Ann: Mineral Resource Estimate - Four Mile Northeast, page-2

MINERAL RESOURCE ESTIMATE Four Mile Northeast Uranium Prospect The Directors of Alliance Resources Ltd (Alliance) are pleased to advise a Mineral Resource Estimate for the Four Mile Northeast (FMNE) uranium prospect, as follows: At a cut-off of 0.1 m% U3O8, the estimated Inferred Mineral Resource for FMNE is:  7.5 million tonnes averaging 0.30% U3O8, containing 50.0 million pounds U3O8 Remaining exploration potential at FMNE, expressed as an Exploration Target1 estimate, is:  4 Mt to 7 Mt averaging 0.25% to 0.30% U3O8 The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource for the areas covered by the Exploration Target. Background AMC Mining Consultants (Canada) Ltd (AMC) was retained by Alliance Craton Explorer Pty Ltd (ACE) to prepare a Mineral Resource estimate for the FMNE uranium prospect located in South Australia, and to report in accordance with the requirements of the 2012 JORC Code. Previous Exploration Target estimates2 for FMNE were reported by ACE in February 2014 and March 2015. The Project area is located 550 kilometres north of Adelaide. Alliance’s 100% owned subsidiary, Alliance Craton Explorer Pty Ltd (ACE) is the registered holder of 25%3 of ML6402 and EL5017. Quasar Resources Pty Ltd (Quasar) is the registered holder of 75% and acts as manager of the Project. The FMNE prospect is located approximately 8 km northwest of the Beverley uranium mine, operated by Heathgate Resources Pty Ltd (Heathgate), an affiliate of Quasar, using in-situ recovery (ISR) extraction.