ALDORO RESOURCES LIMITED — Capital/Financing Update 2021

Dec 6, 2021

==> picture [104 x 61] intentionally omitted <==

ASX and Media Release 07 December 2021

Niobe Drilling to Commence

• A Heritage Site Avoidance Survey was completed with the Wajarri Traditional Owners

• An RC drill rig is scheduled to arrive on-site within a week

• Sixty-six drill holes are planned over Niobe East, Breakaway, and Niobe Southeast

Aldoro Resources Limited (ASX: ARN) ( Aldoro or Company ) is pleased to announce that a Heritage Site Avoidance Survey with the Traditional Wajarri Owners has cleared the planned drilled sites, making way for drilling to commence on the 10[th] of December. The program will start on the Niobe East pegmatite system, aiming to increase the exploration target based on the limited historical drilling and recent rock chips sampling results (ASX ARN release 24/11/21). Rock chip sampling indicated that Niobe East anomalous Rb and Li values extend over 400m in strike length, which justifies the proposed drilling program into this multilayered pegmatite section.

Drilling will also be conducted at the Breakaway and Niobe Southeast pegmatites, where historical drilling has not tested for the presence of Rb and Li. Rock chip sampling at the Breakaway pegmatites, to the west, found anomalous Rb and Li extends over a strike length of 100m, while at Niobe Southeast, the few samples collected have anomalous Rb values.

==> picture [458 x 326] intentionally omitted <==

Figure 1. Map displaying the locations of the drill sites in relation to the mapped pegmatites and the POW areas which were cleared of sites.

ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792

SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005

==> picture [104 x 61] intentionally omitted <==

==> picture [467 x 304] intentionally omitted <==

----- Start of picture text -----

Breakaway Pegmatites
Niobe Pit Pegmatite (P1)
Pegmatite East (P2)
----- End of picture text -----

Figure 2. Photo looking across Niobe east to Niobe Main Pit flanked by mineralised pegmatite excavations. Large clusters of botryoidal Zinnwaldite is visible in the large block excavated from the main pit.

Aldoro had previously identified an exploration target of approximately 33,000 -150,000 tones at the Main Pegmatite(P1) with grades ranging from 696-1457ppm Rubidium Oxide (Rb2O), see ASX ARN 27/8/2021 release.

Ends

This announcement was approved for release to ASX by the Board of Aldoro Resources Limited

ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792

SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005

==> picture [104 x 61] intentionally omitted <==

About Aldoro Resources

Aldoro Resources Ltd is an ASX-listed (ASX: ARN) mineral exploration and development company. Aldoro has a portfolio of gold and nickel focused advanced exploration projects, all located in Western Australia. The Company's flagship project is the Narndee Igneous Complex, which is prospective for Ni-Cu-PGE mineralisation. The Company's other Ni-Cu-PGE projects include the Cathedrals Belt Nickel Project, with a significant tenement holding surrounding St George Mining's (ASX: SGQ) Mt Alexander Project, the Leinster Nickel Project (Ni), and the Windimurra Igneous Complex (Ni-Cu-PGE, Li).

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 forwardlooking 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 of 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.

ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792

SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005