AVIRA RESOURCES LTD — Capital/Financing Update 2021

Mar 3, 2021

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4 March 2021

The Manager Market Announcements Office Level 40, Central Park 152-158 St Georges Terrace PERTH WA 6000

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AVW - WYLOO COPPER GOLD PROJECT

HIGHLIGHTS

• ➢ Avira has identified and pegged a series of exploration tenements totaling 179 sub blocks (collectively the Wyloo Copper/Gold Project) located in the Ashburton region of Western Australia.

• ➢ The Wyloo project consists of 586km[2] of tenure in five Exploration License Applications (E08/3329, E08/3330, E08/3331, E08/3332, E08/3333).

• ➢ The Wyloo Project is prospective for Mount Clement style epithermal sediment-replacive Au-AgCu hosted within the Wyloo Group sediments.

• ➢ This project is considered to be complimentary to Avira’s existing copper project (Mount Macpherson) located in the Paterson Range.

• ➢ The location of this project in the North West Gasgoyne will allow for continuous exploration activity between the Paterson Range in the Pilbara and the Ashburton Basin in the Gasgoyne provinces in Western Australia.

Avira Resources Limited (ASX: AVW) ( Avira or the Company ) is pleased to announce it has pegged five exploration licenses in the Ashburton Basin, Western Australia (the Wyloo Project ) to explore for epithermal gold, silver and copper. The Wyloo Project consists of 5 exploration licenses (E08/3329, E08/2230, E08/3321, E08/3332, E08/3333).

Avira Resources Limited Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia T: 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au

ABN: 38 131 715 645

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Commenting on the announcement today Avira’s Executive Director David Deloub said;

“The Wyloo Project is an exciting greenfields exploration opportunity developed from a review of recent Geological Survey of Western Australia research into the Ashburton Basin gold deposits. In a highly competitive exploration environment, Avira has secured a substantial ground position in an emerging gold/copper province.”

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Figure 1. Location of Avira’s Wyloo copper/gold Project

Mount Clement Gold Deposit – Epithermal Au-Ag-Cu Mineralisation

The Mount Clement gold deposit is a small occurrence of gold hosted within the Ashburton Basin, Western Australia.

Mineralisation at Mount Clement occurs in a ~600-700m long, 200-300m thick section of the Wyloo Group sediments, on the north side of a hill. The deposit is hosted within metamorphosed calcareous and silicilastic rocks (shale, carbonate, dolomite, mudstone, sandstone), and chert (hydrothermal exhalate), forming an exhalite mound (Figure 2).

Mt Clement has recently been mapped and described by the Geological Survey of Western Australia as syngenetic and epithermal. The GSWA interpretation is that the deposit formed roughly synchronous with the Wyloo Group sedimentation at ~1828Ma, with the intrusion of the Moorarie Suite granitoids from c. 1830-1798Ma. The genetic model preferred for the Mt Clement Au-Cu-Ag deposit is that of hydrothermal fluids flowing up syn-sedimentary faults, and depositing gold in exhalative carbonate-chert-pyrite within the subsurface of the sediments.

Avira Resources Limited Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia T: 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au

ABN: 38 131 715 645

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Figure 2 Mount Clement Gold Deposit ore genetic model (GSWA, 2021)

Another implication is that this represents one end-member of granite-associated mineralizing processes within the Wyloo Group during the intrusion of the Moorarie Suite. Other examples of granite-associated epigenetic mineralization includes skarn and VMS type mineralization, such as tungsten skarns at Mount Alexander (Kimber Well), and VMS hosted within felsic volcaniclastic sediments throughout the Wyloo Group.

Gneiss Results, Avira’s consultant, identified prospective geology ‘search space’ within the Ashburton Basin being defined by the Wyloo Group sediments which are within 5km of Moorarie Suite granites. This forms a halo of prospective ground surrounding Moorarie Suite granites within the north of the Gascoyne Province (Figure 3). Gneiss Results identified several areas located in open ground which have been applied for under five exploration licenses.

Avira Resources Limited Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia T: 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au

ABN: 38 131 715 645

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Figure 3: Prospective 5km corridor surrounding Moorarie/Wyloo Contact

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Figure 4: Open Ground Applied for under five exploration licences by Avira Resources.

Area A. Exploration licences E08/3329 (Tajeri Bore) and E08/3330 (Mount Edith)

These tenements cover 26 and 32 sub-blocks, respectively, for a combined area of 155km2. The tenement overlies an area of the Wyloo Group within the prospective 5 kilometre prospectivity halo, covered by alluvium, colluvium and sheetwash. Initial interpretation of regional magnetic surveys shows a series of north-east and north0west striking structures within a zone of constriction between low-magnetic granitoids.

Avira Resources Limited Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia T: 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645

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Figure 5. Wyloo Tenement Geology

Area B: Exploration licence E08/3331 (Gilba Bore)

This tenement consists of 39 sub-blocks over an area of 123km[2] and covers a 21km strike of Wyloo Group sediments which are within 5 kilometres of Moorarie Granite. Preliminary interpretation of magnetic and geological mapping has been undertaken, showing Wyloo Group sediments are underlain and interfinger with Moorarie Granitoids. A series of faults transect the area, and are associated with magnetic anomalies. The interpretation is that these magnetic anomalies are possibly related to skarnification and alteration.

