IMPACT MINERALS LIMITED — Director's Dealing 2016

May 19, 2016

ASX ANNOUNCEMENT

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20 May 2016

Company Announcements Office Australian Securities Exchange

20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

APPENDIX 3Y’S – LATE LODGEMENT NOTICE

Please find attached Appendix 3Y’s “Change of Director’s Interest Notice” for Mr Michael Jones, Mr Peter Unsworth, Mr Markus Elsasser and Mr Paul Ingram.

In relation to the late lodgement of the attached Appendix 3Y’s, we advise as follows:

1. The Appendices were lodged late due to an administrative oversight at the time unlisted options were issued to Directors after the 2015 Annual General Meeting (29 September 2015) and upon the lapse of listed and unlisted options (30 November 2015) and in the case of Mr Ingram in relation to his acquisition of shares in the Company under the merger between Invictus Gold Limited and Impact Minerals Limited (6 January 2014).

2. The Company has procedures in place under which Directors are obliged to advise the Company Secretary when a change takes place in their notifiable interest. We note however that none of the above changes were as a result of an on-market trade. The new options were issued to Directors following shareholder approval at the 2015 Annual General Meeting. The listed and unlisted options expired in accordance with their terms and the shares issued to Mr Ingram were part of a Scheme of Arrangement.

3. Whilst the Company considers its current arrangements are adequate for ensuring timely notification, and that the failure to do so on these occasions was due to an oversight, it has nevertheless reviewed its procedures to ensure that it meets its disclosure obligations.

Yours faithfully

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Bernard Crawford Company Secretary

• T +61 (8) 6454 6666 F +61 (8) 6454 6667

• A 26 Richardson Street West Perth Western Australia 6005

• E info@impactminerals.com.au

W impactminerals.com.au

ABN 52 119 062 261

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of 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 30/09/01 Amended 01/01/11

Name of entity: IMPACT MINERALS LIMITED

ABN: 54 119 062 261

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Michael Griffith Jones
Date of last notice	22 September 2015

Part 1 - Change of director’s relevant interests in securities

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.

Direct or indirect interest	Direct and Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Image Interpretation Technologies Pty Ltd (Director and Shareholder)
Date of change	A. 29 September 2015 B. 30 November 2015
No. of securities held prior to change	Image Interpretation Technologies Pty Ltd 6,881,718 Ordinary Shares 5,000,000 Unlisted Options exercisable at 6 cents and expiring 30 Nov 2015; 5,000,000 Unlisted Options exercisable at 10 cents and expiring 30 Nov 2016; 8,000 Listed Options exercisable at 20 cents and expiring 30 Nov 2015.
Class	A. Unlisted Options B. Listed and Unlisted Options

• See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Number acquired	A. Direct 10,000,000 Unlisted Options exercisable at 3.67 cents and expiring 29 Sep 2018; 5,000,000 Unlisted Options exercisable at 4.5 cents and expiring 29 Sep 2019; 5,000,000 Unlisted Options exercisable at 7 cents and expiring 29 Sep 2020.
Number disposed	B. Image Interpretation Technologies Pty Ltd 5,000,000 Unlisted Options exercisable at 6 cents and expiring 30 Nov 2015; 8,000 Listed Options exercisable at 20
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	d A. Nil B. Nil
No. of securities held after change	Direct 10,000,000 Unlisted Options exercisable at 3.67 cents and expiring 29 Sep 2018; 5,000,000 Unlisted Options exercisable at 4.5 cents and expiring 29 Sep 2019; 5,000,000 Unlisted Options exercisable at 7 cents and expiring 29 Sep 2020. Image Interpretation Technologies Pty Ltd 6,881,718 Ordinary Shares; 5,000,000 Unlisted Options exercisable at 10 cents and expiring 30 Nov 2016.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	A. Unlisted Options issued to Directors as approved at the Company’s 29 September Annual General Meeting. B. Expiryof Options

Part 2 – Change of 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	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of 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 30/09/01 Amended 01/01/11

Name of entity: IMPACT MINERALS LIMITED

ABN: 54 119 062 261

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Peter John Unsworth
Date of last notice	22 September 2015

Part 1 - Change of director’s relevant interests in securities

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.

Direct or indirect interest	Direct and Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	PJ Enterprises Pty Ltd (Director and Shareholder) Manotel Pty Ltd (Director and Shareholder)
Date of change	A. 29 September 2015 B. 30 November 2015
No. of securities held prior to change	PJ Enterprises Pty Limited A/C> 10,385,913 Ordinary Shares; 2,000,000 Unlisted Options exercisable at 6 cents and expiring 30 Nov 2015; 2,000,000 Unlisted Options exercisable at 10 cents and expiring 30 Nov 2016; 4,000 Listed Options exercisable at 20 cents and expiring 30 Nov 2015. Manotel Pty Ltd 3,385,962 Ordinary Shares; 4,000 Listed Options exercisable at 20 cents and expiring 30 Nov 2015.

