GBM RESOURCES LIMITED. — Capital/Financing Update 2022

Dec 1, 2022

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

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Announcement Summary

Entity name

GBM RESOURCES LIMITED

Date of this announcement

Friday December 02, 2022

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 Unlisted options exercisable at $0.069 and 8,000,000 02/12/2022 to be confirmed expiring 1 December 2026

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

GBM 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

ABN

Registration number

91124752745

1.3 ASX issuer code

GBZ

1.4 The announcement is

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New announcement

1.5 Date of this announcement

2/12/2022

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Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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Other

Please specify

Unlisted options exercisable at $0.069 and expiring 1 December 2026

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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----- Start of picture text ----- New +securitiesASX +security code +Security descriptionNew class - code to be confirmed Unlisted options exercisable at $0.069 and expiring 1December 2026+Security type ISIN codeOptionsDate the +securities the subject of this notification were issued2/12/2022Will all the +securities issued in this class rank equally in all respects from their issue date?YesHave you received confirmation from ASX that the terms of the +securities are appropriate and equitable underlisting rule 6.1?NoPlease provide a URL link for a document lodged with ASX setting out the material terms of the +securities beingissued.Refer notice of annual general meeting lodged with ASX on 28 October 2022:https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02590391-6A1118877?access_token=83ff96335c2d45a094df02a206a39ff4Options Details+Security currency Exercise price Expiry dateAUD - Australian Dollar AUD 0.06900000 1/12/2026Details of the existing class of +security that will be issued upon exercise or conversion of this new class ofcompany optionOtherDescriptionOrdinary fully paid share (GBZ)----- End of picture text -----

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

None

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

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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

Options issued pursuant to shareholder approval at the Company's 2022 annual general meeting

Issue details

Number of +securities

8,000,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Nil consideration

Purpose of the issue

Other

Additional Details

Issued as incentive based remuneration pursuant to shareholder approval

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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
GBZ : ORDINARY FULLY PAID	560,713,885
GBZOB : OPTION EXPIRING 06-JUL-2023	50,567,301
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
GBZAA : OPTION EXPIRING 31-JAN-2023 EX $0.076	1,880,000
GBZAI : PERFORMANCE RIGHTS EXPIRING 31-OCT-2025	1,185,000
GBZAJ : OPTION EXPIRING 31-OCT-2025 EX $0.18	855,000
GBZAD : OPTION EXPIRING 06-APR-2023 EX $0.096	16,074,152
GBZAF : OPTION EXPIRING 14-SEP-2024 EX 21C	300,000
GBZAM : CONVERTIBLE NOTES	1
GBZAG : OPTION EXPIRING 11-FEB-2025 EX $0.18	3,900,000
GBZAK : OPTION EXPIRING 30-NOV-2022 EX $0.075	38,790,399
GBZAH : PERFORMANCE RIGHTS EXPIRING 26-AUG-2025	378,262
New class - code to be confirmed : Unlisted options exercisable at $0.069 and expiring 1	8,000,000
December 2026

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? Yes

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

14

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