GOLDARC RESOURCES LIMITED — Capital/Financing Update 2011

Sep 13, 2011

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ASX AND MEDIA RELEASE

STAGE 1 COMPLETED AT VATOVORONA GOLD PROJECT

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Torian Resour
of the project
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2
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Wednesday 14th September 2011

Torian Resour c es announ c es today its joint ventu r e in Madag a scar has fo r mally resol v ed to proc e ed to Stage 2 of the project a nd has ack n owledged t h e successf u l completio n of Stage 1.

The budget f o r the perio d to the en d of Stage 2 is US$3 m illion, of w h ich Torian’ s contributi o n is US$2. 2 5 million. The r e cently ann o unced funding from La Jolla provid e s the company with su f ficient funds to comple t e th e company’ s capital contribution to the joint venture. T h is funding also provid e s for Torian’s additional re q uirements i ncluding specialized ge o logical staf f on the ground in Mad a gascar to supervise an d oversee t h e pr o gram on b e half of Tori a n.

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re
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This program
compliant res
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C
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This program presents a n unprecedented oppor t unity for Torian Resources as we seek to pr o duce a JO R C compliant res o urce calcul a tion on the V atovorona gold field.

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The aims of St a ge 2 are;

1. Produce a resource calculation based on a drilling program of approximately 12,000 metres over the next 12 months. Our target is to complete this pr o gram on or about Sept e mber 2012 w hich will allow sufficie n t time bef o re the ex p iration of the year to complete t he resourc e calculatio n and required resour c e modeling ; and

2. Commence the production of concentrate for refining. A small processing plant w ill be locat e d on site a n d will test process the t a rget material we are c u rrently coll e cting. It is i n tended this processing w ill take pla c e througho u t 2012. A n extension t o the curre n t pit is pla n ned to con t inue provid i ng feed to t his test pla n t through t h is period. The test pr o cessing pro g ram will a s sist in the refinement o f our production syste m s for applic a tion in the design of a planned lar g er scale pl a nt. During this period t he joint ve n ture will al s o address t h e usual se c urity concerns associat e d with the transportation of high value prod u ct. The joi n t venture i s currently planning to r e fine the Vat o vorona co n centrate in S outh Africa.

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Torian Resour
partner, Varu
For further inf
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Torian Resour c es takes pl e asure in ac k nowledging the very important role and associ a tion with it s joint ventu r e partner, Varu n Madagascar.

For further inf o rmation co n tact:

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Sc
E
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7
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Sc o tt Enderby on Phone (02) 9247 227 7

E m ail: info@t o rianresourc e s.com

Yours faithfull y ,

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Scott Enderby, Company Secretary

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