ALDORO RESOURCES LIMITED — Capital/Financing Update 2021

Sep 21, 2021

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ASX and Media Release 22 September 2021

Thicker Magmatic Sulphides Intersected at the VC1 Target

• NDD0008 intersected 2.95m of massive to semi-massive sulphide and 35.95m of disseminated magmatic sulphide

• Assays for NDD0001 and NDD0002 return peak values of 1.05% Ni, 2.00% Cu, and 1.03g/t Pd

• Higher tenor results expected in subsequent holes where pXRF readings were reported

• DHTEM completed on all holes up to NDD0006

• New offhole target vector generated at VC1

• First drillhole NDD0005 testing the VC3 target completed and target confirmed

• Extended aeromagnetic dataset coverage acquired and processed

• VTEM extensions planned

Aldoro Resources Limited ( Aldoro , The Company ) ( ASX: ARN ) is pleased to provide an exploration update for the VC1 and VC3 targets at the Narndee Igneous Complex (NIC, The Project) . NDD0005 at the VC3 target and a further three holes at VC1 have been completed. Assay results have been returned for NDD0001 and NDD0002, confirming the prospectivity of VC1 and the NIC.

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Figure 1 Cumulate textured high MgO ultramafic with disseminated and blebby magmatic sulphides in NDD0008 from approximately 89m downhole.

About VC1 Results and Drill Targeting

NDD0006, NDD0007, and NDD0008 have been completed at VC1 since the previous update. A limited batch of high priority assay results were returned for NDD0001 and NDD0002. Both holes returned significant results for nickel, copper, cobalt, and palladium, which are as follows;

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 2 7229 4628 SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005 http://www.aldororesources.com

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NDD0001

• 1.65m at 0.93% Ni, 0.15% Cu, 0.07% Co, and 0.22ppm Pd from 212.75m Including 0.4m at 1.05% Ni from 214m

NDD0002

• 3.8m at 0.78% Ni, 0.46% Cu, 0.06% Co, and 0.26ppm Pd from 146.4m Including 0.1m at 2.00% Cu and 1.03 g/t Pd from 146.75m

All seven holes drilled at the VC1 target by the Company have returned significant zones of magmatic sulphides. This confirms VC1 as a significant discovery and demonstrates the high prospectivity of the NIC.

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Figure 2. Plan projection showing completed drillhole pierce points of the VC1 target and an evolving interpretation of the magmatic sulphide footprint. DHTEM surveying generated a revised off-hole target shown in red.

The magmatic sulphides at VC1 appear to show significant variation in nickel tenor and metal ratios, which will need to be confirmed by laboratory assays. There also appears to be a lack of identifiable igneous textures in the sulphides, which are often injected into the footwall sequence, and contain thermally eroded footwall xenoliths. This suggests that the mineralisation has undergone significant remobilisation and post-depositional recrystallisation. If preferential remobilisation and metal

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 2 7229 4628 SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005 http://www.aldororesources.com

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segregation has occurred, the potential exists for higher-grade nickel at the VC1 target. The unusually high copper to nickel ratio is further evidence for this phenomenon.

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Figure 3. Semi massive sulphide from approximately 106m downhole in NDD0008, showing the interaction of the sulphides with countryrock xenoliths, and clots of remobilised chalcopyrite.

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 2 7229 4628 SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005 http://www.aldororesources.com

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Figure 4. Cross-section of NDD0003 and NDD0008 at 6804660m north (MGA50). Note the possible identification of a “choke point” or structural trap at NDD0008, where the thicker accumulation of magmatic sulphide is occurring.

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 2 7229 4628 SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005 http://www.aldororesources.com

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Figure 5. Cross-section of NDD0006 at 68049800m North (MGA50)

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 2 7229 4628 SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005 http://www.aldororesources.com

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Figure 6. Cross-section of NDD0007 at 6804780m north (MGA50)

VC3 Visual Results

NDD0005 was drilled to a depth of 654.9m. The hole was extended as it re-entered a high MgO ultramafic package with occasional disseminations of magmatic sulphides after passing through the VC3 target. This confirms the VC3 area to be highly prospective for nickel-copper PGE mineralisation, particularly at depth.

