KORAB RESOURCES LIMITED — Capital/Financing Update 2013

Apr 2, 2013

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KORAB RESOURCES LIMITED KORAB HOUSE

www.korab.com.au

2 April 2013

EXTENSION OF TERM FOR WINCHESTER TRANSACTION

Korab Resources (ASX: KOR; “ Korab ” or “ the Company ”) would like to advise that it has agreed to extend to 31 May 2013 the term of the Short Form Agreement for the sale of the Winchester magnesite deposit located in the Northern Territory executed on 31 December 2012.

Augur Investments requested the extension and Korab board agreed to the request to allow for the completion of the due diligence inquiries in relation to the transaction by both parties.

Korab has already satisfied the regulatory approvals except for the pre‐consent of the Minister under the Northern Territory Mineral Titles Act. Korab has been advised that although a letter pre‐ consenting to the transfer cannot be issued, the Minister must approve and register the transfer of a mineral lease, or a mineral lease application, unless satisfied there are circumstances why he or she should refuse the application to transfer.

‐ENDS‐

FOR FURTHER INFORMATION, CONTACT:

Andrej Karpinski Executive Chairman (08) 9474 6166

ISSUED CAPITAL 134 Mln shares 44 Mln options

ASX CODES KOR KORO

MARKET CAPITALISATION $11 Mln

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LEVEL 18, CENTRAL PARK, 152-158 ST. GEORGE’S TERRACE, WA, 6000, AUSTRALIA PO BOX Z5447, PERTH, WA, 6831 AUSTRALIA TEL +61 (8) 9288 4467 FAX +61 (8) 9288 4476 ACN 082 140 252

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