GOLDARC RESOURCES LIMITED — M&A Activity 2017

Jan 5, 2017

NOTICE OF VARIATION – EXTENSION OF THE OFFER PERIOD SECTION 650D – CORPORATIONS ACT 2001 (CTH)

OFF-MARKET TAKEOVER OFFER BY TORIAN RESOURCES LIMITED FOR ALL OF THE ORDINARY SHARES IN CASCADE RESOURCES LIMITED

• To: 1. Cascade Resources Limited (ACN 128 744 178) ( Cascade

  1. Australian Securities and Investments Commission.

  2. Each person to whom offers were made under the takeover offer referred to in this notice.

This is a notice given by Torian Resources Limited (ACN 002 261 565) ( Torian ) in relation to the offers made under its off-market takeover bid for all of the ordinary shares in Cascade (the Offers ) pursuant to its bidder’s statement dated 7 December 2016 as supplemented by a supplementary bidder’s statement dated 5 January 2017 ( Bidder’s Statement ).

In accordance with section 650D of the Corporations Act 2001 (Cth) ( Act ), Torian gives notice that it varies the Offers by extending the period during which the Offers will remain open so that the Offers will now close at 5:00pm (WST) on Friday, 10 March 2017 (unless further extended).

As a result of the extension of the Offer period, Torian gives notice under section 630(2)(b) of the Act that:

• (a) the new date for giving notice of the status of the conditions to the Offer, as required by subsection 630(1) of the Act, is 3 March 2017 (subject to any further extension in accordance with section 630(2) of the Act if the Offer is extended); and

• (b) as at the date of this notice, the Offer remains subject to all defeating conditions set out in section 9 of Annexure A of the Bidder’s Statement.

A copy of this notice was lodged with ASIC on 5 January 2017. ASIC takes no responsibility for the contents of this notice.

This notice has been approved by a unanimous resolution of the directors of Torian.

Signed for and on behalf of Torian Resources Limited by:

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____________________________ ____________________________ Glenn Jardine Matthew Sullivan Director Director