Aruma Resources Limited (ASX: AAJ) (Aruma or the Company) is pleased to provide the following update on its plans for the first phase of drilling at the Saltwater Gold Project.

The Saltwater Gold Project consists of the eight granted Exploration Licences for a total area of 701km2. The Project is located approximately 100 kilometres south-west of the regional mining centre of Newman.

The Project area covers a strike extent of more than 65km of the highly significant Nanjilgardy fault, the same regional structure reported as the primary source of gold mineralisation at Northern Star Resources' (ASX: NST) Paulsens Gold Mine and the Mt Olympus Gold Mine in the region.

Aruma advises that its drilling contractor Ausdrill expects to commence the maiden, 5,000 metre reverse circulation (RC), drilling program at the Saltwater Project in the last week of November.

Drilling is anticipated to take approximately 25 days to complete, and results are expected in late January 2021. As previously announced (ASX announcements, 27 October, 20 October and 23 September 2020), a reconnaissance mapping program, rock chip and soil sampling program has been completed targeting outcropping areas on the western end of a large 60km2 magnetic ring structure - the Saltwater Ring Structure.

This initial exploration program defined the area for initial drilling by identifying quartz veins, anomalous rock and soils with alteration and mineralisation identified in work by previous explorers to quickly identify drilling areas and targets.

Working Heritage Agreements with the JJAC for the Saltwater Project have been agreed, which has allowed the Heritage Survey to clear the area for the first drilling program.

Aruma subsequently received program of works (PoW) approval for up to 20,000 metres of drilling at Saltwater, and drill site and access preparation has been completed for the first phase of drilling at the Project.

EXPLORATION MANAGER APPOINTED

Aruma is pleased to advise of the appointment of Mr Mark Styles as Exploration Manager, effective 16th November 2020. Mr Styles graduated from the University of Western Australia with First Class Honours in Geology and has nearly 30 years' experience in the mining and exploration industry. His is a key appointment for Aruma and he will be a valuable member of the acquisition and evaluation team. Mr Styles is well qualified to advance the Company's portfolio of prospective gold exploration projects.

He has worked in the Yilgarn and Pilbara regions in Western Australia, Canada, Saudi Arabia and Tanzania. In addition, he has been involved in exploration and development of epithermal, porphyry, VMS, nickel sulphide and iron ore deposits. Aruma's board and management welcome Mr Styles to the Company and look forward to his positive contribution moving forward.

CORPORATE

Aruma is also pleased to provide an update on its cash position. As of 10 November 2020, the Company had a cash balance of approximately $3.7 million, which includes an R&D tax refund on $162,000 before costs and $450,000, being the second tranche of payment from Black Cat Syndicate (ASX: BC8) for the sale of the Slate Dam Project to BC8. Details of the Sale and Purchase Agreement with BC8 are provided in ASX announcement of 7 October 2020.

Contact:

Peter Schwann

Tel: +61 417 946 370

Email: info@arumaresources.com

Forward Looking Statement

Certain statements contained in this document constitute forward looking statements. Such forward-looking statements are based on a number of estimates and assumptions made by the Company and its consultants in light of experience, current conditions and expectations of future developments which the Company believes are appropriate in the current circumstances. These estimates and assumptions while considered reasonable by the Company are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, achievements and performance of the Company to be materially different from the future results and achievements expressed or implied by such forward-looking statements. Forward looking statements include, but are not limited to, statements preceded by words such as 'planned', 'expected', 'projected', 'estimated', 'may', 'scheduled', 'intends', 'anticipates', 'believes', 'potential', 'could', 'nominal', 'conceptual' and similar expressions. There can be no assurance that Aruma plans to develop exploration projects that will proceed with the current expectations. There can be no assurance that Aruma will be able to conform the presence of Mineral Resources or Ore Reserves, that any mineralisation will prove to be economic and will be successfully developed on any of Aruma's mineral properties. Investors are cautioned that forward looking information is no guarantee of future performance and accordingly, investors are cautioned not to place undue reliance on these forward-looking statements.

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