RAREX LIMITED — Director's Dealing 2013

Aug 1, 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	CLANCY EXPLORATION LIMITED
ABN	65 105 578 758

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	MICHAEL ANTHONY ETHERIDGE
Date of last notice	9 NOVEMBER 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	Direct and Indirect	Direct and Indirect	Direct and Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Tectonex Geoconsultants Pty Ltd ATF Superannuation Fund>. Michael Etheridge is a beneficiary of the superannuation fund and is a director and shareholder of the trustee company.
Date of change	31 July 2013
No. of securities held prior to change	Holder	Security	Number
	Tectonex Geoconsultants Pty Ltd ATF Superannuation\ Fund>	Ordinary fully paid shares	1,718,847
	Tectonex Geoconsultants Pty Ltd ATF Superannuation\ Fund>	Listed options expiring 31 July 2013 @ 15 cents each	259,424
	Michael Etheridge	Ordinary fully paid shares	793,030
Class	Listed options expiring 31 July 2013 @ 15 cents each

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Number acquired	Nil	Nil	Nil
Number disposed/expired	259,424 - Expired
Value/Consideration Note: If consideration is non‐cash, provide details and estimated valuation	Nil
No. of securities held after change	Holder	Security	Number
	Tectonex Geoconsultants Pty Ltd ATF Superannuation\ Fund>	Ordinary fully paid shares	1,718,847
	Michael Etheridge	Ordinary fully paid shares	793,030
Nature of change Example: on‐market trade, off‐market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy‐back	Expiry of Listed Options on 31 July 2013.

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

Part 3 –[+] Closed period

Part 3– +Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	-
If prior written clearance was provided, on what date was this provided?	-

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011