MINREX RESOURCES LIMITED — Director's Dealing 2023

Dec 20, 2023

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 MinRex Resources Limited
ABN		81 151 185 867

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	Ian Shackleton
Date of last notice	5 October 2023

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.

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Direct or indirect interest Direct
Nature of indirect interest Not Applicable
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant
interest.
Date of change 21 December 2023
No. of securities held prior to change 4,900,000 Fully Paid Ordinary Shares
5,000,000 Performance Rights
Class Performance Rights
Number acquired 17,000,000
Number disposed Nil
Value/Consideration The Performance Rights were issued for
Note: If consideration is non-cash, provide details and estimated nil consideration. Refer to the valuation
valuation
included in Schedule 3 of the Notice of
Meeting dated 30 October 2023.
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• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change

4,900,000 Fully Paid Ordinary Shares 1,500,000 Class PRC Performance Rights with vesting conditions of: - The Company’s share price achieving a VWAP over 20 consecutive trading days reaching at least $0.08 2,000,000 Class PRE Performance Rights with vesting conditions of: - The Company’s share price achieving a VWAP over 20 consecutive trading days reaching at least $0.09 1,500,000 Class PRG Performance Rights with vesting conditions of: - The Company’s share price achieving a VWAP over 20 consecutive trading days reaching at least $0.13 4,000,000 Class A Performance Rights with vesting conditions of: - The Company’s share price achieving a VWAP over 20 consecutive trading days reaching at least $0.025; and - 25% vesting upon the holder being continuously engaged by the Company for 6/12/18/24 months 4,000,000 Class B Performance Rights with vesting conditions of: - The Company’s share price achieving a VWAP over 20 consecutive trading days reaching at least $0.04; and - 25% vesting upon the holder being continuously engaged by the Company for 6/12/18/24 months 4,500,000 Class C Performance Rights with vesting conditions of: - The Company’s share price achieving a VWAP over 20 consecutive trading days reaching at least $0.06; and - 25% vesting upon the holder being continuously engaged by the Company for 6/12/18/24 months

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change (continued)	4,500,000 Class D Performance Rights with vesting conditions of: - The Company’s share price achieving a VWAP over 20 consecutive trading days reaching at least $0.08; and - 25% vesting upon the holder being continuously engaged by the Company for 6/12/18/24 months
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy- back	Performance Rights issued following shareholder approval at the Annual General Meeting held on 30 November 2023.

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.

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Detail of contract N/A
Nature of interest N/A
Name of registered holder N/A
(if issued securities)
Date of change N/A
No. and class of securities to which N/A
interest related prior to change
Note: Details are only required for a contract in
relation to which the interest has changed
Interest acquired N/A
Interest disposed N/A
Value/Consideration N/A
Note: If consideration is non-cash, provide details
and an estimated valuation
Interest after change N/A
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Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed No above traded during a[+] closed period where prior written clearance was required?

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms.

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