CARNABY RESOURCES LIMITED — Capital/Financing Update 2017

Aug 13, 2017

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MARKET RELEASE

14 August 2017

Berkut Minerals Limited

TRADING HALT

The securities of Berkut Minerals Limited (the “Company”) will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in Trading Halt Session State until the earlier of the commencement of normal trading on Wednesday, 16 August 2017 or when the announcement is released to the market.

Security Code: BMT

Sandra Wutete

Senior Adviser, Listings Compliance (Perth)

Level 40 Central Park 152-158 St Georges Terrace Perth WA 6000

www.asx.com.au Phone:08 9224 0000 Customer service 13 12 79

ASX Compliance Pty Limited ABN 26 087 780 489

ASX Announcement 14 August 2017

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By email:

tradinghaltsperth@asx.com.au Sandra.wutete@asx.com.au

Ms Sandra Wutete Company Advisor (Perth) ASX Limited Level 40 - Central Park 152-158 St Georges Tce PERTH WA 6000

Fast Facts Shares on Issue: 47.3M Market Cap: ~$11.8M Cash (current): ~$4.0M

Board and Management

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

Ben Cairns, General Manager Aaron Bertolatti, Company Secretary

Company Highlights

Dear Ms Wutete

REQUEST FOR TRADING HALT

In accordance with listing rule 17.1, Berkut Minerals Ltd (ASX: BMT) requests a trading halt to be placed on the Company’s securities pending an announcement relating to a capital raising.

The Company requests that the trading halt remain in place until the earlier of the commencement of normal trading on Wednesday 16 August 2017, or when the announcement concerning a capital raising is released to the market.

The Company is not aware of any reason why the trading halt should not be granted.

Yours sincerely,

▪ 100% ownership of European cobalt projects in Norway and Sweden

• Historic mined cobalt grades up to 2%

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

• Strategically located within proximity to operating cobalt refineries and European markets

• Tight capital structure | Only 33.4M non-escrowed shares

• ▪ Well funded | Strong cash position

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Aaron Bertolatti Company Secretary

Registered Office 78 Churchill Avenue Subiaco Western Australia 6008 T: +61 8 9286 6399 F: +61 8 9286 6300

www.berkutminerals.com.au