Alara Resources Limited

Published : August 03rd, 2016

Closure of Renounceable Rights Issue

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Closure of Renounceable Rights Issue

Alara Resources Limited

A.B.N. 27 122 892 719

Level 11, 216 St Georges Tce Perth WA 6000, Australia

GPO Box 2517

Perth WA 6831

Telephone| +61 8 9481 0389

Facsimile | +61 8 9463 6103

Web | www.alararesources.com Email | [email protected]

ASX/MEDIA RELEASE

Wednesday, 3 August 2016

CLOSURE OF RENOUNCEABLE RIGHTS ISSUE

Alara Resources Limited (ASX: AUQ) (Company) is pleased to announce the successful completion of a renounceable pro rata entitlement offer of shares, made pursuant to the prospectus dated 8 July 2016 on the basis of 1 new share for every 7 existing share held at 14 July 2016 (Rights Issue).

A total of 72,287,857 shares were offered to eligible shareholders under the Rights Issue at an issue price of

$0.02 (2 cents) per share to raise approximately $1.45M before costs.

Acceptances of entitlement to 34,161,653 shares were received, along with applications for 11,534,941 additional shares and 160,000 shortfall shares to raise a total of $917,131.88.

The remaining shortfall of 26,431,263 shares will be dealt with in accordance with the procedures set out in the prospectus.

The Company is pleased with the outcome and the level of support it received from its shareholders and new investors, particularly in these difficult market conditions. The Board believes this reflects the quality of the Company's projects and the exciting milestones that Alara aims to achieve in the near future.

- ENDS -

For further information, please contact:

Justin Richard T | +61 8 9481 0389

Managing Director E | [email protected]

Elizabeth Hunt T | +61 8 9481 0389

Company Secretary E | [email protected]

About Alara Resources

Alara Resources Limited (ASX: AUQ) is an Australian-based minerals exploration and mine development company with a portfolio of projects in Saudi Arabia and Oman. Alara has completed a Definitive Feasibility Study (DFS) on its flagship Khnaiguiyah Zinc-Copper Project in Saudi Arabia and an Advanced Scoping Study on its Daris/Washihi Copper-Gold Project in Oman. The Company is now transitioning towards establishing itself as an emerging base and precious metals mine development and production company. For more information, please visit: www.alararesources.com.

ASX Code | AUQ

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Data and Statistics for these countries : Australia | Georgia | Oman | Saudi Arabia | All
Gold and Silver Prices for these countries : Australia | Georgia | Oman | Saudi Arabia | All

Alara Resources Limited

CODE : AUQ.AX
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Alara Resources LTD is based in Australia.

Alara Resources LTD is listed in Australia. Its market capitalisation is AU$ 9.5 millions as of today (US$ 5.9 millions, € 5.3 millions).

Its stock quote reached its highest recent level on January 14, 2011 at AU$ 0.48, and its lowest recent point on June 05, 2015 at AU$ 0.01.

Alara Resources LTD has 595 689 984 shares outstanding.

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Project news of Alara Resources Limited
8/12/2016Project Updates
Corporate news of Alara Resources Limited
8/3/2016Closure of Renounceable Rights Issue
7/15/2016Dispatch of Prospectus
7/12/2016Letter to Ineligible Shareholders
7/8/2016Prospectus - Renounceable Issue
7/8/2016Letter to Optionholders - Renounceable Issue
7/8/2016Further Information & Project Update - Al Hadeetha Project
6/13/2016Further Information - Mineralisation at Al Hadeetha Project
6/8/2016Oman Project Update
5/31/2016Project Updates
5/19/2016Khnaiguiyah Zinc-Copper Project - Legal Update
5/11/2016Oman Project Update
4/13/2016Board Appointment and Appendix 3X
4/1/2016Feasibility Study Update
1/18/2016Option Expiry
12/23/2015Potential Breakthrough on Khnaiguiyah Project
12/18/2015Project Update - Oman
12/1/2015Results of Meeting
11/24/2015Recent Developments in Saudi Arabia
11/18/2015Listing Rule Compliance
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