RIEDEL RESOURCES LIMITED — Director's Dealing 2011

Jul 27, 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 Riedel Resources Limited ABN 91 143 042 022

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	Bruce Robert Errol Franzen
Date of last notice	10 June 2011

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 givingrise to the relevant interest.
Date of change	26 July 2011
No. of securities held prior to change	Direct - 600,100 ordinary sharesDirect - 300,049 Options 20c ex, expiry 30Nov2012Direct – 2,000,000 30c unlisted optionsexpiring 30 June 2014
Class	a) Performance Rightsb) Performance Rightsc)Performance Rightsd) FullyPaid OrdinaryShares

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Appendix 3YChange of Director’s Interest Notice	Appendix 3YChange of Director’s Interest Notice	Appendix 3YChange of Director’s Interest Notice	Appendix 3YChange of Director’s Interest Notice	Appendix 3YChange of Director’s Interest Notice	Appendix 3YChange of Director’s Interest Notice
	Number acquired					a) 666,667 performance rights vesting
						when the Company’s share price is equal
						to or greater than Au27 cents for 20
						consecutive trading days, expiry 25 July2014b) 666,667 performance rights vestingwhen the Company’s share price is equalto or greater than Au36 cents for 20
						consecut		ive trading days, expiry 25 July
						2014
						c)666,666 performance rights vestingwhen the Company’s share price is equalto or greater than Au45 cents for 20consecutive trading days, expiry 25 July2014d) 86,660 Fully Paid Ordinary Shares
	Number disposed					-
	Value/ConsiderationNote: If consideration is non-cash, provide detailsand estimated valuation					Valuations as per Black Scholes option pricingmodel – Performance Rights, Shares at marketvalue.
						a) $0.047 ce		nts per right
						b) $0.038 ce		nts per right
						c)$0.031 cents per rightd) 12 cents per share
	No. of securities held after change					Direct - 686,760 fully paid ordinary sharesDirect - 300,049 Options 20c ex, expiry 30Nov2012Direct – 2,000,000 30c unlisted options expiring30 June 2014
						Direct – 66666		7 performance rights vesting
						,when t		he Company’s share price is
						equal t		o or greater than Au27 cents for
						20 consJuly 201		ecutive trading days, expiry 254
						Direct – 666,667 performance rights vestingwhen the Company’s share price isequal to or greater than Au36 cents for20 consecutive trading days, expiry 25Jl 2014
						Direct	uy- 666,666 perfo		rmance rights ve	sting
							when the Com		pany’s share pric	e is
							equal to or gr20 consecutiv		eater than Au45 ce trading days, ex	ents forpiry 25
							July2014
	Nature ofExample:exercise	changeon-market traof options, issu	de, off-markete of securities		trade,under	Grantapprov	of performanceed at GM of Sha		rights and issuereholders held o	of sharesn 14 July
dividendback	dividendback	reinvestment pla	n, participation		in buy-	2011

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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	NA
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 acontract in relation to which theinterest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash,provide details and an estimatedvaluation
Interest after change

Part 3 –[+] Closed period

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

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3