CLARA RESOURCES AUSTRALIA LTD — Capital/Financing Update 2018

Sep 4, 2018

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ASX Announcement

Aus Tin Mining Limited (ASX:ANW)

5 September 2018

Development & Exploration Update

The Directors of Aus Tin Mining Limited (the Company ) are pleased to provide the following update in relation to the Company’s tin and cobalt projects.

Taronga Tin Project

Pre‐construction regulatory approvals for the Stage 1 Project are progressing and are summarised below:

• The Company has now received an offer of grant from NSW Department of Planning and Environment for Mining Lease Application 554 which incorporates the Stage 1 Project, and the Company intends to satisfy all outstanding requirements for formal grant within the month;

• The NSW Dam Safety Committee have advised the design for the tailings storage facility conforms with its requirements and the Company is now progressing the construction certificate with the Glen Innes Severn Council;

• Applications for the water use licence and supply works have been submitted to the Natural Resource Access Regulator and are currently being assessed, and the water access licence has been approved by Water NSW;

• Application for the Environmental Protection Licence was submitted to the Environment Protection Authority during August and is currently being assessed; and

• The Company intends to submit the draft Mining Operations Plan (MOP) to the Department of Planning and Environment upon formal grant of the Mining Lease.

The Company previously issued an Expression of Interest to potential contractors for mining and tailings dam construction services for the Stage 1 Project, and is currently progressing negotiations with preferred parties.

The Company has dispatched a two tonne sample for ore sorting test work to be conducted by Tomra Sorting Solutions Pty Ltd during September. The test work will further assess the amenability of Taronga ore to ore‐sorting and if successful, provide design data for a production unit. In the interim, metallurgical and engineering design for the Stage 1 pilot plant are well progressed.

Granville Tin Project

Pre‐production activities at the Granville East Mine have largely been completed, including the construction of water management infrastructure, waste rock emplacements and crushing pads. Mining of waste rock has commenced with temporary drilling equipment (Figure 1) ahead of the blast hole production drill due to be mobilised later this month.

Construction of the new Tailings Storage Facility (TSF) had previously been suspended due to the wet ground conditions and more efficient utilisation of equipment at the mine. The wall of the new TSF has largely been constructed to a height of RL 199m compared with the final design height of RL 202.5m and will resume at the earliest opportunity.

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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Figure 1 – Temporary site drill undertaking works for first bench blast at Granville East Mine

Mt Cobalt Nickel‐Cobalt‐Copper Project

The Company has appointed a drilling contractor to undertake a program of work at Mt Cobalt and Pembroke, with work scheduled to commence the first week of October subject to satisfactory weather. The program will include up to six Reverse Circulation (RC) drill holes at two previously undrilled target areas that may host shear zones. Drilling conducted earlier this year demonstrated shear zones at Mt Cobalt contain high grade cobalt mineralisation (asbolite). The program will also include two RC/diamond drill holes to target zones of high magnetic susceptibility at Pembroke and Mt Cobalt respectively.

In the interim, the Company is undertaking an Induced Polarisation (IP) survey at Mt Cobalt to assess the chargeability proximate to the zone of high magnetic susceptibility. Zones of anomalous chargeability

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levels may be indicative of sulphide mineralisation and provide additional data for drill hole design. During August an assessment of historic IP data from Pembroke (1km south of Mt Cobalt) was undertaken from which a decision was made to change the previously proposed hole (PLN002) to a hole that tests both the plunge of the magnetic model and an elevated IP anomaly (PLN003 in Figure 2).

Figure 2 – Pembroke Magnetic and Induced Polarisation Models (with revised drill hole PLN003)

The Company will continue to update the market as the work at the three projects progresses.

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. In December 2017 the Company received approval for the first stage of development at Taronga for a trial mine and pilot plant.

The Company is also actively exploring for cobalt at its Mt Cobalt project west of Gympie (QLD). Recent drilling has returned high grades for an enriched cobalt‐manganese oxide zone. In addition the Company is exploring an approximately 4km arc along the contact with the Black Snake Porphyry which is prospective for cobalt, nickel, copper and gold.

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