SAVANNAH GOLDFIELDS LIMITED — Major Shareholding Notification 2007

Nov 6, 2007

7. Nov. 2007 15:41			P. 1/4 No.2728
	BAKER & MCKENZIE		Facsimile Transmission
			Baker & McKenzie
			Level 27 AMP Centre
			50 Bridge Street Sydney. NSW 2000, Australia
			ABN 32 266 778 912
			Postal Address:
			P.O. Box R126
Date	7 November 2007	Fax	Royal Exchange NSW 1223 Australia
To			Tel: +61 2 9225 0200
	Company Announcements Office	1900 999 279	Fax: +61 2 9225 1595 DX: 218 SYDNEY
	The Australian Stock Exchange		www.bakernet.com
From	Bill Fuggle
Ref #	637873-v1\SYDDMS\BF1\AUSEH8
Pages (w/cover)	4
Re	ASIC Form 605 (Notice of ceasing to be a substantial shareholder)
	Please find attached ASIC Form 605 - Notice of ceasing to be a substantial shareholder
	in respect of Evolution Master Fund Ltd. SPC, Segregated Portfolio M, Evo Fund and

Yours faithfully,

NL (RSN).

worker r J

Bill Fuggle Partner +61 2 8922 5100 bill.fuggle@bakernet.com

Privacy and Confidentiality Notice

The information contained in this facsimile is intended for the named recipients only. It may contain privileged and confidential information and if you are not an intended recipient, you must not copy, distribute or take any action in reliance on it. If you have received this facsimile in error, please notify us immediately by collect telephone call to +61 2 9225 0200 and return the original to the sender by mail. We will reimburse you for the postage.

Evolution Capital Management LLC's holding of RENISON CONSOLIDATED MINES

Baker & McKenzie, an Australian Partnership is a member of Baker & McKenzie International a Swiss Verein

Form 605

Corporations Act 2001 Section 671B Notice of ceasing to be a substantial holder

To Company Name/Scheme	RENISON CONSOLIDATED MINES NL (RSN)
ACN/ARSN	003 049 714
ı. Details of substantial holder (1)
Name	Evolution Master Fund Ltd. SPC, Segregated Portfolio M and Evolution Capital Management LLC
ACN/ARSN (if applicable)	Not applicable
The holder ceased to be a substantial holder on	9/11/2007
The previous notice was given to the company on	25/10/2007
The previous notice was dated	25/10/2007
2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) 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 (4)	Consideration given in relation to change $(5)$	Class $(6)$ and number of securities affected	Person's votes affected
Please refer to Annexure A	Evolution Master Fund Ltd. SPC. Segregated Portfolio M and Evolution Capital Management TTC.	N/A	Please refer to Annexure A and the .	Please refer to Annexure A.	Please refer to Annexure A.

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

holder and the company of the company of the company of the company of the company of the company of the company	The Second Lands
Name and ACN/ARSN (if applicable) Nature of association	________
- N/A	N/A
	the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract o

$\overline{4}$ Addresses

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

Name MBVES NL RENISON CONSOLIDATED (RSN)	Address Level 5, Santos House, 60 Edward Street, BRISBANE, OLD, AUSTRALIA, 4000
Evolution Master Fund Ltd. SPC, Segregated Ponfolio M	Waiker House, 87 Mary Street George Town KY1-9002. Grand Cayman, Cayman Islands

	Evolution Capital Management LLC	2425 Olympic Boulevard, Suite 120E, Santa Monica, CA 90404
Signature	print name Adrian Brindle sign here	CEO of Evolution Cortal Monogeneral LLC Connector of Evolution Master Fund connector Lid ster Segregated Portfolio date $11 + 6 + 07$

Directions

• $\mathbf{I}$ If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the 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 4 of the form.
• $\overline{\mathbf{2}}$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• $\overline{3}$ See the definition of "associate" in section 9 of the Corporations Act 2001
• $\overline{4}$ Include details of
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If $(a)$ subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, selieme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• $(b)$ any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).
• 5 Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired
• $\mathbf{6}$ The voting shares of the company constitute one class unless divided into separate classes.
• $\overline{7}$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

ANNEXURE A

This is Annexure A of I page referred to in Form 605 - Notice of ceasing to be a substantial share holder

Company^, RENISON CONSOLIDATED MINES NL (RSN), ACN: 003-049-714

Substantial holder: Evolution Master Fund Ltd SPC, Segregated Portfolio M ACN (Not applicable) and Evolution Capital Management LLC ACN (Not applicable)

Clause 2: Changes in relevant interests.

		Consideration given in relation to change	Class and number of
Trade Date	Settlement Date		securities $\otimes$ a free feed $\otimes$	Person's voles affected
		\$14,145.00	Ordinary
25/10/2007	30/10/2007		307,500	307,500
		\$3,220.00	Ordinary
26/10/2007	31/10/2007		70,000	70,000
		\$6,915.00	Ordinary
29/10/2007	01/11/2007		150,000	150,000
		\$846.00	Ordinary
01/11/2007	07/11/2007		18,000	18,000
		\$10,916.29	Ordinary
02/11/2007	08/11/2007		240,447	240,447
		\$23,860.20	Ordinary
05/11/2002	09/11/2007		494.000	494.000 .