GOLDARC RESOURCES LIMITED — Board/Management Information 2015

Dec 8, 2015

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ASX RELEASE

9 December 2015

Torian Strengthens Board & Management For Future Growth

Highlights:

• Torian has completed Board changes which will see Mr Nathan Taylor resign as a director of the Board and appointed Chairman of the newly constructed Advisory Board.

• Ms Elissa Hansen has been appointed Non-Executive Director and Company Secretary.

• Mr Mark Studd has resigned as the Company Secretary.

• The management team has been strengthened by several key appointments.

• Torian is awaiting the results of over 500 drill holes from its Zuleika JV project which will be announced in the near future.

• Torian’s technical team are assessing the drill results received to date and are planning Phase two of its extensive drilling campaign.

Introduction:

Torian Resources Ltd ( ASX:TNR ) is pleased to announce that it has completed a strengthening of the Board and an increase to its senior management team and has now established an Advisory Board.

These changes were designed to strengthen the skills and capabilities of the Company’s senior personnel whilst also laying a platform for growth, independence and improved governance.

Torian’s Managing Director, Matthew Sullivan, commented:

“Torian is very pleased with these recent changes and wishes to thank all staff both past and present for their commitment to the Company. The Company is entering an exciting phase in its development and these changes provide the skills and experience required to navigate our exciting future.”

Importantly, Torian prides itself as an equal opportunity employer. These changes ensure that the Company has diversified experience, age, views and gender within its ranks. We are also pleased to announce that our Board and senior management team includes a significant number of highly skilled

ABN: 72 002 261 565

Unit G4, 49 Melville Parade South Perth WA 6151 Phone +61 8 6216 0424 Fax +61 8 6216 0425 Kalgoorlie Office phone/fax: +61 8 9093 4818 www.torianresources.com.au

female members, who have been invaluable to the Company thus far.

These changes also deliver on Torian’s key objective of being a highly active low cost explorer. Torian’s decision to appoint an independent Advisory Board allows the Company to gain valuable skills which will aid in its development whilst minimising the costs associated with attracting a highly skilled and successful management team.

These changes also add further independence to the Board of Torian and strengthen the company’s compliance and corporate governance framework.

Some background on the new appointments has been provided below.

BOARD APPOINTMENT

Ms Elissa Hansen

Independent Non-Executive Director and Company Secretary

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• Over 15 years’ experience advising boards and management on corporate governance, compliance, investor relations and other corporate related issues.

• A Chartered Secretary who brings best practice governance advice, ensuring compliance with the Listing Rules, Corporations Act and other relevant legislation.

• Director and Company Secretary of a number of public, listed and private companies.

• B.Comm, Grad Dip Applied Corporate Governance, GAICD and AGIA.

ADVISORY BOARD MEMBERS

Mr Nathan Taylor

Chairman – Advisory Board

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• Significant M&A and capital markets experience having worked on numerous domestic and cross border transactions.

• Former head of M&A at BBY Limited and head of capital markets at StoneBridge Group.

• Non-Executive Director of Stonewall Resources Ltd and Mandalong Resources Ltd.

Ms Kerry Stevenson

Advisory Board Member

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• Over 14 years’ experience in the Australian resources sector, specialising in connecting companies with the investment community.

• Excellent skills and knowledge of marketing to both retail and business sector clients.

• Member of the AICD with a Business Management Degree from University of Technology Sydney.

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Senior Management Team

Mr Barry Keown

General Manager – Business Development

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• Director of Australian Gold Consolidated Pty Ltd which is focused on the acquisition of tier-one gold assets in Australia and overseas.

• Previously Managing Director of a major multinational software company.

• Held numerous senior sales and business development roles for a number of global companies.

• Tertiary qualifications include an LL.B and MBA.

Ms Lyndal Money

General Manager – Exploration

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• Over 15 years’ experience in mining operations and exploration in the Kalgoorlie region including extensive experience working along the Zuleika Shear.

• Her experience covers the exploration of gold within numerous geological settings using many different exploration techniques and methodologies.

• Worked on a broad range of projects including exploration, mine and resource geology at numerous gold deposits throughout Australia.

Mr Mark Borman

General Manager - Land

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• Over 25 years’ experience as a professional land manager with 17 years in the Department of Minerals and Energy in Western Australia.

• Extensive industry experience that includes the role of Land Manager for several publicly listed and private companies.

• Managed nearly 5,000 mining titles across Australia and over 120 Joint Venture or Sale type agreements.

• Extensive knowledge and familiarity of the practical and legal issues involved in land management.

Mr Iain Herbert

General Manager – Corporate Development

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• Over 35 years’ experience as a company director and has held many senior management positions.

• Extensive experience covering a broad range of financial matters including: money market and foreign exchange, insurance - direct and reinsurance and third party administration, SAAS and enterprise level management software.

• Tertiary qualifications include BA, Grad Dip App Finance and Investments and an MBus (Finance). Iain is also Fellow of FINSIA.

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Matthew Sullivan Comments:

“The new appointments provide Torian with the skills and expertise we require to take this company to the next level. They strengthen our independence and corporate governance functions which will provided confidence to new and existing investors. They also add to the strong on ground presence that we believe is necessary to achieve our business goals.”

For further information, please contact Elissa Hansen (Torian’s Non-Executive Director and Company Secretary) on (08) 6216 0424.

Yours sincerely,

Matthew Sullivan

Managing Director Torian Resources Ltd

About Torian:

Torian Resources Ltd ( ASX:TNR ) is an Australian gold exploration and development company. The company has three advanced projects located in the Goldfields region of Western Australia.

Torian has recently entered into a $5m Joint Venture over the Zuleika project which is located along the world class Zuleika Shear. The projects lie north and partly along strike of several major gold deposits including Northern Star Resources (ASX:NST), Tribune Resources (ASX:TBR) and Rand Mining’s (ASX:RND) 7Moz East Kundana Joint Venture (EKJV) and Evolution Mining (ASX:EVN) Frogs Legs and White Foil deposits.

Since May 2015, Torian has increased its landholding by approximately 60% in this region via five separate acquisitions. The total land position at the Zuleika JV is now approximately 184km², making Torian the third largest landholder in this region.

Torian has commenced an aggressive four phase exploration program that is targeting the Zuleika Shear and intends to further consolidate ground in this highly prospective region.

Torian’s exploration team has an enviable track record of exploration success in this region including East Kundana (3.5 Moz) directly south of Torian’s Zuleika JV. This regional exploration success brings unique insight which the board believes will yield results.

Torian is commencing an exciting phase in its development and we look forward to updating the market on our progress in due course.

www.torianresources.com.au

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