EQ RESOURCES LIMITED — Board/Management Information 2012

Jan 19, 2012

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MARKET RELEASE

20 January 2012

CARBINE TUNGSTEN LIMITED

TRADING HALT

The securities of Carbine Tungsten 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 Tuesday, 24 January 2012 or when the announcement is released to the market.

Security Code: CNQ

Stephanie So Adviser, Listings (Sydney)

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20 January 2012

Ms S So Advisor, Listings (Sydney) Australian Securities Exchange

Dear Stephanie

Request for Trading Halt

I hereby apply for a trading halt on the Company’s traded securities under Listing Rule 17.1 for a period of up to two days pending an announcement to the market concerning imminent Company Director and management transition and more permanent changes following the resignation of the Managing Director.

The Company expects to make an announcement concerning this matter before trading commences on Tuesday, 24 January 2012 to end the trading halt. The Company is not aware of any reason why the trading halt should not be granted.

Yours sincerely

Carbine Tungsten Limited

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Robert J Waring

Company Secretary

Carbine Tungsten Limited

ACN 115 009 106 Registered Office: Suite 505, Level 5, 35 Lime Street, Sydney NSW 2000, Tel: +61 2 9279 1252, Fax: +61 2 9279 2727 Cairns Office: 50 Scott Street, Bungalow Queensland 4870, Tel: +61 7 4052 2400, Fax: +61 7 4052 2444