EQ RESOURCES LIMITED — Capital/Financing Update 2013

Feb 11, 2013

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ASX ANNOUNCEMENT

12 February 2013

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

NOTICE UNDER ASIC CLASS ORDER (09-425)

This notice is given by Carbine Tungsten Limited ( ASX:CNQ ) pursuant to section 708A(5)(e) of the Corporations Act 2001 (Cth) (the Act).

As previously announced, CNQ intends to make an offer to each eligible CNQ shareholder to apply for up to $15,000 worth of fully paid shares in CNQ under a share purchase plan, details of which have been despatched to eligible shareholders.

CNQ confirms that:

1. CNQ will issue the new shares without disclosure to investors under Part 6D.2 of the Act.

2. This notice is given in accordance with ASIC Class Order (CO 09-425) (share and interest purchase plans).

3. 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.

4. As at the date of this notice, there is no information:

   • (a) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

   • (b) that investors and their professional advisors would reasonably require, and would reasonably expect to find in a disclosure document, for the purpose of making an informed assessment of:

     • i. the assets and liabilities, financial position and performance, profits and losses and prospects of CNQ; or

     • ii. the rights and liabilities attaching to the new shares.

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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)