Ann: Grant of Exploration License EL34148, page-3

30 July 2025GRANT OF EXPLORATION LICENCE EL34148Korab Resources Ltd (“Korab”, or “Company”) (ASX: KOR) and its subsidiaries (“Korab Group”) arepleased to advise that Exploration Licence EL34148 (the Tenement) has been granted as areplacement title for tenements EL29550 and EL31341.

The new tenement expires on 23 July 2027and is eligible for renewals.EL34148 covers over 237 square kilometres and forms part of the Rum Jungle Project located some70km south of Darwin (NT), near the regional town of Batchelor.

Rum Jungle Project now comprises exploration licence EL34148 held by Korab, seven mineral leasesheld by Korab Group (ML30587, MLN512, MLN513, MLN514, MLN515, MLN542 and MLN543), andone mineral lease which is subject of the sale agreement with unrelated party Leka II Shipping Limited(ML27362) and which is held by Geolsec phosphate Operations Pty Ltd (a wholly owned subsidiary ofKorab).

Rum Jungle Project covers an area of approximately 240 square kilometres of the highly prospectivePine Creek Orogen (PCO).Please refer to Figure 1 on page 3 for the geology of the Rum Jungle Project. Please refer to Figure2 on page 4 for the location of the Rum Jungle Project relative to cities, towns, ports and majorhighways. Please refer to Figure 3 on page 5 for the location of the Rum Jungle Project relative toDarwin.END OF REPORT