SUNSHINE METALS LIMITED — Share Issue/Capital Change 2021

Sep 30, 2021

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

SUNSHINE GOLD LIMITED

Date of this announcement

Friday October 01, 2021

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

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	OPTION EXPIRING 31-07-2024 EX $0.07	1,000,000	01/10/2021
to be confirmed

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

SUNSHINE GOLD LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

12063388821

1.3 ASX issuer code

SHN

1.4 The announcement is

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New announcement

1.5 Date of this announcement

1/10/2021

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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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:

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

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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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

New +securities issued under an +employee incentive scheme ASX +security code +Security description New class - code to be confirmed OPTION EXPIRING 31-07-2024 EX $0.07 +Security type ISIN code Options Date the +securities the subject of this notification were issued 1/10/2021 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? No Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.07000000 31/7/2024 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option Other Description Option Expiring 31-07-2024 Ex $0.07 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/2924-02320368--api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02320368-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02320368--gateway/ASX/asx-research/1.0/file/2924-02320368-gateway/ASX/asx-research/1.0/file/2924-02320368--research/1.0/file/2924-02320368-research/1.0/file/2924-02320368--02320368-02320368--6A1011698?access_token=8

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/2924-02320368--api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02320368-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02320368--gateway/ASX/asx-research/1.0/file/2924-02320368-gateway/ASX/asx-research/1.0/file/2924-02320368--research/1.0/file/2924-02320368-research/1.0/file/2924-02320368--02320368-02320368--6A1011698?access_token=8 3ff96335c2d45a094df02a206a39ff4

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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

None

Issue details

Number of +securities

1,000,000

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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)

	Total number of
ASX +security code and description	+securities on issue
SHN : ORDINARY FULLY PAID	460,822,730

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
SHNAA : ORDINARY FULLY PAID RESTRICTED	88,000,000
SHNAB : OPTION EXPIRING 30-SEP-2025 RESTRICTED	71,000,000
SHNAC : PERFORMANCE RIGHTS RESTRICTED	17,000,000
SHNAD : OPTION EXPIRING 02-NOV-2025 EX $0.03	1,000,000
New class - code to be confirmed : OPTION EXPIRING 31-07-2024 EX $0.07	1,000,000

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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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