The VC3 target was intersected at approximately 380m downhole. The anomaly appears to be associated with an internal raft of sulphidic metasediment, hosted by high MgO ultramafics and mafics. The rocks immediately below the metasediment contain blebby and disseminated magmatic sulphide, confirmed to be nickel and copper-rich by pXRF.

The Company is now considering deeper penetrating geophysical techniques, such as large loop high power electromagnetics, to assess the potential of the highly prospective target area between VC1 and VC3.

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 2 7229 4628 SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005 http://www.aldororesources.com

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Figure 7. Cross-section of NDD0005 at 6806700m north (MGA50), the first hole into the VC3 target.

The sulphide assemblage in order of abundance intersected by all reported drillholes appears to be pyrrhotite, pentlandite, chalcopyrite, and pyrite. However, petrographic and geochemical analyses are required to confirm the species, geological setting, and relative abundance. Bulk sulphide abundance definitions are as follows (note these are visual estimates);

• Disseminated, blebby, breccia, and or veined sulphide - 1% to 20% sulphide

• Matrix sulphide - 20% to 40% sulphide

• Semi massive sulphide - 40% to 80% sulphide

• Massive sulphide - greater than 80% sulphide

VTEM and Aeromagnetic Dataset Extensions

Given the high success rate of the existing VTEM survey, extensions are proposed to screen the remaining areas of highly prospective stratigraphy and geochemistry results. The proposed extensions are divided into Priority 1 over nickel-copper-PGE magmatic sulphide style targets and Priority 2 over copper-gold VHMS style targets.

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 2 7229 4628 SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005 http://www.aldororesources.com

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Figure 8. Geological map of the NIC, showing the location of all relevant targets and the proposed VTEM extension surveys.

The processed Aeromagnetic datasets only covered the southern tenement area of the NIC. The dataset has now been extended to cover the entire tenement package and extends over a larger area of the NIC. This will provide a solid base layer for regional targeting and interpretation.

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 2 7229 4628 SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005 http://www.aldororesources.com

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Figure 9. Digital elevation image from the new broader aeromagnetic data compilation over the NIC

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 2 7229 4628 SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005 http://www.aldororesources.com

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Forward Plan

The drill rig will complete another hole to the east of NDD0003, where the best sulphide accumulations have been intersected. It will then move to the VC11 target, which shows very similar lithological and geophysical characteristics to the VC1 target.

Table 1. Details of drilling reported in this announcement, including holes completed by Maximus Resources in 2012.

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Table 2. Summary logs of holes reported in this announcement.

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 2 7229 4628 SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005 http://www.aldororesources.com

