GOLDARC RESOURCES LIMITED — Capital/Financing Update 2016

Apr 3, 2016

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ASX RELEASE

4 April 2016

TORIAN COMPLETES STRATEGIC PROJECT ACQUISITION

Highlights

• Torian acquires the Bardoc Project in its eighth acquisition in 12 months

• The Project lies 3km north and along strike of Excelsior’s 1.4Moz Kalgoorlie North project

• The Project also lies 3km south and along strike of Aphrodite’s 1.4Moz Aphrodite project

• The Project consists of 38.6km² of tenure acquired by Torian and its JV Partner Cascade

• The latest acquisition demonstrates Torian’s commitment to growing its portfolio of gold projects in the Goldfields region of WA

Torian Resources Ltd ( ASX:TNR ) ( Torian or Company ) is pleased to announce that it has acquired an exciting new project called Bardoc, some 40km north of Kalgoorlie. This project covers approximately 38.6km² and is owned by Torian and its major shareholder and Joint Venture Partner Cascade Resources Ltd ( Cascade ).

The Project lies approximately 3km north and along strike of Excelsior Gold Ltd’s ( ASX:EXG ) 1.4Moz Kalgoorlie North project and approximately 3km south and along strike of Aphrodite Gold Ltd’s ( ASX:AQQ ) 1.4Moz Aphrodite project.

The Bardoc Project is adjacent to major infrastructure that is owned by a number of third parties including the Goldfields highway and the Goldfields gas pipeline. The Project is also approximately 16km north of Zijin’s Mining’s (HK:2899) 3Mtpa Paddington processing plant. We note that the Paddington Mill is actively securing mill feed from various sources.

Torian acquired approximately 8.4km² of the total project area whilst Cascade acquired approximately 30.2km². The two companies have held preliminary discussions relating to these tenements which, if successful, would bring the total project size to 38.6km². At this stage all tenements are held under application.

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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Figure 1: A peg used to mark out tenement boundaries at one of Torian’s Goldfields projects.

This recent acquisition is the Company’s eighth over the past 12 months making it one of the most active resource companies in the Goldfields region. The Bardoc Project was acquired on an opportunistic basis and is complementary with the Company’s other suite of projects. This recent acquisition is the Company’s fourth advanced project in this region.

Acquisition Strategy:

Torian is focused on acquiring advanced projects that it believes can be fast tracked to production. Torian’s belief is that the greatest value comes from taking an advanced staged exploration project and fast tracking it into production, thereby adding value for shareholders and early cash flow for the Company.

Torian’s growing portfolio of assets are all located in the Goldfields region of Western Australia. This region has produced 146.9Moz up until 2014. It has extensive infrastructure which includes four operational gold processing plants with excess capacity. This provides Torian with a low capex advantage which will reduce the Company’s capital requirements as well as allow it to fast track these projects into production should it be warranted.

As can be seen in Figure 2 below, Torian’s Kalgoorlie based assets are in close proximity to substantial infrastructure including road, rail, processing plants and an abundant and highly skilled workforce in Kalgoorlie.

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Figure 2: Map showing Torian’s new Bardoc Project in relation to key mines, infrastructure and other assets.

Geology and Mineralisation:

The Bardoc Project covers approximately 12km of strike along the Bardoc Tectonic Zone (BTZ). This Zone contains a variably deformed Archaean sequence of all rock types including mafic, ultramafic, and felsic volcanic rocks, sedimentary rocks, and various felsic to intermediate porphyry intrusions.

The sequence is strongly attenuated as a result of being deformed between two large granitoids.

Numerous shear zones exist that are variably mineralised with gold. In addition, there are many mineralised cross structures. The region is also host to significant sulphide and laterite nickel mineralisation.

There are several multi-million ounce gold deposits along strike, such as Paddington, Mount Pleasant and Aphrodite. Mineralisation related to the major cross structures such as the Black Flag Fault include Mount Pleasant (~3Mozs) and in the Kundana (~5Mozs) area to the south west.

Excelsior Gold are actively mining at Bardoc, some 1km south of the southern boundary of the Project. This ore is being trucked to the Paddington Mill for processing.

The Bardoc area has seen previous exploration by various groups over the last 25 years including Aberfoyle, Goldfields, Barrick and others. These groups have generated significant exploration data. Digital data compilation of historic exploration drilling at Bardoc has been ongoing for some time. The database currently contains 3,325 holes for 123,166m, with approximately 41,000 assay results. The current estimate is that this is no more than 20% complete.

