TURNSTONE RESOURCES LTD — Capital/Financing Update 2023

Feb 9, 2023

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

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Announcement Summary

Entity name

SOUTH HARZ POTASH LTD

Date of this announcement

Friday February 10, 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

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
SHPAY	OPTION EXPIRING 30-SEP-2027 EX $0.12	200,000	10/02/2023

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

SOUTH HARZ POTASH 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

ACN

Registration number

156414852

1.3 ASX issuer code

SHP

1.4 The announcement is

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New announcement

1.5 Date of this announcement

10/2/2023

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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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has an existing ASX security code ("existing class")

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Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to

ASX in an Appendix 3B

Additional +securities in an existing class issued under an +employee incentive scheme

ASX +security code and description

SHPAY : OPTION EXPIRING 30-SEP-2027 EX $0.12

Date the +securities the subject of this notification were issued

10/2/2023

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? No

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://southharzpotash.com/

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

Issue details

Number of +securities

200,000

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

Part 4 - +Securities on issue

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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
SHP : ORDINARY FULLY PAID	586,123,541
SHPO : OPTION EXPIRING 31-JUL-2023	46,175,789

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
SHPAA : OPTION EXPIRING 23-NOV-2025 EX $0.09	3,366,667
SHPAG : OPTION EXPIRING 31-JUL-2023 EX 7.5C	3,100,000
SHPAF : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	20,375,999
SHPAS : OPTION EXPIRING 30-MAR-2027 EX $0.1606	2,382,000
SHPAH : OPTION EXPIRING 02-DEC-2024 EX $0.08	3,500,000
SHPAI : OPTION EXPIRING 02-DEC-2024 EX $0.12	3,500,000
SHPAK : OPTION EXPIRING 27-MAY-2026 EX $0.203	4,606,605
SHPAQ : OPTION EXPIRING 17-DEC-2024 EX $0.18	2,192,084
SHPAR : OPTION EXPIRING 17-DEC-2024 EX $0.24	2,192,084
SHPAP : OPTION EXPIRING 05-AUG-2026 EX $0.1511	192,069
SHPAW : OPTION EXPIRING 31-OCT-2027 EX $0.109	2,000,000
SHPAX : OPTION EXPIRING 31-OCT-2027 EX $0.136	2,000,000

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SHPAY : OPTION EXPIRING	30-SEP-2027	EX $0.12	2,818,000
SHPAZ : OPTION EXPIRING	10-NOV-2027	EX $0.15	4,623,000
SHPAT : OPTION EXPIRING	17-OCT-2026	EX $0.123	1,000,000
SHPAU : OPTION EXPIRING	31-OCT-2027	EX $0.055	2,000,000
SHPAV : OPTION EXPIRING	31-OCT-2027	EX $0.082	2,000,000

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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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