KORAB RESOURCES LIMITED — Capital/Financing Update 2012

Mar 22, 2012

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Perth, 23 March 2012

NOTICE GIVEN UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT

This notice is given by the Company under section 708A(5)(e) of the Corporations Act 2001 (Cth) (“ Act ”).

The following securities of the Company were or are planned to be issued without disclosure to investors under Part 6D.2 of the Corporations Act.

Type of Security:	shares
Class:	ordinaryfully paid
ASX Code:	KOR
Date of Issue:	30 March 2012
Number Issued:	13,200,000
Issue price per Security:	13.5 cents

As at the date of this notice, the Company has complied with:

(a) the provisions of Chapter 2M of the Act as they apply to the Company; and (b) section 674 of the Act.

The directors plan to issue within 45 days and subject to shareholder approval, 5,000,000 listed options with an exercise price of 25 cents per option to Company’s corporate advisor. It is the directors’ current, but not irrevocable, intention to offer shareholders the right to acquire a loyalty option following completion of the Placement. The terms of any loyalty options that might be issued have yet to be finalised. The Company confirms that, as at the date of this notice, there is no excluded information required to be disclosed under section 708A(6)(e) of the Act.

Dated: 23 March 2012

___________________________ Andrej Karpinski, Director

KORAB RESOURCES LIMITED KORAB HOUSE

LEVEL 1, SUITE 6, 100 MILL POINT ROAD, SOUTH PERTH, 6151, WESTERN AUSTRALIA PO BOX 195 SOUTH PERTH WA 6951 AUSTRALIA, Tel (08) 9474 6166 Fax (08) 9474 6266 www.korabresources.com.au

ACN 082 140 252