GOLDARC RESOURCES LIMITED — Capital/Financing Update 2016

Jan 13, 2016

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ASX RELEASE

14 JANUARY 2015

COMPLETION OF SALE OF COPETON ASSETS

Torian Resources Ltd ( ASX:TNR ) ( Torian or Company) advises that it has completed the sale of its Copeton Assets.

Torian Resources entered into a Purchase Agreement for the sale of its Copeton Assets to Aduro Diamonds Pty Ltd on 15 August 2014, amended on 20 August 2014 to Copeton Diamond Mines Pty Ltd.

On 16 December 2015, it received advice from the Department of Industry Resources and Energy that the Minister had approved the transfer of the Mining Leases 1058, 1059, 1083 and 1232 and Mineral Leases 5904 and 6153 (collectively the Copeton Assets) from Torian Resources to Copeton Diamond Mines Pty Ltd. The Company subsequently lodged signed applications for registration of the transfer of each tenement to Copeton Diamond Mines under the relevant Act.

Copeton Diamond Mines Pty Ltd has now replaced the bonds required by the Department and paid the Company $30,000, being the remaining 30% of the total purchase price of $100,000, in final settlement of the Purchase Agreement. The Company expects to receive bonds in the sum of $100,000 from the Department of Industry Resources & Energy shortly.

For further information please contact the Company on:

(08) 6216 0424

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.torianresources.com.au