PATERSON RESOURCES LTD — Major Shareholding Notification 2014

Apr 13, 2014

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To	Company Name/Scheme	ELYSIUM RESOURCES LIMITED
ACN/ARSN		115 593 005
1.	Details of substantial holder(1)
Name		Siwel Capital Pty Ltd
ACN/ARSN (if applicable)		004 765 511
	There was a change in the interestsof the substantial shareholder on2/4/2013
	The previous notice was given to the company on1/12/2013
	The previous notice was dated11/12/2013

$2.$ Previous and present 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 relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of Securities(4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ordinary fully paidshares	84,921,146	11.72%	84,921,146	10.41%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date ofchange	Person whoserelevant interestchanged	Nature ofchange (6)	Considerationgiven inrelation tochange $(7)$	Class andnumber ofsecuritiesaffected	Person's votesaffected
2/4/14	Siwel Capital Pty Ltd	SharePlacement	n/a	n/a	n/a

$\overline{4}$ Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder ofrelevantinterest	Registeredholder ofsecurities	Person entitledto beregistered asholder $(8)$	Nature ofrelevantinterest $(6)$	Class and number ofsecurities	Person'svotes
Siwel CapitalPty Ltd DLWSuper FundSiwel CapitalPty Ltd	SiwelCapitalPty Ltd DLWSuper FundSiwel CapitalPty Ltd	Siwel CapitalPty Ltd DLWSuper FundSiwel CapitalPty Ltd	Ordinary fullypaidsharesOrdinary fullypaid shares	76,521,146 ordinary fullypaid shares8,400,000 ordinary fullypaid shares	9.38%1.03%

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (ifapplicable)	Nature of association

6. Addresses

Name	Address
Siwel Capital Pty Ltd DLWSuper Fund	PO Box 906, Woollhara NSW 2025
Siwel Capital Pty Ltd	PO Box 906, Woollhara NSW 2025

Signature

Print name

canacity Director

DAVID L. WILLIAMS Sion here

DIRECTOR

date 9/4/14

could be included in an annexure to the form If the relevant interests of a groun of nersons are essentially similar, they may be referred to throughout the form as a specifically named group $\frac{1}{4}$

paragraph o or the rorm.

$(2)$

See the definition of "associate" in section 9 of the Corporations Law.

Form 604