ALDORO RESOURCES LIMITED — Capital/Financing Update 2023

Jan 16, 2023

ASX and Media Release 17 January 2023

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DRILLING & IP EXPLORATION PROGRESSING WELL AT NARNDEE

Highlights

• All four diamond holes drilled within IP anomalies have successfully intersected disseminated sulphides at depth, providing valuable information to the IP modelling

• Initial assay results are encouraging, with IP downhole sounding bolstering confidence and refining target areas for further drilling.

• Surface high powered IP sounding has been conducted over a broad area encompassing Targets 1 and 2 with down hole sounding providing depth control resolution and interpretation of a number of anomalous structures.

Aldoro Resources Ltd (“ Aldoro ”, “ The Company” ) ( ASX: ARN ) is pleased to announce that four diamond holes (NDD0023-0026) have been completed for a total of 1,851 meters into Target area 2 intersecting variable quantities disseminated sulphides in all holes. A total of 61m of drill core bearing disseminated sulphides from NDD0025 has been cut with 1m half cores dispatched to Intertek, for analytical assaying. The core from a disseminated sulphide zone 228 to 289m depth (inclined at -75[o] ) produced two anomalous zones of PGE, Au and Ni. Completed activities so far are shown on Figure 1.

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Figure 1 : Drill locations and IP stations surveyed at Narndee

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792 SUITE 11, 23 Railway RD SUBIACO, WA 6008 http://www.aldororesources.com

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Two holes were drilled into Target 2 along line 5400 identified from Induced Polarisation (IP) surveying where first hole (NDD0023) drilled into a faulted contact dominated by magnetite with disseminated pyrrhotite and chalcopyrite form 480 to 543m. The second hole (NDD0024) intersected a pervasively altered ultramafic with minor blebs of pyrite and chalcopyrite to 546m depth.

The IP sounding produced a north-south chargeability anomaly along a faulted margin in the east of Target 2 which was tested with a third hole (NDD0025) that intersected disseminated sulphides, from 218 to 287m in a pervasively altered ultramafic, see Figures 2 & 3.

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a b c
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Figure 2 : Disseminated chalcopyrite and pyrite in cut core from hole NDD0025 a) 249-249.3m sulphides including chalcopyrite, b) violarite and chalcopyrite 249m and c) violarite and chalcopyrite at 246m into Target 2 east (Pd-Ni-Cu Target).

IP sounding was conducted over Target Areas 1 and 2 at 100m spacing and covered the VC1 area which has previously reported disseminated to massive sulphides * . After NDD0024 was drilled, the hole was accessed to test upward chargeability and resistivity over the surrounding area to provide depth control in the IP signal. The chargeability at 300m depth is shown in Figure 3 with the four drill holes completed to date. Interpretation reveals two east-west faults with displacement to the west. 2021 drilling across the boundary at VC1 assumes that the target area is down faulted with possible continuation and displacement of massive sulphides to the west at deeper intervals as shown by the high chargeability anomaly in Figure 3.

At hole NDD0023 magnetite was intersected which may be associated with oxidation on the northern continuation of the high chargeability anomaly.

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*Refer to ASX:ARN announcements 5/8/2021, 9/8/2022, 18/8/2021 & 22/9/2021

ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792 SUITE 11, 23 Railway RD SUBIACO, WA 6008 http://www.aldororesources.com

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Figure 3 : Location of the current drill holes (NDD0023-26) on up hole IP sounding sliced at 300m depth showing Target 2 East anomaly, a North south structure which is some 800-900m in strike extent. The VC1 mineralisation is shown in the southwest corner of the survey .

The eastern anomaly line was drilled at 5800mN via hole NDD0025 and the cross section along this line shows the chargeability profile with the disseminated sulphides coinciding with the chargeability feature with depth extent and appears adjacent to a steeply dipping fault controlled lithological contact (Figure 4).

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792 SUITE 11, 23 Railway RD SUBIACO, WA 6008 http://www.aldororesources.com

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Figure 4 : Cross section through the 5800mN East-West line showing the drill trace through chargeability feature and the stark vertical contrast.

Hole 4 (NDD0026) lies 100m to the north of NDD0025 and tested part of the northern strike extent of the feature, which was considered to have shallower sulphides. This North-South feature appears to continue northward and is visible in the recently completed IP Gradient Array data as shown in Figure 5.

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Figure 5 Gradient Array Chargeability data showing the extension of the Eastern Anomaly which has a strike extent of up to 900m and the Central Target area (Target 3) with an intense chargeability signature. Current hole is into the Central Anomaly NDD0027 with planned holes labelled as “P”.

