EQ RESOURCES LIMITED — Board/Management Information 2013

Feb 24, 2013

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ASX ANNOUNCEMENT

25 February 2013

Company Announcements Office ASX Limited Exchange Centre Level 4, 20 Bridge Street SYDNEY NSW 2000

CNQ STRENGTHENS BOARD WITH APPOINTMENT OF NON-EXECUTIVE DIRECTOR

Carbine Tungsten Limited ( ASX:CNQ ) is pleased to announce the appointment of Mr. Peter Donkin as a Non-Executive Director.

Peter Donkin has extensive experience in the global metals & mining industry, having worked in senior positions in the investment banking sector for over 28 years. Most recently, Mr. Donkin was the Managing Director of the Mining Finance Division of Societe Generale in Australia, and worked in a range of positions for the bank for 21 years in both their Sydney and London offices. Mr. Donkin is currently a Director of Paladin Energy Limited and Allegiance Coal Ltd, and was previously a Director of Sphere Minerals Ltd.

Mr. Donkin’s experience primarily relates to structuring and executing transactions for mining companies, including project finance, corporate finance, acquisition finance, preexport finance, and early stage investment capital. Prior to joining Societe Generale he was an executive in the corporate and international banking division of the Royal Bank of Canada.

Peter has also been responsible for implementing and leading successful principal equity fund providing early stage equity and quasi - equity capital to mining companies moving through the exploration and feasibility study stage of their projects.

Carbine Tungsten Chairman, Leon Pretorius, commented: “We are pleased to have secured Peter Donkin as a Director, and welcome him to the Carbine Board.

“Peter’s corporate experience in the mining industry, and particularly his experience with major investment bank, Societe Generale, will assist the Board at this critical time in Carbine’s growth. Peter’s experience in supporting companies during the feasibility stage is particularly relevant as we progress the Company’s strategy to develop our Hard Rock project at Mt Carbine.”

Peter holds a Bachelor of Economics degree and a Bachelor of Law degree from the University of Sydney.

50 Scott Street, Bungalow, CAIRNS QLD 4870 - PO Box 1040, Bungalow, CAIRNS QLD 4870 Telephone: +61 (0)7 4052 2400 - Facsimile: +61 (0)7 4052 2444

Carbine Tungsten Limited ACN 115 009 106

www.carbinetungsten.com.au

(ASX: CNQ)

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Yours sincerely

Carbine Tungsten Limited.

A James Morgan Managing Director

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