ALDORO RESOURCES LIMITED — Capital/Financing Update 2021

Oct 31, 2021

1 November 2021

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AURUM RESOURCES IPO UPDATE

• Aldoro completes gold prospective tenure divestment into Aurum Resources Limited which will be admitted to the Official List of the ASX on Tuesday 2[nd] November.

• Aldoro retains 5 million shares in Aurum representing a 16.6% interest in addition to $200,000.

Aldoro Resources Limited (ASX: ARN ) ( Aldoro or Company ) is pleased to report that the divestment of the Company's Gold prospective tenure to Aurum Resources Limited ( Aurum ) has completed following the satisfaction of conditions precedent including Aurum receiving conditional approval for its shares to be admitted to the Official List of ASX Limited ( ASX ).

It is expected Aurum shares will commence trading on the ASX under the code AUE on Tuesday 2[nd] November 2021. The oversubscribed Aurum initial Public Offer (IPO) raised $5 million at $0.20 per share.

Aldoro has been issued 5,000,000 Aurum shares as consideration for the gold tenure divestment, which represents 16.6% of the total shares on issue at listing.

Aldoro’s chairman Mr. Joshua Letcher made the following comment: “Aldoro welcomes Aurum and its shareholders to the ASX and wishes them every success. The gold portfolio now held by Aurum represents a highly prospective portfolio of tenements in proven gold producing jurisdictions in WA. We will watch the progress undertaken to unlock value at the Ryan’s Find and Penny South gold projects.

The spin-off of Aurum will facilitate the fast-tracking of exploration of Aurum’s portfolio whilst ensuring Aldoro can focus on its core value driver which is unlocking the potential of its Narndee Nickel Project and Wyemandoo Lithium/Rubidium Project.

Aldoro would like to take this opportunity to thank the ASX and its advisors for assisting it with the listing of Aurum Resources Limited”.

This Announcement has been approved for release by the Board of Aldoro Resources Ltd

About Aldoro Resources

Aldoro Resources Ltd is an ASX-listed ( ASX:ARN ) mineral exploration and development company. Aldoro has a collection of gold, nickel and lithium focused advanced exploration projects all located in Western Australia. The Company’s flagship project is the Narndee Igneous Complex, highly prospective for Ni- Cu-PGE mineralisation. Aldoro is also currently exploring the Penny South Gold Project, which is contiguous to Ramelius Resources ( ASX:RMS ) Penny West Project in the Youanmi Gold Mining District, as well as Unaly Hill South (Au) and Kiabye Well (Au). The Company’s other projects include the Cathedrals Belt Nickel Project, with a significant tenement holding surround St George Mining’s ( ASX:SGQ ) Mt Alexander Project, the Leinster Nickel Project (Ni), Windimurra Igneous Complex (Ni-Cu- PGE, Li) and Ryans Find (Au, Ni-Cu-PGE).

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 several 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.