Sarama Resources Ltd. — Share Issue/Capital Change 2023

Dec 21, 2023

Announcement Summary

Entity name

SARAMA RESOURCES LTD

Date of this announcement

Friday December 22, 2023

The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Total number of +securities to be issued/transferred

ASX +securitycode	Security description	Total number of+securities to beissued/transferred	Issue date
SRRAB	ORDINARY FULLY PAID	6,000,000	22/12/2023

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) give notice of the issue, conversion or payment up of the following unquoted +securities.

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

22/12/2023

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Previous Appendix 3B details:

Announcement Date andTime	Announcement Title	Selected Appendix 3B to submit quotationrequest
18-Dec-2023 10:06	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

Equity Securities

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

The issue of 17,500,000 CDIs on 22 December 2023 The issue of 2,500,000 CDIs, to a director, Andrew Dinning, which are subject to shareholder approval at a general meeting to be held in February 2024.

Part 3A - number and type of +securities the subject of this notification (existing class or new class) where issue has previously been

notified to ASX in an Appendix 3B

Placement Details

ASX +security code and description SRRAB : ORDINARY FULLY PAID

Date the +securities the subject of this notification were issued 22/12/2023

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

Issue details

Number of +securities6,000,000
Were the +securities issued for a cash consideration?Yes
In what currency was the cash consideration beingpaid?	What was the issue price per +security?
AUD - Australian Dollar	AUD 0.02000000

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) ASX +security code and description Total number of +securities on issue SRR : CHESS DEPOSITARY INTERESTS 1:1 56,929,194

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
SRRAN : OPTION EXPIRING 14-JUN-2026 EX $0.15	1,312,180
SRRAG : WARRANTS EXPIRING 23-MAY-2024 EX CAD $0.60	833,333
SRRAA : OPTION EXPIRING 22-APR-2025 RESTRICTED	2,500,000
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
SRRAO : OPTION EXPIRING 21-JUN-2026 EX $0.15	1,812,820
SRRAI : OPTION EXPIRING 19-JAN-2025 EX CAD $0.20	2,721,665
SRRAB : ORDINARY FULLY PAID	106,992,975
SRRAH : WARRANTS EXPIRING 28-JUL-2024 EX CAD $0.28	4,863,517
SRRAM : OPTION EXPIRING 20-APR-2026 EX $0.16	6,809,999
SRRAL : OPTION EXPIRING 13-APR-2026 EX $0.15	6,875,000

Equity Securities