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From To
Hole ID Primary Lithology Secondary Lithology Comments
m m
NDD0006 0 6 Saprolite undifferentiated Moderately weathered mafic/ultramafic
NDD0006 6 21.2 Mafic, undifferentiated Fine grained, possibly chilled mafic, weakly weathered
NDD0006 21.2 32.7 Mafic, undifferentiated Fine grained, blotchy weathering and patches of tremolite. probably chilled mafic/UM
NDD0006 32.7 42.05 Ultramafic, undifferentiated Chlorite dom rock 1-2% colloform banded chalcedony veins with pyrite and coarse talc
NDD0006 42.05 44.3 Ultramafic, undifferentiated Quartz-calcite veining Colloform-banded chalcedony-pyrite vein longitudinally along core. fracture-associated oxidation
NDD0006 44.3 58.3 Peridotite Chlorite dom rock Highly chloritic, preserved olivine texture in places.Fracture oxidation
NDD0006 58.3 62.35 Olivine Gabbronorite Fine grained rock, moderately poikilitic with relatively small oikocrysts. Fresh rock
NDD0006 62.35 78 Olivine Gabbronorite Coarsening, large oikocrysts
NDD0006 78 80.75 Peridotite Chlorite dom rock
NDD0006 80.75 104.1 Olivine Gabbronorite Variably poikilitic, patchy tremolite alteration
NDD0006 104.1 111.9 Peridotite Chlorite dom rock
NDD0006 80.75 104.1 Olivine Gabbronorite
NDD0006 104.1 111.9 Peridotite
NDD0006 111.9 126.9 Peridotite Olivine Gabbronorite Mingled peridotite and poikilitic olivine gabbronorite. Broad fracture zone
NDD0006 126.9 167.1 Olivine Gabbronorite Strongly chloritised
NDD0006 167.1 183.1 Olivine Gabbronorite Plagioclase groundmass. In places troctilitic rock. Moderately poikilitic
NDD0006 183.1 184.7 Peridotite Strongly chloritized
NDD0006 184.7 203.1 Olivine Gabbronorite Plagioclase bearing groundmass variety, densely poikilitic
NDD0006 203.1 205.3 Pyroxenite Fine-grained pyroxenite, dyke?
NDD0006 205.3 240.2 Olivine Gabbronorite Plagioclase-bearing groundmass, densely poikilitic
NDD0006 240.2 241.2 Pyroxenite dyke
NDD0006 241.2 245.1 Olivine Gabbronorite
NDD0006 245.1 251.3 Peridotite Strongly chloritic, ,ingredients with some poikilitic pyroxene gabbronorite. 1-3% blebby pyrrhotite
NDD0006 251.3 258.1 Peridotite green, strongly altered, tremolitic, fault zone. 3-5% blebby pyrrhotite, 1-3% pyrite infilling fractures with gouge
NDD0006 258.1 258.5 Basalt possibly dyke or raft of basalt, blebby sulphide concentrated along margins
NDD0006 258.5 263.5 Peridotite Serpentinite 1-2% blebby pyrrhotite and 5cm massive sulphide vein @ 262.8-262.85m with pyrrhotite-pyrite-chalcopyrite
NDD0006 263.5 264.7 Fault - fault gouge Pyroxenite mafic dyke , heavily broken up and gouge-filled fault zone
NDD0006 264.7 278.6 Peridotite 1-3% blebby pyrrhotite in talc chlorite altered peridotite
NDD0006 278.6 280.2 Mafic, undifferentiated raft of basement rock, metabasalt or metasediment
NDD0006 280.2 294 Peridotite Chlorite dom rock 2-5% blebby pyrrhotite. increasingly chloritised rock
NDD0006 294 295.7 Chlorite dom rock weakly brecciated, coarse blebby and matrix sulphides, 5-8%
NDD0006 295.7 298.6 Metasediment fine-grained metased, minor pyrrhotite in fractures
NDD0006 298.6 299.2 Metasediment Massive sulphide 30% sulphide as thick ribbons and patches, pyrrhotite with chalcopyrite on margins
NDD0006 299.2 301.2 Basalt metabasalt, patchy pyrrotite disseminations and minor chalcopyrite in fractures
NDD0006 301.2 301.6 Massive sulphide massive pyrrhotite and minor chalcopyrite
NDD0006 301.6 303 Metasediment Disseminated Sulphide sulphide bands 1-3cm, pyrrhotite dominant. Chalcopyrite as matrix in narrow 1-2cm breccia veins
NDD0006 303 318.7 Metasediment Basalt metabasalt/metasediment. Rare patches of disseminated sulphide to 309m
NDD0006 318.7 321 Metasediment Quartz vein zone of strong mesothermal veining
NDD0006 321 336.5 Metasediment
NDD0006 336.5 340.6 Metasediment 30% quartz carbonate veining in metasediment
NDD0006 356 361 Metasediment banded, bedded metasediment
NDD0006 352.7 356 Metasediment Quartz-calcite veining hydrothermal veining and fault zone
NDD0006 362.1 380.5 Metasediment
NDD0006 380.5 399.9 Volcaniclastic
NDD0006 361 362.1 Metasediment Strong sulphide disseminations and quartz carbonate alteration along beds and fractures. 5-10% pyrrhotite
From To
Hole ID Primary Lithology Secondary Lithology Comments
m m
NDD0007 1.4 11.05 Saprock weathered peridotite
NDD0007 11.05 18.7 Saprock altered peridotite and magnesite pseudoveins
NDD0007 18.7 37.2 Saprock variably altered peridotite with magnesite pseudoveins
NDD0007 37.2 50.3 Harzburgite orthopyroxene oikochrysts
NDD0007 0.35 1.4 Peridotite Weathered olivine cumulate
NDD0007 0 0.35 Colluvium
NDD0007 50.3 60.8 Harzburgite orthopyroxene oikocrysts and carbonate veins with occasional chlorite
NDD0007 60.8 67.45 Harzburgite minor veins and occasional disseminated sulphides
NDD0007 67.45 81.75 Harzburgite Peridotite opx oikocrysts and occasional carbonate veining
NDD0007 81.75 101 Olivine Gabbronorite Harzburgite opx oikocrysts and minor carbonate veins
NDD0007 111.1 111.6 Quartz-calcite veining breccia; sulphides; chlorite
NDD0007 111.6 125.6 Harzburgite Peridotite opx oikochrysts; altered peridotite; qtz and cc veining; pug at 125.15
NDD0007 101 111.1 Harzburgite Peridotite opx oikochrysts; veining comes in approx 105m; sulphides 108.8m
NDD0007 125.6 127.3 Mafic, undifferentiated dyke; qtz/cc veining; minor sulphides
NDD0007 127.3 140.2 Harzburgite Peridotite opx oikochrysts
NDD0007 140.2 142.6 Peridotite Disseminated sulphides141.25-.80
NDD0007 142.6 143.5 Mafic, undifferentiated Peridotite breccia/qtz; sulphides in breccia infill
NDD0007 143.5 149.4 Peridotite Harzburgite fewer orthopyroxene oikochrysts; common sulphides
NDD0007 149.4 150.6 Peridotite joint oblique to drill string
NDD0007 150.6 156.3 Peridotite shallow, silica filled, layered joints
NDD0007 156.3 164.1 Olivine Gabbronorite Harzburgite dark coloured oikochrysts; higher felsic content; cross cutting veins
NDD0007 156.3 164.1 Olivine Gabbronorite
NDD0007 164.1 172.2 Olivine Gabbronorite Mafic, undifferentiated common faulting with pug and occasional polished surfaces
NDD0007 172.2 173.1 Basalt country rock; sulphide rich; green hue
NDD0007 173.1 178.3 Basalt minor disseminated sulphides; occasional sulphide veins; cc veining
NDD0007 178.3 180 Mafic, undifferentiated coarser grain; minor disseminated sulphides; cc veins
NDD0007 180 180.5 Massive sulphide inclusions of country rock
NDD0007 180.5 239.3 Metasediment Porphyry minor coarser gained with felsic content; cc veining
NDD0007 246.5 246.7 Quartz-calcite veining dominant calcite
NDD0007 250.6 252.8 Porphyry cc veining
NDD0007 239.3 241.7 Porphyry cc veining
NDD0007 180.5 192.1 Metasediment Porphyry fine grained; weak layered texture; minor disseminated sulphides
NDD0007 192.1 199.3 Porphyry Metasediment common disseminated sulphides in minor metasediment portion
NDD0007 199.3 207.6 Metasediment Porphyry occasional disseminated and vein hosted sulphides
NDD0007 207.6 212.9 Metasediment moderate veining; moderate sulphides disseminated in rock mass and veins;
NDD0007 212.9 235 Metasediment Porphyry occasoccasional porphyry; sulphides disseminated in rock mass and veins; 40cm moderate sulphides from 228.0m
NDD0007 241.7 242 Quartz-calcite veining
NDD0007 242 246.5 Metasediment cc vein and minor cc in rock mass
NDD0007 246.7 250.6 Metasediment Porphyry calcite flooded
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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 2 7229 4628 SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005 http://www.aldororesources.com

