ALDORO RESOURCES LIMITED — Investor Presentation 2021

Jun 30, 2021

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DE-RISKING THE ROAD TO SUCCESS

NARNDEE NICKEL-PGE PROJECT Investor Presentation July 2021

ASX:ARN

NATURE OF THIS DOCUMENT

This presentation has been prepared by Aldoro Resources Limited ACN 622990809 (Company). The information is based on publicly available information, internally developed data and other sources. By receiving this presentation, you acknowledge and represent to the Company that you have read, understood and accepted the terms of this disclaimer.

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It is the responsibility of all recipients of this presentation to obtain all necessary approvals to receive this presentation and receipt of this presentation will be taken by the Company to constitute a representation and warranty that all relevant approvals have been obtained.

This presentation is a visual aid and is not intended to be read as a stand alone document. The material contains selected and abbreviated summary information about the Company and its subsidiaries and their activities current as at the date of this presentation. The material is of general background and does not purport to be complete. The Company is not responsible for providing updated information and assumes no responsibility to do so.

NOT AN OFFER

This presentation is for information purposes only and does not purport to be all inclusive or to contain all information about the Company or any of the assets, current or future, of the Company. This presentation does not comprise a prospectus, product disclosure statement or other o ff ering document under Australian law (and will not be lodged with ASIC) or any other law.

This presentation also does not constitute or form part of any invitation, o ff er for sale or subscription or any solicitation for any o ff er to buy or subscribe for any securities in any jurisdiction nor shall they or any part of them form the basis of or be relied upon in connection therewith or act as any inducement to enter into any contract or commitment with respect to securities.

This presentation does not constitute an o ff er to sell, or a solicitation of an o ff er to buy, any securities in the United States. This presentation and its contents must not be distributed, transmitted or viewed by any person in the United States or any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction.

NOT INVESTMENT ADVICE

To the maximum extend permitted by law, the information contained in this presentation is given without any liability whatsoever being accepted by the Company or any of its related bodies corporate or their respective directors, o ffi cers, partners, employees, advisors and agents. This presentation is not investment or financial product advice (nor tax, accounting or legal advice) and its contents are not intended to be used for the basis of making an investment decision. No representation or warranty, express or implied, is made as to the accuracy, completeness or thoroughness of the information, whether as to the past or future.

Recipients of this presentation should carefully consider whether the company is an appropriate investment for them in light of their personal circumstances, including their financial and taxation position. This presentation does not take into account the individual investment objectives, financial situation and particular needs of each recipient of this presentation. Therefore recipients of this presentation may wish to seek independent financial and taxation advice before making any decision in respect of this presentation. Neither the Company nor any of its related bodies corporate is licensed to provide financial product advice in respect of the Company’s securities or any other financial products.

FORWARD LOOKING STATEMENTS

Statements and material contained in this presentation, particularly those regarding possible or assumed future performance, production levels or rates, commodity prices, resources or potential growth of the Company, industry growth or other trend projects are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties and are based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant.

Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially di ff erent from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of commodities, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. Readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. DISCLAIMER

No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, o ffi cers, employees, advisers and agents expressly disclaims any responsibility for the accuracy, fairness, su ffi ciency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this presentation, and excludes all liability whatsoever (including in negligence) for any loss or damage which may be su ff ered by any person as a consequence of any information in this presentation or any error or omission there from. To the maximum extent permitted by the law, the Company disclaims any obligation to update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice. 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) and has been compiled and assessed under the supervision of Luke Marshall, a geological consultant to Aldoro Resources Ltd. Mr. Marshall 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. Marshall consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. MONETARY VALUES

Unless otherwise stated, all dollar values are in Australian Dollars (A$). The information in this presentation remains subject to change without notice.

