VAULT MINERALS LIMITED — Director's Dealing 2003

Nov 2, 2003

Telephone: +61 8 9322 4455 Facsimile: +61 8 9481 5950

3 November 2003

Manager Announcements Company Announcements Office Australian Stock Exchange Limited Level 4 20 Bridge Street SYDNEY NSW 2000

BY Electronic Lodgement (7 PAGES)

Dear Sir/Madam

APPENDIX 3Y

In accordance with ASX Listing Rule 3.19A, please find enclosed amendments to Appendix 3Y notices lodged on 31 October 2003 on behalf of Mr Nicholas Smith, Mr Greg Edwards and Mr Lance Govey.

Yours faithfully

FRANK CAMPAGNA Company Secretary

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:	Red 5 Limited
ABN:	73 068 647 610

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:	Nicholas James Smith
Date of last notice:	4 December 2002

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

Direct or indirect interest	Direct and indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest	Gandalf Holdings Pty Ltd (as trustee for the Portcullis Provident Fund)
Date of change	27 October 2003
Number of securities held prior to change	65,000 fully paid shares $1,000,000$ options exercisable at 20 cents each by 31.12.03 $2,000,000$ options exercisable at 40 cents each by 31.12.04 $2,000,000$ options exercisable at 60 cents each by $31.12.05$
Class	Fully paid shares
Number acquired	(i) $19,500$ (direct) (ii) $275,000$ (indirect)
Number disposed
Value/consideration Note: If consideration is non-cash, provide details and estimated valuation	$(i)$ \$1,424 (ii) $$20,625$

⁺ See chapter 19 for defined terms.

Number of securities held after change	Nicholas James Smith Nicholas James Smith Gandalf Holdings Pty Ltd (as trustee for	84,500 shares 2,500,000 unlisted options
	the Portcullis Provident Fund) Gandalf Holdings Pty Ltd (as trustee for	2,500,000 unlisted options
	the Portcullis Provident Fund)	275,000 shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Subscription under pro-rata rights issue (19,500 shares) (i) (ii) Off market acquisition (275,000 shares)

Part 2 - Change of director's interests in contracts

Details of contract
Nature of interest
Name of registered holder (if issued securities)
Date of change
Number 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
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

⁺ See chapter 19 for defined terms.

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:	Red 5 Limited
ABN:	73 068 647 610

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:	Allen Lance Govey
Date of last notice:	4 December 2002

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

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest	Allen Lance Govey (as trustee for Govey Family Trust)
Date of change	27 October 2003
Number of securities held prior to change	6,055,000 fully paid shares 2,500,000 listed 20 cent options (31.01.04) 3,000,000 unlisted 10 cent options (16.11.03)
Class	Fully paid shares
Number acquired	(i) $1,816,500$ (direct) $1,816,500$ (indirect)
Number disposed	(ii) 1,816,500
Value/consideration Note: If consideration is non-cash, provide details and estimated valuation	\$132,605 (i) (ii) \$136,237

⁺ See chapter 19 for defined terms.

Number of securities held after change	$6,055,000$ fully paid shares 2,500,000 listed 20 cent options (31.01.04) 3,000,000 unlisted 10 cent options (16.11.03) 1,816,500 fully paid shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Subscription under pro-rata rights issue. (i) (ii) Off-market transfer.

Part 2 - Change of director's interests in contracts

Details of contract
Nature of interest
Name of registered holder
(if issued securities)
Date of change
Number 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
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details and an estimated
valuation
Interest after change

⁺ See chapter 19 for defined terms.

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:	Red 5 Limited
ABN:	73 068 647 610

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:	Gregory Charles Edwards
Date of last notice:	4 December 2002

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

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest	Gregory Charles Edwards (as trustee for Edwards Family Trust)
Date of change	27 October 2003
Number of securities held prior to change	6,055,000 fully paid shares 2,500,000 listed 20 cent options (31.01.04) 3,000,000 unlisted 10 cent options (16.11.03)
Class	Fully paid shares
Number acquired	1,816,500 (direct) 1,816,500 (indirect) (i)
Number disposed	1,816,500 (ii)
Value/consideration Note: If consideration is non-cash, provide details and estimated valuation	\$132,605 (i) \$136,237 (ii)

⁺ See chapter 19 for defined terms.

Number of securities held after change	$6,055,000$ fully paid shares 2,500,000 listed 20 cent options (31.01.04) 3,000,000 unlisted 10 cent options (16.11.03) 1,816,500 fully paid shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Subscription under pro-rata rights issue. (i) (ii) Off-market transfer.

Part 2 - Change of director's interests in contracts

Details of contract
Nature of interest
Name of registered holder (if issued securities)
Date of change
Number 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
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

⁺ See chapter 19 for defined terms.