KORAB RESOURCES LIMITED — Capital/Financing Update 2017

Oct 17, 2017

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K O RA B R E SO U RC E S LIMI T ED KORAB H OUSE www.korab.co m .au

18 Oc t ober 2017

KORAB A CQUI R ES PI L BAR A GOL D IN T ERES T S

• 100% interest in 7 exploration licence applications located near Castle Minerals, Artemis Resources, and Novo Resources Corp tenements with similarly prospective stratigraphies

• Pilbara gold interests comprise three projects in West Pilbara (near Karratha), and four projects in East Pilbara (near Nullagine and Marble Bar) including Castle Bravo project located near Coolyia Creek

• Prospective conglomerate horizons and basalt identified in GSWA mapping with potential for Witwatersrand-style conglomerate gold

Korab Resources Ltd (“ Korab ”, o r “ Company ”) ( ASX: KOR ) is very pl e ased to adv i se that it ha s secur e d the rights[1] to 100% inte r est in 7 exploration licence application s in East Pilbara and West Pilbar a districts. Pr o jects encom p ass the prospective basal t conglomera t e horizons ( a s identified i n GSW A mapping) wi t h potential fo r Witwatersra n d-style conglomerate gold .

The e x ploration ap p lications co m prise a total of 210 square kilometers and provide Korab with a strong entry point in t o the Pilbara . Korab’s chairman A ndre K Karpinski commented: “This is a n opportuni s tic acquisitio n . The Pilbar a East and Pilbara W e st projects are our initial g old interests in the area. T his acquisiti o n is based o n sound geological examination of g overnment a n d historical p rospecting a n d exploration data.”

Issue d Capital

Shares: 288 mln Options: 4 mln Last Price: 2.6 cents Market Cap : $7.49 Mln ASX: KOR BERLIN: C6S.BE

“Thes e projects could potentially contribute si g nificantly to K orab. They fi t -in very well with our other intere s ts at Mt. Ele p hant in WA, a nd at Batch e lor in the No r thern Territo r y, where Kor a b is currentl y undert a king a multi s tage drilling p rogram for c o balt, gold, sil v er, copper, a n d other minerals.”

Geolo g ical Survey of Western A ustralia (GS W A) geological map data (50,000:1, 1 0 0,000:1, an d 250,0 0 0:1 sheet series geolog i cal mappin g ) and vario u s mineral r e ports were used in th e exami n ation and re s earch of the p roject areas. Pilbara portf o lio consist of 4 5/5047, 46/1212, 46/1211, 47/38 6 6, 47/3863, 47/3864, 47/3 8 65.

CONT A CT:

Andrej K. Karpinski, Executive C h airman - Aus t ralia: (08) 94 7 4 6166, Inter n ational: +61 8 9474 6166

P rojects

Winchester (NT) Magne s ium carbonate (MgCO3) Geolsec (NT) P hosphate rock (P2O5) Batchelor (NT) Au, Ag, Zn, Pb, Ni, Cu, Co Mt. Elephant (WA) Au, Cu Bobrikovo (UKR) Au, Ag, Pb

ABOU T KORAB R E SOURCES

Korab Resources Ltd is an intern a tional minin g and exploration company with operatio n s in Australi a and E urope. Kora b ’s projects i nclude Winc h ester magn e sium carbo n ate deposit and Geolse c phosp h ate rock dep o sit at Batch e lor in the Nor t hern Territor y of Australia, as well as a g old and silver deposit at Bobrikov o in eastern U kraine. The C ompany also explores for c obalt, gold, n ickel, copper, zinc, l e ad and silver, as well as s p ecialty mine r als at Batchelor and at Gr e en Alligator i n the Norther n Territory and for g o ld and cop p er at Mt. El e phant/Ashbu r ton Downs i n Western Australia. Mor e inform a tion about K orab’s proje c ts can be sourced from Korab’s web s ite at www. k orab.com.au. Korab’s shares ar e traded on A ustralian S e curities Exc h ange (ASX) and on the Berlin Stoc k Excha n ge (Berliner B örse) through Equiduct el e ctronic tradi n g platform.

1 All ex p lorations licence applications we r e secured throu g h direct application.

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20 P R OWSE STRE E T, WEST PE R TH, WA, 600 5 , AUSTRALIA PO B OX 1958, WE S T PERTH, W A , 6872, AUST R ALIA TEL ( 08) 9474 6166 FAX (08) 93 2 2 6333 ACN 082 140 252 PAGE 1

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Issue d Capital

Shares: 288 mln Options: 4 mln Last Price: 2.6 cents Market Cap : $7.49 Mln ASX: KOR BERLIN: C6S.BE

P rojects

Winchester (NT) Magne s ium carbonate (MgCO3) Geolsec (NT) P hosphate rock (P2O5)

Batchelor (NT) Au, Ag, Zn, Pb, Ni, Cu, Co Mt. Elephant (WA) Au, Cu Bobrikovo (UKR) Au, Ag, Pb

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K O RA B R E SO U RC E S LIMI T ED KORAB H OUSE www.korab.co m .au

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Figure 1 Castle Bravo project

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Figure 2 Nullagine Alfa project

