HAWSONS IRON LTD — Capital/Financing Update 2017

Nov 2, 2017

ASX ANNOUNCEMENT

==> picture [185 x 39] intentionally omitted <==

3 November 2017

Rights Issue Shortfall Notification

Carpentaria Resources Limited (ASX:CAP) announced today it has successfully raised $612,659 from the Rights Offer announced on 6 October 2017, resulting in a shortfall of $685,299. Combined with the recent private placement of $776,600, including to new and existing institutional investors, a total of $1,389,259 has been raised.

Total cash on settlement will be approximately $1,766,210.

Welcoming the high participation by shareholders in the rights issue, Managing Director, Quentin Hill, said the funding would be used to continue the development of the Company’s flagship Hawsons Iron Project near Broken Hill, NSW.

“The bulk of these funds will be used for critical path items of the environmental assessment of the Hawsons Project, including final ecology surveys, water monitoring drilling within the proposed pit area and other required works to ensure the Hawsons project schedule is maintained,” he said.

The funding also provides working capital while the Company uses the recent world leading prefeasibility study results to attract the right funding option for the bankable feasibility study.

The Company expects to place the rights issue shortfall in the near future.

For further information please contact:

Mr Quentin Hill Managing Director Tel +61 7 3220 2022

==> picture [595 x 27] intentionally omitted <==

==> picture [71 x 71] intentionally omitted <==

CONNECT WITH US:

==> picture [28 x 28] intentionally omitted <==

==> picture [28 x 28] intentionally omitted <==

==> picture [29 x 28] intentionally omitted <==

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.carpentariaex.net.au ABN 63 095 117 981 ASX: CAP

We find it, We prove it, We make it possible