KORAB RESOURCES LIMITED — Capital/Financing Update 2017

Apr 26, 2017

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KO R AB R ES O URCES LI M ITE D KORA B HOUSE w ww.kora b .com.au

2 7 April 2017 R IGHTS I S SUE OF F ER – APPOINTME N T OF NO M INEE FOR EXCLU D ED S HAREH O LDERS

O n 7 April 2 0 17, Korab R e sources Lim i ted ( ASX: KOR ) ( Korab ) announced a partially underwritten non r enounceable rights issue of 1 share f o r every 6 sh a res held to r aise up to a p proximately $ 0.715 millio n ( before costs and expense s ) ( Offer ).

K orab advise s that, as co n templated in the Offer M e morandum l o dged with A S X on 7 Apr i l 2017, it ha s a ppointed a n ominee, on n ormal comm e rcial terms, a s nominee f o r the sale of the entitlements that thos e s hareholders who were ex c luded from p a rticipating in the Offer ( Excluded Shareholders ) wo u ld have bee n o ffered under the Offer had they been eligible to participate ( Excluded Shareholder Entitlements ).

T he appoint m ent of the n o minee was m ade in accordance with s e ction 615 of the Corporations Act 200 1 ( Cth) ( Corporations Act ), and, as such, shareholder s eligible to p a rticipate in t h e Offer and t h e underwriter ( and any applicable sub-underwriter) of t h e Offer will b e able to rely on the exce pt ion for rights issues in ite m 1 0 of section 6 11 of the Co r porations Ac t . F or further inf o rmation in r e lation to the n ominee appointment, plea s e refer to the Offer Memor a ndum lodge d w ith ASX o n 7 April 2017, a copy of which is available to download f r om the AS X website (at w ww.asx.co m .au). S hareholders with queries c oncerning th e Rights Issu e should cont a ct Andrej Ka r pinski on (08 ) 9474 6166. - E N D- F OR MORE I N FORMATIO N CONTACT:

A ndrej K Kar p inski, Executive Chairman - Australia: (08) 9474 6166, International: +61 8 9474 6166 A BOUT KOR A B RESOUR C ES

Issued C apital

Shares: 226 mln Options: 4 mln Last Price: 2.0 cents ASX: KOR BERLIN: C6S.BE

K orab Resou r ces Ltd is a n internationa l mining and exploration c o mpany with o perations in Australia an d E urope. Korab’s projects i n clude Winc h ester magne s ium carbonate deposit a n d Geolsec p h osphate roc k d eposit at Ba t chelor in the N orthern Territory of Austr a lia as well as a gold and s i lver deposit a t Bobrikovo i n e astern Ukraine. The Co m pany also e x plores for cobalt, gold, copper, nickel, z inc, lead, silver and other m inerals at B a tchelor in th e Northern Te r ritory, and fo r gold and co p per at Mt El e phant in Western Australia. M ore inform a tion about K orab’s proje c ts can be s o urced from Korab’s web s ite at www. k orab.com.au. K orab’s shar e s are traded on Australi a n Securities Exchange (ASX) and on t he Berlin St o ck Exchang e ( Berliner Börse) through E q uiduct electr o nic trading pl a tform.

P r ojects Winchester (NT) Magnesium carbonate (MgCO3) Geolsec (NT) Ph o sphate rock (P2O5)

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

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20 PROWSE S TREET, WEST PERTH, WA, 60 0 5, AUSTRALIA PO BOX 1958 , WEST PERTH, WA, 6872, AUS T RALIA TEL (08) 9474 6166 FAX (08 ) 9322 6333 ACN 082 140 2 52

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