Phase I RC Drill Program Completed at Niobe

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ASX and Media Release

27 January 2022

Phase I RC Drill Program Completed at Niobe

• Completed seventeen RC holes at Niobe, with forty-seven holes still to be drilled
• All seventeen holes intersected thick pegmatite intervals at multiple levels below the surface
• Pegmatite intersections confirm those from historical drilling
• Standout intersections were NBRC008 with 21m of pegmatite from 36m downhole, and NDRC009 with 14m of pegmatite from 40m downhole, ending in pegmatite

Aldoro Resources Limited (Aldoro, The Company) (ASX: ARN) is pleased to provide an exploration update for the Mineral Resource drilling program at the Niobe Project. Seventeen holes have been completed, with a further forty-seven to be drilled. All holes have intersected significant pegmatite bodies, confirming and extending historic drilling results.

Figure 1. Photo looking across Niobe east to Niobe Main Pit flanked by mineralised pegmatite excavations. Large clusters of botryoidal

Zinnwaldite is visible in the large block excavated from the main pit.

Results of the first phase of drilling at Niobe have been very encouraging, with intersections of pegmatites confirming historical drilling, where Rubidium (Rb) assays were rarely collected. Pegmatite intersections have been as thick or thicker and located where predicted in the first seventeen holes, a positive sign for the robustness of the Project.

Abundant mica species have been identified in geological logs, further encouraging the ongoing drill program.

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Figure 5. Cross-section at 526350m east, MGA94 grid, showing NBRC010 and NBRC011 visual results

Forward Plan

The drilling program is continuing to completion, with the aim of estimating a JORC 2012 reportable Mineral Resource once all assay results have been received.

The RC rig will then mobilise to the Wyemandoo Project, where an extensive greenfields drill program is planned.