EQ RESOURCES LIMITED — Capital/Financing Update 2017

Mar 19, 2017

MARKET RELEASE

20 March 2017

CARBINE TUNGSTEN LIMITED

TRADING HALT

The securities of Carbine Tungsten Limited (the “Company”) will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in Trading Halt Session State until the commencement of normal trading on Wednesday, 22 March 2017.

Security Code: CNQ

Belinda Chiu

SENIOR ADVISER, LISTINGS COMPLIANCE

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20 March 2017

Mr Joshua Strutt Adviser, Listings Compliance ASX Compliance Pty Limited 20 Bridge Street Sydney NSW 2000

Dear Joshua

Carbine Tungsten Limited (Carbine or the Company) hereby requests a trading halt from the ASX pending an announcement regarding a capital raising.

Carbine requests that the trading halt commence immediately, Monday 20 March 2017 and remain in place until the commencement of trading on Wednesday 22 March 2017 or upon release of an Announcement regarding the capital raising, whichever is the earlier.

Carbine is not aware of any reason why the trading halt should not be granted.

Carbine is not aware of any other information necessary to inform the market about the trading halt.

Yours sincerely

Carbine Tungsten Limited

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DW Clark

Company Secretary

Carbine Tungsten Limited ACN 115 009 106 Level 2, 420 Collins Street, Melbourne VIC 3000 - PO Box 1496 MAREEBA QLD 4880 Telephone: +61 (0)3 8687 2176 - Facsimile: +61 (0)7 4094 3036 www.carbinetungsten.com.au

(ASX: CNQ)