AUDALIA RESOURCES LIMITED — Director's Dealing 2016

Mar 29, 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	Audalia Resources Limited
ABN	49 146 035 690

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 Date of last notice

Mr Brent Butler 29 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	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Registered holder: Megan Holdings Pty Ltd **Investment A/C>. Mr Butler is a director and shareholder of the company which is the trustee of the trust.
Date of change	30 March 2016.
No. of securities held prior to change	Indirect interest 2,500,000 fully paid ordinary shares (“Shares”)
Class	Shares.
Number acquired	2,000,000 Shares.
Number disposed	Not applicable.
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil.

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change

Indirect interest 4,500,000 Shares.

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Issue of shares pursuant to a consultancy agreement between the Company and the CEO dated 14 April 2015 following the successful completion of a milestone. Approval for the issue of shares was received from shareholders at the AGM held on 27 November 2015. ASX granted a waiver from listing rule 14.7 on 3 December 2015 to permit the Company to issue the Shares later than one month after the date of the AGM.

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	Consultant Agreement between Mr Butler and Audalia Resources.
Nature of interest	The Company will, subject to achieving the agreed milestones and subject to the requirements of the Listing Rules of the ASX, grant up to 4,000,000 fully paid ordinary shares to or for the benefit of Mr Butler as a long term incentive.
Name of registered holder (if issued securities)	Mr Butler (or his nominee).
Date of change	30 March 2016.
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	Up to 2,000,000 fully paid ordinary shares.
Interest acquired	Not applicable

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Interest disposed	Not applicable
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	Nil
Interest after change	Nil. Refer to Part 1 of this notice for details of 2,000,000 fully paid ordinary shares issued under the contract following the successful completion of a milestone and pursuant to shareholder approval granted at AGM and ASX waiver granted on 3 December 2015.

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	Not Applicable
If prior written clearance was provided, on what date was this provided?	Not Applicable

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3