EQ RESOURCES LIMITED — Capital/Financing Update 2012

Feb 26, 2012

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27 February 2012

Company Announcements Office Australian Securities Exchange

Offer Document Non-Renounceable Rights Issue

Carbine Tungsten Limited has today despatched the Offer Document for a NonRenounceable Rights Issue pursuant to which a maximum of 43,160,430 new fully paid ordinary shares may be issued on the basis of one new share for every five shares held by shareholders at an issue price of 9 cents per share.

Carbine Tungsten Limited

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