STRIKE RESOURCES LIMITED — Capital/Financing Update 2012

Apr 4, 2012

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

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 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

Strike Resources Limited (SRK)

ABN

94 088 488 724

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1	+ Class of + securities issued or to be issued	Options
2	Number of + securities issued or to be issued (if known) or maximum number which may be issued	(a) 333,334 \$0.36 options, expiring on 23 November, 2016 333, 333 \$0.42 options, expiring on 23 (b) November, 2016 333, 333 \$0.56 options, expiring on 23 (c) November, 2016 (Total: 1,000,000)
3	Principal terms of the tsecurities (eg. if options, exercise price and expiry date; if partly paid *securities, the amount outstanding and due dates for payment; if 'convertible securities, the conversion price and dates for conversion)	Each option entitles the holder to subscribe for one fully-paid, ordinary share in Strike Resources Limited at the price specified in item 2 (above) on or before the expiry date specified in item 2 (above).

⁺ See chapter 19 for defined terms.

J.

$\frac{1}{2}$

$\mathbb{E}$

$\overline{a}$

4	Do the 'securities rank equally in all respects from the date of allotment with an existing class of quoted securities?	N/A. (The option are not quoted.)
	If the additional securities do not rank equally, please state: the date from which they do the extent which to they for the participate next dividend, (in the case of a trust, distribution) or interest payment the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
5	Issue price or consideration	Nil
		(a) Nil (b)
		Nil (c)
6	Purpose of the issue	Personnel incentive (a)
	(If issued as consideration for the acquisition of assets, clearly	(b) Personnel incentive
	identify those assets)	(c) Personnel incentive
7	Dates of entering *securities into uncertificated holdings or	05 April
	despatch of certificates
		Number	+Class
8	Number *class οf and all ASX + securities quoted on (including the securities in clause 2 if applicable)	142,534,268	Fully-paid ordinary shares (ASX Code: SRK)
9	Number class of and all securities not quoted on ASX (including the securities in clause 2 if applicable)	See Table A (below)

• See chapter 19 for defined terms.

Appendix 3B Page 2

$\mathbf{r}$

Table A - Reconciliation of Quoted and Unquoted Securities:

The Company currently has the following securities on issue:

	Quoted on ASX	Not Quoted on ASX	Total
Fully-paid, ordinary shares	142,534,268		142 534 268
\$2.878 (30 April 2012) employee options		33,000	33,000
\$2.50 (24 November 2012) director options		750,000	750,000
\$2.75 (24 November 2012) director options		750,000	750,000
\$3.25 (24 November 2012) director options		750,000	750.000
\$3.978 (2 December 2012) director options		3,500,000	3,500,000
\$2.878 (3 March 2013) employee options		250,000	250,000
\$2.75 (13 October 2013) employee options		250,000	250,000
\$0.36 (23 November 2016) employee options		1,750,002	1.750.002
\$0.42 (23 November 2016) employee options		1.749.999	1,749,999
\$0.56 (23 November 2016) employee options		1.749.999	1.749,999
Total	142,534,268	11,533,000*	154.067.268

*Note that a total of 1 million options (333,334 at \$0.36, 333,333 at \$0.42 and 333,333 at \$0.56 options, all expiring 23 November 2016) held by an outgoing member of personnel are expected to be cancelled on 12 April 2012.

$10^°$ Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

N/A

⁺ See chapter 19 for defined terms.

$\frac{1}{\sqrt{2}}$

j.

$\bar{z}$

$\overline{a}$

Part 2 - Bonus issue or pro rata issue

⁺ See chapter 19 for defined terms.

• 25 If the issue is contingent on *security holders' approval, the date of the meeting
• 26 Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled
• 27 If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders
• 28 Date rights trading will begin (if applicable)
• 29 Date rights trading will end (if applicable)
• 30 How do *security holders sell their entitlements in full through a broker?
• $31$ How do *security holders sell part of their entitlements through a broker and accept for the balance?
• $32²$ How do tsecurity holders dispose of their entitlements (except by sale through a broker)?
• 33 *Despatch date

N/A

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities (tick one)
• Securities described in Part 1 $(a)$
• All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

$(b)$

$N/A$

$N/A$

$N/A$

$N/A$

N/A

$N/A$

$N/A$

$N/A$

⁺ See chapter 19 for defined terms.

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

• 35 If the *securities are *equity securities, the names of the 20 largest holders of the additional *securities, and the number and percentage of additional *securities held by those holders
• 36

If the *securities are *equity securities, a distribution schedule of the additional *securities setting out the number of holders in the categories $1 - 1.000$ $1,001 - 5,000$ 5,001 - 10,000 10,001 - 100,000 100,001 and over

37

A copy of any trust deed for the additional 'securities

Entities that have ticked box 34(b)

38 Number of securities for which *quotation is sought	N/A
39 Class of 'securities for which quotation is sought	N/A
40 Do the 'securities rank equally in all respects from the date of allotment with an existing +class of quoted *securities? If the additional securities do not rank equally, please state: the date from which they do the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment • the extent to which they do not rank equally, other than in relation to the next dividend, distribution interest or	N/A

⁺ See chapter 19 for defined terms.

$\mathbb{E}$

Reason for request for quotation $\sqrt{\frac{N}{A}}$ 41 now Example: In the case of restricted securitie
end of restriction period

(if issued upon conversion another security, clearly identif
that other security)

,,, ш	IVA
эs,
of fy

42 Number and ⁺class of all *securities quoted on ASX (including the securities in clause $38)$

Number	*Class
N/A

⁺ See chapter 19 for defined terms.

Quotation agreement

• $\mathbf{1}$ ⁺Quotation of our additional ⁺securities is in ASX's absolute discretion. ASX may quote the ⁺securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
• The issue of the ⁺securities to be quoted complies with the law and is not for an illegal purpose.
• There is no reason why those ⁺securities should not be granted +quotation.
• An offer of the ⁺securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any ⁺securities to be quoted and that no-one has any right to return any ⁺securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the ⁺securities be quoted.
• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the ⁺securities to be quoted, it has been provided at the time that we request that the ⁺securities be quoted.
• If we are a trust, we warrant that no person has the right to return the ⁺securities to be quoted under section 1019B of the Corporations Act at the time that we request that the ⁺securities be quoted.
• We will indemnify ASX to the fullest extent permitted by law in respect of any 3 claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• $\overline{\mathbf{4}}$ We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before ⁺quotation of the ⁺securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Date: 05/04/2012

Print name: Stephen Gethin, Company Secretary

Sian here:

⁺ See chapter 19 for defined terms.