ARUMA RESOURCES LIMITED — Capital/Financing Update 2014

Dec 15, 2014

ABN 77 141 335 364 ASX: AAJ

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Aruma Resources Limited

ASX ANNOUNCEMENT 16 December 2014

DRILLING CONFIRMS COPPER MINERALISATION

 Bulloo Copper Project

• Drilling confirms copper mineralisation at five locations

• 33-hole, 2,708m RC drilling program completed

• Holes drilled to 144m depth

• Seven high tenor copper gossan targets drilled with visible copper

• (chrysocolla) in five locations

• HyMap coverage of all areas of interest

• New emissivity system delineates further copper targets

Bulloo Copper Project Drilling

Gold and copper explorer Aruma Resources Limited (“Aruma”) (ASX: AAJ) is pleased to advise the 2,708m RC drilling program at its Bulloo Downs Copper Project (Bulloo) in Western Australia was completed in early December. The RC drilling was the culmination of the mapping and sampling programs on multiple copper gossans conducted this year.

Location	AMG94 Easting	AMG94 Northing	Drill Holes	m	Visible Cu	Cu Hand-held XRF*	Depth range (m)
Madison East	751900mE	7349000mN	7	528	yes	0.8%	60-96
Madison Pits	750600mE	7348800mN	5	3318	yes	7.2%	54-78
Gossan West	749550mE	7348450mN	3	168	no	<0.1%	48-60
Lachlan	752600mE	7345100mN	3	312	yes	1.3%	96-114
Chandra	754800mE	7344000mN	3	318	no	<0.1%	90-138
Terry’s	754800mE	7346200mN	1	100	no	<0.1%	40-150
Scotties	770700mE	7338300mN	5	454	yes	1.5%	50-144
Koode Maji	762300mE	7324800mN	4	370	yes	1.2%	60-110
Ned’s Gap	759600mE	7317800mN	2	140	no	<0.1	60-80

Table 1 RC drilling summary at the Bulloo Copper Project

*** This value the best 1m assay from the hole. These are from the hand-held XRF. The assay values will be released when received.**

Aruma Resources Limited

ABN 77 141 335 364 ASX: AAJ Suite 33, 18 Stirling Highway, Nedlands WA 6009 Locked Bag 2000, Nedlands WA 6909, Australia T +61 8 6389 1799 I F +61 8 6389 0112 I W www.arumaresources.com

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ASX ANNOUNCEMENT 16 December 2014

DRILLING CONFIRMS COPPER MINERALISATION

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Aruma Managing Director, Peter Schwann, said: “This is a terrific result for the first pass of drilling into what is proving to be an extensive region of copper mineralisation.”

From the above Table 1, it can be seen that the results confirm mineralisation at depth for a majority of the target zones. The drilling in March 2014 at Madison West demonstrated that the copper mineralisation persisted at depth in BMRC13 (4m at 2.2% Cu from 51m).

After collating all the data and completing mapping and surface sampling over most of the 2,900km[2] of leases, Aruma drilled the nine defined Tier 1 targets in Table 1 and encountered copper mineralisation in five.

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Figure 1 Bulloo Copper Project with drill intersections of copper

Aruma Resources Limited ABN 77 141 335 364 ASX: AAJ Suite 33, 18 Stirling Highway, Nedlands WA 6009 Locked Bag 2000, Nedlands WA 6909, Australia T +61 8 6389 1799 I F +61 8 6389 0112 I W www.arumaresources.com

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ASX ANNOUNCEMENT 16 December 2014

