Washihi Copper-Gold Project Exploration Update

DFS Status • Draft DFS report received. Review is in progress • DFS comprises 17 volumes and approximately 3,000 line items of bill of quantities • Initial review indicates that: • Plant, equipment and mine designs are fundamentally sound Alaa resources • • • Mine scheduling required further optimisation including the potential to add Zone 1 to the mine schedule Much of the 'costing estimates' were based on Australian and other international cost structures with only a small portion based on actual Saudi Arabian inputs Review process being conducted by the Company and consultants have identified some areas requiring further examination. Local cost inputs have since been obtained O Alara Resources Limited www.alararesources.com 9

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