VANADIUM RESOURCES LIMITED — Regulatory Filings 2017

Nov 7, 2017

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8 November 2017

PILBARA DRILLING CONTRACTOR ENGAGED AND MOBILISING

• DDH Drilling Pty Ltd has been contracted to complete the Company’s maiden Pilbara drilling programme.

• Drilling rig to mobilise to the Quartz Bore Project this week.

• Drill programme targets extensions to known zinc mineralisation at Quartz Bore.

• 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.

• High grade mineralisation has also been intersected in drilling at the Balla Balla East and Balla Balla West Prospects.

• Commencement of fieldwork will also enable investigations to commence into potential conglomerate hosted gold across the Company’s Projects.

Tando Resources (“ Tando ” or “ the Company ”) is pleased to advise that it has engaged a drilling contractor to carry out its maiden drilling programme at its projects in the Pilbara region of Western Australia.

DDH1 Drilling Pty Ltd (“ DDH1 ”) have been engaged in preparation for the commencement of drilling at the Quartz Bore Project (E47/3352).

DDH1 will begin mobilising the drilling rig and equipment to site later this week with drilling to commence following the completion of a heritage survey at the Quartz Bore Project.

The initial drilling will verify results from historical drillhole BBD009 (15m @ 5.92% Zn, 0.80% Cu and 1.45% Pb, including 6m at 7.34% Zn), BBD002 (7.6m @ 4.86% Zn, 2.13% Cu and 1.56% Pb including 2m @ 13.71% Zn, also 3.5m at 5.68% Zn, 0.39% Cu and 2.03% Pb) and BBD021 (5m @ 3.15% Zn) as well as provide cased drillholes to enable downhole surveying to be completed. Note all historical results are detailed in the ASX Announcement of 3 November 2017 along with supporting information prescribed by the JORC Code and ASX Listing Rules.

It is anticipated that geophysical surveying using the DHMMR and DHEM methods will assist in detecting extensions to mineralisation. 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).

The two holes selected as the initial drillholes represent two of the deeper mineralised holes at the Balla Balla Prospect and results will guide further testing of the down-dip and down-plunge extensions to mineralisation, which remains open at depth (Figure 1).

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Drilling will also be completed to test the strike extents of mineralisation, including testing adjacent to BBD024 (2.6m at 7.15% Zn, 0.31% Cu and 2.98% Pb and 2m at 5.18% Zn, 0.14% Cu and 1.86% Pb). Mineralisation remains open along strike at the Balla Balla Prospect.

Should time permit drilling will also be carried out at the West Balla Balla and East Balla Balla. Historical drilling has intersected zinc-copper mineralisation at both these prospects (refer ASX Announcement 3 November 2017) including 7m at 9.72% Zn, 0.05% Cu and 2.82% Pb in WBRC015 at West Balla Balla and 0.8m at 2.30%Zn and 17.2% Cu in EBD001 at East Balla Balla. The combination of downhole geophysics and structural geological data from oriented core will be used to guide exploration to test potential extensions to these high grade intersections.

The mobilisation of field crew and equipment also enables the Company’s geologists to begin investigations into the potential for conglomerate-hosted gold mineralisation within the Company’s Pilbara projects, commencing at Quartz Bore . 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 will comprise reconnaissance mapping (although outcrop is limited) and surface and stream sediment sampling.

Figure 1 . Long Section showing historical drilling results from the Balla Balla Prospect, Quartz Bore Project.

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Figure 2 . Plan showing historical drilling results from the Balla Balla Prospect, Quartz Bore Project.

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For further information please contact:

Sarah Smith Company Secretary +61 8 6559 1792 contact@tandoresources.com.au

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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. The Exploration Results are based on standard industry practises for drilling, logging, sampling, assay methods including quality assurance and quality control measures as detailed in Appendix 2.

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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