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High Grade Results Returned from Diorite Sampling Programme

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High Grade Results Returned from Diorite Sampling Programme ASX / MEDIA ANNOUNCEMENT 27 July 2020 ABN: 72 002 261 565 High grade results returned from Diorite sampling programme Highlights: Diorite rock chip sampling program returns high grade results including: o 21 g/t gold and 2.10 g/t silver from the historic Unexpected mine dump o 9.04 g/t gold and 9.59 g/t silver from the historic Unexpected mine (in‐situ) o 6.09 g/t gold from the historic Unexpected mine (in‐situ) o 7.49 g/t gold and 0.96 g/t silver from the historic Diorite King shaft (in‐situ) Diorite soil sampling program returns high grade results up to 5.52 g/t gold from the Kiora/Meteor historic mine area High grade results found in the vicinity of the historic 73 g/t Diorite King mine Prospective areas to be followed up during the upcoming drilling campaign Drilling across the Mt Stirling Gold Project to begin in Q3 2020 Desktop work on the Mt Monger project is ongoing Drilling scheduled to commence at Zuleika by the end of July Torian Resources Limited (Torian or the Company) is pleased to release the results of its June 2020 rock chip and soil sampling programme on its 100% owned Diorite Block. Excellent high grade gold results have been returned from soils and rock chip samples. Torian Executive Director Mr Peretz Schapiro said, “Our recent reconnaissance soil and rock chip sampling programme has now produced a cluster of large gold anomalies within the Diorite Block. Of particular encouragement, is the fact that most of the higher-grade rock chip and soil results were sourced in the vicinity of the historic 73 g/t Diorite King mine [grade sourced from Mindat.org] and other adjacent historic producing mines (Table 1 and Figure 11). These assays increase our confidence that we are looking in the right areas, with our next task to vector in on the zones that contain higher grade gold. The collation of the current programme; geological reconnaissance and mapping recently completed and historic soil and rock chip samples; now provide Torian’s geological team with a pathway forward to define exploration targets and commence an exploration drilling programme once permits are granted. We aim to begin drilling at the Diorite Block in Q4 2020. With almost 13 Moz in resource located within our immediate neighbourhood and across Red 5’s King of the Hills, St Barbara’s Gwalia and Saracen’s Thunderbox mines, all , we are confident that this Leonora region is a great location to be pursuing new major discoveries. We intend to undertake a systematic exploration approach across the entire project area. We look forward to keeping the market updated on progress.” Exploration Planning The Company’s geological team will now begin to plan an initial drilling campaign on the Diorite Block. The soil and rock chip samples will be used in conjunction with gold path-finder elements including arsenic, bismuth, molybdenum, tellurium, antinomy and tungsten to define drill targets over the Diorite Block. Further details as to the precise nature of the campaign will be announced to the market in due course. Table 1. Historical gold production and grade from mines in the Diorite King area. Production Period Ore Average Gold Gold Produced Mine From To (tonnes) Grade (g/t) (ounces) Diorite King 1897 1922 1134 73 2,917 Young Australian 1897 1899 116.34 34.3 140 Kiora 1900 1901 87.38 22 69.5 Lady Mae 1902 1905 95 23.3 81.5 Meteor 1902 1906 88.4 11 34.2 Rose of Diorite 1908 1908 189 18.7 124.5 Diorite Queen 1909 1909 146.4 9.8 50.8 Unexpected 1922 1923 119.38 47.2 198.9 Wotan 1937 1938 100 73 257.8 Source: Mindat.org Diorite Block – Soil Sampling Results A total of 157 soil samples were collected from the Diorite Block. High grade gold assay values of 5.52 g/t Au (DIS002) and 3.2 g/t Au (DIS001) were collected adjacent to the historic Kiora and Meteor mines. A total of 89 soil samples returned anomalous gold values > 5 ppb. Figures 1 and 2 (below) show combined soil sample locations from June 2020 (157 samples) and historically (268 samples) over geochemical imagery of gold and arsenic in soils respectively. Figure 2 demonstrates that gold path finder element arsenic (As) correlates moderately with the gold in soil samples. 2 Figure 1. Geochemical gold in soils heat map showing soil sample locations collected in 2020 and historically. 3 Figure 2. Geochemical arsenic in soils heat map showing soil sample locations collected in 2020 and historically. 