Hole 5 (NDD0027) lies on the 6700mN line (Figure 5) and targets the north-south elongate chargeability target with a coincident resistivity low. The hole is currently at approximately 80m depth in a fractured altered anorthosite.

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792 SUITE 11, 23 Railway RD SUBIACO, WA 6008 http://www.aldororesources.com

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The Narndee exploration programme resumed on the first week of January 2023 and planning includes the following:

• further drilling along the Eastern Target anomaly

• testing the Target 3 Central Target

• drilling the possible displaced extension of VC1 on line 5100 and drilling

• Further IP sounding to be conducted over the central and eastern targets to refine the placement of drill collars.

Table 1: Diamond Drill Collars

Hole_ID	**Easting **	**Northing **	**Elevation **	**Dip **	**Azm **	**EOH(m) **	IP Line	Comment
NDD0023	610100	6805400	460	-70	270	571.2	5400
NDD0024	609650	6805400	460	-70	270	546.9	5400
NDD0025	610940	6805800	465	-75	90	379.0	5800	Results 228-289m
NDD0026	610940	6805900	465	-70	90	354.1	5900
NDD0027	610421	6806700		-70	90		6700	Current hole
						1,851.2

Datum GDA94 zone 50

Core from hole NDD0025 from 228-289m was halved and analysed at 1m intervals at Intertek Genalysis (Perth) for multielement analysis and the results and shown in Table 2.

Highlights are:

• 4m@ 0.57g/t Pd, 0.09g/t Pt and 0.04g/t Au ( 0.69g/t 3E ) and 0.54% Ni, 0.15%Cu from 247m

• 1m@ 0.92g/t Pd, 0.16g/t Pt and 0.06g/t Au ( 1.15g/t 3E ) and 0.26% Ni from 269m

( 3E = Pd+Pt+Au in g/t)

Results for the 61m interval analysed are given in Table 2

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792 SUITE 11, 23 Railway RD SUBIACO, WA 6008 http://www.aldororesources.com

