RAREX LIMITED — Board/Management Information 2017

Jun 14, 2017

ASX / MEDIA ANNOUNCEMENT 15 June 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 -----

NEW CHAIRMAN

Clancy Exploration Limited ( ASX: CLY ) advises that Mr David Lenigas has been appointed to the Clancy board as Non‐ Executive Chairman replacing existing Chairman Mr Evan Cranston who will remain with the Company as a Non‐Executive Director.

David Lenigas, the new Chairman of Clancy Exploration, commented:

“Cobalt is the “must have” metal of the future, and I am pleased to be heading up Clancy with its new push in to this very important and exciting market sector. Cobalt is very important these days and Clancy’s Leogang cobalt assets in Austria, which I visited this week, are completely unexplored using modern techniques. There is a lot of work to be done on this project from here, and its great to be operating in a country like Austria that has a long and established mining culture. Going forward we are well funded to commence the first stages of what will be an intensive exploration program and I look forward to updating our shareholders as we move this project forward.”

Mr Lenigas is an experienced mining engineer with significant natural resources and corporate experience, having served as executive chairman, chairman, and non‐executive director of many public listed companies in London, Canada, Johannesburg, and Australia.

In recent years, Mr Lenigas was the Executive Chairman of London listed lithium investment company Rare Earth Minerals Plc (now called Cadence Minerals Plc), which is the largest shareholder of Bacanora Minerals Limited and European Metals Holdings Limited, and has provided significant funding for the development of the large Sonora Lithium Project in Mexico and the Cinovec Lithium Project in the Czech Republic. He is currently a non‐executive director of Canadian listed Australian company Macarthur Minerals Limited, whose major shareholder is Cadence Minerals Plc.

Mr Lenigas is currently the Executive Chairman of Artemis Resources Limited, Doriemis Plc, and AfriAg plc and a non‐ executive director of Auroch Minerals Limited. Mr Lenigas was also the previous Executive Chairman of London listed UK Oil & Gas Investments Plc, the company that discovered the oil at London’s Gatwick Airport and the Executive Chairman of the Pan‐African conglomerate Lonrho Plc.

Mr Lenigas has a Bachelor of Applied Science (Mining Engineering) (Distinction) from Curtin University’s Kalgoorlie School of Mines and holds a Western Australian First Class Mine Manager's Certificate of Competency.

The Company has agreed as part of his appointment to the Board to issue Mr Lenigas 100,000,000 unquoted options exercisable at $0.004 per option for each share on or before 31 May 2020. An initial director’s interest notice (Appendix 3X) has been lodged separate to this release.

—ENDS—

Please direct enquiries to:

Evan Cranston Non‐executive Director Phone: +61 8 6143 6720 Email: info@clancyexploration.com Web: www.clancyexploration.com

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ASX / Media Announcement

Clancy Exploration Limited (ASX: CLY)

About Clancy Exploration

Clancy Exploration (ASX: CLY) is an Australian‐focused copper, gold and base metals explorer. The Company’s portfolio consists of copper‐gold projects in the Lachlan Fold Belt of NSW where Clancy has 5 wholly owned and managed projects and 1 joint venture project each with Alkane Resources Ltd (ASX: ALK). In addition, Clancy has recently acquired the Leogang Cobalt‐Nickel‐Copper Project located in Austria and is in the process of devising a field based exploration program to be completed.

Details of Clancy’s projects can be found at the Company's website: www.clancyexploration.com.

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