Aldoro Resources Ltd. announced that it has executed a non-binding Memorandum of Understanding (MOU) with True Gains Limited. The purpose of the MOU is to progress value accretive aspects to commercialisation and development of the Niobe project, including: securing a suitable joint venture partner and/or strategic investor for the exploration and development stages; and introduction of the Company and the Niobe project to potential off-takers for lithium and rubidium extracted from the Niobe project. Key terms of the MOU are summarised as follows: Niobe Offtake: The parties agree to collaborate and work together to secure one or more suitable off-take partners for the supply of rubidium and lithium extracted from the Niobe Project (Offtake Partner) with of the objective of entering into a long-term offtake and/or supply agreements with Offtake Partners on terms acceptable to Aldoro (Offtake Agreement).

Niobe Joint Venture: The parties agree to collaborate and work together to secure a suitable joint venture partner (or similar arrangement, such as farm-in or earn-in) for the Niobe Project (New Partner), who will be prepared to partner with Aldoro and contribute to exploration and development activities to be undertaken at the Niobe Project. Non-exclusivity: The MOU is not intended to be exclusive and the parties each acknowledge and agree that they may deal with other parties with respect to the subject matter of the MOU, whilst observing the terms of the MOU. Duration: Two Years.

Governing Law: Each party irrevocably submits to the non-exclusive jurisdiction of the courts exercising jurisdiction in Western Australia and courts of appeal from them in respect of any proceedings arising out of or in connection with the MOU. Assignment: Not permitted without consent.