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IONDRIVE LIMITED Capital/Financing Update 2009

Jun 10, 2009

65132_rns_2009-06-10_b3fedd3c-601f-4c17-9f74-df61d44d4b1b.pdf

Capital/Financing Update

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MARKET RELEASE

11 June 2009

SOUTHERN GOLD LIMITED

SUSPENSION FROM OFFICIAL QUOTATION

The securities of Southern Gold Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending release of a further announcement to the market regarding a proposed capital raising.

Security Code: SAU

Manager, Issuers (Adelaide)

11 June 2009

Mr J Nelson Manager, Issuers (Adelaide) ASX Markets Supervision Pty Ltd Level 25, 91 King William Street ADELAIDE, SA 5000

Dear Justin,

REQUEST FOR VOLUNTARY SUSPENSION

In accordance with Listing Rule 17.2, Southern Gold Limited (ASX:SAU) requests that its securities be placed in voluntary suspension pending a further announcement to the market regarding its proposed capital raising. The Company anticipates that it will be in a position to make a further announcement to the market in this regard on Friday 12 June 2009.

Southern Gold Limited is not aware of any reason why the requested voluntary suspension should not be granted. The Company is not aware of any other relevant information in relation to this request.

Yours sincerely,

Nick Harding Company Secretary

No. 2429

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