GOLDARC RESOURCES LIMITED — Capital/Financing Update 2020

Dec 15, 2020

ASX / MEDIA ANNOUNCEMENT 16 December 2020

ABN: 72 002 261 565

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Initial Mt Stirling Results Confirm Significant Gold System Extension

Mt Stirling highlights:

• Results received from the first two drill holes from the Mt Stirling Phase 1 drill program confirm broad Au mineralisation and down-dip extension continuity (31 RC drillholes drilled for 5,767 metres)

• Intercepts include:

• 23m @ 1.08 g/t Au (from 22m MSRC037); inc 2m @ 3.14 g/t Au (from 23m)

• 21m @ 1.15 g/t Au (from 102m MSRC038); inc 6m @ 1.62 g/t Au (from 104m)

• Results have increased historical twinned drill hole grades by ~20% and will feed into the Mt Stirling Resource update on track for delivery in Q1 2021

• Initial results are significant for global grade, tonnage and cut-off considerations

• Previous drilling at Mt Stirling has intercepted (refer ASX release 9/6/20):

• 4m @ 8.84 g/t Au (from 188m MSRC025); inc 1m @ 33.10 g/t Au (from 189m)

• and 17m @ 1.66 g/t Au (from 235m) inc 3m @ 5.17 g/t Au (from 235m)

• and 1m @ 9.20 g/t Au (from 236m)

• 2m @ 48.00 g/t Au (from 107m MSRC001)

• 12m @ 4.74 g/t Au (from 16m SWC114); inc 4m @ 12.98 g/t Au (from 18m)

• and 2m @ 21.40 g/t Au (from 20m)

• Progress from Mt Stirling Phase 2 SE extension has confirmed continuity of shear zone mineralisation with assays pending

• Phase 2 drilling to test NW extension of the gold system (17 drill holes) to begin in Q1 2021

• Phase 3 drill program at Mt Stirling being planned (of combined RC and diamond drilling) to vector on plunge across the entire interpreted ~1,250m strike

• Phase 1 drill program at Mt Stirling Well has been completed with 18 RC drillholes drilled for 888 metres confirming and extending mineralisation with assays pending

• Encouraging carbonate and potassic alteration with molybdenum intercepted during Mt Stirling Well drill program

• Updated JORC resource estimate for Mt Stirling and Mt Stirling Well due in Q1 2021

• Mt Stirling Gold Camp sits within the prolific Leonora Gold district in the Eastern Goldfields, adjacent to RED 5’s 4Moz King of the Hills Mine & host to St Barbara’s 4.8Moz Gwalia Mine and Saracen’s 3.8Moz Thunderbox Mine

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E : info@torianresources.com.au Directors W : www.torianresources.com.au

104 Colin Street West Perth WA 6005 Page 1 of 21 T : +61 8 9420 8208 F : +61 8 9322 4130

Paul Summers, Executive Chairman Peretz Schapiro, Executive Director Dale Schultz, Non‐Executive Director Matthew Foy, Company Secretary

PO Box 191 West Perth WA 6872

Mt Stirling Gold Project - Drilling and Results update

Torian Resources Limited ( Torian or the Company ) is pleased to announce the results from the first two holes from Phase 1 of the Mt Stirling drill program which drilled 31 RC holes for 5,767 metres (Figures 2 and 3).

This phase confirmed and extended the Mt Stirling gold system over 480m strike, on 40m centre drill spacings.

The Mt Stirling gold system’s mineralised endowment includes wide shear zone gold-bearing zones, chlorite-quartz schist associated gold, high grade narrow vein lode(s), and porphyry footwall contact gold potential.

Multiple significant sulphide mineralisation intercepts, associated with pyrite and arsenopyrite (chloritic, silicified, carbonate and biotite alteration) have been intercepted on every section of the extensional drilling, with initial assays on section 1480N confirming broad Au mineralisation and down-dip extension continuity.

