LCL RESOURCES LIMITED — Director's Dealing 2020

Oct 22, 2020

Appendix 3Y Change of Director’s Interest Notice

ClassRule 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	LOS CERROS LIMITED
ABN	43 119 759 349

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	Ross Ashton
Date of last notice	4 September 2020

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 or indirect interest	Direct or indirect interest	Direct or indirect interest	Direct & Indirect	Direct & Indirect	Direct & Indirect	Direct & Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.				Freshwater Resources Pty Ltd <The Ashton SuperfundA/C>Freshwater Resources Pty Ltd <No 2 A/C>
Date of change				23 October 2020
No. of securities held prior to change				Freshwater Resources Pty Ltd <The Ashton SuperfundA/C>7,445,595 Ordinary Shares1,714,119 Quoted Options exercise price of 16 centsexpiring 16 August 2021937,500 Unquoted Options exercise price of 10cents expiring 6 April 2022Freshwater Resources Pty Ltd <No 2 A/C>1,028,303 Ordinary Shares205,661 Quoted Options exercise price of 16 centsexpiring 16 August 2021625,000 Class A Unquoted Options, exercise price of32 cents expiring 1 July 20232,000,000 Unquoted Options exercise price of 13.5cents expiring 30 September 2024
				937cenFresh	,500 Unquoted Opts expiring 6 April 20water Resources Pty	tions exercise22Ltd <No 2 A/C	price o>
				1,0205exp	28,303 Ordinary Sha,661 Quoted Optioniring 16 August 2021	ress exercise pric	e of 16 c
				62532	,000 Class A Unquotcents expiring 1 July	ed Options, ex2023	ercise pri
				2,0	00,000 Unquoted O	ptions exercise	price of

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Class	1. Ordinary Shares2. LCLPR6 - Performance Rights3. LCLPR7 – Performance Rights4. LCLPR8 – Performance Rights
Number acquired	1. 253,6012. 660,0003. 1,160,0004. 1,160,000
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	1. 7.64 cents per Share2-4 Nil
No. of securities held after change	Direct660,000 - LCLPR6 Performance Rights1,160,000 - LCLPR7 Performance Rights1,160,000 - LCLPR8 Performance RightsFreshwater Resources Pty Ltd <The Ashton SuperfundA/C>7,547,826 Ordinary Shares1,714,119 Quoted Options exercise price of 16 centsexpiring 16 August 2021937,500 Unquoted Options exercise price of 10cents expiring 6 April 2022Freshwater Resources Pty Ltd <No 2 A/C>1,179,673 Ordinary Shares205,661 Quoted Options exercise price of 16 centsexpiring 16 August 20211625,000 Class A Unquoted Options, exercise price of32 cents expiring 1 July 20232,000,000 Unquoted Options exercise price of 13.5cents expiring 30 September 2024
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	1. Issued in lieu of unpaid director fees andreimbursementofexpenses,approvedbyShareholders at the General Meeting held on 23October 20202-4 Issue of performance rights as approved byShareholders at the General Meeting held on 23October 2020

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.

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Detail of contract	-
Nature of interest	-
Name of registered holder(if issued securities)	-
Date of change	-
No. and class of securities to whichinterest related prior to changeNote: Details are only required for acontract in relation to which theinterest has changed	-
Interest acquired	-
Interest disposed	-
Value/ConsiderationNote: If consideration is non-cash,provide details and an estimatedvaluation	-
Interest after change	-

Part 3 –[+] Closed period

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

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3