CORELLA RESOURCES LTD — Board/Management Information 2016

May 22, 2016

A

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17 May 2016

Ms Frieda Orr ASX Compliance Pty Ltd Level 40, Central Park 152-158 St Georges Terrace Perth WA 6000

SATISFACTION OF CONDITIONS, COMPLETION OF ALLOTMENT & ISSUE & COMPLIANCE, APPOINTMENT & RESIGNATION OF DIRECTORS

The Gruden Group Limited ( Company ) confirms that it has satisfied the conditions precedent to the acquisition of all of the issued capital of Gruden Pty Ltd, Mobile Den Pty Ltd and Blackglass Pty Ltd.

Accordingly, the Company confirms completion of the allotment and issue of the following Consideration Securities to the shareholders of the companies comprising the Gruden Group:

1. 185,000,000 fully paid ordinary shares;

2. 90,000,000 Class A Performance Shares; and

3. 90,000,000 Class B Performance Shares.

The Company confirms that there are no legal, regulatory or contractual impediments to the Company undertaking the activities the subject of the commitments disclosed in the Information Memorandum dated 17 March 2016.

Pursuant to the terms of the acquisition Mr Warren Barry and Mr Todd Trevillion have been appointed as directors of the Company and Mr Neville Bassett has resigned as a director.

The Company confirms that it is in compliance with the Listing rules and in particular Listing Rule 3.1.

Unless otherwise defined, defined terms have the same meaning as given them in the Information Memorandum issued by the Company dated 17 March 2016.

Yours faithfully,

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N J Bassett Company Secretary

The Gruden Group Limited | ACN 125 943 240 | c/-Westar Capital Limited, Level 4, 216 St Georges Terrace, Perth WA 6000 PO Box 7315 Perth WA 6850 | T +61 8 6268 2622 | F +61 8 9486 8066 | E: info@exoma.net | www.exoma.net