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Best results so far from this data compilation include:

• SCMC012 9m @ 1.73g/t Au from 81m (6648457N/335177E); and

• HBNB001 4m @ 2.00g/t Au from 48m (6650037N/333376E).

More information will be released once a full technical evaluation has been completed.

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Figure 3: Location of Torian’s New Bardoc Project, regional geology and major deposits.

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Torian’s MD, Matthew Sullivan, comments:

“This latest acquisition is a great addition to Torian’s portfolio of exciting projects. We don’t just pick up land for the sake of it. We are looking for areas that we believe can turn into a gold mine within a reasonably short period. Torian is a gold company that is moving fast and we intend to continue to acquire opportunistic acquisitions as the arise”.

What’s Next:

Following a recent successful 51-hole drill program, Torian is currently undertaking a scoping study at its high grade Mt Stirling project. The Company has also planned its next drilling program at the project which will include step out drilling to determine the overall size of the existing high grade resource. The Company has received WA Mines Department approval for this program.

The Company is also awaiting further drill results from its Zuleika JV project where it has completed almost 40,000m of RAB drilling in recent months.

Torian continues discussions with a number of parties regarding further acquisitions in this region.

The Company has recently updated its website which will shortly include an interview with the Company’s MD Matthew Sullivan. The interview covers many topics including events surrounding Matthew’s discovery of Kanowna Bell (6.4Moz) and East Kundana (4.5Moz) as well as the Company’s strategy, recent progress and what to look forward to.

Tenement Details:

The current tenement schedule at Bardoc for both Cascade and Torian is listed below.

Tenement
Type M.F. Number	Status	Area km²	Application Date	Applicant
P 24 5003	Application	1.11	10/28/2015	Cascade Resources Limited
P 24 5004	Application	1.01	10/28/2015	Cascade Resources Limited
P 24 5005	Application	1.02	10/28/2015	Cascade Resources Limited
P 24 5006	Application	1.15	10/28/2015	Cascade Resources Limited
P 24 5007	Application	1.22	10/28/2015	Cascade Resources Limited
P 24 5008	Application	1.14	10/28/2015	Cascade Resources Limited
P 24 5009	Application	0.23	10/28/2015	Cascade Resources Limited
P 24 5021	Application	1.22	11/27/2015	Cascade Resources Limited
P 24 5023	Application	1.19	12/24/2015	Cascade Resources Limited
P 24 5024	Application	1.12	12/24/2015	Cascade Resources Limited
P 24 5025	Application	1.10	12/24/2015	Cascade Resources Limited
P 24 5026	Application	1.21	12/24/2015	Cascade Resources Limited
P 24 5027	Application	1.21	12/24/2015	Cascade Resources Limited
P 24 5028	Application	1.09	12/24/2015	Cascade Resources Limited
P 24 5029	Application	1.17	12/24/2015	Cascade Resources Limited
P 24 5030	Application	1.06	12/24/2015	Cascade Resources Limited
P 24 5031	Application	1.09	12/24/2015	Cascade Resources Limited
P 24 5032	Application	1.31	12/24/2015	Cascade Resources Limited
P 24 5033	Application	1.51	12/24/2015	Cascade Resources Limited
P 24 5034	Application	1.13	12/24/2015	Cascade Resources Limited
P 24 5035	Application	1.48	12/24/2015	Cascade Resources Limited
P 24 5082	Application	1.11	3/9/2016	Cascade Resources Limited

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P 24 5083	Application	1.10	3/9/2016	Cascade Resources Limited
P 24 5084	Application	1.88	3/9/2016	Cascade Resources Limited
P 24 5085	Application	1.12	3/9/2016	Cascade Resources Limited
P 24 5086	Application	1.23	3/9/2016	Cascade Resources Limited
P 24 5089	Application	1.51	3/14/2016	Torian Resources Limited
P 24 5090	Application	1.46	3/14/2016	Torian Resources Limited
P 24 5091	Application	1.64	3/14/2016	Torian Resources Limited
P 24 5092	Application	1.83	3/14/2016	Torian Resources Limited
P 24 5093	Application	1.96	3/14/2016	Torian Resources Limited

Table 1: Table showing the new tenements acquired by Torian and its JV partner Cascade.

For further information, please contact:

Matthew Sullivan Managing Director

(08) 6216 0424 info@torianresources.com.au

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.

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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