CARNABY RESOURCES LIMITED — Capital/Financing Update 2017

Nov 29, 2017

ASX Announcement 30 November 2017

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Berkut Appoints Corporate Advisor

Berkut Minerals Limited (ASX: BMT) (“Berkut” or the “Company”) is pleased to announce the appointment of Canaccord Genuity (Australia) Ltd (“Canaccord”) as its corporate advisor. Canaccord will provide assistance with the Company’s marketing strategy and an introduction to a broader investor community both nationally and internationally, as well as other advisory services.

Canaccord has strong credentials in the battery metals sector with top-ranked analysts covering the sector.

Detailed information on all aspects of Berkut’s projects can be found on the Company’s website www.berkutminerals.com.au.

For further information please contact Berkut Minerals Limited Neil Inwood, Managing Director

Fast Facts Shares on Issue 54.3M Tradeable Shares 40.4M Market Cap (@ 26 cents) $14.1 Cash (30 September 2017) $5.3M

Board and Management Neil Inwood, Managing Director Justin Tremain, Non-Exec Chairman Paul Payne, Non-Exec Director

Ben Cairns, General Mgr Geology Aaron Bertolatti, Company Secretary

Company Highlights

▪ European cobalt and nickel projects in Norway and Sweden, strategically located within proximity to operating cobalt refineries and European markets

• 100% ownership of the Skuterud Cobalt Project in Norway

• Historic mined cobalt grades up to 2% at the 100% owned Gladhammar Project in Sweden

▪ 100% ownership of historical Lainejaur Ni, Co, Cu resource in Sweden

• Swedish ground position of approx. 100km[2] and Norwegian ground position of 19km[2] , both covering historic mine workings

▪ Tight capital structure

• Well-funded | Strong cash position

Registered Office

78 Churchill Avenue Subiaco Western Australia 6008 T: +61 8 9320 2320 www.berkutminerals.com.au