SANDFIRE RESOURCES LIMITED — Share Issue/Capital Change 2006

Oct 22, 2006

1 VENTNOR AVE WEST PERTH 6005 WESTERN AUSTRALIA T +61 8 9226 5833
F +61 8 9226 5844 f asimin@sandfirm.com.am www.sadfire.com.au

No. of pages lodged: 1

Company Announcements Office Australian Stock Exchange Limited 4^th Floor 20 Bridge Street SYDNEY NSW 2000

INCORRECT HEADING - CONTRIBUTING SHARES PAID UP NOT OPTIONS CONVERTED

An Appendix 3B released this day showed a heading of "Options Converted". The Appendix 3B clearly shows that this related to 1 million Contributing Shares being paid up.

An Appendix 3B will be released as soon as cleared funds are received.

Mal Smartt Company Secretary 23 October 2006