DALAROO METALS LTD — Capital/Financing Update 2022

Feb 6, 2022

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ASX ANNOUNCEMENT:
ASX : DAL 7 February 2022
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Maiden Aircore drilling commences at Cattady, Namban Project, WA

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Dalaroo Metals Ltd ( ASX: DAL , “Dalaroo” or “Company”) is pleased to announce the commencement of its maiden aircore (“AC”) drilling programme at the Cattady Anomaly, at its Namban Project located ~ 150km north-northeast of Perth and adjacent to the regional centre of Moora in Western Australia (Figure 1).

Dalaroo’s AC drilling programme is being undertaken to test areas of Pd and Au anomalism at Cattady. The Cattady Anomaly comprises two parallel platinum-group element (PGE)*zones with values of up to 97ppb Pd+Pt, 28ppb Au and peak anomalous values of 642 ppm Nickel (Ni) and 226 ppm Copper (Cu) outlined over a 1km strike length as announced in ASX Release dated 27 January 2022 (Figures 2 and 3). This emerging anomaly remains open along strike to the north, south and west with geochemical sampling completed over an area of only 1.5km X 1.0km.

In addition, to testing defined geochemical anomalies, the drilling programme will aim to obtain an understanding of the regolith profile and provide key geological constraints on the rock units that underlie the strong Pd and Au anomalism.

The processed AC results will be utilised to optimise the locations of a proposed Reverse Circulation drilling programme. Ground electromagnetics and or induced polarisation geophysical programmes are also proposed.

*PGE: Platinum Group Elements – palladium (Pd) and platinum (Pt)

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Figure 1: Namban Project Location, Cattady Anomaly and neighboring prospects map

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Figure 2: Namban Project – Cattady and Manning Pd and Au anomalies location and drone survey identified magnetic targets.

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Figure 3: Cattady Anomaly – 1[st] Vertical Derivative drone magnetic image with anomalous Pd (left) and Au (right) geochemical results.

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Figure 4: AC drill rig at Cattady Anomaly

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ENDS

For more Information:

Please visit our website for more information: www.dalaroometals.com.au Harjinder Kehal, Managing Director on +61 400 044 890

COMPETENT PERSON

The information in this report that relates to Exploration results is based on information compiled by Dalaroo Metals Ltd and reviewed by Mr Harjinder Kehal who is the Managing Director of the Company and is a Registered Practicing Geologist and Member of the AusIMM and AIG. Mr Kehal has sufficient experience that is relevant to the style of mineralisation, the type of deposit under consideration and to the activities undertaken to qualify as a Competent person as defined in the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Kehal consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

FORWARD-LOOKING INFORMATION

This report may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning the planned exploration program and other statements that are not historical facts. When used in this report, the words "could", "plan", "estimate", "expect", "intend", "should" and similar expressions are forward-looking statements. Although Dalaroo believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.

CAUTIONARY NOTE

The statements and information contained in this report are not investment or financial product advice and are not intended to be used by persons in deciding to make an investment decision. In releasing this report, Dalaroo has not considered the objectives, financial position or requirements of any particular recipient. Accordingly, potential investors should obtain financial advice from a qualified financial advisor prior to making an investment decision.

Authorised for release to the ASX by the Board of Dalaroo Metals Ltd.

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About the Namban Project

Namban comprises an under explored ground package totalling 437km[2] located in the mid-north part of the wheatbelt region, deemed by Dalaroo to be prospective for magmatic intrusion related Ni-Cu-PGE deposits. Project tenements cover a strike distance of 60 km, adjacent to the crustal-scale Darling Fault, on the western margin of the Archaean Yilgarn Craton. The Company has a 100% controlling interest comprising six tenements extending from the townships of Moora in the south to Three Springs in the north (Figure 5).

No modern systematic exploration has been undertaken over Namban Project of the Archaean age Jimperding Metamporhic Belt prior to the very recent work by Dalaroo.

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Figure 5 : Namban Project tenements location map.

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