Analysis by the Photon Assay method (500g) have increased historical twinned drill hole grades (SWC127 40g FA and MSRC002 / Aqua Regia) by around 20% (refer ASX release 29/1/2020). (Table 1) These initial results are significant for global grade, tonnage and cut-off considerations.

Section N	Easting GDA4	Northing GDA 4	Hole ID		from	to (m)				Intercept
()	9	9		interval (m)	(m)		Au g/t (PAAU02)	Au g/t (FA 40g)	Au g/t (ICP21)
1480	311680	6834792	MSRC037	2	5	7	0.87			2m @ 0.87 g/t Au
				4	12	16	0.51			4m @ 0.51 g/t Au
				23	21	44	1.08			23m @ 1.08 g/t Au
			inc	2	22	24	3.14			2m @ 3.14 g/t Au
			and	2	34	36	2.07			2m @ 2.07 g/t Au
				2	50	52	1.38			2m @ 1.38 g/t Au
				1	50	51	2.10			1m @ 2.10 g/t Au
	311680	6834795	SWC127	2	5	7		0.77		2m @ 0.77 g/t Au
				1	20	21		1.70		1m @ 1.70 g/t Au
				21	26	47		0.84		21m @ 0.84 g/t Au
			inc	1	26	27		2.14		1m @ 2.14 g/t Au
			and	1	31	32		2.17		1m @ 2.17 g/t Au
	311724	6834819	MSRC038	21	101	122	1.15			21m @ 1.15 g/t Au
			inc	6	103	109	1.62			6m @ 1.62 g/t Au
			and	1	104	105	2.37			1m @ 2.37 g/t Au
	311729	6834813	MSRC002	29	114	143			0.88	29m @ 0.88 g/t Au

Table 1: Assay results of twinned historical drill holes on 1480N section. MSRC037 and MSRC038 are the most recent holes; SWC127 and MSRC002 are the historical holes

Phase 2 (Mt Stirling SE extension) is ahead of schedule with 10 of the 18 planned drill holes completed for 1,767m. (Figure 2). Structural target model could extend the Mt Stirling gold system a further 380m to the SE, where one of the key objectives of this phase is to test the interpreted Shear Zone position. This will be followed by a Phase 3 drill program (of combined RC and diamond drilling) which will vector on the plunge of the system across the entire interpreted 1,250m strike.

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A previously drilled, significant intercept 240m SE of the recently defined Phase 1 resource extension of 10m @ 2.34 g/t Au (from 33m in MSRC024) including 4m @ 5.30 g/t Au (from 33m) and 2m @ 7.60 g/t Au (from 35m) is proof of concept that Mt Stirling is a much larger mineralised-strike gold system than previously thought (refer ASX release 29/01/2020 & 07/12/2020).

A further previously announced intercept 460m SE of Phase 1 of 0.87 g/t Au (from 72m MSRC032) also aligns with the interpreted structural model and could defines the SE SZ extents, giving basis to the 1250m strike target (refer ASX release 1/07/2020).

Torian’s Executive Director Mr Peretz Schapiro said “These initial results continue to confirm our theory that Mt Stirling contains a much larger gold system than what has been previously thought. In addition to the confirmation of the extension of the gold system, the fact that we have increased the grade by 20% on historical drill holes that were used in the previous resource estimate, gives us great confidence that when our interim resource is completed in the first quarter of next year, we may see a significant upgrade to our tonnage and gold ounces.

2021 is shaping up to be an exciting year for our Company as we anticipate significant news flow over the coming weeks and months. We eagerly await the results from an additional 29 drillholes from phase one of the Mt Stirling program, in addition to results from 18 drillholes at Stirling Well, 21 exploratory drill holes from the greenfields at Diorite and the results from our Phase 2 drilling at Mt Stirling.”

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Figure 1: A regional map of the Mt Stirling Gold Project tenements showing the Stirling Block and the Diorite Block and the surrounding Red 5 (ASX:RED) tenements including the 4.1Moz King of the Hills gold mine

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Figure 2: Mt Stirling RC drilling campaign

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Figure 3: Mt Stirling Phase 1 – Maiden Resource Estimate bounds in red

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Figure 4: Mt Stirling 1640N Section showing Main Zone and Hanging Wall Zone Au mineralisation, and proposed Phase 3 deeper RC/DDH planned drilling.