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From To
Hole ID Primary Lithology Secondary Lithology Comments
m m
NDD0008 0 0.2 Colluvium
NDD0008 0.2 7.5 Saprolite undifferentiated
NDD0008 7.5 9.7 Peridotite Highly weathered
NDD0008 9.7 30 Lower saprolite Ultramafic, undifferentiated Magnesite pseudo veins
NDD0008 30 40.2 Saprock Ultramafic, undifferentiated Magnesite veining persists
NDD0008 40.2 53.6 Olivine Gabbronorite Olivine Websterite Olivine, plagioclase with opx oikocrysts
NDD0008 53.6 57.4 Olivine Gabbronorite Websterite Moderately weathered
NDD0008 57.4 65.8 Peridotite Olivine cumulate texture, serpentinised
NDD0008 65.8 67.55 Fault - fault gouge
NDD0008 67.55 71.5 Ultramafic, undifferentiated Magmatic Sulphide Mixed tectonic zone with 5% breccia, vein, and disseminated fe ni sulphide
NDD0008 71.5 74.1 Peridotite Magmatic Sulphide Cumulate with heavy disseminated 15% sulphide
NDD0008 74.1 75.7 Peridotite Magmatic Sulphide heavy disseminated and clots of fe ni sulphides. faulted bottom contact.
NDD0008 75.7 85.2 Peridotite Magmatic Sulphide Talc altered cumulate textured ultramafic with 5% disseminated sulphide.
NDD0008 85.2 89.2 Peridotite Magmatic Sulphide Leopard textured black ultramafic with 10% disseminated sulphide
NDD0008 89.2 90.7 Olivine Gabbronorite Magmatic Sulphide breccia and disseminated sulphides
NDD0008 90.7 91 Magmatic Sulphide semi massive breccia sulphide
NDD0008 91 101.3 Basalt Magmatic Sulphide footwall raft with vein and disseminated remobilised segregated sulphide 10%
NDD0008 101.3 104.3 Peridotite talc serpentine altered olivine cumulate
NDD0008 104.3 106.2 Peridotite Magmatic Sulphide heavy disseminated and blebby
NDD0008 106.2 106.6 Massive sulphide Semi massive, brecciated
NDD0008 106.6 107.3 Metasediment Magmatic Sulphide Vein and blebby segregated sulphide
NDD0008 107.3 109.5 Massive sulphide
NDD0008 109.5 156.6 Basalt Metasediment barren sulphides here and there
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ENDS

