ADAVALE RESOURCES LIMITED — Director's Dealing 2022

May 22, 2022

Appendix 3Y Change of Director’s Interest Notice

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 30/09/01 Amended 01/01/11

Name of entity Adavale Resources Limited ABN 96 008 719 015

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	David Noel Riekie
Date of last notice	14 January 2022

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) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct & Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Wilhaja Pty Ltd as Trustee for Riekie FamilyA/C(a company which Mr Riekie is a director andbeneficiary)Riekie Superannuation Pty Ltd <Riekie FamilyA/C>(a fund which Mr Riekie is a beneficiary)Equity Plan Services Pty Ltd(a trust which Mr Riekie is a beneficiary)
Date of change	20 May 2022

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	1,274,540 Fully Paid Ordinary Shares
	2,000,000 Unlisted Options exercisable at
	$0.15 each expiring 13 January 2025
	1,500,000 Performance Rights expiring 30
	June 2023
	2,200,000 Performance Rights expiring 31
	December 2023
Class	Fully Paid Ordinary Shares
Number acquired	325,460
Number disposed	-
Value/Consideration	$10,184
Note: If consideration is non-cash, provide details and estimated
valuation
No. of securities held after change	1,600,000 Fully Paid Ordinary Shares
	2,000,000 Unlisted Options exercisable at
	$0.15 each expiring 13 January 2025
	1,500,000 Performance Rights expiring 30
	June 2023
	2,200,000 Performance Rights expiring 31
	December 2023
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) of the definition of “notifiable interest of a director” should be disclosed in this part.

be disclosed in thispart.
Detail of contract	-
Nature of interest	-
Name of registered holder(if issued securities)	-
Date of change	-
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed	-

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Interest acquired	-
Interest disposed	-
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation	-
Interest after change	-

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	No
If so, was prior written clearance provided to allow the tradeto proceed during this period?	-
If prior written clearance was provided, on what date was thisprovided?	-

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3