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NDD0025	Depth(m)	Depth(m)	Pd	Pt	Au	Pd+Pt+Au	Ni	Cu	Co
Sample	From	To	g/t	g/t	g/t	g/t	%	%	%
ND02111	228	229	0.01	0.01	0.00	0.02	0.22	0.00	0.01
ND02112	229	230	0.01	0.00	<LOD	0.01	0.19	0.00	0.01
ND02113	230	231	0.01	0.00	0.00	0.01	0.23	0.00	0.01
ND02114	231	232	0.01	0.00	<LOD	0.01	0.24	0.00	0.01
ND02115	232	233	0.01	0.00	0.00	0.01	0.23	0.00	0.01
ND02116	233	234	0.01	0.00	0.00	0.01	0.23	0.00	0.01
ND02117	234	235	0.01	0.00	0.00	0.01	0.24	0.00	0.01
ND02118	235	236	0.01	0.00	0.00	0.01	0.23	0.00	0.01
ND02119	236	237	0.01	0.00	0.00	0.02	0.23	0.01	0.01
ND02120	237	238	0.02	0.00	0.00	0.02	0.24	0.00	0.01
ND02121	238	239	0.01	0.00	0.00	0.02	0.24	0.01	0.01
ND02122	239	240	0.01	0.01	0.00	0.02	0.23	0.01	0.01
ND02123	240	241	0.04	0.01	0.01	0.06	0.22	0.02	0.01
ND02124	241	242	0.06	0.02	0.01	0.09	0.25	0.02	0.01
ND02125	242	243	0.09	0.02	0.01	0.11	0.30	0.02	0.02
ND02127	243	244	0.02	0.01	0.00	0.04	0.24	0.00	0.01
ND02128	244	245	0.00	0.00	0.00	0.01	0.23	0.00	0.01
ND02129	245	246	0.01	0.00	0.00	0.01	0.19	0.01	0.01
ND02130	246	247	0.22	0.04	0.03	0.30	0.27	0.06	0.02
ND02131	247	248	0.54	0.10	0.04	0.67	0.39	0.10	0.02
ND02132	248	249	0.80	0.12	0.04	0.96	0.49	0.17	0.02
ND02133	249	250	0.04	0.01	0.01	0.06	0.66	0.20	0.02
ND02134	250	251	0.90	0.12	0.07	1.09	0.62	0.14	0.02
ND02135	251	252	0.18	0.03	0.02	0.23	0.31	0.05	0.02
ND02136	252	253	0.04	0.01	0.01	0.06	0.25	0.01	0.01
ND02137	253	254	0.07	0.01	0.01	0.09	0.27	0.01	0.01
ND02138	254	255	0.10	0.02	0.01	0.12	0.24	0.02	0.02
ND02139	255	256	0.09	0.02	0.01	0.12	0.27	0.04	0.02
ND02140	256	257	0.04	0.01	0.01	0.06	0.24	0.02	0.02
ND02141	257	258	0.03	0.01	0.00	0.05	0.24	0.02	0.01
ND02143	258	259	0.03	0.01	0.00	0.05	0.25	0.02	0.02
ND02144	259	260	0.07	0.01	0.01	0.09	0.26	0.02	0.02
ND02145	260	261	0.04	0.01	0.01	0.06	0.24	0.02	0.02
ND02146	261	262	0.11	0.03	0.01	0.15	0.32	0.04	0.02
ND02147	262	263	0.07	0.02	0.01	0.10	0.29	0.02	0.02
ND02148	263	264	0.03	0.01	0.00	0.04	0.24	0.02	0.01
ND02149	264	265	0.03	0.01	0.01	0.05	0.24	0.01	0.01
ND02150	265	266	0.07	0.02	0.01	0.09	0.28	0.02	0.02
ND02151	266	267	0.03	0.01	0.00	0.05	0.26	0.01	0.01
ND02152	267	268	0.04	0.01	0.00	0.06	0.27	0.01	0.02
ND02153	268	269	0.03	0.01	0.00	0.04	0.24	0.01	0.02
ND02154	269	270	0.92	0.16	0.06	1.15	0.26	0.01	0.01
ND02155	270	271	0.06	0.02	0.01	0.08	0.30	0.01	0.02
ND02156	271	272	0.02	0.01	0.00	0.03	0.24	0.01	0.01
ND02157	272	273	0.02	0.01	0.00	0.02	0.24	0.01	0.01
ND02159	273	274	0.03	0.01	0.00	0.04	0.23	0.01	0.01
ND02160	274	275	0.04	0.01	0.01	0.06	0.24	0.03	0.02
ND02161	275	276	0.13	0.03	0.02	0.17	0.33	0.06	0.02
ND02162	276	277	0.08	0.02	0.01	0.12	0.31	0.03	0.02
ND02163	277	278	0.07	0.02	0.01	0.09	0.29	0.02	0.01
ND02164	278	279	0.04	0.01	0.00	0.05	0.28	0.01	0.01
ND02165	279	280	0.03	0.01	0.01	0.05	0.26	0.01	0.01
ND02166	280	281	0.03	0.01	0.00	0.04	0.26	0.01	0.01
ND02167	281	282	0.02	0.01	0.00	0.03	0.24	0.01	0.01
ND02168	282	283	0.01	0.00	0.00	0.02	0.28	0.01	0.02
ND02169	283	284	0.01	0.00	0.00	0.02	0.25	0.01	0.01
ND02170	284	285	0.04	0.01	0.01	0.05	0.28	0.02	0.02
ND02171	285	286	0.02	0.01	0.00	0.03	0.25	0.01	0.01
ND02172	286	287	0.03	0.01	0.00	0.05	0.26	0.01	0.01
ND02174	287	288	0.02	0.02	0.01	0.04	0.25	0.01	0.01
ND02175	288	289	0.02	0.01	0.00	0.03	0.26	0.01	0.01

Table 2: Summary of NDD0025 analytical results from 228-289m

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792 SUITE 11, 23 Railway RD SUBIACO, WA 6008 http://www.aldororesources.com

