Tyranna Resources : Completion of Sale of Wilcherry Project and Kimba Camp

13 March 2019

TYRANNA COMPLETES WILCHERRY PROJECT DIVESTMENT

Tyranna Resources Limited (ASX: TYX) ("Tyranna" or "the Company") wishes to advise the completion of the sale for the following non-core assets:

•  Tyranna's remaining interest (approximately 18.59%) in the Wilcherry Project (Project), and

•  An 80-person camp on leasehold land located in the township of Kimba, South Australia,

The Tranche 3 payment of $750,000 completes the 3-tranche agreement totalling $1.5 million.

•  Tranche 1 -Payment of an Initial Deposit to Tyranna of $350,000 within 2 business days of execution;

•  Tranche 2-Payment of the Second Deposit of $400,000 on or before 30 days after payment of the Initial Deposit;

•  Tranche 3-Payment of $750,000 on completion, governed by conditions precedent which include statutory consents.

Commenting on the divestment completion, Managing Director Mr Bruno Seneque said:

"This final receipt of $750,000 completes Tyranna's sale of its joint venture holding in Wilcherry, which now allows us to focus clearly on our 100% owned gold project at the Eureka gold mine in the Kalgoorlie region of Western Australia.

Ongoing Eureka Project exploration activity continues to deliver excellent drill results and clearly validates our decision to acquire what we believe will be a potential near term gold production asset for Tyranna Resources."

For more information please contact:

Level 2, 679 Murray Street, WEST PERTH WA 6005 | PO Box 1124, WEST PERTH WA 6872

T +61 8 9485 1040 | F +61 8 9485 1050 | Einfo@tyrannaresources.com| W tyrannaresources.com

ASX TYX | ABN 79 124 990 405

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