Aeris Resources : TRITTON EXPLORATION UPDATE

July 27 2017 ASX/MEDIA RELEASE AERIS RESOURCES LIMITED (ASX: AIS) TRITTON EXPLORATION UPDATE Highlights:

• Multiple new anomalies identified including two anomalies within five kilometres of Tritton Copper Operations' processing facility
• EM survey over Tritton and Kurrajong corridors now 50% complete
• Helicopter-borne survey conducted over underexplored northern and southern extremities of tenement package

Aeris Resources Limited (Aeris) is pleased to provide an update of its recent exploration activities.

On 28 July 2016, Aeris announced that it was ramping-up greenfields exploration on its Tritton tenement package and would spend $7.5M over the next two years.

This exploration program is focused on exploring for deeper/concealed mineralised systems within the known Tritton and Kurrajong stratigraphic corridors, utilising new high power electromagnetic (EM) geophysical techniques which have the ability to identify a conductive body to depths in excess of 500m below surface. A Moving Loop Transient Electromagnetic (MLTEM) geophysical survey program commenced in December 2016 and was 50% complete at the end of the financial year.

During the March quarter a helicopter-borne electromagnetic geophysical survey (VTEM- Max) was also undertaken on the relatively underexplored northern and southern extremities of the Tritton tenement package, targeting bedrock conductors within 300m from surface.

Aeris Executive Chairman Andre Labuschagne said: "While it is early days, the results of the revitalised greenfields exploration program being carried out on the Tritton tenement package are highly encouraging and confirm the prospectivity of this region. We will look to build on this early success in the coming year."

Aeris currently holds 184,600 hectares in the prospective Tritton VMS district (see Figure 1). This is made up of six exploration and three mining leases. Copper mineralisation is hosted within two stratigraphic corridors proximal to major mafic complexes of which six have been identified with a combined strike length of greater than 100km. Numerous anomalies have been identified and remain untested in the Tritton region (see Figures 2 and 3).

Figure 1: Tritton tenement package Figure 2: Exploration Projects and Prospects on Tritton tenement package

On 28 July 2016, Aeris announced that it was ramping-up greenfields exploration on its Tritton tenement package and would spend $7.5M over the next two years (See ASX Announcement dated 28 July 2016 for more information). This exploration program is focused on exploring for deeper/concealed mineralised systems within the known Tritton and Kurrajong stratigraphic corridors utilising new high power electromagnetic (EM) geophysical techniques which have the ability to identify a conductive body to depths in excess of 500m below surface.

A Moving Loop Transient EM (MLTEM) survey program commenced in December 2016 and by the end of the financial year was 50% complete. The extent of the MLTEM program is highlighted in Figure 3 (magenta and orange shaded regions) and is designed to detect for large "Tritton" sized orebodies (+10Mt). Known deposits within the Tritton tenement package are directly detectable via EM methods. Extensive EM surveys completed within the tenement package during the mid-1990s led to the discovery of the Tritton deposit.

Figure 3: Tritton region showing Aeris Resources Tritton tenement package and prospective corridors for copper mineralised systems. The planned MLTEM geophysical survey coverage is highlighted by shaded orange regions and completed survey areas by shaded magenta regions.