PATERSON RESOURCES LTD — Capital/Financing Update 2023

Dec 4, 2023

Announcement Summary

Entity name

PATERSON RESOURCES LTD

Date of this announcement

Tuesday December 05, 2023

The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Total number of +securities to be issued/transferred

ASX +securitycode	Security description	Total number of+securities to beissued/transferred	Issue date
PSLAO	OPTION EXPIRING 24-NOV-2026 DEFERRED	6,961,080	05/12/2023

Refer to next page for full details of the announcement

Part 1 - Entity and announcement details

1.1 Name of entity

PATERSON RESOURCES LTD

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

45115593005

1.3 ASX issuer code PSL

1.4 The announcement is

New announcement

1.5 Date of this announcement

5/12/2023

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Previous Appendix 3B details:

Announcement Date andTime	Announcement Title	Selected Appendix 3B to submit quotationrequest
08-Nov-2023 11:38	Update - Update - Proposed issue ofsecurities - PSL	A standard +pro rata issue (non-renounceable)

2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B?

Yes

Equity Securities

2.3a.3 Please provide details of the further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B

The shortfall of approximately 25,807,302 shares and 12,903,651 free attaching options will be issued within the week.

Part 3A - number and type of +securities the subject of this notification (existing class or new class) where issue has previously been

notified to ASX in an Appendix 3B

Corporate Action Component Detail

ASX +security code and description

PSLAO : OPTION EXPIRING 24-NOV-2026 DEFERRED

Date the +securities the subject of this notification were issued

5/12/2023

Any other information the entity wishes to provide about the +securities the subject of this notification

Issue details

Number of +securities6,961,080
Were the +securities issued for a cash consideration?Yes
In what currency was the cash consideration beingpaid?	What was the issue price per +security?
AUD - Australian Dollar	AUD 0.00000000

Part 4 - +Securities on issue

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 5 / 5

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)

ASX +security code and description

PSL : ORDINARY FULLY PAID 397,294,317

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

ASX +security code and description

PSLAO : OPTION EXPIRING 24-NOV-2026 DEFERRED 6,961,080

Total number of +securities on issue

Total number of +securities on issue