PURSUIT MINERALS LTD — Director's Dealing 2012

Dec 20, 2012

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 30/09/01 Amended 01/01/11

SOUTH AMERICAN FERRO METALS LIMITED

27 128 806 977

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 Wayne Kernaghan Date of last notice 29 June 2012

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	Indirect
Nature of indirect interest
(including registered holder)Note: Provide details of the circumstances giving rise to the relevant	W J K Investments Pty Ltd.
interest.
**Date of change **	20 December 2012
No. of securities held prior to change	Direct: Nil
	Indirect:
	902,796 Ordinary shares (listed) - held by W
	J K Investments Pty Ltd.
Class	As above
Number acquired	2,500,000 Options (unlisted) exercisable at
	$0.12 per share on or before 15 November
	2017, subject to vesting and exercise
	conditions (as per notice of Annual General
	Meeting dated 24 October 2012.) – held by
	Mining Investors Australia Pty Ltd.
	.
Number disposed	Nil

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Value/Consideration
Note: If consideration is non‐cash, provide details and estimatedvaluation	Nil
No. of securities held after change	Direct: Nil
	Indirect:
		902,796 Ordinary shares (listed) - held
		by W J K Investments Pty Ltd.
		2,500,000 Options (unlisted) exercisable
		at $0.12 per share on or before 15
		November 2017, subject to vesting and
		exercise conditions (as per notice of
		Annual General Meeting dated 24
		October 2012.) – held by Mining
		Investors Australia Pty Ltd.
Nature of change
Example: on‐market trade, off‐market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy‐back	Issue of Share Options as approved byshareholders.

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	N/A
Nature of interest	N/A
Name of registered holder	N/A
(if issued securities)
Date of change	N/A
No. and class of securities to which	N/A
interest related prior to change
Note: Details are only required for a contract in
relation to which the interest has changed
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration	N/A
Note: If consideration is non‐cash, provide details
and an estimated valuation
Interest after change	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	No
If so, was prior written clearance provided to allow the tradeto proceed during this period?	N/A
If prior written clearance was provided, on what date was thisprovided?	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3