KORAB RESOURCES LIMITED — Capital/Financing Update 2017

Jan 8, 2017

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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 5,365,866 fully paid ordinary shares in the Company issued without a disclosure document to exempt investor under section 708 of the Act, at a price of 1.5 cents per share on or about 3 January 2017 ( Placement ).

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:

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

   • 2.2. section 674 of the Act; and

   • 2.3. there is no information that is “excluded information” within the meaning of section 708A(7) of the Act that has not already been disclosed to investors generally or as required under section 708A(6)(e) of the Act.

Dated this 9 January 2017

Andrej K. Karpinski Executive Chairman Korab Resources Limited