CARNAVALE RESOURCES LIMITED — Share Issue/Capital Change 2023

Sep 17, 2023

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

Monday September 18, 2023

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
CAVAD	OPTION EXPIRING 31-MAR-2025 EX $0.008	72,500,000	15/09/2023

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

18/9/2023

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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:

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Other

Please specify

Issue of unlisted options to directors, CEO, company secretary and a consultant to the Company.

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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has an existing ASX security code ("existing class")

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

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Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to ASX in an Appendix 3B

Additional +securities in an existing class

ASX +security code and description

CAVAD : OPTION EXPIRING 31-MAR-2025 EX $0.008

Date the +securities the subject of this notification were issued

15/9/2023

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class

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Yes

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

45 million unlisted options are being issued to the directors in accordance with the Notice of Meeting dated 14 August 2023, as approved by shareholders at the General Meeting held on 15 September 2023.A further 27.5 million unlisted options were also issued to the CEO, company secretary and a consultant to the Company.

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

N/A.

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

Issue details

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Number of +securities

72,500,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Nil.

Purpose of the issue

Other

Additional Details

Issue of incentive options

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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	3,333,551,728

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
CAVAC : OPTION EXPIRING 31-JUL-2025 EX $0.007	67,500,000
CAVAB : OPTION EXPIRING 30-NOV-2023 EX $0.012	70,000,000
CAVAD : OPTION EXPIRING 31-MAR-2025 EX $0.008	87,500,000

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

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

72500000

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

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