ALDORO RESOURCES LIMITED — Capital/Financing Update 2024

Jul 21, 2024

ASX and Media Release 22 July 2024

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LOYALTY OPTION ENTITLEMENT OFFER

Aldoro Resources Ltd (“ Aldoro ”, the “ Company” ) ( ASX: ARN ) is pleased to announce that it has today lodged a prospectus with ASIC (“ Prospectus ”) in respect of a non-renounceable entitlement offer (“ Offer ”) of one (1) option (“ Loyalty Option ”) for every four (4) fully paid ordinary shares in the capital of the Company (“ Shares ”) held by those holders of Shares (“ Shareholders ”) at the record date with registered addresses in Australia, New Zealand and Singapore (“ Eligible Shareholders ”) at an issue price of $0.02 per loyalty option to raise up to $673,119 before costs (“ Offer ”). Each Loyalty Option will be exercisable at $0.12 on or before 1 June 2029. In addition, the Company will issue 5,000,000 options (on the same terms and conditions as the Loyalty Options) subject to shareholder approval, to Ms Quinn Li (or her nominees) at an issue price of $0.001 per Option to raise up to $5,000 (“ Director Offer ”).

Based on the capital structure of the Company as at the date of this announcement, a maximum of 33,655,936 Loyalty Options will be issued pursuant to this Offer. If all Options issued under the Offer are exercised, the Company will receive approximately $4,038,712.

The funds raised from the Offers are intended to be used as follows:

Preparations for drillprogram at the KameelburgProject	$547,474	80.74%
WorkingCapital	$50,000	7.37%
Expenses of Offer	$80,645	11.89%
TOTAL	$678,119	100%

Further details of the Offer, including details on how to accept and key risks of an investment in the Company will be set out in the Prospectus. Outlined below is a timetable of relevant events and dates relating to the Offer. These events and dates are indicative only and subject to change. Subject to the ASX Listing Rules, the Corporations Act and other applicable laws, the Company’s Board reserves the right to modify all dates, including the Offer closing date.

	Announcement of Offer	Announcement of Offer	Monday,22 July2024	Monday,22 July2024
	Lodgement of Prospectus with ASIC & ASX		Monday,22 July2024
	Ex date		Thursday,25 July2024
	Record Date for determiningentitlements		Friday,26 July2024
	Prospectus despatched to Shareholders & Company announcesdespatch has been completed		Wednesday, 31 July 2024
	Last dayto extend ClosingDate		Tuesday,6 August 2024
	ClosingDate		Friday,9 August 2024
	Securities quoted on a deferr	ed settlement basis from market	Monday 12 August 2024
	open		,
	Announcement of results of iss	ue	Friday16 August 2024
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	I dt		Fid16 At 2024
ssue ae	ssue ae		ray,ugus

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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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The Company has entered into a mandate with Xcel Capital Pty Ltd (ACN 617 047 319) (“ Lead Manager ”) for the appointment of the Lead Manager to provide lead manager services to the Company in respect of the Offer. The Lead Manager will receive a fee equal to 6% of the funds raised under the Offer, together with an issue of 2,500,000 options on the same terms as the Loyalty Options.

The Company aims to quote the Loyalty Options subject to meeting ASX quotation requirements. Xcel Capital intends to place any shortfall from the Offer.

This Announcement has been approved for release by the Board of Aldoro Resources Ltd

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, all located in Western Australia. 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, the Wyemandoo lithium-rubidium-tungsten project and the Niobe lithium-rubidium-tantalum Project.

Disclaimer

This release does not constitute an offer to sell, or the solicitation of an offer to buy, securities in the United States or in any other jurisdiction in which such an offer or sale would be illegal. This release may not be distributed or released in the United States. No action has been or will be taken to register, qualify or otherwise permit a public offering of the securities referred to in this release in any jurisdiction outside Australia. In particular, the options to be offered in the Offer have not been, and none of them will be, registered under the U.S. Securities Act of 1933 (the " Securities Act ") or the securities laws of any state or other jurisdiction of the United States. Accordingly, the options may not be offered, directly or indirectly, to, any person in the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable U.S. state securities laws.

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,

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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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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