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Class	A. Unlisted Options B. Listed and Unlisted Options
Number acquired	A. Direct 4,000,000 Unlisted Options exercisable at 3.67 cents and expiring 29 Sep 2018; 2,000,000 Unlisted Options exercisable at 4.5 cents and expiring 29 Sep 2019; 2,000,000 Unlisted Options exercisable at 7 cents and expiring 29 Sep 2020.
Number disposed	B. PJ Enterprises Pty Limited A/C> 2,000,000 Unlisted Options exercisable at 6 cents and expiring 30 Nov 2015; 4,000 Listed Options exercisable at 20 cents and expiring 30 Nov 2015. Manotel Pty Ltd 4,000 Listed Options exercisable at 20 cents and expiring 30 Nov 2015.
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	A. Nil B. Nil
No. of securities held after change	Direct 4,000,000 Unlisted Options exercisable at 3.67 cents and expiring 29 Sep 2018; 2,000,000 Unlisted Options exercisable at 4.5 cents and expiring 29 Sep 2019; 2,000,000 Unlisted Options exercisable at 7 cents and expiring 29 Sep 2020. PJ Enterprises Pty Limited A/C> 10,385,913 Ordinary Shares; 2,000,000 Unlisted Options exercisable at 10 cents and expiring 30 Nov 2016; Manotel Pty Ltd 3,385,962 Ordinary Shares.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	A. Unlisted Options issued to Directors as approved at the Company’s 29 September Annual General Meeting. B. Expiryof Options

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Part 2 – Change of 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	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of 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 30/09/01 Amended 01/01/11

Name of entity: IMPACT MINERALS LIMITED

ABN: 54 119 062 261

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Markus Elsasser
Date of last notice	22 July 2015

Part 1 - Change of director’s relevant interests in securities

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.

Direct or indirect interest	Direct and Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	M. Elsasser & Cie AG 1971 (Director and Shareholder)
Date of change	A. 29 September 2015 B. 30 November 2015 C. 13 May 2016
No. of securities held prior to change	Direct: 1,000,000 Unlisted Options exercisable at 6 cents and expiring 30 Nov 2015; 1,000,000 Unlisted Options exercisable at 10 cents and expiring 30 Nov 2016. Indirect: 22,685,402 Ordinary Shares
Class	A. Unlisted Options B. Unlisted Options C. Ordinary Shares

• See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Number acquired	A. Direct 2,000,000 Unlisted Options exercisable at 3.67 cents and expiring 29 Sep 2018; 1,000,000 Unlisted Options exercisable at 4.5 cents and expiring 29 Sep 2019; 1,000,000 Unlisted Options exercisable at 7 cents and expiring 29 Sep 2020. C. M. Elsasser & Cie AG 1971 625,000 Ordinary Shares
Number disposed	B. Direct 1,000,000 Unlisted Options exercisable at 6 cents and expiring 30 Nov 2015.
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	A. Nil B. Nil C. 2.4 cents per share
No. of securities held after change	Direct: 1,000,000 Options exercisable at 10 cents and expiring on the 30 Nov 2016; 2,000,000 Unlisted Options exercisable at 3.67 cents and expiring 29 Sep 2018; 1,000,000 Unlisted Options exercisable at 4.5 cents and expiring 29 Sep 2019; 1,000,000 Unlisted Options exercisable at 7 cents and expiring 29 Sep 2020. Indirect: 23,310,402 Ordinary Shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	A. Unlisted Options issued to Directors as approved at the Company’s 29 September Annual General Meeting. B. Expiry of Options C. Ordinary Shares issued pursuant to the Company’s Share Purchase Plan announced 14 April 2016.

Part 2 – Change of 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 N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of 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 30/09/01 Amended 01/01/11

Name of entity: IMPACT MINERALS LIMITED

ABN: 54 119 062 261

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Paul Ingram
Date of last notice	22 July 2015

Part 1 - Change of director’s relevant interests in securities

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.

Direct or indirect interest	Direct and Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Fabian Entertainment and Management Services Pty Ltd as Trustee for Paul Ingram Trust (Director and Shareholder)
Date of change	A. 6 January 2014 B. 29 September 2015 C. 30 November 2015
No. of securities held prior to change	Indirect 568,180 Ordinary Shares 1,000,000 Unlisted Options exercisable at 6 cents and expiring 30 Nov 2015; 1,000,000 Unlisted Options exercisable at 10 cents and expiring 30 Nov 2016.
Class	A. Ordinary Shares B. Unlisted Options C. Unlisted Options

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Number acquired	A. Indirect 12,500 Ordinary Shares B. Direct 2,000,000 Unlisted Options exercisable at 3.67 cents and expiring 29 Sep 2018; 1,000,000 Unlisted Options exercisable at 4.5 cents and expiring 29 Sep 2019; 1,000,000 Unlisted Options exercisable at 7 cents and expiring 29 Sep 2020.
Number disposed	C. Indirect 1,000,000 Unlisted Options exercisable at 6 cents and expiring 30 Nov 2015.
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	A. Securities were issued under the merger between Invictus Gold Limited and Impact Minerals Limited as per the Scheme Booklet dated 28 October October 2013 issued by Invictus Gold Limited. B. Nil C. Nil
No. of securities held after change	Direct 2,000,000 Unlisted Options exercisable at 3.67 cents and expiring 29 Sep 2018; 1,000,000 Unlisted Options exercisable at 4.5 cents and expiring 29 Sep 2019; 1,000,000 Unlisted Options exercisable at 7 cents and expiring 29 Sep 2020. Indirect 580,680 Ordinary Shares; 1,000,000 Unlisted Options exercisable at 10 cents and expiring 30 Nov 2016.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	A. Securities were issued under the merger between Invictus Gold Limited and Impact Minerals Limited as per the Scheme Booklet dated 28 October October 2013 issued by Invictus Gold Limited. B. Unlisted Options issued to Directors as approved at the Company’s 29 September Annual General Meeting. C. Expiryof Options

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Part 2 – Change of 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	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3