Mont Royal Resources — Share Issue/Capital Change 2021

Nov 24, 2021

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

==> picture [21 x 22] intentionally omitted <==

Announcement Summary

Entity name

MONT ROYAL RESOURCES LIMITED

Date of this announcement

Thursday November 25, 2021

The +securities the subject of this notification are: Other

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 Options exercisable at $0.35 per option expiring 5,000,000 25/11/2021 to be confirmed 25 November 2024.

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

1 / 7

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

==> picture [21 x 22] intentionally omitted <==

Part 1 - Entity and announcement details

1.1 Name of entity

MONT ROYAL 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

ACN

Registration number

625237658

1.3 ASX issuer code

MRZ

1.4 The announcement is

==> picture [8 x 8] intentionally omitted <==

New announcement

1.5 Date of this announcement

25/11/2021

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

2 / 7

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

==> picture [21 x 22] intentionally omitted <==

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

==> picture [8 x 8] intentionally omitted <==

Other

Please specify

Issue of Corporate Advisor Options approved at the Company's AGM held on 29 October 2021.

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

==> picture [8 x 9] intentionally omitted <==

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

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

3 / 7

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

==> picture [21 x 22] intentionally omitted <==

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

New +securities ASX +security code +Security description New class - code to be confirmed Options exercisable at $0.35 per option expiring 25 November 2024. +Security type ISIN code Options Date the +securities the subject of this notification were issued 25/11/2021 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? Yes Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://www.asx.com.au/asxpdf/20210928/pdf/450zhv6t51t3y6.pdf

Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.35000000 25/11/2024 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option Other Description Options exercisable at $0.35 per option expiring 25 November 2024. Any other information the entity wishes to provide about the +securities the subject of this notification

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

4 / 7

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

==> picture [21 x 22] intentionally omitted <==

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Please refer to the Company's announcement dated 3 September 2021 and Appendix 3B lodged on 3 September 2021, updated on 23 November 2021.

Issue details

Number of +securities

5,000,000

Were the +securities issued for a cash consideration?

==> picture [9 x 8] intentionally omitted <==

No

Please describe the consideration being provided for the +securities

Broker fee to act as lead manager to a capital raising as set out in the Company's announcement dated 3 September 2021.

Purpose of the issue

To pay for services rendered

Additional Details

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

5 / 7

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

==> picture [21 x 22] intentionally omitted <==

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
MRZ : ORDINARY FULLY PAID	37,876,715

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
MRZAC : OPTION EXPIRING 7-MAY-2022 RESTRICTED	1,500,000
MRZAD : OPTION EXPIRING 07-MAY-2022 RESTRICTED	1,250,000
MRZAE : OPTION EXPIRING 07-MAY-2022 RESTRICTED	1,250,000
MRZAF : OPTION EXPIRING 29-OCT-2024 EX $0.35	4,750,000
New class - code to be confirmed : Options exercisable at $0.35 per option expiring 25	5,000,000
November 2024.

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

6 / 7

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

==> picture [21 x 22] intentionally omitted <==

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

29/10/2021

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

7 / 7