23 Nov

Mt Deans Lithium Project Heritage Survey Complete

Aruma Resources Limited is a proud supporter and member of the Association of Mining and Exploration Companies, 20 21 23 November 202 1 Mt Deans Lithium P roject Heritage Survey Complete Drilling has commence d at Saltwater and is ongoing at Salmon Gums Gold Projects Highlights • Heritage Survey for drilling Mt Deans Li - Ta Project complete - f inal approval for drilling • D rilling to commence immediately upon rig availability • Program to consist of u p to 3 ,000m RC drilling to define interpreted pegmatite Cauldron • Next phase of drilling at Saltwater Gold Project to commence this week - ~2,000m to follow - up successful first phase drilling • Drilling ongoing at Salmon Gums Gold Project - ~ 1,000m completed with positive initial observations Aruma Resources Limited ( Aruma) is pleased to announce the completion of the Heritage Survey at the Mt Deans Lithium Tantalite Project (P63/2063) in the Goldfields region of Western Australia - the final approval for drilling at the Project . Aruma views Mt Deans Project as being highly prospective for lithium m inerals, as wells as tantalum and rare earth element (REE) minerals. Previous exploration has identified swarm pegmatites over a strike length of 1 kilometre. The first phase of drilling at Mt Deans will comprise approximately 3,000m of reverse circulation (RC) drilling to confirm the presence of a thick pod of pegmatite interpreted from convergent dips seen in historic drilling. The program is designed to intersect an interpreted pegmatite chamber o r ‘cauldron’. Drilling is planned to a maximum hole depth of 200 metres, with holes spaced approximately 50 metres apart. The Company will advise of the commencement of drilling. The Mt Deans Project sits within the lithium corridor in south - east WA, wh ich hosts multiple significant hard - rock lithium projects. It is interpreted ASX: AAJ Ca pital Structure 1 2 6 M Shares on Issue 22M Options on issue Board of Directors Non - Executive Chairman Paul Boyatzis Managing Director Peter Schwann Non - Executive Director Mark Elliott Company Secretary Phillip MacL eod Exploration Manager Stephen Denn Gold Projects - 1, 696 km 2 Norseman SCOTIA SOUTH - 222 km 2 Pilbara MELROSE - 3 72 km 2 SALTWATER - 744 km 2 NSW Lachlan Fold Belt CAPITAL - 358 km 2 Li Ta Project - Norseman MT DEANS 1.44 km 2 Head Office Level 1, 6 Thelma Street West Perth, WA 6005 T +61 8 9321 0177 F +61 8 9226 3764 E info@arumaresources.com W www.arumaresources.com Postal Address PO Box 152 West Perth , WA 6 872 ABN 77 141 335 364 Aruma Resources Limited is a proud supporter and member of the Association of Mining and Exploration Companies, 20 21 . to sit within the same host rocks and structures as the significant nearby Mt Marion, Bald Hill and Buldania Lithium Projects. Second Phase of Drilling commence d at Saltwater Gold Project Aruma is also pleased to advise that the next phase of drilling at the Saltwater Gold Project in the Pilbara region of WA commence d this week . D rilling is planned to consist of 20 RC holes for approximately 2,000m . It will foll ow - up the successful first phase o f drilling, which resulted in the definition of a potential new gold camp (ASX announcement, 17 February 2021 ). Drilling is designed to test the carbonate/shale fault (Nanjilgardy Fault) boundary at Saltwater , a similar structure to Kalamazoo Resources’ (ASX: KZR) Mt Olympus Gold Project in the region . The program is expected to take two weeks to complete, and results will be released when available . A close spaced aeromagnetic survey has been completed over the eastern section of the targeted Saltwater Dome and will be integrated into the existing base maps. The full Dome will then be mapped and sampled in the new year. Drilling Progressing at Salmon Gums Gold Project The Company also advises that it s maid en drilling program at the Salmon Gums Gold Project (EL63/2037, EL63/2122) in WA’s Goldfields is ongoing and progressing well. To date, approximately 1, 0 00m of RC drilling has been completed in 1 2 holes of a planned program of up to 5,000m across up to 50 holes - comprising up to 10 lines of drilling with up to eight holes in each line. Drilling has focused on a target area south of the current known mineralisation outside the geochemical survey area . Aruma is encouraged by initial observations from the drilling to date. C arbonate sericite pyrite alteration is evident in mafic - to - ultramafic host rocks , which is consistent with the Company’s explo ration model. The Salmon Gums Project co vers a total area of 222km 2 , approximately 200km south of Kal goorlie , and 60km south of the mining town of Norseman. The Project is situated 30km south and directly along strike in the same stratigraphy as Pantoro L imited’s (ASX: PNR) rapidly expanding highgrade Scotia Gold Project. Authorised for release by Peter Schwann, Managing Director. Aruma Resources Limited is a proud supporter and member of the Association of Mining and Exploration Companies, 20 21 . For further information please contact: Peter Schwann James Moses Managing Director Media and Investor Relations Aruma Resources Limited Mandate Corporate Mobile: +61 417 946 370 Mobile: +61 420 991 574 E : info@arumaresources.com E: james@mandatecorporate.com.au Competent Person’s Statement The information in this release that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Peter Schwann who is a Fellow of the AIG. Mr Schwann is Managing Director and a full - time employee of the Company. Mr Schwann has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Re porting of Exploration Results, Mineral Resources and Ore Reserve’. Mr Schwann consents to the inclusion in the release of the matters based on his information in the form and context in which it appears. All exploration results reported have previously be en released to ASX and are available in the Western Australian DMIRS WAMEX and MINEDEX Reports . The Company confirms it is not aware of any new information that materially affects the information included in the original reports . The Company confirms that the form and context in which the Competent Person’s findings are presented have not been mater ially modified from the original announcements. Forward Looking Statement Certain statements contained in this document constitute forward looking statements. Such forward - looking statements are based on several estimates and assumptions made by the Com pany and its consultants in light of experience, current conditions and expectations of future developments which the Company believes are appropriate in the current circumstances. These estimates and assumptions while considered reasonable by the Company are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, achievements and performance of the Company to be materially different from the future results and achievements expressed or implied by such forward - looking statements. Forward looking statements include, but are not limited to, statements preceded by words such as “planned”, “expected”, “projected”, “estimated”, “may”, “scheduled”, “intends”, “anticipates”, “believes”, “potential”, “could”, “nominal” , “conceptual” and similar expressions. There can be no assurance that Aruma plans to develop exploration projects that will proceed with the current expectations. There can be no assurance that Aruma will be able to conform the presence of Mineral Resourc es or Ore Reserves, that any mineralisation will prove to be economic and will be successfully developed on any of Aruma’s mineral properties. Investors are cautioned that forward looking information is no guarantee of future performance and accordingly, i nvestors are cautioned not to place undue reliance on these forward - looking statements.

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