KORAB RESOURCES LIMITED — Capital/Financing Update 2017

Feb 27, 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 8 February 2 017

FUNDING U P DATE

K orab Resou r ces Ltd (“ Korab ”, or “ Company ”) ( ASX: KOR ) wishes to report th a t it has received a request f rom Indian O cean Group t o extend the completion o f the placement of shares t o Mr. Wang u ntil 20 Marc h 2 017. This pl a cement is subject to Kora b having suffi c ient placem e nt capacity p u rsuant to Listing Rules 7. 1 a nd/or 7.4 to issue the placement share s to Mr. Wang .

W hilst there have been del a ys with the c ompletion of t he remaining tranche of th i s placement ( $270,770 ha s a lready been completed), K orab is pleas e d to report t h at the documentation for t h e $6 million p roject fundin g f or the Winch e ster magne s ium carbona t e mine near D arwin (with the funds intended to be p r ovided by th e p arties arran g ed by Mr. Wang) is noneth e less being p r ogressed.

C ONTACT:

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 Ukrai n e. The Com p any also ex p lores for gold and copper a t Ashburton D owns in We s tern Australi a a nd for vario u s metals and specialty mi n erals at Batc h elor in the N o rthern Territ o ry. More inf o rmation about K orab’s proje c ts can be sourced from K o rab’s websit e at www.kor a b.com.au. K o rab’s shares are traded o n A ustralian Se c urities Exch a nge (ASX) a n d on the Be r lin Stock Exchange (Berli n er Börse) thr o ugh Equiduct e lectronic tra d ing platform.

Issued C apital

Shares: 226 mln Options: 4 mln Last Price: 2.7 cents ASX: KOR BERLIN: C6S.BE

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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