Lachlan Star Limited — Director's Dealing 2007

May 21, 2007

Appendix 3Y

Rule 3.19A.2

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	Toodyay Resources Ltd
ABN 88 000 759 535

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 STEINEPREIS
Date of last notice	14 June 2006

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 the relevant interest.	N & J Mitchell Holdings Pty Ltd - director and potential beneficiary -10,609,583 shares Linda Steinepreis-spouse -3,900,000 shares Ascent Capital Pty Ltd - (3,333,333)
Date of change	17 May 2007
No. of securities held prior to change	14,509,583 Ordinary Shares 5,333,333 Options
Class	Ordinary Shares
Number acquired	2,000,000 Ordinary Shares
Number disposed	2,000,000 Options Exercised
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$20,000
No. of securities held after change	16,509,583 Ordinary Shares 3,333,333 Options

$+$ See chapter 19 for defined terms.

Nature of change	Exercise of Options
Example: on-market trade, off-market trade, exercise of options, issue of
securities under dividend reinvestment plan, participation in buy-back-

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
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

⁺ See chapter 19 for defined terms.