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Mt Stirling Well - Drilling and Results update

The Company is pleased to announce completion of Phase 1 of the Mt Stirling Well extensional resource drill program with 18 RC drillholes drilled for 888 metres (Figure 6).

The Mt Stirling Well gold mineralisation is hosted by a flat, gently SW plunging mineralised system within a granite and multiple inflecting interpreted structures. With this maiden extensional phase of drilling, the Company is looking to expand the shallow current resource and vector to further extend the global resource, and understand a possible polymetallic or amenable molybdenum by-product

Mt Stirling Gold Project Interim Resources Updates

As had been previously announced, Torian has been prioritising processing the results from the Mt Stirling program as it has engaged resource estimate consultants to conduct an interim JORC resource upgrade, with the intention of expanding the current inferred resource estimate of 33.9koz at Mt Stirling and the 16.4koz inferred resource at Mt Stirling Well. The Company is expecting the Resource Estimate update during the first quarter of 2021.

The Mt Stirling maiden Inferred Resource Estimate (BMGS Dec 2018) included 26 historical shallow drill holes for a combined 727,021t @ 1.45 g/t Au for 33,893oz (Figure 5).

The Mt Stirling Phase 1 program provides an additional 31 drill holes, combined with a further 4 historical drill holes that were outside of the maiden Resource Estimate, for a combined 61 drill holes towards 2021 Q1 Resource Estimate upgrade (Table 2).

Table 3 : Mt Stirling Drill Collar Table

Tenement	Prospect	Hole ID	Type	East	North	RL	Az (mag)	Dip	Depth (m)
M37/1306	Mt Stirling	MSRC037	RC	311680	6834792	419.5	237	‐60	106
		MSRC038	RC	311724	6834819	420.0	236	‐60	198

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Figure 5 : Mt Stirling Phase 1 Long Section (viewed towards 240) Page 9 of 21 / 16 December 2020

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Figure 6: Map of the recently completed Mt Stirling Well RC Drilling campaign

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Figure 7: Stirling Well Cross Section

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Figure 8: Aerial photograph of Stirling Well with Mt Stirling in the background

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Table 2: Mt Stirling Significant intercepts (SWC results previously reported on 29/1/20)

Section (N)	Hole ID	from (m)	to (m)	interval (m)	Au g/t	Intercept (g/t Au)
1400	MSRC033					Assays pending
	MSRC027	107	111	4	0.76	4m@0.76
		117	118	1	0.69	1m@0.69
		121	123	2	0.75	2m@0.75
		151	156	5	0.51	5m@0.51
		203	204	1	1.45	1m@ 1.45
		211	212	1	0.55	1m@0.55
	MSRC028	77	78	1	0.64	1m@0.64
		119	120	1	2.16	1m@ 2.16
		206	213	7	0.73	7m@0.73
		225	227	2	0.83	2m@0.83
1440	MSRC034					Assays pending
	MSRC035					Assays pending
	MSRC036					Assays pending
1480	SWC125					NSI
	SWC126	0	19	19	1.25	19m@ 1.25
	inc	3	4	1	4.79	1m@ 4.79
		22	24	2	0.65	2m@0.65
	MSRC037	5	7	2	0.87	2m@0.87
		12	16	4	0.51	4m@0.51
		21	44	23	1.08	23m@ 1.08
	inc	22	24	2	3.14	2m@ 3.14
	and	34	36	2	2.07	2m@ 2.07
		50	52	2	1.38	2m@ 1.38
		50	51	1	2.10	1m@ 2.10
	SWC127	5	7	2	0.77	2m@0.77
		20	21	1	1.70	1m@ 1.70
		26	47	21	0.84	21m@0.84
	inc	26	27	1	2.14	1m@ 2.14
	and	31	32	1	2.17	1m@ 2.17
	MSRC002	114	143	29	0.88	29m@0.88
	inc	115	119	4	2.09	4m@ 2.09
	MSRC038	101	122	21	1.15	21m@ 1.15
	inc	103	109	6	1.62	6m@ 1.62
	and	104	105	1	2.37	1m@ 2.37
	MSRC026	82	83	1	0.64	1m@0.64
		88	89	1	4.92	1m@ 4.92
		198	206	8	1.88	8m@ 1.88
	inc	198	199	1	3.58	1m@ 3.58
	and	205	206	1	4.42	1m@ 4.42
		210	213	3	0.91	3m@0.91
		216	217	1	0.72	1m@0.72
1520	SWC122	0	1	1	0.75	1m@0.75

