KORAB RESOURCES LIMITED — Capital/Financing Update 2017

Mar 15, 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

1 6 March 2017 C ONV E RTIB L E LO A N AN D DRI L LING UPDA T E

• All funds re c eived

• • Dri l ling to c o mmenc e shortly

K orab Resources Ltd (“ Korab ”, or “ Company ”) ( ASX: KOR ) wishes to rep o rt that it ha s received all $ 471,000 of t he funds ref e rred to in th e ASX anno u ncement title d “FUNDING SECURED F OR COBAL T A ND ZINC D R ILLING “ whi c h was relea s ed to the ma r ket on 8 Mar c h 2017.

F urthermore, Korab is very pleased to a d vise that the drilling progr a m to explore t he recently r e ported cobalt a nd zinc disc o veries[1] will c o mmence sh o rtly at the Batchelor project. T he Batchelo r project is located in the N o rthern Territ o ry, 70km sou t h of Darwin, a long Stuart H ighway. P lease follow the links belo w for the rele v ant ASX rep o rts:

Issued C apital

Shares: 226 mln Options: 4 mln Last Price: 2.1 cents ASX: KOR BERLIN: C6S.BE

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

Funding Secured for Cobalt and Zinc Drilling h ttp://www.as x .com.au/asx / statistics/dis p layAnnouncement.do?display=pdf&idsI d =01837016 Cobalt at Korab’s Batchelor Project h ttp://www.as x .com.au/asx / statistics/dis p layAnnouncement.do?display=pdf&idsI d =01827144 High Grade Zinc, Lead and Silver Results h ttp://www.as x .com.au/asx / statistics/dis p layAnnouncement.do?display=pdf&idsI d =01822066 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

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.

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

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1 Based on historical and recent drilling and s urface geochemical sampling as previously r eported. 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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