Appendix 3B

Name of entity

Gindalbie Metals Limited

ABN

24 060 857 614

1

+Class of +securities issued or to be issued

Ordinary fully paid shares.

2

Number of +securities issued or to be issued (if known) or maximum number which may be issued

76,597

3

Principal terms of the

+securities (eg, 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)

Ordinary fully paid shares.

4

Do the +securities rank equally in all respects from the date of allotment 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

Yes.

5

Issue price or consideration

A$0.00 (nil) per share.

6

Purpose of the issue

(If issued as consideration for the acquisition of assets, clearly identify those assets)

Exercise of options pursuant to Company Employee Share Option Plan

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

No.

6b

The date the security holder resolution under rule 7.1A was passed

6c

Number of +securities issued without security holder approval under rule 7.1

6d

Number of +securities issued with security holder approval under rule 7.1A

6e

Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

6f

Number of securities issued under an exception in rule 7.2

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.

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

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

Dates of entering +securities into uncertificated holdings or despatch of certificates

10 November 2016

Number

+Class

8

Number and +class of all

+securities quoted on ASX (including the securities in section 2 if applicable)

1,496,435,463

+ 76,5971,496,512,060

Ordinary fully paid shares.

Number

+Class

143,264

362,110

Employee share options-

• Exercisable price : Nil

• Expiry date: 15 November 2016

• Exercise price: Nil

• Expiry date: 31 October 2017

.

Employee share options -

11

Is security holder approval required?

12

Is the issue renounceable or non- renounceable?

13

Ratio in which the +securities will be offered

14

+Class of +securities to which the offer relates

15

+Record date to determine entitlements

16

Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?