ASX: KOR

Korab Resources Limited

Mining the TerritoryNT RESOURCES WEEK

Andrej K. KarpinskiExecutive Chairman

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Diversified International Minerals Company

Precious metals, agricultural and industrial commodities

Magnesium carbonate development project in the Northern Territory(Winchester)Phosphate rock quarry in the Northern Territory (Geolsec)Polymetallic exploration project in the Northern Territory (Batchelor)Copper and gold exploration project in Western Australia (Mt. Elephant /Ashburton Downs)Gold and silver mine in Ukraine(Bobrikovo)

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Magnesium Carbonate (Winchester)

Large deposit of high grade magnesium carbonate rock

Located 80km south of Darwin

Local infrastructure includes water, power, gas, roads, rail, accommodation

Granted mineral lease

Low environmental footprint and impact

Low CAPEX

High return

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LIMITEDWinchester Economics

CAPEX of ~$4 Mln (including $1 Mln contingency)

EBITDA of $395 Mln

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EBITDA (in AU$ '000) Sensitivity to magnesite selling price at US$0.82 exchange rate

Year/Volume Mag price

YEAR 1 @200KT

YEAR 2 @400KT

YEAR 3 @800KT

YEAR 4 @800KT

YEARS 5-14 @800KT

TOTAL

US$50/T 897 3,508 10,642 10,897 108,582 134,526 US$60/T 2,676 7,067 17,760 18,015 175,847 221,366 US$70/T 4,456 10,626 24,879 25,133 243,113 308,206 US$80/T 6,235 14,185 31,997 32,251 310,378 395,046 US$90/T 8,015 17,744 39,115 39,369 377,644 481,886 US$100/T 9,794 21,303 46,233 46,487 444,909 568,727 US$110/T 11,574 24,862 53,351 53,605 512,175 655,567 US$120/T 13,353 28,421 60,469 60,723 579,440 742,407

This EBITDA was first disclosed in report covering production plan and economics of the project released in 2015. There have been no changes since the release of the original report to the assumptions underpinning the results of this economic assessment.

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LIMITEDWinchester Status

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Granted mining lease

Test mining complemented

Metallurgical, crushing and calcining studies completed

Initial off take for raw magnesium carbonate secured

Conditional funding secured

Commenced work on permitting

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LIMITEDMagnesium carbonate markets

Key established marketsRefractories - steel, cement, glass, energy, chemicalsFlame retardantsBuildings - mag wall, MgO board, mag cement, geopolymersMagnesium alloys – cars, airplanes, tanks, APC-sHydrometallurgy – nickel/cobalt productionWater purification

Key new high-growth marketsMagnesium-ion batteriesMagnesium-diboride superconductorsMRI scanners, high power electric motors for naval propulsion

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LIMITEDLocation of Winchester

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LIMITEDGeolsec phosphate

Located near Batchelor

Potential low cost rock producer

Actively marketing rock to overseas and domestic buyers

Market for rock phosphate in oversupply

Operations of Geolsec currently under review

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LIMITEDSundance gold mine

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LIMITEDSundance mining options

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LIMITEDSundance mining option

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LIMITEDSundance location

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LIMITEDBatchelor polymetallic project

Large 170km2 exploration licence + 50km2 exploration application

Located near Batchelor with good road access

Multiple gold, silver, zinc, lead, copper, nickel and cobalt prospects with 20 km long corridor

Adjoins Winchester magnesium carbonate project and Sundance gold mine

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LIMITEDMt. Elephant/Ashburton project

Large exploration project located in a mostly unexplored part of northern WA south of Paraburdoo

Multiple copper and gold prospects proximal to a crustal scale fault, coincident with high grade copper and gold rock chip and soil samples, EM anomalies and outcropping gossans

Excellent exploration potential

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Bobrikovo gold and silver mine

Historic mining region with very good infrastructure and highly skilled workforce

3.3 million ounces Au JORC resource with significant potential to further build resource inventory

Fresh rock mineralisation open at depth and along strike

BOBRIKOVO

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Appendix 1 Winchester resource

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At 40% MgO Cut-Off MgCO Mass MgO grade ‘000 Tonnes % Indicated Resources 12,200 43.1 Inferred Resources 4,400 43.6 Total 16,600 43.2

There has been no change to the Winchester mineral resource estimate since it was last reported in the Annual Report2015. This information was prepared and first disclosed under the JORC Code 2004 on 17 July 2007. It has not beenupdated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since itwas last reported. The author of this report is not aware of any new information or data that materially affects theinformation included in the report released on 17 July 2007 and, in the case of mineral resources that all the materialassumptions and technical parameters underpinning the estimates in the report released on 17 July 2007 continue toapply and have not materially changed. The form and context in which the findings of the report released on 17 July 2007are presented have not been materially modified.

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Important Information

This presentation has been prepared by Korab Resources Limited (“Korab” or the “Company”). It should not be considered as an offer or invitation to subscribe for orpurchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities nor a securities recommendation. Theinformation in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions, investors shouldrely on their own examination of Korab and consult with their own legal, tax, business and/or financial advisers in connection with any acquisition of securities. Theinformation contained in this presentation has been prepared in good faith, however, no representation or warranty, express or implied, is made as to the accuracy,correctness, completeness or adequacy of any statements, estimates, opinions or other information contained in this presentation. It is believed that the expectationsreflected in these statements and opinions are reasonable but may be affected by a variety of variables and changes in underlying assumptions which could cause actualresults or trends to differ materially, including but not limited to: price fluctuations, actual demand, currency fluctuations, production results, reserve estimates,environmental risks, physical risks, legislative, fiscal regulatory developments, economic and financial market conditions in various countries and regions, political risks,project approvals delays and cost estimates. To the maximum extent permitted by law, Korab, its directors, officers, employees and agents disclaim liability for any lossor damage which may be suffered by any person through the use of, or reliance on, anything contained in or omitted from this presentation. Certain information in thispresentation refers to the intentions of the Company, but these are not intended to be forecasts, forward looking statements, or statements about future matters for thepurposes of the Corporations Act or any other applicable law. The occurrence of events in the future are subject to risks, uncertainties and other factors that may causeactual results, performance, or achievements to differ from those referred to in this presentation. The presentation contains only a synopsis of more detailed informationpublished in relation to the matters described in this document and accordingly no reliance may be placed for any purpose whatsoever on the sufficiency or completenessof such information and to do so could potentially expose you to a significant risk of financial loss or incurring by you of additional liability. Recipients of this presentationshould conduct their own investigation, evaluation and analysis of the information presented in this document. In particular any estimates or projections or opinionscontained herein necessarily involve significant elements of subjective judgment, analysis and assumptions and you should satisfy yourself in relation to such matters.The mining equipment featured in this presentation is not the property of the Company.

The information in this presentation that relates to the exploration results or to the Mineral Resources underpinning the pre-feasibility study referred to in thispresentation is based on information compiled by the Company and reviewed by Malcolm Castle, a competent person who is a Member of the Australasian Institute ofMining and Metallurgy (“AusIMM”). Malcolm Castle is a consultant geologist employed by Agricola Mining Consultants Pty Ltd. Mr Castle has sufficient experience that isrelevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (“JORC Code”). Malcolm Castle consents to theinclusion in this report of the matters based on his information in the form and context in which it appears. This information was prepared and first disclosed under theJORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was lastreported.F

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