ANDROMEDA METALS LIMITED — Director's Dealing 2016

Jan 3, 2016

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 ADELAIDE RESOURCES LIMITED ABN 75 061 503 375

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	Christopher George Drown
Date of last notice	30 December 2015

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(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest.		1. Drown Geological Services Pty Ltd2. Mr Chris Drown and Mrs LynetteDrown (C&L Drown Family A/C)3. ADN LFESP Pty Ltd (as trustee of theAdelaide Resources Limited LoanFunded Employee Share Plan)
Date of change		4 January 2016
No. of securities held prior to change		Direct421,695 shares70,283 options750,000 performance rightsIndirect1. 162,000sharesand27,000options2. 3,927,542 shares and 529,590options3. 4,500,000 shares
Class		Performance rights

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number acquired	-
Number disposed	750,000
Value/Consideration	Nil
Note: If consideration is non-cash, provide details and estimated
valuation
No. of securities held after change	Direct
		421,695 shares
		70,283 options
	Indirect
	1.	162,000	shares	and	27,000
		options
	2.	3,927,542 shares		and	529,590
		options
	3.	4,500,000 shares
Nature of change	Lapse	of performance rights
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.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder	N/A
(if issued securities)
Date of change	N/A
No. and class of securities to	N/A
which interest related prior to
change
Note: Details are only required for a contract in
relation to which the interest has changed
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration	N/A
Note: If consideration is non-cash, provide details
and an estimated valuation

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Interest after change N/A

Part 3 –[+] Closed period

Were the interests in the securities or contracts No detailed above traded during a[+] closed period where prior written clearance was required? If so, was prior written clearance provided to allow N/A the trade to proceed during this period? If prior written clearance was provided, on what N/A date was this provided?

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3