PEEL MINING LIMITED — Major Shareholding Notification 2009

Jul 5, 2009

0893854303

$p.2$

			604	page 1/2	15 July 2001
		Form 604
		Corporations Act 2001Section 671B
			Notice of change of interests of substantial holder
Company Name/SchemeTo		Peel Exploration Limited
ACN/ARSN	119 261 131
1. Details of substantialholder(1)		Laurence James Kiernan
NameACN/ARSN (if applicable)
There was a change in the interests of thesubstantial holder on		25/06/2009
The previous notice was given to the companyOH.		16/03/2009
The previous notice was dated		16/03/2009

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 r

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power
Ordinarv shares	6,900,000	22.31%	3.000.000	9.70%

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 companyor scheme, since the substantial holder was last required to give

Date ofchange	Person whoserelevant interestchanged	Nature of change (6)	Consideration aiven inrelation tochange (7)	Class andnumber ofsecuritiesaffected	Person's votesaffected
25/06/09	CrawleyInvestmentsPty Limited	Sale of shares	$585,000	3.900,000	CrawleyInvestments PtyLimited

4. Present relevant interests

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

Holder of relevantinterest	Registeredholder ofsecurities	Person entitled tobe registered asholder (8)	Nature of relevant interest (6)	Class andnumber ofsecurities	Person'svotes
Laurence JamesKieman	LaurenceJames Kiernan	Laurence JamesKieman	Registered holder	3.000.000	9.70%

vo vo vra	.	----------
		604	page 2/2	15 July 2001
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 (if applicable) Nature of association Taken under section 608(3)(b) of the Corporations Act to have a Crawley Investments Pty Ltd relevant interest by virtue of having control of Crawley Investments Ptv Ltd

6. Addresses

The addresses of persons named in this form are:

Name	_______________-------------------------------------
James Kieman	PO Box 870, West Perth WA 6872
Crawley Investments Pty Ltd	www.doorneer.com/and-PO Box 870, West Perth WA 6872.

Signature

print name	Laurence James Kiernan	capacity	Individual
sign here	$\cdot$	date 03 / 07 / 2009
	DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager $(1)$ 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 6 of the form.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• Include details of: $(6)$
  • any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a $(a)$ 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
  • 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 $(b)$ 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.

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 $(7)$ 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, evenif they are not paid directly to the person from whom the relevant inte

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". $(8)$

Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $(9)$