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DRILLING CONFIRMS COPPER MINERALISATION

Hole	GDA94 Easting	GDA94 Northing	RL AHD	Depth m	Azimuth˚	Dip˚
BMRC14	751870	7348955	560	60	135	-60
BMRC15	751864	7348966	560	96	150	-60
BMRC16	751886	7348974	561	90	150	-60
BMRC17	751926	7348988	559	72	145	-60
BMRC18	751944	7349002	559	72	160	-60
BMRC19	751962	7349008	553	78	160	-60
BMRC20	751914	7348941	550	60	330	-60
BMRC21	750635	7348785	554	60	170	-60
BMRC22	750618	7348784	556	60	180	-60
BMRC23	750666	7348798	554	66	185	-60
BMRC24	750700	7348811	557	54	180	-60
BMRC25	750592	7348796	552	78	180	-60
BMRC26	749561	7348442	564	48	165	-60
BMRC27	749556	7348464	564	60	165	-60
BMRC28	749553	7348485	565	60	165	-60
BLRC02	752605	7345136	567	114	180	-60
BLRC03	752575	7345113	562	96	165	-60
BLRC04	752535	7345086	566	102	150	-60
BCRC01	754948	7344064	567	90	160	-60
BCRC02	754941	7344084	568	138	165	-60
BTRC01	755952	7347532	553	100	165	-60
BCRC03	754872	7343979	563	90	35	-60
BSRC01	770716	7338349	603	100	170	-60
BSRC02	770741	7338351	603	100	170	-60
BSRC03	770766	7338358	599	60	180	-60
BSRC04	770768	7338400	601	144	185	-60
BSRC05	770761	7338302	598	50	355	-60
KMRC01	762322	7324813	616	100	310	-60
KMRC02	762331	7324855	616	60	310	-60
KMRC03	762342	7324844	617	100	310	-60
KMRC04	762361	7324830	616	110	310	-60
NGRC01	759637	7317390	647	60	310	-60
NGRC02	759649	7317727	634	80	310	-60

Table 2 Full RC drilling details at the Bulloo Downs Copper Project

Aruma considers the Bulloo area, which contains many mapped and sampled copper outcrops to be prospective for copper discoveries with gold, silver, lead and zinc credits.

Aruma Resources Limited

ABN 77 141 335 364 ASX: AAJ Suite 33, 18 Stirling Highway, Nedlands WA 6009 Locked Bag 2000, Nedlands WA 6909, Australia T +61 8 6389 1799 I F +61 8 6389 0112 I W www.arumaresources.com

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ASX ANNOUNCEMENT 16 December 2014

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DRILLING CONFIRMS COPPER MINERALISATION

The Company is now a major landholder in the area and has secured access to multiple mineralised structures. The previous hand-held XRF assays from the mapped structures have identified mineralisation with width and strike length potentially capable of hosting copper (with lead, zinc, silver and gold credits).

With the new HyMap program just completed over all the lease areas, Aruma will extend the strike extent of the mapped structures and use these to define and confirm further mineralisation targets. The lease E52/2887 over Hard to Find prospect has been granted recently and this will also be appraised in the next program.

Following the receipt of lab assays the prospects will be re-appraised and prioritised for the next drill program to be undertaken next year.

Aster Anomaly Testing

A new technique is being tested at Bulloo to identify potential copper anomalies using Aster Data. The technique is in a developmental stage and has located several new anomalies that were not previously identified.

The initial targets identified by Dr Mike Hussey from the HyMap data and the Aster anomalies were field inspected in December 2014. The results indicate that the model of Aster anomalies associated with fractures with HyMap anomalies of kaolinite-dickite, and hematite-goethite is confirmed with known structures at Madison, Lachlan, Chandra and Neds Gap.

Additional reconnaissance work in December targeted a small number of new targets outside the known anomalous areas. This work confirmed the original observations with two new anomalous zones identified at Madison, one at Neds Gap, and a continuation of mineralisation at Scotties some 1.2km to the west. The results are described in Table 3 below.

Additional field work is now planned to follow up the high priority target areas where fracture density and mineral mapping anomalism is associated with Aster anomalies.

