CARNAVALE RESOURCES LIMITED — Interim / Quarterly Report 2018

Oct 30, 2017

CARNAVALE RESOURCES LIMITED 31 October 2017

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QUARTERLY ACTIVITY REPORT

CARNAVALE RESOURCES

(A.C.N 119 450 243)

ASX Code: CAV Shares: 572M Options: 60.0M (Dec 2019 @ $0.02)

Directors

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

For the period ended 30 September 2017

Carnavale Resources Limited (“CAV” or “the Company”) reports on activities completed during the quarter to 30 September 2017.

New Opportunities

During the quarter, field visits were undertaken on two advanced Cobalt (Co), Copper (Cu) projects and a Gold (Au project) within Australia and Africa as part of due diligence enquiries. Unfortunately, due diligence could not be satisfactorily concluded, and negotiations were terminated.

The Company continues to actively evaluate new projects ranging from early greenfields exploration to advanced near term resource potential with a primary focus on gold, cobalt and lithium in prospective geological regions around the world.

The Company has sufficient funding to continue its exploration activities and proceed with new project opportunities.

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

Office

Level 2, Suite 9 389 Oxford Street Mount Hawthorn Western Australia 6016

Lake Roe Project – Au (100% CAV)

The Company continues its review of its Lake Roe Project to determine the best approach to obtain value for the Project. The Company is assessing all options including additional drilling or joint venture opportunities.

Corporate

The cash balance at the end of the quarter is $1.29 million.

Post

PO Box 281 Mount Hawthorn WA 6915

Contact Details

Ph +61 8 9380 9098 Fax +61 8 9380 6761

For further information contact:

Ron Gajewski Andrew Beckwith Chairman Director P: +61 8 9380 9098 P: +61 8 9380 9098

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www.carnavaleresources.com

CARNAVALE RESOURCES LIMITED 31 October 2017

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Appendix 1

Carnavale Resources Limited (ASX: CAV) provides the following addendum in relation to additional information required by Listing Rule 5.3.3.

Schedule of Mining Tenements, Beneficial Interests and agreements

Held as at the end of the Quarter

	Project/Location Country Tenement Percentage held/earning Roe Project – Western Australia Australia EL 28/2303 EL 28/2304 100% Schedule of Mining Tenements, Beneficial Interests and agreements Acquired during the Quarter
	Project/Location Country Tenement Percentage held/earning
	N/A.

Schedule of Mining Tenements, Beneficial Interests and agreements Disposed of during the Quarter

Project/Location	Country	Tenement	Percentage held/earning
N/A

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www.carnavaleresources.com