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European Lithium Limited / NOTICE UNDER SECTION 708A(12C)(E)(AS NOTIONALLY INSERTED BY ASIC CORPORATIONS (SALE OFFERS: SECURITIES ISSUED ON CONVERSION OF CONVERTIBLE NOTES) - ATTACHMENT - Seite 3

| |preceding 60 day period. |
| |No penalties in the event no further drawdowns are |
|__________________________|made.______________________________________________|
|Facility_term_____________|36_months_from_the_date_of_the_Agreement___________|
|Face_Value________________|A$1,000_per_Convertible_Note_______________________|
|Interest |Only in the event notes are redeemed, calculated at|
|__________________________|10%_per_annum._____________________________________|
|Commitment and success fee|8% of amounts subscribed for under the Agreement, |
|__________________________|to_be_paid_upon_draw_down._________________________|
|Termination_fee___________|None_______________________________________________|
| |Each subsequent tranche is subject to conditions |
| |typically for a facility of this nature, including |
| |no material adverse change, no event of default, |
| |compliance with Listing Rules (including prior |
| |shareholder approval to allow conversion at the |
| |note holder's election), no entry into variable |
|Conditions to drawdowns |equity financings, no change of control, or breach |
| |of warranty. |
| |In the event the closing VWAP for any five (5) day |
| |period falls below 135% of the Floor Price, the |
| |Investor, at its discretion, has the right to |
| |decline further drawdowns. Drawdowns may resume if |
| |the VWAP remains over 135% of the VWAP for 20 |
|__________________________|consecutive_days.__________________________________|
| |progress the Company's definitive feasibility study|
| |on its Wolfsberg lithium project (anticipated to be|
|Use of funds |$1,565,000 in the forthcoming quarter) and for |
| |general working capital (anticipated to be $435,000|
|__________________________|in_the_forthcoming_quarter)________________________|
|Note_maturity_date________|24_months_from_issue_______________________________|
|Security__________________|Unsecured._________________________________________|
|Transferability |The notes are transferable, subject to the |
|__________________________|Corporations_Act.__________________________________|
| |At the Investor's discretion at any time during the|
| |term, subject to a minimum conversion amount of 20 |
| |notes per conversion |
|Conversion |Shares issued on conversion of the Convertible |
| |Notes will rank equally with the Company's existing|
| |shares and the Company will ensure that the shares |
|__________________________|can_be_offered_for_sale_without____________________|
| |92% of the lowest VWAP during the 10 Trading Days |