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Summary Drill Logs

NDD0023 Summary Log

Hole_ID	**From(m) **	**To(m) **	Lithology	Alteration	Sulphides	Comments
NDD0023	0.00	1.50	Residual soil			Brown reddish soil
	1.50	41.50	Saprock	Localisedquartz-carbonate veining		Harzburgite saprock
	41.50	154.00	Pyroxenite	Minorpervasive silicification & serpentinitisation
	154.00	202.80	Norite			Fine to mediumgrained
	202.80	206.30	Olivine Websterite	Minor serpentinitisation
	206.30	215.30	Pyroxenite	Minor serpentinitisation
	215.30	226.00	Olivine Gabbronorite
	226.00	226.80	Peridotite	Minor serpentinitisation	Pyrrhotite(1%)
	226.80	233.50	Pyroxenite	Minor serpentinitisation		Sheared
	233.50	241.70	Norite	Serpentinised
	241.70	282.40	Pyroxenite	Serpentinised		Spotty pyroxenite
	282.40	324.00	Harzburgite	Serpentinised		Cumulate texture
	324.00	343.80	Pyroxenite	Serpentinised
	343.80	344.50	Dolerite
	344.50	357.00	Pyroxenite	Serpentinised
	357.00	358.30	Pegmatite
	358.30	363.60	Pyroxenite
	363.60	367.20	Harzburgite	Serpentinised
	367.20	391.10	Pyroxenite			Spotty pyroxenite
	391.10	391.40	Pegmatite
	391.40	409.50	Pyroxenite
	409.50	411.00	Pegmatite
	411.00	427.00	Pyroxenite	Serpentinised
	427.00	435.30	Harzburgite	Serpentinised		Magnetic
	435.30	436.30	Harzburgite	Serpentinised
	436.30	449.50	Harzburgite	Serpentinised
	449.50	453.00	Pyroxenite	Serpentinised
	453.00	454.50	Harzburgite	Serpentinised
	454.50	475.3	Norite	Serpentinised
	475.30	480.50	Norite	Serpentinised	Chalcopyrite(1%)
	480.50	483.24	Norite	Serpentinised
	483.24	484.04	Harzburgite
	484.04	494.49	Basalt	Chloritic;silicic	Minorpyrite
	494.49	496.37	Harzburgite
	496.37	496.86	Pyroxenite	Chloritic
	496.86	500.06	Basalt	Weak chloritic	Minorpyrrhotite(499.47-499.76m)
	500.06	506.19	Harzburgite
	506.19	508.50	Basalt
	508.50	516.66	Basalt	Chloritic;silicic	Pyrrhotite(2-6%); pyrite(3%)	Finegrained sulphides
	516.66	541.63	Basalt	Chloritic;silicic
	541.63	541.82	Basalt	Sericite;carbonate;silicic	Chalcopyrite(5%)	Blebbyfine-grained sulphides
	541.82	543.29	Undifferentiated Ultramafic	Chloritic	Pyrrhotite(3%)
	543.29	545.87	Undifferentiated Mafic	Carbonate	Pyrite(1%)
	545.87	547.20	Undifferentiated Ultramafic
	547.20	547.80	Faultgouge
	547.80	549.12	Harzburgite	Carbonate
	549.12	551.82	Ultramafic schist	Chloritic
	551.82	552.45	Faultgouge		Petlandite(1%)
	552.45	555.02	Harzburgite	Chloritic
	555.02	565.25	Ultramafic schist	Chloritic	Pyrite(1%)
	565.25	571.20	Harzburgite	Chloritic

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792 SUITE 11, 23 Railway RD SUBIACO, WA 6008 http://www.aldororesources.com

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NDD0024 Summary Log

Hole_ID	**From(m) **	**To(m) **	Lithology	Alteration	Sulphides	Comments
NDD0024	0.00	18.40	Upper saprolite			magnesitepseudoveins
	18.40	25.20	Mottled zone
	25.20	35.80	Basalt	limonite
	35.80	45.30	Harzburgite
	45.30	47.19	Basalt	epidote		silica-clayeyfaultgouge sub-parallel to core axis
	47.19	54.31	Harzburgite	chloritic
	54.31	70.98	Harzburgite	chloritic	petlandite(1%); pyrite(2%)	minor sulphide dissemination
	70.98	84.42	Harzburgite	siderite		magnesitepseudo veins friable, powdery
	77.95	95.57	Peridotite		pyrite(1%)	minor sulphide dissemination,raregarnets
	95.57	95.84	Undifferentiated ultramafic	propylitic		propilitisedperitonitis with zeolite/kaolinite(?)
	95.84	96.84	Basalt	sericitic
	96.84	98.20	Harzburgite
	98.20	101.42	Basalt	sericitic
	100.52	108.26	Harzburgite
	108.26	114.74	Peridotite	chloritic
	114.74	117.20	Peridotite	sericitic
	120.00	128.33	Basalt		pyrite(1%)	minorpyrite in fractureplanes
	128.33	142.61	Peridotite	chloritic
	142.61	152.63	High-Mgbasalt	propylitic
	152.60	154.38	Peridotite	chloritic
	154.38	162.51	Harzburgite	carbonic		high carbon content
	162.51	190.42	Undifferentiated ultramafic	serpentinised
	190.42	195.88	Gabbro	propylitic
	195.88	199.05	Undifferentiated ultramafic
	199.05	202.77	Harzburgite	chloritic
	202.77	270.00	Harzburgite	serpentinised
	270.00	292.00	Dunite	serpentinised
	292.00	309.20	Pyroxenite	serpentinised
	309.20	316.00	Porphyry
	316.00	319.90	Porphyry		pyrite(1%);chalcopyrite(1%)
	319.90	327.10	Undifferentiated
	327.10	327.50	Dolerite	quartz
	327.50	354.90	Anorthosite	quartz
	354.90	355.20	Peridotite		pyrrhotite(1%)
	355.20	368.30	Andesite	quartz
	368.30	368.60	Granite
	368.60	379.40	Dolerite
	379.40	393.45	Dolerite	quartz
	393.45	394.00	Quartz breccia		pyrrhotite(1%);chalcopyrite(1%)
	394.00	400.80	Dolerite	quartz
	400.80	405.80	Undifferentiated ultramafic	quartz
	405.80	408.40	Pegmatite
	408.40	411.90	Undifferentiated ultramafic	serpentinised
	411.90	459.50	Dolerite	quartz		Feldsparphenocrysts
	459.50	462.40	Undifferentiated ultramafic
	462.40	462.60	Anorthosite			Minor magnetism
	462.60	463.20	Dunite	serpentinised
	463.20	469.70	Dunite		pyrrhotite(1%)
	469.70	471.30	Dolerite	quartz
	471.30	476.20	Dunite	serpentinised
	476.20	476.50	Dolerite
	476.50	481.45	Dunite	serpentinised
	481.45	481.80	Dolerite
	481.80	489.30	Dunite	serpentinised
	489.30	493.50	Dolerite	quartz
	493.50	498.00	Undifferentiated ultramafic	graphitic
	498.00	504.00	Dolerite	quartz
	504.00	504.30	Undifferentiated ultramafic	graphitic
	504.30	505.90	Anorthosite		chalcopyrite(1%); pyrrhotite(1%)
	505.90	507.90	Undifferentiated ultramafic	serpentinised
	507.90	509.10	Anorthosite
	509.10	515.70	Undifferentiated ultramafic	serpentinised		Magnetic;some brittle fractures
	515.70	517.70	Anorthosite
	517.70	521.00	Dunite	serpentinised		Magnetic
	521.00	524.90	Dolerite	quartz
	524.90	526.50	Dunite	serpentinised
	526.50	527.20	Pegmatite
	527.20	528.20	Dunite	serpentinised
	528.20	528.50	Pegmatite
	528.50	530.10	Dunite	serpentinised		Quartz flooded
	530.10	541.50	Undifferentiated ultramafic	serpentinised
	541.50	546.90	Dunite	serpentinised