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).

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

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 2 7229 4628 SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005 http://www.aldororesources.com

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Figure 10. Location of the ARN landholding over the NIC.

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 2 7229 4628 SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005 http://www.aldororesources.com

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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.

Competent Person 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). It has been compiled and assessed under the supervision of Luke Marshall, a geological consultant to Aldoro Resources Ltd. Mr Marshall is a Member of the Australasian Institute of Geoscientists and 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 Marshall consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 2 7229 4628 SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005 http://www.aldororesources.com

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JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary	Commentary
Sampling	• Nature and quality of sampling (eg cut channels, random chips, or	•	Diamond drilling produced half NQ core samples which were
techniques	specific specialised industry standard measurement tools appropriate		submitted to Intertek Genalysis Laboratory Services Perth for
	to the minerals under investigation, such as downhole gamma		geochemical analysis
	sondes, or handheld XRF instruments, etc). These examples should	•	Sample intervals were between 0.2m and 1.2m in length as
	not be taken as limiting the broad meaning of sampling.		determined by geological changes
	• Include reference to measures taken to ensure sample representivity	•	QAQC samples were included at a minimum of 1 in 20 samples,
	and the appropriate calibration of any measurement tools or systems		with extras added around zones of economic interest
	used.	•	Samples were analysed by by methods 4A/MS48R and 4AH/OE
	• Aspects of the determination of mineralisation that are Material to the		(four acid digest with ICP-MS finish)
	Public Report.	•	Au, Pt, Pd were determined by method FA50/MS (fire assay with
	• In cases where ‘industry standard’ work has been done this would be		an ICP-MS finish)
	relatively simple (eg’ reverse circulation drilling was used to obtain 1	•	Sampling techniques are unknown for any reported historical
	m samples from which 3 kg was pulverised to produce a 30 g charge		drilling but assumed to be industry standard at the time of
	for fire assay’). In other cases more explanation may be required,		collection
	such as where there is coarse gold that has inherent sampling
	problems. Unusual commodities or mineralisation types (eg
	submarine nodules) may warrant disclosure of detailed information.
Drilling	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air	•	Aldoro drilling is diamond core drilling
techniques	blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple	•	Holes are drilled by HQ3 to fresh rock, cased off and drilled NQ2
	or standard tube, depth of diamond tails, face-sampling bit or other		to end of the hole
	type, whether core is oriented and if so, by what method, etc).	•	The NQ2 part of the hole is oriented by a Reflex Act-IQ
			orientation tool
		•	Bottom of the hole is marked on the core surface using an
			orientation cradle
		•	Reported historical drilling are reverse circulation drillholes
Drill sample	• Method of recording and assessing core and chip sample recoveries	•Core	recoveries are measured using industry-standard logging
recovery	and results assessed.	techniques
	• Measures taken to maximise sample recovery and ensure	•Core	recoveries average close to 100% in fresh rock, and 90% in
	representative nature of the samples.	weathered material
		• Sample biasisvery unlikely giventhevery good samplerecoveries