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Section (N)	Hole ID	from (m)	to (m)	interval (m)	Au g/t	Intercept (g/t Au)
	SWC123	13	37	24	1.84	24m@ 1.84
	inc	13	14	1	3.94	1m@ 3.94
	and	18	29	11	2.82	11m@ 2.82
	inc	21	22	1	9.93	1m@ 9.93
		42	43	1	0.71	1m@0.71
	MSRC039					Assays pending
	SWC124	46	53	7	3.44	7m@ 3.44
	inc	46	48	2	9.95	2m@ 9.95
	and	47	48	1	12.60	1m@ 12.60
		56	63	8	1.23	8m@ 1.23
	inc	58	59	1	2.13	1m@ 2.13
	MSRC040					Assays pending
	MSRC041					Assays pending
1560	SWC119					NSI
	SWC120	1	10	9	1.64	9m@ 1.64
	inc	8	10	2	3.74	2m@ 3.74
	and	8	9	1	5.51	1m@ 5.51
		14	18	4	0.81	4m@0.81
	MSRC042					Assays pending
	SWC121	15	20	5	0.63	5m@0.63
		19	20	1	2.89	1m@ 2.89
		34	49	15	1.06	15m@ 1.06
	inc	37	40	3	2.80	3m@ 2.80
	and	39	40	1	4.23	1m@ 4.23
	MSRC043					Assays pending
	MSRC044					Assays pending
1600	SWC116	27	28	1	0.54	1m@0.54
	SWC117	9	20	11	0.93	11m@0.93
	inc	9	12	3	2.18	3m@ 2.18
	and	10	11	1	3.56	1m@ 3.56
		23	26	3	0.59	3m@0.59
		56	58	2	1.33	2m@ 1.33
	SWC118	45	46	1	0.84	1m@0.84
		52	54	2	0.61	2m@0.61
	MSRC045					Assays pending
	MSRC046					Assays pending
	MSRC047					Assays pending
1640	SWC113					NSI
	SWC114	15	27	12	4.74	12m@ 4.74
	inc	17	21	4	12.98	4m@ 12.98

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Section (N)	Hole ID	from (m)	to (m)	interval (m)	Au g/t	Intercept (g/t Au)
	and	19	21	2	21.40	2m@ 21.40
	SWC115	50	54	4	2.06	4m@ 2.06
	MSRC048					Assays pending
	MSRC001	68	72	4	0.78	4m@0.78
		106	108	2	48.00	2m@ 48.00
		125	129	4	1.01	4m@ 1.01
	inc	127	128	1	2.80	1m@ 2.80
		137	139	2	1.01	2m@ 1.01
	MSRC049					Assays pending
	MSRC025	111	112	1	1.32	1m@ 1.32
		187	191	4	8.84	4m@ 8.84
	inc	188	189	1	33.10	1m@ 33.10
		225	226	1	0.97	1m@0.97
		230	231	1	0.81	1m@0.81
		234	251	17	1.66	17m@ 1.66
	inc	234	237	3	5.17	3m@ 5.17
	and	235	236	1	9.20	1m@ 9.20
1680	SWC110					NSI
	SWC111	18	21	3	5.35	3m@ 5.35
	inc	19	20	1	10.00	1m@ 10.00
		25	27	2	0.65	2m@0.65
	MSRC050					Assays pending
	SWC112	47	50	3	1.69	3m@ 1.69
		53	54	1	3.52	1m@ 3.52
	MSRC051					Assays pending
	MSRC052					Assays pending
1720	SWC107	0	5	5	1.56	5m@ 1.56
	inc	4	5	1	5.12	1m@ 5.12
	SWC108	17	26	9	0.78	9m@0.78
	inc	23	26	3	1.27	3m@ 1.27
	SWC109	40	41	1	0.51	1m@0.51
		48	51	3	3.34	3m@ 3.34
	inc	49	51	2	4.14	2m@ 4.14
	MSRC053					Assays pending
	MSRC054					Assays pending
	MSRC055					Assays pending
1760	SWC104	6	9	3	3.84	3m@ 3.84
	inc	7	8	1	6.41	1m@ 6.41
		17	18	1	3.03	1m@ 3.03
	SWC105	26	28	2	2.23	2m@ 2.23
	inc	26	27	1	3.26	1m@ 3.26

