ARUMA RESOURCES LIMITED — Capital/Financing Update 2018

Jan 3, 2018

4 January 2018 ASX Announcement

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DRILLING RESUMES AT SLATE DAM

ASX: AAJ

Capital Structure 439M Shares on Issue 12M Options on issue

Board of Directors

Non-Executive Chairman Paul Boyatzis Managing Director Peter Schwann

Non-Executive Director Mark Elliott Company Secretary Phillip MacLeod Exploration Manager Kathryn Cutler

Active Projects

SLATE DAM GOLD PROJECT

BEOWULF GOLD PROJECT

Head Office

Level 1, 6 Thelma Street West Perth, WA 6005 T +61 8 9321 0177 F +61 8 9226 3764

E info@arumaresources.com W www.arumaresources.com

KALGOORLIE, WESTERN AUSTRALIA

Aruma Resources Limited (ASX: AAJ) (“Aruma” or the “Company”) is pleased to report that the major drilling program has restarted at Slate Dam for 2018, after a total 974m were completed in December. Results are expected in January through to February.

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Aruma mobilised contractors to commence a ~5,000m RC drill program in mid-December 2017. The priority target for the Company is the advanced Slate Dam Gold Project, situated only 40km east of Kalgoorlie, (Figure 1).

Figure 1. Aruma’s projects with drill areas of Slate Dam and Beowulf projects.

Postal Address

Locked Bag 2000, Nedlands, WA 6909

ABN 77 141 335 364

With proven evidence of gold mineralisation, consisting of a 7km[2] >200ppb bottom of hole geochemical gold anomaly with significant intersections. Slate Dam is a project capable of uncovering several mineralisation trends.

A total of 974m in 11 RC holes were drilled before the break for Christmas-New Year with the holes drilled to a nominal 100m depth (see Figure 2).

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Figure 2. Drilling at Slate Dam, December 2017.

Aruma Resources Limited (ASX: AAJ) | www.arumaresources.com | ABN 77 141 335 364

SLATE DAM GOLD PROJECT – DRILL PROGRAM

The initial Project evaluation using historical data defined a bottom-of-hole geochemical gold anomaly of considerable size over a small part of the Slate Dam Prospect, covering some 10% ( ~4km of the ~40km) of the prospective trends in the shale rich sequences (Figure 3). All the geological requirements for a gold system are in place but these are masked due to the presence of Lake Yindarlgooda covering the anomaly (Figure 4).

The substantial gold anomaly was delineated but inadequately drill tested. This maiden drill program for Aruma is testing the high tenor (>200ppb Au) anomaly, which includes testing the basement which has previous drilling defined gold intercepts that were not followed up.

The prospective shales are shown in Figure 4 which has many similarities to the Invincible Deposit at Kambalda. This deposit hosts 2Moz of gold at over 4 g/t grade.

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Figure 3. The Slate Dam Gold Project area, showing geological interpretation,

geochemical gold anomaly and mines on the trends (red dashed line).

Aruma Resources Limited (ASX: AAJ) | www.arumaresources.com | ABN 77 141 335 364 3

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Figure 4. Schematic section of the geological model, and proposed drill target stratigraphy in shales

Diamond drill core from the previous exploration programs has been located and will be examined in the coming weeks. The presence of multiple zones is expected to be demonstrated in both the now located historic drill core and the assays from the current drilling. The samples produced by Aruma to date have been submitted for assay and will be announced in coming weeks as the drilling continues.

For further information please contact: Peter Schwann Managing Director

Michael Cairnduff Media contact

Aruma Resources Limited Cannings Purple Telephone: +61 8 9321 0177 Mobile: 0406 775 241 Mobile: +61 417 946 370 Email: Email: info@arumaresources.com mcairnduff@canningspurple.com.au

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 AIG and 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. All exploration results reported have previously been released to ASX and are available to be viewed on the Company website www.arumaresurces.com.au . The Company confirms it is not aware of any new information that materially affects the information included in the original announcement. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcements.

Aruma Resources Limited (ASX: AAJ) | www.arumaresources.com | ABN 77 141 335 364 4

Forward Looking Statement

Certain statements contained in this document constitute forward looking statements. Such forward-looking statements are based on a number of estimates and assumptions made by the Company and its consultants in light of experience, current conditions and expectations of future developments which the Company believes are appropriate in the current circumstances. These estimates and assumptions while considered reasonable by the Company are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, achievements and performance of the Company to be materially different from the future results and achievements expressed or implied by such forward-looking statements. Forward looking statements include, but are not limited to, statements preceded by words such as “planned”, “expected”, “projected”, “estimated”, “may”, “scheduled”, “intends”, “anticipates”, “believes”, “potential”, “could”, “nominal”, “conceptual” and similar expressions. There can be no assurance that Aruma plans to develop exploration projects that will proceed with the current expectations. There can be no assurance that Aruma will be able to conform the presence of Mineral Resources or Ore Reserves, that any mineralisation will prove to be economic and will be successfully developed on any of Aruma’s mineral properties. Investors are cautioned that forward looking information is no guarantee of future performance and accordingly, investors are cautioned not to place undue reliance on these forward-looking statements.

Aruma Resources Limited is a proud supporter and member of the Association of Mining and Exploration Companies, 2018.

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Aruma Resources Limited (ASX: AAJ) | www.arumaresources.com | ABN 77 141 335 364 5