ARIKA RESOURCES LIMITED — Capital/Financing Update 2014

Aug 11, 2014

Level 9 575 Bourke Street Melbourne VIC 3000 Phone: +61 3 9606 3888 | Fax: +61 8 9606 3800

ASX Code: PLD 12 August 2014

Drilling and Geophysics to Commence at Rocky Gully

• Drilling set to commence for Nickel Copper Sulphides at High Priority M19 and M20

• Deep EM Survey to be undertaken to detect massive sulphide conductors at M19 and M20

• Magnetic Vector Inversions (MVI) being undertaken to assist drilling at M19 and M20

• Re-processing of EM data to detect regional massive sulphide conductors

• Results of drilling and EM anticipated during the September Quarter.

PLD Corporation Limited (ASX:PLD) (“PLD” or “the Company”) is pleased to advise that drilling and Geophysics is set to commence for Nickel Copper Sulphides at the Rocky Gully Project, which covers a total area of 1,200km2, and is located in the Albany Fraser Belt, WA.

Approvals have been received from the Department of Mines and Petroleum (DMP), contracts organised with the Drillers and Geophysicist, while land access agreement being finalised.

The high priority M19 and M20 targets have been defined by systematic exploration including geological mapping, geophysical and geochemical surveys and limited shallow drilling (as previously announced). Drilling is anticipated to commence in September for a campaign of up to 10 RC holes for approximately 1,000m of drilling.

The drilling at both M19 and M20 is targeting an ultramafic magnetic intrusive and associated high geochemical anomaly. The program will be aimed at verifying reported nickel copper sulphides, extend known mineralisation along strike and at depth, to better understand the geochemistry and stratigraphy and ultimately detect potential for massive sulphides.

Figure 1. M19 Nickel Copper Target and Drilling Plan Figure 2. M20 Nickel Copper Target and Drilling Plan

==> picture [394 x 165] intentionally omitted <==

----- Start of picture text ----- EMEMPlanned drill hole Planned drill hole----- End of picture text -----

Results from the drilling will be evaluated using Niton Field XRF on site and assayed for multielement suite of minerals including Nickel, Copper, PG, with full results expected in September.

Level 9 575 Bourke Street Melbourne VIC 3000 Phone: +61 3 9606 3888 | Fax: +61 8 9606 3800

The Company will also undertake a Deep Penetrating EM survey employing a moving loop ground EM system which is used to detect massive sulphide conductors to depths greater than 300m. The Bollinger deposit (Sirius Resources) was invisible to conventional EM, and was subsequently detected using a similar deep penetrating EM system.

Figure 3. M20 Nickel Copper Target and Drilling Plan

Target Depth of Deep Penetrating EM Survey

Magnetic Vector Inversion and 3D modelling is currently being undertaken to better define the M19 and M20 Intrusives, to assist with drill targeting and the potential of employing downhole EM surveys once drilling is complete.

Additionally, a review of historical EM surveys undertaken by the WA Government employing the QUESTEM system, identified a number of areas of interest for potential massive sulphide conductors. This QUESTEM survey, covers only ~25% of the total area at Rocky Gully, and results of the re-processing and targeting for additional conductors is due shortly.

For More Information:

Matt Gauci Managing Director T: +61 417 417 907

David Tasker Professional Public Relations T: +61 8 9388 0944

Competent Persons Statement

The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the ‘JORC Code’) sets out minimum standards, recommendations and guidelines for Public Reporting in Australasia of Exploration Results, Mineral Resources and Ore Reserves. The Information contained in this announcement has been presented in accordance with the JORC Code and references to “Measured, Indicated and Inferred Resources” are to those terms as defined in the JORC Code. Information in this report relating to Exploration results is based on information compiled by Mr Mathew Longworth who is a Member of the Australasian Institute of Mining and Metallurgy and a Principal Consultant with Xstract Mining Consultants. Mr Longworth has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Longworth consents to the inclusion of the data in the form and context in which it appears.