The tenement is mostly unexplored, with limited prospecting and sampling undertaken in the 19501980 period. Avira is compiling the historical exploration information on this tenement.

Area C: Exploration licence E08/3332 (Mount Price)

This tenement covers 43 sub-blocks and 135km[2] . The tenement covers a 16 kilometre strike of contact between a Moorarie Granite intrusion and the enclosing Wyloo Group metasediments. The granite contact is magnetically anomalous compared to other areas, possibly representing skarnification and alteration. The area has little past exploration and no systematic rock chip, stream or sediment sampling.

The remainder of the tenement covers a NW trending structural corridor which is mostly within the 5 kilometre prospective zone, and could potentially represent alteration/skarnification and growth

Avira Resources Limited Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia T: 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au

ABN: 38 131 715 645

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faults capable of hosting epithermal mineralization. Magnetic lows may represent smaller masses of prospective granite at depth.

Area D: Exploration licence E08/3333 (Thowagee Well)

This tenement consists of 39 sub-blocks for 155km[2] , covering a 17km strike of Wyloo Group sediments which lie within 5 kilometres of Moorarie Suite Granites in two zones, on the east and west of the tenure, and mixed granite-gabbro remnants within the Moorarie Suite in the centre of the tenure. The area is generally well exposed, with lateritised colluvium shallowly covering granitoid and metasediments. There has been regional scale stream sediment sampling over the western prospective area, which has shown low-level anomalism in several elements, but the east is not well explored. Avira is undertaking data compilation.

Exploration Plan

Avira Resources has begun data compilation of the sparse historical exploration data from the WAMEX online database and is compiling regional datasets.

Initial exploration is due to commence within the coming weeks with a land access, logistics and field verification trip planned to investigate and ground truth the geology, to develop targeting concepts and assess the effectiveness of the limited exploration conducted on the tenements to date.

Further substantial work will await grant of the tenure, in the latter part of the year.

Acquisitions

Project generative work continues to investigate further metallogenic concepts in sediment hosted copper and gold, and in other commodities, to build a portfolio of highly prospective tenure. Avira continues to assess new project opportunities, via both acquisitions and applications in its’ own right.

For, and on behalf of, the Board of the Company, and authorised for release.

David Deloub Investor Relations/Media Contact Executive Director Sarah Lenard – Advisir Avira Resource Limited Telephone: +61 432 332 905 Email: sarah.lenard@advisir.com.au

-ENDS-

Forward looking statements

This announcement contains forward-looking statements which are identified by words such as ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘expects’, or ‘intends’ and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this announcement, are expected to take place. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the directors and our management. We cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this prospectus will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. We have no intention to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this announcement, except where required by law. These forward looking statements are subject to various risk factors that could cause our actual results to differ materially from the results expressed or anticipated in these statements.

Avira Resources Limited Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia T: 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au

ABN: 38 131 715 645

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Competent Persons Statement

The information in this announcement that relates to Exploration Results is based on and fairly represents information and supporting documentation prepared by Mr Roland Gotthard. Mr Gotthard is a consultant geologist for AVW and a member of the Australian Institute of Mining and Metallurgy. Mr Gotthard has sufficient experience relevant to the styles of mineralisation and types of deposits which are covered in this announcement and to the activity which they are undertaking 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 Reserves’ (“JORC Code”). Mr Gotthard consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

About Avira Resources Limited

Avira Resources (AVW)h and ASX listed mining exploration company currenly holds two tenement packages within the Paterson Range province which is host to a number of substantial gold, copper and tungsten mines and deposits, including the Telfer gold-copper mine. Subsequent significant recent discoveries made by Rio Tinto (Winu project) and the NewcrestGreatland Gold JV (Havieron project) has reinvigorated interest in the province.The Avira projects are situated in the Yeneena basin sedimentary rock formation that hosts both the Nifty and Maroochydore copper deposits.

Tenement Table

Wyloo Project

LEASE	NAME	NAME	AR EA	AREA UNITS	APPLIED DATE	GRANT DATE	EXPIRY DATE	HOLDER	EA
E08/3329		Tajeri Bore	26	Sub-Blocks	18-Feb-21	N/A	N/A	Avira 100%	E08/3329
E08/3330		Mount Edith	32	Sub-Blocks	18-Feb-21	N/A	N/A	Avira 100%	E08/3330
E08/3331		Gilba Bore	39	Sub-Blocks	18-Feb-21	N/A	N/A	Avira 100%	E08/3331
E08/3332		Boolaloo	43	Sub-Blocks	18-Feb-21	N/A	N/A	Avira 100%	E08/3332
E08/3333		Thowagee Well	39	Sub-Blocks	18-Feb-21	N/A	N/A	Avira 100%	E08/3333

Avira Resources Limited Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia T: 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645