VANADIUM RESOURCES LIMITED — Share Issue/Capital Change 2025

Dec 3, 2025

Appendix 3G - 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

Thursday December 04, 2025

The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

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	3,499,950	03/12/2025
to be confirmed

Refer to next page for full details of the announcement

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Appendix 3G - 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 Registration number

1.2 Registered number type Registration number ACN 618307887

1.3 ASX issuer code

VR8

1.4 The announcement is

New announcement

1.5 Date of this announcement

4/12/2025

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Previous Appendix 3B details:

Announcement Date and	Announcement Title	Selected Appendix 3B to submit quotation
Time		request
12-Feb-2025 10:10	New - Proposed issue of securities -	A placement or other type of issue
	VR8

2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B?

No

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Part 3A - number and type of +securities the subject of this notification (existing class or new class) where issue has previously been

notified to ASX in an Appendix 3B

Placement Details

ASX +security code and description

new unquoted class of security

Date the +securities the subject of this notification were issued

3/12/2025

Any other information the entity wishes to provide about the +securities the subject of this notification Remaining options that we annouced as part of the Convertible Loan Offer in February 2025. Particpation by Directors required shareholder approval. Refer NOM https://announcements.asx.com.au/asxpdf/20251028/pdf/06r4zcjqbk736b.pdf

Issue details

Number of +securities

3,499,950

Were the +securities issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

23,333 options issued for each convertible note applied for as previoulsy annouced

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Appendix 3G - 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)

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ASX +security code +Security description
New class - code to be confirmed Unlisted Options
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ASX +security code New class - code to be confirmed	+Security description Unlisted Options
+Security type	ISIN code
Options
Date the +securities the subject of this notification were issued
3/12/2025
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.

https://announcements.asx.com.au/asxpdf/20251028/pdf/06r4zcjqbk736b.pdf

Options Details
+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.05000000	3/12/2028
Details of the existing class of +security that will be issued upon exercise or conversion of this new class of
company option

VR8 : ORDINARY FULLY PAID

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

Issue details

Number of +securities

3,499,950

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this notification, the +securities of the entity will comprise:

The figures in parts 4.1 and 4.2 below are automatically generated and may not reflect the entity's current issued capital if other Appendix 2A, Appendix 3G or Appendix 3H forms are currently with ASX for processing.

4.1 Quoted +securities (Total number of each +class of +securities issued and quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
VR8 : ORDINARY FULLY PAID	624,716,705
VR8O : OPTION EXPIRING 01-AUG-2028	35,451,608

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	11,056,404
VR8AH : CLASS B PERFORMANCE RIGHTS	1,621,605
VR8AK : OPTION EXPIRING 18-OCT-2026 EX $0.15	3,000,000
VR8AJ : PERFORMANCE RIGHTS	23,159,654
New class - code to be confirmed : Unlisted Options	3,499,950

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