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Criteria	JORC Code explanation	Commentary	Commentary
	• Whether a relationship exists between sample recovery and grade	•This	information is not known for reported historical drilling
	and whether sample bias may have occurred due to preferential
	loss/gainof fine/coarse material.
Logging	• Whether core and chip samples have been geologically and	•Aldoro core is logged using industry-standard semi-quantitative
	geotechnically logged to a level of detail to support appropriate	logging templates
	Mineral Resource estimation, mining studies and metallurgical
	studies.
	• Whether logging is qualitative or quantitative in nature. Core (or
	costean, channel, etc) photography.
	• _The total length and percentage of the relevant intersections logged. _
Sub-sampling	• If core, whether cut or sawn and whether quarter, half or all core	•	Selected NQ core samples on half cut core based on geology
techniques and	taken.		and sulphide occurrence were submitted for geochemical
sample	• If non-core, whether riffled, tube sampled, rotary split, etc and		analysis. Lithogeochemical samples were collected the same
preparation	whether sampled wet or dry.		way on 1m samples on 10m spacings over the entire hole length
	• For all sample types, the nature, quality and appropriateness of the	•	The size of the sample from the diamond drilling method is the
	sample preparation technique.		industry standard for the mineralisation style analytical technique
	• Quality control procedures adopted for all sub-sampling stages to	•	Sample preparation includes; drying,crushing, splitting and
	maximise representivity of samples.		pulverising before analysis
	• Measures taken to ensure that the sampling is representative of the in	•	QAQC standard samples of CRM pulps and coarse blank
	situ material collected, including for instance results for field		material were included routinely
	duplicate/second-half sampling.	•	This information is not known for reported historical drilling
	• Whether sample sizes are appropriate to the grain size of the material
	_being sampled. _
Quality of	• The nature, quality and appropriateness of the assaying and	•	Assay and laboratory procedures are industry standard. The
assay data and	laboratory procedures used and whether the technique is considered		technique is considered near total for the elements of interest.
laboratory	partial or total.	•	A Bruker S1 Titan with factory calibration was used for pXRF
tests	• For geophysical tools, spectrometers, handheld XRF instruments, etc,		readings
	the parameters used in determining the analysis including instrument	•	Standard reference materials were analysed routinely by pXRF
	make and model, reading times, calibrations factors applied and their		and found to be reporting withing acceptable limits
	derivation, etc.	•	For reported historical drilling, QAQC procedures, accuracy, and
	• Nature of quality control procedures adopted (eg standards, blanks,		precision have not been established
	duplicates, external laboratory checks) and whether acceptable levels
	of accuracy (ie lack of bias) andprecision have been established.

