IONDRIVE LIMITED — Share Issue/Capital Change 2012

Mar 1, 2012

==> picture [595 x 96] intentionally omitted <==

2 March 2012

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

Dear Sir,

CANCELLATION OF OPTIONS

The following options to acquire ordinary shares in Southern Gold Limited have expired or have been cancelled due to an employee ceasing to be associated with the company.

Number of Options	Exercise Price	Expiry Date
500,000	50 cents	7 February 2012
500,000	50 cents	7 February 2012
250,000	15 cents	23 October 2014

Regards

==> picture [116 x 48] intentionally omitted <==

Nick Harding Company Secretary

Southern Gold Limited Ground Floor, Unit 1 PO Box 255 email info@southerngold.com.au telephone 08 8368 8888 ABN 30 107 424 519 229 Greenhill Road Kent Town web southerngold.com.au facsimile 08 8368 8899 Dulwich SA 5065 SA 5071