CARNABY RESOURCES LIMITED — Capital/Financing Update 2018

Aug 16, 2018

ASX Announcement 17 August 2018

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Company Announcements Office Australian Securities Exchange Limited

Fast Facts Shares on Issue 54.3M Market Cap (@11cents) $5.7M Cash (30 June 2018) $3.7M

RESTRICTED SECURITIES TO BE RELEASED FROM ESCROW

Pursuant to ASX listing rule 3.10A, Berkut Minerals Limited (ASX:BMT) confirms that the following securities will be released from escrow:

Security description	Release Date	Number
Ordinary Fully Paid Restricted (voluntary escrow)	23 August 2018	2,750,000
Ordinary Fully Paid Restricted	30 August 2018	11,179,165
Options Restricted - Expiring 31 December 2019, exercisable at $0.25	30 August 2018	1,500,000

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

Ben Cairns, General Manager 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

Yours sincerely,

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Aaron Bertolatti Company Secretary

• 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 80km[2]

• Tight capital structure

• Well-funded | Strong cash position

Registered Office

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