LIONTOWN LIMITED — Capital/Financing Update 2021

Jul 19, 2021

Application for quotation of +securities

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Announcement Summary

Entity name

LIONTOWN RESOURCES LIMITED

Announcement Type

New announcement

Date of this announcement

Tuesday July 20, 2021

The +securities to be quoted are:

+Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities being converted

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
LTR	ORDINARY FULLY PAID	10,885,259	20/07/2021

Refer to next page for full details of the announcement

Application for quotation of +securities

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Application for quotation of +securities

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Part 1 - Entity and announcement details

1.1 Name of entity

LIONTOWN RESOURCES LIMITED

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

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

20/7/2021

Application for quotation of +securities

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Application for quotation of +securities

Part 2 - Type of Issue

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2.1 The +securities to be quoted are:

+Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities being converted

2.2 The +securities to be quoted are:

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Additional +securities in a class that is already quoted on ASX ("existing class")

Application for quotation of +securities

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Application for quotation of +securities

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Part 3B - number and type of +securities to be quoted (existing class) where issue has not previously been notified to ASX in an Appendix 3B

Existing +securities converting into additional +securities in an existing class

FROM (Existing Class) ASX +security code and description LTRAI : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES

TO (Existing Class) ASX +security code and description

LTR : ORDINARY FULLY PAID

Please state the number of options The first date the options were The last date the options were that were exercised or other exercised or other +convertible exercised or other +convertible +convertible securities that were securities were converted securities were converted converted 20/7/2021 2,000,000

Is this all of the options or other +convertible securities on issue of that type (ie have all of those options now been exercised or have all of those convertible securities now been converted)? No

The right of the holder of the options or other +convertible securities to receive the +underlying securities is being satisfied by:

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An issue of new +securities

The underlying securities being received by the holder are: Intended to be, but are not yet, quoted by ASX

Were the options being exercised or other +convertible securities being converted issued under an +employee incentive scheme? Yes

Are any of the options being exercised or other +convertible securities being converted held by +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates who are exercising options or converting convertible securities

		Number of options being exercised
		or other +convertible securities
Name of KMP	Name of registered holder	being converted
Anthony Cipriano	Anthony James Cipriano Family Account>	2,000,000

Application for quotation of +securities

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Application for quotation of +securities

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Issue date 20/7/2021

Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Issue details

Number of +securities to be quoted

2,000,000 Are the +securities being issued for a cash consideration? Yes In what currency is the cash consideration being paid? What is the issue price per +security? AUD - Australian Dollar AUD 0.15000000

Any other information the entity wishes to provide about the +securities to be quoted

Existing +securities converting into additional +securities in an existing class

FROM (Existing Class) ASX +security code and description

LTRAI : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES

TO (Existing Class) ASX +security code and description

LTR : ORDINARY FULLY PAID

Please state the number of options The first date the options were The last date the options were that were exercised or other exercised or other +convertible exercised or other +convertible +convertible securities that were securities were converted securities were converted converted 16/7/2021 3,300,000

Is this all of the options or other +convertible securities on issue of that type (ie have all of those options now been exercised or have all of those convertible securities now been converted)? No

The right of the holder of the options or other +convertible securities to receive the +underlying securities is being satisfied by:

Application for quotation of +securities

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Application for quotation of +securities

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An issue of new +securities

The underlying securities being received by the holder are: Intended to be, but are not yet, quoted by ASX

Were the options being exercised or other +convertible securities being converted issued under an +employee incentive scheme? Yes

Are any of the options being exercised or other +convertible securities being converted held by +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates who are exercising options or converting convertible securities

		Number of options being exercised
		or other +convertible securities
Name of KMP	Name of registered holder	being converted
Craig Hasson	Craig Eon Hasson and Lisa Michell Hasson ATF The MTB Investment Trust	1,000,000

Issue date

20/7/2021

Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class?

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Yes

Application for quotation of +securities

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Application for quotation of +securities

Issue details

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Number of +securities to be quoted

2,700,143

Are the +securities being issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

3,300,000 options (exercisable at $0.15 each) to acquire 2,700,143 ordinary fully paid shares pursuant to a cashless exercise facility.

Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted 0.183300

Any other information the entity wishes to provide about the +securities to be quoted

$0.1833 per share issued representing $495,000 otherwise payable to exercise the options settled pursuant to a cashless exercise facility.

