APPENDIX 5B Mining exploration entity quarterly report Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10 Name of entity Estrella Resources Limited Quarter Ended (''Current Quarter'') ABN 39 151 155 207 31 December 2015 Consolidated statement of cash flows Current Year to date quarter $A’000 (6 months) $A’000 - - (81) (81) (b) development - - (c) production - - (132) (305) Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration and evaluation (d) administration 1.3 Dividends received - - 1.4 Interest and other items of a similar nature received - - 1.5 Interest and other costs of finance paid 8 10 1.6 Income taxes paid - - 1.7 Other (provide details if material) - - (125) (376) Net operating cash flows Cash flows related to investing activities (a) prospects 1.8 Payment for purchases of: 1.9 Proceeds from sale of: - - (b) equity investments - - (c) other fixed assets - - (a) prospects - - (b) equity investments - - (c) other fixed assets - - (500) (500) 1.10 Loans to other entities 1.11 Loans repaid by other entities - - 1.12 Other- Project Option Fees - - Net investing cash flows (500) (500) Total operating and investing cash flows (carried forward) (625) (876) 1.13 Page 1 of 5 ESTRELLA RESOURCES LIMITED- APPENDIX 5B 30 June 2014 Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. - 1,216 1.15 Proceeds from sale of forfeited shares - - 1.16 Proceeds from borrowings - - 1.17 Repayment of borrowings - - 1.18 Dividends paid - - 1.19 Other – Capital raising costs (79) (79) Net financing cash flows (79) 1,137 Net increase (decrease) in cash held (704) 261 1.20 Cash at beginning of quarter/year to date 1,364 399 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end of quarter 660 660 Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities Current quarter $A'000 1.23 Aggregate amount of payments to the parties included in item 1.2 38 1.24 Aggregate amount of loans to the parties included in item 1.10 - 1.25 Explanation necessary for an understanding of the transactions Directors including executive directors fees/salary for the period. Non-cash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows Nil 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest Nil Financing facilities available Add notes as necessary for an understanding of the position. Amount Available $A,000 Amount used $A,000 3.1 Loan facilities - - 3.2 Credit standby arrangements - - Page 2 of 5 ESTRELLA RESOURCES LIMITED- APPENDIX 5B 30 June 2014 Estimated cash outflows for next quarter $A’000 4.1 Exploration and evaluation - 4.2 Development - 4.3 Production - 4.4 Administration (90) Total (90) Reconciliation of cash Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows. Current quarter $A’000 Previous quarter $A’000 660 1,364 5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft - - 5.4 Other: Term Deposit - - 660 1,364 Total: cash at end of quarter (item 1.22) Changes in interests in mining tenements Tenement reference 6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased Nature of interest Interest at beginning of quarter Interest at end of quarter Page 3 of 5 ESTRELLA RESOURCES LIMITED- APPENDIX 5B 30 June 2014 Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rights together with prices and dates. 7.1 Preference +securities(description) 7.2 Changes during quarter Total Number Number quoted 155,249,959 155,249,959 Issue price per security (see note 3) Amount paid up per security (see note 3) Exercise price Expiry date (a) Increases through issues 7.3 (b) Decreases through returns of capital, buy-backs, redemptions +Ordinary securities 7.4 Changes during quarter (a) Increases through issues Rounding share consolidation (b) Decreases through returns of capital, buy-backs 7.5 7.6 Convertible debt (description) Changes during quarter securities (a) Increases through issues (b) Decreases through securities matured, converted 7.7 Options Unlisted 126,250 - 80 cents 19-Dec-16 Unlisted 150,000 - 80 cents 25-Oct-16 Unlisted 375,000 - 80 cents 9-May-17 Unlisted 118,750 - 80 cents 3-Oct-18 Unlisted 112,500 - $1.40 18-Apr-16 Unlisted 750,000 - $1.40 21-Nov-18 Unlisted 125,000 - $1.40 18-Dec-16 Unlisted 967,857 - $0.20 31-Dec-15 Unlisted Unlisted 1,375,000 187,500 - $0.40 $1.40 13-Nov-19 7-Mar-17 Unlisted 5,000,000 - 4.4 cents 31-May-18 Unlisted 31,250,000 - 2.4 cents 31-Mar-20 Page 4 of 5 ESTRELLA RESOURCES LIMITED- APPENDIX 5B 30 June 2014 7.8 Issued during quarter Unlisted Unlisted 7.9 Exercised during quarter 7.1 Expired during quarter Debentures 7.11 (totals only) 7.12 Performance Rights (totals only) 7.13 Unsecured notes (totals only) Compliance statement 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5). 2 This statement does give a true and fair view of the matters disclosed. Sign here: Print name: Date: 27 January 2016 Guy Robertson - Company Secretary Notes 1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report. 2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2. 3 Issued and quoted securities. The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities. 4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with. Page 5 of 5 ESTRELLA RESOURCES LIMITED- APPENDIX 5B 30 June 2014