ARIKA RESOURCES LIMITED — Capital/Financing Update 2015

Feb 4, 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 5 February 2015

Excellent Metallurgical Recoveries >96% Zinc at Admiral Bay

• Metallurgical testwork review complete, no fatal flaws identified

• Coarse grained high quality zinc and lead concentrates with recoveries in excess of 96% in to concentrates reported

• Recoveries in excess of 96% for Zinc; with concentrate grades 55%

• Recoveries in excess of 98% for Lead; with concentrates grades 70%

• Low levels of the deleterious elements iron, manganese, arsenic, mercury that may otherwise pose penalties on off‐take and concentrate sales

• Off‐take on Admiral Bay is currently uncommitted, however the company has received significant enquires from potential Zinc off‐take partners

PLD Corporation Limited ( ASX:PLD ) (“ PLD ” or “ the Company ”) is pleased to announce that high metallurgical recoveries, low deleterious elements and no fatal flaws have been identified from a metallurgical testwork review completed as apart of the due diligence on the Admiral Bay Zinc Project, located in the Canning Basin, WA.

Metallurgical testwork was undertaken by the CRA Advanced Technical Development Facility in 1998 and Optimet Laboratories in 2008 and 2009. For the Optimet testwork, a total of four composite samples (Table 1) of Pb‐Zn‐Ba‐Ag from 2008 and 2009 drill core were the subject of testwork which included flotation testing with the aim of developing a flowsheet and determining the recovery of separate lead, zinc and barium containing concentrates respectively.

The recoveries (>96%) and zinc concentrate grade (>55%) at Admiral Bay are considered high and are comparable to other Tier 1 zinc deposits in operation around the world, such as MMG Limited’s Century Zinc Project located in Queensland, Australia, and Vedanta Zinc International’s Lisheen Zinc Project, located in Tipperary, Ireland (Table 2).

Importantly, low levels of the deleterious elements iron, manganese and arsenic in the zinc concentrate, which may otherwise carry penalties, are comparable to or lower than other Tier 1 zinc deposits (Table 3), while low levels of the deleterious elements arsenic, mercury, bismuth and antimony in the lead concentrate, which may otherwise carry penalties, are also are comparable to or lower than other Tier 1 zinc deposits (Table 4).

Commenting on progress at the Admiral Bay Zinc Project Managing Director Matt Gauci said:

“While the off‐take on Admiral Bay concentrate is currently uncommitted, it is very encouraging to have already received significant enquiries from potential zinc off‐take partners. Furthermore, we have also been engaging in positive discussions with a wide range of investors and potential partners to develop the Admiral Bay Zinc Project”

The Company will keep the market informed of any material changes.

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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

Table 1. Composite Samples

Composite	Pb%	Zn%	Fe%	Ba%	Total S %
AB1	1.9	7.33	3.0	10.1	7.68
AB2	6.53	3.40	2.61	23.9	10.49
AB3	4.80	1.22	2.37	17.8	6.86
AB4	7.83	0.11	1.78	30.3	10.64

Table 2. Recoveries and Concentrate Grade

Composite	Admiral Bay Recovery	Admiral Bay Concentrate Grade	Century Concentrate Grade	Lisheen Concentrate Grade
Zinc	96%	55%	57.%	57%
Lead	98%	70%
Silver	96%	18g/t

Table 3. Potential major deleterious element comparisons in Zinc concentrate

Composite	Admiral Bay	Century	Lisheen	Penalty
Fe	2.7%	1.5%	3.0%	$1.5/1% > 8%
Mn	0.09%	0.015%	0.03%	$1.5/0.1%>0.5%
As	0.007%	‐	0.13%	$2/1% > 0.2%

Table 4. Potential major deleterious element penalties Lead concentrate

Composite	Admiral Bay 1	Admiral Bay 4	Penalty
As	0.05%	0.01%	$3/0.1% > 0.5%
Hg	1.8ppm	0.70ppm	$1/10ppm > 30ppm
Sb	0.006%	0.001%	$3/0.1% > 0.1%
Bi	<0.002%	<0.002%	$2/0.01% > 0.003%
FOR MORE INFORMATION: Matt Gauci Managing Director T:+61 417 417 907		David Tasker Professional Public Relations T:+61 8 9388 0944

Information in this ASX Announcement was reviewed by Strategic Metallurgy Pty Ltd. Strategic Metallurgy has extensive hands‐on experience with a strong technical background in metallurgical testwork and reviews. Strategic Metallurgy have provided a comprehensive strategic review of the metallurgical testwork programs at Admiral Bay and consent to the information contained in this ASX Announcement.