MAGNETITE MINES LIMITED. — Director's Dealing 2018

Jul 15, 2018

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17 July 2018

Ms Isabelle Andrews Adviser, Listings Compliance ASX Compliance Pty Ltd Level 40, Central Park 152 – 158 St Georges Terrace PERTH WA 6000

118B Glen Osmond Road, Parkside South Australia 5063

Telephone:+61 8 8427 0516 Facsimile:+61 8 8427 0515 info@magnetitemines.com

www.magnetitemines.com ABN: 34 108 102 432

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Via: Isabelle.andrews@asx.com.au

Dear Ms Andrews

APPENDIX 3Y – CHANGE OF DIRECTOR’S INTEREST NOTICE – PETER SCHUBERT

We refer to the attached lodgement of the Appendix 3Y – Change of Director’s Interest Notice for Mr Peter Schubert on the 17 July 2018 and advise the following:

• (1) The Appendix 3Y has been lodged late due to Mr Schubert’s broker inadvertently not notifying Mr Schubert that the trades had been completed;

• (2) The Company ensures it Directors are aware of the Company’s disclosure obligations under Listing Rule 3.19A, and has a signed agreement with each of its Directors, which requires Directors to notify the Company Secretary of any changes to securities they hold no later than 3 business days after the change so that the Company is able to meet its disclosure obligations under Listing Rule 3.19A; and

• (3) The Company’s current arrangements are considered adequate to ensure compliance with Listing Rule 3.19B.

Should you wish to discuss this matter further please do not hesitate to contact me.

Yours sincerely MAGNETITE MINES LIMITED

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Frank DeMarte Company Secretary

Document ID: ROYDOC-53-1577

Appendix 3Y Change of Director’s Interest Notice

Rule 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	MAGNETITE MINES LIMITED
ABN	34 108 102 432

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	Peter James Schubert
Date of last notice	21/05/2018

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	BOTH DIRECT AND INDIRECT
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Relevant interests arise by virtue of the power to control the voting rights attached to the securities of the entities.
Date of change	(1) 27/06/2018; (2) 28/06/2018; (3) 29/06/2018;
No. of securities held prior to change The Schubert Family Account The Schubert Super Fund No 2 Account	20,522,782 ordinary shares. 5,297,782 Quoted options exercisable at 5 cents each on or before 31 May 2021. 10,000,000 Unquoted options exercisable at 2 cents each on or before 30 November 2021. 10,000,000 Unquoted options exercisable at 5 cents each on or before 30 November 2022. 5,966,129 ordinary shares.

• See chapter 19 for defined terms.

Appendix 3Y Page 1

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Class	(1), (2) & (3) Ordinary shares
Number acquired The Schubert Family Account	(1) 128,436; (2) 70,225; (3) 301,339.
Number disposed	-
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	(1) $1,445.80; (2) $805.48; (3) $3,347.73.
No. of securities held after change The Schubert Family Account The Schubert Super Fund No 2 Account	21,022,782 ordinary shares. 5,297,782 Quoted options exercisable at 5 cents each on or before 31 May 2021. 10,000,000 Unquoted options exercisable at 2 cents each on or before 30 November 2021. 10,000,000 Unquoted options exercisable at 5 cents each on or before 30 November 2022. 5,966,129 ordinary shares.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On market trades.

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	Not applicable.
Nature of interest	-
Name of registered holder (if issued securities)	-
Date of change	-
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	-

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Interest acquired - Interest disposed - Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation - Interest after change -

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closedperiod whereprior written clearance was required?	No.
If so, was prior written clearance provided to allow the trade to proceed during this period?	-
If prior written clearance was provided, on what date was this provided?	-

• See chapter 19 for defined terms.

Appendix 3Y Page 3

01/01/2011