ALDORO RESOURCES LIMITED — Capital/Financing Update 2021

May 13, 2021

ASX and Media Release 14 May 2021

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ALDORO SET TO COMMENCE HIGH IMPACT DRILLING PROGRAM AT THE NARNDEE NIPGE PROJECT

• Diamond drilling contractor secured and expected to be on site in June.

• Aldoro targeting a 5,000 meter program with the ability to increase the program as results are received.

• Drilling to focus on confirmed high confidence anomalies VC1, VC 11 and VC8.

• Initial drilling will also act as dual-purpose inspection holes to gauge their suitability for Aldoro to conduct down-hole transient electro-magnetic (DHTEM) surveys.

• The Company is to investigate the deployment of a gradient array induced polarization (GAIP) survey over the 11 identified FLTEM targets, to further de-risk the identified drilling targets.

Aldoro Resources Limited ( Aldoro , The Company ) ( ASX:ARN ) is pleased to advise its shareholders of its maiden drilling program, due to commence at the Company’s 100% owned Narndee project ( Project ) in June 2021. The Company has identified convincing drill-ready targets following the completion and data interpretation of a Fixed Loop EM ( FLTEM ) survey ( ASX announcement 13 April 2021 ) by Southern Geoscience Consultants. Drilling plans on additional targets will be communicated post completion of Aldoro’s methodical de-risking process as summarised in previous announcements.

Frontline Drilling ( Frontline, Contractors ) have been contracted to complete diamond drill holes over FLTEM target anomalies VC1, VC11 and VC8. The drill holes will also be assessed to determine their viability to conduct DHTEM surveys, which will be used to assess the size and nature of the in-hole bedrock conductors at depth, and which can also identify adjacent, off-hole bedrock conductors. The agreement with Frontline provides Aldoro with the flexibility to increase the drilling program beyond 5,000 meters.

Following consultation with its geological team and advisors, Aldoro is in the process of finalising a gradient array (GAIP) survey. GAIP is an electrical geophysical technique which has the ability to identify disseminated sulphide mineralisation. The Company plans to investigate the use of a GAIP survey over all 11 high-interest anomalies (VC1-VC11) identified from the FLTEM survey ( ASX announcement 12 March 2021 ) to further de-risk the Project and refine target orientation.

About Aldoro Resources

Aldoro Resources Ltd is an ASX-listed ( ASX:ARN ) mineral exploration and development company. Aldoro has a collection 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 highly 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 surround St George Mining’s ( ASX:SGQ ) Mt Alexander Project, the Leinster Nickel Project (Ni) and the Windimurra Igneous Complex (Ni-Cu-PGE, Li). Aldoro’s gold tenements, comprising the Penny South Gold Project, the Unaly Hill South (Au) and Kiabye Well (Au) and Ryan’s Find, are currently under review.

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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 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.

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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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