KORAB RESOURCES LIMITED — Director's Dealing 2017

May 10, 2017

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	2 December 2016

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 or indirect interest	Direct or indirect interest	Direct or indirect interest	Indirect	Indirect	Indirect	Indirect
	Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.				a) Beneficiary of Rubicon Super Fundb) Shareholder in Rheingold InvestmentsCorporation Pty Ltd
	Date of change				4 May 2017
	No. of securities held prior to change				a) 39,000,000 sharesb) NIL
	Class				Ordinary fully paid shares
	Number ac	quired			a) 6,500,000 sh	ares
					b) 14,234,739 s	hares
	Number di	sposed			a) NIL sharesbNIL h
					) sares
	Value/Con	ideration			a)$123500
	Note: If consvaluation	ideration is non-cash, prov	ide details and estimate	d	,b) $270,460

• 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	a) 45,500,000 shares
	b) 14,234,739 shares
Nature of change	a) Pro-rata rights issue offer – take-up of
Example: on-market trade, off-market trade, exercise of options,	entitlement
issue of securities under dividend reinvestment plan, participation inbuy-back	b) Pro-rata rights issue offer – underwriting of theoffer

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

Part 3 –[+] Closed period

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

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011