GOLDARC RESOURCES LIMITED — Capital/Financing Update 2015

Sep 17, 2015

18 September 2015

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ASX RELEASE

DRILLING COMMENCES AT TORIAN’S ZULEIKA JV PROJECT

Highlights:

• RAB drilling has commenced at Torian’s Zuleika JV Project.

• The RAB program is to comprise 15,000m of reconnaissance drilling.

• Additional 1,000m RC program expected to commence next week.

• Drilling will test a 5km strike length of the interpreted Zuleika Shear.

• Torian’s drill targets have been developed by an extensive database of historical drilling which was created from publically available information.

Torian Resources Limited ( Torian or Company )( ASX:TNR ) is pleased to announce that a RAB drill rig has arrived at the Company’s Zuleika Joint Venture (JV) Project in the Goldfields region of Western Australia. Drilling commenced yesterday afternoon.

As previously announced, the large drilling campaign will comprise approximately 15,000m of reconnaissance angled RAB holes drilled to bedrock along 5km of the interpreted Zuleika Shear and associated structures. Torian is encouraged by previous wide spaced (800m by 100m) shallow drilling in this target zone, which has intersected black shales and other prospective lithologies with anomalous gold and arsenic values.

Torian’s drill targets have been defined by geophysical and geological information generated by an extensive in-house database. This database was created from publicly available exploration data from the WA Geological Survey. The Company, through interpretation of the 3D structural model and underlying data, has identified numerous strategic targets which will be tested by the current RAB drilling.

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.torainresources.com.au

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Figure 1: RAB rig drilling at Torian's Zuleika Project.

In addition to the RAB drilling, the Company will complete approximately 1,000m of RC drilling which is designed to confirm anomalous historic RAB and Aircore intersections. The RC drill rig is mobilising to site later this week, with drilling expected to commence early next week.

Matthew Sullivan, MD of Torian, comments:

“A significant amount of work has been achieved to get the Company to this point. In a short period, Torian has entered into the JV over the Zuleika project, completed five acquisitions in the region and has now commenced its first drilling program. This is a significant milestone for Torian and its shareholders and testament to our belief that Torian has a very bright future”.

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Project Location Map:

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Figure 2: Torian's Zuleika JV Project and the location of the planned drill program (red circle).

Next Step

The Company is expecting results from its current drilling program within 4-6 weeks. Additional to this, the Company is continuing discussions with third parties regarding potential acquisitions, however, at this stage no formal agreements have been executed.

For further information please contact:

Mark Studd

Company Secretary 02 9290 9606

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About Torian:

Torian Resources Ltd 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 Project lies north and partly along strike of several major gold deposits including Northern Star (ASX:NST), Tribune Resources (ASX:TBR) and Rand Mining’s (ASX:RND) 7Moz East Kundana Joint Venture (EKJV).

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 191km², making Torian the third largest landholder in this highly sought after region.

Torian has commenced a large 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 which includes a number of multi-million ounce gold discoveries in this region. Torian is commencing an exciting phase in its development and we look forward to updating the market on our progress in due course.

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