EQ RESOURCES LIMITED — Capital/Financing Update 2013

Nov 18, 2013

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ASX ANNOUNCEMENT

19 November 2013

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

ISSUE OF SHARES & OPTIONS - CLEANSING NOTICE

Carbine Tungsten Limited ( ASX:CNQ ) is pleased to announce that is has completed the allotment of 12,904,546 ordinary fully paid shares and 6,452,273 unlisted options to raise funds primarily for use to progress activity relating to the permitting and approvals for recommencement of mining at the former open pit tungsten mine, as well as general working capital.

This notice is given by CNQ pursuant to section 708A(5)(e) of the Corporations Act 2001 (Cth) (the Act). CNQ gives notice that:

• a) On 15 November 2013, CNQ completed a placement of 12,904,546 ordinary fully paid shares and 6,452,273 unlisted options.

• b) CNQ has issued the above shares and options without disclosure to investors under Part 6D.2 of the Act.

• c) As at the date of this notice, CNQ has complied with:

  • a. The provisions of Chapter 2M of the Act as they apply to CNQ; and,

  • b. Section 674 of the Act; and

• d) As at the date of this notice, there is no information that is ‘excluded information’ within the meaning of sections 708A(7) and 708A(8) of the Act.

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Tom Bloomfield

Company Secretary

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)