Kennecott Exploration Company Exploration Activities April through November 2020

On November 18, 2020, Alderan Resources Limited announced that Rio Tinto’s subsidiary Kennecott Exploration Company (KEX) has satisfied its One Million Dollar (US$1,000,000) expenditure commitment during the third quarter of 2020.

Since April, KEX completed nine holes testing the mineral potential of the Cactus and Horn Leases. While assay results are still pending for most holes, SAWM-0011 intersected mineralised breccia from 219m to 285m with an average grade of a 66m section of 1% Cu, 0.33 g/t Au, 4.2 g/t Ag and 37 ppm Mo. This includes a higher grade interval from 252m to 285m with an average grade of 1.9% Cu, 0.65 g/t Au, 7.1 g/t Ag and 68 ppm Mo.

This information is extracted from various announcements made on Alderan’s website (alderanresources.com.au). These announcements contain considerable additional detail and shareholders are encouraged to review Alderan announcements relating to this exploration program, including information included in the Quarterly Activities Reports.

Additional assay results will be announced as they become available. Field activities were completed in August 2020 and a total of 23 proposed drill sites have been submitted to the BLM and/or UDOGM for permitting.

Tetra Tech has been contracted to conduct cultural surveys for 33 proposed new drill sites and associated trails on claims subject to the Option Agreement.

Further drilling at Frisco will be subject to approval of 2021 exploration budgets by KEX.