ALDORO RESOURCES LIMITED — Capital/Financing Update 2024

Oct 20, 2024

ASX and Media Release 21 October 2024

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SUCCESSFUL KAMEELBURG LICENSE RENEWAL & CAPITAL UPDATE

Highlights

• The Successful completion of the transfer of the Kameelburg Prospecting Licenses EPL 7372, 7373 & 7895 to the Aldoro JV operating company “Kameelburg Exploration Mining (Pty) Ltd”

• The transfer complements the renewal of all three licenses that was secured in August 2024.

• Circa $1.5m raised from the partial sale of listed investments.

License Renewal

Aldoro Resources Ltd (“ Aldoro ”, “ The Company” ) ( ASX: ARN ) is pleased to advise that the Namibian Ministry of Mines and Energy has approved the transfer of the Kameelburg Project’s Exclusive Prospecting Licenses (EPL 7372, 7373 and 7895) from Logan Exploration & Investments CC to the Aldoro JV operating company Kameelburg Exploration Mining (Pty) Ltd.

This transfer follows the successful license renewal of the Kameelburg licenses in August 2024 (refer ARN ASX announcement 12 August 2024).

Capital Update

Aldoro is pleased to advise that is has sold circa 3.5 million shares in Aurum Resources Limited (ASX: AUE) which has generated proceeds of $1.54 million net of brokerage commissions. The Company retains 1,545,592 Aurum shares.

The Company’s funding position was materially improved following a successful loyalty option entitlement offer to shareholders and subsequent shortfall placement which raised $673,119 before costs. Additional funding of $1.54 million was secured through the sale of the AUE listed securities.

Authorised for and on behalf of the Board,

Sarah Smith Company Secretary

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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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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. The Company’s suite of projects include the Kameelburg REE & Niobium Project in Namibia, the Wyemandoo lithium-rubidium-tungsten project, the Niobe lithium-rubidium-tantalum project and the Narndee Igneous Comples project in Western Australia.

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