Sarama Resources Ltd. — Share Issue/Capital Change 2023

Apr 20, 2023

Announcement Summary

Entity name

SARAMA RESOURCES LTD

Date of this announcement

Thursday April 20, 2023

The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

Total number of +securities to be issued/transferred

ASX +securitycode	Security description	Total number of+securities to beissued/transferred	Issue date
New class - codeto be confirmed	OPTION EXPIRING 20-APR-2026 EX $0.16	3,793,333	20/04/2023

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) 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

20/4/2023

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

does not have an existing ASX security code ("new class")

Equity Securities

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

ASX +security code		+Security description
New class - code to be confirmed		OPTION EXPIRING 20-APR-2026 EX $0.16
+Security type	ISIN code
Options
	Date the +securities the subject of this notification were issued
20/4/2023
Yes	Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes	Were any of the +securities issued to +key management personnel (KMP) or an +associate?
	Provide details of the KMP or +associates being issued +securities.
Name of KMP	Name of registered holder	Number of +securities
Paul Schmiede	Paul Schmiede	1,070,000
Luigi Evangelista	Luigi Evangelista	1,070,000
John (Jack) Hamilton	John Hamilton	1,070,000

+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.16000000	20/4/2026

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

SRRAB : ORDINARY FULLY PAID

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02601239-6A1123443?access\_token=8 3ff96335c2d45a094df02a206a39ff4

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

Issue details

Number of +securities 3,793,333

Equity Securities

Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities ofthe 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 oneapplication 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	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
SRRAL : OPTION EXPIRING 13-APR-2026 EX $0.15	6,875,000
New class - code to be confirmed : OPTION EXPIRING 20-APR-2026 EX $0.16	3,793,333

Equity Securities

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? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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