HAWSONS IRON LTD — Capital/Financing Update 2017

Oct 5, 2017

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Carpentaria Exploration Limited

Rights Issue – Cleansing Notice under section 708AA(2)(f) of the Corporations Act 2001 (Cth)

On 6 October 2017, Carpentaria Exploration Limited (ABN 63 095 117 981) (ASX:CAP) ( CAP or Company ) announced a non-renounceable pro rata entitlement offer of approximately 18,026,356 fully paid ordinary shares in the Company ( Rights Issue ).

Eligible shareholders will be entitled to subscribe for 1 ordinary share ( New Share ) for every 10 ordinary shares held in the Company at 7:00pm (AEDT) on the Record Date, being 11 October 2017. Each New Share will be issued at an issue price of $0.072 to raise approximately $1,297,898.

Further details regarding the Rights Issue are set out in the Offer Document lodged with ASX on 6 October 2017, and in the Announcement.

The Company hereby gives notice that:

• (a) The New Shares will be offered for issue without disclosure to investors under Part 6D.2 of the Corporations Act 2001 (Cth);

• (b) This notice is being given under section 708AA(2)(f) of the Corporations Act, as modified by ASIC Corporations (Non-Traditional Rights Issues) Instrument 2016/84;

• (c) as at the date of this notice, the Company has complied with:

  • (i) the provisions of Chapter 2M of the Act as they apply to the Company; and

  • (ii) section 674 of the Act;

• (d) as at the date of this notice, there is no information that is ‘excluded information’ (within the meaning of sections 708AA(8) and 708AA(9) of the Act); and

• (e) the potential effect that the issue of New Shares under the Rights Issue will have on the control of the Company is as follows:

  • (i) if all eligible shareholders take up their entitlement under the Rights Issue, the issue of New Shares under the Rights Issue will have no effect on the control of the Company, and all shareholders will hold the same percentage interest in the Company, subject only to changes resulting from ineligible shareholders being unable to participate in the Rights Issue;

  • (ii) to the extent that any Eligible Shareholder fails to take up their entitlements under the Entitlement Offer, that Eligible Shareholder’s percentage holding of shares in the Company will be diluted by the issue of the New Shares;

  • (iii) ineligible shareholders who are unable to participate in the Rights Issue will be diluted relative to those shareholders who subscribe for some or all of their entitlement.

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CONNECT WITH US:

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ABN 63 095 117 981 ASX : CAP

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

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

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• (iv) in the event that there is a shortfall, eligible shareholders who do not subscribe for their full entitlement of New Shares under the Rights Issue and ineligible shareholders unable to participate in the Rights Issue will be diluted relative to those shareholders who subscribe for some or all of their entitlement.

Bob Hair Company Secretary