RAREX LIMITED — Capital/Financing Update 2016

Apr 13, 2016

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ASX / MEDIA ANNOUNCEMENT 14 April 2016

ISSUE OF PLACEMENT SHARES

NOTIFICATION PURSUANT TO PARAGRAPH 708A(5)(e) OF

THE CORPORATIONS ACT 2001 ("Act")

Release Date: Thursday 14 April 2016

On 13 April 2016, Clancy Exploration Limited issued 38,438,159 fully paid ordinary shares in the capital of the Company ("Shares") at an issue price of $0.001 (0.1 cents) per share pursuant to the placement announced on 11 April 2016. This issuance of shares was disclosed in the Appendix 3B lodged on 11 April 2016.

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 14 April 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 14 April 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.

—ENDS—

Please direct enquiries to:

Rowan Caren Company Secretary Phone: +61 2 6361 1285 Email: info@clancyexploration.com Web: www.clancyexploration.com

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 6 wholly owned and managed projects and 1 joint venture project with Alkane Resources Ltd (ASX: ALK). Details of Clancy’s projects can be found at the Company's website: www.clancyexploration.com.

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