PURSUIT MINERALS LTD — Director's Dealing 2013

Dec 18, 2013

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

Name of entity SOUTH AMERICAN FERRO METALS

ABN 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	Stephen Fabian
Date of last notice	23/12/2011

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.	Massif Limited. Massif Limited is whollyowned by a trust in which Mr Fabian hasan interest.
Date of change	19 December 2013.
No. of securities held prior to change	Indirect:44,598,809 Ordinary shares (listed)held by Massif Limited.Direct:2,500,000 unlisted options exercisableat $0.36 on or before the 31 December2015, subject to vesting and exerciseconditions (as per notice of GeneralMeetingdated 19 January2011).
Class	Share Options
Number acquired	2,500,000
Number disposed	Nil

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Nil
No. of securities held after change	Indirect:44,598,809 Ordinary shares (listed)held by Massif Limited.Direct:2,500,000 unlisted options exercisableat$0.07on or before the 26November 2018, subject to vestingand exercise conditions (as per noticeof General Meeting dated 28 October2013).2,500,000 unlisted options exercisableat $0.36 on or before the 31 December2015, subject to vesting and exerciseconditions (as per notice of GeneralMeeting dated 19 January 2011).
Nature of changeExample: 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(if issued securities)	N/A
Date of change	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

			Appendix 3Change of Director’s Interest Notic
No and class of securities to whichN/A
	No and class of securities to which	N/A
	.interest related prior to changeNote: Details are only required for a contract in
	relation to which the interest has changed
	Interest acquired	N/A
	Interest disposed	N/A
	Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation	N/A
	Interest after change	N/A

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailedabove traded during a+closed period where prior written**clearance 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