DIATREME RESOURCES LIMITED — Capital/Financing Update 2019

Dec 10, 2019

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ASX ANNOUNCEMENT

11 D ecember 2 019

EXPIRY OF LISTED OPTIONS

Diatreme Resources Limi t ed (ASX: D RX) (“ Company ”) no t ifies the h o lders of th e Company's 60,847,327 listed options ( DRXOB) ( e xercisabl e at $0.03) that the o p tions will e xpire effe c tive 5.00 p m (Brisbane tim e ) on 16 D e cember 2 0 19 (“ Expiry Date ”). A s the exe r cise price of the opti o ns is abo v e the mar k et pric e and the li k elihood of holders ex e rcising th e options is remote option expiry n otices will not be mailed to h o lders.

In accordance with parag r aph 5.3 o f Appendix 6A of the A SX Listin g Rules, th e Compan y provides t he following infor m ation:

• T he number of option s to which t h is notice a p plies is 60,847,327;

• • E ach optio n exercised entitles th e holder to r eceive on e fully paid o rdinary sh a re in the C ompany. If all o ptions we r e exercise d , 60,847,3 2 7 fully pai d ordinary s hares would be issue d ;

• • T he exerci s e price of e ach option is $0.03; • T he due date for pay m ent of the e xercise pri c e is 5.00 p m (Brisbane time) on 16 Decem b er 2019; • I f payment i s not recei v ed before the Expiry D ate, the options will e xpire une x ercised an d all rights w ill c ease;

• • O fficial qu o tation of t h e options c eased on 10 Decem b er 2019 b e ing four business days before t he E xpiry Dat e ;

• • D uring the last three months p r eceding t h e date of this notice, the high e st market price of f u lly o rdinary shares in the Company was $0.01 3 on 16 S e ptember 2019 and the lowest m arket price is $ 0.009 on 1 October 2019. The closing pric e on 10 December 201 9 was $0.0 1 0; and

• • N o underw r iting agree m ent exist s in respect of these o p tions.

Tuan Do Co m pany Secr e tary

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