REDSTONE RESOURCES LIMITED — Director's Dealing 2007

May 3, 2007

Appendix 3Z

Rule 3.19A.3

Final 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.3 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of director	David Ian Groves
Date of last notice	24 August 2006
Date that director ceased to be director	30 April 2006

Part 1 - Director's relevant interests in securities of which the director is the registered holder 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.

Number & class of securities

10,000 Ordinary Shares

450,000 Class A Options (escrowed to 2 August 2006) 450,000 Class B Options (escrowed to 2 August 2006)

+ See chapter 19 for defined terms.

Part 2 - Director's relevant interests in securities of which the director is not the registered holder

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.

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature of interestNote: Provide details of the circumstances giving rise tothe relevant interest	Number & class of securities
Indirect Interest - Suzanne MarieGroves (spouse)	300,000 Class A Options (escrowed to 2 August2006)
	300,000 Class B Options (escrowed to 2 August2006)

Part 3 - Director's interests in contracts

Detail of contract
Nature of interest
Name of registered holder(if issued securities)
No. and class of securities towhich interest relates

$+$ See chapter 19 for defined terms.