Navarre Minerals : 25/08/2016 – Appendix 3B

Appendix 3B

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

New issue announcement, application for quotation of additional securities and agreement

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 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

Name of entity

Navarre Minerals Limited

ABN

66 125 140 105

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1	+Class of +securities issued or to be issued	Fully paid ordinary shares (Shares) Unlisted options (Options)
2	Number of +securities issued or to be issued (if known) or maximum number which may be issued	Up to approximately 39,338,779 Shares (subject to the reconciliation of entitlements and the effect of rounding and based on the number of shares assumed to be on issue as at the Record Date of 31 August 2016) (Record Date)). Up to approximately 19,669,390 Options (subject to the reconciliation of entitlements and the effect of rounding and based on the number of shares assumed to be on issue as at the Record Date).
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)	Fully paid ordinary shares Options exercisable at $0.05 each, expiry date 31 March 2018.

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	Shares - yes, the new Shares will rank equally in all respects with the existing fully paid ordinary shares from the date of allotment. Options - upon exercise of the Options, the Shares issued will rank equally in all respects with the existing fully paid ordinary shares from the date of allotment.
5	Issue price or consideration	$0.029 per Share The Options are each exercisable at $0.05 per Option on or before 31 March 2018. The Options are issued for nil consideration, but are attached to the Shares issued under the Entitlement Offer (defined below).
6	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)	The Shares and Options are being issued as part of an equity raising which comprises a two-for-five non-renounceable entitlement offer to raise up to $1,140,824 (before costs), pursuant to which up to approximately 39,338,779 Shares in the Company at an issue price of $0.029 per Share will be offered to the registered holders on the Record Date of existing shares in the Company, with one free attaching Option issued for every two Shares subscribed for and issued under the prospectus dated 25 August 2016 (Entitlement Offer). Funds raised under the Entitlement Offer (after payment of costs and expenses) will be applied to an exploration program on the Company's Irvine and Benno gold prospects & ongoing working capital requirements.
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	Yes

6b	The date the security holder resolution under rule 7.1A was passed	13 November 2015
6c	Number of +securities issued without security holder approval under rule 7.1	Nil
6d	Number of +securities issued with security holder approval under rule 7.1A	Nil
6e	Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)	Nil
6f	Number of +securities issued under an exception in rule 7.2	5,766,674 ordinary shares (issued pursuant to the Company's 2015 Share Purchase Plan) Up to approximately 39,338,779 Shares (the subject of this Appendix 3B) Up to approximately 19,669,390 attaching Options (the subject of this Appendix 3B)
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.	N/A
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	N/A
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	See Annexure 1 (Note - the calculations in Annexure 1 assume the Entitlement Offer is fully subscribed)

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.	The Shares and attaching Options under the Entitlement Offer (excluding any underwritten Shares and Options) will be issued on or around 23 September 2016. The underwritten Shares and attaching Options (if any) will be issued on or around 26 September 2016. Note: this date is indicative only. The Board reserves the right and may vary key dates, subject to compliance with the ASX Listing Rules.
Number	+Class
8	Number and +class of all +securities quoted on ASX (including the +securities in section 2 if applicable)	Up to approximately 137,685,725 (including up to approximately 39,338,779 Shares to be issued under the Entitlement Offer) Note: these figures assumes that the Entitlement Offer and the shortfall offer (if required) under the Prospectus is fully subscribed.	Fully paid ordinary shares

Number	+Class
150,000 300,000 250,000 150,000 Up to approximately 19,669,390 Note: these figures assumes that the Entitlement Offer and the shortfall offer (if required) under the Prospectus is fully subscribed.	$0.30 options (expire 31/12/16) $0.15 options (expire 31/12/17) $0.10 options (expire 31/12/18) $0.04 options (expire 31/12/19) $0.05 options (expire 31/3/18) (Options)

1. Number and +class of all

   +securities not quoted on ASX (including the +securities in section 2 if applicable)

   The Company does not presently have a formal dividend policy.

2. Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)