RIEDEL RESOURCES LIMITED — Director's Dealing 2011

May 3, 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	Andrew Ross Childs
Date of last notice	9 February 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 and Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances givingrise to the relevant interest.	Marina Childs
Date of change	4 May 2011
No. of securities held prior to change	Direct - 600,000 ordinary sharesIndirect – 2,000,000 30c unlisted options expiring30 June 2014
Class	Ordinary
Number acquired	50,000
Number disposed	-
Value/ConsiderationNote: If consideration is non-cash, provide detailsand estimated valuation	$7,537.50

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after changeNature of changeExample: on-market trade, off-market trade,exercise of options, issue of securities underdividend reinvestment plan, participation in buy-back	Direct - 650,000 ordinary sharesIndirect – 2,000,000 30c unlisted options expiring30 June 2014On-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 contractNature of interestName of registered holder(if issued securities)Date of changeNo. and class of securities to whichinterest related prior to changeNote: Details are only required for acontract in relation to which theinterest has changedInterest acquiredInterest disposed	NA
Value/ConsiderationNote: If consideration is non-cash,provide details and an estimatedvaluation
Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Part 3 –[+] Closed period

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

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3