CLARA RESOURCES AUSTRALIA LTD — Capital/Financing Update 2020

Apr 23, 2020

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ASX Announcement

Aus Tin Mining Limited (ASX:ANW)

24 April 2020

Summary of Lachlan Fold Belt Farm‐in Assets

Further to the ASX announcement dated 16 April 2020 Aus Tin Mining Limited provides the following additional information on the Lachlan Copper project areas.

This announcement is authorised by the Board of Directors

Karl Schlobohm

Company Secretary

Email: info@austinmining.com.au

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.

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

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Summary of Lachlan Fold Belt Farm-In Assets

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Cautionary Statement
CAUTIONARY STATEMENT
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Forward Looking Statement

This presentation 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.

Material Assumption

The material assumptions which support the Taronga Ore Reserve Estimate, Production Targets and the forecast financial information derived from the Production Targets are disclosed in the body of the ASX announcement referred to in this Presentation, with the exception of commercially sensitive information.

Competent Persons 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.

The information in this Announcement that relates to Mineral Resources is based on information extracted from the report entitled “Maiden JORC Resource Estimated for the Taronga Tin Project” created on 26th August 2013 and is available to view on www.austinmining.com.au Aus Tin Mining confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

In the information in this Announcement that relates to Ore Reserves is based on information extracted from the report entitled “Pre-Feasibility Advances the Taronga Tin Project” created on 7th April 2014 and is available to view on www.austinmining.com.au . Aus Tin Mining confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

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Lachlan Fold Belt delivering exploration results
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Recent Examples of exploration success in the Lachlan Fold Belt

Alkane Resources

• (ASX: ALK)

Significant high grade gold copper mineralisation at Boda (23/3/20) reported results include 1167m @ 0.55g/t gold, 0.25% copper from 75m Drilling continues at Boda

Sky Metals

Outstanding Gold results at the Cullarin Project NSW (10/2/20)

• (ASX: SKY)

reported results include 93m @ 4.24g/t gold from 56m

Geophysics and sampling historic underway, drilling recommenced late April

Magmatic Resources

• (ASX:MAG)

MIMDAS Geophysics defines large “Cadia East – Style” Cu-Au porphyry (29/1/20 ) application of modern exploration tools to previously explored areas Drilling commenced at Wellington

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Location, Location, Location
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• Farm-in on three exploration licences located within eastern Lachlan Fold Belt

• −Targeting Cu-Au porphyry within Ordovician host rocks (Molong Volcanic Belt ( MVB ) / Macquarie Arc) which host Cadia-Ridgeway (Cu-Au)

• −Further potential for magmatic copper deposits, McPhillamys style gold deposits and VHMS base metal deposits within Siluro-Devonian host rocks

• −Spend initial $0.5M to earn 51 percent (2 years) and subsequent $5.0M to earn additional percent (5 years)

• Areas under explored and no exploration undertaken since the 1970s (JODODEX & Geopeko)

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Simplified model for Cu-Au Porphyry and indicators potentially present
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Gossan outcrop
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General Setting of porphyry copper and associated deposit types (from USGS Scientific Investigations report 2010-5070-B

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Narrallen (EL8758)
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Targeting Cu-Au porphyry in proven host:

• Located southern end of MVB (Ordovician Macquarie Arc) that hosts Cadia/Ridgeway

• Numerous old workings (Cu/Pb/Zn) exhibit potential spatial zonation of mineralisation to be further investigated

• Stockworks repeatedly noted in Ordovician hosted mineral occurrences

Proposed Program:

• Regional geochemical survey / field mapping

• Regional geophysical surveys (magnetic, radiometric)

• Targeted geophysics (IP)

• Drilling

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Narrallen –Favourable geology in proven porphyry host
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Ordovician Host
Molong Volcanics /
Macquarie Arc
8km Target Zone
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Narrallen – encouraging surface geology
Largely undercover –
potential for discovery in mineral occurrences
underexplored areas
within outcropping
Ordovician host
Potential metal zoning
evident in mineral
occurrences
8km Target Zone
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Narrallen – untested magnetic anomaly
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8km Target Zone
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Magnetic [ high in favourable host] anomaly (Magneti c high to be an we call it further investigated by that??) adjacent to intrusion (intrusion is further geophysics to youa n omalyg to fit into contemporary porphyry model)

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Koorawatha (EL 8740)
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Targeting VHMS and magmatic copper and gold

• Koorawatha prospect - coincident anomalous soil geochemistry and IP results within a 7km NW-SE trend

• Magmatic copper evident in historic drill core drilled on coincident anomalies plus reported copper:

• −6m at 0.15% Cu, 0.2% Pb, 1.15% Zn from 194m[(JODEX ] KD1) (GS1971/387)

Proposed Program:

• Reprocess historic geochem data

• Targeted geochemical / mapping / geophysics (IP)

• Drilling

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Koorawatha – historic coincident geochem / conductivity trend over 7km
Historic drilling (KD1) intercepted
magmatic vein breccias and
chalcopyrite
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Murringo (EL 8757)
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Targeting VHMS and magmatic copper and gold

• Mineral occurrences hosted in Siluro-Devonian volcanics and volcanoclastics

• Two areas interpreted hydrothermal magnetite skarn horizon (>10km) based on geophysics & drilling

• Reported occurrences of industrial mineral (magnetite gossan, Cu occurrences & marble) possible indicators of skarn and Cu related mineral system.

Proposed Program:

• Target geochemical survey / field mapping at gossan

• Regional geophysical surveys (magnetic, radiometric) across interpreted intrusion

• Drilling

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Murringo – anomalous surface mineralisation
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Reported rock chips (Endeavour
18) include 1ppm Au/1200ppm Cu
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10km trend (interpreted but
unconfirmed skarn)
incorporating copper, iron and
Historic drilling (Endeavour 19)
industrial minerals with
disseminated sph-mag-cpy-py;
coincident magnetic high
Reported rock chips include
2700ppm Cu, 2,450ppm Pb, 170ppm Zn,
0.33ppm Au, 9ppm Ag
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Murringo (EL 8757)
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10km North-North West magnetic high coincident with potential skarn related mineral occurrences including Cu, marble and Fe- magnetite dominant occurrences

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