XENORA MINERALS LTD — Capital/Financing Update 2017

Aug 27, 2017

ASX Announcement 28 August 2017

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STOKES YARD MAPPING OUTLINES HIGH-GRADE COPPER, ZINC AND LEAD POTENTIAL

Rock chip sampling returns grades up to 9.72% lead, 8.86% zinc, 2.96% copper and 64g/t silver

HIGHLIGHTS

• Recent mapping and sampling of the Stokes Yard prospect area in the NT has outlined strong potential for near-surface high-grade copper, zinc and lead mineralisation, with results including:

• Rock sample results including: 9.72% Pb, 8.86% Zn, 2.96% Cu and 64g/t Ag

• Delineation of a 600x400m zinc-copper-lead soil anomaly

• pXRF soil sampling results up to 5,690ppm Zn and 2,531ppm Pb

• Anomalous rock chip samples over a 50x100m area

• Further sampling and geophysical programs now planned to define initial drill targets

• Ongoing activities at other key projects within Todd River’s exploration portfolio include:

• SkyTEM Airborne EM survey over the McArthur River tenure, commenced on 14 August, is now complete. Data processing has commenced prior to modelling and assessment

• RC drilling of EM targets at the Walabanba Project has been completed. Results are currently awaited and down-hole EM surveys are planned

Todd River Resources Limited (ASX: TRT) is pleased to advise that recent mapping and sampling at the 100%-owned Stokes Yard Project in the Northern Territory has outlined significant zinc, copper and lead mineralisation at surface.

Soil sampling has delineated a large new 600x400m zinc-copper- lead soil anomaly, with maximum values of 5,690ppm zinc and 2,531ppm lead. The anomaly area returned 22 samples exceeding 250ppm zinc and 21 samples at greater than 100ppm lead, defining a highly anomalous surface geochemical zone predicted to reflect mineralisation at depth.

Rock chip sampling returned further high-grade results, with maximum grades of: 9.72% Pb, 8.86% Zn, 2.96% Cu, and 64 g/t Ag

ABN 45 600 308 398 Level 1 282 Rokeby Road Subiaco WA 6008 | PO Box 2019 Subiaco WA 6904 P +61 8 9327 0950 | F +61 8 9327 0901 | E corporate@trrltd.com.au www.trrltd.com.au

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These results reinforce the Stokes Yard Project’s outstanding potential for high-grade near-surface polymetallic base metals mineralisation, and the company is now planning additional sampling and geophysical work to define initial drill targets.

Stokes Yard – Background and Historical Exploration

The Stokes Yard Project is located 190km west of Alice Springs (Figure 1) and is on Glen Helen pastoral lease. Access from Alice Springs is via the bitumen Larapinta Drive and from there along the formed gravel Haasts Bluff/Papunya Road.

The project comprises one 50.45 sq.km. Exploration License (EL 30131) that was acquired by TNG in mid-2016, and subsequently rolled into Todd River Resources as part of the spin-out and ASX listing.

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Figure 1 Location of the Stokes Yard project EL 30131.

The tenement area falls within the central eastern portion of Warumpi Province within the Arunta Region of central Australia (Figure 2). Rocks underlying the tenement are medium to high grade metamorphics, of both metavolcanic and metasedimentary origin, including calcsilicates and schists. They form part of the ca. 1600 Ma Iwapataka Metamorphic Complex and Ikuntji Metamorphics, according to recent Northern Territory Geological Survey (NTGS) interpretation.

Previous work on the area is outlined in TNG’s ASX Release dated 30 June 2016, with highlights including:

• Historic rock samples from this prospect have returned results up to 26% Zn, 7.5% Cu, 7.5% Pb and 130ppm Ag

• Rock sampling by the NTGS in the early 2000’s returned results including: 12.2% Pb and 8.8% Zn

Despite these significant results from the Stokes Yard Prospect, the area remained underexplored, with no drill testing or modern exploration techniques conducted in the last 40 years.

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Todd River Resources’ 2017 Exploration Results

Todd River Resources staff recently completed several days of field work at Stokes Yard, with geological mapping and surface soil and rock chip sampling conducted.

