ARDIDEN LTD — Capital/Financing Update 2017

Jun 4, 2017

ASX ANNOUNCEMENT

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5 June 2017

ARDIDEN FULLY-FUNDED TO COMPLETE MAIDEN LITHIUM RESOURCE AT SEYMOUR LAKE FOLLOWING SUCCESSFUL CAPITAL RAISING

Ardiden raises $600,000 following strong support from existing Ardiden shareholders with SPP to raise additional funds to advance Canadian resource projects

HIGHLIGHTS:

• $600,000 raised via share placement to existing major shareholders.

• Ardiden also plans to launch a Share Purchase Plan to raise additional funds.

• Funds to be used to accelerate the current resource drilling program at the North Aubry prospect, part of its Seymour Lake Lithium Project in Canada.

• Funds will assist Ardiden to continue the assessment of the newly-optioned Wisa Lake Lithium Project and Bold Properties Cobalt-Copper- Nickel Project in Ontario, Canada.

• The proceeds will also be utilised to progress exploration activities at Ardiden’s 100%-owned Manitouwadge Jumbo Flake Graphite Project and to provide general working capital.

Diversified minerals explorer and developer, Ardiden Limited (ASX: ADV) is pleased to announce that it has raised A$600,000 through a share placement to key sophisticated investors in Australia (the “Placement”), with strong support received from existing major shareholders.

The Company was pleased with the level of demand for the Placement from both existing and new investors, including Ardiden Board members, who subject to receiving shareholder approval, have participated in the Placement.

With the completion of the Placement, Ardiden is now fully-funded to continue to rapidly progress the maiden JORC 2012 Mineral Resource drilling program at its majority-owned Seymour Lake Lithium Project in Canada.

Ardiden is also pleased to announce that it will offer existing shareholders the opportunity to participate in a Share Purchase Plan (“ SPP ”) to raise additional funds for the continued advancement of the Company’s projects.

The SPP will provide the opportunity for Ardiden shareholders to subscribe for new shares in the Company at the same price as the Placement.

The funds will enable Ardiden to fast-track the due diligence assessments of the newly-optioned Wisa Lake Lithium Project and Bold Properties Cobalt-Copper-Nickel Project, both located in Ontario, Canada.

	Ardiden Limited
Suite 6, 295 Rokeby RoadSubiaco WA 6008	Tel: +61 (0) 8 6555 2950Fax: +61 (0) 8 9382 1222www.ardiden.com.au	ASX Code: ADVShares on Issue: 819.0M

The proceeds of the Placement will also be used to progress ongoing exploration activities at the Company’s Manitouwadge Jumbo Flake Graphite Project, also located in Ontario, Canada and to provide general working capital.

A total of A$600,000 was raised through the Placement, comprising 40 million shares at an issue price of A$0.015 per share. The issue price represents an 11.8% discount to the last traded price of Ardiden’s shares prior to the Placement commencing. Details of the SPP will provided in a subsequent announcement.

With the continued strong drill results being delivered from the Seymour Lake Lithium Project, Ardiden is looking forward to completing the Phase 2 drilling program and establishing a maiden JORC 2012 Mineral Resource, and is hopeful of achieving continued exploration success at the Company’s other projects.

The Company looks forward to providing further exploration updates as they come to hand.

THIS ANNOUNCEMENT EFFECTIVELY CEASES THE VOLUNTARY SUSPENSION REQUESTED BY THE COMPANY ON 31 MAY 2017. THE COMPANY IS NOT AWARE OF ANY REASON WHY THE ASX WOULD NOT ALLOW TRADING IN ITS SECURITIES TO RECOMMENCE IMMEDIATELY.

ENDS

For further information:

Investors : Media : Brad Boyle Nicholas Read Ardiden Ltd Read Corporate Tel: +61 (0) 8 6555 2950 Mobile: 0419 929 046

About Ardiden Ltd

Ardiden Limited (ASX: ADV) is an emerging international strategic metals company which is focused on the exploration, evaluation and development of multiple projects located in the established mining jurisdiction of Ontario, Canada.

The Seymour Lake Lithium Project comprises 7,019 Ha of mining claims and has over 4,000m of historic drilling. Mineralisation is hosted in extensive outcropping spodumene-bearing pegmatite structures with widths up to 26.13m and grades of up to 6.0% Li2O. These high-grade pegmatite structures have been defined over a 5km strike length.

The 100%-owned Root Lake Lithium Project is located in Ontario, Canada. The project comprises 1,013 Ha of mining claims and has over 10,000m of historic drilling. Mineralisation is hosted in extensive outcropping spodumene-bearing pegmatite structures with widths up to 19m and grades of up to 5.10% Li2O. In addition, tantalum grades of up to 380 ppm were intersected.

The 100%-owned Root Bay lithium project is strategically located approximately 5km to the east of the recently acquired Root Lake Lithium Project and consists of three claim areas, totalling 720 hectares. The project was staked by Ardiden as part of its regional exploration focus in and around the Root Bay spodumene-bearing pegmatite.

Initial observations of the exposed pegmatite are characterized by coarse white albite, grey quartz and pale grey-green spodumene crystals up to 10cm long.

The 100%-owned Manitouwadge Flake Graphite Project covers an area 5,300 Ha and has a 20km strike length of EM anomalies with graphite prospectivity. Previous preliminary metallurgical testwork indicated that up to 80% of the graphite at Manitouwadge is high value jumbo or large flake graphite. Testwork also indicated that simple, gravity and flotation beneficiation can produce graphite purity levels of up to 96.8% for jumbo flake and 96.8% for large flake. With the proven caustic bake process, ultra-high purity (>99.95%) graphite can be produced. The graphite can also be processed into high value expandable graphite, high quality graphene and graphene oxide.

The Wisa Lake Lithium project (under option to acquire 100%) is located 80km east of Fort Frances, in Ontario, Canada and only 8km north of the Minnesota/US border. The property is connected to Highway 11 (Trans-Canada), which is located 65km north via an all-weather road that crosses the centre of the project. The Wisa Lake Lithium Project consists of five claims (1,200 hectares) and covers the historical drilling location of the North Zone. Ardiden is aiming to commence a limited drill program to drill test and verify the historical lithium results.

The Bold Properties project (under option to acquire 100%) is located approximately 50km north-east of the town of Mine Centre in Ontario, Canada. The property is connected to Highway 11 (Trans-Canada), which is located 25km south via an all-weather road. The Bold Property Project consists of four claims (1,024 hectares) and covers a number of anomalous sulphide zones. In 1992, Hexagon Gold (Ontario) Ltd. completed a total of 17 drill holes in multiple locations on and around the Bold Property Project at various depths of up to 428m down-hole. The nine grab samples that were collected by Hexagon in 1992 returned encouraging grades of up to 0.33% cobalt, 5.54% copper and 0.73% nickel, confirming the significant exploration potential.

All projects located in an established mining province, with good access to infrastructure (road, rail, power, phone and port facilitates) and local contractors and suppliers.

Forward Looking Statement

This announcement may contain some references to forecasts, estimates, assumptions and other forward-looking statements. Although the company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions, it can give no assurance that they will be achieved. They may be affected by a variety of variables and changes in underlying assumptions that are subject to risk factors associated with the nature of the business, which could cause actual results to differ materially from those expressed herein. All references to dollars ($) and cents in this presentation are to Australian currency, unless otherwise stated. Investors should make and rely upon their own enquires and assessments before deciding to acquire or deal in the Company’s securities.