RAREX LIMITED — Capital/Financing Update 2016

Oct 11, 2016

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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 12 October 2016

SECONDARY TRADING NOTICE

NOTIFICATION PURSUANT TO PARAGRAPH 708A(5)(e) OF THE CORPORATIONS ACT 2001 ("Act")

On 12 October 2016, Clancy Exploration Limited (ASX: CLY) (the “Company”) issued 250,000,000 fully paid ordinary shares in the capital of the Company (“Shares”) at an issue price of 0.1 cents per share to international and domestic sophisticated investors, pursuant to a placement.

Secondary Trading Exemption

The Act restricts the on‐sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A. By the Company giving this notice, sale of the Shares noted above will fall within the exemption in section 708A(5) of the Act.

The Company hereby notifies ASX under paragraph 708A(5)(e) of the Act that:

• (a) the Company issued the Shares without disclosure to investors under Part 6D.2 of the Act;

• (b) as at 12 October 2016 the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, and section 674 of the Act; and

• (c) as at 12 October 2016 there is no information:

  • (i) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

  • (ii) that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

    • A. the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

    • B. the rights and liabilities attaching to the Securities.

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