PNX Metals : Change of Director’s Interest Notice

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	PNX METALS LIMITED
ABN	67 127 446 271

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	Graham Leslie Ascough
Date of last notice	29 December 2020

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	Mr Ascough has two indirect holdings:
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant	a)	Registered holder: Mr Graham Leslie
interest.
	Ascough + Mrs Patricia Lynn Ascough
		. Mr Ascough is a
		director and beneficiary of The Ascough
		Superfund.
	b)	Registered holder: Mr Graham Leslie
		Ascough + Mrs Patricia Lynn Ascough
		. Mr Ascough is
		a Trustee of this account.
Date of change		16 February 2022

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

Appendix 3Y

Change of Director's Interest Notice

	No. of securities held prior to change	1)	13,833,166 fully paid ordinary shares of
			which 10,096,157 are held by the
			Ascough Superfund and 3,737,009 are
			held by the Ascough Family Trust.
		2)	3,125,000 unquoted options held by the
			Ascough Superfund, with an exercise
			price of 1.5 cents each and an expiry date
			of 30 September 2021.
	Class
		1)	Fully paid ordinary shares
		2)	Unquoted options @ 1.5 cents each and
			expiry date of 30 September 2021
	Number acquired
		1)	3,458,293 fully paid ordinary shares
	Number disposed
		2)	Expiry on 30 September 2021 of
			3,125,000 unquoted options @ 1.5 cents
			held by the Ascough Superfund.
	Value/Consideration	1)	$17,291.47
	Note: If consideration is non-cash, provide details and estimated
	valuation	2)	Nil
	No. of securities held after change	1)	17,291,459 fully paid ordinary shares of
			which 12,620,197 are held by the
			Ascough Superfund and 4,671,262 are
			held by the Ascough Family Trust.
		2)	Nil unquoted options held.
	Nature of change	1)	Entitlement shares issued on 16 February
	Example: on-market trade, off-market trade, exercise of options, issue		2022 under the non-renounceable rights
	of securities under dividend reinvestment plan, participation in buy-		issue that was announced to the ASX on
	back
			20 January 2022.
		2)	Expiry of unquoted options @ 1.5 cents
			on 30 September 2021

+ See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y

Change of Director's Interest Notice

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	N/A
Nature of interest	N/A
Name of registered holder	N/A
(if issued securities)
Date of change	N/A
No. and class of securities to which	N/A
interest related prior to change
Note: Details are only required for a contract in
relation to which the interest has changed
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration	N/A
Note: If consideration is non-cash, provide details
and an estimated valuation
Interest after change	N/A

Part 3 - +Closed period

Were the interests in the securities or contracts detailed above	N/A
traded during a +closed period where prior written clearance was
required?
If so, was prior written clearance provided to allow the trade to	N/A
proceed during this period?
If prior written clearance was provided, on what date was this	N/A
provided?

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