EQ RESOURCES LIMITED — Board/Management Information 2014

Apr 16, 2014

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ASX ANNOUNCEMENT

17 April 2014

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

Carbine Tungsten Limited Appoints Chief Financial Officer

The Board of Directors of Carbine Tungsten Limited (“The Company” or “Carbine”) (ASX Code: CNQ) is pleased to announce the appointment today of Mr David Clark as Chief Financial Officer (“CFO”) for Carbine.

Mr Clark’s appointment significantly strengthens the Company’s corporate team and adds a broad depth of financial management and financial planning experience to the Company’s senior management team at a time of increasing activity within the Company’s corporate and financial activities. Mr Clark joins the Company at a time of high growth as it prepares for significantly increased production and corporate activities associated with its Mt Carbine Hard Rock operations. Mr Clark’s prior experience in CFO and accounting positions and his long term experience and qualifications in the accounting, finance and corporate governance fields makes him ideally suited to this position.

Mr Clark is a Chartered Accountant, Tax Agent and Chartered Secretary of over fifteen (15) years standing and holds a Bachelor of Commerce from UNSW and a Master of Business of Administration (Executive) from the Australian Graduate School of Management. Mr Clark is principal of D.W. Clark & Co., Chartered Accountant, an innovative, results-driven chartered accounting practice providing financial and taxation services and advice to a select number of public and private companies in the mineral resources, exploration and oil and gas industries. Mr Clark’s early career was in the audit division of Peat Marwick Mitchell & Co., Chartered Accountants and the insolvency division of Duesburys, Chartered Accountants. Mr Clark has worked as a CFO and Company Secretary of a privately funded group of biotechnology companies and has advised other organisations in real estate and franchise services, professional services, transportation and industrial waste industries and sporting clubs within the not-for-profit sector. Mr Clark is also on the audit, risk and finance committee of an international global health organisation with its principle mission being to tackle health care issues affecting high-risk and disadvantaged people worldwide. Prior to joining Carbine, Mr Clark was CFO of a group of companies involved in developing and marketing activated carbons specifically designed for Mercury capture in the USA coal-fired power utilities markets.

Carbine Tungsten Limited ACN 115 009 106

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

www.carbinetungsten.com.au

(ASX: CNQ)

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Carbine’s Managing Director, Jim Morgan, said: “The Board and I warmly welcome David to Carbine’s senior management team at this exciting time of increasing activity within the Company. David has been involved with Carbine now for some time in an accounting capacity and is well known and respected by our Board. We look forward to benefiting from David’s strong skills during this period of high growth for the Company.

Jim Morgan

Chief Executive Officer & Managing Director Carbine Tungsten Limited E: info@carbinetungsten.com.au W: www.carbinetungsten.com.au

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