AFRICAN GOLD LTD. — Director's Dealing 2021

Jan 11, 2021

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	African Gold Ltd
ACN	624 164 852

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	Tolga Kumova
Date of last notice	7 January 2021

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	Indirect interest
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Kitara Investments Pty Ltd
Date of change	12 January 2021
No. of securities held prior to change
Kitara Investments Pty Ltd	175,000 ordinary shares
Kitara Investments Pty Ltd <Kumova FamilyAccount>	6,416,667 ordinary shares and 10,000,000options exercisable at $0.20 and expiring 17 April2023
Gondwana Investments Group Pty Ltd	58,334 ordinary shares
Class	Ordinary shares
Number acquired	648,192
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$0.10 per share

• 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 after change
Kitara Investments Pty Ltd	823,192 ordinary shares
Kitara Investments Pty Ltd <Kumova FamilyAccount>	6,416,667 ordinary shares and 10,000,000options exercisable at $0.20 and expiring 17 April2023
Gondwana Investments Group Pty Ltd	58,334 ordinary shares
Nature of changeExample: on-market trade, off-market trade, exercise of options, issueof securities under dividend reinvestment plan, participation in buy-back	Shortfall shares issued pursuant to underwritingagreement for rights issue as announced on 27November 2020

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	N/A
Nature of interest
Name of registered holder(if issued securities)
Date of change
No. and class of securities to which interest related priorto changeNote: Details are only required for a contract in relation to which the interest haschanged
Interest acquired
Interest disposed
Value/ConsiderationNote: 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 detailedabove traded during a+closed period where prior writtenclearance was required?	No
If so, was prior written clearance provided to allow thetrade to proceed during this period?	N/A
If prior written clearance was provided, on what date wasthis provided?	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011