Re: Issue of Shares to Directors

    Union Resources Limited                            

             Issue of Shares to Directors in Lieu of Fees, Salary              

Further to the announcement made on 9 December 2008 regarding the issue of
shares to directors in lieu of fees or salary, please see below an updated
statement of director's interest for the Rt. Hon. Lord Lamont of Lerwick.

Application is being made for the shares to be admitted to trading on AIM.
Admission is expected to take place on 17 December 2008.

Enquires to:

Australia: Union Resources Limited
Dr Frank Reid - Managing Director
Phone: [phone]

London: Hanson Westhouse Limited
Bill Staple or Martin Davison
0207 7601 6100

Bankside Consultants
Simon Rothschild / Louise Mason
0207 367 8888

                                                                   Rule 3.19A.2

                                  Appendix 3Y                                  

                     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   Union Resources Limited                                       
                                                                               
ABN              40 002 118 872                                                

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                Rt. Hon. Lord Lamont of Lerwick                
                                                                               
Date of last notice             29/11/07                                       

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                                 
                                                                               
Nature of indirect interest             N/A                                    
                                                                               
(including registered holder)                                                  
                                                                               
Note: Provide details of the                                                   
circumstances giving rise to the                                               
relevant interest.                                                             
                                                                               
Date of change                          09/12/08                               
                                                                               
No. of securities held prior to change  6,000,000 options                      
                                                                               
Class                                   exercisable at $0.02 per option        
                                        (subject to satisfaction of certain    
                                        vesting conditions); expiring 31/03/13 
                                                                               
Number acquired                         1,371,130 fully paid ordinary shares   
                                                                               
Number disposed                         Nil                                    
                                                                               
Value/Consideration                     Issued in lieu of director's fees;     
                                        estimated valuation: $15,082.43        
Note: If consideration is non-cash,                                            
provide details and estimated valuation                                        
                                                                               
No. of securities held after change     1. 1,371,130 shares                    
                                                                               
                                        2. 6,000,000 options                   
                                                                               
Nature of change                        Issued in lieu of director's fees      
                                                                               
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

Detail of contract                                                             
                                                                               
Nature of interest                                                             
                                                                               
Name of registered holder                                                      
                                                                               
(if issued securities)                                                         
                                                                               
Date of change                                                                 
                                                                               
No. 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                                                          



END