VANADIUM RESOURCES LIMITED — Share Issue/Capital Change 2023

Oct 17, 2023

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

Wednesday October 18, 2023

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	Unlisted Options	3,000,000	18/10/2023
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

18/10/2023

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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:

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Other

Please specify

As announced on Appendix 3B 02/10/2023

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 ASX +security code +Security description New class - code to be confirmed Unlisted Options +Security type ISIN code Options Date the +securities the subject of this notification were issued 18/10/2023 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes 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. Refer to Appendix 3B - options issued under investor relations mandate. https://announcements.asx.com.au/asxpdf/20231 002/pdf/05vksm7j3n1lp6.pdf

Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.15000000 18/10/2026 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option Other Description One option will convert to one fully paid ordinary share, subject to 10-day VWAP of $0.15 prior to expiry

Any other information the entity wishes to provide about the +securities the subject of this notification Refer to Appendix 3B - options issued under investor relations mandate.

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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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 N/A Issue details Number of +securities 3,000,000 Were the +securities issued for a cash consideration? Yes In what currency was the cash consideration being What was the issue price per +security? paid? AUD - Australian Dollar AUD 0.00001000 Purpose of the issue To pay for services rendered Additional Details

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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	538,176,174
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
VR8AG : CLASS A PERFORMANCE RIGHTS	1,325,000
VR8AH : CLASS B PERFORMANCE RIGHTS	1,000,000
VR8AJ : PERFORMANCE RIGHTS	18,000,000
New class - code to be confirmed : Unlisted Options	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

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)? N/A

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