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792 SUITE 11, 23 Railway RD SUBIACO, WA 6008 http://www.aldororesources.com

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NDD0025 Summary Log

Hole_ID	**From(m) **	**To(m) **	Lithology	Alteration	Sulphides	Comments
NDD0025	0.00	23.50	Unknown origin
	23.50	34.70	Peridotite			cherty quartz veins
	34.70	41.50	Pyroxenite			spotty pyroxenite
	41.50	43.70	Dolerite
	43.70	102.00	Pyroxenite			poikolitic spotty pyroxenite
	102.00	108.10	Dunite	graphitic
	100.10	121.70	Pyroxenite
	121.70	142.00	Pyroxenite	silicic
	142.00	163.74	Pyroxenite	silicic		magnetite(1%)
	163.74	182.14	Pyroxenite	chloritic		ferruginous;minor Fe-phlogopite
	182.14	184.10	Serpentinite	serpentinised	pyrite(1%)	possiblyheavilyserpentinised lherzolite
	184.20	186.05	Strongalteration -protolith not recognisable	serpentinised	pyrite(1%)
	186.05	189.63	High-Mgbasalt	chloritic	pyrite(1%)
	189.63	192.80	Peridotite	silicic	pyrite(1%)
	189.63	195.40	Gabbro	propylitic
	195.40	208.90	Peridotite	propylitic		minor Fephlogopite in fractures
	208.90	218.00	Pyroxenite	propylitic		pyroxene oikocrysts upto 15 mm
	218.00	218.40	Faultgouge	propylitic	pyrite(3%)
	218.40	231.50	Pyroxenite	propylitic		large upto 15 mmpyroxene oikocrysts
	231.50	249.70	Peridotite	propylitic	pyrite(1%)	moderate talc alteration,selective replacement and fracture fill
	249.70	250.60	Strongalteration - ser-carb-sil-py	sericitic	pyrite(3%); pyrrhotite(2%)	disseminatedpy/po in a zone strongse-si-chl alteration
	250.60	255.80	Gabbro	silicic	pyrite(2%); pyrrhotite(1%)	troctolite
	255.80	259.40	Pyroxenite	silicic	pyrite(2%); pyrrhotite(1%)
	259.40	266.80	Strongsilicification	propylitic	pyrite(1%)	secondary Ni minerals form coatings in fracture planes strong si-se-chl -ep alteration
	266.80	282.50	Pyroxenite	propylitic	pyrite(1%)	secondary Ni minerals form coatings in fracture planes in fracturespycrystals form blebs andpolycrystalline masses upto 5 mm
	282.50	287.30	Peridotite	silicic	sulphides(1%)	common coatings of secondaryNi minerals in fractureplanes
	287.30	310.10	Peridotite	propylitic		rare coatings of secondary Ni minerals in fracture planes trace subhedralpyrite crystals upto 20x15x1 mm in selvedge
	310.10	310.60	Silicified fault zone	silicic
	310.60	311.40	Pyroxenite	serpentinised		trace coatings of secondaryNi minerals in fractureplanes
	311.40	333.20	Gabbro	propylitic		Troctolite
	333.20	354.80	Pyroxenite	propylitic		pyroxene oikocrysts upto 20 mm
	354.80	368.40	Peridotite	propylitic		Harzburgite with high Fe-phlogopite content in rock matrix;mica appears as a rock-formingmineral
	368.40	369.30	Strongalteration -protolith not recognisable	graphitic	chalcopyrite(1%); pyrite(1%)
	369.30	379.00	Pyroxenite	propylitic		trace calcite in fractures EOH 379.0m

