Navarre Minerals : 30/11/2020 – Appendix 3G – Share Performance Rights

This appendix is not available as an online form
Please fill in and submit as a PDF announcement	+Rule 3.10.3A, 3.10.3B, 3.10.3C

Appendix 3G

Notification of issue, conversion or payment up of equity

+securities

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.

If you are an entity incorporated outside Australia and you are issuing a new class of +securities other than CDIs, you will need to obtain and provide an International Securities Identification Number (ISIN) for that class. Further information on the requirement for the notification of an ISIN is available from the Create Online Forms page. ASX is unable to create the new ISIN for non-Australian issuers.

*Denotes minimum information required for first lodgement of this form, with exceptions provided in specific notes for certain questions. The balance of the information, where applicable, must be provided as soon as reasonably practicable by the entity.

Part 1 - Entity and announcement details

Question	Question	Answer
no
1.1	*Name of entity	Navarre Minerals Limited
	We (the entity here named) give notice of the issue,
	conversion or payment up of the following unquoted
	+securities.
1.2	*Registration type and number	ABN: 66 125 140 105
	Please supply your ABN, ARSN, ARBN, ACN or
	another registration type and number (if you supply
	another registration type, please specify both the type
	of registration and the registration number).
1.3	*ASX issuer code	NML
1.4	*This announcement is	☒A new announcement
	Tick whichever is applicable.	☐An update/amendment to a previous
		announcement
		☐A cancellation of a previous
		announcement
1.4a	*Reason for update	N/A
	Mandatory only if "Update" ticked in Q1.4 above. A
	reason must be provided for an update.
1.4b	*Date of previous announcement to this	N/A
	update
	Mandatory only if "Update" ticked in Q1.4 above.
1.4c	*Reason for cancellation	N/A
	Mandatory only if "Cancellation" ticked in Q1.4 above.
1.4d	*Date of previous announcement to this	N/A
	cancellation
	Mandatory only if "Cancellation" ticked in Q1.4 above.
1.5	*Date of this announcement	30 November 2020

+ See chapter 19 for defined terms
1 December 2019	Page 1

This appendix is not available as an online form	Appendix 3G
Please fill in and submit as a PDF announcement	Notification of issue, conversion or
	payment up of equity +securities

Part 2 - Type of issue

Question	Question	Answer
No.
2.1	*The +securities the subject of this	☐+securities issued as a result of options
	notification are:	being exercised or other +convertible
	Select whichever item is applicable.	☐+securities being converted and that are
	If you wish to notify ASX of different types of issues of	not to be quoted on ASX
	securities, please complete a separate Appendix 3G
	☐partly paid +securities that have been fully
	for each type of issue.
		paid up and that are not to be quoted on
		ASX
		☒+securities issued under an +employee
		incentive scheme that are not being
		immediately quoted on ASX
		☐other [please specify]
		If you have selected 'other' please provide the
		circumstances of the issue here:
2.2a.1	Please state the number and type of	N/A
	options that were exercised or other
	+convertible securities that were converted
	(including their ASX security code if
	available)?
	Answer this question if your response to Q2.1 is
	"securities issued as a result of options being
	exercised or other convertible securities being
	converted and that are not to be quoted on ASX".
2.2a.2	And the date the options were exercised or	N/A
	other +convertible securities were
	converted:
	Answer this question if your response to Q2.1 is
	"securities issued as a result of options being
	exercised or other convertible securities being
	converted and that are not to be quoted on ASX".
	Note: If this occurred over a range of dates, enter the
	date the last of the options was exercised or
	convertible securities was converted.
2.2b.1	Please state the number and type of partly	N/A
	paid +securities that were fully paid up
	(including their ASX +security code if
	available)?
	Answer this question if your response to Q2.1 is
	"partly paid securities that have been paid up and that
	are not to be quoted on ASX".
2.2b.2	And the date the +securities were fully paid	N/A
	up:
	Answer this question if your response to Q2.1 is
	"partly paid securities that have been paid up and that
	are not to be quoted on ASX".
	Note: If this occurred over a range of dates, enter the
	date the last of the securities was fully paid up.

