CLARA RESOURCES AUSTRALIA LTD — Capital/Financing Update 2020

Jun 1, 2020

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ASX Announcement

Aus Tin Mining Limited (ASX:ANW)

2 June 2020

Update Regarding Proposed Sale of Granville Tin Mine

On 23 April 2020, the Directors of Aus Tin Mining Limited ( Aus Tin Mining or the Company ) announced that the Company had signed a Heads of Agreement with third‐party company Ten Mining Pty Ltd ( Ten Mining ) for the effective disposal of the Granville Tin Mine ( Granville ) on the west coast of Tasmania.

The Heads of Agreement executed by the parties provided for Ten Mining to acquire all the shares in Ten Star Mining Pty Ltd (100 percent subsidiary of Aus Tin Mining that owns Granville) by 31 May 2020 and as consideration pay Aus Tin Mining $365,000 and a further $635,000 for existing environmental bonding commitments.

Ten Mining has requested, and Aus Tin Mining has agreed to, a 30‐day extension to the Heads of Agreement, with revised settlement now scheduled for 2 July 2020.

This announcement is authorised by the Board of Directors

Karl 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:

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 owns 100 percent of 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 subsequent test work and exploration activities on site have revealed potential credits for copper, silver, tungsten, molybdenum, lithium and rubidium. In 2014 a Pre‐Feasibility Study was completed that demonstrated the technical and economic viability of Taronga Tin Project. In May 2019 regulatory approval was received for a 410,000 tonne trial mine and pilot plant but commencement has been deferred due to prevailing drought conditions. 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 April 2020, the Company announced a farm=in transaction over three exploration licences prospective for copper and gold located within the Lachlan Fold Belt in NSW. The Company is also actively exploring for cobalt at its Mt Cobalt project west of Gympie (Qld). 2018 drilling has returned high grades for an enriched cobalt‐manganese oxide zone at Mt Cobalt. 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.

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

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 .

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