Crusader Resources : Appendix 3B

Name of entity

Crusader Resources Limited

ABN

94 106 641 963

1

+Class of +securities issued or to be issued

Unlisted Options

2

Number of +securities issued or to be issued (if known) or maximum number which may be issued

3,000,000 options

3

Principal terms of the

+securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if

+convertible securities, the

conversion price and dates for conversion)

1,000,000 Options ($0.15, 19 May 2023)

1,000,000 Options ($0.20, 19 May 2023)

1,000,000 Options ($0.30, 19 May 2023)

4

Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?

If the additional +securities do not rank equally, please state:

• the date from which they do

• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

Options: Shares issued on exercise of options will rank equally with existing fully paid ordinary shares.

5

Issue price or consideration

Nil

6

Purpose of the issue

(If issued as consideration for the acquisition of assets, clearly identify those assets)

Options issued pursuant to a Resolution of a General Meeting of Shareholders on 19 May 2016.

6a

Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

No

6b

The date the security holder resolution under rule 7.1A was passed

6c

Number of +securities issued without security holder approval under rule 7.1

6d

Number of +securities issued with security holder approval under rule 7.1A

6e

Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

6f

Number of +securities issued under an exception in rule 7.2

6g

If +securities issued under rule 7.1A, was issue price at least 75%

of 15 day VWAP as calculated under rule 7.1A.3? Include the

+issue date and both values.

Include the source of the VWAP calculation.

6h

If +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements

6i

Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements

7

+Issue dates

Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A.

Cross reference: item 33 of Appendix 3B.

17 June 2015

Number

+Class

8

Number and +class of all

+securities quoted on ASX (including the +securities in section 2 if applicable)

238,068,779

Fully paid ordinary shares.

Number

+Class

500,000

1,000,000

1,000,000

7,322,000

1,412,500

2,535,000

3,150,499

5,650,000

1,160,000

2,175,000

1,246,550

8,741,258

10,483,831

Options exercisable at $0.50 each expiring 13 August 2016

Options exercisable at $0.60 each expiring 13 August 2016

Options exercisable at $0.80 each expiring 13 August 2016

Options exercisable at $0.3414 each expiring 10 May 2017

Options exercisable at $0.43 each expiring 13 May 2017

Options exercisable at $0.43 each expiring 7 August 2017

Options exercisable at $0.286 each expiring 31 December

2018

Options exercisable at $0.41 each expiring 30 June 2018

Options exercisable at $0.52 each expiring 14 August 2018

Options exercisable at $0.52 each expiring 14 August 2018 Subject to vesting conditions

Options exercisable at $0.41 each expiring 20 August 2018

Options exercisable at $0.286 each expiring 31 December

2018

Options exercisable at $0.15 each expiring 31 December 2017