+ See chapter 19 for defined terms
1 December 2019	Page 2

This appendix is not available as an online form	Appendix 3G
Please fill in and submit as a PDF announcement	Notification of issue, conversion or
		payment up of equity +securities
2.2c.1	Please state the number and type of	1,500,000 Performance Rights (NMLAA)
	+securities (including their ASX security
	code) issued under an +employee
	incentive scheme that are not being
	immediately quoted on ASX
	Answer this question if your response to Q2.1 is
	"securities issued under an employee incentive
	scheme that are not being immediately quoted on
	ASX".
2.2c.2	*Please attach a document or provide	Grant date: 27 November 2020
	details of a URL link for a document lodged
	with ASX detailing the terms of the	Expiry date: 31 December 2024
	+employee incentive scheme or a
	summary of the terms.	Issue 1,500,000 Unlisted Share
	Answer this question if your response to Q2.1 is	Performance Rights to the Managing
	"securities issued under an employee incentive	Director, Mr Ian Holland, following
	scheme that are not being immediately quoted on
	shareholder approval at the 2020 Annual
	ASX".
		General Meeting held 27 November 2020.
		Vesting Conditions:
		500,000 Share Performance Rights will vest
		and become exercisable when the Share
		price exceeds a closing price of 20 cents per
		Share for 10 consecutive Trading Days
		while holding the position of Managing
		Director in the period from 1 September
		2020 to 31 December 2021.
		500,000 Share Performance Rights will vest
		and become exercisable when the Share
		price exceeds a closing price of 25 cents per
		Share for 10 consecutive Trading Days
		while holding the position of Managing
		Director in the period from 1 September
		2020 to 31 December 2022.
		500,000 Share Performance Rights will vest
		and become exercisable when the Share
		price exceeds a closing price of 30 cents per
		Share for 10 consecutive Trading Days
		while holding the position of Managing
		Director in the period from 1 September
		2020 to 31 December 2023.
		Please refer to Item 4 (Resolution 3) of
		Navarre Minerals Limited's 2019 Notice of
		Annual General Meetingwhich provides a
		summary of the Performance Rights Plan.
2.2c.3	*Are any of these +securities being issued	Yes
	to +key management personnel (KMP) or
	an +associate
	Answer this question if your response to Q2.1 is
	"securities issued under an employee incentive
	scheme that are not being immediately quoted on
	ASX".

+ See chapter 19 for defined terms
1 December 2019	Page 3

This appendix is not available as an online form			Appendix 3G
Please fill in and submit as a PDF announcement		Notification of issue, conversion or
						payment up of equity +securities
2.2c.3.a		*Provide details of the recipients and the number of +securities issued to each of them.
		Answer this question if your response to Q2.1 is "securities issued under an employee incentive scheme that are
		not being immediately quoted on ASX" and your response to Q2.2c.3 is "Yes". Repeat the detail in the table
		below for each KMP involved in the issue. If the securities are being issued to the KMP, repeat the name of the
		KMP or insert "Same" in "Name of registered holder". If the securities are being issued to an associate of a KMP,
		insert the name of the associate in "Name of registered holder".
		Name of KMP		Name of registered holder	Number of +securities
		Ian Holland			Same	1,500,000
2.2d.1		*The purpose(s) for which the entity is		☐to raise additional working capital
		issuing the securities is:			☐to fund the retirement of debt
		Answer this question if your response to Q2.1 is
			☐to pay for the acquisition of an asset
		"Other".
		You may select one or more of the items in the list.		[provide details below]
						☐to pay for services rendered
						[provide details below]
						☐other [provide details below]
						Additional details:
2.2d.2		Please provide any further information		N/A
		needed to understand the circumstances in
		which you are notifying the 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
		Answer this question if your response to Q2.1 is
		"Other".
2.3		*The +securities being issued are:		☒Additional +securities in an existing
		Tick whichever is applicable			unquoted class that is already recorded
						by ASX ("existing class")
						☐New +securities in an unquoted class that
						is not yet recorded by ASX ("new class")

Part 3A - number and type of +securities being issued (existing class)

Answer the questions in this part if your response to Q2.3 is "existing class".

Question	Question	Answer
No.
3A.1	*ASX +security code & description	Performance Rights (NMLAA)
3A.2	*Number of +securities being issued	1,500,000
3A.3a	*Will the +securities being issued rank	Yes
	equally in all respects from their issue date
	with the existing issued +securities in that
	class?
3A.3b	*Is the actual date from which the	N/A
	+securities will rank equally (non-ranking
	end date) known?
	Answer this question if your response to Q3A.3a is
	"No".

+ See chapter 19 for defined terms
1 December 2019	Page 4