IONDRIVE LIMITED — Director's Dealing 2007

Feb 7, 2007

8 February 2007

The Manager Companies Announcements Office Australian Stock Exchange 20 Bridge Street SYDNEY NSW 2000

Dear Sir

Directors Change of Interest Notification

Please find following notification forms of directors transactions in securities of Southern Gold Limited.

The transactions comprise sale of some securities to allow both the exercise of options, and for participation in the Initial Public Offer of Southern Uranium Limited

Yours Faithfully

Michael Billing Director

Phone: 08 8295 5779

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:	SOUTHERN GOLD LIMITED
ABN:	30 107 424 519

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	MICHAEL ROBERT BILLING
Date of last notice	5 February 2007

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	INDIRECT
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	MBB Trading Pty Ltd
Date of change	8 February 2007
No. of securities held prior to change	DIRECT 1,500,000 unlisted escrowed ordinary shares 500,000 unlisted options to purchase ordinary shares for 20 cents exercisable to 31 December 2007 INDIRECT 139,545 listed ordinary shares ٠ 65,000 unlisted escrowed ordinary shares ٠ 65,000 unlisted options to purchase ordinary shares for 20 cents exercisable to 31 December 2007 92,500 listed options to purchase ٠ ordinary shares for 20 cents exercisable to 31 March 2007
Class	Ordinary shares ۰ Options to acquire ordinary shares

$\div$ See chapter 19 for defined terms.

Number acquired	DIRECT
	NIL
	INDIRECT
	75,000 ordinary shares
Number disposed	DIRECT
	NIL
	INDIRECT
	75,000 options exercised
Value/Consideration	DIRECT
Note: If consideration is non-cash, provide details and estimated valuation	\$0.20 per share
No. of securities held after change	DIRECT
	1,500,000 unlisted escrowed ordinary ٠
	shares
	500,000 unlisted options to purchase ۰
	ordinary shares for 20 cents exercisable
	to 31 December 2007
	INDIRECT
	214,545 listed ordinary shares
	65,000 unlisted escrowed ordinary shares ٠
	65,000 unlisted options to purchase ٠
	ordinary shares for 20 cents exercisable
	to 31 December 2007
	17,500 listed options to purchase ٠
	ordinary shares for 20 cents exercisable
	to 31 March 2007
Nature of change	options exercised
Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

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

$+$ See chapter 19 for defined terms.

Appendix 3Y

Rule 3.19A.2

Change of Director's Interest Notice

Name of entity:	SOUTHERN GOLD LIMITED
IABN:	30 107 424 519

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	CEDRIC MHRRAY HORN
Date of last notice	18 OCTOBER 2006

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 (inc registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Mrs Kathleen J Horn (Horn Family A/c)
Date of change	5 FEBRUARY 2007
No. of securities held prior to change	DIRECT 142,227 listed ordinary shares ٠ 1,575,000 unlisted escrowed ordinary $\bullet$ shares 575,000 unlisted options to purchase ordinary shares for 20 cents exercisable to 31 December 2007 INDIRECT 190,500 listed ordinary shares ì. 250,000 unlisted escrowed ordinary 2. shares 50,000 unlisted options to purchase 3. ordinary shares for 20 cents exercisable to 31 December 2007 4. 100,000 listed options to purchase ordinary shares for 20 cents exercisable to 31 March 2007
Class	1. Ordinary shares 2. Options to acquire ordinary shares
Number acquired	DIRECT 50,000 ordinary shares INDIRECT 30,000 ordinary shares

⁺ See chapter 19 for defined terms.

Number disposed	DIRECT 72,227 ordinary shares
	50,000 share options
	INDIRECT 15,000 ordinary shares
	30,000 share options
Value/Consideration Note: If consideration is non-cash, provide details and estimated	DIRECT Ordinary shares sold $@$ \$0.68/share
valuation	share options exercised $@$ \$0.20/share
	INDIRECT
	Ordinary shares sold $(a)$ \$0.565/share
	share options exercised $@$ \$0.20/share
No. of securities held after change	DIRECT
	120,000 listed ordinary shares ۰
	1,575,000 unlisted escrowed ordinary ٠
	shares
	525,000 unlisted options to purchase ٠
	ordinary shares for 20 cents exercisable
	to 31 December 2007
	INDIRECT
	205,500 listed ordinary shares S.
	250,000 unlisted escrowed ordinary 6.
	shares
	50,000 unlisted options to purchase $7 -$
	ordinary shares for 20 cents exercisable
	to 31 December 2007
	70,000 listed options to purchase 8.
	ordinary shares for 20 cents exercisable
	to 31 March 2007
Nature of change	On market trade $+$ exercise of options
Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

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	N/A
Interest after change	N/A

$+$ See chapter 19 for defined terms.

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:	SOUTHERN GOLD LIMITED
ABN:	30 107 424 519

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	STEPHEN RICHARD BIGGINS
Date of last notice	II NOVEMBER 2005

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	INDIRECT
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	GENEX RESOURCES PTY LTD
Date of change	6 FEBRUARY 2007
No. of securities held prior to change	DIRECT 1,500,000 unlisted escrowed ordinary $\bullet$ shares 500,000 unlisted options to purchase ordinary shares for 20 cents exercisable to 31 December 2007 INDIRECT 472,727 listed ordinary shares ٠ 1,350,000 unlisted escrowed ordinary ٠ shares 350,000 unlisted options to purchase $\bullet$ ordinary shares for 20 cents exercisable to 31 December 2007 175,000 listed options to purchase ٠ ordinary shares for 20 cents exercisable to 31 March 2007
Class	Ordinary shares

⁺ See chapter 19 for defined terms.

Number acquired	DIRECT NIL
Number disposed Value/Consideration	DIRECT NIL INDIRECT 60,000 DIRECT
Note: If consideration is non-cash, provide details and estimated valuation	\$0.705/SHARE
No. of securities held after change	DIRECT 1,500,000 unlisted escrowed ordinary shares 500,000 unlisted options to purchase ٠ ordinary shares for 20 cents exercisable to 31 December 2007 INDIRECT 412,727 listed ordinary shares ٠ 1,350,000 unlisted escrowed ordinary ٠ shares 350,000 unlisted options to purchase ٠ ordinary shares for 20 cents exercisable to 31 December 2007 175,000 listed options to purchase ٠ ordinary shares for 20 cents exercisable to 31 March 2007
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Participation in shareholders share purchase plan

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	N/A
(if issued securities)
Date of change	N/A
No. and class of securities to which interest related prior to change	N/A
Note: Details are only required for a contract in relation to which the interest has changed
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

$+$ See chapter 19 for defined terms.