IONDRIVE LIMITED — Major Shareholding Notification 2006

Dec 7, 2006

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团002/004

PO Box 1573 Coorparoo Q 4151

977 Stanley Street East East Brisbane Q 4169

7 December 2006

The Directors Australian Stock Exchange Limited Level 6 Riverside Centre 123 Eagle Street Brisbane QLd 4000

Dear Sir,

Southern Gold Limited Talbot Group Holdings ATF Talbot Equities Trust

We attach copy of Form 603 Notice of initial substantial holder dated 7 December 2006 which has today been given to Southern Gold Limited

$ATF$

page 1/2 15 July 2001 503

Form 603

Corporations Act 2007 Section 671B

Notice of initial substantial holder

To Company Name/Scheme	SOUTHERN GOLD LIMITED
ACN/ARSN	and the company of the company of the $107$ 424 519

1. Details of substantial holder (1) Name ACN/ARSN (If applicable)

TALBOT GROUP HOLDINGS PTY LTD $649$ 275 746

The holder became a substantial noider on

$71210$

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting litterests in the scheme that the substantial holder or an associate (2) had a
relevant interest (3) in on the cate the substantial holde

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
ORDIN 0 2 V	5366000	೦೦೧

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interes: (7)	Class and number of securities
TALBOT GROUP	INVESTMENTS 44 27) RELATED CORPORATION	1916000 ORDINARY SHARES
TALBOT CROVE HOLDINGSPIL AF TALGOT EQUITIES TRUST	$\mu$ older	$450000$ ORDINGRY SHARES

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Class and number of securities
$444$ got Choup INVESTMENTS	TALSOT CROUP	$\overline{C}$ ROYP 70.1007 INVESTMENTS AN LOD INVESTMENTS AN LTD RILOOD	DRNINARY SHAA⊭5I
ATT TALSET FOOLTIES TELLST!	ATF TALAST EQUITIES TRUST!	$7$ ALGOT GLOUP A OF DIAGS PIL TALGOT GROUP HOLDINGS ALL TALGOT GROUP AOLD INGS PIL $ATF$ TALBOT $EGor$ is revolt $4.45$ coor HARES	OLDINARY

5 Consideration

The consideration paid for each relevant interest referred to in paragraph 5 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows: $\sim$

Date of acquisition Holder of relevant interest	Consideration (9)		Class and number of securities
FALGOT : Glaip	Cash	Non-cash
WESTMENTS AT LTD VARIOUS	300 $878$		GADINGRY 91600054425
MALROT GROUP MOLDWGS PIL $-12 - 3 = -6$	112< $\zeta$ c $Q^+$		CALINA 2N 445000 349E

ATE TALBOT EQUITIES TENST.

page 2/2 15 July 2001 603

6. Associates

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The reasons the persons nemed in paragraph 3 above are essociates of the substantial holder are as follows:

Name and ACN/ARSN (If applicable)	Nature of association
TALEOT CROUP INVESTMENTS PL		RELATED CORPORATION
096001857 AcN

1. Addresses

$\sim$ $-$

The addresses of persons named in this form are as follows:

Name	Address
14ALBOT GROUP INVESMENTS PL 977 STANLEY STREET EAST BRISBANE				مما له
1-141800 GROUP HOLDINGS PIL	9T STANLEY STREET	EAT	BEISBANE	41La
	PO BOX 1573 COORPAROO QLD HISI

Signature

Drint name	DON NISSEN	$\Delta$ IRE CTOR capacity
sign here	Jan Nissen	$400$ $7^{1}/2$ , $06$ .

DIRECTIONS

if there are a number of substantial holders with similar or related relevant interests (eg. a corporation and lits related corporations, or the manager and trustee of an
equity trust), the names could be inducted in an an $(1)$ form.

See the definition of "associats" in section 9 of the Corporations Act 2001. $²$

See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$

• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant $(5)$ interest in.

The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(6)$

Include details of: $\sigma$

• any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out
  the terms of any relevant agreement, and a statement by the perso $(a)$
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or idisposal of the securities to
  which the relevant (nterest relates (indicating clearly the Ы

$2.7 - 2.2$

$\overline{a}$ and $\overline{a}$

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown". $\left( 8 \right)$

Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become $\left( 9\right)$ entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be entitled to receive in relation to that acquisition included of any banefit paid on behalf of the substantial holder or its associate in relation to the adquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.