CARNAVALE RESOURCES LIMITED — Interim / Quarterly Report 2017

Apr 27, 2017

CARNAVALE RESOURCES LIMITED 28 April 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) Andrew Chapman (NED)

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

For the period ended 31 March 2017

Carnavale Resources Limited (“CAV” or “the Company”) reports on activities completed during the quarter to 31 March 2017.

Highlights

Lake Roe Project – Au (100% CAV)

During the period, the Company assessed various geophysical techniques that may aid in targeting structures prior to committing to further drilling. The Company is also assessing Joint Venture opportunities on the project area.

New Projects

The Company has continued to undertake due diligence on various projects which are at the advanced exploration / evaluation stage. The current projects under review are in South America, Mexico and Africa.

Corporate

The Company completed a capital raising in February 2017 and the cash balance at the end of the quarter is $1.542 million.

Office

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

For further information contact:

Post

PO Box 281 Mount Hawthorn WA 6915

Contact Details

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

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 28 April 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 March 2017 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 March 2017 Quarter
	Project/Location Country Tenement Percentage held/earning
	N/A.

Schedule of Mining Tenements, Beneficial Interests and agreements

Disposed of during the March 2017 Quarter

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

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www.carnavaleresources.com