ARIKA RESOURCES LIMITED — Capital/Financing Update 2015

May 20, 2015

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Suite
6,
245
Churchill
Avenue
Subiaco
WA
6008 PO
Box
1273
Subiaco
WA
6904 Phone:
+61
8
9217
3300
|
Fax:
+61
8
9388
3006

ASX
Code:
PLD 21[st] May
2015

**Admiral

Bay
Zinc
Project
Acquisition
Update**

PLD
Corporation
Limited
( ASX:PLD )
(“ PLD ”
or
“ the
Company ”)
is
pleased
to
report
an
update
on the
acquisition
and
financing
of
the
Admiral
Bay
Zinc
Project
and
Rocky
Gully
Nickel-­‐Copper projects
(Refer
to
ASX
Announcement
10[th] March
2014).

**Financing

Agreements**

The
Company
is
in
the
process
of
completing
financing
agreements
with
regards
to
Net Smelter
Royalty
Sale
Agreements
and
expects
to
have
these
completed
shortly.
These Agreements
follow
successful
due
diligence
and
a
Share
Subscription
Agreement
for
the placement
of
~68m
shares
at
1.0c
per
share,
for
~A$0.68m
with
Resource
Capital
Funds (“RCF”
or
the
“Funds”)
Fund
VI
L.P.
as
a
cornerstone
investor.

**Regulatory

Approvals
(ASX
Waiver)**

The
Company
recently
lodged
a
request
for
a
Listing
Rule
waiver
with
respect
to
the proposed
acquisition
of
the
Admiral
Bay
Zinc
Project
and
the
Rocky
Gully
Nickel
Copper Project
as
part
of
its
re-­‐compliance
with
Chapters
1
and
2
of
the
Listing
Rules.

The
request
for
a
waiver
relates
to
listing
rule
1.1
condition
11
and
a
confirmation
in
respect of
listing
rule
1.1
condition
3.

Listing
rule
1.1
condition
11
requires
the
issue
price
or
sale
price
of
all
of
the
securities
for which
an
entity
is
seeking
quotation
upon
admission
to
the
official
list
to
be
at
least
20
cents in
cash.
The
ASX
has
granted
a
waiver
of
this
condition
to
permit
the
exercise
price
of options
to
be
issued
to
be
less
than
$0.20,
on
the
following
conditions:

• the
  exercise
  price
  of
  the
  options
  to
  be
  issued
  is
  not
  less
  than
  $0.02;
  and

• shareholders
  approve
  the
  exercise
  price
  of
  the
  options
  to
  be
  issued
  at
  the Company’s
  general
  meeting.

Further
details
of
the
waiver
of
listing
rule
1.1
condition
11
will
be
set
out
in
the
notice
of meeting
for
the
Company’s
general
meeting.

Listing
rule
1.1
condition
3
requires
an
entity
to
issue
and
lodge
a
prospectus,
product disclosure
statement
or,
if
ASX
agrees,
and
information
memorandum
that
complies
with the
information
requirements
of
listing
rule
1.4.

The
ASX
confirms
that
an
Information
Memorandum
that
complies
with
listing
rule
1.4
is sufficient
for
the
purposes
of
listing
rule
1.1
condition
3
on
the
condition
that
the information
memorandum
is
not
issued
on
or
prior
to
10
June
2015.

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Suite
6,
245
Churchill
Avenue
Subiaco
WA
6008 PO
Box
1273
Subiaco
WA
6904 Phone:
+61
8
9217
3300
|
Fax:
+61
8
9388
3006

**Shareholder

Approvals
(Notice
of
Meeting)**

The
Company
also
recently
lodged
the
Notice
of
Meeting
with
the
ASX
and
ASIC
and
has received
a
no
objection
from
the
ASX
with
respect
to
the
notice.
The
notice
of
no
objection relates
to
compliance
with
listing
rules
only.

The
Company
has
also
received
confirmation that
ASIC
does
not
presently
intend
to
comment
on
the
notice

The
Company
will
soon
organise
printing
of
the
Notice
of
Meeting
for
shareholder consideration
which
is
expected
to
be
dispatched
the
week
commencing
Monday
25[th] May 2015.
An
updated
timetable
to
completion
of
the
transaction
is
detailed
below.

