VENARI MINERALS NL — Board/Management Information 2017

Oct 9, 2017

10 October 2017[ Type here]

COMPLETION OF NEEDLES ACQUISITION AND BOARD CHANGES

Astro Resources NL (ASX: ARO or the Company ) advises the following:

Completion of Needles acquisition

The Board is pleased to announce that it has completed the acquisition of 100% of the shares in Needles Holdings Inc, inclusive of the 113 Claims in Nevada State. As part of the acquisition, the Company has assumed $370,000 loan from Mining Investments Limited. Funding of this facility is to from the previously announced facility of $1 million to be provided by Mining Investments Limited. No further consideration was paid in respect of this acquisition and the terms of the acquisition are in accordance with those previously announced.

Commencement of work program

The Company has also entered into a contract with an external consultant to undertake a number of activities with respect to the Needles Property. The primary initial activity will be a pole-dipole resistivity geophysical survey whose key objective is to determine anomalous areas of potential mineralisation that will form targets for an RC drilling campaign in the near future. Further updates will be provided as the come to hand.

Board changes

The Board is pleased to advise that Mr Fayad has been appointed as a director. He will also maintain the role of Company Secretary.

Mr Fayad’s background and experience is outlined in the Company’s annual report dated 12 September 2017. However, the Board notes Mr Fayad’s extensive experience in the area of accounting and finance with over 35 years of experience.

Mr Fayad is a Director and beneficial shareholder of Vince Fayad & Associates Pty Ltd ( VFA ), who provides accounting and corporate secretarial services to the Company. A summary of VFA’s contract is included in Appendix 1.

The Board also advises that Mr Graham Libbesson resigned as a Director. Mr Libbesson has been a member of the Board since September 2011 and the Board thanks Mr Libbeson for his contribution to the Company and wishes him every success in his future endeavours.

ENDS

For enquiries, please contact:

Vince Fayad

Company Secretary and Director P: +61 414 752 804 Vince.fayad@vfassociates.com.au

a : ` suite 6, level 5, 189 kent street p : gpo box 2733 sydney nsw 2000 w : www.aro.com.au e

ph : +61 8046 2799 fx asx : aro

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Appendix 1

Summary of the key terms of Contract for Vincent J Fayad

• Name of entity – Vince Fayad & Associates Pty Ltd

• Term – indefinite

• Fees – monthly retainer of $7,500 per month plus GST or $90,000 per annum plus GST for accounting and secretarial services, including the provision of a registered office as well as Director related services

• Scope of work is defined in an engagement letter dated 22 September 2017. However, the scope broadly includes the provision of accounting, taxation and secretarial services. Work outside the scope of services is charged at VFA’s hourly rates.

• Termination – the contract can be terminated at anytime, with a four months break fee.

a : ` suite 6, level 5, 189 kent street sydney nsw 2000 w : www.aro.com.au

p : gpo box 2733 e

ph : +61 8046 2799 fx asx : aro