CARNAVALE RESOURCES LIMITED — Share Issue/Capital Change 2022

Feb 15, 2022

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

CARNAVALE RESOURCES LIMITED

Date of this announcement

Wednesday February 16, 2022

The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
CAVAO	OPTION EXPIRING 31-JUL-2023 EX $0.016	101,818,180	16/02/2022

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

CARNAVALE RESOURCES LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ACN

Registration number

119450243

1.3 ASX issuer code

CAV

1.4 The announcement is

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New announcement

1.5 Date of this announcement

16/2/2022

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Previous Appendix 3B details:

Announcement Date and Announcement Title Selected Appendix 3B to submit quotation Time request 10-Feb-2022 09:43 New - Proposed issue of securities - A placement or other type of issue CAV

2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B?

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Yes

2.3a.3 Please provide details of the further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B

A further Placement (Director Placement) comprising 36,363,636 fully paid ordinary shares at $0.011 per share and 18,181,818 free attaching options (exercise price 1.6 cents, expiring 31 July 2023) to Directors of the Company and their related parties, will be subject to shareholder approval pursuant to Listing Rule 10.

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 3A - number and type of +securities the subject of this notification (existing class or new class) where issue has previously been notified to ASX in an Appendix 3B

Placement Details

ASX +security code and description CAVAO : OPTION EXPIRING 31-JUL-2023 EX $0.016 Date the +securities the subject of this notification were issued 16/2/2022

Any other information the entity wishes to provide about the +securities the subject of this notification

Issue details

Number of +securities 101,818,180 Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities

The Options were issued free on a 1 for 2 basis as part of the Placement.

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
CAV : ORDINARY FULLY PAID	2,478,551,732
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
CAVAA : OPTION EXPIRING 30-NOV-2022 EX $0.012	7,000,000
CAVAB : OPTION EXPIRING 30-NOV-2023 EX $0.012	70,000,000
CAVAM : OPTION EXPIRING 31-JUL-2022 EX 1C	165,678,571
CAVAN : OPTION EXPIRING 31-JUL-2022 EX 1.5C	15,000,000
CAVAO : OPTION EXPIRING 31-JUL-2023 EX $0.016	130,818,180

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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