EASTERN RESOURCES LIMITED — Share Issue/Capital Change 2022

Jan 23, 2022

Application for quotation of +securities

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Announcement Summary

Entity name

EASTERN RESOURCES LIMITED

Announcement Type

New announcement

Date of this announcement

Monday January 24, 2022

The +securities to be quoted are:

+Securities issued under an +employee incentive scheme that are not subject to a restriction on transfer or that are to be quoted notwithstanding there is a restriction on transfer

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
EFE	ORDINARY FULLY PAID	21,000,000	24/01/2022

Refer to next page for full details of the announcement

Application for quotation of +securities

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Application for quotation of +securities

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Part 1 - Entity and announcement details

1.1 Name of entity

EASTERN RESOURCES LIMITED

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type

ABN

Registration number 70126678037

1.3 ASX issuer code

EFE

1.4 The announcement is

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New announcement

1.5 Date of this announcement

24/1/2022

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Application for quotation of +securities

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Part 2 - Type of Issue

2.1 The +securities to be quoted are:

+Securities issued under an +employee incentive scheme that are not subject to a restriction on transfer or that are to be quoted notwithstanding there is a restriction on transfer

2.2 The +securities to be quoted are:

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Additional +securities in a class that is already quoted on ASX ("existing class")

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Application for quotation of +securities

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Part 3B - number and type of +securities to be quoted (existing class) where issue has not previously been notified to ASX in an

Appendix 3B

Additional +securities to be quoted in an existing class issued under an +employee incentive scheme

FROM (Existing Class) ASX +security code and description EFEAW : PERFORMANCE RIGHTS

TO (Existing Class) ASX +security code and description EFE : ORDINARY FULLY PAID

Please state the number of +securities issued under the +employee incentive scheme that are not subject to a restriction on transfer or that are to be quoted notwithstanding there is a restriction on transfer 21,000,000

Please provide details of a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

https://www.asx.com.au/asxpdf/20211105/pdf/452n1586v1gbnj.pdf Schedule 5.

Are any of these +securities being issued to +key management personnel (KMP) or an +associate Yes

Provide details of the KMP or +associates being issued +securities

Name of KMP	Name of registered holder	Number of +securities
Ariel Edward King	King Corporate Pty Ltd	4,200,000
Ariel Edward King	La Paz Resources Pty Ltd	2,100,000
Myles Rui Fang	Fundmax Pty Ltd	7,000,000
Jason Hou	Next Street Pty Ltd ATF JISM Family Trust	7,000,000

Issue date

24/1/2022

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Application for quotation of +securities

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Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Issue details

Number of +securities to be quoted

21,000,000

Are the +securities being issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Management services in connection with the acquisition of new exploration projects, the development of existing exploration projects, the development of strategic partnerships and capital raising.

Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted

0.073000

Any other information the entity wishes to provide about the +securities to be quoted

Securities issued following vesting and conversion of Performance Rights issued pursuant to shareholder approval at the Company's Annual General Meeting held on 7 December 2021.

Application for quotation of +securities

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Application for quotation of +securities

Part 4 - Issued capital following quotation

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Following the quotation of the +securities the subject of this application, the issued capital 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 on ASX following the +quotation of the +securities subject of this application)

	Total number of
ASX +security code and description	+securities on issue
EFE : ORDINARY FULLY PAID	968,297,582
EFEOA : OPTION EXPIRING 31-JAN-2023	155,624,025

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
EFEAX : OPTION EXPIRING 23-DEC-2023 EX $0.08	1,500,000
EFEAU : OPTION EXPIRING 12-MAY-2023 EX $0.0142	16,000,000
EFEAW : PERFORMANCE RIGHTS	3,500,000
EFEAV : OPTION EXPIRING 30-SEP-2023 EX $0.04	22,750,000

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Application for quotation of +securities

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Part 5 - Other Listing Rule requirements

5.1 Are the +securities being issued under an exception in Listing Rule 7.2 and therefore the issue does not need any security holder approval under Listing Rule 7.1? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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Application for quotation of +securities

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