EQ RESOURCES LIMITED — Capital/Financing Update 2015

Jul 1, 2015

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ASX ANNOUNCEMENT

2 July 2015

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

Carbine Tungsten Limited engages Palisade Capital for Financial and Marketing Consulting Services

Carbine Tungsten is pleased to announce that it has retained Palisade Capital Corp as an independent and non-exclusive consultant to provide marketing services and make introductions to financiers throughout the European, Canadian and U.S. investment community. Collin Kettell and Sean Zubick, the Principals of Palisade, will be primarily responsible for providing the services to the Company.

Palisade Capital is an offshore merchant banking group, specializing in high growth, small cap investments. Through its global network of private equity groups, fund managers, high net worth and retail investors, Palisade is able to create strategic relationships to drive increased liquidity and source financing. (www.palisadecapitalcorp.com)

Sean Zubick, COO of Palisade commented, “Carbine Tungsten is in the process of becoming a leading producer of tungsten in the western world. The Company is led by a world-class management team, exemplified by their ability to source a financial partner such as Mitsubishi Corporation RtM Japan Ltd. We look forward to assisting Carbine Tungsten in seeking additional financial partners and building a strong global presence as they work to bring the Mt. Carbine Tungsten Mine back into full scale production and expand the resource assets to realise the projects full potential.”

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

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)