Change of Director's Interest Notice

22 May 2012 07:16

Appendix 3Y Change of Director's Interest Notice Information or documents not available now must be given to ASX as soon asavailable. Information and documents given to ASX become ASX's property and maybe made public.Introduced 30/09/01 Amended 01/01/11Name of entity Red Emperor Resources NL ABN 99 124 734 961 We (the entity) give ASX the following information under listing rule 3.19A.2and as agent for the director for the purposes of section 205G of theCorporations Act.Name of Director Greg Bandy Date of last notice 28 July 2011

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) ofthe definition of "notifiable interest of a director" should be disclosed inthis part.Direct or indirect interest Indirect Nature of indirect interest Mr Gregory John Bandy & Mrs Jennifer Therese Bandy

(including registered holder) A/C> - beneficial holder Note: Provide details of the circumstances giving rise to the

relevant interest. Date of change 22 May 2012

No. of securities held prior to change 3,000,000 options ($0.30; 30 June

2012) Class Ordinary Shares Number acquired 400,000 Number disposed Nil Value/Consideration $91,765.95

Note: If consideration is non-cash, provide details and estimated valuation No. of securities held after change 3,000,000 options ($0.30; 30 June

2012) Mr Gregory John Bandy & Mrs Jennifer Therese Bandy 400,000 fully paid ordinary shares Nature of change On-market trade

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) ofthe definition of "notifiable interest of a director" should be disclosed inthis part.Detail of contract N/A Nature of interest N/A Name of registered holder N/A (if issued securities) Date of change N/A

No. and class of securities to N/A

which interest related prior to change Note: Details are only required for a contract in

relation to which the interest

has changed Interest acquired N/A Interest disposed N/A Value/Consideration N/A Note: If consideration is

non-cash, provide details and

an estimated valuation Interest after change N/A Part 3 - +Closed period

Were the interests in the securities or contracts No detailed above traded during a +closed period where prior written clearance was required? If so, was prior written clearance provided to N/A allow the trade to proceed during this period? If prior written clearance was provided, on what N/A

date was this provided?