KORAB RESOURCES LIMITED — Capital/Financing Update 2015

Jun 9, 2015

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FPO SHARES Issued: 153 mln Market Cap: $4 mln ASX: KOR Last Price: AU¢ 2.9 BERLIN: C6S.BE Last Price: € 0.01

KORAB RESOURCES LIMITED KORAB HOUSE

www.korab.com.au

Wednesday, 10 June 2015

WINCHESTER MAGNESITE OFFTAKE UPDATE

Korab Resources Ltd (“ Korab ”, or “ Company ”) ( ASX: KOR ) and its wholly owned subsidiary AusMag Pty Ltd (“ AusMag ”) refer to the ASX reports dated 18 February 2015, 23 February 2015, and 19 May 2015 relating to the Winchester magnesite mine financing and marketing/offtake rights agreement between Rescap Investments Pty Ltd (“ Rescap ”) and AusMag dated 18 February 2015 (“ Agreement ”).

In the report dated 19 May 2015, Korab advised that the parties could not reach an agreement regarding the terms for the extension of the due diligence period and consequently the discussions between the parties were terminated. The parties have also verbally agreed to sign a deed of release to relieve each other of all obligations arising from the Agreement.

Korab advises that AusMag will not be entering into a deed of release to relieve the parties from obligations relating to the marketing/offtake rights arising from the Agreement.

Consequently, the sections of the Agreement relating to marketing/offtake rights (which were binding) remain in full force, including the obligations to provide operational, technical, managerial and transactional support to AusMag in relation to Winchester magnesite project.

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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 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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