SUNSTONE METALS LTD — Major Shareholding Notification 2010

Apr 15, 2010

FAX MESSAGE

To: Company:	0061297780999	Fax no:	+61297780999
From:	Gerard Lynch	Fax no: Phone no:	+44 20 7170 7948
Pages: Date:	3 16 April 2010 at 08:11	Fax Serial No:	117051
Subject:	Avalon Minerals Limited - form 603

603 page 1/2 15 July 2001

Form 603
-----------------

Corporations Act 2001 Section 671B

Notice of initial substantial holder

Jo., Company Name/Scheme		AVALON MINERALS LIMITED
ACN/ARSN		$AC_{2}$ $123$ $184$ $412$

1. Details of substantial holder (1)

Name

ACN/ARSN (if applicable)

GALENA SPECIAL SITUATIONS MASTER FOND LIMITED

The holder became a substantial holder on

$8,4,20,0$

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

Class of securities (4) .	Number of securities	Person's votes (5)	Voting power (6) energia del concerno con
$[0.80,10.845$ SHARES $-10.8$ $12, 397, 263$		12.397.263

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 Tobler are as follows:

Holder of relevant interest.	Nature of relevant interest (7)	Class and number of securities.
GALEVA SPECIAL SITUATIONS BENEFICIAL COUVER		12,397,263
MASTER FLWD LIMITED

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 HILLIOST	Registered holder of securities	Person entitled to be registered as holder (8).	Class and enaber of securities
lancewa bilicinto SITUATIONS MASTER (AUSTRALIA) LIMITED, SSCO ELA	MSAC CUSTODY NOUNDED		112.397.263
FUND LIMITED.

5. Consideration

The consideration paid for each refevant interest referred to in paragraph 3 above, and acquired in the four months prici to the day that the substantial helder because a substantial holder is as follows:

Holder of relevant interest	Date of acquisition		Consideration (9)		Class and mimber of securities
GALENA SPECIAL.			f'ash	Non-cash -	TORIO SHAATI
JIJUATIONS MASTER	TVARIOUS.		$A$ $D$ $1.557.354$		7,638.433
FUNS LIMITER	$8 - 4 - 2010$ Md 975,1491				4.758.334

$\sim 10^{-1}$

					page 272 15 July 2003 433
	6. Associates	The reasons the person creased in paragraph is above are assessates of the substantial holder are as fortcost
		Note: and AGMARSN fit englished it	Materie of association
	7. Addresses
		The addition of person investor this through as rollows.
	Signature	None Sources The Basic Asset Management Lineters Returned Head. And Sources Line 250 2 Represent Street, Louise WH God, Indiana Head. ASSE Conserved Management Street, Louise Lett God, Ind. 1998. KAIZEKTAINAKSEN KARLINE
		administration	JEROMA WEIR	$\frac{1}{2}$ denote $\frac{D_1R_2}{2}$ = 7.0263
		sign here		an 157 4 7 2010
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	$\downarrow$ $_{q}^{\Lambda}$	any gaulity allows their jawer of a parish to exercise, control the exercise of, or influence the exercic ori, the soling passes or idiomeal of ne scenaries to which the relevant arterest relates (indicater gistearly the particular securities to widen the quantic alter applies).
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