REDSTONE RESOURCES LIMITED — Director's Dealing 2006

Sep 13, 2006

Appendix 3Y

9Rule 3.19A.2

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 30/9/2001.

Name of entity	REDSTONE RESOURCES LTD
IABN	42 090 169 154

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	Juan Carlos Olivero
Date of last notice	16 August 2006

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	Indirect Interest
Nature of indirect inferest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Exclusive Air Charter Pty Ltd (director)
Date of change	7 September 2006 and 12 September 2006
No. of securities held prior to change
Direct Interest	750,000 Class A Options (escrowed to 2August 2006 )750,000 Class B Options (escrowed to 2August 2006 )
Indirect Interest	805,000 Ordinary shares (580,000 Sharesescrowed to 2 August 2008) held byExclusive Air Charter Pty Ltd
Class	Ordinary Shares
Number acquired	32,500 Ordinary Shares
Number disposed	Nil

+ See chapter 19 for defined terms.

Value/ConsiderationNote: If consideration is non-eash, provide details and estimatedvaluation	$20,475
No. of securities held after change	750,000 Class A Options (escrowed to 2
Direct Interest	August 2006 )
	750,000 Class B Options (escrowed to 2
	August 2006)
Indirect Interest	837,500 Ordinary shares (580,000 Sharesescrowed to 2 August 2008) held byExclusive Air Charter Pty Ltd
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	On-market trade

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
No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation	N/A
Interest after change	N/A

$+$ See chapter 19 for defined terms.