Mapping at 1:1000 scale (Figure 3) was conducted over the prospect area to locate all mineralised outcrops and determine litho-structural controls on the base metal mineralisation observed.

Most outcrop comprises quartz-feldspar-biotite gneiss (Figure 4) or amphibolite schist, with minor calcsilicate, quartzite and dolerite noted. Multiple deformation events have resulted in tight and complex folding along NNW/SSE axes. Minor quartz veins found in amphibolites are proximal to mineralisation, without hosting sulphides.

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Figure 4. Gneiss outcrop at Stokes Yard, 100m south of the main workings area.

Mineralisation is hosted by gossanous, weathered and mylonitic calcsilicate phase lithologies (Figure 5), both actinolite-bearing amphibolite schist and forsteritic marble. Ore minerals seen include: malachite, chrysocolla and brochantite (copper); cerussite (lead); and smithsonite (zinc).

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Figure 5. Stokes Yard workings. Rocks displaying green copper minerals in the foreground.

Rock chip sampling results (Figure 6 and Table 1) show anomalous values for zinc, lead and copper on two areas. The main Stokes Yard workings returned 12 rock chip samples exceeding 1% zinc, 11 samples exceeding 1% lead and one sample exceeding 1% copper (Table 1). The eastern area returned zinc values to 0.385% Zn.

Maximum rock sample results were:

• 9.72% Pb

• 8.86% Zn

• 2.96% Cu, and

• 64 g/t Ag

Soil sampling was completed over a 700x900 metre area at 25x100m spacings, with infill to 25x50m on anomalous areas, for a total of 376 samples. Analysis was by portable XRF (pXRF) on site using an Olympus Delta unit on Geochem Mode reading for 90 seconds.

Cautionary Note. Soil sample results are from an Olympus portable XRF analyser. As such they may not be representative of the whole sample, nor should they be seen as a substitute for lab based chemical analysis.

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Results for zinc (Figure 7) outlined an anomalous area of 400x600m (at a 100ppm Zn threshold). Above a 250ppm Zn cut-off, there are two anomalies - the main Stokes Yard workings (covering 250x125m) and the eastern area (measuring 200x75m). The maximum value for zinc was 5,690ppm Zn, with 22 samples exceeding 250ppm .

Lead results (Figure 8) match closely with the zinc pattern, having a maximum value of 2,531ppm Pb and 21 samples at greater than 100ppm Pb (anomalous threshold 5x background).

Copper anomalism reaches 404ppm Cu in pXRF soils.

Figures 7 and 8 clearly show that even while the area of old workings and surface evidence of mineralisation (which equates to the areas of anomalous rock chip results) is relatively modest (measuring approximately 100x50m), the area of geochemical anomalism as outlined by the Zn/Pb soil data is very significant (approximately 600x400m).

Full assessment of these results will await further analyses and mineralogical work, however Todd River is now designing further field work and a ground geophysical survey to assist in drill targeting.

Other Exploration Activities Currently Underway

McArthur River Project

The SkyTEM airborne EM survey (see ASX announcement 14 August 2017) is now complete, with data validation and quality control being conducted by the contractor prior to final data delivery to TRT. 3D modelling, interpretation and assessment will then commence immediately and interpretation expected to follow in September.

Mount Hardy Project

Down hole electromagnetic (DHEM) surveys have been completed and are being interpreted by TRT’s geophysical consultant

Walabanba Project

Drilling on the EM targets at Walabanba is now complete and assay results will be reported as they come in. DHEM surveys have commenced on these holes.

Paul E Burton

Technical Director

28 August 2017

Enquiries:

Paul Burton, Technical Director + 61 (0) 8 9327 0950

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Nicholas Read Read Corporate + 61 (0) 8 9388 1474

Competent Person Statement

The information in this report that relates to Exploration Results is based on, and fairly represents, information and supporting documentation compiled by Exploration Manager Mr Kim Grey B.Sc. and M. Econ. Geol. Mr Grey is a member of the Australian Institute of Geoscientists, and an employee of Todd River Resources Limited. Mr Grey has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Grey consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward-Looking Statements

This announcement has been prepared by Todd River Resources Ltd. This announcement is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained.

