ALDORO RESOURCES LIMITED — Capital/Financing Update 2023

Jun 8, 2023

ASX and Media Release 9 June 2023

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NICKEL-PGE DIAMOND DRILLING PROGRAM COMMENCES

Highlights

• DDH1 diamond rig mobilised to Narndee with a 4-hole, ~2,000-metre drilling program to commence this week.

• 4 diamond holes to focus on new drilling targets following completion of the IP survey.

• Drill holes to target chargeability highs confirmed via the IP Survey.

• Aldoro funded to complete drilling with the flexibility to extend the rig contract subject to results.

Aldoro Resources Ltd (“ Aldoro ”, “ The Company” ) ( ASX: ARN ) is pleased to announce that DDH1 Drilling has mobilised a diamond rig to Aldoro’s Narndee Nickel project and the 4-hole ~2,000-metre program targeting four new I.P. targets will commence this coming week.

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Figure 1: The 4 diamond holes NDD0030-0033 to be drilled in the current program in relation to the holes from the previous Aldoro drilling programmes with mineralised holes labelled .Note the extent of the Eastern anomaly with the four holes that intersected mineralisation.

ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792 SUITE 1, 38 COLIN STREET WEST PERTH, WA 6005 http://www.aldororesources.com

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A summary of the four targets is illustrated in the diagrams below.

Drill Hole NDD0030: Hole targets a large chargeability high with a discrete moderate resistivity signal located on a steep gradient of a magnetic high which may reflect a sulphide rich lithological contact zone.

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Drill Hole NDD0031: Hole targets a discrete moderate chargeability target, a possible ultramafic/mafic contact zone that shallowly dips to the east and appears to coincide with a break in the high resistivity signal which may be fault related.

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792 SUITE 1, 38 COLIN STREET WEST PERTH, WA 6005 http://www.aldororesources.com

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Drill Hole NDD0032: Hole targets is a discrete chargeability anomaly that appears to reside on a contact boundary of gently dipping westerly ultramafic/mafics in a low resistivity zone. It is possibly the same contact zone intersected in the eastern anomaly which can been seen to the right in the 6100 line below.

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Drill Hole NDD0033: Hole targets an IP feature with a similar signature to that found at VC01 (NDD0014, 4.26m of 1.22% Ni, 0.53% Cu and 0.08%Co from 277.14m ref ASX:ARN 8 March 2022). The VC01 chargeability signal appears to be offset to the west due to an east-west fault with sinistral movement. Hole NDD0033 targets the offset chargeability anomaly in a similar setting to the massive sulphides intersected in NDD0014.

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792 SUITE 1, 38 COLIN STREET WEST PERTH, WA 6005 http://www.aldororesources.com

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Result Reporting

The Company will assay the most attractive drill core following completion of the drilling program. Results at the completion of each hole will be communicated to the market.

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

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 Mark Mitchell, technical director for Aldoro Resources Ltd. Mr Mitchell 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 Mitchell consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

About Aldoro Resources

Aldoro Resources Ltd is an ASX-listed ( ASX: ARN ) mineral exploration and development company. Aldoro has a portfolio of critical minerals including rare earth, lithium, rubidium and base metal projects, located in Western Australia and Namibia. The Company’s flagship project the Narndee Igneous Complex, which is prospective for Ni-Cu-PGE mineralisation. The Company’s other projects include. are the Kameelburg REE Project (Namibia), the Wyemandoo lithium-rubidium-tungsten project and the Niobe lithium-rubidium-tantalum Project.

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792 SUITE 1, 38 COLIN 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.

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 8 6559 1792 SUITE 1, 38 COLIN STREET WEST PERTH, WA 6005 http://www.aldororesources.com