MAGNETITE MINES LIMITED. — Director's Dealing 2007

Sep 18, 2007

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 30/9/2001.

Name of entity ROYAL RESOURCES LIMITED ABN 34 108 102 432

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	BRIAN D RICHARDSON
Date of last notice	30/07/2007

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

Direct or indirect interest

BOTH DIRECT AND INDIRECT

Nature of indirect interest Relevant interests arise by virtue of the

(including registered holder) power to control the voting rights attached to Note: Provide details of the circumstances giving rise to the the securities of the entities. relevant interest. Date of change 18/07/2007

• See chapter 19 for defined terms.

Appendix 3Y Page 1

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change Brian D Richardson Anne Richardson	388, 718 ordinary shares. 129,573 quoted options exercisable at 20 cents each on or before 11 November 2007. 129,573 quoted options exercisable at 20 cents each on or before 11 July 2009. 216,500 ordinary shares 54,125 quoted options exercisable at 20 cents per share on or before 11 November 2007 104,125 quoted options exercisable at 20 cents per share on or before 11 July 2009. 1,000,000 unquoted options exercisable at 20 cents per share on or before 31 January 2011. 2,500,000 unquoted options exercisable at 50 cents per share on or before 30 June 2012.
Class	Ordinary shares
Number acquired Anne Richardson	54,125 Ordinary shares
Number disposed	-
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$0.20 per share

• See chapter 19 for defined terms. Appendix 3Y Page 2

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change Brian Dudley Richardson Anne Richardson

388,718 ordinary shares. 129,573 quoted options exercisable at 20 cents each on or before 11 November 2007. 129,573 quoted options exercisable at 20 cents each on or before 11 July 2009. 216,500 ordinary shares 104,125 quoted options exercisable at 20 cents per share on or before 11 July 2009. 1,000,000 unquoted options exercisable at 20 cents per share on or before 31 January 2011. 2,500,000 unquoted options exercisable at 50 cents per share on or before 30 June 2012.

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

Exercise of quoted options expiring on 11 November 2007.

Part 2 – Change of director’s interests in contracts

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

• See chapter 19 for defined terms.

Appendix 3Y Page 3

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Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

• See chapter 19 for defined terms. Appendix 3Y Page 4

30/9/2001