Sarama Resources Ltd. — Director's Dealing 2023

Jan 17, 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	Simon Jackson
Date of last notice	10 November2022

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) andIndirect (2)
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving riseto the relevant interest.	Bigjac Investments Pty Ltd –Mr Jackson is a Director
Date of change	16 January 2023
No. of securities held prior to change	1. Direct Interest
	423,499 ordinary shares
	180,000 unquoted options exercisable C$0.21each onor before 16 January2023
	166,667unquoted options exercisable at C$0.35eachon or before 14January2024
	183,333unquoted options exercisable at C$0.20eachon or before 19January2025
	2.Indirect Interest220,000 Chess Depositary Interests(CDIs)

+ See chapter 19 for defined terms.

Class	Ordinary Shares –Each Chess DepositaryInterest(CDI)representsa beneficial interest in 1 ordinary shareUnquoted Options
Number acquired	N/A
Number disposed	N/A (no disposal)1.180,000 unquoted options exercisable at C$0.21lapsed on expiry of option term
Value/ConsiderationNote: If consideration is non-cash, provide detailsand estimated valuation	N/A
No. of securities held after change	ordinary shares(1)423,499166,667unquoted options exercisable at C$0.35 each(1)on or before 14 January 2024183,333unquoted options exercisable at C$0.20 each(1)on or before 19 January 2025(2)220,000 CDIs
Nature of changeExample: on-market trade, off-market trade, exerciseof options, issue of securities under dividendreinvestment plan, participation in buy-back	Expiry 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
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation

+ See chapter 19 for defined terms.

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.

17 JANUARY, 2023

CORRECTION TO APPENDIX 3Y – CHANGE OF DIRECTOR'S INTEREST NOTICE

PERTH, AUSTRALIA / VANCOUVER, CANADA. Sarama Resources Ltd. ("Sarama" or the "Company") (ASX:SRR, TSX-V:SWA) advises that in preparation of filing an updated Appendix 3Y – Change of Director's Interest Notice for Andrew Dinning, Managing Director, the Company has been made aware there was an error in the number of Ordinary Shares of which Mr Dinning has a relevant interest as announced on 29 June 2022. The number of ordinary shares should have been 1,323,333 and has been corrected in the attached revised Appendix 3Y – Change of Directors Interest Notice.

For further information on the Company's activities, please contact:

Andrew Dinning (Chief Executive Officer & Managing Director) Lui Evangelista (Chief Financial Officer & Company Secretary) e: info@saramaresources.com t: +61 8 9363 7600

This announcement has been authorised by the Company Secretary of Sarama Resources. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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	Andrew Dinning
Date of last notice	29 June 2022

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	1.Direct
	2.Indirect
Nature of indirect interest	AD Capital Investment Trust
(including registered holder)	Ordinary Shares – correction to holding as reported
Note: Provide details of the circumstancesgiving rise to the relevant interest.	on 29 June 2022 – overstatement of 125,000 ordinary
	shares
Date of change	1.16 January 2023
	2.29 June 2022 Correction

+ See chapter 19 for defined terms.

No. of securities held prior tochange	1.Direct Interest•3,119,942 ordinary shares•1,166,666 unquoted options exercisable at C$0.21expiring on 16 January 2023•916,668 unquoted options exercisable at C$0.35each on or before 14 January 2024•766,666 unquoted options exercisable at C$0.20each on or before 19 January 20252.Indirect Interest – AD Capital Investment Trust•1,448,333 ordinary shares•125,000 CDIs3.Indirect Interest– BNP Paribas Nominees Pty LtdHub24 Custodial Serv Ltd (Mr Dinning isthe beneficiary of this shareholding as part of hissuper fund)•385,243 Chess Depositary Interests ("CDIs")
Class	•Ordinary Shares –Each Chess DepositaryInterest(CDI) represents a beneficial interest in 1 ordinaryshare•
Number acquired	Unquoted OptionsN/A
Number disposed	N/A (no disposal)1.1,166,666 unquoted options exercisable atC$0.21lapsed on expiry of option term2.125,000 ordinary shares – correction to holding asreported on 29 June 2022
Value/ConsiderationNote: If consideration is non-cash, providedetails and estimated valuation	N/A
No.ofsecuritiesheldafterchange	1.Direct Interest•3,119,942 ordinary shares•916,668 unquoted options exercisable at C$0.35each on or before 14 January 2024•766,666 unquoted options exercisable at C$0.20each on or before 19 January 2025
	2.Indirect Interest – AD Capital Investment Trust•1,323,333 ordinary shares•125,000 CDIs
	3.Indirect Interest – BNP Paribas Nominees Pty LtdHub24 Custodial Serv Ltd •385,243 CDIs

+ See chapter 19 for defined terms.

Nature of change
Example: on-market trade, off-market trade,
exercise of options, issue of securities under
dividend reinvestment plan, participation in

buy-back

1. Expiry of Options

2. Correction to holding as reported on 29 June 2022

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
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.