SILVER MINES LIMITED — Director's Dealing 2012

Oct 7, 2012

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity Silver Mines Limited ABN 107 452 942

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director Malcolm Bird Date of last notice 9 July 2012

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect / Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Malcolm Bird ATF Malcolm Bird Super Fund, Malcolm Bird
Date of change	2 October 2012
No. of securities held prior to change	631,850 ordinary Shares, 2,000,000 directors options exercisable at 50 cents, 1,000,000performance rights
Class	Ordinary and unlisted options
Number acquired	500,000 ordinary as a result of the Performance Rights Plan; and 83,334 ordinary as a result of the Securities Purchase Plan; and 41,667 unlisted options exercisable at 10 cents expiring 13 November 2013 as a result of the Securities Purchase Plan.
Number disposed	500,000 performance rights

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	As a result of a shareholder approved performance rights plan dated 30 November 2010 - nil; and Securities Purchase Plan 6 cents per ordinaryshare,unlisted options nil.
No. of securities held after change	1,215,184 ordinary Shares, 2,000,000 unlisted directors’ options exercisable at 50 cents and 41,667 unlisted options exercisable at 10 cents.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Issue of securities under Performance Rights Plan (500,000) and lapse of securities under same plan (500,000). Entering into the recent Securities Purchase Plan.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

• See chapter 19 for defined terms.

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01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms.

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