UNION STAR METALS LTD — Share Issue/Capital Change 2021

Oct 21, 2021

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

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Announcement Summary

Entity name

PVW RESOURCES LIMITED

Date of this announcement

Thursday October 21, 2021

The +securities the subject of this notification are: Other

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 Unlisted Options Expiry 21 April 2023 3,000,000 21/10/2021 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

PVW RESOURCES 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

ACN

Registration number

124541466

1.3 ASX issuer code

PVW

1.4 The announcement is

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New announcement

1.5 Date of this announcement

21/10/2021

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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:

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Other

Please specify

The Company has entered into a consulting agreement which includes the issue of unlisted options.

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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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 ASX +security code +Security description New class - code to be confirmed Unlisted Options Expiry 21 April 2023 +Security type ISIN code Options Date the +securities the subject of this notification were issued 21/10/2021 Will all the +securities issued in this class rank equally in all respects from their issue date? No If some of the issued +securities do not rank equally: Is the actual date from which the +securities will rank equally (non-ranking end date) known? No Provide the estimated non-ranking end period The Options can be exercised 18 months from the date of issue Please state the extent to which the +securities do not rank equally: In relation to the next dividend, distribution or interest payment; or For any other reason Unlisted Options exercisable within 18 month of the date of issue 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. The options are issued on standard terms. Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.30000000 21/4/2023 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option Other

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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Description

Unlisted Options Exercisable at $0.30 expiry 21 April 2023

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

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

The Company has entered into an arms-length consulting agreement and the unlisted options form part of the remuneration agreed between the parties.

Issue details

Number of +securities

3,000,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

The Company has entered into an arms-length consulting agreement and the unlisted options form part of the remuneration agreed between the parties

Purpose of the issue

To pay for services rendered

Additional Details

The Company has entered into an arms-length consulting agreement

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

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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
PVW : ORDINARY FULLY PAID	69,271,875
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
PVWAE : PERFORMANCE RIGHTS TRANCHE A	850,000
PVWAF : PERFORMANCE RIGHTS TRANCHE B	850,000
PVWAB : ORDINARY FULLY PAID RESTRICTED	3,313,538
PVWAC : PERFORMANCE RIGHTS RESTRICTED	3,200,000
PVWAD : OPTION EXPIRING 29-JAN-2024 RESTRICTED	2,400,000
New class - code to be confirmed : Unlisted Options Expiry 21 April 2023	3,000,000

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

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

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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? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

3,000,000 Unlisted Options

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

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