METALS AUSTRALIA LTD — Director's Dealing 2006

Jul 10, 2006

Rule 3.19.4.2

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	_________ Balance and American Actual CONTRACTOR DE CONTRACTOR DE CONTRACTOR DE CONTRACTOR DE CONTRACTOR DE CONTRACTOR DE CONTRACTOR DE CONTRACTOR DE Australian United Gold Ltd
------- JABN	. --------------- -------------------------------------- _________ 38 008 982 474

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	Hersh Solomon Majteles
Date of last notice	September 16 2005

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: b) 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 and Indirect Shares
Nature of indirect interest
(including registered holder)	1,000,000 Hersh Solomon Majteles
Note: Provide details of the circumstances giving rise to the relevant interest.	1,650,000 Alexis Pty Ltd
	300,000 Simon Nominees Pty Ltd
Date of change	July 10 2006
No. of securities held prior to change	1,950,000 Shares
	1,000,000 Options
Class	Ordinary Shares
Number acquired	1,000,000 Shares
Number disposed	1,000,000 Options
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$20,000 cash being exercise of one million options at 2 cents
No. of securities held after change	2,950,000 Ordinary Shares

⁺ See chapter 19 for defined terms.

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

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

$\bar{z}$

⁺ See chapter 19 for defined terms.