ST BARBARA LIMITED — Director's Dealing 2004

Jul 26, 2004

ST BARBARA MINES LIMITED

ASX SHAREHOLDERS REPORT

Enquiries regarding this report may be directed to:

Eduard Eshuys

Managing Director Telephone (08) 9476 5555 Overseas +61 8 9476 5555

St Barbara Mines Limited ACN 009 165 066 Level 2, 16 Ord Street West Perth Western Australia 6005 Telephone (08) 9476 5555 Overseas +61 8 9476 5555

Change of Director's Interest Notice

Attached please find Change of Director's Interest Notice (Appendix 3Y) for Hank Tuten.

Lee Boyd Company Secretary

27 July 2004

Appendix 3Y

Rule 3.19A.2

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 $30/9/2001$ .

Name of entity	St Barbara Mines Limited
ABN	36 009 165 066

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	Mr Henderson Gilbert Tuten
Date of last notice	5 December 2003

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
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Chairman of Resource Capital Funds ManagementLLC, a management company that has day to daymanagement of Resource Capital Fund II L.P.
Date of change	See schedule
No. of securities held prior to change	See schedule
Class	See schedule
Number acquired	See schedule
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	See schedule
No. of securities held after change	See schedule
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	See schedule

+ See chapter 19 for defined terms.

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
Name of registered holder
(if issued securities)
Date of change
No, and class of securities to which
interest related prior to changeNote: Details are only required for a contract in relationto which the interest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation
Interest after change

+ See chapter 19 for defined terms.

Schedule to form 3Y - Mr Hank Tuten

Issue Date	Quantity	Consideration (S)
7-Jan-02	2,352,403	500,000
$10-Apr-02$	7,058,824	1,500,000
$15 - \text{Jul} - 02$	1,210,052(1)	246,438.36(1)
	(2)196,562	44,479.45(2)
$2$ -Dec-02	1,562,000	150,000
$7-Jan-03$	4,261,200(1)	435,068.49(1)
	1,067,616(2)	90,000(2)
	437,006(3)	49,643.84(3)
14-Mar-03	500.	$Nil*$
$7 - Ju - 03$	15,910,922	595,068.49
$28-Nov-03$	(1)3,684,932	(1)294,795
	(2)4,500,000	(2)360,000
	87,500,000(3)	7,000,000(3)
$21-Ju1-04$	26,591,453	1,223,206.84
Total	156,333,470

Ordinary Shares held by Resource Capital Fund II L.P.

Note:

$\bar{\mathbf{R}}$ Shares issued in correction of share entitlement

+ See chapter 19 for defined terms.

Issue Date	Expiry Date	ExercisePrice	Quantity	Consideration*
				(8)
17-Feb-03	31-Dec-05	A$.1100	1,000,000	$46,879
$7 - Jan - 03$	7-Jul-06	A$.1138	3,177,890	$182,029
$8-Jul-03$	$7 - Jan - 07$	A$.1138	17,430,243	$166,466
20-May-02	20-May-05	A$.2086	36,118	$2,525
31-May-02	$3-Jun-05$	A$.2086	50,894	$5,463
15-May-02	$15 -$ Jul $-05$	A$.2086	49,252	$3,942
13-Aug-02	13-Aug-05	A$.2086	50,894	$2,614
5-Sep-02	6-Sep-05	A$.2086	50,894	$2,357
10-Oct-02	15-Oct-05	A$.2086	49,252	$1,523
$7 - Jan - 03$	$7-Jul-06$	A$.2086	151,040	$5,527
$8-Jul-03$	$7-Jan-07$	A$.2086	594,308	$2,914
31-May-02	$3-Jun-05$	A$.2124	88,680	$9,382
15-May-02	$15 - Jul - 05$	A$.2124	241,854	$19,054
13-Aug-02	13-Aug-05	A$.2124	249,917	$12,602
5-Sep-02	$6-Sep-05$	A$.2124	249,917	$11,361
10-Oct-02	15-Oct-05	A$.2124	241,854	$7,328
$7-Jan-03$	$7-Jul-06$	A$.2124	741,686	$26,710
$8-Jul-03$	$7 - Jan - 07$	A$.2124	2,918,376	$13,989
11-Feb-02	7-Feb-05	A$.2125	157,938	$17,931
5-Mar-02	5-Mar-05	A$.2125	373,893	$27,806
28-Mar-02	$2-Apr-05$	A$.2125	449,638	$37,428
20-May-02	20-May-05	A$.2125	470,589	$32,307
31-May-02	$3-Jun-05$	A$.2125	499,597	$52,835
15-May-02	$15 -$ Jul $-05$	A$.2125	483,482	$38,075
13-Aug-02	13-Aug-05	A$.2125	499,597	$25,181
5-Sep-02	6-Sep-05	A$.2125	499,597	$22,701
10-Oct-02	15-Oct-05	A$.2125	483,482	$14,641
$7 - Jan-03$	7-Jul-06	A$.2125	1,482,677	$53,373
$8-Jul-03$	$7 - Jan - 07$	A$.2125	5,834,004	$27,947
28-Nov-03	24-May-08	A$.1138	14,252,357	$502,627
28-Nov-03	24-May-08	A$.2086	485,953	$11,990
28-Nov-03	24-May-08	A$.2124	2,386,296	$58,159
28-Nov-03	24-May-08	A$.2125	257,857	$6,283

Unlisted Options held by Resource Capital Fund II L.P.

Note:

$\frac{1}{2}$ Consideration is valued using a Black-Scholes calculation with the following assumptions:

• share prices on the date of issue, $\Box$
• a 5% interest rate $\ddot{\phantom{0}}$
• $\ddot{\phantom{a}}$ 65% volatility

+ See chapter 19 for defined terms.