REDSTONE RESOURCES LIMITED — Capital/Financing Update 2022

Dec 22, 2022

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

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Announcement Summary

Entity name

REDSTONE RESOURCES LIMITED

Date of this announcement

Friday December 23, 2022

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 Unquoted options exercisable at $0.0164 on or 17,000,000 23/12/2022 to be confirmed before 23 November 2027

Refer to next page for full details of the announcement

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

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Part 1 - Entity and announcement details

1.1 Name of entity

REDSTONE 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

ABN

Registration number

42090169154

1.3 ASX issuer code

RDS

1.4 The announcement is

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New announcement

1.5 Date of this announcement

23/12/2022

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

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

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Other

Please specify

Unquoted options issued to directors, employee and consultant pursuant to shareholder approval.

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

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

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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

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----- Start of picture text ----- New +securitiesASX +security code +Security descriptionNew class - code to be confirmed Unquoted options exercisable at $0.0164 on or before 23November 2027+Security type ISIN codeOptionsDate the +securities the subject of this notification were issued23/12/2022Will all the +securities issued in this class rank equally in all respects from their issue date?YesHave you received confirmation from ASX that the terms of the +securities are appropriate and equitable underlisting rule 6.1?YesPlease provide a URL link for a document lodged with ASX setting out the material terms of the +securities beingissued.Notice of 2022 AGMhttps://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02590673-6A1119048?access_token=83ff96335c2d45a094df02a206a39ff4Options Details+Security currency Exercise price Expiry dateAUD - Australian Dollar AUD 0.01640000 23/11/2027Details of the existing class of +security that will be issued upon exercise or conversion of this new class ofcompany optionOtherDescriptionUnquoted options exercisable at $0.0164 on or before 23 November 2027----- End of picture text -----

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

Please provide any further information needed to understand the circumstances in which you are notifying the

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

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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

N/A

Issue details

Number of +securities

17,000,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Nil consideration. The Options are issued as an incentive for technical, management and corporate services provided to the Company.

Purpose of the issue

Other

Additional Details

The Options are issued as an incentive for technical, management and corporate services provided.

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

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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
RDS : ORDINARY FULLY PAID	736,832,396

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
RDSAC : OPTION EXPIRING 20-NOV-2025 EX $0.0204	15,000,000
RDSAD : OPTION EXPIRING 23-JAN-2027 EX $0.0188	32,000,000
New class - code to be confirmed : Unquoted options exercisable at $0.0164 on or before 23	17,000,000
November 2027

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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? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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