ARDEA RESOURCES LIMITED — Major Shareholding Notification 2018

May 1, 2018

604 Page 1 of 3 15 July 2001

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme

ACN/ARSN

Ardea Resources Limited

614 289 342

1. Details of substantial holder (1)

Name

B O'Shannassy and Associates

ACN/ARSN (if applicable)

There was a change in the interests of the substantial holder on

substantial holder on 30 / 04 / 2018 The previous notice was given to the company on 11 / 10 / 2017 The previous notice was dated 11 / 10 / 2017

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

ompany or scheme, are as follows:
Class of securities (4)	Previous notice		Present notice
	Person’s votes	Voting power(5)	Person’s votes	Voting power(5)
Fully Paid OrdinaryShares	6,758,025	8.38%	8,926,335	9.33%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

s follows:
Date ofchange	Person whoserelevant interestchanged	Nature of change (6)	Consideration given inrelation to change (7)	Class and numberof securitiesaffected	Person's votesaffected
30/4/2018	B&JManagementPL <Josco PLSF No1>	Exercise ofLoyaltyOptions	$89,149	115,778Fully PaidOrdinary	O'Shannassy
9/11/2017- 5/3/18	B&JManagementPL <Josco PLSF No1>	Onmarkettrades	$361,660	239,301Fully PaidOrdinary	O'Shannassy
30/4/201823/1/018-122/2018	Josco PtyLtd(O'ShannassyFamily Acct)	Exercise ofLoyalty OptionOnmarkettrades	$1,283,331$217,348	1,666,664Fully PaidOrdinary146,567Fully PaidOrdinaryShares	O'Shannassy

604 Page 3 of 3 15 July 2001

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• (7) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

• (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".

• (9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.