ARK MINES LIMITED — Share Issue/Capital Change 2021

Dec 21, 2021

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

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Announcement Summary

Entity name

ARK MINES LIMITED

Date of this announcement

Wednesday December 22, 2021

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	Options over FPO shares exercisable @$0.20 and	14,972,500	17/12/2021
to be confirmed	expiring 17 December 2023

Refer to next page for full details of the announcement

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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

ARK MINES 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

123668717

1.3 ASX issuer code

AHK

1.4 The announcement is

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New announcement

1.5 Date of this announcement

22/12/2021

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Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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Other

Please specify

A new class of options as advised on ASX Appendix 3B lodged 25 August 2021

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

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New +securities
ASX +security code +Security description
New class - code to be confirmed Options over FPO shares exercisable @$0.20 and expiring
17 December 2023
+Security type ISIN code
Other
Date the +securities the subject of this notification were issued
17/12/2021
Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being
issued.
https://www.asx.com.au/asxpdf/20210825/pdf/44zqcr9crlwd26.pdf
Notice of Meeting - Explanatory Memorandum Note 7.
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Any other information the entity wishes to provide about the +securities the subject of this notification Free attaching options attaching to 7,486,250 FPO shares issued today on a 2 for 1 basis. The options will convert to FPO shares on exercise.

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

4,022,500 options subject to 24 months escrow from date of quotation (issued to directors following shareholder approval of resolutions 10 to 14 at the Company's GM held 24 September 2021). 10,200,000 options subject to 12 months escrow from date of issue.

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Issue details

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Number of +securities 14,972,500

Were the +securities issued for a cash consideration?

No Please describe the consideration being provided for the +securities

Free attaching options attaching to 7,486,250 FPO shares issued today on a 2 for 1 basis.

Purpose of the issue

To raise additional working capital

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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 AHK : ORDINARY FULLY PAID 2,615,998 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 New class - code to be confirmed : Options over FPO shares exercisable @$0.20 and 14,972,500 expiring 17 December 2023

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

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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

24/9/2021

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