SANDFIRE RESOURCES LIMITED — Major Shareholding Notification 2004

Mar 11, 2004

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme	Sandfire Resources NL
ACN/ARSN	105 154 185
1. Details of substantial holder (1)
Name	Faustus Nominees Pty Ltd (Faustus)
ACN / ARSN (if applicable)	008 874 315.
	-----

The holder became a substantial holder on 27/02/04

2. Details of voting power

The lotal number of votes attached to all the voting shares in the company or voting interests in the scherne that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,secunties	--------.Number" of securities.	______________________________________votesParenne--------------------------------------	power.ʻOʻll.----------------------
OrdinaryPard.⊁ ullγ.	2AQいいいالمتعاقبات المتاريخ	tin.استسلاب	rna.ار کاف ۳۰
(ORDShares,____________________________________			--------------------------------------

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

it relevant interes. I-molder -Ωĭ.	--------------------------------------* GALAVAL.1123 E 5 SANT- 13..----	_______________________________________of securities, numher c'-Automatic and all contract and a structure of the subset of the contract of the contract and subset of the contract of
	HoldeiYI C. CARE COAThandled and and an analysis of the series of the series of the series of the series of the series of the series of the series of the series of the series of the series of the series of the series of the series of the serie	.______________________________________

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant.	- Registered holder of	- Person entitted to be	_______________________________________Ciass and number-- 01
interes.	secunties.	registered as holder i	secuntiesوالمستحقق المتحامل المتحال المتحال المتحدة المحالية المتحدة المستحققات المحالة المحالة المحالية المستنب والمحالية
-raustur------------	Coloraustus______________________________________	MAIRSTUS	662.536a a seu a a a a a a a a a a a cheal cheal a a chealach a chealach a cheal a cheal a a chead a a a a a a a a a

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant	Date of acquisition	Consideration (9)		______________________________________Class and number of
interest		---	$ -$	securities
		Cast	Non-cashustas autonominatorium sussaus autonominatorium preprogramamis provinciam programmam	________
______________________________________Faustusin a concern and the process of the concern of the concern of the concern of the concern of the concern of the		---------------------------------------	See Note	.662.536

Note 1

Issue of shares to promoters as set out in the Sandfire Resources NL prospectus dated 14 January 2004 (see Summary of Material Agreements -Agreements with Promoters and Additional Information- Interest, Fees and Benefits, paragraph (e))

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,-----------------$\sim$ $\sim$ $\sim$ $\sim$ $\sim$	as assistantes de terres de terres de la terrescence en encontraren en la componenta de la compo------------------------
	.
コイングЭΘ.'Nati.er ACOLL	an Bilthi
. .	_______________________________________-----------------------------------------------

7. Addresses

The addresses of persons named in this form are as follows:

----------------------------------------------_______	PERSONAL---------------$-$.__
$\sim$ 1.00уанк.
.---------$- - - - -$.	and the first--------------------------------------
$\overline{\phantom{0}}$L 3 U.	-wwae∙⊤ د کده .
— Компания и происходились в компании положения получивания получивания области получивания получивания	-------------------------------+----------------------------------------------------

Signature

• If there are a number of substantial holders with similar/or related relevant interests (eg. a corporation and its related corporations, or the $(1)$ manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.