PURSUIT MINERALS LTD — Director's Dealing 2011

Jun 1, 2011

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial 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: South American Ferro Metals Limited

ABN: 27 128 806 977

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Alan David Doyle
Date of appointment	1 June 2011

Part 1 - Director’s relevant interests in securities of which the director is the registered holder

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.

Number & class of securities

• 2 Ordinary shares

• 1 Class B Performance Share

• 1 Class C Performance Share

• See chapter 19 for defined terms.

Appendix 3X Page 1

11/3/2002

Appendix 3X Initial Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

	Name of holder & nature of interestNote: Provide details of the circumstances giving rise tothe relevant interest.Topix Management Limited:Mr Doyle is a beneficial holder underTrust of this CompanyAfro Pacific Capital Pty Limited:Mr Doyle is a director and significantshareholder of this CompanyAfrica Pacific Capital (HK) Limited:Mr Doyle is a director and significantshareholder of this Company	Number & class of Securities21,918,373 Ordinary shares10,959,187 Class B Performance shares10,959,187 Class C Performance shares5,864,996 Ordinary shares2,932,498 Class B Performance shares2,932,498 Class C Performance shares4,673,840 Ordinary shares2,336,920 Class B Performance shares2,336,920 Class C Performance shares

Part 3 – 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	N/A
Nature of interest	N/A
Name of registered holder(if issued securities)	N/A
No. and class of securities to whichinterest relates	N/A

• See chapter 19 for defined terms.

Appendix 3X Page 2

11/3/2002