CLARA RESOURCES AUSTRALIA LTD — Capital/Financing Update 2016

Jan 31, 2016

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ASX Announcement

AusTin Mining Limited (ASX:ANW)

1 February 2016

Funding term sheet executed to facilitate the resumption of operations at Granville Tin Project

Highlights

• Term sheet executed to provide $1.23M in funding to facilitate the resumption of operations at the Granville Tin Project.

The Directors of Aus Tin Mining Limited (the Company ) are pleased to advise that the Company has executed a term sheet with the Company’s second largest shareholder, Australian Mineral Investments Pty Ltd (formerly ACN 604 719 520 Pty Ltd)( AMI ), to fund the resumption and expansion of operations at the Granville Tin Project. The key terms of the term sheet are as follows:

• Placement of $305,000 to earn a 50 percent interest in Ten Star Mining Pty Ltd, the subsidiary acquiring the Granville Tin Project;

• Provision of a $750,000 bank guarantee to support overdraft and bonding facilities to be provided by a commercial bank;

• Deferred but committed placement of $177,500 in Aus Tin Mining Limited, at $0.005 per share, to take AMI’s interest in Aus Tin Mining Limited to 19.9 percent; and

• AMI will be entitled to appoint a Director to both Ten Star Mining Pty Ltd and Aus Tin Mining Limited.

The collective funding package will provide the necessary funds for a resumption of operations at Granville and anticipated expansion subject to regulatory approvals.

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On behalf of the Board KM Schlobohm Company Secretary

Email: info@austinmining.com.au

Electronic copies and more information are available on the Company website: www.austinmining.com.au

For further information contact:

Mr. Peter Williams Karl Schlobohm CEO, Aus Tin Mining Limited Company Secretary, Aus Tin Mining Limited Ph: 07 3303 0611 Ph: 07 3303 0680

Aus Tin Mining Limited Level 27, 111 Eagle Street, Brisbane, Qld 4000 (GPO Box 5261) Phone: 07 3303 0611, Fax: 07‐3303 0681