SUNSHINE METALS LIMITED — Director's Dealing 2017

Apr 26, 2017

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	Antonio Alessio Torresan
Date of last notice	13 August 2015

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.	Mainview Holdings Pty Ltd – Sole Director andSole ShareholderMonslit Pty Ltd –Sole Director, Sole Shareholder and BeneficiaryMonslit Pty Ltd – SoleDirector, Sole Shareholder and Beneficiary
Date of change	24 April 2017
No. of securities held prior to change42,843,981 Fully Paid Ordinary Shares8,357,666 Options exercisable at $0.02expiring 30 June 1710,500,000 Options exercisable at $0.02expiring 30 Jun 19	Mainview Holdings Pty Ltd
13,350,000 Fully Paid Ordinary Shares683,334 Options exercisable at $0.02expiring 30 June 17	Monslit Pty Ltd
3,000,000 Fully paid ordinary shares366,667 Options exercisable at $0.02expiring 30 June 1718,235,896 Options exercisable at $0.01expiring 30 Jun 19	Monslit Pty Ltd

+ See chapter 19 for defined terms.

Class	Fully Paid Ordinary Shares
Number acquired	45,843,981
Number disposed	45,843,981
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	$366,752
No. of securities held after change8,357,666 Options exercisable at $0.02expiring 30 June 1710,500,000 Options exercisable at $0.02	Mainview Holdings Pty Ltd
expiring 30 Jun 1959,193,981 Fully Paid Ordinary Shares683,334 Options exercisable at $0.02expiring 30 June 17	Monslit Pty Ltd
366,667 Options exercisable at $0.02expiring 30 June 1718,235,896 Options exercisable at $0.01expiring 30 Jun 19	Monslit Pty Ltd
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Off-market transactions

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	Not applicable
Nature of interest	Not applicable
Name of registered holder(if issued securities)	Not applicable
Date of change	Not applicable
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed	Not applicable
Interest acquired	Not applicable
Interest disposed	Not applicable

+ See chapter 19 for defined terms.

Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation	Not applicable
Interest after change	Not applicable

Part 3 – +Closed period

Were the interests in the securities or contracts detailed	Not applicable
above traded during a +closed period where prior written
clearance was required?
If so, was prior written clearance provided to allow the trade	Not applicable
to proceed during this period?
If prior written clearance was provided, on what date was this	Not applicable
provided?

+ See chapter 19 for defined terms.