Navarre Minerals : 28/09/2016 – 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	26,486,990 Shares 13,243,495 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)	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 pursuant to the underwriting arrangements in respect of the shortfall of an equity raising which comprised a two- for-five non-renounceable entitlement offer to raise $1,140,824 (before costs) (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. Further details are provided in the Company's prospectus dated 25 August 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	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	9,830,000 Shares 4,915,000 Options
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 Shares (2015 Share Purchase Plan) 12,851,789 Shares (2016 Entitlement Offer) 26,486,990 Shares (subject of this Appendix 3B) 6,425,907 Options (2016 Entitlement Offer) 13,243,495 Options (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	7.1 5,907,858 7.1A 13,768,572 Total 19,676,430

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.	28 September 2016
Number	+Class
8	Number and +class of all +securities quoted on ASX (including the +securities in section 2 if applicable)	147,515,725	Fully paid ordinary shares

Number	+Class
150,000 300,000 250,000 150,000 24,584,402	$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)

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)

Part 2 - Pro rata issue

11	Is security holder approval required?	No
12	Is the issue renounceable or non- renounceable?	Non-renounceable