CLARA RESOURCES AUSTRALIA LTD — Capital/Financing Update 2017

Oct 5, 2017

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ASX Announcement

Aus Tin Mining Limited (ASX:ANW)

6 October 2017

Exploration and Operations Update

Highlights

• First sales of tin concentrate from Granville Tin Project

• Taronga Stage 1 Project development application anticipated to be considered in November 2017

• On‐going field work undertaken at Mt Cobalt

• Exploration Licences granted enabling resumption of lithium exploration at Torrington

The Directors of Aus Tin Mining Limited (the Company ) are pleased to provide an exploration and operations update for its various projects, with additional details to be provided in the September quarterly report due at the end of October.

Granville Tin Project

The Company announced earlier today its first sale of tin concentrate from the Granville Tin Project under its off‐take agreement with Traxys Europe ( Traxys ). The shipment, which was dispatched from Zeehan late yesterday, comprised approximately five tonnes of high grade tin concentrate assaying 62.7%Sn and will be used to pilot the logistics chain and commercial arrangements under the Traxys off‐take agreement, and provide the receiving smelter with a “trial” parcel of tin concentrate ahead of future shipments.

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Figure 1 ‐ Shipment Number 1 sold to Traxys Europe S.A

During the last quarter the Company continued to operate under its existing user rights (Level 1) whilst completing outstanding documentation for the Level 2 operations as approved by the West Coast Council on 20[th] June 2017. Wet weather conditions have hampered the ability to commence physical construction on key Level 2 infrastructure, notably the new tailings storage facility and waste rock emplacements. A program of works at the Granville Processing Plant is on‐going and during the quarter included the installation of additional gravity equipment and refurbishment of a rolls crusher.

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

Taronga and Torrington Tin Project (NSW)

During the last quarter the Company completed a number of studies to address requests for additional information in relation to the Development Application and Environmental Impact Statement (EIS) for the Taronga Stage 1 Development. These studies have been submitted to the Glen Innes Severn Council (GISC) and subject to no further work being required, the GISC have indicated the Development Application may be considered at its November 2017 council meeting.

During the quarter the Company was granted EL 8637 and EL 8639 for Group 2 & 3 minerals exploration which substantially cover EL 7800 and EL 8407 for Group 1 minerals also held by the Company. The Company has previously reported the identification of lithium mineralisation at the Taronga and Torrington Tin Projects, specifically the occurrence of zinnwaldite. Zinnwaldite is a lithium silicate mineral in the mica group, and the Company considered it prudent to secure exploration rights for mica (Group 2) before progressing its lithium exploration program.

Mt Cobalt (Qld)

During the quarter the Company continued a program of field work at Mt Cobalt, including a trial of a Shaw drill at the southern end of the 800m target zone but which was abandoned due to a slow penetration rate and low core recovery. Alternative drills are being evaluated.

Assay results from rock chips taken during previous field mapping were received with results greater than 0.1% Co provided below. Also refer Appendix 1

Table 1 – Results of rock chip sample at Mt Cobalt

Sample ID	Location	Co(ppm)	Cu (ppm)	Ni(ppm)	Mn (ppm)
AO15/DR8769	427572E; 7102311N	4970	801	4980	83200
AO16/DR8770	427572E; 7102310N	2620	380	9430	19800
AO17/DR8771	427572E; 7102333N	4590	545	4960	33000
AO33/DR8787	427659E; 7102427N	1260	138	3780	10250
AO37/DR8791	427668E; 7102408N	1480	232	2600	8170

Commodity Prices

The forecast for both tin and cobalt prices remain positive underpinned by growing demand and supply constraints. Year to date the US Dollar tin price has ranged between US$18,760/t and US$22,225/t and overnight traded above US$21,000/t on the back of declining LME stocks (1,970 tonnes). The US Dollar cobalt price continues to perform strongly rising 117 percent during the past 12 month to US$59,000/t. Both commodities are integral to energy generation and storage applications.

