ADAVALE RESOURCES LIMITED — Director's Dealing 2023

Mar 27, 2023

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	7 November 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 SFA/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	1) 24 March 20232) 27 March 2023

• 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	5,150,000 Fully Paid Ordinary Shares1,142,780 Unlisted Options exercisable at$0.03 each expiring 22 September 20232,000,000 Unlisted Options exercisable at$0.15 each expiring 13 January 20251,500,000 Performance Rights expiring 30June 20232,200,000 Performance Rights expiring 31December 2023
Class	Fully Paid Ordinary Shares
Number acquired	1) 798,5222) 92,268
Number disposed	-
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	1) $9,1832) $1,015
No. of securities held after change	6,040,790 Fully Paid Ordinary Shares1,142,780 Unlisted Options exercisable at$0.03 each expiring 22 September 20232,000,000 Unlisted Options exercisable at$0.15 each expiring 13 January 20251,500,000 Performance Rights expiring 30June 20232,200,000 Performance Rights expiring 31December 2023
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back	On Market Trade

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.

Detail of contract	-
Nature of interest	-
Name of registered holder(if issued securities)	-

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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	-

Part 3 –[+] Closed period

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

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3