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Section (N)	Hole ID	from (m)	to (m)	interval (m)	Au g/t	Intercept (g/t Au)
		36	38	2	3.52	2m@ 3.52
	inc	37	38	1	5.85	1m@ 5.85
	MSRC056					Assays pending
	SWC106	63	69	6	2.66	6m@ 2.66
	inc	63	65	2	6.29	2m@ 6.29
	and	64	65	1	8.54	1m@ 8.54
	MSRC057					Assays pending
	MSRC058					Assays pending
1800	MSRC059					Assays pending
	MSRC060					Assays pending
1840	MSRC061					Assays pending
	MSRC062					Assays pending
	MSRC063					Assays pending

This announcement has been authorised for release by the Board of Directors.

Peretz Schapiro Executive Chairman Torian Resources Ltd info@torianresources.com.au

About Torian:

Torian Resources Ltd (ASX: TNR) is a highly active gold exploration and development company with an extensive and strategic land holding comprising six projects and over 400km² of tenure in the Goldfields Region of Western Australia. All projects are nearby to excellent infrastructure and lie within 50km of major mining towns.

Torian’s flagship Mt Stirling Project is situated approximately 40km NW of Leonora, and neighbours Red 5’s Kind of the Hills mine. The region has recently produced approximately 14M oz of gold from mines such as Tower Hills, Sons of Gwalia, Thunderbox, Harbour Lights and Gwalia.

The Mt Stirling Project consists of 2 blocks:

1. The Stirling Block to the north which contains two JORC Inferred resources.

2. a. Mt Stirling – 727,000t at 1.45 g/t Au for 33,900oz

3. b. Stirling Well – 253,500t at 2.01 g/t Au for 16,384oz

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Page 16 of 21 / 16 December 2020

1. The Diorite Block to the south, home of the historic 73 g/t Diorite King Mine.

Another key project and one of renewed focus for the Company is the Mount Monger Project, located 50 km south east of Kalgoorlie. The Mount Monger goldfield is located within the Kalgoorlie terrane subdivision of the Eastern Goldfields Province. This 3,700-hectare project lies within close vicinity of Silver Lake Resources Ltd’s (ASX: SLR) key asset, the Mount Monger Gold Camp, a prolific part of the Eastern Goldfields district of Western Australia. The Mount Monger Camp had produced more than 1.67Moz in the last 30 years, and more than 330,000 ounces for Silver Lake in in the last 24 months alone.

The project consists of two distinct areas:

1. The Wombola Block to the north

2. The Mt Monger South Block to the south

Another project in the Kalgoorlie region is the Zuleika project in which the Company is involved in a JV with Dampier Gold Ltd (ASX: DAU). The Zuleika project is located along the world-class Zuleika Shear, which is the fourth largest gold producing region in Australia and consistently produces some of the country’s highest grade and lowest cost gold mines. This project lies north and partly along strike of several major gold deposits including Northern Star’s (ASX: NST) 7.0Moz East Kundana Joint Venture and Evolution’s (ASX: EVN) 1.8Moz Frogs Legs and White Foil deposits.

