Ann: Drilling Underway at Slate Dam Gold Project, page-2

DRILLING UNDERWAY AT SLATE DAM GOLD PROJECT HIGHLIGHTS • 2nd Phase Drilling Program underway at Slate Dam - 9 RC holes for ~1,000m completed to date • Program designed to expand the gold mineralised system discovered in 1st Phase drilling program at Slate Dam • Program includes: o 12 holes to test grade and dimensions of mineralised zones o 8 holes to seek repetitions of mineralised shales to the east o 6 holes will test the 440ppb gold soil anomaly to the north • Alteration and structure with stratigraphy visible in drill chips from the current program, with fine grained pyrites evident in shales • First assays sent for laboratory analysis – drilling to be completed by end of month • Stratigraphic drilling program then to commence at nearby Beowulf Gold Project • Slate Dam further expanded by acquisition of Exploration Licence in southern area of Project Aruma Resources Limited (ASX: AAJ) is pleased to announce that the second phase of drilling at the Company’s 100%-owned Slate Dam Gold Project in the Eastern Goldfields of Western Australia has commenced and is now well underway. Drilling at Slate Dam commenced Wednesday the 11th of April, and the program has made strong progress. To date, Aruma has completed nine holes for a total of approximately 1,000 metres of Reverse Circulation (RC) drilling, out of a planned program of up to 30 holes for approximately 4,000 metres (with planned drilling depths up to 200 metres). The Company advises that in line with its sediment-hosted gold model at the Slate Dam Project, alteration and structure with stratigraphy are visible in drill chips from the current program, with fine grained pyrites evident in shales. The first assays from completed holes have been sent for laboratory analysis. Results from the drilling at Slate Dam and Beowulf will be reported when they are all received and interpreted. ASX: AAJ Capital Structure 515M Shares on Issue 16M Options on issue Cash $1.4M Board of Directors Non-Executive Chairman Paul Boyatzis Managing Director Peter Schwann Non-Executive Director Mark Elliott Company Secretary Phillip MacLeod Active Gold Projects SLATE DAM PROJECT BEOWULF PROJECT Head Office Level 1, 6 Thelma Street West Perth, WA 6005 T +61 8 9321 0177 F +61 8 9226 3764 E [email protected] W www.arumaresources.com Postal Address Locked Bag 2000, Nedlands, WA 6909 ABN 77 141 335 364
This phase of drilling at Slate Dam is also expected to be completed by the end of the month. A stratigraphic program will then commence at the nearby Beowulf Gold Project. About the Slate Dam Drilling Program The second phase of drilling at Slate Dam is designed to follow up from the Company’s successful maiden drilling program completed in February (ASX announcements, 1 February and 21 February 2018), which resulted in the discovery of a significant new gold system at Slate Dam. The current drill program includes; • Completed holes to date are red stars in Figure 1 • Extensional holes (blue stars in Figure 1) which will follow up the 20 metre thick trend identified in Aruma’s maiden drill program; • Repetition holes (green stars in Figure 1) with the aim of discovering stratigraphic repetitions of the gold mineralised system to the east; and • Drilling will also target the recently discovered major, 440ppb gold anomaly, located to the north of the Company’s previous drilling at Slate Dam (ASX announcement, 15 February 2018). Drilling will seek to extend the dip and strike potential of the major gold shoots identified in the first phase of drilling, and also define higher grade lodes within these shoots (refer Figure 1 for planned drill hole locations).