IONDRIVE LIMITED — Director's Dealing 2008

Feb 6, 2008

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

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	CEDRIC MURRAY HORN
Date of last notice	14 JANUARY 2008

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 Joyce Horn (Horn family a/c)
Date of change	• DIRECT- 31 January 2008 • INDIRECT- 31 January 2008
No. of securities held prior to change	• DIRECT- 1,875,000 ordinary shares • INDIRECT- 310,000 ordinary shares
Class	Ordinary shares
Number acquired	• DIRECT10,000 ordinary shares • INDIRECT10,000 ordinary shares
Number disposed	♦ DIRECTNIL ♦ INDIRECTNIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	♦ DIRECT$0.28 per share ♦ INDIRECT$0.30 per share
No. of securities held after change	• DIRECT- 1,885,000 ordinary shares • INDIRECT- 320,000 ordinary shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On market trade

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

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 Page 2

11/3/2002