RINCON RESOURCES LIMITED — Capital/Financing Update 2022

Jun 29, 2022

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

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Announcement Summary

Entity name

RINCON RESOURCES LIMITED

Date of this announcement

Thursday June 30, 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 OPTION EXPIRING 30-JUN-2025 EX $0.20 2,500,000 30/06/2022 to be confirmed

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

RINCON 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

628003538

1.3 ASX issuer code

RCR

1.4 The announcement is

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New announcement

1.5 Date of this announcement

30/6/2022

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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

Issue of Performance Options with an exercise price of $0.20 expiring 30 June 2025

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

New +securities
ASX +security code New class - code to be confirmed	+Security description OPTION EXPIRING 30-JUN-2025 EX $0.20
+Security type	ISIN code
Options
Date the +securities the subject of this notification were issued
30/6/2022
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/20220520/pdf/4595nph013f0cw.pdf

Options Details
+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.20000000	30/6/2025
Details of the existing class of +security that will be issued upon exercise or conversion of this new class of
company option
Other
Description
RCR : ORDINARY FULLY PAID
Any other information the entity	wishes to provide about the +securities the subject of this notification

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

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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

An Appendix 3B was issued 29 March 2022, however the terms of the options as described in that Appendix 3B are varied due to the date of issue.

Issue details

Number of +securities

2,500,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Investor relations services

Purpose of the issue

To pay for services rendered

Additional Details

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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
RCR : ORDINARY FULLY PAID	42,278,546
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
RCRAI : ORDINARY FULLY PAID RESTRICTED	9,058,210
RCRAT : OPTION EXPIRING 30-MAR-2025 EX $0.20	2,500,000
RCRAJ : PERFORMANCE RIGHTS CLASS A	350,000
RCRAK : PERFORMANCE RIGHTS CLASS B	700,000
RCRAL : PERFORMANCE RIGHTS CLASS C	950,000
RCRAM : PERFORMANCE RIGHTS CLASS D	700,000
New class - code to be confirmed : OPTION EXPIRING 30-JUN-2025 EX $0.20	2,500,000

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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? 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

22/6/2022

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