4 Soil sample assay results >= 40ppb collected by the Company in June 2020 are shown in Table 2; all assay results are tabulated at Appendix A. Table 2. Soil assay results >= 40ppb Au Gold Pathfinder Elements Au Ag As Bi Mo Te Sb W Sample ppb g/t ppm ppm ppm ppm ppm ppm DIS002 5520 0.32 3.1 0.26 0.53 0.06 0.15 0.28 DIS001 2300 0.12 2.1 2.28 0.09 0.41 0.05 28.30 DIS110 140 0.07 1.4 6.74 0.81 2.27 0.09 0.61 DIS107 136 0.05 1.4 4.15 1.05 1.25 0.07 0.78 DIS005 64 0.02 2.5 0.32 0.42 0.04 0.14 <0.05 DIS075 60 0.03 2.7 0.39 0.29 0.07 0.09 0.10 DIS033 57 0.02 2.8 0.37 0.28 0.09 0.11 0.21 DIS003 56 0.05 3.9 0.08 0.22 0.02 <0.05 0.32 DIS042 51 0.03 1.5 0.30 0.21 0.02 0.07 0.20 DIS034 49 0.03 2.2 0.33 0.26 0.04 0.08 0.20 DIS004 47 0.02 2.6 0.22 0.30 0.09 0.10 0.41 DIS009 44 0.02 3.1 0.14 0.13 0.14 0.05 0.17 DIS056 41 0.02 1.8 0.29 0.39 0.05 0.10 0.10 DIS010 40 0.02 3.9 0.21 0.47 0.04 0.13 0.08 Figure 3. Kiora/Meteor mine area where dump soil sample DIS001 assayed 2.3 g/t Au (Table 1) and dump rock chip sample DIR018 assayed 1.87 g/t Au (Table 3). 5 Diorite Block – Rock Chip Sampling Results A total of 105 rock chip samples were collected from the Diorite Block. Excellent high-grade assay values were returned as follows: DIR027 21 g/t gold and 2.10 g/t silver in-situ dolerite quartz vein sample from Lady Mae mine area (Figure 4a) DIR066 9.04 g/t gold and 9.59 g/t silver in-situ mafic schist sample from Unexpected mine area (Figure 4b) DIR067 6.09 g/t gold dolerite quartz vein dump sample from Unexpected mine area DIR065 1.6 g/t gold in-situ basalt sample from Unexpected mine area DIR032 7.49 g/t Au and 0.96 g/t Ag in-situ dolerite quartz vein sample taken from Diorite King mine (Figure 4c) DIR018 1.87 g/t gold dump sample taken from Meteor/Kiora mine area DIR016 0.44 g/t gold in-situ felsic sample taken from Meteor/Kiora mine area (Figure 4d) Figure 4b. Mafic schist outcrop where rock Figure 4a. Dolerite quartz vein where rock sample DIR066 assayed 9.04 g/t gold and 9.59 sample DIR027 assayed 21 g/t gold and 2.10 g/t g/t silver from the Unexpected mine area silver at the Lady Mae mine area Figure 4c. Diorite King shaft where dolerite quartz Figure 4d. Meteor/Kiora shaft where felsic vein sample DIR032 assayed 7.49 g/t gold sample DIR016 assayed 0.44 g/t gold 6 Figures 5 and 6 shows the Company’s combined rock chip sample locations from June 2020 (105 samples) and historically (86 samples) over geochemical imagery of gold and arsenic in soils respectively. Figure 6 demonstrates that gold path finder element arsenic (As) correlates moderately with gold in rock chip samples. Figure 5. Geochemical gold in soils heat map showing rock chip sample locations collected in 2020 and historically. 7 Figure 6. Geochemical arsenic in soils heat map showing rock chip sample locations collected in 2020 and historically. 8 Rock chip sample assay results >=40ppb collected in June 2020 are shown in Table 3, all assay results are tabulated at Appendix B. Table 3. Rock chip sample assay results from June 2020 >= 40ppb Au Gold Pathfinder Elements Au Ag As Bi Mo Te Sb W Sample ppb g/t ppm ppm ppm ppm ppm ppm DIR027 21000 2.10 2.9 0.42 0.29 0.05 <0.05 3.51 DIR066 9040 9.59 0.5 0.08 0.68 0.07 <0.05 0.88 DIR032 7490 0.96 3.3 1.16 0.23 0.25 0.05 4.02 DIR067 6090 0.41 1.4 0.02 0.26 0.01 <0.05 24.50 DIR018 1870 0.03 0.5 0.90 1.04 0.12 <0.05 17.60 DIR065 1600 0.10 29.8 0.15 1.17 0.08 <0.05 0.33 DIR016 440 0.04 5.1 0.26 0.13 0.09 <0.05 5.69 DIR044 410 0.02 1.0 0.12 0.29 0.02 <0.05 0.29 DIR019 270 0.02 2.7 0.17 0.34 0.07 0.08 0.40 DIR095 180 0.02 2.2 0.55 0.45 0.11 0.07 1.90 DIR033 140 0.05 0.4 0.09 0.18 0.09 0.05 0.50 DIR002 120 0.07 0.3 14.10 2.20 1.32 <0.05 2.33 DIR020 120 0.03 3.4 0.08 0.31 0.02 0.05 1.18 DIR082 100 0.08 0.8 1.19 0.16 0.11 0.05 0.56 DIR001 90 0.07 1.5 1.07 0.89 0.09 0.05 0.40 DIR017 90 0.01 0.7 0.13 0.07 0.02 <0.05 0.39 DIR048 90 <0.01 0.3 0.11 0.19 0.01 <0.05 0.17 DIR007 80 0.02 1.2 0.09 0.21 0.02 0.06 0.09 DIR004 60 0.05 1.2 0.06 0.36 <0.01 0.05 0.19 DIR005 50 0.01 2.2 0.04 0.33 0.07 <0.05 0.11 DIR015 50 0.05 0.7 0.09 0.20 0.03 <0.05 0.26 DIR028 50 0.06 0.7 0.20 0.59 0.07 0.08 0.69 DIR006 40 0.03 2.4 0.03 0.13 0.07 <0.05 0.20 DIR010 40 0.04 2.7 0.04 0.12 0.06 <0.05 0.11 DIR026 40 0.06 0.8 0.21 0.21 0.02 <0.05 0.62 DIR036 40 0.03 0.7 0.07 0.56 0.02 <0.05 0.16 DIR050 40 0.02 0.3 0.16 <0.05 0.02 <0.05 0.18 DIR059 40 0.02 1.3 0.08 0.06 0.06 <0.05 0.24 DIR070 40 0.03 2.5 0.44 0.46 0.05 <0.05 0.58 9 Regional Geological Setting Diorite Project tenements are located in the Archaean Yilgarn Craton within the deformed Leonora greenstone belt adjacent to the Raeside granite batholith.
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