CARAVEL MINERALS LIMITED — Director's Dealing 2016

Jan 21, 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 30/9/2001.

Name of entity	Caravel Minerals Limited
ABN	120 069 089

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	Marcel Hilmer
Date of last notice	30/11/2015

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:Providedetailsofthecircumstances giving rise to the relevantinterest.	Celeste Leonie Hilmer (Wife)Caravel Employee Share Plan Pty Ltd (Trustee for the CaravelMinerals Limited Employee Share Acquisition Plan Trust holdingshares on trust for Marcel Hilmer in accordance with the terms andconditions of the Caravel Minerals Limited Employee ShareAcquisition Plan )Marcel Erris Hilmer and Celeste Leonie Hilmer (Trustee for M&CHilmer Superannuation Fund)
Date of change	19/01/2015
No. of securities held prior to change	Celeste Leonie Hilmer221,882 Ordinary Shares151,516Listed Options @ $0.77 expiring 31 May 2016Caravel Employee Share Plan Pty Ltd (Trustee for the CaravelMinerals Limited Employee Share Acquisition Plan Trust)1,068,182 Ordinary SharesMarcel Erris Hilmer and Celeste Leonie Hilmer (Trustee forM&C Hilmer Superannuation Fund)813,045 Ordinary Shares454,546 Listed Options @ $0.77 expiring 31 May 201687,414 Unlisted Options @ $0.44 expiring 16 October 2016129,870 Unlisted Options @ $0.286 expiring 31 January 2017

• See chapter 19 for defined terms.

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Class	Ordinary Shares
Number acquired	6,000
Number disposed	-
Value/Consideration includesbrokerage/gstNote: If consideration is non-cash,provide details and estimated valuation	$539.90
No. of securities held after change	Celeste Leonie Hilmer221,882 Ordinary Shares151,516Listed Options @ $0.77 expiring 31 May 2016Caravel Employee Share Plan Pty Ltd (Trustee for the CaravelMinerals Limited Employee Share Acquisition Plan Trust)1,068,182 Ordinary SharesMarcel Erris Hilmer and Celeste Leonie Hilmer (Trustee forM&C Hilmer Superannuation Fund)819,045 Ordinary Shares454,546 Listed Options @ $0.77 expiring 31 May 201687,414 Unlisted Options @ $0.44 expiring 16 October 2016129,870 Unlisted Options @ $0.286 expiring 31 January 2017
Nature of changeExample: on-market trade, off-markettrade, exercise of options, issue ofsecurities under dividend reinvestmentplan, participation in buy-back	On Market Transactions

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	N/A
Nature of interest	N/A
Name of registered holder(if issued securities)	N/A
Date of change	N/A
No. and class of securities to which irelated prior to changeNote: Details are only required for a conrelation to which the interest has changed	ntN/A
Interest acquired	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

Appendix 3Y Change of Director’s Interest Notice

Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash,providedetailsandanestimatedvaluation	N/A
Interest after change	N/A

Part 3 Closed Period

Were the interests in the securities orcontracts detailed above traded during a+closed period where prior writtenclearance was required?	No
If so, was prior written clearanceprovided to allow the trade to proceedduringthisperiod?	N/A
If prior written clearance was provided,on what date was this provided?	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 3