CARNABY RESOURCES LIMITED — Capital/Financing Update 2017

Jun 19, 2017

ASX Announcement 20 June 2017

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Company Announcements Office Australian Securities Exchange Limited

RESTRICTED SECURITIES TO BE RELEASED FROM ESCROW

Pursuant to ASX listing rule 3.10A, Berkut Minerals Limited confirms that 2,237,500 fully paid ordinary shares will be released from escrow on 30 June 2017.

Yours sincerely,

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Aaron Bertolatti Company Secretary

Fast Facts Shares on Issue: 47.3M Cash in Bank: ~$4.3M

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

Ben Cairns, Chief Executive Officer Aaron Bertolatti, Company Secretary

• Company Highlights

• ▪ 100% owned European cobalt projects in Norway and Sweden

• Earning 70% of the Cairn Hill project 40km WNW of Paraburdoo.

• 100% owned Mt Clement Project (under application) prospective for gold and base metals 35km SW of Paulsens Gold Mine

• 100% owned Capricorn Li Project (under application)

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