SANDFIRE RESOURCES LIMITED — Major Shareholding Notification 2008

May 4, 2008

2 Park Street Sydney NSW 2000 GPO Box 557 Sydney NSW 2001 Australia

T 61 2 8225 4066 F 61 2 8225 5461

facsimile

To:	ASX Company Announcements Platform &	Fax:	1900 999 279
	Mr Robert M. Lewis, Company Secretary, Sandfire Resources NL	Fax:	(08) 9226 5844
From:	Briana Mandile Citigroup Global Markets Australia Pty Limited	Fax:	(02) 8225 5461
Date:	5 May 2008	Pages:	3 (including cover sheet)
Subject:	Submission of Form 604 re: Sandfire Resources NL (SFR)

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if you do not receive all pages, please telephone on 61 2 8225 4066

This fax is confidential and may be privileged. If you are not the intended recipient, please notify the sender immediately by telephone.

Notice of change of interests of substantial	Form 604 Corporations Act
shareholder	Section 671B

To: Sandfire Resources NL ("SFR", Ordinary Fully Paid) ACN 105 154 185

$\mathbf 1$ . Details of substantial shareholder

Citigroup Global Markets Australia Pty Limited (ACN 003 114 832) and each of the related bodies corporate in the Citigroup group of companies worldwide (for more details please visit www.citigroup.com).

There was a change in the interests of the substantial holder on 5 May 2008.

The previous notice was dated and given to the company on 1 June 2007.

$2.$ Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate had a relevant interest in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities	Previous notice		Present notice
	Person's votes	Voting power	Person's votes	Voting power
SFR, Ordinary Fully Paid	4,833,332	7.43%	4,124,332	6.24%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change	Class and number of securities affected
5. May 2008	Citigroup Global Markets Limited	Prime Broker clients of Citigroup Global Markets Limited disposed of shares pursuant to contracts entered into in the ordinary course of business on a stock market of a stock exchange. containing no terms and conditions other than standard terms and conditions.	709,000 SFR Ordinary Fully Paid

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Date οf change	Person whose relevant Interest changed	Nature of change	Class and number of securities affected
May 5 2008	Citigroup Global Markets Limited	Citigroup Global Markets Limited held a relevant interest in these shares in its capacity as Prime Broker.	4,124,332 SFR Ordinary Fully Paid

5. Changes in association

The persons who have become associates of, ceased to be associates of, or have changed the nature of their association with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name	Nature of Association
N/A	---

6. Addresses

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

Name	Address
Citigroup Global Markets Australia Pty Limited	Level 22, Citigroup Centre 2 Park St Sydney NSW 2000
Citigroup Global Markets Limited	Citigroup Centre, 33 Canada Square. London E14 5LB

Dated this 5^th day of June 2008.

ManaManail

Briana Mandile Markets Compliance Citigroup Global Markets Australia Pty Limited