GOLDARC RESOURCES LIMITED — Director's Dealing 2022

Nov 14, 2022

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial 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.

Name of entity ASRA MINERALS LIMITED ABN 72 002 261 565

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Robin Longley
Date of appointment	14 November 2022

Part 1 - Director’s relevant interests in securities of which the director is the registered holder

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.

Number & class of securities

NIL

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature of Number & class of Securities interest Note: Provide details of the circumstances giving rise to the relevant interest.

NIL

• See chapter 19 for defined terms.

11/3/2002

Appendix 3X Page 1

Appendix 3X Initial Director’s Interest Notice

Part 3 – 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	Managing Director
Nature of interest	Direct and Indirect
Name of registered holder(if issued securities)	Robin Longley or his nominee

• See chapter 19 for defined terms.

Appendix 3X Page 2

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Appendix 3X Initial Director’s Interest Notice

	No. and class of securities to whichinterest relates	Subject to shareholders approval, Mr Longley will beissued 15,000,000 Performance Rights as per thevesting conditions below under the Company’sEmployee Share Plan:Class A:1,000,000 Performance Rights - vestupon the Company achieving andmaintaining a VWAP share price equalof $0.04 or more for a continuousperiod of 20 trading days and 6 monthsof continuous employment.Class B:1,000,000 Performance Rights – vestupon the Company achieving a maidenMineral Resource Estimates for theCompany’s REE project of at least10Mt at 500ppm TREYO/Sc/Co and 6months of continuous employment.Class C:1,000,000 Performance Rights – vestupon the Company achieving a MineralResource Estimates for the Company’sGold project of at least 200,000 Au ozand6monthsofcontinuousemployment.Class D:1,000,000 Performance Rights - vestupon the Company achieving andmaintaining a VWAP share price equalof $0.06 or more for a continuousperiod of 20 trading days and 12months of continuous employment.Class E:1,000,000 Performance Rights - vestupontheCompanyannounceapositivescopingstudyattheCompany’s REE project and 12 monthsof continuous employment.Class F:2,000,000 Performance Rights – vestupon the Company achieving a MineralResource Estimates for the Company’sGold project of at least 300,000 Au ozand18monthsofcontinuousemployment.Class G:2,000,000 Performance Rights - vestupon the Company achieving andmaintaining a VWAP share price equalof $0.08 or more for a continuousperiod of 20 trading days and 18months of continuous employment.

• See chapter 19 for defined terms.

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Appendix 3X Page 3

Appendix 3X Initial Director’s Interest Notice

Class H:	2,000,000 Performance Rights - vest
	upon the Company announcing an
	executionofabindingofftake
	agreement on the Company’s REE
	project and 18 months continuous
	employment.
Class I:	2,000,000 Performance Rights - vest
	upon the Company achieving and
	maintaining a VWAP share price equal of
	$0.10 or more for a continuous period of
	20 trading days and 24 months of
	continuous employment.
Class J:	2,000,000 Performance Rights – vest
	upon the Company achieving a Mineral
	Resource Estimates for the Company’s
	Gold project of at least 500,000 Au oz
	and 24 months of continuous
	employment.
Subject to	shareholders approval, Mr Longley will be
issued the	following options:
Tranche 1:	1,000,000ListedOptions(ASROB)
	exercisable at 3.5 cents expiring 30
	November 2023. Options will vest after 6
	months of continuous employment.
Tranche 2:	1,000,000 Unlisted Options exercisable
	at 4 cents expiring 3 years from the date
	of issue. Options will vest after 12
	months of continuous employment.
Tranche 3:	1,000,000 Unlisted Options exercisable
	at 4 cents expiring 3 years from the date
	of issue. Options will vest after 24
	months of continuous employment.

• See chapter 19 for defined terms.

Appendix 3X Page 4

11/3/2002