KORAB RESOURCES LIMITED — Capital/Financing Update 2021

Oct 28, 2021

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Korab Resources Limited ACN 082 140 252 ( Korab , or the Company )

ASX ANNOUNCEMENT

NOTICE UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT

Korab Resources Limited (ASX: KOR) gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Act ) in relation to the 34,557,019 fully paid ordinary shares in the Company issued without a disclosure document to exempt investors under section 708 of the Act, at a price of 5.5 cents per share on or about 28 October 2021 ( Placement ) pursuant to the announcement released to the market on 28 October 2021.

The Company advises that:

1. the securities offered under the Placement were issued without disclosure to investors under Part 6D.2 of the Act;

2. as at the date of this notice the Company has complied with:

   • 2.1. the provisions of Chapter 2M of the Act as they apply to the Company; and

   • 2.2. section 674 of the Act;

3. as at the date of this notice, there is no information that is “excluded information” within the meaning of section 708A(7) and 708A(8) of the Act that has not already been disclosed to investors generally or as required under section 708A(6)(e) of the Act.

This notice has been authorised by the Board of Directors of the Company

Dated this 29 October 2021

Andrej K. Karpinski Executive Chairman Korab Resources Limited