Sarama Resources Ltd. — Director's Dealing 2023

Jun 25, 2023

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	Sarama Resources Ltd
ARBN	143 964 649

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	Steven Zaninovich
Date of last notice	8 June 2023

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 (1) and Indirect (2),(3)
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving riseto the relevant interest.	Stella Trust –Mr Zaninovich is a Director and a(2)beneficiary of the Trust
	Miss Isabella Zaninovich –Mr Zaninovich is a
	(3)related party to Miss Zaninovich
Date of change	23 June 2023
No. of securities held prior to change	250,000 unquoted options exercisable at C$0.24(1)each on or before 23 June 2023
	150,000 unquoted options exercisableat C$0.35(1)each on or before 14 January 2024
	120,000 unquoted options exercisable at C$0.20(1)each on or before 19 January 2025
	300,000 unquoted options exercisable at A$0.16(1)
	each on or before 20 April2026
	(2)152,381ordinary shares
	(3)50,000 Chess Depositary Interests(CDIs)

+ See chapter 19 for defined terms.

ClassNumber acquired	Ordinary Shares –Each Chess DepositaryInterest(CDI) represents a beneficial interest in 1ordinary shareUnquoted Options
Number disposed	250,000Unquoted Options
Value/ConsiderationNote: If consideration is non-cash, provide detailsand estimated valuation	Nil
No. of securities held after change	150,000 unquoted options exercisable at C$0.35(1)each on or before 14 January 2024120,000 unquoted options exercisable at C$0.20(1)each on or before 19 January 2025300,000 unquoted options exercisable at A$0.16(1)each on or before 20 April2026(2)152,381ordinary shares(3)50,000CDIs
Nature of changeExample: on-market trade, off-market trade, exerciseof options, issue of securities under dividendreinvestment plan, participation in buy-back	Expiration of Options

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	N/A
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to which
interest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed
Interest acquired
Interest disposed

+ See chapter 19 for defined terms.

Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation
Interest after change

Part 3 – +Closed period

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

+ See chapter 19 for defined terms.