AIC MINES LIMITED — Director's Dealing 2021

Nov 1, 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 AIC MINES LIMITED ABN 11 060 156 452

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.

We (the entity) give ASX the followingthe director for the purposes of section	information under listing rule 3.19A.2 and as agent for205G of the Corporations Act.
Name of Director	Aaron Colleran
Date of last notice	27 April 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	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	29 October 2021

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	3,000,000 fully paid ordinary shares
	2,000,000 Incentives (Tranche 1) will vest, converting
	to Fully Paid Ordinary Shares, at any time up to 11
	February 2021 when the 60 day VWAP of the
	Company’s share price is $0.30 or more (vested 3
	August 2019); and
	2,000,000 Incentives (Tranche 2) will vest, converting
	to Fully Paid Ordinary Shares, at any time up to 11
	February 2022 when the 60 day VWAP of the
	Company’s share price is $0.40 or more (vested 26
	August 2019); and
	2,000,000 Incentives (Tranche 3) will vest, converting
	to Fully Paid Ordinary Shares, at any time up to 11
	February 2023 when the 60 day VWAP of the
	Company’s share price is $0.60 or more.
	500,000 Incentives (December 2020) will vest,
	converting to Fully Paid Ordinary Shares, at any time
	up to 1 December 2023 when the 60 day VWAP of the
	Company’s share price is $0.60 or more.
Class	Fully Paid Ordinary Shares
Number acquired	5,000,000
Number disposed	N/A
Value/Consideration	5,000,000 @ $0.25 per share
Note: If consideration is non-cash, provide details and estimated
valuation

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change

8,000,000 fully paid ordinary shares2,000,000 Incentives (Tranche 1) will vest, convertingto Fully Paid Ordinary Shares, at any time up to 11February 2021 when the 60 day VWAP of theCompany’s share price is $0.30 or more (vested 3August 2019); and2,000,000 Incentives (Tranche 2) will vest, convertingto Fully Paid Ordinary Shares, at any time up to 11February 2022 when the 60 day VWAP of theCompany’s share price is $0.40 or more (vested 26August 2019); and2,000,000 Incentives (Tranche 3) will vest, convertingto Fully Paid Ordinary Shares, at any time up to 11February 2023 when the 60 day VWAP of theCompany’s share price is $0.60 or more.500,000 Incentives (December 2020) will vest,converting to Fully Paid Ordinary Shares, at any timeup to 1 December 2023 when the 60 day VWAP of theCompany’s share price is $0.60 or more.

Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back

Participation in Public Offer following shareholderapproval at General Meeting

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

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.

==> picture [434 x 314] intentionally omitted <==

----- Start of picture text ----- Detail of contractNature of interestName of registered holder(if issued securities)Date of changeNo. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changedInterest acquiredInterest disposedValue/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuationInterest after change----- End of picture text -----

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?	N/A
If prior written clearance was provided, on what date was thisprovided?	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 4

01/01/2011