LCL RESOURCES LIMITED — Director's Dealing 2021

Jul 15, 2021

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	08 June 2021

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 & Indirect
Nature of indirect interest	Freshwater Resources Pty Ltd <The Ashton Superfund
(including registered holder)	A/C>
Note: Provide details of the circumstances giving rise to the relevant
interest.	Freshwater Resources Pty Ltd <No 2 A/C>
Date of change	16 July 2021

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	Direct1,160,000 LCLPR7 Performance Rights1,160,000 LCLPR8 Performance Rights660,000 Ordinary Shares
	Freshwater Resources Pty Ltd <The Ashton Superfund
	A/C>7,808,695 Ordinary Shares
	1,714,119 Quoted Options exercise price of 16 centsexpiring 16 August 2021
	937,500 Unquoted Options exercise price of 10cents expiring 6 April 2022Freshwater Resources Pty Ltd <No 2 A/C>1,179,673 Ordinary Shares
	205,661 Quoted Options exercise price of 16 cents
	expiring 16 August 2021
	625,000 Class A Unquoted Options, exercise price of32 cents expiring 1 July 2023
	2,000,000 Unquoted Options exercise price of 13.5b
	cents expiring 30 Septemer 2024
Class	Fully paid ordinary shares
Number acquired	205,661
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$32,905.76 to exercise 205,661 options at exerciseprice of $0.16.
No. of securities held after change	Direct1,160,000 LCLPR7 Performance Rights1,160,000 LCLPR8 Performance Rights660,000 Ordinary SharesFreshwater Resources Pty Ltd <The Ashton SuperfundA/C>7,808,695 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>1,385,334 Ordinary Shares625,000 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

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Nature of change

Exercise of options

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

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	-
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

Were the interests in the securities or contracts detailed abovetraded during a+closed period where prior written clearancewas required?	Yes
If so, was prior written clearance provided to allow the trade toproceed during this period?	Yes
If prior written clearance was provided, on what date was thisprovided?	15 July 2021

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3