REDSTONE RESOURCES LIMITED — Board/Management Information 2007

Apr 29, 2007

30 April 2007

Manager Announcements Companies Announcements Office Australian Stock Exchange Limited Level 4/20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

RETIREMENT OF CHAIRMAN AND APPOINTMENT OF DIRECTOR

Redstone Resources Limited wishes to announce a restructure of its operational and board composition as a result of the increased level of exploration, target generation and project acquisition. This new structure will better meet the demands of a dynamic exploration company with an extensive project acquisition and development strategy.

Effective from today, Professor David Groves will retire as Chairman and Board Member of Redstone Resources Limited, and will assume the role of Chief Technical Consultant to the Company.

This move will allow Professor Groves to devote greater time to Redstone's geological targeting and new project acquisition. It also follows the recent expansion of the Redstone exploration and geological teams to reflect the increased level of exploration and targeting activity.

Professor Groves will be replaced as Chairman of the Board of Directors of Redstone Resources Limited by Anthony Ailakis, who will move into the role of Executive Chairman. Anthony Ailakis will retain an executive role within Redstone to focus primarily on strategy. investor relations and the development of new business opportunities for Redstone.

Redstone is also pleased to announce the appointment of Stephen Fountain (BBus, F Fin) as an Executive Director and General Manager, responsible for the financial and operational management of the company. Stephen Fountain has significant experience in the resources sector and has held a range of senior analytical and financial management roles working for companies including WMC Resources. LionOre Australia. Harmony Gold Australia. He will move to Redstone from his current position with BHP Billiton (Nickel West).

Redstone also intends to continue to expand its board of directors as required.

Yours sincerely

Anthony Ailakis Chairman