NDD0026 Summary Log

HoleID	**mFrom **	mTo	Lithology1	Alteration1	Mineralisation1	Comments
NDD0026	30.0	34.9	Saprock	silicic
	34.9	36.0	Pyroxenite	argillic
	36.0	37.7	Pyroxenite	argillic		large upto 30mmpyroxene oikocrysts
	37.7	56.5	Pyroxenite	argillic		secondaryNi minerals in fractureplanes
	56.5	56.7	Fault - faultgouge	bleached
	56.7	78.3	Pyroxenite	silicic		common 15-20mmpyroxene oikocrysts
	78.3	80.7	Pyroxenite	sericitic	pyrrhotite(1%), pentlandite(0.5%)	sulphides disseminated inquartz-sericite-carbonate-chlorite veinlets
	80.7	82.0	Pyroxenite	serpentinised
	82.0	90.8	Pyroxenite			spotty pyroxenitepoikolitic
	90.8	91.5	Pyroxenite	serpentinised		silicifiedpyroxenite
	91.5	92.7	Pyroxenite	silicic		brecciated and faulted with intense silicification
	92.7	101.9	Pyroxenite	serpentinised
	101.9	102.7	Peridotite	serpentinised		sheared alteredperidotite
	102.7	104.5	Pyroxenite	serpentinised		sheared alteredperidotite
	104.5	115.8	Pyroxenite	serpentinised
	115.8	116.7	Pyroxenite	serpentinised		sheared alteredperidotite
	116.7	119.3	Pyroxenite	serpentinised
	119.3	122.2	Pyroxenite	serpentinised		sheared alteredperidotite
	122.2	140.4	Pyroxenite	serpentinised		poikoliticpyroxenite,silica opalines,numerous faults
	144.4	175.5	Pyroxenite	serpentinised		componentpoikolitic spotty pyroxenite
	175.5	190.2	Pyroxenite	serpentinised
	190.2	190.4	Dunite
	190.4	193.4	Pyroxenite	serpentinised
	193.4	214.0	Pyroxenite	serpentinised
	214.0	227.0	Pyroxenite	serpentinised
	227.0	249.8	Dunite	serpentinised		faulted dunite cumulate
	249.8	262.5	Dunite	serpentinised	pyrite(0.1%)	sheared serpentinised dunite
	262.5	267.0	Dunite		pyrite(0.1%)	sharpcontact,tracepyrite interstitial to cumulate texture
	267.0	282.0	Pyroxenite	serpentinised
	282.0	289.0	Pyroxenite	serpentinised
	289.0	311.5	Pyroxenite	serpentinised
	311.5	313.0	Pyroxenite	serpentinised		Sheared
	313.0	354.1	Pyroxenite	serpentinised

ENDS

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792 SUITE 11, 23 Railway RD SUBIACO, WA 6008 http://www.aldororesources.com

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Figure 6. Location of the ARN landholding over the Murchison Terrane

About Aldoro Resources

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

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.

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792 SUITE 11, 23 Railway RD SUBIACO, WA 6008 http://www.aldororesources.com

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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.

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.

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

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792 SUITE 11, 23 Railway RD SUBIACO, WA 6008 http://www.aldororesources.com

