ARDEA RESOURCES LIMITED — Capital/Financing Update 2017

May 8, 2017

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Timetable for Issue of Loyalty Options

ASX & Media Release

9 May 2017

The Company advises that the indicative timetable for the issue of Loyalty Options is as follows (this timetable supersedes all previous advice):

ASX Symbol

ARL

Event	Date
Lodgement of prospectusNotice to option holdersAnnounce appendix 3B, prospectus lodgedwith ASIC & ASX	16 May 2017
Ex-date	19May2017
Record Date	22 May 2017
Prospectus sent to eligible shareholders	24 May2017
Issue date	31 May 2017
Dispatch of shareholding statements	1 June2017

Ardea Resources Limited

Suite 2 / 45 Ord St West Perth WA 6005

PO Box 1433 West Perth WA 6872

Telephone

+61 8 6244 5136

Email

ardea@ardearesources.com.au

Website

All Ardea Shareholders, holding Fully Paid Ordinary Shares on the Record Date of 22 May 2017 , will receive 1 free Loyalty Option for every 3 Shares held.

www.ardearesources.com.au

Directors

Katina Law Chair

Each Loyalty Option will be exercisable at any time on or before one year from the issue date, with the exercise price of 77 cents (being a premium of 25% to the 5 day VWAP, 3 months from the date of Ardea listing on ASX on 9 February 2017).

Matt Painter Managing Director

Ian Buchhorn Non-Executive Director

The Options will be transferrable, but will not be listed on ASX. Upon exercise the Options will rank equally in respect of all Fully Paid Ordinary Shares.

Issued Capital

Shares 67,000,747

For further information regarding Ardea, please visit

Unlisted options 12,310,022

www.ardearesources.com.au:

www.ardearesources.com.au:
Ardea Resources:	Media or Investor Inquiries:
Dr Matt Painter	Jon Snowball
Managing Director, Ardea	FTI Consulting
Tel +61 8 6500 9200	Tel +61 2 8298 6100 or +61 477 946 068
ardea@ardearesources.com.au	jon.snowball@fticonsulting.com

ABN 30 614 289 342