RAND MINING LIMITED — Major Shareholding Notification 2007

May 16, 2007

SHAW STOCKBROKING

17 May 2007

Rand Mining NL Attn: Otokar Demis Company Secretary Suite G1, 49 Melville Parade SOUTH PERTH WA 6151

By fax: 08 9367 9386 By fax: 1900 999 279

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Dear Mr Demis,

RE: NOTICE OF INITIAL SUBSTANTIAL HOLDER MCNEIL NOMINEES PTY LIMITED

In accordance with section 671B of the Corporations Act please find enclosed McNeil Nominee Pty Limited's Notice of Initial Substantial Holder in Rand Mining NL.

Yours faithfully,

Craig Sidney Company Secretary McNeil Nominees Pty Limited

SHAW Stockbroking Limited A.B.N. 24 003 221 583 Participant of ASX Group and holder of Australian Financial Services Licence No 236048

Level 16, 60 Castlereagh Street, Sydney NSW 2000 Fel (02) 9238 1238 Fax (02) 9232 1296 Toll Free 1800 636 625 GPO Box 3604, Sydney NSW 2001 DX SSE 10390

This information is tor your sole use and athough all possible cars and atention was given to the contents and recommendations in this document, no responsibility can be taken for arrors and omissions, either as so matters of judgement or fact. The company, its sulficriesd representatives and their respective officers and employees may have a pequiliey or other interesting matter discussed and/or in the securities mentioned. ......................................

SHAW STOCKBROKING

17 May 2007

Rand Mining NL Attn: Otokar Demis Company Secretary Suite G1, 49 Melville Parade SOUTH PERTH WA 6151

By fax: 08 9367 9386 By fax: 1900 999 279

Dear Mr Demis,

NOTICE OF INITIAL SUBSTANTIAL HOLDER RE: MCNEIL NOMINEES PTY LIMITED

In accordance with section 671B of the Corporations Act please find enclosed McNeil Nominee Pty Limited's Notice of Initial Substantial Holder in Rand Mining NL.

Yours faithfully,

Craig Sidney Company Secretary McNeil Nominees Pty Limited

SHAW Stockbroking Limited A.B.N. 24 003 221 583 Participant of ASX Group and holder of Australian Financial Services Licence No 236048

Level 16, 60 Castlereagh Street, Sydney NSW 2000 F Tel (02) 9238 1238 Fax (02) 9232 1296 Toll Free 1800 636 625 GPO Box 3604, Sydney NSW 2001 DX SSE 10390

This information is for your sole use and although all possible care and apartion was given to the conjenis and recommendations in this depurient, no responsibility can be faken for strors and omissions, sliber as to matiers of judgement or tack. The company, its authorised representatives and their respective officers and employees may have a pecuniary or other interess in the matter discussed and/or in the enuroides members?

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Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To: Company Name/Scherne	RAND MINING NL
ACN / ARSN	004 669 658
1. Details of substantial holder (1)	A substitute in the substitute of the property of the second second second second second second second second second second second second second second second second second second second second second second second second

Name	I MUNEIL NUMINEES FI Y LIMITEU.
ACN / ARSN (if applicable)	003 207 592
The holder became a substantial holder on		05 /	2007

1. Details of 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 anassociate (2) had a relevant interest (3) in on the date the substantial holder

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
FPO	2,083,538	2,083,538	5.14%--------
-----

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	_______________________________________Nature of relevant interest (7)	Class and number of securities
I MCNEIL NOMINEES.	REGISTERED HOLDER UNDER
	NOMINEE AGREEMENT

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to beregistered as holder (8)	Class and number ofsecurities
MCNEIL NOMINEES	' MCNEIL NOMINEES	MCNEIL NOMINEES

5 Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day the substantial holder became a substantial holder is as follows;

Holder of relevant interest-------------	Date of acquisition	Consideration (9)		Class and number ofsecurities
		Cash	Non-cash
MCNEIL NOMINEES	SEE ATTACHED

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6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN(if applicable)	Nature of Association
N/A

7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
MCNEIL NOMINEES PTY LTD	LEVEL 16, 60 CASTLEREAGH STREET, SYDNEY NSW 2001
	--------------------------------------------

Signature

Print name	CRAIG SIDNEY	capecity	SECRETARY
sign haro		date	2007405-17

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the $(1)$ manager and trustee of en equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of parsons 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 mombers is clearly set out in paragraph 7 of the form.
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• $(3)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001,
• The voting shares of a company constitute one class unless divided into separate classes, $(4)$
• The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an $(5)$ associate has a relevant interest in.
• $(6)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• $(7)$ Includes details of:
  • any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy $(a)$ of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details for 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 (b) disposal of the 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.

• $(3)$ 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".
• $(\Theta)$ 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 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, even if they are not paid directly to the person from whom the relevant interest was acquired.

EARTPERSON WHOSE RELEVINTEREST CHANGEDDATE OF CHANGE	NATURE OF CHANGE	CONSIDERATIONN RELATION TOCHANGE	SECURITIESNUMBER OFAFFECTEDCLASSS &		AFFECTEDPERSON'SVOTES
CELIMITED18/04/2007 MCNEIL NOMINEES PTY		BALANCE	1,902,986	ርት	4.69%
20/04/2007 MCNEIL NOMINEES PTY LIMILTED	DECREASE IN HOLDING	2,965.18	7,000	요만	$\frac{2}{5}$
09/05/2007 MCNELL NOMINEES PTY LIMITED	DECREASE IN HOLDING	793,686.29	1,895,986	인도	4.67
LIMITED11/05/2007 MCNEIL NOMINEES PTY	NCREASE IN HOLDING	881,557.46	002,406	은도	5.13%
LIMITED14/05/2007 MCNEIL NOMINEES PTY	INCREASE IN HOLDING	445.48	1,052	요모	$0.00%$
		CURRENT HOLDING	2,083,538	مج	5.14 %

RAND MINING NL

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