Mustang Resources : Change of Director's Interest Notice - I Daymond

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 30/9/2001.

Name of entity

Mustang Resources Limited

ACN

34 090 074 785

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	Ian DAYMOND
Date of last notice	27 June 2016

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	Direct and Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Direct - Ian Daymond Indirect - Daymond & Associates Pty Ltd The trustee of the Daymond Family Super Fund is Daymond & Associates Pty Ltd which is wholly owned by Ian C Daymond, who is a beneficiary of the Super Fund and the sole director of Daymond & Associates Pty Ltd
Date of change	15 January 2018
No. of securities held prior to change	Ian Daymond 400,000 Ordinary Shares Daymond & Associates Pty Ltd 100,000 Ordinary shares
Class	Ordinary shares Options

+ See chapter 19 for defined terms.

11/3/2002

Appendix 3Y Page 1

Appendix 3Y

Change of Director's Interest Notice

Number acquired	1,500,000 Ordinary shares issued to the Mustang Long Term Incentive Plan Trust on behalf of Ian Daymond vesting after 12 months continuous service by Ian Daymond to the Company from 24 November 2017 4,500,000 Options issued to the Mustang Long Term Incentive Plan Trust vesting subject to the Company's market capitalisation being not less than $100,000,000 over a period of 20 consecutive trading days within 18 months with the Options exercisable at $0.0307 with expiry date 15 January 2021.
Number disposed	Not Applicable
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Non cash consideration in exchange for performance and part of the Company's long term incentive scheme approved by shareholders at the Company AGM 24 November 2017. Deemed value of Ordinary shares $45,000.
No. of securities held after change	Ian Daymond 400,000 Ordinary Shares 1,500,000 Ordinary shares via the Mustang Long Term Incentive Plan Trust 4,500,000 Options via the Mustang Long Term Incentive Plan Trust Daymond & Associates Pty Ltd 100,000 Ordinary shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Non cash consideration in exchange for performance and part of the Company's long term incentive scheme approved by shareholders at the Company AGM 24 November 2017.

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

Nature of interest

Name of registered holder (if issued securities)

Date of change

No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed

Interest acquired

Interest disposed

+ See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y

Change of Director's Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation

Interest after change

Part 3 - +Closed period

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/a
If prior written clearance was provided, on what date was this provided?	N/a

+ See chapter 19 for defined terms.

11/3/2002

Appendix 3Y Page 3