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20 P R OWSE STRE E T, WEST PE R TH, WA, 600 5 , AUSTRALIA PO B OX 1958, WE S T PERTH, W A , 6872, AUST R ALIA TEL ( 08) 9474 6166 FAX (08) 93 2 2 6333 ACN 082 140 252 PAGE 2

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K O RA B R E SO U RC E S LIMI T ED KORAB H OUSE www.korab.co m .au

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Figure 3 Nullagine Bravo project

COMPETENT PER S ON STATE M ENT

Issue d Capital

Shares: 288 mln Options: 4 mln Last Price: 2.6 cents Market Cap : $7.49 Mln

ASX: KOR BERLIN: C6S.BE

The information in t his report th a t relates to e xploration re s ults reporte d in this repo r t is based o n inform a tion compile d by the Com p any and revi e wed by Malcolm Castle, a competent p e rson who is a Memb e r of the Au s tralasian Ins t itute of Mining and Metallurgy (“AusI M M”). Malcol m Castle is a consul t ant geologis t employed b y Agricola M ining Consultants Pty Lt d . Mr Castle has sufficient experi e nce that is r e levant to the style of mine r alisation and type of depo s its under con s ideration an d to the activity being undertaken t o qualify as a Competent P erson as de f ined in the 2012 edition of the “A u stralasian C o de for Repo r ting of Explo r ation Result s , Mineral Re s ources and O re Reserves ” (“JOR C Code”). Malcolm Castle c onsents to t h e inclusion i n this report of the matters based on thi s inform a tion in the fo r m and conte x t in which it a ppears.

DISC L AIMER AND CAUTIONAR Y STATEME N T

P rojects

Winchester (NT) Magne s ium carbonate (MgCO3) Geolsec (NT) P hosphate rock (P2O5) Batchelor (NT) Au, Ag, Zn, Pb, Ni, Cu, Co Mt. Elephant (WA) Au, Cu Bobrikovo (UKR) Au, Ag, Pb

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Forwa r d-looking statements are s tatements that are not historical facts. W ords such a s “expect(s)”, “expe c ted”, “feel(s) ” , “believe(s)”, “will”, “may”, “anticipate ( s)”, “should” , “envisage(s ) ” and similar expre s sions are int e nded to iden t ify such forward-looking information. T h is informatio n includes, but is not limited to s tatements r e garding futu r e exploratio n results, re s ources, or r eserves, an d produ c tion. Anyone reading this report is cau t ioned not to place undue reliance on these forward - lookin g statements. All of such s t atements are subject to ri s ks and unce rt ainties (man y of which ar e difficul t to predict and which ge n erally are b e yond the co n trol of the C ompany) that could caus e actual results to dif f er materially from those e xpressed in, or implied or projected b y , the forward - lookin g information and stateme n ts. These ri s ks and unc e rtainties incl u de, but are not limited to: those relating to th e interpretati o n of exploration results (including drill r esults), the geology, grad e and c o ntinuity of mi n eral deposit s and conclusions of econo m ic evaluatio n s; risks relating to possibl e variati o ns in reserv e s, grade, min i ng dilution, o r e loss, and r e covery rates; risks relating to changes i n projec t financial an d technical p a rameters; ri s ks relating t o the potenti a l for delays in exploratio n programs, project e v aluation/revi e w, completi o n of feasibilit y studies and project development; risk s

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20 P R OWSE STRE E T, WEST PE R TH, WA, 600 5 , AUSTRALIA PO B OX 1958, WE S T PERTH, W A , 6872, AUST R ALIA TEL ( 08) 9474 6166 FAX (08) 93 2 2 6333 ACN 082 140 252 PAGE 3

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K O RA B R E SO U RC E S LIMI T ED KORAB H OUSE www.korab.co m .au

relate d to commodity prices and f oreign exch a nge rate fluctuations; risks related to failure to secur e adequ a te financing on a timely b asis and on acceptable t e rms; risks re l ated to dela y s in obtainin g gover n mental, or ot h er permits a n d approvals; risks related to security of tenure; and o ther risks an d uncert a inties relate d to the Com p any’s prosp e cts, properti e s and busin e ss strategy. Any forward - lookin g information contained in this report is provided a s of the dat e of this rep o rt. Except a s requir e d under applicable listing r ules and se c urities laws, t he Company does not int e nd, and doe s not as s ume any obl i gation, to up d ate this forw a rd-looking in f ormation. Pil b ara East an d Pilbara West projec t s are considered to be of early stage, gr a ss roots exploration statu s .

Issue d Capital

Shares: 288 mln Options: 4 mln Last Price: 2.6 cents Market Cap : $7.49 Mln

ASX: KOR BERLIN: C6S.BE

P rojects

Winchester (NT) Magne s ium carbonate (MgCO3) Geolsec (NT) P hosphate rock (P2O5)

Batchelor (NT) Au, Ag, Zn, Pb, Ni, Cu, Co Mt. Elephant (WA) Au, Cu Bobrikovo (UKR) Au, Ag, Pb

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20 P R OWSE STRE E T, WEST PE R TH, WA, 600 5 , AUSTRALIA PO B OX 1958, WE S T PERTH, W A , 6872, AUST R ALIA TEL ( 08) 9474 6166 FAX (08) 93 2 2 6333 ACN 082 140 252 PAGE 4