SAVANNAH GOLDFIELDS LIMITED — Major Shareholding Notification 2007

Oct 25, 2007

6.Oct. 2007 12:54			P.1 No.2708
	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 Royal Exchange NSW 1223.
Date	26 October 2007	Fax	Australia
То	Company Announcements Office The Australian Stock Exchange	1900 999 279	Tel: +61 2 9225 0200 Fax: +61 2 9225 1595 DX: 218 SYDNEY www.bakernet.com
From	Bill Fuggle
Ref #	542268-v1\BF1\TP9
Pages (w/cover)	5
Re	ASIC Form 604 (Notice of change of interests of substantial shareholder)

Please find attached ASIC Form 604 - Notice of change of interests of substantial shareholder in respect of Evolution Master Fund Ltd. SPC, Segregated Portfolio M and Evolution Capital Management LLC's holding of RENISON CONSOLIDATED MINES NL (RSN).

Yours faithfully, Bill Fuggle

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

$\sqrt{2}$

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Form $604$

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

	To: Company Name/Scheme
ACN ARSN	ACN 003 049 714

Details of substantial holder (1) $\mathbf{L}$

Name		Evolution Master Fund Ltd. SPC. Segregated Portfolio M and Evolution Capital Management LLC
ACN (if applicable).	Not applicable
There was a change in the interests of the substantial holder on :		25/10/2007
The previous notice was given to the company on		12/10/2007	$\cdots$
The previous notice was dated		12/10/2007

$\overline{2}$ . 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 (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows: $\mathcal{L}^{\text{max}}$

Class of Securities (4)		Provious notice		Present motive ________
	Person's votes	Voting power $(5)$	Person's votes	Veting power (5).
Ordinary Shares	61.579.481	7.85%	-40.422.807 ha final and the Parado and of the commercial commercial commercial commercial	-5.1695

Changes in relevant interests $\overline{\mathbf{3}}$ .

Particulars of each change in, or change in the nature of, a relevant interest or 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 (6)	Consideration eiven an relation to change.	Class and number of securities. affected	Person's votes. attected
Plase refer to Аппехите А	Esceluzion Master Fand. Ltd. SPC, Segregated Portfolio M and Evolution Copital Mariagement (Jul.) _________	NA	Please refer to Amesure A	Ordinary Plaise ruler to Annexare A	Please refer to Аппешие А

$\overline{4}$ . Present relevant interests

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

Holder of relevant interest	Resistered holder of securities.	Person entitled to be registered as bolder (8).	Nature of relevant. interest (6).	Class and number of Securities.	Person's votes
Evolution Master Fund Ltd. SPC. Segregated Portfolio M.	Citicorp Nominees Pty Utd	Evelopen Master Fund Lid SPC Segmented Portfolio M.	Chicorn Nominees Pty Ltd holds the securities on behalf of t/volution Musier Fund THE SPC. Segregated Portiblio M under al eustodial	Grammy Shires 40.472.807	5.16%

633444-v1/SYODMSVALSTP9

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			amunggongot
Evolution Capital Management LLL	Citicorp Nominees Fr. Ltd.	Evolution Maxter Fund Ltd. SPC. Segreented Pertfolio M	Investment Manager with power to dispose of shares held by: Evolution Masser Fame Ltd. SPC. Segregated Portfolio M	Ordinary Shares $5.16\%$ 40.472.807

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN (if applicable)		_________ Nature of association. 1979 - Y. 1980 1980 1980 1981 - Andre Leibert - Berger - Arthur 1980
	1.VA	-------
	the month of $\cdots$	$\cdots$ ---------------------------------------

6. Addresses

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

Nazoe	Address
RENISON CONSOLIDATED MINES NL (RSN)	Level 5, Santos House 60 Edward Street BRISBANE (OLD. AUSTRALIA, 4000
Evolution Master Fund Ltd. SPC. Segregated Portfolio M	Walker House, \$7 Mary Street, George Town KY1-9002, Grand Cayman, Cayman Islands
Evolution Capital Management LLC	2425 Olympic Boulevard, Suite 1201, Santa Monica, CA 90404
Adglan Bnndle	Divector, Evalution Master fund Ltd SPC,

Service State Signature print name. sign here	and the Contract Contract of the onnaic	POST CONTACT _____ scoregates fortuno M EVOLUTION CAPITAL Management La сарастк ∠જા⊣ date _____

Directions

• If there are a number of substantial shareholders with similar or related relevant interests (eg, a corporation and its related corporations, or $\mathfrak{r}$ 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 5 of the form
• $\overline{2}$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• $\mathbf{R}$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001
• $\overline{4}$ The voting shares of a company constitute one class unless divided into separate classes.
• 5 The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• $\tilde{\mathbf{6}}$ Include details of
• $\omega$ any relevant agreement or other circumstances by which the change in relevant interest occurred. If 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 accorate details of any contract, scheme or arrangencenc, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers $(a)$ or dioposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001

$\bar{L}$

$\sim$ $\sim$

$\mathcal{F}^{\text{max}}_{\text{max}}$

$\mathcal{L}_{\mathcal{A}}$

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 entitied to receive in relation to that ocquisition. Details m $\bar{\gamma}$

$\alpha$

• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write $\hat{\mathbf{S}}$ "unknown"
• $\hat{G}_j$ Give details, if appropriate, of the present association and any change in that association smos the last substantial holding notice.

633444-v1/SYDDN(S\AUSTP9

ANNEXURE A

This is Annexure A of 1 page referred to in Form 604 - Notice of change in interests in substantial shareholder

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

$\omega$ is a $\omega$

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

Clause 3: Changes since the substantial holder was last required to give a substantial holding notice to the company.

	Settlement	Consideration given in relation to change	Class and scourities
rude Date.	Date:		affected	Person's votes affected
		557.420.00	Ordinary
10/10/07	15/10/07		1.100.000	7.71%
		\$10,400.00	Ordinary
10/10/07	15/10/07		200,000	7.68%
		\$14,630.42	Ordinary
10/10/07	15/10/07		256,674	7.655
		\$772,000.00	Ordinary.
			19,300,000
			(picase see.more
	25/10/07*		at ["] below)	5.19%
		\$11.350.00.	Ordinary
24/10/07	29/10/07		250,000	5.16%

* Please note, this trade is a result of a closing/return of open borrowed positions in 19.3 million shares, and on 25/10/07 were valued at \$772,000.

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