GOLDARC RESOURCES LIMITED — Capital/Financing Update 2011

Jun 30, 2011

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ASX AND MEDIA RELEASE MADAGASCAR GOLD PROJECT TRIAL MINING PIT PROGRESS

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etres.
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Friday 1 July 2011

Torian Resour c es announc e s today the extension o f its trial mi n ing pit to a depth of 4 m etres.

Torian’s local M adagascan contractor, Ambol SAR L has compl e ted the init i al stage of t he pit cons t ruction as s e en in the photo below. The pit is 150 me t res long by 26 metres w ide. The target gold b e aring quart z vein lies al o ng th e bottom at various wid t hs.

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The joint v enture’s M alagasy g eologists are supervising t h e collecti o n of sam p les along the b o ttom of the pit for furth e r analysis.

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The pit is desi g ned to be e x tended to a depth of 1 5 to 18 metres wi t h several small pits al o ng the qu a rtz vein to 20 me t res. Compl e tion of the initial pit is d ue by mid‐August.

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T o rian is sup e rvising the formation o f the stock p ile comprised of quartz vei n material and the ‘ h alo ef f ect’ materi a l 1.5 metre s either sid e of the vei n to ca p ture any g o ld contain e d in the su r rounding r o ck. The testing o f samples f r om the va r ious parts has been arrange d with ALS laboratorie s in Perth, a nd re s ults will be available b y the end o f July. Further re s ults will be c ontinuous o ver the foll o wing mont h s.

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T h e company intends co m mencing pr o cessing of p art of the stockpile within 3 months usi n g a small t est pl a nt at a rate of 3 ton n es per ho u r, producing a concentrate which will require further refining.

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W
before the en
(Left) Vatovorona trial mining pit excavated to a depth of
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W e expect to be refining c oncentrate from the plant before the en d of the year .

(Left) Vatovorona trial mining pit excavated to a depth of 4 metres with survey lines installed showing gold vein sampling locations

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Yours faithfull y ,

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Scott Enderby, Company Secretary

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