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Carnavale successfully completes initial exploration program at Frei Martinho Molybdenum Project in Brazil – drilling to start shortly

November 13, 2007

Non-Renounceable Entitlement Offer of Options

November 12, 2007

08.11.2007 Completion of Escrow Period

November 8, 2007

Supplementary Prospectus

November 8, 2007

Completion of Share Placement

November 7, 2007

Completion of Share Placement (2)

November 7, 2007

Completion of Share Placement (3)

November 7, 2007

Carnavale Arranges Share Placement To Fund Aggressive Exploration Campaign On Brazilian Projects

November 5, 2007

Prospectus

October 29, 2007

Notice of Annual General Meeting, Explanatory Memorandum and Proxy Form

October 29, 2007

Carnavale Resources Research Report

October 24, 2007

Appendix 3B: New issue announcement, application for quotation of additional securities and agreement

October 23, 2007

Non-Renounceable Entitlement Offer Of Option

October 22, 2007

Carnavale acquires two further Iron Ore exploration projects in Brazil

October 7, 2007

Notice of Annual General Meeting

October 5, 2007

Further assays confirm significant high grade Iron enrichment at Parmegiana Project

September 20, 2007

Appointment of Technical Consultant

September 16, 2007

Carnavale acquires new high grade Molybdenum projects in Brazil

September 5, 2007

Assays Confirm Significant High Grade Iron Enrichment At Parmegiana Project

July 20, 2007

Appendix 3B: New issue announcement, application for quotation of additional securities and agreement

July 18, 2007

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