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Criteria	JORC Code explanation	Commentary	Commentary
Verification of	• The verification of significant intersections by either independent or	•	Aldoro’s visual intersections are logged, interpreted, and
sampling and	alternative company personnel.		reported by the JORC Competent Person
assaying	• The use of twinned holes.	•	QAQC procedures and documentation of primary data is not
	• Documentation of primary data, data entry procedures, data		available for historic drilling
	verification, data storage (physical and electronic) protocols.	•	Twinned holes are not being used or reported
	• Discuss any adjustment to assay data.	•	No adjustments are made to assay data
Location of	• Accuracy and quality of surveys used to locate drill holes (collar and	•	Drillhole collars are measured by handheld GPS and checked
data points	down-hole surveys), trenches, mine workings and other locations		several times before drilling. Coordinates presented are in
	used in Mineral Resource estimation.		GDA94, UTM Zone 50S
	• Specification of the grid system used.	•	Collar survey accuracy of reported historic drilling is unknown
	• Quality and adequacy of topographic control.	•	Aldoro holes are surveyed by a Reflex GYRO SPRINT-IQ
		•	No downhole survey information is available for reported
			historical drilling
Data spacing	• Data spacing for reporting of Exploration Results.	•	Not relevant as only eight holes have been completed at
and	• Whether the data spacing and distribution is sufficient to establish the		irregular spacing
distribution	degree of geological and grade continuity appropriate for the Mineral	•	A Mineral Resource is not being reported
	Resource and Ore Reserve estimation procedure(s) and	•	No sample compositing has been applied, but assay results are
	classifications applied.		reported on a length weighted average
	• _Whether sample compositing has been applied. _
Orientation of	• Whether the orientation of sampling achieves unbiased sampling of	•	The orientation of drilling and sampling is as close to
data in relation	possible structures and the extent to which this is known, considering		perpendicular to the interpreted key mineralised as possible
to geological	the deposit type.	•	The orientation of drilling to key mineralised structures is an
structure	• If the relationship between the drilling orientation and the orientation		evolving interpretation
	of key mineralised structures is considered to have introduced a
	sampling bias, this should be assessed and reported if material.
Sample	• The measures taken to ensure sample security.	•	Individual calico sample bags from the drilling were placed in
security			polyweave bags and hand delivered to the assay laboratory in
			Maddington by company personnel
Audits or	• The results of any audits or reviews of sampling techniques and data.	•No	audits or reviews have been completed given the early stage of
reviews		the	project

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Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral	• Type, reference name/number, location and ownership including	• Tenements E59/2223, E59/2238 and E59/2258
tenement and	agreements or material issues with third parties such as joint	• Held by Gunex Pty Ltd, a 100% owned subsidiary of Altilium
land tenure	ventures, partnerships, overriding royalties, native title interests,	Metals Pty Ltd, which in turn is a 100% owned subsidiary of
status	historical sites, wilderness or national park and environmental	Aldoro Resources Limited
	settings.	• GSR to original tenement holder
	• The security of the tenure held at the time of reporting along with any	• The tenements are in good standing, with no native title interests
	known impediments to obtaining a licence to operate in the area.	and no known historical or environmentally sensitive areas with
		the tenement areas
Exploration	• Acknowledgment and appraisal of exploration by other parties.	• Previous relevant exploration was undertaken by: Westralian
done by other		Nickel-INCO (1960s-70s)
parties		• BHP-Hunter Resources (1985-90)
		• Wedgetail Resources (2001)
		• Apex Minerals-Mark Creasy (2001-06) Falconbridge-Apex-Mark
		Creasy (2002-03)
		• Maximus Resources (2005-14)
Geology	• Deposit type, geological setting and style of mineralisation.	•The Narndee Project is located within the Youanmi Terrane of the
		Yilgarn Craton, close to a major structural boundary between the
		Murchison and Southern Cross Domains. The regional geology is
		dominated by Archaean granite-greenstone terranes (greenstone 2.8-
		3.0 billion years, granites 2.6-2.95 billion years) and the Windimurra
		Group of layered mafic intrusions (2.847 billion +/- 71 million years).
		These bodies represent the largest layered mafic-ultramafic intrusive
		complex in Australia. The Narndee Igneous Complex forms the
		primary component of the Boodanoo Suite and is divided into three
		broad units of stratigraphy: Ultramafic Zone, Lower Zone and Main
		Zone. Historical exploration has generally focused on stratiform PGE-
		reef mineralisation, whereas Aldoro’s focus will be on massive
		magmatic nickel sulphide deposits
Drill hole	• A summary of all information material to the understanding of the	• A listing of the historic Maximus Resources drill hole information
Information	exploration results including a tabulation of the following information	material to the understanding of the historical exploration results,
	for all Material drill holes:	along with other historical drilling, is provided in the body and
	o easting and northing of the drill hole collar	appendices of the ASX announcement on October 29 2020.

