RAREX LIMITED — Capital/Financing Update 2020

Mar 11, 2020

ASX / MEDIA ANNOUNCEMENT

12 March 2020

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KINCORA EXERCISES OPTION ON NSW COPPER GOLD ASSETS

RareX Limited (“ RareX ” or “ the Company ”) is pleased to advise that Kincora Copper Limited (“ Kincora ”) has notified the Company that Kincora has completed its legal and technical due diligence and exercised the option under the terms of the binding Memorandum of Understanding announced to ASX on the 31 January 2020.

The companies are currently finalising a purchase agreement with an initial exploration program expected to be announced in the coming weeks.

This announcement has been authorized for release by the Board of RareX Limited.

For further information, please contact:

Jeremy Robinson Executive Director Ph: +61 8 6143 6720

RareX Limited Suite 23, 513 Hay Street, Subiaco WA 6008 Ph: 08 6143 6720 ACN: 105 578 756