LCL RESOURCES LIMITED — Director's Dealing 2021

Feb 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	23 October 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 & 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	15 February 2021

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to 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
Class	Fully paid ordinary shares and Performance Rights
Number acquired	660,000
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Nil

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

	No. of securities held after change	No. of securities held after change	No. of securities held after change	No. of securities held after change	No. of securities held after change	Direct1,160,000 LCLPR7 Performance Rights	Direct1,160,000 LCLPR7 Performance Rights	Direct1,160,000 LCLPR7 Performance Rights	Direct1,160,000 LCLPR7 Performance Rights	Direct1,160,000 LCLPR7 Performance Rights
						1,160,000 LCLP		R8 Performance Rights
						660000 Odi		Sh
						, rn		ry ares
						Freshwater Reso		urces Pty Ltd <The Ashton Superfund
						A/C>
						7,547,826 Ordinary Shares1,714,119 Quoted Options exercise price of 16 cents
						expiring 16 August 2			021
						937500 Unquoted			Options exercise price of 10
						c	,ents expiring 6 Apri		l 2022
						Fre1	shwater Resources,179,673 Ordinary S		Pty Ltd <Nohares	2 A/C>
						2e	05,661 Quoted Opxpiring 16 August 2		tions exercise0211	price of 16 cents
						63	25,000 Class A Unq2 cents expiring 1 J		uoted Optionuly 2023	s, exercise price of
						2	,000,000 Unquoted		Options exe	rcise price of 13.5
						cents 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					Exercise of performance rights to convert to fully paidordinary shares

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.

Part 2	Part 2	– Change of directo	– Change of directo	– Change of directo	r’s interest	r’s interest	s in contracts	s in contracts	s in contracts
Note: In thDetail		e case of a company, interests whic			h come within par		agraph (ii) of the definition of “			notifiable inte	rest of a direct	or” 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 se			urities to which		-
	.interest related prior to changeNote: Details are only required for a
	contract in rela		tion to which the
	interest has chang		ed
	Interest acquired					-

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

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?	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.

Appendix 3Y Page 4

01/01/2011