Aruma Resources Limited ABN 77 141 335 364 ASX: AAJ Suite 33, 18 Stirling Highway, Nedlands WA 6009 Locked Bag 2000, Nedlands WA 6909, Australia T +61 8 6389 1799 I F +61 8 6389 0112 I W www.arumaresources.com

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ASX ANNOUNCEMENT 16 December 2014

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DRILLING CONFIRMS COPPER MINERALISATION

Target	Type	Easting	Northing	Max Cu value hand-held XRF(ppm)	Comment
Area A -1 Madison area	Fracture with kaolin and dickite	752100	7349070	766	Known anomalous area at Madison. Mapping extended the Madison structure from the Husseyinterpretation
Area A-2 Madison area	Fracture with kaolin and dickite	751696	7349420	4979	Mapping identified new anomaly on E-W structure in Madison box. Structure referred to as Stark.
Area W	kaolinite- dickite	755097	7348269	796	In Madison box, new anomalous structure identified
Area F	Fracture -Aster	765506	7317567	N/A	False anomaly along Goldfields Gas Pipeline
Area G	Fracture -Aster	763727	7348614	255	False anomaly along Goldfields Gas Pipeline, however other structures still to be investigated. Result of 255 is on a dolerite dyke.
Area P	Fracture -Aster	760840	7329977	24	Several fractures still to be sampled.
Area I	Fracture -Aster	758361	7345172	Previously sampled up to 6410 (excluding old workings)	Chandra structure previously identified as anomalous
Area D	Fracture -Aster	760549	7317521	810	New target approx. 500 metres to the east and parallel to the Neds Gapstructure
Area X	Fracture- kaolinite	758526	7314636	N/A	No anomalies observed
Area U	Fracture- kaolinite	767315	7342256	292	NNE structure
Scotties West	Fracture -Aster	769450	7338270	1178	Continuation of Scotties structure to the west 1.2Km west of the Scotties Workings

Table 3 Aster anomaly sampling at the Bulloo Copper Project

Aruma Resources Limited ABN 77 141 335 364 ASX: AAJ Suite 33, 18 Stirling Highway, Nedlands WA 6009 Locked Bag 2000, Nedlands WA 6909, Australia T +61 8 6389 1799 I F +61 8 6389 0112 I W www.arumaresources.com

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ASX ANNOUNCEMENT 16 December 2014

DRILLING CONFIRMS COPPER MINERALISATION

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Clinker Hill

A 1,000m RC drill program was scheduled for late December or early next year for Clinker Hill. Due to the drilling at Bulloo this will now be done in the New Year. This will investigate the strong >50ppb gold in soil anomaly which coincides with several dry blowing areas. The anomaly is over 1,600m long.

For further information please contact: Peter Schwann Managing Director Aruma Resources Limited Tel: +61 8 6389 1799 Mobile: +61 417 946 370 info@arumaresources.com

Competent Person’s Statement

The information in this release that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Peter Schwann who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Schwann is Managing Director and a full time employee of the Company. Mr Schwann has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserve’. Mr Schwann consents to the inclusion in the release of the matters based on his information in the form and context in which it appears.

Aruma Resources Limited ABN 77 141 335 364 ASX: AAJ Suite 33, 18 Stirling Highway, Nedlands WA 6009 Locked Bag 2000, Nedlands WA 6909, Australia T +61 8 6389 1799 I F +61 8 6389 0112 I W www.arumaresources.com

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ASX ANNOUNCEMENT 16 December 2014

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DRILLING CONFIRMS COPPER MINERALISATION

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Sampling techniques	 Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.  Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.  Aspects of the determination of mineralisation that are Material to the Public Report.  In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	 1m samples were taken in 10” by 12” calico bags of 3 kg sampled by splitter
Drilling techniques	 Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, _whether core is oriented and if so, by what method, etc.). _	 Reverse Circulation  1m RC chips
Drill sample recovery	 Method of recording and assessing core and chip sample recoveries and results assessed.  Measures taken to maximise sample recovery and ensure representative nature of the samples.  Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due topreferential loss/gain of fine/coarse material.	 Good recovery with minimal loss  Samples mostly dry, with minor water encountered
Logging	 Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.  Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.  The total length andpercentage of the relevant intersections logged.	 Fully geologically logged  Logging qualitative  All samples logged
Sub-sampling techniques and sample preparation	 If core, whether cut or sawn and whether quarter, half or all core taken.  If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.  For all sample types, the nature, quality and appropriateness of the sample preparation technique.  Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	 Samples split by splitter on rig  Samples scanned with XRF gun

Aruma Resources Limited

ABN 77 141 335 364 ASX: AAJ Suite 33, 18 Stirling Highway, Nedlands WA 6009 Locked Bag 2000, Nedlands WA 6909, Australia T +61 8 6389 1799 I F +61 8 6389 0112 I W www.arumaresources.com

