PAINCHEK LTD — Director's Dealing 2014

Nov 11, 2014

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial 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 Merah Resources Limited ABN 146 035 127

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Paul Clement Niardone
Date of appointment	12 November 2014

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

Nil

• See chapter 19 for defined terms.

Appendix 3X Page 1

11/3/2002

Appendix 3X Initial Director’s Interest Notice

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

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

Name of holder & nature of interest	Number & class of Securities
Note: Provide details of the circumstances giving rise to the relevant interest.
Trindis Pty Ltd where Mr Paul Niardone is a director	3,570,722 fully paid ordinary shares.
and shareholder.
Paul Clement Niardone & Andrea Janet Niardone (P&A	13,015 fully paid ordinary shares.
Niardone S/F A/C). Mr Paul Niardone is a trustee and
beneficiary.

Part 3 – 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	Under the Binding Terms Sheet between Merah Resources
	Limited (“Merah”) and Oresearch Limited, Additional and
	Deferred Consideration Shares will be issued to Trindis Pty Ltd,
	subject to relevant milestone events. The quantity and terms of
	the Consideration Shares are disclosed in Schedule 1 of the
	Merah Notice of Extraordinary General Meeting lodged with
	ASX on 29 August 2014.
Nature of interest	Pursuant to the Binding Terms Sheet between Oresearch and
	Merah Resources Limited, Mr Niardone (or his nominee) was
	issued a total of 2,525,253 shares upon completion of the
	Oresearchtransaction.Afurther2,525,253deferred
	consideration shares will be issued to Mr Niardone (or his
	nominee) subject to satisfaction relevant milestone events,
	The relevant milestones are detailed in the Merah Notice of
	Extraordinary General Meeting lodged with ASX on 29 August
	2014.
Name of registered holder	Trindis Pty Ltd (Refer Part 1 and 2 above).
(if issued securities)
No. and class of securities	A total of 5,050,506 fully paid ordinary shares.
to which interest relates

• See chapter 19 for defined terms.

Appendix 3X Page 2

11/3/2002