HAWSONS IRON LTD — Capital/Financing Update 2014

Oct 26, 2014

ASX Announcement

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27 October 2014

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

Dear Shareholders,

This Announcement is to advise that, due to an Unpaid Monies Default Event occurring on 21[th] October 2014 under the Hawsons Iron Project Exploration Joint Venture dated 4[th] May 2013 between Carpentaria Exploration Limited (ACN 095 117 981) and Pure Metals Pty Ltd (ACN 151 066 321) Carpentaria served a Non-Payment Notice to joint venture partner Pure Metals on Friday 24[th] October, 2014.

The Non-Payment Notice relates to an unpaid called sum that was due on 21[st] October 2014 and was part of Pure Metals Pty Ltd, 40% pro-rata contributions to develop the Hawsons Iron Project for 2014/15 agreed programme and budget.

Pure Metals has 7 days from the Non-Payment Notice date in which it may;

• (i) elect to remedy the default by paying the relevant amount of $246,719.39 and interest in accordance with clause 11.4; or

• (ii) notify the Manager that it elects for the remedy for non-payment to be a dilution of its Joint Venture Interest under clause 11.3 ( Dilution Election ).

Carpentaria will continue to keep the market informed.

For further information please contact:

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Chris J Powell Company Secretary / CFO Carpentaria Exploration Limited +61 7 3220 2022 chris.powell@capex.net.au

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Level 6, 345 Ann St Brisbane Queensland 4000 PO Box 10919, Adelaide Street, Brisbane Queensland 4000 Phone: + 61 7 3220 2022 Fax: + 61 7 3220 1291 info@capex.net.au www.capex.net.au

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