STRIKE RESOURCES LIMITED — Major Shareholding Notification 2008

Aug 12, 2008

Form 603 Corporations Act Section 671B

Notice of initial substantial holder

To Company Name/Scheme STRIKE RESOURCES LIMITED (SRK)

ABN

94 088 488 724

1. Details of substantial holders[(1)]

Name

ACN / ABN

FAROOQ KHAN ( F KHAN ) ISLAND AUSTRALIA PTY LTD ( ISLAND ) A.C.N. 073 447 300 SKIN-PLEX LABORATORIES PTY LTD ( SKIN-PLEX ) A.C.N. 009 424 560 THE ESSENTIAL EARTH PTY LTD ( ESSENTIAL ) A.C.N. 009 029 305

The holders became substantial holders on 11 AUGUST 2008

2. Details of 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 on the date the substantial holder became a substantial holder are as follows:

Class of securities(4)	Number of securities	Persons' votes(5)	Voting power(6)
Ordinary Shares	13,520,812	13,520,812	10.4%

(A) Based on SRK total issued share capital being 130,034,268 shares

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest(7)	Class and number of securities
		Ordinary Shares
OEQ	Legal and beneficial holder of shares: (a) 7,750,000 shares issued by SRK to OEQ as consideration for the sale of all of the shares in Orion Indo Operations Pty Ltd held by OEQ to SRK, pursuant to a share sale deed dated 10 August 2008; (b) 1,750,000 shares issued by SRK to OEQ as consideration for the sale of all of the shares in Central Exchange Mining Ltd (name and status change to Orion Australian Operations Pty Ltd pending ASIC confirmation) held by OEQ to SRK, pursuant to a share sale deed dated 10 August 2008; (c) 3,490,802 shares acquired greater than 4 months prior to the day that OEQbecame a substantial holder	13,520,812

20080813 F_Khan_&_Ors_ASIC F603 - Initial Substantial Shareholder Notice in SRK

F KHAN	(a) Legal and beneficial holder of 530,010 shares acquired greater than 4 months prior to the day that F Khan became a substantial holder; and (b) Also taken under section 608(3)(a) of the Corporations Act to have a relevant interest in 12,990,802 shares in which QUE has a relevant interest by reason of having voting power above 20% in QUE (QUE is taken under section 608(3)(b) of the Corporations Act to have a relevant interest in securities in which OEQ has a relevant interest by reason of having control of OEQ)
ISLAND	An Associate of F Khan by virtue of F KHAN controlling each of ISLAND, SKIN-PLEX and ESSENTIAL
SKIN-PLEX
ESSENTIAL

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder(8)	Class and number of securities
			Ordinary Shares:
Allthe partiesnamedin(1)	OEQ	OEQ	530,010
All theparties named in(1)	F KHAN	F KHAN	12,990,802
TOTAL			13,520,812

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the 4 months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition (Disposal)	Consideration(9)	Consideration(9)	Class and number of securities
		Cash	Non-cash	Ordinary Shares
OEQ	11 August 2008 (date of issue of shares by SRK pursuant to settlement of the sale of Orion Indo Operations Pty Ltd by OEQ to SRK)	-	As consideration for the sale of all of the shares in Orion Indo Operations Pty Ltd held by OEQ to SRK, pursuant to a share sale deed dated 10 August 2008	7,750,000
OEQ	11 August 2008 (date of issue of shares by SRK pursuant to settlement of the sale of Central Exchange Mining Ltd (name and status change to Orion Australian Operations Pty Ltd pending ASIC confirmation) by OEQ to SRK)	-	As consideration for the sale of all of the shares in Central Exchange Mining Ltd (name and status change to Orion Australian Operations Pty Ltd pending ASIC confirmation) held by OEQ to SRK, pursuant to a share sale deed dated 10 August 2008	1,750,000
TOTAL				9,500,000

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
QUE and OEQ	QUE is taken under section 608(3)(b) of the Corporations Act to have a relevant interest in securitiesin whichOEQhas arelevantinterest byreasonof having controlofOEQ
QUE and F KHAN, ISLAND, SKIN- PLEX and ESSENTIAL	F KHAN, ISLAND, SKIN-PLEX and ESSENTIAL are taken section 608(3)(a) of the Corporations Act to have a relevant interest in securities in which QUE has a relevant interest byreasonof havingvoting powerabove20%inQUE
F KHAN and ISLAND, SKIN-PLEX and ESSENTIAL	By virtue of F KHAN controlling each of ISLAND, SKIN-PLEX and ESSENTIAL

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20080813 F_Khan_&_Ors_ASIC F603 - Initial Substantial Shareholder Notice in SRK

7. Addresses

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

Name	Address
ORION EQUITIES LIMITED ABN 77 000742843 (OEQ)	Level 14, The Forrest Centre, 221 St Georges Terrace, Perth, Western Australia 6000
QUESTE COMMUNICATIONS LTD ABN 58 081 688 164(QUE)	Level 14, The Forrest Centre, 221 St Georges Terrace, Perth, Western Australia 6000
F KHAN	C/- Level 14,TheForrest Centre,221St GeorgesTerrace,Perth,Western Australia 6000
ISLAND	C/- Attewells Public Accountants, Suite 2, 72 Canning Highway, Victoria Park,Western Australia 6100
SKIN-PLEX	C/- Attewells Public Accountants, Suite 2, 72 Canning Highway, VictoriaPark,Western Australia 6100
ESSENTIAL	C/- Attewells Public Accountants, Suite 2, 72 Canning Highway, Victoria Park,Western Australia 6100

Signature

sign here

print name FAROOQ KHAN

date 12 August 2008 Personally and as Director of ISLAND, SKIN-PLEX capacity and ESSENTIAL

DIRECTIONS

• (1) 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 7 of the form.

• (2) See the definition of "associate" in section 9 of the Corporations Act.

• (3)

• (4)

• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act.

• The voting shares of a company constitute one class unless divided into separate classes.

• (5) The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.

• (6) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (7) Include details of:

• (a) any relevant agreement or other circumstances by which the relevant interest was acquired. 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 accurate details of any contract, scheme 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).

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

• (8) If the substantial holder is unable to determine the identity of the person (eg if the relevant interest arises because of an option) write "unknown".

• (9) 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.

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