CLARA RESOURCES AUSTRALIA LTD — Capital/Financing Update 2017

Oct 30, 2017

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ASX Announcement

Aus Tin Mining Limited (ASX:ANW)

31 October 2017

Increase in Funding Package to Advance Tin, Lithium and Cobalt Projects

Highlights

• Convertible Security Funding Agreement (CSFA) increased from AU$3,250,000 to AU$3,500,000.

• Additional Investment (second tranche) increased from AU$250,000 to AU$500,000.

• Additional funds will be used to advance the Company’s tin, lithium and cobalt projects.

The Directors of Aus Tin Mining Limited ( the Company) are pleased to announce an increase in total funding available under the previously announced Convertible Security Funding Agreement ( CSFA ) executed with The Australian Special Opportunity Fund L.P, a fund managed by The Lind Partners (together Lind ). The Company and Lind have agreed to increase the total funding from AU$3,250,000 to AU$3,500,000, with the Additional Investment (second tranche) increasing from AU$250,000 to AU$500,000, and funds to be advanced within 10 working days. All other terms and conditions of the CSFA remain unchanged. The additional funds will be used to advance the Company’s tin, lithium and cobalt development and exploration programs.

At Torrington (NSW), the Company was recently granted two exploration licences (EL 8637 and EL 8639) that it considers prospective for the lithium bearing mica mineral, zinnwaldite[1] . The New England geological setting is dominated by the intrusion of highly differentiated granites (locally the Mole Granite) into an acid volcanic and meta sediment pile, and the Company has identified at least three locations close to the contact of the Mole Granite where historic mining activities coincide with reported presence of zinnwaldite. With the granting of the two exploration licences a consulting geologist has been engaged to progress a program of exploration.

At Mt Cobalt (QLD), the Company has been evaluating equipment to conduct drilling at the southern extent of the 800m target. The Company has recently identified a suitable drill rig and is in discussions with a potential contractor for a proposed program of work. In 2016 the Company completed nine reverse circulation (RC) holes at Mt Cobalt, including a high grade interval of 7m @ 0.84%Co & 0.83%Ni from 29m.

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On behalf of the Board KM Schlobohm Company Secretary

Email: info@austinmining.com.au

1 Refer ASX Announcement dated 16th June 2016

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

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

About Aus Tin Mining Limited

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).

About the Lind Partners

The Lind Partners is a New York‐based institutional fund manager focused on small‐ and mid‐cap companies listed in Australia, Canada and UK across mining, oil & gas, biotech and technology. Lind employs a multi‐faceted investment strategy: direct investments of new capital; participation in equity placements; IPO/pre‐IPO equity; and select on‐market trades. Since 2009, the Lind team has completed over 80 direct investments, totaling over $600 million in total value, and has earned a reputation as a creative, flexible and supportive capital partner to investee companies.

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