EQ RESOURCES LIMITED — Major Shareholding Notification 2012

Aug 15, 2012

603 Page 1 of 2 15 July 2001

Form 603

Corporations Act 2001

Section 671B

Notice of initial substantial holder

To Company Name/Scheme Carbine Tungsten Limited ACN/ARSN 115 009 106

1. Details of substantial holder (1)

Name Mota-Engil, Minerals & Mining Investments BV

ACN/ARSN (if applicable) Incorporated in Netherlands

The holder became a substantial holder on 14 / 08 / 2012

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
Ordinary shares	16,000,000	16,000,000	5.86%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
Mota-Engil, Minerals & MiningInvestments BV	Direct owner	16,000,000 ordinaryshares

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevantinterest	Registered holder ofsecurities	Person entitled to beregistered asholder(8)	Class and number of securities
Mota-Engil, Minerals& Mining InvestmentsBV	Mota-Engil,Minerals & MiningInvestments BV	Mota-Engil, Minerals& Mining InvestmentsBV	16,000,000 ordinaryshares

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevantinterest	Date of acquisition	Consideration (9)	Consideration (9)	Class and number of securities
		Cash	Non-cash
Mota-Engil, Minerals& Mining InvestmentsBV	10 August 2012	$2,000,000	-	16,000,000 ordinaryshares