ALDORO RESOURCES LIMITED — Management Reports 2020

Nov 26, 2020

ASX: ARN ASX ANNOUNCEMENT 27 NOVEMBER 2020

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27[th] November 2020

CHAIRMAN’S LETTER TO SHAREHOLDERS

Dear Shareholders,

The year 2020 has been eventful for all – not just for Aldoro Resources Limited ( Company or Aldoro ), but all participants of financial markets. Late last year, the Company completed the acquisition of Altilium Metals Limited and undertook subsequent exploration of the Penny South gold project. Although early-stage assays did not deliver results within market expectations, they were nonetheless encouraging - and the board of Aldoro will re-assess the project in its entirety before finalising a decision on whether further exploration is warranted.

This week the Company saw a change of representation at board level with the departure of two board members and the addition of Mr Troy Flannery and Mr Lincoln Ho who join the Company as non-executive directors. The newly appointed board of directors have a wealth of experience in mineral exploration, developing assets and providing funding to enhance significant benefits to shareholders. The immediate focus for the board is to assess its current projects to ensure they are in line with the Company’s strategy to deliver growth in shareholder value going forward.

A key objective from here is to increase activity in both project exploration and communication with shareholders. Over the coming months, the Company will focus its attention on its exciting Ni-Cu-PGE project at the Narndee Igneous Complex. It will certainly be a busy six months as the Company embarks on delivering regular activity updates to the market regarding exploration and corporate progress.

Other objectives include undertaking a comprehensive review of Aldoro’s remaining assets and determining ways to best unlock their value for the benefit of Aldoro shareholders. Further, the board will continue to seek opportunities that deliver shareholder value within the resource sector.

In closing, I would like to thank you for your continued support and confidence in Aldoro Resources. Our current asset portfolio, activity pipeline, balance sheet and attractive capital structure places significant potential for the Company to re-rate aggressively. On behalf of the board, I look forward to delivering Aldoro shareholders regular updates on upcoming exploration activities and working towards adding significant value over the forthcoming 12 months.

Yours faithfully, Aldoro Resources Limited

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Joshua Letcher Executive Chairman

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ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | +61 8 6559 1792 SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005 http://www.aldororesources.com contact@aldororesources.com