KORAB RESOURCES LIMITED — Capital/Financing Update 2015

Jul 16, 2015

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FPO SHARES Issued: 194 mln Market Cap: $7 mln ASX: KOR Last Price: AU¢ 3.5 BERLIN: C6S.BE Last Price: € 0.01

KORAB RESOURCES LIMITED KORAB HOUSE

www.korab.com.au

Friday, 17 July 2015

GEOLSEC PHOSPHATE MARKETING/SALES PROGRESS

As a matter of compliance with continuous disclosure obligations, Korab Resources Ltd (“ Korab ”, or “ Company ”) ( ASX: KOR ) is pleased to advise that its wholly owned subsidiary Geolsec Phosphate Operations Pty Ltd (Geolsec) has received additional requests for rock phosphate samples from a major overseas fertiliser manufacturer and from an operator of timber plantations. Geolsec has also received a request for quotation from a large overseas distributor to supply 100,000+ tonnes of phosphate rock on CFR basis.

Geolsec has reported in June 2015 that following receipt of positive initial test results from samples provided earlier by Geolsec to one of the largest fertiliser companies in Indonesia, “PT Petrokimia Gresik”, Geolsec has been asked to provide additional samples for further testing. PT Petrokimia Gresik currently buys approximately 1.5 mln tonnes of rock phosphate per year from several suppliers. Positive result from initial testing by one of the dominant players in the fertiliser market and their request for additional material from Geolsec are very positive indications for Geolsec project and could potentially lead to significant future sales. These samples have already been forwarded to the potential client.

Korab Resources Executive Chairman, Mr Andrej Karpinski, said that Geolsec is actively pursuing all potential sales leads and is in ongoing contact and discussions with buyers and distributors with the aim of signing supply agreements.

“These additional requests for samples and quotations on large scale supply contracts indicate that although the phosphate market has been under considerable pressure in the last 12 months, the quality of the Geolsec rock and the logistic advantage of the project continue to generate strong interest from buyers and distributors which we hope will eventually translate into material sales and revenue.” Mr. Karpinski said.

BACKGROUND TO GEOLSEC PHOSPHATE DEPOSIT

Location of the Geolsec project, just south of the port of Darwin and within a short distance to majority of Asian ports (see Figures 1 and 2) gives Geolsec significant advantage over phosphate producers located in Africa and the Middle East when supplying Asian and Australian buyers and distributors. Furthermore, being located next to trans-continental rail-way link and highway connecting Darwin to Queensland, NSW, Victoria and the Ord River agricultural region in WA, Geolsec has excellent access to the main agricultural regions in all Australian states.

The primary target markets for the domestic sales of the direct shipping phosphate rock, ground-up phosphate rock and phosphate rock blends, are organic farmers in Queensland, Victoria, New South Wales, South Australia and WA, plantations and pastoralists around Darwin (NT), and fruit growers in Ord River area (WA).

The primary target markets for the overseas sales of the direct shipping phosphate rock are Asian distributors and end users. Geolsec direct application phosphate rock has a potential to provide substantial ongoing benefits to the environment by improving soil fertility and improving nutritional quality of produce grown on fields fertilised with phosphate rock and phosphate rock products. More information about Geolsec’s benefits and the benefits of direct application of phosphate rock to soils is available from Korab website at www.korabresources.com.au/geolsec

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20 PROWSE STREET, WEST PERTH, WA, 6005, AUSTRALIA PO BOX 1958, WEST PERTH, WA, 6872, AUSTRALIA TEL (08) 9474 6166 FAX (08) 9322 6333 ACN 082 140 252

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FPO SHARES Issued: 194 mln Market Cap: $7 mln ASX: KOR Last Price: AU¢ 3.5 BERLIN: C6S.BE Last Price: € 0.01

KORAB RESOURCES LIMITED KORAB HOUSE

www.korab.com.au

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Figure 1 Geolsec phosphate deposit located 85 km south of port of Darwin near town of Batchelor. Deposit is close to a highway, rail, water, gas, and power.

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Figure 2 Geolsec deposit location relative to town of Batchelor, basic infrastructure and topography.

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CONTACT:

Andrej K Karpinski, Executive Chairman - Australia: (08) 9474 6166, International: +61 8 9474 6166

ABOUT KORAB RESOURCES

Korab Resources Ltd is an international mining and exploration company with operations in Australia and Europe. Korab’s projects include gold and silver mine at Bobrikovo in Ukraine, Geolsec phosphate mine located 80km from Darwin in the Northern Territory of Australia and Winchester

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20 PROWSE STREET, WEST PERTH, WA, 6005, AUSTRALIA PO BOX 1958, WEST PERTH, WA, 6872, AUSTRALIA TEL (08) 9474 6166 FAX (08) 9322 6333 ACN 082 140 252

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FPO SHARES Issued: 194 mln Market Cap: $7 mln ASX: KOR Last Price: AU¢ 3.5 BERLIN: C6S.BE Last Price: € 0.01

KORAB RESOURCES LIMITED KORAB HOUSE

www.korab.com.au

magnesite deposit located 75km from Darwin in the Northern Territory of Australia. The Company also explores for gold and copper at Ashburton Downs in Western Australia and for polymetallic deposits at Batchelor in the Rum Jungle mineral field in the Northern Territory of Australia. More information about Korab’s projects can be sourced from Korab’s website at www.korab.com.au. Korab’s shares are traded on Australian Securities Exchange (ASX) and on the Berlin Stock Exchange (Berliner Börse) through Equiduct electronic trading platform.

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20 PROWSE STREET, WEST PERTH, WA, 6005, AUSTRALIA PO BOX 1958, WEST PERTH, WA, 6872, AUSTRALIA TEL (08) 9474 6166 FAX (08) 9322 6333 ACN 082 140 252

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