ARUMA RESOURCES LIMITED — Capital/Financing Update 2022

Feb 7, 2022

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8 February 2022

ARUMA COMMENCES DRILLING AT MT DEANS LITHIUM PROJECT

Highlights

• First phase of drilling has commenced at Mt Deans Lithium Project

• Program to consist of up to 3,000m RC drilling to a depth of up to ~200m - with holes spaced ~50m apart

• Drilling designed to confirm the presence of a thick pegmatite pod and intersect an interpreted pegmatite chamber or ‘cauldron’

• Aruma views the Mt Deans Project as being highly prospective for lithium, tantalum and REE minerals

• Project situated in the lithium corridor in south-east WA - is interpreted to sit within the same host rocks as the Mt Marion, Bald Hill and Buldania Lithium Projects

• Previous exploration identified swarm pegmatites over a 1km strike length; and

• Returned high-grade rock chip samples of up to 2.1% Li2O, and 555.9ppm Ta2O5 (tantalum pentoxide).

Aruma Resources Limited (ASX: AAJ) ( Aruma or the Company ) is pleased to announce that the first-phase of drilling has commenced at the Mt Deans Lithium-Tantalite Project (P63/2063) in the Goldfields region of Western Australia (Figures 1 and 4).

The Mt Deans Project is situated in the Mt Deans pegmatite field, within the Eastern Goldfields Terrane of the Yilgarn Craton, approximately 170 kilometres south of the major regional centre of Kalgoorlie, and approximately 10 kilometres south of the mining town of Norseman (Figure 2).

The Project sits within the lithium corridor in south-east WA, which hosts multiple significant hard-rock lithium projects. It is interpreted to sit within the same host rocks and structures as the significant nearby Mt Marion, Bald Hill and Buldania Lithium Projects.

Drilling is now underway after all requisite approvals were graned and site preparation works completed.

The first phase of drilling at Mt Deans is planned to comprise approximately 3,000m of reverse circulation (RC) drilling to a depth of up to 200m (in pegmatite), with holes spaced approximately 50 metres apart.

ASX: AAJ

Capital Structure 126M Shares on Issue 21M 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 Stephen Denn

Gold Projects -1,338km[2]

Norseman

SALMON GUMS - 222km[2] Pilbara

MELROSE - 371km[2] SALTWATER -744km[2 ]

Li Ta Project

Norseman

MT DEANS 1.44 km[2]

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

Aruma Resources Limited is a proud supporter and member of the Association of Mining and Exploration Companies, 2022.

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Figure 1: Drilling underway at the first drill target at Mt Deans Lithium Project

Drilling is designed to confirm the presence of a thick pod of pegmatite interpreted from convergent dips seen in historic drilling, and to intersect an interpreted pegmatite chamber or ‘cauldron’ (Figure 3).

The program uses a track-mounted fully self-contained RC Rig (Figures 1 and 4), which required minimal site preparation and will help ensure the smallest disturbed footprint around the drill target areas. Results will be released as they become available.

Background to the Mt Deans Lithium Project

Aruma views the Mt Deans Project as being highly prospective for lithium minerals, as wells as tantalum and rare earth element (REE) minerals. Previous exploration has identified swarm pegmatites over a strike length of 1 kilometre.

High-grade rock chip samples have previously been reported from the Project area, with lithium oxide results as high as 2.1% Li2O, and tantalum (Ta) as high as 555.9ppm Ta2O5 (tantalum pentoxide) plus other rare earth elements (Table 1) (ASX announcement, 24 March 2021).

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Aruma Resources Limited is a proud supporter and member of the Association of Mining and Exploration Companies, 2022.

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Figure 2: Mt Deans Lithium-Tantalite Project area, with pegmatites and rock chip locations, and projected cauldron

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Figure 3: Mt Deans Lithium-Tantalite drill section with pegmatites and projected cauldron with the

planned holes ( From Tantalum Australia Operations Pty Ltd Annual Report 2002 (A65809))

Aruma Resources Limited is a proud supporter and member of the Association of Mining and Exploration Companies, 2022.

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Figure 4: Drill rig mobilising to first drill target at Mt Deans Lithium Project

Table 1: Rock Chip samples from Mt Deans

	Li20	Ta2O5	Zone 51H	Zone 51H	Samples	Samples
Sample	%	ppm	Easting	Northing	Type	Li Mineral
AR001	0.8	222.7	385,687	6,427,446	Rock	Zinnwaldite
AR002	1.3	185.1	385,663	6,427,307	Rock	Lepidolite
AR003	2.1	555.9	385,541	6,427,026	Rock	Lepidolite
AR004	1.3	136.5	385,480	6,426,823	Rock	Lepidolite
Average	1.4	275.0	Kathleen Valley(LTR) Pilgangoora(PLS) Buldania(LTR)
Comparison	1.4	130.0	Kathleen Valley(LTR)
	1.3	120.0	Pilgangoora(PLS)
	1.0	44.0	Buldania(LTR)

Authorised for release by Peter Schwann, Managing Director.

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Aruma Resources Limited is a proud supporter and member of the Association of Mining and Exploration Companies, 2022.

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FOR FURTHER INFORMATION PLEASE CONTACT:

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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 E: james@mandatecorporate.com.au E: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. 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 previously reported have 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.

FORWARD LOOKING STATEMENT

Certain statements contained in this document constitute forward looking statements. Such forward-looking statements are based on several estimates and assumptions made by the Company and its consultants considering 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.

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Aruma Resources Limited is a proud supporter and member of the Association of Mining and Exploration Companies, 2022.

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