GOLDARC RESOURCES LIMITED — Capital/Financing Update 2011

Jul 17, 2011

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ASX AND MEDIA RELEASE

MADAGASCAR GOLD PROJECT TRIAL MINING PIT PROGRESS

Monda y 18 July 20 1 1

Torian R esources a n nounces today the pro g ress of its t r ial mining pit, which ha s been completed to a d e pth of 8 m e tres. The co m pany is ple a sed to rep o rt that the p roject has p roceeded in a timely an d profession a l manner a n d on budg e t.

Torian g eologist M r Rhys Beva n has spent the past fo r tnight onsit e , supervisi n g the furth e r collection of samples from the target area of mineraliza t ion within t he pit. Fur t her sampl e s for fire a s saying hav e been sen t to Genaly s is in Johann e sburg and A LS in Perth. The results of the assa y ing are exp e cted to be available wit h in 4 weeks. Mr Bevan notes th a t the target mineralisation zone re m ained prominent throu g hout the pi t as it has been excavate d .

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Camp and Pit Workings Vatovorona July 2011
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The pit has been planned to extend to dep t h of 10 to 1 2 metres a n d completi o n of the ex c avation is anticipated b y the end of A ugust. The excavations are being u n dertaken b y the joint v e nture dedicated contra c tor, Ambol SARL.

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Rhys Bevan (Torian Resources exploration geologist) and local employed villager next to trial mining pit Torian h as a 35% interest in th e joint ventu r e company V arun Cluff International SARL whic h entitles th e company t o 35% of any gold pr o duced from the licence.

For fur t her information contac t :

Scott E n derby on P h one (02) 9 2 47 2277

Yours f a ithfully,

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Scott Enderby Company Secretary

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