Sarama Resources Ltd. — Capital/Financing Update 2023

Apr 12, 2023

Announcement Summary

Entity name

SARAMA RESOURCES LTD

Announcement Type

New announcement

Date of this announcement

Thursday April 13, 2023

The +securities to be quoted are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B

Total number of +securities to be quoted

ASX +securitycode	Security description	Number of +securities tobe quoted	Issue date
SRR	CHESS DEPOSITARY INTERESTS 1:1	13,750,000	13/04/2023

Refer to next page for full details of the announcement

Part 1 - Entity and announcement details

1.1 Name of entity

SARAMA RESOURCES LTD

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type ARBN

Registration number 143964649

1.3 ASX issuer code SRR

1.4 The announcement is

New announcement

1.5 Date of this announcement

13/4/2023

Part 2 - Type of Issue

2.1 The +securities to be quoted are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B

Previous Appendix 3B details:

Announcement Date andTime	Announcement Title	Selected Appendix 3B to submit quotationrequest
03-Apr-2023 10:10	New - Proposed issue of securities -SRR	A placement or other type of issue

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

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

Issue of unlisted options, having an exercise price of $0.15 and an expiry date of 13 April 2026; being 36 months from date of issue.

Tranche 2 of the Placement consists of a further 6.25 million new CDIs (and 3.125 million attaching Placement Options) which will be subject to shareholder approval at a General Meeting in June 2023.

Part 3A - number and type of +securities to be quoted where issue has previously been notified to ASX in an Appendix 3B

Placement Details

ASX +security code and description

SRR : CHESS DEPOSITARY INTERESTS 1:1

Issue date

13/4/2023

Distribution Schedule

Provide a distribution schedule for the new +securities according to the categories set out in the left hand column including the number of recipients and the total percentage of the new +securities held by the recipients in each category.

Number of +securities held	Number of holders	Total percentage of +securities heldFor example, to enter a value of 50%please input as 50.00
1 - 1,000		%
1,001 - 5,000		%
5,001 - 10,000		%
10,001 - 100,000		%
100,001 and over		%

Issue details

Number of +securities to be quoted13,750,000
Are the +securities being issued for a cash consideration?Yes
In what currency is the cash consideration being paid?	What is the issue price per +security?
AUD - Australian Dollar	AUD 0.10000000
Any other information the entity wishes to provide about the +securities to be quoted

Part 4 - Issued capital following quotation

Following the quotation of the +securities the subject of this application, the issued capital 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 on ASX following the +quotation of the +securities subject of this application)

ASX +security code and description	Total number of+securities on issue
SRR : CHESS DEPOSITARY INTERESTS 1:1	51,044,300

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

ASX +security code and description	Total number of+securities on issue
SRRAG : WARRANTS EXPIRING 23-MAY-2024 EX CAD $0.60	833,333
SRRAA : OPTION EXPIRING 22-APR-2025 RESTRICTED	2,500,000
SRRAD : OPTION EXPIRING 23-JUN-2023 EX CAD $0.24	500,000
SRRAE : OPTION EXPIRING 14-JAN-2024 EX CAD $0.35	3,158,336
SRRAF : WARRANTS EXPIRING 23-MAY-2024 EX CAD $0.30	833,333
SRRAI : OPTION EXPIRING 19-JAN-2025 EX CAD $0.20	2,721,665
SRRAB : ORDINARY FULLY PAID	100,627,869
SRRAH : WARRANTS EXPIRING 28-JUL-2024 EX CAD $0.28	4,863,517