Torian’s other projects within the Kalgoorlie region include the Bonnei Vale and Gibraltar Projects, and its Credo Well JV with Dampier Gold Ltd (ASX: DAU), host of a JORC Inferred resource of 86,419t at 4.41 g/t Au for 12,259 oz.

Streamlined Competent Person Statement

The information in this report relating to exploration results and Minerals Resource Estimates is based on information compiled, reviewed and relied upon by Mr Dale Schultz. Mr Dale Schultz, Principle of DjS Consulting, who is Torian’s consulting Geologist and Director, compiled, reviewed and relied upon prior data and ASX releases dated 25 February 2019 and 29 January 2020 to put together the technical information in this release and is a member of the Association of Professional Engineers and Geoscientists of Saskatchewan (APEGS), which is ROPO, accepted for the purpose of reporting in accordance with ASX listing rules. Mr Schultz has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Schultz consents to the inclusion in the report of the matters based on information in the form and context in which it appears.

The JORC Resource estimates released on 25 February 2019 were reviewed and relied upon by Mr Dale Schultz were reported in accordance with Clause 18 of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (2012 Edition) (JORC Code).

Torian Resources confirms in the subsequent public report that it is not aware of any new information or data that materially affects the information included in the relevant market announcements on the 25 February 2019 and 29 January 2020 and, in the case of the exploration results, that all material assumptions and technical parameters underpinning the

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results in the relevant market announcement reviewed by Mr Dale Schultz continue to apply and have not materially changed.

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget” “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved.” Forward-looking information is based on certain factors and assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, Gold and other metal prices, the estimation of initial and sustaining capital requirements, the estimation of labour costs, the estimation of mineral reserves and resources, assumptions with respect to currency fluctuations, the timing and amount of future exploration and development expenditures, receipt of required regulatory approvals, the availability of necessary financing for the Project, permitting and such other assumptions and factors as set out herein.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in Gold prices; sources and cost of power and water for the Project; the estimation of initial capital requirements; the lack of historical operations; the estimation of labour costs; general global markets and economic conditions; risks associated with exploration of mineral deposits; the estimation of initial targeted mineral resource tonnage and grade for the Project; risks associated with uninsurable risks arising during the course of exploration; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support exploration activities; risks associated with changes in the mining regulatory regime governing the Company and the Project; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalisation and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at the Project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of the Company; the risk of litigation.

Although the Company has attempted to identify important factors that cause results not to be as anticipated, estimated or intended, there can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward looking information is made as of the date of this announcement and the Company does not undertake to update or revise any forward-looking information this is included herein, except in accordance with applicable securities laws

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Mt Stirling Project: JORC Table 1

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Section 1 ‐ Sampling Techniques and Data

Criteria	Commentary
Sampling techniques	 Drilling results reported are from previous and current exploration completed by Torian Resources Ltd and historical explorers including the original vendors of M37/1306, North Ltd, Dominion Mining Limited and Tern Minerals Ltd.  Reverse circulation drilling was used to obtain 1m split samples from which 2‐3kg was pulverised to produce a 500g tub for Photon assay. Sampling has been carried out to company methodology and QA/QC to industry best practice. Zones of interest were 1m split sampled, and comp spear sampling was carried out on interpreted barren zones. Samples were dispatched to MinAnalytical in Kalgoorlie were prep included sorting, drying and pulverisation for a 500gm Photon Assay (PAAU02)
Drilling techniques	 Historical drilling techniques include reverse circulation (RC) drilling. Standard industry techniques have been used where documented. Current RC drilling was carried out by PXD and Orlando utilising a Schramm truck and track mounted rig respectively.  The more recent RC drilling utilised a face sampling hammer with holes usually 155mm in diameter.
Drill sample recovery Logging	 Drill recovery has not been routinely recorded on historical work, and is captured for all recent drilling
	 Geological logs are accessible and have been examined over the priority prospect areas. The majority of the logging is of high quality and has sufficiently captured key geological attributes including lithology, weathering, alteration and veining.  Logging is qualitative in nature, to company logging coding.  All samples / intersections have been logged. 100% of relevant length intersections have been logged.
Sub‐sampling techniques and sample preparation	 Standard industry sampling practices have been undertaken by the historical exploration companies. Appropriate analytical methods have been used considering the style of mineralisation being sought.  Sample sizes are considered appropriate.  QC/QC data is absent in the historical data with the exception of the more recent Torian drilling, where sample standards and blanks are routinely used.
	 In the more recent Torian drilling duplicate samples (same sample duplicated) were commonly inserted for every 20 samples taken. Certified Reference Materials (CRM's), blanks and duplicates, are included and analysed in each batch of samples.

