ALDORO RESOURCES LIMITED — Capital/Financing Update 2018

Dec 2, 2018

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ASX ANNOUNCEMENT

3[rd] December 2018

CATHEDRALS BELT INTERPRETATION UNDERWAY AS GROUND EM SURVEY COMMENCES AT LEINSTER PROJECT

• Interpretation of data from high resolution aeromagnetic survey at Aldoro’s Cathedral Belt Project underway to create a robust geological and structural interpretation

• Identification of targets such as prospective ultramafic units will aid initial on ground exploration activities

• Cathedral Belt Project located immediately adjacent to St George Mining’s Mt Alexander Project (ASX.SGQ)

• Exploration success by St George at Mt Alexander continues with further high grade (+5%Ni) nickel-copper intersections

• Ground geophysical surveys commenced at Leinster Nickel Projects, along strike from Talisman Mining’s Sinclair Deposit and BHP’s Leinster Nickel Operations

Aldoro Resources Ltd ( Aldoro or the Company ) is pleased to advise that interpretation of the high resolution aeromagnetic survey over the Cathedral Belt Project has commenced following receipt of the first block of processed data from the survey contractor.

The Cathedral Belt Project comprises 7 tenement applications located 250km northwest of Kalgoorlie (Figure 1), adjacent to nickel sulphide discoveries made by St George Mining Ltd ( St George ) at the Cathedrals, Strickland and Investigators Prospects. St George has released further outstanding results from the Investigators Prospect including assay results of 7.86m at 5.70%Ni, 2.11% Cu & 0.18% Co from 184m and 8.49m at 5.78%Ni, 2.64% Cu & 0.18% Co from 183.9m (refer ASX Announcement ASX.SGQ 30 November 2018).

The Company’s tenements lie to the east, and west, of St George’s tenure (Figure 1) and the Company’s interpretation is that the greenstones hosting the nickel-sulphide mineralisation extend into Aldoro’s tenure. The aeromagnetic data will enable a new geological interpretation to be completed by highly respected independent consultant Dr Brett Davis of Olinda Gold Pty Ltd. Dr Davis is widely regarded in the exploration and mining industry for his application of applied structural geology to numerous commodity types and mineral deposit styles and has extensive experience in the Goldfields region of Western Australia.

Extensions to the prospective ultramafic unit which hosts the nickel-copper mineralisation within St George’s Mt Alexander Project would represent high priority targets for further exploration and the magnetic signature of such units should enable them to be traced with reasonable confidence.

Suite 2, 1 Altona Street, West Perth WA 6005 E: contact@aldororesources.com W: aldororesources.com

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Leinster Project

The Company is also pleased to advise that it has commenced a ground electromagnetic ( EM ) survey at its Leinster Nickel Project. Moving loop EM surveys will be carried out at the Sinclair North, Firefly, Pink Well and Camel Bore Prospects.

The Leinster Nickel Project covers mapped and interpreted ultramafic units located along strike from Talisman Mining’s Sinclair Nickel Project and BHP’s Leinster Nickel Operations, which include the Perseverance, Rockys Reward and Venus Deposits (Figure 2). The current EM survey plans to use modern, high powered EM techniques to detect conductive bodies within these prospective lithologies and define targets for drilling during 2019.

The survey is anticipated to be completed in January 2019 with interpretation and data processing to be carried out in parallel with the survey.

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Figure 1. Aeromagnetic Image showing the Cathedral Belt and Leinster Projects.

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For and on behalf of the board:

Sarah Smith

Company Secretary

Competent Persons Statement

The information in this announcement that relates to Exploration Results and other technical information complies with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) and has been compiled and assessed under the supervision of Mr Bill Oliver, a Director of Aldoro Resources Ltd. Mr Oliver is a Member of the Australasian Institute of Mining and Metallurgy and the Australasian Institute of Geoscientists. He has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. Mr Oliver consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

Disclaimer

Some of the statements appearing in this announcement may be in the nature of forward looking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industries in which Aldoro operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied in any forward looking statement. No forward looking statement is a guarantee or representation as to future performance or any other future matters, which will be influenced by a number of factors and subject to various uncertainties and contingencies, many of which will be outside Aldoro’s control.

Aldoro does not undertake any obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of Aldoro, its Directors, employees, advisors or agents, nor any other person, accepts any liability for any loss arising from the use of the information contained in this announcement. You are cautioned not to place undue reliance on any forward looking statement. The forward looking statements in this announcement reflect views held only as at the date of this announcement.

This announcement is not an offer, invitation or recommendation to subscribe for, or purchase securities by Aldoro. Nor does this announcement constitute investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used for the basis of making an investment decision. Investors should obtain their own advice before making any investment decision.

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