PEEL MINING LIMITED — Major Shareholding Notification 2010

Jan 27, 2010

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme PEEL EXPLORATION LIMITED

ACN/ARSN 119 261 131

1. Details of substantial holder (1)

Name Stirling Resources Limited ACN/ARSN (if applicable) 009 659 054

The holder ceased to be a substantial holder on 27/01/2010 The previous notice was given to the company on 13/10/2009 The previous notice was dated 13/10/2009

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) 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 of	Person whose	Nature of change (4)	Consideration	Class (6) and	Person’s votes affected
	change	relevant interest		given in relation	number of
		changed		to change(5)	securities affected
	27/01/2010	Stirling Resources	Sale of shares	$433,840.00	5,104,000	Stirling Tungsten Pty Ltd
		Limited

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

	Name and ACN/ARSN (if applicable)	Name and ACN/ARSN (if applicable)	Nature of association	Nature of association
	N/A
4. Addresses
The addresses of persons named in this form are as follows:
	Name		Address
	StirlingTungsten PtyLtd		C/- 150Hay Street, Subiaco,WA6008.
	StirlingResourcesLimited		C/- 150Hay Street, Subiaco,WA6008
Signature
	print name	Ildiko Wowesny		Capacity:Company Secretary
	sign here			date 27 January 2010