KORAB RESOURCES LIMITED — Director's Dealing 2016

Dec 1, 2016

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KORAB RESOURCES LIMITED KORAB HOUSE

www.korab.com.au

2 December 2016

APPENDIX 3Y

Please find attached Appendix 3Y (Change of Director's Interest Notice) for Andrej K. Karpinski. The notice refers to the shares held by the Rubicon Super Fund of which Mr Karpinski is one of the beneficiaries. Rubicon sold a small fraction of its holdings in Korab Resources Ltd as a one-off occurrence due to the tax related reasons.

CONTACT:

Andrej K Karpinski, Executive Chairman - Australia: (08) 9474 6166, International: +61 8 9474 6166

ABOUT KORAB RESOURCES

Korab Resources Ltd is an international mining and exploration company with operations in Australia and Europe. Korab’s projects include Winchester magnesium carbonate deposit and Geolsec phosphate rock deposit at Batchelor in the Northern Territory of Australia as well as a gold and silver deposit at Bobrikovo in eastern Ukraine. The Company also explores for gold and copper at Ashburton Downs in Western Australia and for various metals and specialty minerals at Batchelor in the Northern Territory. More information about Korab’s projects can be sourced from Korab’s website at www.korab.com.au. Korab’s shares are traded on Australian Securities Exchange (ASX) and on the Berlin Stock Exchange (Berliner Börse) through Equiduct electronic trading platform.

Issued Capital

Shares: 213 mln Options: 4 mln Last Price: 2.1 cents

ASX: KOR BERLIN: C6S.BE

Projects

Winchester (NT) Magnesium carbonate (MgCO3)

Geolsec (NT) Phosphate rock (P2O5) Batchelor (NT) Au, Ag, Zn, Pb, Ni, Cu, Co

Mt. Elephant (WA) Au, Cu Bobrikovo (UKR) Au, Ag, Pb

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20 PROWSE STREET, WEST PERTH, WA, 6005, AUSTRALIA PO BOX 1958, WEST PERTH, WA, 6872, AUSTRALIA TEL (08) 9474 6166 FAX (08) 9322 6333 ACN 082 140 252

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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.

Name of Director	ANDREJ K KARPINSKI
Date of last notice	29 June 2015

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
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Beneficiary of Rubicon Super Fund
Date of change	25-29 November 2016
No. of securities held prior to change	41,079,693 shares
Class	Ordinary fully paid shares
Number acquired	NIL shares
Number disposed	2,079,693 shares
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	2.2 cents each

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	39,000,000 shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On-market sale

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 which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	NOT APPLICABLE
Interest acquired	NOT APPLICABLE
Interest disposed	NOT APPLICABLE
Value/Consideration Note: If consideration is non-cash, provide details and 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 above traded during a +closed period where prior written clearance was required?	NO
If so, was prior written clearance provided to allow the trade to proceed during this period?	NOT APPLICABLE
If prior written clearance was provided, on what date was this provided?	NOT APPLICABLE

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011