CLARA RESOURCES AUSTRALIA LTD — Capital/Financing Update 2018

Mar 4, 2018

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ASX Announcement

Aus Tin Mining Limited (ASX:ANW)

5 March 2018

Mt Cobalt Exploration Update

Highlights:

• ➢ Field reconnaissance locates historic workings and weathered serpentinite host rock south of the existing target zone

• ➢ Preliminary metallurgical test work generates encouraging beneficiation results with ten-fold concentration of heavy minerals to a concentrate

The Directors of Aus Tin Mining Limited (the Company ) are pleased to provide the following update in respect of the Company’s Mt Cobalt project, approximately 40km west of Gympie, Queensland.

On 16[th] February the Company announced a target zone at Mt Cobalt of 350m long x 25m wide and open at depth and down dip to the west. It also reported the potential to extend the target zone to the south towards historic workings identified in a 1901 Queensland Government report. The Company has since undertaken field reconnaissance at Mt Cobalt and located the N[o] 3 tunnel described in the report (Figure 1a) approximately 190m to the south of the target zone. The weathered serpentinite (which hosts the shear and enriched cobalt-manganese mineralisation further north in the target zone) was evident at the opening of the N[o] 3 tunnel (Figure 1b). Rock chip samples from both the tunnel and outcrop proximal to the tunnel have been submitted for geochemical analysis

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Figure 1a – N[o] 3 Tunnel (@100m SSE of target zone)

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Figure 1b – Target zone weathered serpentinite (above & left of hammer)

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

As previously reported, the exploration target zone containing the mineralised shear is interpreted to exist as a zone of weathered serpentinite overlying the unweathered serpentinite of the Mt Mia Serpentinite and remaining open to the north-west (Figure 2). The presence of the weathered serpentinite at the N[o] 3 tunnel could support an extension of the previously identified target zone (orange shading in Figure 2) to the south and further field work will be undertaken.

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Figure 2 – Plan view of Mt Cobalt showing interpreted shear orientation and cobalt mineralised target zones

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

On the 16[th] February the Company also reported it had commenced a program of metallurgical test work to assess the potential to pre-concentrate material from the target zone. A series of heavy liquid separation (HLS) tests were conducted by Mineral Technologies on four size fractions to assess the amenability of the target zone mineralisation to gravity separation. Initial results indicate a potential ten-fold concentration of heavy minerals (specific gravity +2.85 t/m[3] ) to sinks (Figure 3) with most of the heavier cobalt-manganese mineralisation expected to report to sinks. Sample fractions have been submitted for geochemical analysis to determine recoveries of cobalt, nickel and manganese.

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----- Start of picture text ----- Size Fraction Floats (-2.85sg) Heavies/Sinks (+2.85sg)+6.7mm-6.7 + 4.8mm-4.8 + 2.4mm-2.4mm + 1.18mm----- End of picture text -----

Figure 3 – Heavy Liquid Separation test products (floats and sinks fractions)

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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

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

For further information contact:

Mr. Peter Williams

CEO, Aus Tin Mining Limited Ph: 07 3303 0611

Karl Schlobohm

Company Secretary, Aus Tin Mining Limited 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