This is for information purposes only. Neither this nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of Todd River Resources Ltd shares in any jurisdiction.

This does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

To the fullest extent permitted by law, Todd River Resources Ltd, its officers, employees, agents and advisers do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this announcement. No responsibility for any errors or omissions from this arising out of negligence or otherwise is accepted.

This may include forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Todd River Resources Ltd. Actual values, results or events may be materially different to those expressed or implied. For more information please see the company’s website at www.trrltd.com.au

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Figure 2. Stokes Yard Project on published 1:250,000 scale geological map, showing the location of the Stokes Yard Prospect and the area of mapping and sampling (black rectangle).

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Figure 3. Geological map of the Stokes Yard prospect area, highlighting the areas of mineralised outcrop.

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Figure 6. Rock chip sampling locations on geological mapping, with zinc (upper) and lead (lower) rock chip results plotted.

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Figure 7. Portable XRF soil sampling over the Stokes Yard area, showing zinc results on imaged zinc background.

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Figure 8. Portable XRF soil sampling over the Stokes Yard area, showing zinc (upper right), copper (lower left) and lead (lower right) results. Red outline is the mapped extent of the mineralised rocks and historic workings.

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Table 1. Stokes Yard Rock Chip laboratory assay results for copper (Cu), lead (Pb), zinc (Zn) and silver (Ag) by ALS method ME-ICP61).

Sample_ID	Easting	Northing	Cu_%	Pb_%	Zn_%	Ag_ppm
SY16001	203619	7406314	0.040	0.954	3.000	18
SY16002	203618	7406312	0.105	0.120	0.309	3
SY16003	203621	7406314	0.244	2.130	4.230	35
SY16004	203628	7406294	0.186	1.545	2.900	23
SY16005	203618	7406315	0.346	2.270	0.856	46
SY16006	203620	7406307	0.142	5.500	1.730	40
SY16007	203616	7406312	0.298	1.040	2.950	32
SY16108	203809	7406295	0.003	0.002	0.385	-0.5
SY16109	203810	7406295	0.001	0.003	0.012	-0.5
SY16110	203810	7406293	0.001	0.001	0.032	-0.5
SY16111	203812	7406284	0.032	0.003	0.044	-0.5
SY16112	203812	7406284	0.134	0.014	0.009	0.9
SY16113	203809	7406286	0.003	0.001	0.002	-0.5
SY16114	203805	7406289	0.077	0.005	0.016	-0.5
SY16115	203816	7406272	0.002	0.002	0.155	-0.5
SY16116	203818	7406273	0.001	0.002	0.168	-0.5
SY16117	203626	7406273	2.960	1.590	2.960	39
SY16118	203631	7406263	0.210	8.690	7.600	64.1
SY16119	203629	7406267	0.039	9.720	3.230	50.8
SY16120	203626	7406275	0.030	0.214	0.454	-0.5
SY16121	203630	7406279	0.258	0.756	4.850	5.4
SY16122	203627	7406286	0.270	4.600	6.810	22.6
SY16123	203630	7406294	0.007	0.445	1.385	3.6
SY16124	203626	7406297	0.351	0.192	0.183	23.8
SY16125	203627	7406294	0.264	1.150	0.808	28.2
SY16126	203590	7406352	0.002	0.012	0.044	-0.5
SY16127	203640	7406292	0.018	6.070	0.629	56.2
SY16128	203633	7406275	0.040	0.828	8.860	6

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Appendix One - JORC Table One - Sampling Techniques and Data

