ARUMA RESOURCES LIMITED — Capital/Financing Update 2019

Jul 18, 2019

==> picture [157 x 66] intentionally omitted <==

19 July 2019

ASX: AAJ

ASX Announcement

ARUMA DRILLING APPROVALS RECEIVED

Capital Structure 657M Shares on Issue 12M Options on issue

Highlights

• Two Programs of Work (PoW) for the Airborne EM target drilling at Slate Dam and Beowulf gold projects approved by Department of Mines, Industry Regulation and Safety (DMIRS)

• Program of 20 RC holes to 100m to commence this quarter

• Funded by the previously announced Drilling for Shares arrangement

Aruma Resources Limited ( ASX: AAJ ) ( Aruma or the Company ) is pleased to announce the commencement of the clearing for the RC drilling program at the Slate Dam and Beowulf gold projects (Figure 1) east of Kalgoorlie.

==> picture [319 x 418] intentionally omitted <==

Figure 1 Regional Geological plan of the Aruma leases with the AEM survey areas shown in red

Board of Directors

Non-Executive Chairman Paul Boyatzis

Managing Director Peter Schwann

Non-Executive Director

Mark Elliott

Company Secretary Phillip MacLeod

Active Gold Projects

SLATE DAM PROJECT

BEOWULF PROJECT

Active Lithium Projects

MT DEANS Li 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

Postal Address

PO Box 152 West Perth, WA 6872

ABN 77 141 335 364

Outcomes

The drilling will investigate strong anomalies from the major Airborne EM-magnetic survey by Terra Resources geophysical consultants (refer announcement 27 March 2019). The recent Aruma soil geochemistry and historic data compilations were also used in targeting the programs.

The PoW required a flora and fauna survey at Beowulf and the site clearances will be done under the guidelines from the DMIRS.

The site preparation is being undertaken by the respective pastoralists and should be completed by mid-August with the drilling starting when the drilling rig becomes available.

It is expected that the assay results should be available in late Q3 or the start of Q4 2019.

For further information please contact:

Peter Schwann - Managing Director Media and Investor Relations Aruma Resources Limited Mandate Corporate Telephone: +61 8 9321 0177 Mobile: +61 420 991 574 Mobile: +61 417 946 370 Email: james@mandatecorporate.com.au Email: 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 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 historic exploration results reported have been sourced from the Western Australian Mineral Exploration reports (WAMEX) on the DMIRS site and are available to be viewed on the WAMEX open file site of the DMIRS under the reference number supplied. The Company confirms it is not aware of any new information that materially affects the information included in the original reports.

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, 2019.

==> picture [70 x 68] intentionally omitted <==

Aruma Resources Limited (ASX: AAJ) | www.arumaresources.com | ABN 77 141 335 364 2