RAREX LIMITED — Board/Management Information 2017

Nov 30, 2017

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----- Start of picture text ----- Clancy Exploration Limited Phone:(08) 6143 6720Suite 23, 513 Hay StreetSubiaco WA 6008 www.clancyexploration.comAustralia info@clancyexploration.com----- End of picture text -----

ASX / MEDIA ANNOUNCEMENT 01 December 2017

BOARD CHANGES

Clancy Exploration Limited (Clancy) advises that Mr Shaun Hardcastle has been appointed to the Clancy board as a Non-Executive Director.

Mr Hardcastle has over 10 years’ experience as a corporate and finance lawyer and extensive experience in corporate governance, risk management and compliance. He has been involved in a broad range of cross-border and domestic transactions including joint ventures, corporate restructuring, project finance, resources and asset/equity sales and acquisitions. Mr Hardcastle has practiced law both in Australia and overseas and is a partner at Bellanhouse Lawyers. Shaun is currently a nonexecutive director of ASX listed companies Hawkstone Mining Limited (ASX: HWK) and Schrole Group Limited (ASX: SCL).

Mr Evan Cranston has retired from the Board of Directors of Clancy due to work related commitments in his role as Executive Chairman of New Century Resources Limited. His resignation was submitted and has been accepted by the Board and is effective from 1 December 2017. The Board would like to thank Evan for his services to Clancy and wish him and his team at New Century Resources every success in the restart and refurbishment of the Century Zinc mine.

The Company has agreed as part of his appointment to the Board to issue Mr Hardcastle 20,000,000 unquoted options exercisable at $0.007 per option for each share on or before 30 November 2020.

Please direct enquiries to:

Scott Patrizi Phone: +61 8 6143 6720 Email: info@clancyexploration.com Web: www.clancyexploration.com

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