MOUNT RIDLEY MINES LIMITED — Director's Dealing 2007

Apr 11, 2007

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 AXG Mining Limited
ABN 93092304964

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	Alex Bajada
Date of last notice	23 February 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 emity 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.	Spartan Nominees Pty Ltd (Mr. Bajada is a director of Spartan Nominees Pty Ltd)
Date of change	12 April 2007
No. of securities held prior to change	(a) $Nil$ – Fully paid ordinary shares (b) Nil-options
Class	(a) fully paid ordinary shares (b) options
Number acquired	(a) $500,000$ (b) $250,000$
Number disposed	$(a)$ Nil (b) Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	8 cents per share and 1 free option per 2 ordinary shares acquired
No. of securities held after change	500,000 (a) 250,000

⁺ See chapter 19 for defined terms.

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back-	Capital raising as per GM of 28 March 2007
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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.

Detail of contract	N/A
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.