RAGNAR METALS LIMITED — Proxy Solicitation & Information Statement 2015

Nov 9, 2015

Suite 12, Level 1 11 Ventnor Avenue West Perth WA 6005 P: +61 8 6141 3585 F: +61 8 6141 3599

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E: info@drakeresources.com.au

ASX Announcement 10 November 2015

Replacement Proxy Form

Drake Resources Limited (the ‘Company’) advises that the Proxy Form contained in the Notice of Annual General Meeting dated 16 October 2015 is to be replaced with the ‘Replacement Proxy Form’ attached. The Company may disregard any proxies received that are not completed on the Replacement Proxy Form.

Jay Stephenson

COMPANY SECRETARY

REPLACEMENT PROXY FORM

APPOINTMENT OF PROXY DRAKE RESOURCES LIMITED ACN 108 560 069

ANNUAL GENERAL MEETING

I/We of: being a Shareholder entitled to attend and vote at the Meeting, hereby appoint: Name: OR: the Chair of the Meeting as my/our proxy.

or failing the person so named or, if no person is named, the Chair, or the Chair’s nominee, to vote in accordance with the following directions, or, if no directions have been given, and subject to the relevant laws as the proxy sees fit, at the Meeting to be held at 10:00am, on 27 November 2015 at Suite 12, Level 1, 11 Ventnor Avenue, West Perth WA 6005, and at any adjournment thereof.

The Chair intends to vote undirected proxies in favour of all Resolutions in which the Chair is entitled to vote other than Resolutions 1 and 3 to 5.

Voting on business of the Meeting	Voting on business of the Meeting	FOR	AGAINST	ABSTAIN
Resolution 1	Adoption of Remuneration Report
Resolution 2	Re-election of Director – Mr Jay Stephenson
Resolution 3	Issue of Shares to Related Party – Mr Brett Fraser
Resolution 4	Issue of Shares to Related Party – Dr Robert Beeson
Resolution 5	Issue of Shares to Related Party – Mr Jay Stephenson
Resolution 6	Ratification of Prior Issue of Shares – Mr Jason Stirbinskis, CEO
Resolution 7	Ratification of Prior Issue of Shares – Societe Miniere de Mandiana (SMM)
Resolution 8	Ratification of Prior Issue of Shares – Mining and Geology Consult (MGC)
Resolution 9	Ratification of Prior Issue of Shares – F2 Investments Pte Ltd
Resolution 10	Ratification of Prior Issue of Shares – Gloucester & Portman Capital Pte Ltd
Resolution 11	Ratification of Prior Issue of Shares – Pacific Regional Development Pty Ltd
Resolution 12	Ratification of Prior Issue of Shares – Mr Enrico Mattiaccio
Resolution 13	Ratification of Prior Issue of Shares – Taycol Nominees Pty Ltd

Please note : If you mark the abstain box for a particular Resolution, you are directing your proxy not to vote on that Resolution on a show of hands or on a poll and your votes will not be counted in computing the required majority on a poll.

Important for Resolutions 1 and 3 to 5

If you have not directed your proxy how to vote as your proxy in respect of Resolution 1 and the Chair is, or may by default be, appointed your proxy, you must mark the box below.

I/we direct the Chair to vote in accordance with his/her voting intentions (as set out above) on Resolutions 1 and 3 to 5 (except where I/we have indicated a different voting intention above) and expressly authorise that the Chair may exercise my/our proxy even though Resolutions 1 and 3 to 5 is connected directly or indirectly with the remuneration of a member of the Key Management Personnel.

If the Chair is, or may by default be, appointed your proxy and you do not mark this box and you have not directed the Chair how to vote, the Chair will not cast your votes on Resolution1 and your votes will not be counted in calculating the required majority if a poll is called on Resolutions 1 and 3 to 5.

Resolutions 1 and 3 to 5.	Resolutions 1 and 3 to 5.	Resolutions 1 and 3 to 5.
If two proxies are being appointed, the proportion of voting rights this proxy represents is:						%
Signature of Shareholder(s):
Individual or Shareholder 1	Shareholder 2Shareholder 3
Sole Director/Company Secretary	DirectorDirector/Company		Secretary
Date:
Contact name:	Contact ph (daytime):
E-mail address:	Consent for contact by e-mail:		YES		NO

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DRAKE RESOURCES LIMITED

ACN 108 560 069

Instructions for Completing ‘Appointment of Proxy’ Form

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( Appointing a proxy ): A Shareholder entitled to attend and cast a vote at the Meeting is entitled to appoint a proxy to attend and vote on their behalf at the Meeting. If a Shareholder is entitled to cast 2 or more votes at the Meeting, the Shareholder may appoint a second proxy to attend and vote on their behalf at the Meeting. However, where both proxies attend the Meeting, voting may only be exercised on a poll. The appointment of a second proxy must be done on a separate copy of the Proxy Form. A Shareholder who appoints 2 proxies may specify the proportion or number of votes each proxy is appointed to exercise. If a Shareholder appoints 2 proxies and the appointments do not specify the proportion or number of the Shareholder’s votes each proxy is appointed to exercise, each proxy may exercise one-half of the votes. Any fractions of votes resulting from the application of these principles will be disregarded. A duly appointed proxy need not be a Shareholder.

( Direction to vote ): A Shareholder may direct a proxy how to vote by marking one of the boxes opposite each item of business. The direction may specify the proportion or number of votes that the proxy may exercise by writing the percentage or number of Shares next to the box marked for the relevant item of business. Where a box is not marked the proxy may vote as they choose subject to the relevant laws. Where more than one box is marked on an item the vote will be invalid on that item.

( Signing instructions ):

• ( Individual ): Where the holding is in one name, the Shareholder must sign.

• ( Joint holding ): Where the holding is in more than one name, all of the Shareholders should sign.

• ( Power of attorney ): If you have not already provided the power of attorney with the registry, please attach a certified photocopy of the power of attorney to this Proxy Form when you return it.

• ( Companies ): Where the company has a sole director who is also the sole company secretary, that person must sign. Where the company (pursuant to Section 204A of the Corporations Act) does not have a company secretary, a sole director can also sign alone. Otherwise, a director jointly with either another director or a company secretary must sign. Please sign in the appropriate place to indicate the office held. In addition, if a representative of a company is appointed pursuant to Section 250D of the Corporations Act to attend the Meeting, the documentation evidencing such appointment should be produced prior to admission to the Meeting. A form of a certificate evidencing the appointment may be obtained from the Company.

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( Attending the Meeting ): Completion of a Proxy Form will not prevent individual Shareholders from attending the Meeting in person if they wish. Where a Shareholder completes and lodges a valid Proxy Form and attends the Meeting in person, then the proxy’s authority to speak and vote for that Shareholder is suspended while the Shareholder is present at the Meeting.

( Return of Proxy Form ): To vote by proxy, please complete and sign the enclosed Proxy Form and return by:

• (a) post to the Company, PO Box 52, West Perth, WA, 6872; or

• (b) facsimile to the Company on facsimile number +61 86141 3599,

so that it is received not less than 48 hours prior to commencement of the Meeting.

Proxy Forms received later than this time will be invalid.

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