VANADIUM RESOURCES LIMITED — Regulatory Filings 2017

Nov 16, 2017

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17 November 2017

DRILLING COMMENCES ON PILBARA PROJECTS

• Drilling has commenced at Tando’s Quartz Bore Project.

• Maiden drill programme will target extensions to known zinc mineralisation at Quartz Bore via oriented diamond core and modern geophysical techniques.

• Mineralisation at the Balla Balla Prospect has been defined by drilling over a strike length of 600m and is open at depth and along strike.

• Sampling and mapping is also underway to test the potential for conglomerate hosted gold at the Quartz Bore Project.

Tando Resources (“ Tando ” or “ the Company ”) is pleased to advise the commencement of its maiden drilling programme in the Pilbara region of Western Australia.

The maiden drill programme at Quartz Bore aims to generate targets below, and along strike from, high grade zinc mineralisation defined in historical drilling at the Balla Balla Prospect.

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Figure 1 . Drilling at the Quartz Bore Project. Photograph courtesy DDH1 Drilling.

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Mineralisation has been defined over 600m of strike length and is open along strike and at depth. Historical results are detailed in the ASX Announcement of 3 November 2017 and include:

• 15m @ 5.92% Zn, 0.80% Cu and 1.45% Pb (BBD009)

• including 6m @ 7.34% Zn

• 15m @ 5.11% Zn, 0.12% Cu and 1.89% Pb (BBRC007)

• including 5m @ 12.5% Zn

• 3m @ 15.5% Zn, 0.76% Cu and 4.90% Pb (BBD003)

• 7.6m @ 4.86% Zn, 2.13% Cu and 1.56% Pb (BBD002)

• including 2m @ 13.71% Zn

• 10m @ 4.45% Zn, 0.22% Cu and 2.54% Pb (BBRC005) o including 2m @ 9.74% Zn

Results from the Company’s maiden drill programme will be used to guide future testing of the down-dip and down-plunge extensions to mineralisation. Downhole geophysical surveying will be carried out as holes are completed using DHMMR and DHEM methods. These methods have been successfully employed by the Company’s consultants Southern Geoscience at the adjacent Salt Creek Deposit, owned by Venturex Resources (refer VXR’s ASX Announcement 31 May 2017). Information from these surveys will be incorporated with geological data from the core to target extensions to mineralisation.

The Company’s geologists have also commenced a sampling programme at Quartz Bore investigating the potential for conglomerate-hosted gold mineralisation within the Company’s Pilbara projects . The Quartz Bore Project is adjacent to Venturex’s Loudens Patch Prospect and proximate to recent “nugget patch” discoveries by De Grey Mining, DGO Gold and Segue Resources (refer ASX.VXR Announcement 18 October 2017, ASX.DEG ASX Announcements 26 September 2017 & 30 October 2017, ASX.DGO Announcement 25 October 2017 and ASX.SEG ASX Announcement 6 November 2017). Initial fieldwork consists of reconnaissance mapping (although outcrop is limited) and surface and stream sediment sampling.

Figure 2 . Stream Sediment Sampling at the Quartz Bore Project.

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For and on behalf of the board:

Sarah Smith Company Secretary

Competent Persons Statement

The information in this announcement that relates to Exploration Results complies with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ( JORC Code ) and has been compiled and assessed under the supervision of Mr Bill Oliver, the Managing Director of Tando Resources Ltd. Mr Oliver is a Member of the Australasian Institute of Mining and Metallurgy and the Australasian Institute of Geoscientists. He has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. Mr Oliver consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

Disclaimer

Some of the statements appearing in this announcement may be in the nature of forward looking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industries in which Tando operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied in any forward looking statement. No forward looking statement is a guarantee or representation as to future performance or any other future matters, which will be influenced by a number of factors and subject to various uncertainties and contingencies, many of which will be outside Tando’s control.

Tando does not undertake any obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of Tando, its Directors, employees, advisors or agents, nor any other person, accepts any liability for any loss arising from the use of the information contained in this announcement. You are cautioned not to place undue reliance on any forward looking statement. The forward looking statements in this announcement reflect views held only as at the date of this announcement.

This announcement is not an offer, invitation or recommendation to subscribe for, or purchase securities by Tando. Nor does this announcement constitute investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used for the basis of making an investment decision. Investors should obtain their own advice before making any investment decision.

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