XREF LIMITED — Director's Dealing 2010

Dec 20, 2010

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King Solomon Mines Limited ARBN 122 404 666 Unit 31, 2 Bishop Dunn Place East Tamaki, Manukau 2013, New Zealand Office (within Australia): 1 800 061 569 (outside Australia): +64 4 905 9608 Fax: +64 4 905 9607 enquiries@kingsolomonmines.com www.kingsolomonmines.com

21 December 2010

Company Announcements Office Australian Securities Exchange Limited

King Solomon Mines Limited’s Securities Trading Policy

In accordance with ASX Listing Rule 12.9 which takes effect on 1 January 2011, we attach a copy of King Solomon Mines Limited ’ s compliant Securities Trading Policy.

King Solomon Mines Limited

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Stephen McPhail Managing Director

King Solomon Mines Limited Securities Trading Policy

The Company has a policy concerning trading in its securities by Directors, management, staff and significant consultants as follows:

KSO complies with the Continuous Disclosure requirements of the ASX listing rules and accordingly the market is kept fully and currently informed about all material matters which might affect trading in the Company ’ s securities. Purchases or sales in the Company ’ s shares by Directors, employees and key consultants should preferably be carried out in the “ window ” , being the period commencing two days and ending 30 days following the date of announcement of the Company ’ s annual or half yearly results, its quarterly reports or a major announcement leading in the opinion of the board to an informed market. Trading outside a trading window by Directors, employees and key consultants must only occur after consultation with the Chairman of the Board or the Managing Director. Directors, employees and key consultants are prohibited from buying or selling KSO shares at any time if they are aware of price sensitive information that has not been made public.

General Note

The purpose of the Securities Trading Policy is to create awareness among KSO ’ s Directors, employees and key consultants of the legal prohibition on dealing in securities of the Company and deals with the manner in which the Company ’ s Directors, employees and key consultants can deal in securities in the Company. The Policy also aims to ensure that the Company's reputation and those of its Directors, employees and key consultants is not adversely impacted by perceptions of dealing at inappropriate times. The Policy ’ s rules are designed to assist in preventing breaches of the insider trading provisions of the Corporations Act. Ultimately it is the responsibility of the Company ’ s Directors, employees and key consultants to ensure that none of their dealings could constitute insider trading.

Directors are required to provide in writing (electronic notification or clearance by email is permitted ) details of all changes to their interest in the Company's securities registered in the name of the Director or held on behalf of the Director, directly or indirectly.

If changes in interests in those Company securities or contracts are traded during a Closed Period where prior written notice is required under the ASX Listing Rules, the Director must provide the following details in writing (electronic notification or clearance by email is permitted) to the Company:

(a) Whether prior written notice was provided to allow the trade to proceed during this Closed Period; and (b) If prior written notice was provided, the date this was provided.

The details must be provided as soon as reasonably possible after the date of the change and in any event no later than two business days after the change to allow for compliance with the ASX Listing Rule obligations.