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IONDRIVE LIMITED Director's Dealing 2009

Mar 22, 2009

65132_rns_2009-03-22_4d998bd7-1c88-4144-81a1-23b022754cba.pdf

Director's Dealing

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==> picture [595 x 98] intentionally omitted <==

23 March 2009

Update ‐ Issue of shares to Director under Rights Issue

With reference to Southern Gold Ltd’s (ASX:SAU) earlier announcement on 9 March 2009 of shares inadvertently issued to Chairman Greg Boulton as part of the shortfall under the recent 1 for 3 Rights Issue, the Company wishes to advise that the 950,000 shares inadvertently issued have been sold by Mr Boulton on market as agreed with the ASX and the net proceeds above the issue price of 5 cents are to be donated to his nominated charity.

For further information please contact:

Nick Harding Company Secretary Phone: +61 (0) 8 8368 8888 Fax: +61 (0) 8 88368 8899

Southern Gold Limited 47 Tynte Street PO Box 1016 ABN 30 107 424 519 North Adelaide North Adelaide South Australia 5006 South Australia 5006

email: [email protected] telephone 08 8368 8888 www:southerngold.com.au facsimilie 08 8368 8899