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ASX ANNOUNCEMENT 16 December 2014

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DRILLING CONFIRMS COPPER MINERALISATION

Criteria	JORC Code explanation	Commentary
	 Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.  Whether sample sizes are appropriate to thegrain size of the material being sampled.
Quality of assay data and laboratory tests	 The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.  For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.  Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie. lack of bias) andprecision have been established.	 Assays at Intertek using a Four acid digest method (4AH/OE)  Olympus Handheld XRF used
Verification of sampling and assaying	 The verification of significant intersections by either independent or alternative company personnel.  The use of twinned holes.  Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.  Discuss any adjustment to assay data.	 Assays to be done at Intertek using a Four acid digest method (4AH/OE)
Location of data points	 Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.  Specification of the grid system used.  Quality and adequacy of topographic control.	 Sample location by GPS.  All locations are GDA94
Data spacing and distribution	 Data spacing for reporting of Exploration Results.  Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.  Whether sample compositing has been applied.	 Drill collars fully reported
Orientation of data in relation to geological structure	 Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.  If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	 Down hole surveys are regular intervals to check orientation and dip
Sample	 _The measures taken to ensure sample security. _	 Samples digitallyandphysicallyrecorded.

Aruma Resources Limited

ABN 77 141 335 364 ASX: AAJ Suite 33, 18 Stirling Highway, Nedlands WA 6009 Locked Bag 2000, Nedlands WA 6909, Australia T +61 8 6389 1799 I F +61 8 6389 0112 I W www.arumaresources.com

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ASX ANNOUNCEMENT 16 December 2014

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DRILLING CONFIRMS COPPER MINERALISATION

Criteria	JORC Code explanation	Commentary
security
Audits or reviews	 The results of any audits or reviews of sampling techniques and data.	 No audits or reviews were deemed necessary outside of internal standards as this is purely qualitative assaying for exploration.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria JORC Code explanation	Criteria JORC Code explanation	Commentary
Mineral tenement and land tenure status	 Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.  The security of the tenure held at the time of reporting along with any known impediments to obtaining a license to operate in the area.	 All tenements and issues required are detailed in the reports.  All work done under PoWs.
Exploration done by other parties	 Acknowledgment and appraisal of exploration by other parties.	 Previous work on the area acknowledged
Geology	 Deposit type, geological setting and style of mineralisation.	 Structurally controlled Hydrothermal Copper andgold
Drill hole Information	 A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length.  If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	 All in the report

Aruma Resources Limited

ABN 77 141 335 364 ASX: AAJ Suite 33, 18 Stirling Highway, Nedlands WA 6009 Locked Bag 2000, Nedlands WA 6909, Australia T +61 8 6389 1799 I F +61 8 6389 0112 I W www.arumaresources.com

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ASX ANNOUNCEMENT 16 December 2014

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DRILLING CONFIRMS COPPER MINERALISATION

Criteria JORC Code explanation	Criteria JORC Code explanation	Commentary
Data aggregation methods	 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.  Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.  The assumptions usedfor any reporting of metal equivalent values should be clearly stated.	 Intercepts will be averaged above 0.1% Cu when reported
Relationship between mineralisation widths and intercept lengths	 These relationships are particularly important in the reporting of Exploration Results.  If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.  If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	 down hole length, true width not known
Diagrams	 Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	 As done
Balanced reporting	 Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	 All samples on the leases are shown graphically and/ or have been previously reported
Other substantive exploration data	 Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	 HyVista data and figures and the relationship with the Aruma exploration and genesis model are detailed in many previous reports and presentations.
Further work	 The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large- scale step-out drilling).  Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations andfuture drilling areas, provided this information is not commercially sensitive.	 As detailed in the report.

Aruma Resources Limited

ABN 77 141 335 364 ASX: AAJ Suite 33, 18 Stirling Highway, Nedlands WA 6009 Locked Bag 2000, Nedlands WA 6909, Australia T +61 8 6389 1799 I F +61 8 6389 0112 I W www.arumaresources.com

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