VANADIUM RESOURCES LIMITED — Share Issue/Capital Change 2021

Sep 26, 2021

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

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Announcement Summary

Entity name

VANADIUM RESOURCES LIMITED

Date of this announcement

Monday September 27, 2021

The +securities the subject of this notification are:

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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	9,625,000 Class A Performance Rights	9,625,000	27/09/2021
to be confirmed
New class - code	5,000,000 Class B Performance Rights	5,000,000	27/09/2021
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

VANADIUM 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

ABN

Registration number

47618307887

1.3 ASX issuer code

VR8

1.4 The announcement is

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New announcement

1.5 Date of this announcement

27/9/2021

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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

9,625,000 Class A Performance Rights 5,000,000 Class B Performance Rights

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 9,625,000 Class A Performance Rights +Security type ISIN code Other Date the +securities the subject of this notification were issued 27/9/2021 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. Class A and Class B Performance rights issued per shareholder approval received at general meeting 1.09.2021 https://www.asx.com.au/asxpdf/20210803/pdf/44yz75kxsbm3rg.pdf

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 Class A and Class B Performance Rights are issued to Related Party's and Employees of the entity as incentives. They are subject to vesting conditions that have not been met. If the vesting conditions are met a 3B will be lodged at the relevant time.

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

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Issue details

Number of +securities

9,625,000

Were the +securities issued for a cash consideration? No

Please describe the consideration being provided for the +securities

Refer to terms of the issue in the Company Notice of General Meeting https://www.asx.com.au/asxpdf/20210803/pdf/44yz 75kxsbm3rg.pdf

Purpose of the issue Other

Additional Details Purpose of the issue as defined https://www.asx.com.au/asxpdf/20210803/pdf/44yz75kxsbm3rg.pdf

New +securities

ASX +security code +Security description New class - code to be confirmed 5,000,000 Class B Performance Rights +Security type ISIN code Other Date the +securities the subject of this notification were issued 27/9/2021 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Class A and Class B Performance rights issued per shareholder approval received at general meeting 1.09.2021 https://www.asx.com.au/asxpdf/20210803/pdf/44yz75kxsbm3rg.pdf

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

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

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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

Class A and Class B Performance Rights are issued to Related Party's and Employees of the entity as incentives. They are subject to vesting conditions that have not been met. If the vesting conditions are met a 3B will be lodged at the relevant time.

Issue details

Number of +securities

5,000,000

Were the +securities issued for a cash consideration?

No Please describe the consideration being provided for the +securities Refer to terms of the issue in the Company Notice of General Meeting https://www.asx.com.au/asxpdf/20210803/pdf/44yz 75kxsbm3rg.pdf

Purpose of the issue Other Additional Details Purpose of the issue as defined https://www.asx.com.au/asxpdf/20210803/pdf/44yz75kxsbm3rg.pdf

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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
VR8	: ORDINARY FULLY PAID	418,444,105

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
VR8AF : OPTION EXPIRING 01-DEC-2021 EX 5.3C	10,000,000
VR8AE : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	41,580,001
New class - code to be confirmed : 9,625,000 Class A Performance Rights	9,625,000
New class - code to be confirmed : 5,000,000 Class B Performance Rights	5,000,000

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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? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

1/9/2021

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