IGO LIMITED — Director's Dealing 2003

Nov 27, 2003

Appendix 3Y

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	Independence Gold NL
ABN	46 092 786 304

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	John Christie
Date of last notice	2 December 2002

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct Indirect
Nature of indirect interest (including registered holder) Imbe Pty Ltd (family company) Linda Christie (relevant interest under s608(1)(b) of the Corporations Act 2001)	500,000 unlisted \$1.33 options 100,000 fully paid ordinary shares
	80,000 fully paid ordinary shares 40,000 listed options
Date of change	2 December 2002
No. of securities held prior to change	All shares and listed options as above. No unlisted options were held prior to change.
Class	Unlisted options to acquire ordinary shares. Exercisable at \$1.33 prior to 30 June 2008
Number acquired	Nil 500,000
Number disposed	Nil Nil
Value/Consideration Note: If consideration is non-eash, provide details and estimated valuation	\$51,500 (payable 25% each year until November 2006)

^÷ See chapter 19 for defined terms.

No. of securities held after change	Nil		180,000 fully paid ordinary shares
	Nil		40,000 listed options
	500,000	Nil	unlisted \$1.33 options
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back-	2003 AGM		Unlisted options issued pursuant to Resolution 7 passed at

Part 2 - Change of director's interests in contracts

Note: in the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	n/a
Nature of interest	n/a
Name of registered holder (if issued securities)	n/a
Date of change	n/a
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	n/a
Interest acquired	n/a
Interest disposed	n/a
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	n/a
Interest after change	n/a

Chindy that

28 November 2003

C M Bonwick Managing Director Date

• See chapter 19 for defined terms.

Appendix 3Y Page 2