KORAB RESOURCES LIMITED — Capital/Financing Update 2013

Jan 1, 2013

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KORAB RESOURCES LIMITED KORAB HOUSE

www.korab.com.au

2 January 2013

KORAB PLACES 2.17 MILLION SHARES TO AN OFFSHORE GOLD FUND

Korab Resources Limited (ASX:KOR, “Korab” or “the Company”) is pleased to announce it has agreed to issue 2.17 million shares to an offshore gold fund. The shares will be issued at 9.2 cents per share representing Korab’s closing share price.

Korab will use the proceeds from the placement to fund exploration and evaluation work at the Company’s projects and to meet ongoing working capital requirements.

The Placement is being completed pursuant to the Company’s 15 per cent capacity under ASX Listing Rule 7.1.

-ENDS-

FOR FURTHER INFORMATION, CONTACT :

ISSUED CAPITAL 123 MLN shares 44 MLN options

Andrej Karpinski Executive Chairman (08) 9474 6166

ACN 082 140 252 Level 1, Suite 6 100 Mill Point Rd, South Perth, WA, 6151 Australia PO Box 195, South Perth, WA, 6951 Australia Tel (08) 9474 6166 Fax (08) 9474 6266

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