RAREX LIMITED — Capital/Financing Update 2016

Apr 11, 2016

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ASX / MEDIA ANNOUNCEMENT 12 April 2016

AMENDED RIGHTS ISSUE TIMETABLE*

Clancy Exploration Limited (ACN 105 578 756) (ASX: CLY) (Company) refers to its ASX announcement on 11 April 2016 which included the timetable for the forthcoming Entitlement Offer. The timetable has been amended to accommodate for ASX’s new “t+2” timetable as follows.

Item	Date
Lodgement of Appendix 3B and Prospectus with ASX	11 April 2016
Notice of Entitlement Offer sent to Shareholders	12 April 2016
Rights start trading on a deferred settlement basis	13 April 2016
Shares quoted on an “EX” basis	14 April 2016
Record Date for determining Entitlements and Quoted Options	15 April 2016
Prospectus and Entitlement and Acceptance Form despatched to EligibleShareholders	20 April 2016
Right trading ends	22 April 2016
Securities quoted on a deferred settlement basis	26 April 2016
Last day to extend the offer closing date	27 April 2016
Closing Date of Entitlement Offer (5pm WST)*	2 May 2016
Notification of Shortfall	5 May 2016
Anticipated date for issue of the Securities.Deferred settlement trading ends	9 May 2016
Anticipated date for commencement of Shares and Quoted Options trading on anormal settlement basis	10 May 2016

—ENDS—

• The Directors may extend the Entitlement Offer Closing Date by giving at least three (3) Business Days' notice to ASX prior to the Entitlement Offer Closing Date. As such the date the Shares issued under the Entitlement Offer are expected to commence trading on ASX may vary.

Please direct enquiries to:

Rowan Caren Company Secretary Phone: +61 2 6361 1285 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 6 wholly owned and managed projects and 1 joint venture project each with Alkane Resources Ltd (ASX: ALK). This mix of Clancy and joint venture project funding allows a high level of exploration activity to be maintained, whilst prudently managing Clancy’s financial resources. Details of Clancy’s projects can be found at the Company's website: www.clancyexploration.com.

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