ARUMA RESOURCES LIMITED — Capital/Financing Update 2020

Jun 15, 2020

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16 June 2020

ASX Announcement

ASX: AAJ

ARUMA'S NEW LEASES ADD TO GOLD PROJECT PORTFOLIO

Aruma Resources Ltd (AAJ) is pleased to announce that it has applied for four new exploration licences over underexplored gold prospective ground in Western Australia, and a new ELA in New South Wales adjacent to the recently secured Capital Gold Project (ASX announcement, 5 June 2020).

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Capital Structure 821M Shares on Issue 8M Options on issue

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

TROJAN RESOURCE

WA Gold Projects

MELROSE PROJECT

SALTWATER PROJECT

SOUTH SCOTIA

NSW Gold Projects

CAPITAL PROJECT

Figure 1: Aruma's Western Australian Gold Projects

The leases are:

• Scotia South - E63/2037 which covers an untested extension of the Wiluna - Norseman Greenstone belt,

• Saltwater - E52/3830 and E52/3837 which extends the Project in the Pilbara over the extensions and splays of the Nanjilgardy Fault,

• Melrose - E08/3219 covers gold prospects to the south, and

• Capital - ELA5987 which covers the old gold workings of Shinglehouse Creek and Bywong-Macs Reef in the Goulburn region of NSW.

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

The new leases complement Aruma’s strategy to pursue new, prospective gold project areas, which demonstrate the potential to deliver high-grade gold discoveries.

Postal Address

PO Box 152 West Perth, WA 6872

ABN 77 141 335 364

Project	Location	Lease	Applied for	Blocks	km2
Saltwater	WA	ELA52/3830	12/05/2020	18	56
Saltwater	WA	ELA52/3837	9/06/2020	10	31
Melrose	WA	ELA08/3219	4/06/2020	21	67
Scotia South	WA	ELA63/2037	9/06/2020	70	217
Capital	NSW	ELA5987	9/06/2020	56	168
			Total	175	539

Table 1: New Lease application details

NEW LEASE OVER UNEXPLORED GREENSTONE AT SCOTIA SOUTH

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Figure 2: Aruma's new lease E62/2037 at Scotia South showing the greenstones extending from Pantoro Limited’s Scotia at the top of the figure, south to ELA63/2037 (from Minedex).

The new Scotia South lease, E62/2037, covers the extension of geology similar to Pantoro Limited’s (ASX: PNR) Scotia Mining Centre, within the Norseman Gold Project, and also Eldridge’s Find, situated just to the north of E62/2037 (see Figure 2). Pantoro’s recent Panda discovery (PNR announcement 21 May 2020) demonstrated the stratigraphic continuation of the Scotia orebodies.

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

NEW LEASES AT SALTWATER

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Figure 3: Aruma's new leases E52/3830 and E52/3837 (yellow shaded) at the Saltwater Gold Project showing the total project area (red outline) on structures.

The new leases, E52/3830 and 3837 were applied for to cover the 16km "Monster Trend" delineated by previous explorers and the 10km extension of the Nanjilgardy Fault to the east.

NEW LEASE AT MELROSE

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Figure 4: Aruma's new lease (E08/3219) at the Melrose Gold Project (red outline)

The new Melrose lease covers an area on a possible extension of the Nanjilgardy Fault.

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

NEW BYWONG LEASE AT THE CAPITAL PROJECT IN NSW

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Figure 5: Aruma's new Capital lease ELA5987 in black highlighting old gold workings of the Shinglehouse Creek (tan ellipse) and Bywong-Macs Reef (green ellipse) areas.

Aruma has applied for exploration lease E5987 adjacent to the Capital lease (ASX announcement 5 June 2020) in the Goulburn region of NSW covering ground with known gold occurrences and historical gold workings.

Authorised for release by Peter Schwann, Managing Director.

FOR FURTHER INFORMATION PLEASE CONTACT:

Peter Schwann James Moses 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

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

Aruma Resources Limited is a proud supporter and member of the Association of Mining and Exploration Companies, 2020.

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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 .

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