Form605

CorporationsAct 2001 Section 671B

Notice of ceasing to be a substantial holder

To CompanyName/Scheme ACN/ARSN

ARGOSY MINERALS LTD 073 391 189

1. Details of substantial holder(1)

   Name

   ACN/ARSN (if applicable)

   Theholder ceasedto bea substantial holder on

   Olaf Frederickson

   1 / 06/ 2016

   Thepreviousnoticewasgivento thecompanyon

   12/ 08/

   2015

   Thepreviousnoticewasdated

   12/ 08/ 2015

2. Changes in relevant interests

   Particularsof eachchangein, or changein thenatureof, arelevant interest (2)of thesubstantial holder or anassociate(3) invotingsecuritiesof thecompanyor scheme, sincethe substantial holder waslast requiredtogiveasubstantial holdingnoticeto thecompanyor schemeareasfollows:

   Date of change	Person whose relevant interest changed	Nature of change(4)	Consideration givenin relation to change(5)	Class(6)and number of securities affected	Person's votes affected
   1/06/2016	Olaf Frederickson	Dilution	N/A	8,555,555	8,555,555
   1/06/2016	Frederickson Super Fund A/C	Dilution	N/A	15,666,667	15,666,667

3. Changes in association

   Thepersonswhohavebecomeassociates (3)of, ceasedtobeassociatesof, or havechangedthenatureof their association(7)with, thesubstantial holder in relationtovoting interests in thecompanyor schemeareasfollows:

   Name andACN/ARSN (if applicable)	Nature of association

4. Addresses

Theaddressesof personsnamedin this formareasfollows:

Signature

print name

Olaf Frederickson

capacity

sign here date

07 / 06

/ 2016

DIRECTIONS

1. If there area number of substantial holders withsimilaror relatedrelevant interests (eg. a corporationandits relatedcorporations, or themanager andtrusteeof an equity trust), thenamescouldbeincludedinanannexure to theform. If therelevant interestsof agroupof personsareessentiallysimilar, theymaybereferredto throughout the formasa specifically namedgroupif themembership of eachgroup, with thenamesandaddressesof members isc learly set out in paragraph4 of the form.

2. See thedefinitionof "relevant interest" in sections608and671B(7)of theCorporationsAct 2001.

3. See thedefinitionof "associate" in section9 of theCorporationsAct 2001.

4. Includedetailsof:

5. anyrelevant agreement orother circumstancesbecauseof which thechangein relevant interest occurred. If subsection671B(4)applies, a copyof any document settingout the termsof anyrelevant agreement, anda statement by thepersongiving full andaccurate details of anycontract, scheme or arrangement, must accompanythis form, together witha writtenstatement certifyingthiscontract, schemeor arrangement; and

6. anyqualificationof thepower of apersontoexercise, control theexerciseof, or influencetheexerciseof, thevotingpo wersor disposal of thesecuritiesto whichtherelevant interest relates(indicatingclearly theparticular securitiestowhichthequalificationapplies).

   See thedefinitionof "relevant agreement" in section9 of theCorporationsAct 2001.

7. Detailsof theconsiderationmust includeanyandall benefits,moneyandother, that anypersonfromwhoma relevant interest wasacquiredhas, ormay, become entitledto receivein relationto that acquisition. Detailsmust beincludedevenif thebenefit isconditional onthehappeningor not of acontingency. Detailsmust be includedof anybenefit paidonbehalf of thesubstantial holder or itsassociate inrelationto theacquisitions, evenif they arenot paiddirectly to thepersonfrom whom therelevant interest wasacquired.

8. Thevotingsharesof acompanyconstituteoneclassunlessdividedintoseparateclasses.

9. Givedetails, if appropriate, of thepresent associationandanychangein that associationsincethelast substantial holdingnotice.