Sarama Resources : 230413 Appendix 3G - Option Issue Tranche 1 Filed

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

Announcement Summary

Entity name

SARAMA RESOURCES LTD

Date of this announcement

Thursday April 13, 2023

The +securities the subject of this notification are:

Other

Total number of +securities to be issued/transferred

Refer to next page for full details of the announcement

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

Part 1 - Entity and announcement details

1.1 Name of entity

SARAMA RESOURCES LTD

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1. The announcement is New announcement
2. Date of this announcement

13/4/2023

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

Part 2 - Issue details

2.1 The +securities the subject of this notification are: Other

Please specify

unlisted options of a new class as detailed in Appendix 3B lodged on 3 April 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:

does not have an existing ASX security code ("new class")

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

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

Date the +securities the subject of this notification were issued

13/4/2023

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.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02650631-6A1143662?access_token=8 3ff96335c2d45a094df02a206a39ff4

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

Description

SRR : CHESS DEPOSITARY INTERESTS 1:1

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

the existing class of security that will be issued upon exercise or conversion of this new class of company option will be

SRR : CHESS DEPOSITARY INTERESTS 1:1

Please provide any further information needed to understand the circumstances in which you are notifying the

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

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

refer Appendix 3B lodged 3 April 2023

Issue details

Number of +securities

6,875,000

Were the +securities issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

issued as free-attaching options to Participants in a private placement.

Purpose of the issue

Other

Additional Details

To complete a preliminary economic assessment, fund administration and working capital costs.