LOTUS RESOURCES LIMITED — Director's Dealing 2012

May 31, 2012

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 30/09/01 Amended 01/01/11

Name of entity	Dragon Energy Ltd
ABN	38 119 992 175

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 Anthony Ho

Date of last notice 19 February 2009

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	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Not Applicable.
Date of change	31 May 2012
No. of securities held prior to change	500,000 options exercisable at $0.30 each on or before 31 May 2012.
Class	See above
Number acquired	Nil.
Number disposed	Options lapsed without being exercised 500,000 options exercisable at $0.30 each on or before 31 May 2012.
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Not Applicable.

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

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No. of securities held after change Nil.
Nature of change
Example: on-market trade, off-market trade, exercise of options, Lapsed options.
issue of securities under dividend reinvestment plan, participation in
buy-back
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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.

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Detail of contract Not Applicable
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
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Part 3 –[+] Closed period

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Were the interests in the securities or contracts detailed No.
above traded during a [+] closed period where prior written
clearance was required?
If so, was prior written clearance provided to allow the trade
to proceed during this period?
If prior written clearance was provided, on what date was this
provided?
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• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011