Ann: Successful Completion of Share Placement, page-2

Kibaran Resources Limited (“Kibaran” or “the Company”) (ASX:KNL) is pleased to announce it hasreceived firm commitments from sophisticated, professional and institutional investors to raise $1.1 millionthrough a placement of 11 million fully paid ordinary shares (Shares) at an issue price of 10c per Share (thePlacement).

The Placement was conducted without a prospectus with the Shares being offered and subscribed for byinvestors to whom disclosure is not required. The issue price represents an 8% discount to the volume-weightedaverage price of Kibaran shares calculated over the five trading days on which trades were recorded prior tothis announcement.

The Company confirms that the Placement was strongly supported by Kibaran’s largest shareholders.Placement Shares are expected to be issued on or before 8 March 2019 using the Company’s existing capacityunder ASX Listing Rule 7.1.In recognition of the Company’s retail shareholders, the Company will also be providing eligible shareholderswith the opportunity to participate in a Share Purchase Plan at the same issue price of 10c per Share (SPP).The Company intends to raise up to $1 million under the SPP, which will not be underwritten. Under the SPP,each eligible shareholder will be entitled to apply for up to $15,000 worth of Shares.The SPP will be completed in compliance with ASX exceptions under ASX Listing Rules 7.2 and 10.12 andaccordingly the SPP offer will not require shareholder approval.

The Company confirms that the record date for participation in the SPP is 26 February 2019 (being the businessday prior to the release of this announcement).
Details of the SPP will be announced and dispatched to eligibleshareholders by 8 March 2019. Directors of the Company intend to take up their SPP entitlements.
Proceeds from the Placement and SPP, together with existing cash reserves, will be applied towards theCompany’s key programs. These are:• securing debt finance to enable construction to proceed at the Epanko Graphite Project in Tanzania; and• finalising developments to enable construction of the first battery graphite production facilityin Asia.

Recent news reports indicate Barrick Gold Corporation and the Government of Tanzania have reachedagreement (subject to Acacia shareholder approval) to their long running dispute. This is positive for the mineralsector in Tanzania and positive for project developers such as Kibaran.Following positive discussions with the Bank of Tanzania, Mining Commission and Ministry for Minerals, theCompany is actively pursuing a resolution to the regulatory issues that will enable finalisation of the proposedEpanko debt financing and commencement of construction.

Demand and interest in battery graphite has escalated in recent times, with graphite prices rising materially.Further price increases are expected as ex-China battery graphite demand is forecast to increase five-fold by2020 due to increasing take up of EV’s and the establishment of battery cell manufacturing facilities in Europefor car manufacturers such as Volkswagen, BMW and Mercedes-Benz.