LINDIAN RESOURCES LIMITED — Capital/Financing Update 2017

Feb 27, 2017

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Level 11, London House
216 St Georges Terrace,
Perth Western Australia 6000
GPO Box 2517, Perth
Western Australia 6831
T +61 8 9481 0389
F +61 8 9463 6103
E info@lindianresources.com.au
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28 February 2017

UYOWA PROJECT

EXPLORATION UPDATE

HIGHLIGHTS

• Recent site visit on Uyowa Project conducted by Lindian non-executive director Matt Bull resulted in updated geological mapping and further applications for tenure

• Geological mapping has identified shear zones with areas of artisanal workings identified along strike from known gold mineralisation

• Two additional applications covering 230 km[2] of ground prospective for gold along strike from known mineralisation have been submitted

• Ground magnetic surveys and historical drilling results to assist with further exploration efforts

• Field work in preparation for drilling continues to advance in preparation for drilling in the second quarter of 2017

Several hundred artisanal miners have been active at the Kona Tatu mine to the south of the Uyowa deposit where mineralisation occurs within a sub parallel shear zone to the one hosting the Uyowa deposit. The ongoing exploration program has identified east west trending extensions to both of the mineralised shear zones. Areas of artisanal workings were identified along the shear zone but no modern exploration has been carried out east of the existing drilling pattern. Lindian Resources has applied for the ground directly east of both deposits Figure 1 shows location of the deposit locations and the two additional applications and the details of the applications are shown in appendix 1.

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Figure 1 Location of the Uyowa Project applications east of the known gold deposits

Uyowa Deposit

Artisanal miners have targeted quartz veins at the Uyowa deposit via a series of shafts. RC drilling planned for the 2Q 2017 drilling program will target both infill drilling within the known deposit as well as extending the deposit to the east and to the west. Reinterpretation of the existing ground magnetic survey is now underway to aid in the planning of the drilling program.

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Photos of the artisanal workings at the Uyowa deposit targeting quartz veins within the shear zone hosted gold deposit.

Level 11, London House, 216 St Georges Terrace, Perth Western Australia 6000 GPO Box 2517, Perth, Western Australia 6831

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Kona Tatu Deposit

The Kona Tatu gold deposit is located approximately 6km south of Uyowa and is hosted in a sub-parallel shear to the one hosting Uyowa. Lindian has applied for the ground directly to the east of the both deposits where mapping has identified a continuation of the shear zones. Once the applications are granted, these areas will be the focus of soil sampling and ground magnetic surveys to define extensions to the deposit for drill testing.

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Photos of the artisanal workings at the Kona Tatu deposit targeting a similar style of mineralisation to Uyowa on a sub parallel shear zone.

Exploration Program Summary

Lindian’s exploration program is focused on developing the existing Uyowa deposit and identifying similar deposits within the region to progress towards a defined JORC-compliant Resource within the Uyowa Project.

Initial drilling will be used to infill and extend the known 1.3km of strike at Uyowa already identified by the drilling database. The program will be designed to potentially achieve a JORC compliant Resource in 2017.

Additional targets will be advanced through geological mapping, soil sampling and ground magnetic surveys within the two new applications. This will commence as soon as the tenements are granted.

For and on behalf of Lindian Resources Limited

Eddie King Chairman

Lindian Resources Limited

Level 11, London House, 216 St Georges Terrace, Perth Western Australia 6000 GPO Box 2517, Perth, Western Australia 6831

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Competent Person Statement

The information on the page that relates to Exploration Results is based on information compiled or reviewed by Mr Matt Bull, who is a director of Lindian Resources Limited. Mr Bull is a member of the Australian Institute of Geoscientists and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Bull consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

About the Uyowa Project

The Uyowa Gold Project is located within the renown Lake Victoria Gold Fields in Western Tanzania. Previous exploration has highlighted a 13 kilometre long soil and auger drilling anomaly that has been partially tested by RC and diamond drilling. Previous exploration of 2,486 metre reverse circulation drilling identified two narrow, but continuous, gold rich zones extending about 1.3 kilometres in strike length.

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Location of the Kahama and Uyowa Gold Projects

Level 11, London House, 216 St Georges Terrace, Perth Western Australia 6000 GPO Box 2517, Perth, Western Australia 6831

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Appendix 1

Project	Licence Number	Status	Licence Type	Area
Kahama Project	PL10722/2015	Granted	Prospecting	21.81 km2
Uyowa Project	PL10918/2016	Granted	Prospecting	27.08 km2
Uyowa Project	PL11710/2017	Application	Prospecting	84.5 km2
Uyowa Project	PL11711/2017	Application	Prospecting	141.95 km2
Uyowa Project	PML15443/CWZ	Application	Primary Mining	0.08 km2
Uyowa Project	PML15444/CWZ	Application	Primary Mining	0.08 km2
Uyowa Project	PML15475/CWZ	Application	Primary Mining	0.03 km2
Uyowa Project	PML15480/CWZ	Application	Primary Mining	0.06 km2
Uyowa Project	PML15481/CWZ	Application	Primary Mining	0.07 km2
Uyowa Project	PML15483/CWZ	Application	Primary Mining	0.08 km2
Uyowa Project	PML15484/CWZ	Application	Primary Mining	0.1 km2
Uyowa Project*	PML0003473	Granted	Primary Mining	0.08 km2
Uyowa Project*	PML0003474	Granted	Primary Mining	0.07 km2
Uyowa Project*	PML0003475	Granted	Primary Mining	0.04 km2
Uyowa Project*	PML0003476	Granted	Primary Mining	0.05 km2
Uyowa Project*	PML0003477	Granted	Primary Mining	0.08 km2
Uyowa Project*	PML0003478	Granted	Primary Mining	0.08 km2
Uyowa Project*	PML0003479	Granted	Primary Mining	0.08 km2
Uyowa Project*	PML000044CWZ	Granted	Primary Mining	0.08 km2
Uyowa Project*	PML000045CWZ	Granted	Primary Mining	0.08 km2
Uyowa Project*	PML0003469	Granted	Primary Mining	0.08 km2

* Hapa Gold’s interest in these licences is subject to completion occurring under an option agreement with the local licence holders. Total cash consideration for acquisition of all 10 PMLs under the option agreement, over a three year period, is US$400,000

Level 11, London House, 216 St Georges Terrace, Perth Western Australia 6000 GPO Box 2517, Perth, Western Australia 6831

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