ARUMA RESOURCES LIMITED — Capital/Financing Update 2019

Apr 1, 2019

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

2 April 2019 ASX Announcement

SHARE PURCHASE PLAN CLOSED

ASX: AAJ

Capital Structure 595M Shares on Issue 12M Options on issue

ARUMA RAISES $692,400 TO ADVANCE EASTERN GOLDFIELDS GOLD

PROJECTS

Board of Directors

Eastern Goldfields explorer, Aruma Resources Limited ( ASX: AAJ ) ( Aruma or the Company ) advises that the Share Purchase Plan (SPP) announced 8 March 2019 has closed with valid applications received from eligible shareholders for 25,249,994 fully paid ordinary shares at 0.6 cents per share to raise $151,500.

Together with the recently completed placement, which raised $540,900 (including $105,000 commitment from Directors), and the SPP, the Company has raised a total of $692,400 to advance its portfolio of eastern goldfields gold projects.

The SPP was offered on the same terms as the placement announced on 22 February and completed 8 March 2019, and provided all eligible shareholders with the opportunity to participate in the SPP to raise up to $600,000.

Non-Executive Chairman Paul Boyatzis Managing Director Peter Schwann

Non-Executive Director Mark Elliott

Company Secretary Phillip MacLeod

Active Gold Projects

KOPAI PROJECT

The SPP shares will be issued on 4 April 2019.

SLATE DAM PROJECT

Funds raised will be used for targeted drilling at the Kopai Gold Project, situated along strike from Evolution Mining’s major White Foil gold mine, as well as continued exploration at Aruma’s other advanced gold projects, and costs of the offer and general working capital.

BEOWULF PROJECT

About Aruma

Aruma is a gold focused Perth-based exploration company with advanced greenfields projects in the Eastern Goldfields of Western Australia.

Aruma’s Kopai Gold, Slate Dam and Beowulf Projects contain significant underexplored exploration targets within a large (806 km[2] ) highly prospective land package.

The Kopai leases are directly along strike of Evolution Mining's White Foil gold mine and the drilling targets are defined by gold anomalies on structural and stratigraphic features.

Using the latest technology, Aruma has recently completed a major Airborne Electromagnetic (AEM) survey to define drilling targets for gold deposits on its Beowulf and Slate Dam projects, in both under-cover and newly discovered greenstone belts. The results of the AEM survey identifying multiple priority targets were announced on 27 March 2019

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

For further information please contact:

Peter Schwann - Managing Director

Aruma Resources Limited Telephone: +61 8 9321 0177 Mobile: +61 417 946 370 Email: info@arumaresources.com

Media and Investor Relations Mandate Corporate Mobile: +61 420 991 574 Email: james@mandatecorporate.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 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 [87 x 84] intentionally omitted <==

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