Aldoro Resources : Narndee Project VC1 Target Update

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ASX and Media Release

18 March 2022

Narndee Project VC1 Target Update

• New assay results received for two additional Narndee Project drillholes at the VC1 anomaly
• Confirmation of Nickel & Copper mineralisation within both holes
• VTEM survey completed with full reporting of results expected shortly
• HPFLTEM surveys ongoing and due for completion within a week

Aldoro Resources Limited (Aldoro, The Company) (ASX: ARN) is pleased to provide an exploration update for the VC1 target at the Narndee Igneous Complex (NIC, The Project). Assay results have been returned for diamond core holes NDD0009 and NDD0019 at VC1.

Figure 1. Geologist logging drill core from NDD0019.

Assay results have been received for two additional drillholes at the VC1 target. Significant wet chemistry intercepts were returned from the drillholes as follows:

NDD0009

• 0.55m at 0.87% Ni, 0.14% Cu and 0.06% Co from 109.45m

NDD0019

• 1.5m at 0.76% Ni, 0.29% Cu and 0.06% Co from 150.05m

ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | [phone]

SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005

http://www.aldororesources.com

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Figure 2. Plan projection showing completed and planned drillhole pierce points of the VC1 target and an evolving interpretation of the

magmatic sulphide footprint. Note, NDP means a planned pierce point.

Figure 3. Cross-section of NDD0019 at 6804740m north (MGA50).

ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | [phone]

SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005

http://www.aldororesources.com

For personal use only

Figure 4. Cross-section of NDD0009 at 6804660m North (MGA50)

VTEM Update

The Priority 1 VTEM survey is now completed. The survey screened the Kiabye Greenstone Belt (KGB) along the western margin of the Narndee Igneous Complex (NIC). The KGB is interpreted to be a possible feeder or basal unit of the NIC. This represents a high priority exploration target for nickel- copper sulphide deposits. The results of this survey will be reported when final datasets are received and interrogated.

ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | [phone]

SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005

http://www.aldororesources.com

For personal use only

Figure 5. Geological map of the NIC, showing the location of all relevant targets and the VTEM extension surveys.

HPFLTEM Update

A large loop HPFLTEM survey is ongoing over the VC1, VC3, and VC11 target areas. This survey aims to detect large, highly conductive, and possibly deeper metallic bodies that would have been difficult for the VTEM system to detect. The results of this program will be reported in detail as they come to hand.

ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | [phone]

SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005

http://www.aldororesources.com

For personal use only

Figure 6. Plan showing HPFLTEM loop layouts in the VC1 and VC3 areas.

ALDORO RESOURCES LIMITED | ABN 31 622 990 809 | [phone]

SUITE 2, 1 ALTONA STREET WEST PERTH, WA 6005

http://www.aldororesources.com