CAZALY RESOURCES LIMITED — Director's Dealing 2016

Nov 30, 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.

Introduced 30/9/2001.
Name of entity	Cazaly Resources Limited
ABN	23 101 049 334

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	Nathan Bruce McMahon
Date of last notice	24 August 2016

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 (2)
Nature of indirect interest	Indirect (1)
(including registered holder)	Shares owned by Kingsreef Pty Ltd (Mr McMahon has a relevant
Note: Provide details of the circumstances givingrise to the relevant interest.	interest).
	Indirect (2)
	Shares owned by Kingsreef Pty Ltd <NB & DL Family A/C> (Mr
	McMahon is a beneficiary).
	Indirect (3)
	Shares owned byApollinax Inc as trustee for Mr McMahon
Date of change	1 December 2016
No. of securities held prior to	Direct
change	4,823,756 Fully paid ordinary shares
	Indirect (1)
	4,897,299 Fully paid ordinary shares
	1,666,667 $0.04 Options expiring 5 January 2018
	Indirect (2)
	14,915,044 Fully paid ordinary shares
	1,500,000 $0.18 Options expiring 26 November 2016
	Indirect (3)
	1,000,000FullyPaidOrdinary Shares
Class	Options
Number acquired	1. 2,500,000 $0.20 Options expiring 30 November 2018
Number disposed	2. 1,500,000 $0.18 Options expiring 26 November 2016

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Value/Consideration

Nil

Note: If consideration is non-cash, provide details and estimated valuation

No. of securities held after change Direct 4,823,756 Fully paid ordinary shares

Indirect (1)

4,897,299 Fully paid ordinary shares 1,666,667 $0.04 Options expiring 5 January 2018

Indirect (2)

14,915,044 Fully paid ordinary shares 2,500,000 $0.20 Options expiring 30 November 2018

Indirect (3) 1,000,000 Fully Paid Ordinary Shares

Nature of change 1. Issue of 2,500,000 options as approved by shareholders on 24 Example: on-market trade, off-market trade, November 2016 exercise of options, issue of securities under dividend reinvestment plan, participation in buy2. Expiry of 1,500,000 options back

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 Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and a valuation Interest after change

Part 3 –[+] Closed period

art 3 –+Closed period.
Were the interests in the securities or contractsdetailed above traded during a+closed period whereprior written clearance was required?	No
If so, was prior written clearance provided to allow thetrade to proceed during this period?
If prior written clearance was provided, on what datewas this provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002