KORAB RESOURCES LIMITED — Capital/Financing Update 2017

May 3, 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

4 May 2017

NOTICE UND E R SECTI O N 708A( 5 )(E) OF THE CORP O RATIONS ACT

Korab Resources L imited ( ASX : KOR ; “ Korab ” or “ Company ”) refers to the Offer Memorandu m lodge d with ASX on 7 April 2017 in relation to a party under w ritten one fo r six non-ren o unceable pro - rata ri g hts issue pri c ed at $0.019 p er new shar e ( Offer ).

The C ompany giv e s notice un d er section 7 08A(5)(e) of the Corpora t ions Act 20 0 1 (Cth) ( the Corporations Act ) in relation to t he 14,234,7 3 9 fully paid ordinary share s in the Com p any issued t o the un d erwriter of t h e Offer on 4 May 2017 ( Underwriter Shares ), in a c cordance wit h the terms of the Underwriting Ag r eement.

The C o mpany advises that:

1. the Under w riter Shares w ere issued w ithout disclosure to inves t ors under P a rt 6D.2 of th e Corporatio n s Act;

2. as at the d a te of this notice, the Com p any has com p lied with the p rovisions of C hapter 2M of the Corpor a tions Act as t hey apply to t he Company and section 6 74 of the Co r porations Act; and

Issue d Capital

Shares: 288 Mln Options: 4 Mln Last Price: 1.8 cents Market cap: $5.18 Mln

Listing Codes ASX: KOR BERLIN: C6S.BE

1. as at the d a te of this notice there is n o information that is exclud e d information under sectio n 708A(7) and (8) of the A c t that has no t already bee n disclosed to investors ge n erally.

Dated this 4[th] May 2017

By order of the Boa r d Andrej K. Karpinski Execu t ive Chairman

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• END-

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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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

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 deposit at Batch e lor in the Northern Territor y of Australia as well as a g old and silver deposit at Bobrikov o in eastern U kraine. Kora b Group explores for cobalt , gold, lithium, copper, zinc, lead, s ilver, and nic k el at Batchelor project in the Northern T erritory. The Company al s o explores for gold and copper at Ashburton D owns/Mt. El e phant projec t in Western Australia More informatio n about Korab’s projects can be s o urced from K orab’s websi t e at www.ko r ab.com.au. K orab’s share 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 1

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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

are tr a ded on Aust r alian Securities Exchang e (ASX) and on the Berli n Stock Exch a nge (Berliner Börse) through Equiduct electronic trading plat f orm.

Issue d Capital

Shares: 288 Mln Options: 4 Mln Last Price: 1.8 cents Market cap: $5.18 Mln

Listing Codes 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

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