Stokes Yard Rock Chip Sampling

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (eg cut channels, random	2-3kg rock chip samples.
	chips, or specific specialised industry standard	All samples have been submitted to ALS
	measurement tools appropriate to the minerals under	Laboratories for industry standard preparation
	investigation, such as down hole gamma sondes, or	(whole sample crushed to >85% <75um) and
	handheld XRF instruments, etc). These examples should	analysis by ME-ICP61 (multi-element ICP) for a
	not be taken as limiting the broad meaning of sampling.	broad element suite.
	Include reference to measures taken to ensure sample
	representivity and the appropriate calibration of any
	measurement tools or systems used.
	Aspects of the determination of mineralisation that are
	Material to the Public Report.
Drilling techniques	Drill type (eg core, reverse circulation, open-hole hammer,	Not relevant
	rotary air blast, auger, Bangka, sonic, etc) and details (eg
	core diameter, triple or standard tube, depth of diamond
	tails, face-sampling bit or other type, whether core is
	oriented and if so, by what method, etc).
Drill sample recovery	Method of recording and assessing core and chip sample	Not relevant
	recoveries and results assessed.
	Measures taken to maximise sample recovery and ensure
	representative nature of the samples.
	Whether a relationship exists between sample recovery and
	grade and whether sample bias may have occurred due to
	preferential loss/gain of fine/coarse material.
Logging	Whether core and chip samples have been geologically and	Rock chips were geologically logged for
	geotechnically logged to a level of detail to support	lithology, mineralogy, colour, weathering,
	appropriate Mineral Resource estimation, mining studies	alteration, structure and mineralisation.
	and metallurgical studies.
	Whether logging is qualitative or quantitative in nature. Core
	(or costean, channel, etc) photography.
	The total length and percentage of the relevant
	intersections logged.
Sub-sampling techniques	If core, whether cut or sawn and whether quarter, half or all	Sample preparation for all samples follows
and sample preparation	core taken.	industry best practice, with oven drying of
	If non-core, whether riffled, tube sampled, rotary split, etc	samples prior to coarse crushing and
	and whether sampled wet or dry.	pulverization (to >85% passing 75 microns) of
	For all sample types, the nature, quality and	the entire sample.
	appropriateness of the sample preparation technique.	The sample size (2-5 kg) is considered to be
	Quality control procedures adopted for all sub-sampling	adequate for the material and grainsize being
	stages to maximise representivity of samples.	sampled and the style of mineralisation being
	Measures taken to ensure that the sampling is	assessed.
	representative of the in situ material collected, including for
	instance results for field duplicate/second-half sampling.
	Whether sample sizes are appropriate to the grain size of
	the material being sampled.
Quality of assay data and	The nature, quality and appropriateness of the assaying	All samples reported here were analysed at
laboratory tests	and laboratory procedures used and whether the technique	ALS in Perth by technique ME-ICp61
	is considered partial or total.	(considered a “total” digest result).
	For geophysical tools, spectrometers, handheld XRF	Certified base metal standards were inserted
	instruments, etc, the parameters used in determining the	into the laboratory batch, results were
	analysis including instrument make and model, reading	acceptable.
	times, calibrations factors applied and their derivation, etc.
	Nature of quality control procedures adopted (eg standards,
	blanks, duplicates, external laboratory checks) and whether
	acceptable levels of accuracy (ie lack of bias) and precision
	have been established.

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Verification of sampling and	The verification of significant intersections by either	Sampling was conducted by the field geologist
assaying	independent or alternative company personnel.	and verified by the Exploration Manager prior
	The use of twinned holes.	to dispatch.
	Documentation of primary data, data entry procedures, data	All data was entered into standardized
	verification, data storage (physical and electronic) protocols.	spreadsheets on field laptops and uploaded
	Discuss any adjustment to assay data.	into the company Access database.
		No adjustments have been made to the
		primary assay data
Locations of data points	Accuracy and quality of surveys used to locate drill holes	All sampling locations were located up using a
	(collar and down-hole surveys), trenches, mine workings	standard GPS unit to an accuracy of ca. 3-5m
	and other locations used in Mineral Resource estimation.	for Easting, Northing and RL.
	Specification of the grid system used.	All coordinate data for the Stokes Yard project
	Quality and adequacy of topographic control.	are in MGA_GDA94 Zone 52.
Data spacing and	Data spacing for reporting of Exploration Results.	Sampling was of an exploratory and
distribution	Whether the data spacing and distribution is sufficient to	reconnaissance nature and spacings are
	establish the degree of geological and grade continuity	insufficient to establish continuity or define
	appropriate for the Mineral Resource and Ore Reserve	Resources.
	estimation procedure(s) and classifications applied.
	Whether sample compositing has been applied.
Orientation of data in	Whether the orientation of sampling achieves unbiased	Samples were point sampled and so do not
relation to geological	sampling of possible structures and the extent to which this	relate to the orientation of the mineralisation
structure	is known, considering the deposit type.	noted.
	If the relationship between the drilling orientation and the
	orientation of key mineralised structures is considered to
	have introduced a sampling bias, this should be assessed
	and reported if material.
Sample security	The measures taken to ensure sample security.	All samples were under company supervision
		at all times prior to delivering to ALS
		laboratories in Alice Springs
Audits or reviews	The results of any audits or reviews of sampling techniques	No sampling audits have been conducted at
	and data.	the Stokes Yard project to date.