**Table

1. Indicative
   Timetable**

Action	Target Days
Notice of MeetingDispatch	25 May2015
Independent Experts Report	+30 days
Information Memorandum Lodged with ASX	+30 days
General Meetingof Shareholders	+35 days
Approval of Acquisition	+35 days
Suspension from OfficialQuotation	+35 days
Completion of Acquisition	+44 days
Satisfaction of Requirements of Chapter 1 & 2	+44 days
Re-instatement to tradingon the ASX	+49 days

**For

More
Information:**

Matt
Gauci Managing
Director T:
+61
8
9217
3300

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

**PLD

Corporation
Limited**

PLD
Corporation
Limited
is
an
emerging
base
metal
company
with
a
focus
on
the
development
of the
Admiral
Bay
Zinc
Project
and
Exploration
of
the
Rocky
Gully
Nickel
Copper
Project.
The Admiral
Bay
Zinc
Project
is
one
of
the
world’s
largest
undeveloped
zinc
projects,
hosting
an Inferred
Mineral
Resource
Estimate
(“MRE”)
of
72Mt
at
6.7%
ZnEq[1] and
an
Exploration
Target Range
(“ETR”)
of
170-­‐250Mt
at
5.3%-­‐7.5%
ZnEq[2] ,
located
in
the
Canning
Basin,
Western Australia.
The
Rocky
Gully
Nickel
Copper
Project
is
one
of
the
largest
landholdings
in
the emerging
Albany
Fraser
Belt,
where
the
company
has
identified
more
than
20
EM
Conductors that
are
considered
prospective
for
Nova-­‐type
Nickel
Copper
Deposits.

1 PLD
confirms
that
there
is
no
new
information
or
data
that
materially
affects
the
previous
market
announcements
about
the Admiral
Bay
MRE
or
ETR,
and
that
for
the
MRE
all
material
assumptions
and
technical
parameters
underpinning
the
estimates in
the
relevant
market
announcements
continue
to
apply
and
have
not
materially
changed.

2 Note
that
the
potential
quantities
and
grades
are
conceptual
in
nature,
that
there
has
been
insufficient
exploration
to estimate
Mineral
Resources
and
it
is
uncertain
whether
further
exploration
will
result
in
the
estimation
of
Mineral
Resources.

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==> picture [113 x 26] intentionally omitted <==

Suite
6,
245
Churchill
Avenue
Subiaco
WA
6008 PO
Box
1273
Subiaco
WA
6904 Phone:
+61
8
9217
3300
|
Fax:
+61
8
9388
3006

**Resource

Capital
Funds**

Resource
Capital
Funds
("RCF"
or
the
"Funds")
are
private
equity
funds
with
mandates
to
make investments
exclusively
in
the
mining
sector
across
a
diversified
range
of
mineral
commodities and
geographic
regions.
The
Funds
are
managed
by
RCF
Management
L.L.C.
which
has
its principal
office
in
Denver
and
additional
offices
in
Perth,
New
York
(Long
Island)
and Toronto.
RCF
pioneered
the
concept
of
mining-­‐focused
private
equity
funds
and
strives
to produce
superior
returns
to
its
investors,
portfolio
companies
and
fellow
equity
investors.
Since inception,
RCF
has
supported
132
mining
companies
(and
several
mining-­‐services
companies) involving projects located in 44 countries and relating to 29 commodities.

RCF
is
currently
investing
its
sixth
fund,
Resource
Capital
Fund
VI
L.P.,
with
committed
capital
of $2.04
billion
and
currently
manages
three
other
active
private
equity
funds,
Resource
Capital Fund
V
L.P.,
Resource
Capital
Fund
IV
L.P.
and
Resource
Capital
Fund
III
L.P.
The
Funds' committed
capital
is
sourced
primarily
from
US-­‐based
institutional
investors.
Further information about Resource Capital Funds can be found on its website www.resourcecapitalfunds.com

RCF
has
experience
in
building
management
teams
specifically
suited
to
develop
and
or
operate assets
and
has
the
resources
and
networks
to
draw
upon
to
source
top
talent
from
around
the world.
In
addition
to
providing
financing,
RCF
has
the
in-­‐house
technical
and
financial
expertise to
actively
guide
a
mining
company's
management
team
through
the
process
of
raising
capital
in the
public
equity
and
project
financing
markets.
RCF's
management
team
consists
of
individuals with
extensive
commercial
and
technical
experience
in
the
mining
industry.