ANDEAN SILVER LIMITED — Share Issue/Capital Change 2023

Feb 1, 2023

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

MITRE MINING CORPORATION LIMITED

Date of this announcement

Thursday February 02, 2023

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	Unlisted options - exercisable at 20 cents on or	2,250,000	02/02/2023
to be confirmed	before 2 February 2026
New class - code	Unlisted options - exercisable at 40 cents on or	2,250,000	02/02/2023
to be confirmed	before 2 February 2026

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

MITRE MINING CORPORATION LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ACN

Registration number

645578454

1.3 ASX issuer code

MMC

1.4 The announcement is

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New announcement

1.5 Date of this announcement

2/2/2023

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

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Other

Please specify

Issue of 4,500,000 unlisted options. Refer to announcement dated 23 Nov 2022 for further info.

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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does not have an existing ASX security code ("new class")

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

New +securities
ASX +security code New class - code to be confirmed	+Security description Unlisted options - exercisable at 20 cents on or before 2 February 2026
+Security type	ISIN code
Options
Date the +securities the subject of this notification were issued
2/2/2023
Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under
listing rule 6.1?
No
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being
issued. Refer Schedule 1: chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/ https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-researc
h/1.0/file/2924-02616611-6A1130079?access_token=83ff96335c2d45a094df02a206a39ff4
Options Details
+Security currency Exercise price Expiry date
AUD - Australian Dollar AUD 0.20000000 2/2/2026
Details of the existing class of +security that will be issued upon exercise or conversion of this new class of
company option
Other
Description

One unlisted option with convert to one fully paid ordinary share (MMC) upon exercise.

Any other information the entity wishes to provide about the +securities the subject of this notification

Please provide any further information needed to understand the circumstances in which you are notifying the

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Issue of 4,500,000 unlisted options. Refer to ASX announcement dated 23 November 2022 for further information.

Issue details

Number of +securities

2,250,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Issue of 4,500,000 unlisted options. Refer to ASX announcement dated 23 November 2022 and Notice of Meeting lodged 23 December 2023 for further information.

Purpose of the issue

Other

Additional Details

Refer to announcement dated 23 Nov 2022 and Notice of Meeting lodged 23 Dec 2023 for further info.

New +securities

ASX +security code +Security description New class - code to be confirmed Unlisted options - exercisable at 40 cents on or before 2 February 2026 +Security type ISIN code Options Date the +securities the subject of this notification were issued 2/2/2023

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Refer Schedule 1: chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-researc h/1.0/file/2924-02616611-6A1130079?

Options Details

+Security currency AUD - Australian Dollar

Exercise price Expiry date AUD 0.40000000 2/2/2026

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

Description

One unlisted option with convert to one fully paid ordinary share (MMC) upon exercise.

Any other information the entity wishes to provide about the +securities the subject of this notification

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Issue of 4,500,000 unlisted options. Refer to ASX announcement dated 23 November 2022 for further information.

Issue details

Number of +securities

2,250,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Issue of 4,500,000 unlisted options. Refer to ASX announcement dated 23 November 2022 and Notice of Meeting lodged 23 December 2023 for further information.

Purpose of the issue

Other

Additional Details

Refer to announcement dated 23 Nov 2022 and Notice of Meeting lodged 23 Dec 2023 for further info.

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
MMC : ORDINARY FULLY PAID	27,085,100

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
MMCAA : ORDINARY FULLY PAID RESTRICTED	7,115,000
MMCAB : OPTION EXPIRING 16-DEC-2025 EX $0.20	750,000
MMCAC : OPTION EXPIRING 16-DEC-2025 EX $0.40	750,000
New class - code to be confirmed : Unlisted options - exercisable at 20 cents on or before 2	2,250,000
February 2026
New class - code to be confirmed : Unlisted options - exercisable at 40 cents on or before 2	2,250,000
February 2026

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

30/1/2023

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