PATERSON RESOURCES LTD — Major Shareholding Notification 2011

Mar 29, 2011

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ASIC registered agent number	JOHN KARAJAS
lodging party or agent nameoffice, level, building name or PO Box no.	C/- PO Box 3235
street number & name	256 Adelaide Terrace
suburb/city	PERTHstate/territory WApostcode 6832
telephone	(08) 9225 4917
facsimile	(08) 9225 6474
DX number	suburb/city	ASS.  REQ-ACASH  REQ-PPROC.
	Australian Securities & Investments Commission	form 603
		Corporations Act 2001
	Notice of initial substantial	Section 671B
	holder
To Company Name/Scheme	UNITED OROGEN LIMITED
ACN/ARSN	115 593 005
1. Details of substantial holder (1)Name	JOHN KARAJAS
ACN/ARSN (if applicable)
The holder became a substantial holder on	09/10/2006Actual Initial %: (12.91%)
2. Details of voting power	The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevantinterest (3) in on the date the substantial holder became a substantial holder are as follows:

	Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
As at 30/03/11:	ORD	5,525,000	5,525,000	8.53%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
Mr John Karajas	Fully Paid Ordinary Shares	5,525,000

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as	Class and number of
		holder (8)	securities
Mr John Karajas	Mr John Karajas	Mr John Karajas	ORD 5,525,000

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date ofacquisition	Consideration (9)			Class and number ofsecurities
		Cash	Non-cash
MR JOHN KARAJAS	09/10/2006		(Float Allotment)	ORD	25,000
MR JOHN KARAJAS	18/10/2008		(Release from Escrow)		ORD 5,500,000

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Name of association
N/A	N/A

NOTE:-

1. 513,586 Ordinary Shares are also held by Iron Mountain Mining Limited in United Orogen Limited in which John Karajas holds shares.

7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Mr John Karajas	C/- PO Box 3235, 256 Adelaide Terrace,
	PERTH WA 6832

Signature

print name	JOHN KARAJAS	capacity	Director
sign here		date	30/03/2011

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg, a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.
• (2) See the definition of "associate" in section 9 of the Corporations Act 2001.
• (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• (4) The voting shares of a company constitute one class unless divided into separate classes.
• (5) The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.
• (6) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• (7) Include details of:
  • (a) any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
  • (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".
• (9) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.