GOLDARC RESOURCES LIMITED — Capital/Financing Update 2014

Apr 7, 2014

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ASX RELEASE

8 April 2014

UPDATE ON FINANCIAL POSITION OF THE COMPANY

On 28 February 2013 Torian Resources NL (“Torian”) entered into a secured loan with a group of sophisticated investors for the amount of $250,000. The term of the secured loan was a period of 12 months, which concluded on 28 February 2014.

The company has been in negotiations with the secured creditors since expiry of the facility and is pleased to announce it has reached an agreement for $255,311.68 of the loan, representing face value and some accrued interest, to be converted to Torian shares at a price of $0.002 per share. The price represents the prevailing market and average traded price of Torian shares in the weeks following the loan expiry. The balance of accrued interest remains repayable in cash.

In addition, the company has agreed with a number of unsecured creditors to convert their debt to Torian shares on the same terms. All conversions are subject to shareholder approval at the upcoming Annual General Meeting expected to be held in late May.

Ian Johns, Director of Torian Resources said:

“The agreement by both secured and unsecured creditors of the company to convert their debt to equity is clear evidence of the strong support the company has earned over the past 12 months by undertaking a significant amount of work to stabilise the company’s financial position. Torian’s balance sheet is now significantly stronger than it has been for a number of years enabling us to focus our attention on securing a new project to enhance value for all shareholders.”

For further information please call 02 9923 1786.

ABN: 72 002 261 565 Unit 12 263-269 Alfred Street North Sydney NSW 2060 Australia

Phone +61 2 9923 1786 Fax +61 2 9923 1371 www.torianresources.com.au info@torianresources.com.au