RAGNAR METALS LIMITED — Director's Dealing 2017

Jun 18, 2017

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	DRAKE RESOURCES LIMITED
ABN	12 108 560 069

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	Jay Stephenson
Date of last notice	8 May 2017

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	Direct & Indirect
Nature of indirect interest	Indirect
(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest.	1.Almamater Pty Ltd 2.Pazzia Pty Ltd 3.Shares held by Spouse4.WSG Capital Pty Ltd5.Vin Ethos Pty Ltd
Date of change	19 June 2017
No. of securities held prior to change	Direct87 Ordinary SharesIndirect1.84,463 Ordinary Shares12,717 Options $4.50 expiring 01/08/20172.16,335 Ordinary Shares
	2,150 Options $4.50 expiring 01/08/20173.918 Ordinary Shares
	4.2,137 Options $4.50 expiring 01/08/2017
	5.3,500,000 Options 3 cents expiring 05/05/2021

• See chapter 19 for defined terms.

Class	Ordinary Shares
Number acquired	Nil
Number disposed	84,463
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$0.01 per Share
No. of securities held after change	Direct87 Ordinary SharesIndirect1.12,717 Options $4.50 expiring 01/08/20172.16,335 Ordinary Shares2,150 Options $4.50 expiring 01/08/20173.918 Ordinary Shares4.2,137 Options $4.50 cents expiring 01/08/20175.3,500,000 Options 3 cents expiring 05/05/2021
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participationin buy-back	Off market transfer

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	-
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
Interest acquired	-

+ See chapter 19 for defined terms.

Interest disposed	-
Value/ConsiderationNote: If consideration is non-cash,providedetailsandanestimatedvaluation	-
Interest after change	-

Part 3 – +Closed period

Were the interests in the securities or contracts detailed above	No
traded during a +closed period where prior written clearance
was required?
If so, was prior written clearance provided to allow the trade toproceed during this period?	N/A
If prior written clearance was provided, on what date was thisprovided?	N/A

+ See chapter 19 for defined terms.