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	 There is a significant amount of coarse gold at the Mt Stirling Well Prospect. This is reflected in the poor repeatability of some samples and was also noted on the drill logs.
Quality of assay data and laboratory tests	 The historical drill sample gold assays are a combination of Fire Assay and Aqua Regia. The assay techniques and detection limits are appropriate for the included results.  Various independent laboratories have assayed samples from the historical explorers drilling. In general they were internationally accredited for QAQC in mineral analysis.  No geophysical tools have been used to date.  The laboratories inserted blank and check samples for each batch of samples analysed and reports these accordingly with all results.  Samples were analysed for gold via a 50 gram Lead collection fire assay and Inductively Coupled Plasma optical (Atomic) Emission Spectrometry to a detection limited of 0.005ppm Au.  Intertek Genalysis routinely inserts analytical blanks, standards and duplicates into the client sample batches for laboratory QAQC performance monitoring.  The laboratory QAQC has been assessed in respect of the RC chip sample assays and it has been determined that the levels of accuracy and precision relating to the samples are acceptable.
Verification of sampling and assaying	 The historical and current drill intercepts reported have been calculated using a 0.5g/t Au cut‐off, with a maximum 2m internal waste. Twinned holes have been completed to verify repeatability of sampling and assaying used to date.  Documentation of primary data is field log sheets (handwritten) or logging to laptop templates. Primary data is entered into application specific data base. The data base is subjected to data verification program, erroneous data is corrected. Data storage is retention of physical log sheet, two electronic backup storage devices and primary electronic database.
Location of data points	 Drill hole collarswere located using a handheld GPS system. The coordinated are stored in a digital exploration database and are referenced to MGA Zone 51 Datum GDA 94.  Location of the majority of the historical drill holes has been using a handheld GPS system, or local grids that have been converted to MGA Zone 51 Datum GDA 94. Survey control used is handheld GPS for historic holes and  The more recent Torian drilling has been located utilising a differential GPS and the majority of these holes have been surveyed downhole.
Data spacing and distribution	 The historical drill spacing is variable over the project as depicted on map plan diagrams.
	 Drill spacing over the more advanced Mt Stirling and Mt Stirling Well Prospects varies from 40m by 40m to 20m by 20m respectively.

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	 Sample compositing has been used in areas where mineralisation is not expected to be intersected. If results return indicate mineralisation, 1m split samples were submitted for analysis.
Orientation of data in relation to geological structure	 The orientation of the drilling is approximately at right angles to the known mineralisation trend and so gives a fair representation of the true width of mineralisation intersected.  No sampling bias is believed to occur due to the orientation of the drilling.
Sample security	 Drill samples were compiled and collected by Torian employees/contractors. All sample were bagged into calico bags and tied. Samples were transported from site to the MinAnalytical laboratory in Kalgoorlie by Torian employees/contractors.  A sample submission form containing laboratory instructions was submitted to the laboratory. The sample submission form and sample summary digitised records were compiled and reviewed so as to check for discrepancies.
Audits or reviews	Areview of historical data over the main Mt Stirling and Mt Stirling Well Prospects has been undertaken. The QA/QC on data over the remainder of the project tenements is ongoing.

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