GOLDARC RESOURCES LIMITED — Capital/Financing Update 2016

Jul 6, 2016

ASX RELEASE

7 JULY 2016

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CLEANSING STATEMENT

Torian Resources Limited ( ASX:TNR ) ( Torian or the Company ) is pleased to announce that it has completed the issue and allotment of 16,351,353 fully paid ordinary shares at an issue price of $0.185 per share to raise $3,025,000 in working capital for the planned exploration program and to further the Company’s growth initiatives as detailed in the announcement to ASX dated 29 June 2016. A further $275,000 is expected to be received in the next few days.

Torian has also issued and allotted 254,411 new fully paid ordinary shares at an issue price of $0.27 per share in part payment of an outstanding liability of the Company’s for consulting services.

An Appendix 3B apply for quotation of the Shares was lodged today, 7 July 2016.

The issue was made without disclosure to investors under Part 6D.2 of the Corporations Act.

This Notice is provided for the purpose of section 708A(5)(e) of the Corporations Act. Torian confirms that, as at the day of this Notice:

• a. it has complied with:

• i. the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and,

• ii. Section 674 of the Corporations Act; and

• b. it is not there is no information that is ‘excluded information’ within the meaning of sections 708A(7) and 708A(8) of the Act.

For further information, please contact:

Matthew Sullivan Managing Director (08) 6216 0424 info@torianresources.com.au

ABN: 72 002 261 565 Unit G4, 49 Melville Parade, South Perth, 6151 Australia Phone +61 8 6216 0424 Fax +61 8 6216 0425 Kalgoorlie Office phone/fax: +61 8 9093 4818

info@torianresources.com.au www.torianresources.com.au

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About Torian:

Torian Resources Ltd ( ASX:TNR ) is a highly active Australian gold company that is focused on developing the gold mines of tomorrow. The Company has four advanced projects located in the Goldfields region of Western Australia.

Torian’s flagship Project, the Zuleika JV, lies north and partly along strike of several major gold mines including Northern Star (ASX:NST), Tribune Resources (ASX:TBR) and Rand Mining’s (ASX:RND) 7Moz East Kundana Joint Venture and Evolution’s (ASX:EVN) Frogs Legs and White Foil operations.

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Figure 1: Map showing Torian landholding in relation to other ASX listed companies.

Since May 2015, Torian has increased its landholding at the Zuleika Project by approximately 75% via seven separate acquisitions. Torian is now the second largest landholder in this highly sought after region and is focused on fast tracking its development.

Torian has commenced a large, 4 Phase, exploration program that is targeting the Zuleika Shear and intends to further consolidate ground in this region.

Torian is also developing the high grade Mt Stirling Project which has an outcropping inferred resource located 40km North West of Leonora. Following a successful infill drilling program in December, Torian is currently completing a scoping study on the project to assess it as a standalone mining operation.

Torian’s exploration team has an enviable track record of discovering and developing a number of multi-million-ounce gold mines in this region. Torian is commencing an exciting phase in its development, and we look forward to updating the market as things progress.

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