Existing +securities converting into additional +securities in an existing class

FROM (Existing Class) ASX +security code and description LTRAK : OPTION EXPIRING 16-MAR-2023 EX 11.22C

TO (Existing Class) ASX +security code and description LTR : ORDINARY FULLY PAID Please state the number of options The first date the options were The last date the options were that were exercised or other exercised or other +convertible exercised or other +convertible +convertible securities that were securities were converted securities were converted converted 16/7/2021 3,125,000

Is this all of the options or other +convertible securities on issue of that type (ie have all of those options now been exercised or have all of those convertible securities now been converted)? No

The right of the holder of the options or other +convertible securities to receive the +underlying securities is being satisfied by: An issue of new +securities

The underlying securities being received by the holder are: Intended to be, but are not yet, quoted by ASX

Were the options being exercised or other +convertible securities being converted issued under an +employee incentive scheme?

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Application for quotation of +securities

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Application for quotation of +securities

Yes

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Are any of the options being exercised or other +convertible securities being converted held by +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates who are exercising options or converting convertible securities

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Number of options being exercised
or other +convertible securities
Name of KMP Name of registered holder being converted
Adam Smits Ms Gina Su Gin Chua A/C>
Issue date
20/7/2021
Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued
+securities in that class?
Yes
Issue details
Number of +securities to be quoted
3,125,000
Are the +securities being issued for a cash consideration?
Yes
In what currency is the cash consideration being paid? What is the issue price per +security?
AUD - Australian Dollar AUD 0.11220000
Any other information the entity wishes to provide about the +securities to be quoted
Existing +securities converting into additional +securities in an existing class
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Application for quotation of +securities

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Application for quotation of +securities

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FROM (Existing Class) ASX +security code and description

LTRAK : OPTION EXPIRING 16-MAR-2023 EX 11.22C

TO (Existing Class) ASX +security code and description

LTR : ORDINARY FULLY PAID

Please state the number of options that were exercised or other +convertible securities that were converted 3,541,666

The first date the options were The last date the options were exercised or other +convertible exercised or other +convertible securities were converted securities were converted 16/7/2021

Is this all of the options or other +convertible securities on issue of that type (ie have all of those options now been exercised or have all of those convertible securities now been converted)? No

The right of the holder of the options or other +convertible securities to receive the +underlying securities is being satisfied by:

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An issue of new +securities

The underlying securities being received by the holder are: Intended to be, but are not yet, quoted by ASX

Were the options being exercised or other +convertible securities being converted issued under an +employee incentive scheme? Yes

Are any of the options being exercised or other +convertible securities being converted held by +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates who are exercising options or converting convertible securities

Number of options being exercised or other +convertible securities Name of KMP Name of registered holder being converted Adam Smits Ms Gina Su Gin Chua

Issue date

20/7/2021

Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class?

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Yes

Application for quotation of +securities

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Application for quotation of +securities

Issue details

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Number of +securities to be quoted

3,060,116

Are the +securities being issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

3,541,666 options (exercisable at $0.1122 each) to acquire 3,060,116 ordinary fully paid shares pursuant to a cashless exercise facility.

Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted

0.129856

Any other information the entity wishes to provide about the +securities to be quoted

$0.129856 per share issued representing $397,375 otherwise payable to exercise the options settled pursuant to a cashless exercise facility.

Application for quotation of +securities

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Application for quotation of +securities

Part 4 - Issued capital following quotation

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Following the quotation of the +securities the subject of this application, the issued capital 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 on ASX following the +quotation of the +securities subject of this application)

	Total number of
ASX +security code and description	+securities on issue
LTR : ORDINARY FULLY PAID	1,830,495,240

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
LTRAM : OPTION EXPIRING 05-OCT-2023 EX $0.30	250,000
LTRAK : OPTION EXPIRING 16-MAR-2023 EX 11.22C	3,333,334
LTRAI : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	11,600,000
LTRAN : OPTION EXPIRING 25-NOV-2023 EX $0.30	3,250,000
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
LTRAO : OPTION EXPIRING 09-FEB-2023 EX $0.50	2,500,000
LTRAP : OPTION EXPIRING 09-FEB-2023 EX $0.54	2,500,000
LTRAQ : OPTION EXPIRING 09-FEB-2024 EX $0.58	2,500,000

Application for quotation of +securities

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