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JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary	Commentary
Sampling	• Nature and quality of sampling (eg cut channels, random chips, or	•	Diamond drilling samples comprise of half core nominal 1m
techniques	specific specialised industry standard measurement tools appropriate		lengths cut at a laboratory and the sampling techniques are
	to the minerals under investigation, such as downhole gamma		considered appropriate for exploration purposes for this style of
	sondes, or handheld XRF instruments, etc). These examples should		mineralisation and deposit.
	not be taken as limiting the broad meaning of sampling.	•	Diamond drilling produced half NQ2 core samples which were
	• Include reference to measures taken to ensure sample representivity		submitted to Intertek Genalysis Laboratory Services Perth for
	and the appropriate calibration of any measurement tools or systems		geochemical analysis
	used.	•	Sample intervals were 1m in length based solely on inclined
	• Aspects of the determination of mineralisation that are Material to the		depth
	Public Report.	•	QAQC samples were included at a 15m intervals with quartz
	• In cases where ‘industry standard’ work has been done this would be		wash samples after selected sulphide zones.
	relatively simple (eg’ reverse circulation drilling was used to obtain 1	•	Sample preparation included drying, crush and pulverisation to -
	m samples from which 3 kg was pulverised to produce a 30 g charge		75μm (SV03) and weighing (WT01)
	for fire assay’). In other cases more explanation may be required,	•	Samples were analysed by 2 total digest methods, 4A/MS multi-
	such as where there is coarse gold that has inherent sampling		acid digest including Hydrofluoric, Nitric, Perchloric and
	problems. Unusual commodities or mineralisation types (eg		hydrochloric acids in Teflon tubes for an ICP-MS finish for 48
	submarine nodules) may warrant disclosure of detailed information.		elements, 4A/OE using the 4 acid digest but with and ICP-OES
			finish for Ni
		•	Au, Pt, Pd were determined by method FA25/MS (25g lead
			collection fire assay in new pots with an ICP-MS finish)
		•	IP geophysical surveying has been carried out by Echo Vista Pty
			Ltd to target massive sulphides associated with magmatic Ni-Cu-
			PGE’s in the Narndee Igneous Complex under Aldoro’s Narndee
			project.
		•	The Inducted Polarisation sounding method was used with a
			5kW transmitter, Model VIP5000 by IRIS instruments, with 10
			true differential inputs (10 channel), operating on transmitter
			frequency range of 0.0625 to 4Hz (by factors of 2) and using
			industry standard compliant core receiver and current
			transmission wires
		•	The stations were at 40m intervals along east-west lines
			(perpendicular to the local geological strike) at various lengths,
			800m to 1520m with line spacings of 100m

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Criteria	JORC Code explanation	Commentary
Drilling	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air	• Diamond core drilling was conducted by Orlando Drilling with
techniques	blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple	collars positioned by handheld GPS with a +/-5m accuracy and
	or standard tube, depth of diamond tails, face-sampling bit or other	using an average technique based on time.
	type, whether core is oriented and if so, by what method, etc).	• The top of the collar was reamed using a Chlore tool using to 6m
		depth.
		• Holes are drilled by HQ3 to fresh rock, cased off and drilled NQ2
		to end of the hole
		• 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
		• All holes have been post drilling surveyed using a down hole
		gyro collecting continuous readings of dip and azimuth down
		hole
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
	• Whether a relationship exists between sample recovery and grade	•Sample bias is very unlikely given the very good sample recoveries
	and whether sample bias may have occurred due to preferential	especially below the base of oxidation.
	loss/gain of fine/coarse material.	•As the core loss is relatively low, no sample bias is considered
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 on handheld digital devices recording lithologies,
	Mineral Resource estimation, mining studies and metallurgical	colour weathering, alteration, mineralisation, veining, gangue and well
	studies.	as α and β structural information.
	• Whether logging is qualitative or quantitative in nature. Core (or	•The logging is generally considered both qualitative and quantitative
	costean, channel, etc) photography.	in nature with all core photographed, both wet and dry.
	• The total length and percentage of the relevant intersections logged.	•Core lengths are tape measured with any loss recorded both digitally
		and core markers.

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Criteria	JORC Code explanation	Commentary	Commentary
Sub-sampling	• If core, whether cut or sawn and whether quarter, half or all core	•	Selected NQ2 core samples on half cut core based on geology
techniques and	taken.		and sulphide occurrence and submitted for geochemical analysis
sample	• If non-core, whether riffled, tube sampled, rotary split, etc and		at 1m lengths
preparation	whether sampled wet or dry.	•	The size of the sample from the diamond drilling method is the
	• For all sample types, the nature, quality and appropriateness of the		industry standard for the mineralisation style analytical technique
	sample preparation technique.	•	Sample preparation includes drying, crushing, splitting and
	• Quality control procedures adopted for all sub-sampling stages to		pulverising before analysis
	maximise representivity of samples.	•	QAQC standard samples of CRM pulps and quartz were
	• Measures taken to ensure that the sampling is representative of the in		included routinely, duplicate aliquots were used at 30m intervals.
	situ material collected, including for instance results for field	•	Sample sizes are considered appropriate for the rock type, style
	duplicate/second-half sampling.		of mineralisation (massive, stringer and disseminated sulphides),
	• Whether sample sizes are appropriate to the grain size of the material		the thickness and consistency of the intersections, the sampling
	being sampled.		methodology and percent value assay ranges for the primary
			elements within the Narndee Project
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 check
tests	• For geophysical tools, spectrometers, handheld XRF instruments, etc,		pXRF readings. These are not reported due to a lack of
	the parameters used in determining the analysis including instrument		confidence due to the small sampling window and the bias this
	make and model, reading times, calibrations factors applied and their		produces.
	derivation, etc.	•	Standard reference materials were analysed routinely by pXRF
	• Nature of quality control procedures adopted (eg standards, blanks,		and found to be reporting withing acceptable limits
	duplicates, external laboratory checks) and whether acceptable levels	•	Quality control methods to be used include external standards
	of accuracy (ie lack of bias) and precision have been established.		and blanks to establish precision from the lab
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 are
	• Documentation of primary data, data entry procedures, data		adopted for the core samples
	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

