Adavale Resources : Change of Director's Interest Notice x 2

For personal use only

Appendix 3Y

Change of Director's Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	Adavale Resources Limited
ABN	96 008 719 015

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Grant Stanley Pierce
Date of last notice	21 January 2022

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

	Direct or indirect interest	Direct & Indirect
	Nature of indirect interest	Equity Plan Services Pty Ltd
	(including registered holder)	(a trust which Mr Pierce is a beneficiary)
	Note: Provide details of the circumstances giving rise to the relevant
	interest.
	Date of change	21 February 2022
	No. of securities held prior to change	2,766,290	Fully Paid Ordinary Shares
		(Amended from 2,756,627 due to an error in
		addition calculation on previous Appendix 3Y
		submitted on 29 July 2021)
		2,000,000	Unlisted Options exercisable at
		$0.15 each expiring 13 January 2025
		1,000,000	Performance Rights expiring 30
		June 2023
		2,200,000	Performance Rights expiring 31
		December 2023
	Class	Fully Paid Ordinary Shares

• See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 1

For personal use only

Appendix 3Y

Change of Director's Interest Notice

Number acquired	59,760
Number disposed	-
Value/Consideration	Deemed at $0.0502 - last 5 day VWAP for the
Note: If consideration is non-cash, provide details and estimated	month of service - January 2022
valuation
No. of securities held after change	2,826,050	Fully Paid Ordinary Shares
	2,000,000	Unlisted Options exercisable at
	$0.15 each expiring 13 January 2025
	1,000,000	Performance Rights expiring 30
	June 2023
	2,200,000	Performance Rights expiring 31
	December 2023
Nature of change	Issued in lieu of remuneration for month of
Example: on-market trade, off-market trade, exercise of options,	January 2022.
issue of securities under dividend reinvestment plan, participation in
buy-back

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	-
Nature of interest	-
Name of registered holder	-
(if issued securities)
Date of change	-
No. and class of securities to which	-
interest related prior to change

Note: Details are only required for a contract in relation to which the interest has changed

Interest acquired	-
Interest disposed	-
Value/Consideration	-
Note: If consideration is non-cash, provide details
and an estimated valuation
Interest after change	-

+ See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

For personal use only

Appendix 3Y

Change of Director's Interest Notice

Part 3 - +Closed period

Were the interests in the securities or contracts detailed No above traded during a +closed period where prior written clearance was required?

If so, was prior written clearance provided to allow the trade - to proceed during this period?

If prior written clearance was provided, on what date was this - provided?

• See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 3

For personal use only

Appendix 3Y

Change of Director's Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	Adavale Resources Limited
ABN	96 008 719 015

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	John Desmond Hicks
Date of last notice	14 January 2022

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest	Nambour Valley Pty Ltd
(including registered holder)	A/C>
Note: Provide details of the circumstances giving rise to the relevant	(a company which Mr Hicks is a director)
interest.
	Equity Plan Services Pty Ltd
	(a trust which Mr Hicks is a beneficiary)
Date of change	21 February 2022
No. of securities held prior to change	503,551 Fully Paid Ordinary Shares
	2,000,000 Unlisted Options exercisable at
	$0.15 each expiring 13 January 2025
	1,000,000 Performance Rights expiring 30
	June 2023
	2,200,000 Performance Rights expiring 31
	December 2023

• See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 1

For personal use only

Appendix 3Y

Change of Director's Interest Notice

Class	Fully Paid Ordinary Shares
Number acquired	59,760
Number disposed	-
Value/Consideration	Deemed at $0.0502 - last 5 day VWAP for the
Note: If consideration is non-cash, provide details and estimated	month of service - January 2022
valuation
No. of securities held after change	563,311 Fully Paid Ordinary Shares
	2,000,000 Unlisted Options exercisable at
	$0.15 each expiring 13 January 2025
	1,000,000 Performance Rights expiring 30
	June 2023
	2,200,000 Performance Rights expiring 31
	December 2023
Nature of change	Issued in lieu of remuneration for month of
Example: on-market trade, off-market trade, exercise of options,	January 2022.
issue of securities under dividend reinvestment plan, participation in
buy-back

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	-
Nature of interest	-
Name of registered holder	-
(if issued securities)
Date of change	-
No. and class of securities to which	-
interest related prior to change

Note: Details are only required for a contract in relation to which the interest has changed

Interest acquired	-
Interest disposed	-

+ See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011