GWR GROUP LIMITED — Major Shareholding Notification 2007

Nov 25, 2007

Form 604 Corporations Act 2001
Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme		GOLDEN WEST RESOURCES LIMITED
ACN/ARSN	ACN 102 622 051
Details of substantial holder (1) 1. Name ACN/ARSN (if applicable)	ACN 115 157 689	FAIRSTAR RESOURCES LIMITED
There was a change in the interests of the substantial holder on The previous notice was given to the company on The previous notice was dated		26/11/07 23/11/07 23/11/07

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice	---------------------------------------	Present notice .
_________	Person's votes	Voting power (5)	Person's votes	Votina power _________
ully paid ordinary shares .	030.023 --------------------------------------	$.22\%$ --------------------------------------	.884.063	33.73% _________
------------------------------	.	--------------------------------------	---------- ----------------

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change $(7)$	Class and number of securities affected	Person's votes affected
126/11/07	Fairstar Resources Limited	See Annexure A	See Annexure A	ISee Annexure A	See Annexure A
---------------------------------------

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
Fairstar lResources Limited	Fairstar Resources lLimited	Not applicable	See Annexure A	See Annexure A	See Annexure A
Fairstar Resources lLimited	Offerees havel who. Fairstar laccepted Resource's Itakeover Bid dated 13 November 2007	LtdiNot applicable	lSee Annexure A	See Annexure A	See Annexure A

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

detailed a formation companies Name and licabla ---------------------------------------	--------------------------------------- CN/ARSN -ACL	$\cdots$ (It	-------------------------------------- ______ Nature of association ______
able _________		---------------------------------------	-------------------------------------- --------------------------------------
--------------------------------------	_________		.

6. Addresses

The addresses of persons named in this form are as follows:

_____ __ Name --------------------------------------	______ ddress) ______	---------------------------------------
See Annexure A ------------------- _________	______ nnexure A .ಎರ್ ______	. ---------------------------------------
		----------

Signature

KEVIN ROBERTSON print name	capacity	DIRECTOR
sign here	date	26/11/07

DIRECTIONS

• $(1)$ If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• $(3)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• $(5)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• $(6)$ Include details of:
• $(a)$ any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• $(b)$ any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, $(7)$ become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included on any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

$(8)$ If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".

$(9)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

ANNEXURE A

$3.$ Change in relevant interests

Fairstar Resources Limited ("Fairstar") has acquired a relevant interest in 24,519,557 fully paid ordinary shares ("Shares") by virtue of acceptances of its takeover bid dated 13 November 2007, a copy of which was set out in Annexure B to the Form 604 given by Fairstar to GWR on 26 November 2007.

4. Present relevant interests

• $(i)$ Fairstar has a relevant interest in 364,506 Shares as the registered holder and beneficial owner of those Shares, which were acquired in the ordinary course of trading on a prescribed financial market.
• $(ii)$ Fairstar has a relevant interest in a total of 24,519,557 Shares by virtue of the acceptances referred to in paragraph 3 above.

5. Addresses

Name	Address
Fairstar Resources Limited	Unit 3 136 Main Street Osborne Park WA 6017
Golden West Resources Limited	Suite 6 136 Main Street Osborne Park WA 6017

This is the annexure of two pages marked "A" referred to in and forming part of the Form 604 signed by me and dated 26 November 2007

K Robertson