KORAB RESOURCES LIMITED — Director's Dealing 2011

Nov 1, 2011

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Perth, 2 November 2011

ASX Ltd Exchange Plaza Perth WA 6000

RE: CHANGE OF DIRECTORS INTEREST NOTICE

Please find attached correct version of the Change of Director’s Interest Notice (Notice).

The version of the Notice uploaded on this morning has incorrect date of the change. The correct date that the change of interest occurred is 1 November 2011 (not 1 October 2011).

Sincerely yours

Andrej K Karpinski, FAICD, FFin KORAB RESOURCES LIMITED EXECUTIVE CHAIRMAN

KORAB RESOURCES LIMITED

KORAB HOUSE

LEVEL 1, SUITE 6, 100 MILL POINT ROAD, SOUTH PERTH, 6151, WESTERN AUSTRALIA PO BOX 195 SOUTH PERTH WA 6951 AUSTRALIA, Tel (08) 9474 6166 Fax (08) 9474 6266 www.korabresources.com.au ACN 082 140 252

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity: KORAB RESOURCES LIMITED ABN: 17 082 140 252

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

We (the entity) give ASX the followingthe director for the purposes of section	information under listing rule 3.19A.2 and as agent for205G of the Corporations Act.
Name of Director	ANDREJ K KARPINSKI
Date of last notice	30 June 2011

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect (a) and (b)Direct (c)
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	(a) Director of, and controlling shareholder inRheingold Investments Corporation P/L(b) Beneficiary of Rubicon Super Fund(c) Self
Date of change	1 November 2011
No. of securities held prior to change	(a) 6,667,718(b) 2,983,915(c) 10,834,729
Class	Ordinary fully paid
Number acquired	(a) 32,282(b) 16,085(c) 65,271
Number disposed	NIL
Value/ConsiderationNote: If consideration is non‐cash, provide details and estimatedvaluation	$22,728
No. of securities held after change	(a) 6,700,000(b) 3,000,000(c) 10,900,000

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change Off-market purchase Example: on‐market trade, off‐market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy‐back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	NOT APPLICABLE
Nature of interest	NOT APPLICABLE
Name of registered holder(if issued securities)	NOT APPLICABLE
Date of change	NOT APPLICABLE
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed	NOT APPLICABLE
Interest acquired	NOT APPLICABLE
Interest disposed	NOT APPLICABLE
Value/ConsiderationNote: If consideration is non‐cash, provide detailsand an estimated valuation	NOT APPLICABLE
Interest after change	NOT APPLICABLE

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed abovetraded during a +closed period where prior written clearance wasrequired?	NO
If so, was prior written clearance provided to allow the trade toproceed during this period?	NOT APPLICABLE
If prior written clearance was provided, on what date was thisprovided?	NOT APPLICABLE

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011