DALAROO METALS LTD — Capital/Financing Update 2023

Aug 7, 2023

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

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Announcement Summary

Entity name

DALAROO METALS LTD

Date of this announcement

Tuesday August 08, 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 New class - code OPTION EXPIRING 05-JUN-2025 11,000,000 07/08/2023 to be confirmed

Refer to next page for full details of the announcement

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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

DALAROO METALS LTD

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

1.2 Registered number type

ABN

Registration number

23648476699

1.3 ASX issuer code

DAL

1.4 The announcement is

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New announcement

1.5 Date of this announcement

8/8/2023

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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

Please refer to Appendix 3B dated 30 May 2023.

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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does not have an existing ASX security code ("new class")

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

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New +securities
ASX +security code +Security description
New class - code to be confirmed OPTION EXPIRING 05-JUN-2025
+Security type ISIN code
Options
Date the +securities the subject of this notification were issued
7/8/2023
Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes
Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under
listing rule 6.1?
Yes
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being
issued.
Terms and conditions of the options contained in Schedule 1 of the Explanatory Memorandum for the Notice of General
Meeting that was conducted on 27 July 2023 https://www.dalaroometals.com.au/_files/ugd/6e9842_4f4b0f88b39547dcbf1
caea0f06b4a42.pdf
Options Details
+Security currency Exercise price Expiry date
AUD - Australian Dollar AUD 0.08000000 5/6/2025
Details of the existing class of +security that will be issued upon exercise or conversion of this new class of
company option
Other
Description
DAL : ORDINARY FULLY PAID
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Any other information the entity wishes to provide about the +securities the subject of this notification

In the Appendix 3B lodged with the ASX on 30 May 2023 it was intended that these options would be quoted, however, in accordance with ASX Listing Rule 2.5, as there was less than 50 applicants for the Placement Shares these free attaching Placement Options are unable to be quoted. Should the number of optionholders in this class of options exceed 50 in the future then the Company will seek to have the options quoted.

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

Issue details

Number of +securities

11,000,000

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

Free attaching 1:2 option from share placement as per ASX announcement 30 May 2023.

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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
DAL : ORDINARY FULLY PAID	43,325,000
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
DALAH : PERFORMANCE RIGHTS	3,900,000
DALAD : ORDINARY FULLY PAID RESTRICTED	24,125,000
DALAE : OPTION EXPIRING 24-SEP-2024 RESTRICTED	5,000,000
DALAF : OPTION EXPIRING 24-SEP-2025 RESTRICTED	8,000,000
New class - code to be confirmed : OPTION EXPIRING 05-JUN-2025	11,000,000

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

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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? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

27/7/2023

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