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Figure 2 – 12 month US Dollar tin and cobalt prices

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

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

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Appendix 1

JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

	Criteria	JORC Code explanation	Commentary
	Sampling	 Nature and quality of sampling (eg cut channels, random chips, or specific	 These are continuous chip samples from rock exposures and in some cases
	techniques	specialised industry standard measurement tools appropriate to the	floaters.
		minerals under investigation, such as down hole gamma sondes, or	 The area has few exposed outcrops except close to old mine excavations.
		handheld XRF instruments, etc). These examples should not be taken as	The samples have been selected on the basis of their grade being greater
		limiting the broad meaning of sampling.	than 0.1% in order to demonstrate that such grades are present. It is
		 Include reference to measures taken to ensure sample representivity and the	assumed that similar grades can be found by drilling under adjacent scree
		appropriate calibration of any measurement tools or systems used.	cover.
		 Aspects of the determination of mineralisation that are Material to the	 All assays have been by accredited laboratories, not by portable XRF or
		Public Report.	other in house techniques.
		 In cases where ‘industry standard’ work has been done this would be
		relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m
		samples from which 3 kg was pulverised to produce a 30 g charge for fire
		assay’). In other cases more explanation may be required, such as where
		there is coarse gold that has inherent sampling problems. Unusual
		commodities or mineralisation types (eg submarine nodules) may warrant
		disclosure of detailed information.
	Drilling	 Drill type (eg core, reverse circulation, open‐hole hammer, rotary air blast,	NA
	techniques	auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard
		tube, depth of diamond tails, face‐sampling bit or other type, whether core
		_is oriented and if so, by what method, etc). _
	Drill sample	 Method of recording and assessing core and chip sample recoveries and	NA
	recovery	results assessed.
		 Measures taken to maximise sample recovery and ensure representative
		nature of the samples.
		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

Criteria	JORC Code explanation	Commentary
	 Whether a relationship exists between sample recovery and grade and
	whether sample bias may have occurred due to preferential loss/gain of
	fine/coarse material.
Logging	 Whether core and chip samples have been geologically and geotechnically	NA
	logged to a level of detail to support appropriate Mineral Resource
	estimation, mining studies and metallurgical studies.
	 Whether logging is qualitative or quantitative in nature. Core (or costean,
	channel, etc) photography.
	 The total length andpercentage of the relevant intersections logged.
Sub‐sampling	 If core, whether cut or sawn and whether quarter, half or all core taken.	NA
techniques	 If non‐core, whether riffled, tube sampled, rotary split, etc and whether
and sample	sampled wet or dry.
preparation	 For all sample types, the nature, quality and appropriateness of the sample
	preparation technique.
	 Quality control procedures adopted for all sub‐sampling stages to maximise
	representivity of samples.
	 Measures taken to ensure that the sampling is representative of the in situ
	material collected, including for instance results for field duplicate/second‐
	half sampling.
	 Whether sample sizes are appropriate to the grain size of the material being
	sampled.
Quality of	 The nature, quality and appropriateness of the assaying and laboratory	 All rocks were assayed by an accredited laboratory using aqua regia and
assay data and	procedures used and whether the technique is considered partial or total.	MS‐ICP. The samples greater than 50,000ppm Co and/or 10,000ppm Ni
laboratory	 For geophysical tools, spectrometers, handheld XRF instruments, etc, the	were reassayed by ALS using a specific ore grade technique OG‐46
tests	parameters used in determining the analysis including instrument make and
	model, reading times, calibrations factors applied and their derivation, etc.
	 Nature of quality control procedures adopted (eg standards, blanks,
	duplicates, external laboratory checks) and whether acceptable levels of
	accuracy (ie lack of bias) andprecision have been established.
Verification of	 The verification of significant intersections by either independent or	 Comparable grades have been previously reported by the Company
sampling and	alternative company personnel.
assaying	 The use of twinned holes.
	 Documentation of primary data, data entry procedures, data verification,
	data storage (physical and electronic) protocols.

