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CARNAVALE RESOURCES LIMITED Capital/Financing Update 2016

Jan 31, 2016

64607_rns_2016-01-31_179c7b3a-1737-4343-8f35-244cb04b5ddd.pdf

Capital/Financing Update

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MARKET RELEASE

1 February 2016

Carnavale Resources Limited

TRADING HALT

The securities of Carnavale Resources 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, 3 February, 2016 or when the announcement is released to the market.

Security Code: CAV

Jill Hewitt

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 Email: [email protected]

ASX Compliance Pty Limited ABN 26 087 780 489

CARNAVALE RESOURCES LIMITED 1 February 2016

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CARNAVALE RESOURCES

(A.C.N 119 450 243)

Mr M Piccini

ASX Compliance Pty Ltd

ASX Code: CAV Shares: 256.7M Options: 186.2M (Nov 2016 @ $0.03) Perf Shares 42.0M Cash: $0.28M (31 Dec 2015) M. Cap $1.5M (@ $0.006)

Directors

Ron Gajewski (Chairman) Andrew Beckwith (MD) Rhett Brans (NED)

Andrew Chapman (NED)

Carnavale Resources Limited is an exploration and development company based in Perth, Western Australia.

Exploration is currently advancing two prospective gold-silver-copper projects located in Arizona and Nevada, USA.

Level 40, Central Park, 152-158 St Georges Terrace

Perth, WA 6000 By email: [email protected]

Dear Mauro

TRADING HALT

Carnavale Resources Limited (“the Company”) seeks a trading halt to the quotation of its securities for the period up to the commencement of trading on Wednesday, 3 February 2016, or the earlier release of an announcement to ASX regarding a capital raising.

The Company expects to be in a position to make an announcement before commencement of trading on Wednesday, 3 February 2016 and is not aware of any reason why a trading halt should not be granted.

Yours faithfully

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Paul Jurman

Company Secretary

Office

Level 1, Suite 5 The Business Centre 55 Salvado Rd. Subiaco, WA 6008

Post

PO Box 131 Subiaco, WA 6008

Contact Details

Ph +61 8 9380 9098 Fax +61 8 9380 6761 [email protected]

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www.carnavaleresources.com