IONDRIVE LIMITED — Director's Dealing 2010

Nov 30, 2010

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

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	David John Turvey
Date of last notice	11 October 2010

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 therelevant interest.	Mr David Turvey (Red BalloonSuperannuation Fund A/C)
Date of change	1 December 2010
No. of securities held prior to change	DIRECT♦NILINDIRECT♦512,000 listed ordinary shares
Class	Unlisted options
Number acquired	DIRECT♦NILINDIRECT♦500,000 unlisted options to acquireordinary shares @ $0.105 expiring01.12.2014

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Number disposed			NIL
Value/Consideration			$0.105 / option
Note: If consideration is non-cash, provide details and estimated
valuation
No. of securities held after change	DIRECT
	♦	NIL
	INDIRECT
	♦	512,000 listed ordinary shares
	♦	500,000	unlisted options to acquire
		ordinary	shares @ $0.105 expiring
		01.12.2014
Nature of change	Issue of options as authorised by
Example: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation	shareholders		at recent AGM
inbuy-back
Part 2 – Change of director’s interests	in	contracts

Part 2 – Change of director’s interests in contracts	Part 2 – Change of director’s interests in contracts	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	N/A
	which interest related prior to
	change
	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	N/A
	Note: If consideration is non-cash, provide
	details and an estimated valuation
	Interest after change	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002