AUSTRALIAN VANADIUM LIMITED — Director's Dealing 2016

Apr 28, 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	Australian Vanadium Ltd
ABN	90 116 221 740

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	Brian Davis
Date of last notice	21 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	Direct and indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Geologica Pty Ltd(Director/Shareholder)
Date of change	15 April 2016
No. of securities held prior to change	Geologica Pty Ltd- 1,000,000 fully paid ordinary shares- 1,000,000 unlisted options (31/12/2017;$0.0015)Brian Davis1,000,000 fully paid ordinary shares
Class	Ordinary sharesListed options (31/12/2018; $0.02)
Number acquired	666,668 ordinary shares666,668 listed options
Number disposed	-
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$8,667

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	Geologica Pty Ltd- 1,333,334 fully paid ordinary shares- 333,334 listed options (31/12/2018; $0.02)- 1,000,000 unlisted options (31/12/2017;$0.0014712)Brian Davis- 1,333,334 fully paid ordinary shares- 333,334 listed options (31/12/2018; $0.02)
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back	Participation in entitlement issue

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	Each Performance Right converts to one ordinary fullypaidshare,subjecttosatisfactionofspecifiedperformance criteria as approved by shareholders on 20November 2015. The Performance Rights expire on 2February 2020.
Nature of interest	Unlisted Performance Rights
Name of registered holder(if issued securities)	-
Date of change	-
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed	6,000,000
Interest acquired	-
Interest disposed	-
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation	-
Interest after change	6,000,000

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	No
If so, was prior written clearance provided to allow the tradeto proceed during this period?	N/A
If prior written clearance was provided, on what date was thisprovided?	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3