LIONTOWN LIMITED — Capital/Financing Update 2021

Nov 23, 2021

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

LIONTOWN RESOURCES LIMITED

Date of this announcement

Wednesday November 24, 2021

The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	Unlisted Options	500,000	24/11/2021
to be confirmed

Refer to next page for full details of the announcement

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

LIONTOWN RESOURCES LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

39118153825

1.3 ASX issuer code

LTR

1.4 The announcement is

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New announcement

1.5 Date of this announcement

24/11/2021

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Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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does not have an existing ASX security code ("new class")

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

ASX +security code +Security description New class - code to be confirmed Unlisted Options +Security type ISIN code Options

Date the +securities the subject of this notification were issued 24/11/2021

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Jennifer Morris	Jennifer Lyn Morris A/C>	500,000

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Material terms of the options are contained in Schedule 3 of the Notice of Annual General Meeting lodged with ASX on 25 October 2021 which is available at: https://www.ltresources.com.au/sites/default/files/asx-announcements/61057970.pdf

Options Details

+Security currency AUD - Australian Dollar

Exercise price Expiry date AUD 2.45000000 23/11/2024

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

Description

LTR - Fully paid ordinary shares

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

Issued under the Company's Employee Securities Incentive Plan approved by shareholders at the AGM held on 24 November 2021. A summary of the terms of the Employee Securities Incentive Plan is set out in Schedule 2 of the Notice of Annual General Meeting lodged with ASX on 25 October 2021 which is available at: https://www.ltresources.com.au/sit es/default/files/asx-announcements/61057970.pdf

Any other information the entity wishes to provide about the +securities the subject of this notification

Issue details

Number of +securities 500,000

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
LTR : ORDINARY FULLY PAID	1,911,678,382
4.2 Unquoted +Securities (Total number of each +class of +securities issued but	not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
LTRAK : OPTION EXPIRING 16-MAR-2023 EX 11.22C	3,333,334
LTRAI : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	2,000,000
LTRAN : OPTION EXPIRING 25-NOV-2023 EX $0.30	2,000,000
LTRAR : PERFORMANCE RIGHTS EXPIRING 01-JUL-2023	1,250,000
LTRAS : PERFORMANCE RIGHTS EXPIRING 01-JUL-2024	1,250,000
LTRAT : PERFORMANCE RIGHTS EXPIRING 30-JUN-2023	971,736
LTRAU : PERFORMANCE RIGHTS EXPIRING 30-JUN-2025	2,915,212
LTRAP : OPTION EXPIRING 09-FEB-2023 EX $0.54	2,500,000
LTRAQ : OPTION EXPIRING 09-FEB-2024 EX $0.58	2,500,000
New class - code to be confirmed : Unlisted Options	500,000

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

24/11/2021

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