ASX: ARN | aldororesources.com

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CORPORATE OVERVIEW

Capital Structure

ASX Code	ARN
Share Price	$0.30
Shares on issue	80.5M
Options	30.1M
Market capitalisation	$24.5M
Cash (at 30-June 20)	$3.9M
Enterprise Value	$20.6M
Number of shareholders	1,128
Top 20 shareholders	48%

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All figures as at 30 June 2021 unless otherwise stated. Option on issue are as follows:

• 20,878,474 $0.30 ex & 31 Aug 23 expiry - 2,500,000 $0.175 ex & 9 Sept 23 expiry

• • 2,000,000 $0.225 ex & 18 Nov 22 expiry - 4,800,000 $0.234 ex & 9 Sept 23 expiry

ASX: ARN | aldororesources.com

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INVESTMENT HIGHLIGHTS

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Narndee Ni-PGE Project – A game changer with visibility to a maiden drilling program

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GLOBALLY SIGNIFICANT

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100% OWNERSHIP

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$3.9M IN BANK

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RIGHT COMMODITY PLACE AND TIME

UNPRECEDENTED SCALE

1[ST] CLASS JURISDICTION

FUNDED FOR DRILLING

BATTERY REVOLUTION

The Narndee Complex is the largest layered maficultramafic complex in Australia and ranks in the top 10 globally with respect to size complemented with unique geology prospective for Ni-Cu-PGE deposits.

The company are in a prime position to offer the market and investors a projects in a world class jurisdiction given it “whole of play” position covering 306km² coupled with a tight and well held capital structure.

Aldoro Resources has a well positioned bank balance combined with a high-quality register of shareholders demonstrating long hold positions, the current funding is sufficient for progressing the project through to the 3D modeling and commencement of the drilling program.

Global nickel demand is expected to rise by 2.6 million tonnes in 2040, with Australia’s greenfield and brownfield projects to play a significant role in future demand.

ASX: ARN | aldororesources.com

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DERISKING TIMELINE

Modern Exploration at Narndee – Unlocking Success

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FEB/JUN JUL JUL JUL AUG>
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FLTEM MLTEM FIELD VISIT DRILL PLAN

2DIP & GAIP

FIRST HOLES

DOWN HOLE EM

DIAMOND DRILLING

ASX: ARN | aldororesources.com

NARNDEE NICKEL–PGE PROJECT

Narndee Ni-PGE Project – Aldoro 100%

Significant land position in the Narndee-Windimurra Complex

• Largest layered mafic-ultramafic complex in Australia.

• Aldoro holds 100% of the basal ultrmafic portion of the Narndee Complex and 100% of the Mulyeron Hill ultramafic portion of the Windimurra Complex.

A working sulphide mineral system present

• Numerous surface gossans identified by INCO with shallow drill results up to 10.5m at 1.5% nickel from surface.

• Extensive surface geochemical anomalies of up to 6,190ppm Ni, 672ppm Cu and 595ppb Pt/Pd in soil.

High-value targets identified

• 16 major identified withing the core area of the complex.

• Historic surface geochemistry correlates well with a number of targets.

Further industry leading derisking to commence

Exploration driller mobilizing to site

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ASX: ARN | aldororesources.com

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NARNDEE NICKEL–PGE PROJECT

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New data closing in on the resource discovery

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• Historical work used only basic magnetic survey with geochem to detect targets,

Aldoro have identified targets using multiple layers of geophysics ,

• Historical drilling has confirmed Ni/Cu grades in over 5km2 around the Aldoro targets identified,

• The closest historical drill hole was by Maximus some 40 meters away from Aldoro’s VC1 target

• Aldoro’s VC11 strong conductor target has had no historical workings in the area,

• Gossins at surface appear to be along strike to Aldoro’s VC1 target

Image: Geological map of the NIC, showing the positions of Gossan 1 and Gossan 2 in relation to the VC1/VC11 drill targets.

ASX: ARN | aldororesources.com

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NARNDEE NICKEL–PGE PROJECT Making rapid progress towards a discovery.

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Field visit confirmed historical drill holes and Gossans at surface

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Drill pads cleared and drill rig expected to arrive at site any day

ASX: ARN | aldororesources.com

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INVESTMENT HIGHLIGHTS Unprecedented leverage to Nickel/PGE drilling commencing July 2021 High potential for large resource Proven team who have historically made significant nickel discoveries Diligent execution of exploration plan Quality shareholders - long term & supportive track record Funded for our focus on battery metal resources (Nickel & Lithium) 100% held projects in our key focus areas

ASX: ARN | aldororesources.com

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THANK YOU