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Criteria	JORC Code explanation	Commentary	Commentary
	o elevation or RL (Reduced Level – elevation above sea level in	•	Historical drilling by previous explorers used best practices for
	metres) of the drill hole collar		that time
	o dip and azimuth of the hole	•	The relevant details for Aldoro’s drilling are contained in the body
	o down hole length and interception depth		of this announcement
	o hole length.	•	The use of any data is recommended for indicative purposes
	• If the exclusion of this information is justified on the basis that the		only in terms of potential Ni- Cu-PGE mineralisation and for
	information is not Material and this exclusion does not detract from		developing exploration targets
	the understanding of the report, the Competent Person should clearly
	_explain why this is the case. _
Data	• In reporting Exploration Results, weighting averaging techniques,	•	Aldoro results are presented on a length weighted average
aggregation	maximum and/or minimum grade truncations (eg cutting of high	•	No metal equivalent values have or will ever be quoted by Aldoro
methods	grades) and cut-off grades are usually Material and should be stated.
	• Where aggregate intercepts incorporate short lengths of high grade
	results and longer lengths of low grade results, the procedure used
	for such aggregation should be stated and some typical examples of
	such aggregations should be shown in detail.
	• The assumptions used for any reporting of metal equivalent values
	_should be clearly stated. _
Relationship	• These relationships are particularly important in the reporting of	•All results referenced are based on down-hole lengths and may not
between	Exploration Results.	reflect the true width of mineralisation or thickness of host lithologies,
mineralisation	• If the geometry of the mineralisation with respect to the drill hole	which is unknown
widths and	angle is known, its nature should be reported.
intercept	• If it is not known and only the down hole lengths are reported, there
lengths	should be a clear statement to this effect (eg ‘down hole length, true
	_width not known’). _
Diagrams	• Appropriate maps and sections (with scales) and tabulations of	•Appropriate maps and tabulations are presented in the body of the
	intercepts should be included for any significant discovery being	announcement
	reported These should include, but not be limited to a plan view of
	_drill hole collar locations and appropriate sectional views. _
Balanced	• Where comprehensive reporting of all Exploration Results is not	•Peak values have been reported, but average values have also been
reporting	practicable, representative reporting of both low and high grades	reported
	and/or widths should be practiced to avoid misleading reporting of	•Only selected drill intersections have been mentioned, and due to the
	Exploration Results.	nature ofthe drilling andlackofadequaterecords and survey control,

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Criteria	JORC Code explanation	Commentary	Commentary
		they	are considered indicative only and not material for historical
		drilling
Other	• Other exploration data, if meaningful and material, should be reported	•	Falconbridge completed an airborne magnetic and radiometric
substantive	including (but not limited to): geological observations; geophysical		survey over the NIC using a fixed-wing aircraft and Scintrex
exploration	survey results; geochemical survey results; bulk samples – size and		Cesium Vapour CS-2 Magnetometer and Exploranium GR 820
data	method of treatment; metallurgical test results; bulk density,		Spectrometer. Lines were flown E-W at 100m spacing and 35m
	groundwater, geotechnical and rock characteristics; potential		sensor height. This survey was reprocessed by Southern
	deleterious or contaminating substances.		Geoscience.
		•	Aldoro conducted its own VTEMTM Max airborne survey (refer
			to details in Table 1 ASX Announcement January 20 2021).
		•	Aeromagnetic and gravity datasets, geochemistry datasets
			ground, EM surveys, and DHTEM surveys have been used to
			target drilling
		•	GEM Geophysics completed downhole EM surveying
			Loop Size: 300mx300m, double turn
			Station Spacing: 2-10m intervals
			Sensor: B-field DigiAtlantis
			Base/frequency: 0.125Hz
			Stacking: ~32-64 stacks, 2-3 repeatable readings
Further work	• The nature and scale of planned further work (eg tests for lateral	•	Short term future work plans are detailed in the body of this
	extensions or depth extensions or large-scale step-out drilling).		announcement
	• Diagrams clearly highlighting the areas of possible extensions,	•	Gossan occurrences will be systematically rock chip sampled
	including the main geological interpretations and future drilling areas,		and mapped
	provided this information is not commercially sensitive.	•	Pegmatite occurrences will be systematically rock chip sampled,
			soil sampled and mapped
		•	Exploration is at an early stage, and longer-term future work will
			depend on results

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