ASTRON LIMITED — Interim / Quarterly Report 2018

Oct 31, 2017

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ASTRON CORPORATION LIMITED ARBN 154 924 553

Incorporated in Hong Kong, company number 1687414

Notice to the Australian Stock Exchange

Production and Exploration Report

Quarter Ended 30 September 2017

Donald Mineral Sands Pty Ltd (DMS) and Sovereign Gold NL (SG) (both 100% controlled by Astron Corporation Limited)

DMS owns EL5255, EL5472, MIN5532, RL2002 (formerly EL4433), RL2003 (formerly EL4432) and RL2006 (formerly EL5353 and RLA2006), SG owns EL5186, which together comprise the Donald Mineral Sands Project (Donald Project).

Donald Project

PRODUCTION

During the quarter the Donald Project did not conduct any production activities.

DEVELOPMENT

During the quarter, the development of the Donald continued with the following being undertaken:

Feasibility study

DMS has completed the technical aspects of the optimisation of the feasibility study as previously announced and work continues on the capital aspects of the optimisation. Initial indications are that improvements from the updated technical aspects and the use of Chinese equipment will be positive. An updated feasibility study is anticipated to be completed shortly.

Funding

As announced on 13 October 2015, DMS entered into an EPC (engineering, procurement and construction) contract with the China Machinery Engineering Corporation. As announced on 28 April 2017, the parties have agreed to extend the date for satisfaction of conditions precedent under the EPC contract to 1 December 2017. The parties continue to work towards satisfaction of conditions precedent and improving the projects.

Registered Office: Level 17, 383 Kent Street, Sydney NSW 2000, Australia www.astronlimited.com

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EXPENDITURE SUMMARY

Total expenses incurred were:

Production ActivitiesDevelopment Activities	SeptQtr 2017NilSeptQtr 2017$108,342	YTD 2018FYNilYTD 2018FY$108,342

Niafarang Project

Astron owns licence issued under Order Number 09042/MIM/TMG

PRODUCTION

During the quarter the Niafarang Project did not conduct any production activities.

DEVELOPMENT

Mining licence application

As announced on 8 June 2017, the mining licence was issued. All aspects of the project are now being progressed to target commencement of activities in first quarter 2018. It is anticipated that the mine will be a surface mine with little or no overburden, meaning the mining method will be relatively straightforward with spiral separation.

In September 2017, Astron incorporated a new Senegalese subsidiary known as “Senegal Mineral Resources” for the Senegal project.

EXPENDITURE SUMMARY

Total expenses incurred were:

Production Activities	SeptQtr 2017Nil	YTD 2018 FYNil
Development Activities	SeptQtr 2017	YTD 2018FY
	$499,484	$499,484

Note: the development activities expenditure includes procurement, design and consulting in anticipation of commencement of the Senegal project.

For further information, please contact:

Kang Rong, Executive Director +61 3 5385 7088 Joshua Theunissen, Australian Company Secretary +61 3 5385 7088 joshua.theunissen@astronlimited.com

Minyip

31 October 2017

Registered Office: Level 17, 383 Kent Street, Sydney NSW 2000, Australia www.astronlimited.com