AUSTRALIAN VANADIUM LIMITED — Director's Dealing 2017

Nov 30, 2017

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	Brenton James Lewis
Date of last notice	12 July 2017

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
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	-
Date of change	27 November 2017 and 1 December 2017
No. of securities held prior to change	8,778,600 fully paid ordinary shares1,444,650 listed options (31/12/2018; $0.02)1,250,000unlistedoptions(31/12/2017;$0.014712)
Class	Fully paid ordinary sharesListed optionsUnlisted options
Number acquired	1,250,000 fully paid ordinary shares
Number disposed	1,444,650 listed options1,250,000 unlisted options
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Fully paid ordinary shares - $18,390Listed options - $8,580Unlisted options - 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	10,028,600 fully paid ordinary shares
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back	Fully paid ordinary shares on exercise of theunlisted options.Listed options–On-market trade

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	A.Each Performance Right converts to one ordinaryfully paid share, subject to satisfaction of specifiedperformance criteria as approved by shareholderson 20 November 2015. The Performance Rightsexpire on 2 February 2020.B.Each Performance Right (PR) converts to oneordinary fully paid share, subject to satisfaction ofspecified performance criteria as approved byshareholders on 12 June 2017. The PerformanceRights have an expiry date of:19 December 2019 – 4,000,000 PRs19 December 2020 – 4,000,000 PRs19 December 2021 – 4,000,000 PRs
Nature of interest	Unlisted Performance Rights
Name of registered holder(if issued securities)	Brenton James Lewis
Date of change	N/A
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	A.2,000,000B.12,000,000
Interest acquired	-
Interest disposed	-
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation	-
Interest after change	A.2,000,000B.12,000,000

• 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.

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