WESTERN MINES GROUP LTD — Share Issue/Capital Change 2021

Nov 11, 2021

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

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Announcement Summary

Entity name

WESTERN MINES GROUP LTD

Date of this announcement

Thursday November 11, 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	Options Expiring 11-Nov-2024 EX $0.30	700,000	11/11/2021
to be confirmed

Refer to next page for full details of the announcement

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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

WESTERN MINES GROUP 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

640738834

1.3 ASX issuer code

WMG

1.4 The announcement is

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New announcement

1.5 Date of this announcement

11/11/2021

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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

700,000 Unlisted Options as announced on 08/10/2021 in Appendix 3B.

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

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New +securities
ASX +security code +Security description
New class - code to be confirmed Options Expiring 11-Nov-2024 EX $0.30
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ASX +security code New class - code to be confirmed	+Security description Options Expiring 11-Nov-2024 EX $0.30
+Security type	ISIN code
Options
Date the +securities the subject of this notification were issued
11/11/2021
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

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Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being
issued.
Options Details
+Security currency Exercise price Expiry date
AUD - Australian Dollar AUD 0.30000000 11/11/2024
Details of the existing class of +security that will be issued upon exercise or conversion of this new class of
company option
Other
Description
WMG Ordinary Fully Paid Shares
Any other information the entity wishes to provide about the +securities the subject of this notification
1 WMG Ordinary Fully Paid Share for 1 option
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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

Options as announced 08/10/2021 in Appendix 3B that are not quoted. All options fully issued for that Appendix 3B. The ASX Online Form is not showing the securities to be issued as outlined in the Appendix 3B lodged.

Issue details

Number of +securities 700,000

Were the +securities issued for a cash consideration?

No Please describe the consideration being provided for the +securities Nil consideration Purpose of the issue Other

Additional Details

Consideration for the acquisition of tenement E39/2073 announced on 08/10/2021.

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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
WMG : ORDINARY FULLY PAID	35,782,500

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
WMGAB : ORDINARY FULLY PAID RESTRICTED	8,017,501
WMGAC : OPTION EXPIRING 17-NOV-2023 RESTRICTED	1,400,000
WMGAD : OPTION EXPIRING 15-JUL-2024 RESTRICTED	2,000,000
WMGAE : OPTION EXPIRING 15-JUL-2025 RESTRICTED	17,000,000
New class - code to be confirmed : Options Expiring 11-Nov-2024 EX $0.30	700,000

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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? 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?

700,000 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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