SUNSHINE METALS LIMITED — Director's Dealing 2014

Sep 29, 2014

Appendix 3Y Change of Director’s Interest Notice

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	PELICAN RESOURCES LIMITED
ABN	12 063 388 821

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	John PALERMO
Date of last notice	14 April 2014

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	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Seashells Resort Pty Ltd (Director)Finebase Holdings Pty Ltd (Director)
Date of change	25 September 2014
No. of securities held prior to change	20,822,928 Ordinary fully paid21,754,400 Options($0.04 30/06/14)
Class	Ordinary full paidOptions exercisable at $0.04 by 30/6/14
Number acquired	21,754,400 Options ($0.02 30/06/17)
Number disposed	21,754,400 Options ($0.04 30/06/14)Expired
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$2,175.44

• See chapter 19 for defined terms.

Appendix 3Y Page 1

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change 20,822,928 Ordinary fully paid 21,754,400 Options ($0.02 30/06/17) Nature of change Issue of securities pursuant to Prospectus issue of securities under dividend reinvestment plan, participation in Example: on-market trade, off-market trade, exercise of options, dated 26 August 2014. buy-back

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.

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----- Start of picture text ----- Detail of contract N/ANature of interestName of registered holder(if issued securities)Date of changeNo. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changedInterest acquiredInterest disposedValue/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuationInterest after change----- End of picture text -----

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed N/A above traded during a[+] closed period where 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.

Appendix 3Y Page 2

01/01/2011