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

Criteria	JORC Code explanation	Commentary
	 Discuss any adjustment to assay data.
Location of	 Accuracy and quality of surveys used to locate drill holes (collar and down‐	 Refer Table 1
data points	hole surveys), trenches, mine workings and other locations used in Mineral
	Resource estimation.
	 Specification of the grid system used.
	 Quality and adequacy of topographic control.
Data spacing	 Data spacing for reporting of Exploration Results.	NA
and	 Whether the data spacing and distribution is sufficient to establish the
distribution	degree of geological and grade continuity appropriate for the Mineral
	Resource and Ore Reserve estimation procedure(s) and classifications
	applied.
	 Whether sample compositing has been applied.
Orientation of	 Whether the orientation of sampling achieves unbiased sampling of possible	NA.
data in	structures and the extent to which this is known, considering the deposit
relation to	type.
geological	 If the relationship between the drilling orientation and the orientation of key
structure	mineralised structures is considered to have introduced a sampling bias, this
	should be assessed and reported if material.
Sample	 The measures taken to ensure sample security.	 Samples were bagged and tagged and shipped to the assay laboratory by
security		independent third party transport.
Audits or	 The results of any audits or reviews of sampling techniques and data.	 The samples were taken by qualified personnel during field reconnaissance
reviews		conducted in April 2017

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

	Criteria	JORC Code explanation	Commentary
	Mineral	 Type, reference name/number, location and ownership including Samples were taken from EPM 19366, wholly owned by Aus Tin Ltd.
	tenement and land tenure	agreements or material partnerships, overriding	issues with third parties such as joint ventures, royalties, native title interests, historical sites, The permit is currently in good standing, and the site is not affected by landowner or environmental impediments.
			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

	Criteria	JORC Code explanation	Commentary
	status	wilderness or national park and environmental settings.
		 The security of the tenure held at the time of reporting along with any
		known impediments to obtaining a licence to operate in the area.
	Exploration	 Acknowledgment and appraisal of exploration by other parties.	 Previous work was done and reported by DGR Global Ltd.
	done by other
	parties
	Geology	 Deposit type, geological setting and style of mineralisation.	 The mineralisation is classified as a lode or shear mineralised system
			hosting cobalt, copper, nickel, and gold . The better grades are expected to
			be controlled by discrete structures, and enrichments related to
			weathering..
	Drill hole	 A summary of all information material to the understanding of the
	Information	exploration results including a tabulation of the following information for all Material drill holes:	NA
		o easting and northing of the drill hole collar
		o elevation or RL (Reduced Level – elevation above sea level in metres) of
		the drill hole collar
		o dip and azimuth of the hole
		o down hole length and interception depth
		o hole length.
		 If the exclusion of this information is justified on the basis that the
		information is not Material and this exclusion does not detract from the
		understanding of the report, the Competent Person should clearly explain
		why this is the case.
	Data	 In reporting Exploration Results, weighting averaging techniques, maximum	NA
	aggregation	and/or minimum grade truncations (eg cutting of high grades) and cut‐off
	methods	grades are usually Material and should be stated.
		 Where aggregate intercepts incorporate short lengths of high grade results
		and longer lengths of low grade results, the procedure used for such
		aggregation should be stated and some typical examples of such
		aggregations should be shown in detail.
		 The assumptions used for any reporting of metal equivalent values should
		be clearly stated.
		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

Criteria	JORC Code explanation	Commentary
Relationship	 These relationships are particularly important in the reporting of Exploration	NA
between	Results.
mineralisation	 If the geometry of the mineralisation with respect to the drill hole angle is
widths and	known, its nature should be reported.
intercept lengths	 If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).
Diagrams	 Appropriate maps and sections (with scales) and tabulations of intercepts
	should be included for any significant discovery being reported These should
	include, but not be limited to a plan view of drill hole collar locations and
	appropriate sectional views.
Balanced	 Where comprehensive reporting of all Exploration Results is not practicable,	Only results greater than 0.1%Co are reported
reporting	representative reporting of both low and high grades and/or widths should
	be practiced to avoid misleading reporting of Exploration Results.
Other	 Other exploration data, if meaningful and material, should be reported
substantive	including (but not limited to): geological observations; geophysical survey
exploration	results; geochemical survey results; bulk samples – size and method of
data	treatment; metallurgical test results; bulk density, groundwater,
	geotechnical and rock characteristics; potential deleterious or
	contaminating substances.
Further work	 The nature and scale of planned further work (eg tests for lateral extensions	Follow‐up drilling will be undertaken to test the exploration target.
	or depth extensions or large‐scale step‐out drilling).
	 Diagrams clearly highlighting the areas of possible extensions, including the
	main geological interpretations and future drilling areas, provided this
	information is not commercially sensitive.

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