KORAB RESOURCES LIMITED — Director's Dealing 2014

May 15, 2014

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	8 May 2014

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	Direct (a)Indirect (b) and (c)
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	(a) Self(b) Director of, and controlling shareholder inRheingold Investments Corporation P/L(c) Beneficiary of Rubicon Super Fund
Date of change	15 May 2014
No. of securities held prior to change	(a) 10,900,000 shares3,633,334 options(b) 5,500,000 shares15,965,931 options(c) 4,600,000 shares1,026,072 options
Class	1) Ordinary fully paid shares2) 25 cent options expiring 28 August 2014
Number acquired	(a) NIL sharesNIL options(b) NIL sharesNIL options(c) 50,000 sharesNIL options

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number disposed	**(a) **	NIL shares
		NIL options
	**(b) **	NIL shares
		NIL options
	**(c) **	NIL shares
		NIL options
Value/Consideration	$1,241
Note: If consideration is non‐cash, provide details and estimated
valuation
No. of securities held after change	**(a) **	10,900,000 shares
		3,633,334 options
	**(b) **	5,500,000 shares
		15,965,931 options
	**(c) **	4,650,000 shares
		1,026,072 options
Nature of change	On-market trade
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	NOT APPLICABLE
(if issued securities)
Date of change	NOT APPLICABLE
No. and class of securities to which	NOT APPLICABLE
interest related prior to change
Note: Details are only required for a contract in
relation to which the interest has changed
Interest acquired	NOT APPLICABLE
Interest disposed	NOT APPLICABLE
Value/Consideration	NOT APPLICABLE
Note: If consideration is non‐cash, provide details
and an estimated valuation
Interest after change	NOT APPLICABLE

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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.

01/01/2011 Appendix 3Y Page 3