Ann: Appendix 3Y - Change in Directors Interest N, page-3

re: Ann: Appendix 3Y - Change in Directors In... Corporate Update
The Directors of Octagonal Resources Limited (ASX: ORS) (“Octagonal” or “Company”) wish to advise that the Directors and staff of Octagonal, together with a small syndicate of existing significant shareholders, have acquired all of the Octagonal shares (8,000,000 ordinary shares) held by Newmont Asia Pacific (“Newmont”) for $1,200,000.
This transaction occurred at a price of 15 cents and represented only a 1.5 cent discount to the seven day volume weighted average price (VWAP) for Octagonal shares.
In December 2010 Newmont acquired its shareholding in Octagonal by selling to the Company its interests in four joint ventures and one exploration licence at the Hogan’s Project, located 70 kilometres southeast of Kalgoorlie in Western Australia.
As a result of this transaction Ian Gandel, the Chairman of Octagonal, has increased his equity in the Company to 19.9%.
Managing Director, Anthony Gray, commented “We are very happy with the strong demand for Octagonal shares demonstrated by this transaction and wish to thank Newmont for its participation as a major shareholder in the Company.”