CARNAVALE RESOURCES LIMITED — Board/Management Information 2011

Mar 1, 2011

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2 March 2011

The Manager ASX Ltd Level 4, 20 Bridge Street Sydney, NSW 2000

Dear Sir

RESIGNATION OF DIRECTOR

Carnavale Resources Limited’s Chairman, Mr Adam Sierakowski has resigned as a director due to increasing work commitments. The Directors record their appreciation of Mr Sierakowski’s contribution to the Company since the listing of the Company.

The Directors have appointed Mr Ron Gajewski as an interim Chairman.

Yours faithfully

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Paul Jurman Company Secretary

CARNAVALE RESOURCES LIMITED

ABN 49 119 450 243 30 Ledgar Road, Balcatta Western Australia 6021 T: +61 8 9240 6876 F: +61 8 9240 2406 E: admin @carnavaleresources.com W: www.carnavaleresources.com