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Mineral	Type, reference name/number, location and	The Stokes Yard Project is located on tenement EL 30131 held by
tenement and	ownership including agreements or material issues	Todd River Metals Pty Ltd, which is wholly-owned subsidiary of
land tenure	with third parties such as joint ventures,	Todd River Resources Limited.
status	partnerships, overriding royalties, native title	The tenement is in good standing with no know impediments.
	interests, historical sites, wilderness or national park
	and environmental settings.
	The security of the tenure held at the time of
	reporting along with any known impediments to
	obtaining a licence to operate in the area.
Exploration	Acknowledgment and appraisal of exploration by	All significant previous work is outlined in NTGS open file reports and
done by other	other parties.	in TNG ASX release dated 30 June 2016, with all work conducted by
parties		TRT reported herein.
Geology	Deposit type, geological setting and style of	There is insufficient information to define the style of base metals
	mineralisation.	mineralisation noted from the Stokes Yard prospect at this stage
		(given the weathered outcrop and significant deformation and
		metamorphism noted).
Drill hole	A summary of all information material to the	Not relevant
Information	understanding of the exploration results including a
	tabulation of the following information for all Material
	drill holes:
	o Easting and northing of the drill collar
	o Elevation of RL (Reduced Level –
	elevation above sea level in metres) of
	the drill collar
	o Dip and azimuth of the hole
	o Down hole length and interception depth
	o Hole length

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Data	In reporting Exploration Results, weighting averaging techniques,	In reporting Exploration Results, weighting averaging techniques,	No aggregation or averaging was conducted on
aggregation	maximum and/or minimum grade truncations (eg cutting of high grades)		the data reported here.
methods	and cut-off grades are usually Material and should be stated.
	Where aggregate intercepts incorporate short lengths of high grade results
	and longer lengths of low grade results, the procedure used for such
	aggregation should be stated and some typical examples of such
	aggregations should be shown in detail.
	The assumptions used for any reporting of metal equivalent values should
	be clearly stated.
Relationship	These relationships are particularly important in the	The true orientation of the pegmatite hosted Li mineralisation is not
between	reporting of Exploration Results.	known.
mineralisation	If the geometry of the mineralisation with respect to
widths and	the drill hole angle is known, its nature should be
intercept	reported.
lengths	If it is not known and only the down hole lengths are
	reported, there should be a clear statement to this
	effect (eg‘down hole length, true width not known’).
Diagrams	Appropriate maps and sections (with scales) and	See Figures 1 and 2.
	tabulations of intercepts should be included for any
	significant discovery being reported These should
	include, but not be limited to a plan view of drill hole
	collar locations and appropriate sectional views.
Balanced	Where comprehensive reporting of all Exploration	See Table 1 for comprehensive assay listings.
reporting	Results is not practicable, representative reporting of
	both low and high grades and/or widths should be
	practiced to avoid misleading reporting of
	Exploration Results.
Other	Other exploration data, if meaningful and material,	No substantial new information is available other than that reported
substantive	should be reported including (but not limited to):	above.
exploration	geological observations; geophysical survey results;
data	geochemical survey results; bulk samples – size and
	method of treatment; metallurgical test results; bulk
	density, groundwater, geotechnical and rock
	characteristics; potential deleterious or
	contaminating substances.
Further work	The nature and scale of planned further work (eg	Mineralogical work is	continuing, and further sampling may be
	tests for lateral extensions or depth extensions or	required prior to drill testing.
	large-scale step-out drilling).
	Diagrams clearly highlighting the areas of possible
	extensions, including the main geological
	interpretations and future drilling areas, provided this
	information isnot commercially sensitive.

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