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Criteria	JORC Code explanation	Commentary	Commentary
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.	•	Aldoro holes are surveyed by a Reflex GYRO SPRINT-IQ
	• Quality and adequacy of topographic control.	•	The holes are yet to be accurately modelled vertically from DEM
Data spacing	• Data spacing for reporting of Exploration Results.	•	Not relevant as only 4 holes have been completed to test various
and	• Whether the data spacing and distribution is sufficient to establish the		IP anomalies
distribution	degree of geological and grade continuity appropriate for the Mineral	•	The IP survey parameters were designed to give depth
	Resource and Ore Reserve estimation procedure(s) and		penetration to 800m and the orientation to give control in
	classifications applied.		discriminating conductivity changes
	• Whether sample compositing has been applied.	•	A Mineral Resource is not being reported
		•	No sample compositing has been applied, but assay results are
			reported on a length weighted average
Orientation of	• Whether the orientation of sampling achieves unbiased sampling of	•	The orientation of drilling is as close to perpendicular to the
data in relation	possible structures and the extent to which this is known, considering		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	•	The geophysical survey has been designed to be orthogonal to
	sampling bias, this should be assessed and reported if material.		the anticipated mineralisation. The interpretated anomalous
			chargeability/resistivity features identified are consisted with the
			petrophysical properties targeted, i.e., massive sulphides,
			however these require validation through drilling to see if they
			relate to Ni-Cu-PGE mineralisation
Sample	• The measures taken to ensure sample security.	•	Selected core trays were hand delivered to the assay laboratory
security			for cutting and assaying 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	• Summary information of the diamond holes is provided in the
Information	exploration results including a tabulation of the following information	text.
	for all Material drill holes:	• The relevant details for Aldoro’s drilling are contained in the body
	o easting and northing of the drill hole collar	of this announcement

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Criteria	JORC Code explanation	Commentary	Commentary
	o elevation or RL (Reduced Level – elevation above sea level in	•	The use of any data is recommended for indicative purposes
	metres) of the drill hole collar		only in terms of potential Ni- Cu-PGE mineralisation and for
	o dip and azimuth of the hole		developing exploration targets
	o down hole length and interception depth	•	Full analytical data was not provided in this report only the data
	o hole length.		pertaining to the style of mineralised being tested PGE-Au-Ni-
	• If the exclusion of this information is justified on the basis that the		Cu-Co. XRF data was also not provided as it is considered not
	information is not Material and this exclusion does not detract from		representative in nature and is only used for aiding in lithological
	the understanding of the report, the Competent Person should clearly		and mineral context.
	explain why this is the case.
Data	• In reporting Exploration Results, weighting averaging techniques,	•	Aldoro results will be presented on a length weighted average, in
aggregation	maximum and/or minimum grade truncations (eg cutting of high		this case 1m intervals
methods	grades) and cut-off grades are usually Material and should be stated.	•	No short interval lengths were reported.
	• Where aggregate intercepts incorporate short lengths of high grade	•	No metal equivalent values have been reported.
	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	•	All significant and relevant intercepts have been highlighted and
reporting	practicable, representative reporting of both low and high grades		key elements have been reported in all tested intervals.
	and/or widths should be practiced to avoid misleading reporting of
	Exploration Results.

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Criteria	JORC Code explanation	Commentary	Commentary
Other	• Other exploration data, if meaningful and material, should be reported		IP sounding and Gradient array techniques have been utilised
substantive	including (but not limited to): geological observations; geophysical
exploration	survey results; geochemical survey results; bulk samples – size and
data	method of treatment; metallurgical test results; bulk density,
	groundwater, geotechnical and rock characteristics; potential
	deleterious or contaminating substances.
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,	•	Exploration is at an early stage, and longer-term future work will
	including the main geological interpretations and future drilling areas,		be results driven
	provided this information is not commercially sensitive.

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