MOUNT RIDLEY MINES LIMITED — Director's Dealing 2006

Jan 2, 2006

Rule 3.19A.3

Appendix 3Z

Final 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 AXG Mining Limited
ABN 93 092 304 964

We (the entity) give ASX the following information under listing rule 3.19A.3 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of director	Robert Nichevich
Date of last notice	25 February 2005
Date that director ceased to be director	31 December 2005

Part 1 - Director's relevant interests in securities of which the director is the registered holder 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.

Number & class of securities

⁺ See chapter 19 for defined terms.

Part 2 - Director's relevant interests in securities of which the director is not the registered holder

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.

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Number & class of securities
Fully paid ordinary shares 15,010,000
Listed 20 cent options expiring 31/08/10 12,808,001

Part 3 – Director's interests in contracts

Detail of contract	nil
Nature of interest
Name of registered holder (if issued securities)
No. and class of securities to which interest relates

⁺ See chapter 19 for defined terms.