ASX Release

20 March 2017

Alloy Resources Limited ABN 20 109 361 195

ASX Code AYR

Executive Chairman Mr Andy Viner

Non-Exec Director Mr Allan Kelly

Non-Exec Director/Co Sec Mr Kevin Hart

Issued Shares 966,993,360

Unlisted Options 29,000,000

Emailinfo@alloyres.com

Websitewww.alloyres.com

Principal Office

+61 (8) 9322 9903

Level 3, 35 Havelock St West Perth WA 6005

Postal & Registered Office

+61 (8) 9316 9100

Suite 6, 7 The Esplanade Mt Pleasant WA 6153

Ophara Cobalt Exploration Update
  • Field work recommences to define new drill targets
  • Ground inspection of historical aerial EM anomalies interpreted to be stronger sulphide conductors.
  • Field and data review of Great Goulburn cobalt mineralisation trends and extensions.
  • Aim to complete target definition in and around the Great Goulburn prospect in coming weeks for follow up drill testing of priority areas.

Summary

Alloy Resources Limited (ASX: AYR, Alloy or the Company) is pleased to advise of continued exploration at the Ophara Project located 50 kilometres west of Broken Hill in New South Wales.

Results from recent RC drilling and historical data compilation indicates the potential for widespread gold-cobalt mineralisation within the Great Goulbourn Project area.

The Company believes that the Great Goulburn Prospect has only advanced as a prospect because of some limited areas of outcrop of mineralisation that has been obvious to early explorers.

Field checking of GEOTEM anomalies (figure 1 below) is being pursued prior to any decision to complete new EM surveying. Satellite photography indicates that many of the interpreted anomalies are in largely unexplored areas and may be suitable for rock chip and/or soil sampling.

Following this field work the Company expects to be able to define priority targets for continued exploration, including RAB and RC drill testing.

Andy Viner

Executive Chairman

Phone: +61 8 9316 9100

www.alloyres.com

Figure 1 GEOTEM Channel 12 N shade Image with interpreted conductive units. Exploration Results

Information in this report which relates to Exploration Results is based on information compiled by Andrew Viner, a Director of Alloy Resources Limited and a Member of the Australasian Institute of Mining and Metallurgy, Mr Viner has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves." Mr Viner consents to the inclusion in the report of the matters based on this information in the form and context in which it appears. Mr Viner is a shareholder and option holder of Alloy Resources Limited.

Alloy Resources Limited published this content on 20 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 March 2017 10:44:03 UTC.

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