RED METAL LIMITED — Director's Dealing 2011

Oct 20, 2011

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	RED METAL LIMITED
ABN	34 103 367 684

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	RUSSELL BARWICK
Date of last notice	30 NOVEMBER 2010

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
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	N/A
Date of change	19 October 2011
No. of securities held prior to change	2,100,000 Shares and 500,000 Optionsexercisable at 22 cents expiring 31 October2013
Class	Shares
Number acquired	74,000
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	16 cents/share
No. of securities held after change	2,174,000 Shares and 500,000 Optionsexercisable at 22 cents expiring 31 October2013

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change On market trade Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

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	Detail of contract	Detail of contract	Detail of contract	N/A	N/A	N/A	N/A	N/A	N/A
	Nature of interest
	Name of registered holder(if issued securities)
	Date of change
	No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed
	Interest acquired
	Interest	disposed
	Value/Co	nsideration
Note: If coand an estimInterestPt 3+	Note: If coand an estim	nsideration is non-ated valuation	cash, provide detai	ls
	Interest	after change
		Closed perio	d
ar –
	Were th			es or contra		cts detailed	No
		e interests inaded during	the securitia+closed p
	above tr			riod where		prior written
		e was require	d?
clearancIf so, wato proceIf prior wprovided	clearanc
	If so, wato proce	s prior writteed during this	n clearance pperiod?	rovided to all		ow the trade
							N/A
	If prior wprovided	ritten clearan?	ce was provid	ed, on what d		ate was this	N/A

Part 3 –[+] Closed period

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

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011