AUSTRALIAN VANADIUM LIMITED — Director's Dealing 2016

May 2, 2016

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial 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 30/9/2001.

Name of entity Australian Vanadium Limited ABN 90 116 221 740

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Vincent James Algar
Date of appointment	29 April 2016

Part 1 - Director’s relevant interests in securities of which the director is the registered holder

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.

Number & class of securities

Nil

• See chapter 19 for defined terms.

Appendix 3X Page 1

11/3/2002

Appendix 3X Initial Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature of Number & class of Securities interest Note: Provide details of the circumstances giving rise to the relevant interest. Vincent James Algar & Isobel Vera 571,129 fully paid ordinary shares Legh Algar 192,307 listed options (31/12/2018; $0.02)

Part 3 – 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	Each Performance Right converts to one ordinaryfully paid share, subject to satisfaction ofspecified performance criteria as approved byshareholders on 20 November 2015. ThePerformance Rights expire on 2 February2020.
Nature of interest	Unlisted Performance Rights
Name of registered holder(if issued securities)	Vincent James Algar
No. and class of securities towhich interest relates	10,000,000 unlisted performance rights

• See chapter 19 for defined terms.

Appendix 3X Page 2

11/3/2002