LODE RESOURCES LTD — Major Shareholding Notification 2021

Jul 11, 2021

Form603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme	LODE RESOURCES LTD
ACN/ARSN	637 512 415
1. Details of substantial holder (1)
Name	MICHAEL RUANE
ACN/ARSN (if applicable)	ABN 99 684 497 039

The holder became a substantial holder on

$2^{ND}$ July 2021

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) inon the date the substantial holder became as ubstantial holder are as follows:

Class of securities (4)	Number of securities	Person's votes(5)	Voting power (6)
Ordinary Shares fully paid	7,000,000	7,000,000	8.75%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holderareas follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
MICHAEL RUANE	Relevant interest under section $608(1)(b)$ of	7,000,000
	the Corporations Act being by reason of	Ordinary shares fully paid
	having the power to exercise, or control the
	exercise of a right to vote attached to the
	securities.

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant	Registered holder of	Person entitled to be	Class and number
interest	securities	registered as holder (8)	ofsecurities
Kesli Chemicals Pty Ltd	Kesli Chemicals Pty Ltd	Michael Ruane	3,000,000 Ordinary
KRuane Super Fund>	KRuane Super Fund>		shares fully paid
Tyson Resources Pty Ltd (A)	Tyson Resources Pty Ltd	Michael Ruane	2,000,000 Ordinary
			shares fully paid
Tyson Resources Pty Ltd (B)	Tyson Resources Pty Ltd	Michael Ruane	2,000,000 Ordinary
			shares fully paid

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantialholder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9)		Class and number ofsecurities
		Cash	Non-cash
Kesli Chemicals Pty Ltd < Ruane $25th$ June 2021 Super Fund $>$		\$600,000		3,000,000 Ordinary shares fully paid
Tyson Resources Pty Ltd (A)	$6th$ June 2020	\$100,000		2,000,000 Ordinary shares fully paid
Tyson Resources Pty Ltd (B)	$25th$ June 2021	\$400,000		2,000,000 Ordinary shares fully paid

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association

7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Michael Ruane	29 Cunningham Street, Ardross, WA, 6153

Signature

print name	MICHAEL RUANE	capacity
sign here		date $\sqrt{2}$ 107 $\sqrt{2}$

DIRECTIONS

Muchael Chane

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its relatedoporations, or the manager and trustee of an $(1)$ equity trust), the names could be included in an annexure to the form. If the relevant interests of agroup of persons are een stays imilar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members bany set out in paragraph 7 of the form.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• $(3)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that person or an associate has a relevant $(5)$ interest in.
• $(6)$ The person's votes divided by the total votes in the body corporate or schememultiplied by 100.

$(7)$ Includedetailsof:

• any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies py of any document setting out $(a)$ the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, schemeaorrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the volrgy peasor disposal of the securities to $(b)$ which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises becausanoption) write "unknown". $(8)$

Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interroas acquired has, or may, become $(9)$ entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happroprot of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if thay not paid directly to the person from whom the relevant interest was acquired.