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IONDRIVE LIMITED Share Issue/Capital Change 2005

Oct 31, 2005

Share Issue/Capital Change

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1 November 2005

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

Dear Sir

The Directors of Southern Gold Limited advise that on 15^th November 2005, 1,131,850 fully paid shares shall be released from restricted trading.

$\overline{\phantom{a}}$

Michael Billing Director

Phone: 08 8295 5779