PEEL MINING LIMITED — Director's Dealing 2010

Nov 22, 2010

Appendix 3Y Change of Director’s Interest Notice

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 Peel Exploration Limited ABN 42 119 343 734

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	Simon Hadfield
Date of last notice	10/03/2010

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 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.

Direct or indirect interest	Direct and Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Direct – Simon HadfieldIndirect – Salamar Pty LtdIndirect – Salamar Super Fund
Date of change	08 November2010
No. of securities held prior to change	Direct1,000,000 FPO Shares500,000QuotedOptionsexpiring30/11/10,exercisable at $0.20500,000UnlistedOptionsexpiring 30/11/10,exercisable at $0.202,500,000 Unlisted Options expiring 30/11/10,exercisable at $0.30Indirect1,995,765 FPO Shares672,873QuotedOptionsexpiring30/11/10,exercisable at $0.20550,000UnlistedOptionsexpiring 30/11/10,exercisable at$0.20
Class	Fully Paid Ordinary Shares
Number acquired	714,286
Number disposed	Nil

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$50,000.02
No. of securities held after change	Direct1,447,883 FPO Shares500,000QuotedOptionsexpiring30/11/10,exercisable at $0.20500,000UnlistedOptionsexpiring 30/11/10,exercisable at $0.202,500,000 Unlisted Options expiring 30/11/10,exercisable at $0.30Indirect2,262,168 FPO Shares672,873QuotedOptionsexpiring30/11/10,exercisable at $0.20550,000UnlistedOptionsexpiring 30/11/10,exercisable at $0.20
Nature of changeExample: on-market trade, off-market trade, exercise of options, issueof securities under dividend reinvestment plan, participation in buy-back	On-market purchase

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 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.

Appendix 3Y Page 2

11/3/2002