CLARA RESOURCES AUSTRALIA LTD — Capital/Financing Update 2017

Dec 21, 2017

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ASX Announcement

Aus Tin Mining Limited (ASX:ANW)

22 December 2017

Taronga Stage 1 Approved

The Directors of Aus Tin Mining Limited (the Company ) are pleased to advise that the Glen Innes Severn Council last night approved the Development Application for the Taronga Stage 1 Project. The approval follows the preparation and submission of a comprehensive Environmental Impact Statement and extensive discussions with various NSW Government agencies and community groups. The Company expects to receive formal notification of the approval and all associated conditions from the Council in the coming weeks.

The Taronga Stage 1 Project will comprise a trial mine and pilot plant to process approximately 340,000 tonnes of ore and produce a saleable concentrate over an 18 to 24 month period. The Stage 1 Project will be contained wholly within freehold property owned by the Company.

A primary objective of the Stage 1 Project will be to assess areas of upside identified during the Updated PFS completed in 2014, including the potential for a higher resource grade, increased tin recovery and grade and potential recovery of by‐product credits including copper and silver. In itself, a higher resource grade could significantly improve the economics of the project and is based on the following evidence:

• BHP & Newmont assessed bulk samples (true range 0.19%Sn to 0.25%Sn);

• Positive reconciliation from 2015 drilling (average 0.26%Sn for composite metallurgical sample);

• MiningOne indicate “probable range of true grades ~0.19%Sn to 0.25%Sn”.

MiningOne (the consultants that prepared the 2013 Mineral Resource for Taronga) observed that larger samples assayed higher grades, attributed this to the “nuggetty” nature of the coarse tin mineralisation, and that the true grade for the project could be 0.19‐0.25%Sn ( Figure 1 ), higher than the Mineral Resource grade of 0.16%Sn. A grade of 0.19%‐0.25%Sn could have a significant impact on tin production and revenue generated. The Company intend to effectively collect a 340,000 tonne sample from the Stage 1 Project to assess the grade.

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Figure 1 – Probable range of true grades for Taronga Tin Project and economic implications

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

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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

Company Twitter account: @AusTin_Mining

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

About Aus Tin Mining (the Company)

Aus Tin Mining Limited (ASX: ANW) has a vision to become a major Australian tin producer. The Company has recommenced production at the high grade Granville Tin Project located north of Zeehan (TAS) and the Company intends to expand the Granville Tin Project and undertake exploration to extend the Life of Mine. The Company is also developing the world class Taronga Tin Project located near Emmaville (NSW). The Company defined and announced its maiden JORC compliant resource for the Taronga Tin Project in late 2013 and test work and exploration activities on site have revealed potential credits for copper, silver, tungsten, molybdenum, lithium and rubidium. Highly prospective regional targets have also been established within the Company’s broader tenement footprint, and within trucking distance of the proposed processing site at Taronga. Plans for a staged development of the Taronga Tin Project are in formation, together with the associated approvals processes.

The Company also maintains an active exploration program. The Company holds a portfolio of exploration licenses prospective for nickel, cobalt and copper (Kilkivan QLD); and tin, copper, silver, tungsten and lithium (Torrington NSW).

Forward Looking Statement

This announcement may contain certain statements and projections provided by or on behalf of Aus Tin Mining Limited (Aus Tin Mining) with respect to the anticipated future undertakings. These forward‐looking statements reflect various assumptions by or on behalf of Aus Tin Mining. Accordingly, these statements are subject to significant business, economic and competitive uncertainties and contingencies associated with exploration and/or mining which may be beyond the control of Aus Tin Mining which could cause actual results or trends to differ materially, including but not limited to price fluctuations, exploration results, reserve and resource estimation, environmental risks, physical risks, legislative and regulatory changes, political risks, project delay or advancement, ability to meet funding requirements, factors relating to property title, native title and aboriginal heritage issues, dependence on key personnel, share price volatility, approvals and cost estimates. Accordingly, there can be no assurance that such statements and projections will be realised. Aus Tin Mining makes no representations as to the accuracy or completeness of any such statement of projections or that any forecasts will be achieved.

Additionally, Aus Tin Mining makes no representation or warranty, express or implied, in relation to, and no responsibility or liability (whether for negligence, under statute or otherwise) is or will be accepted by Aus Tin Mining or by any of their respective officers, directors, shareholders, partners, employees, or advisers as to or in relation to the accuracy or completeness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this presentation or any omission from this presentation or of any other written or oral information or opinions provided now or in the future to any interested party or its advisers. In furnishing this presentation, Aus Tin Mining undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise.

Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. It does not include all available information and should not be used in isolation as a basis to invest in Aus Tin Mining Limited .

COMPETENT PERSON STATEMENT

The information in this presentation that relates to Exploration Targets and Exploration Results is based on information compiled by Mr Nicholas Mather B.Sc (Hons) Geol., who is a Member of The Australian Institute of Mining and Metallurgy. Mr Mather is employed by Samuel Capital Pty Ltd, which provides certain consultancy services including the provision of Mr Mather as a Director of Aus Tin Mining. Mr Mather has more than five years experience which is relevant to the style of mineralisation and type of deposit being reported and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves’ (the JORC Code). This public report is issued with the prior written consent of the Competent Person(s) as to the form and context in which it appears.

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