The Cloncurry Copper Project: JORC 2012 Disclosure

2 August 2017 ASX: AOH, FSE: A2O

THE CLONCURRY COPPER PROJECT: JORC 2012 DISCLOSURE

Altona Mining Limited ("Altona" or "the Company") today released an update to the Definitive Feasibility Study for the Cloncurry Copper Project near Mt Isa, Queensland.

As part of the update and consolidation of prior technical studies, Altona has consolidated prior disclosure of Mineral Resources and Ore Reserves that had been disclosed under either the 2004 or 2012 Edition of the JORC Code (Appendix 4) to JORC 2012 Code standards (Appendix 5).

Mineral Resources and Ore Reserves for the Cloncurry Copper Project are summarised in Table 1. For a detailed breakdown by deposit and classification refer to Appendices 1 and 2.

Table 1. Mineral Resource and Ore Reserve Estimates

Mineral Resources and Ore Reserves*	Tonnes (million)	Copper (%)	Gold (g/t)
Measured, Indicated and Inferred Resources	290.0	0.58	0.05
Contained metal in Resources	1,668,000(t)	430,000(oz)
Proven and Probable Reserves	85.6	0.50	0.07
Contained metal in Reserves	426,000(t)	203,900(oz)

Mineral Resources are inclusive of Ore Reserves

This disclosure will be updated as changes occur.

Please direct enquiries to: Alistair Cowden	David Ikin	Jochen Staiger
Managing Director	Professional Public Relations	Swiss Resource Capital AG
Altona Mining Limited	Perth	Tel: [phone]
Tel: [phone]	Tel: [phone]	[e-mail]
[e-mail]	[e-mail]

AOH0838

Altona Mining Limited | Level 1, 2 Kings Park Road, West Perth WA 6005 | ABN 35 090 468 018

Competent Person Statement and JORC Compliance Responsibility for Exploration Targets, Exploration Results, Mineral Resources: The information in this report that relates to Exploration Targets, Exploration Results or Mineral Resources is based on information generated or compiled by Dr Alistair Cowden, BSc (Hons), PhD, MAusIMM, MAIG, Mr Roland Bartsch, BSc(Hons), MSc, MAusIMM, Mr George Ross, BSc, MSc, MAIG and Mr Frank Browning BSc (Hons) MSc, MAIG. Dr Cowden, Mr Bartsch, Mr Ross and Mr Browning are full time employees of the Company and have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being 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'. Dr Cowden, Mr Bartsch, Mr Ross and Mr Browning consent to the inclusion in the report of the matters based on their information in the form and context in which it appears. Responsibility for Ore Reserves: The information in this report that relates to Ore Reserves is based on information generated or compiled by Dr Alistair Cowden, BSc (Hons), PhD, MAusIMM, MAIG and Mr Roland Bartsch, BSc(Hons), MSc, MAusIMM. Dr Cowden and Mr Bartsch are full time employees of the Company and have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being 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'. Dr Cowden and Mr Bartsch consent to the inclusion in the report of the matters based on their information in the form and context in which it appears. Copper equivalence: When used, copper equivalence (Cueq) refers to copper and gold in concentrate, not resources or reserves, or drill results. Revenue from gold is simply equated to copper revenue using the assumptions reported in the ASX release dated 2 August 2017. About Altona and the Cloncurry Copper Project

Altona Mining Limited ("Altona") is an ASX listed company focussed on the Cloncurry Copper Project ("Project") in Queensland, Australia. The Project has Mineral Resources containing some 1.67 million tonnes of copper and 0.43 million ounces of gold. It is envisaged that a 7 million tonnes per annum open pit copper-gold mine and concentrator will be developed at the Project. The development is

permitted with proposed annual production(1) of 39,700 tonnes of copper and 17,500 ounces of gold

for a minimum of 14 years. The Definitive Feasibility Study was refreshed in July 2017.

1Refer to the information attached to this ASX release 'Updated DFS Delivers Bigger and Better Cloncurry Copper Gold Project' dated 2 August 2017 which outlines information in relation to this production target and forecast financial information derived from this production target. The release is available to be viewed at www.altonamining.com or www.asx.com.au. The Company confirms that all the material assumptions underpinning the production target and the forecast financial information derived from the production target referred to in the above-mentioned release continue to apply and have not materially changed.

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APPENDIX 1: SUMMARY OF MINERAL RESOURCE ESTIMATES FOR THE CLONCURRY COPPER PROJECT

Deposit

Total

Contained Metal

Measured

Indicated

Inferred

Tonnes (millions)

Cu (%)

Au (g/t)

Copper (tonnes)

Gold (ounces)

Tonnes (million)

Cu (%)

Au (g/t)

Tonne (million)

Cu (%)

Au (g/t)

Tonnes (million)

Cu (%)

Au (g/t)

Deposit in Mine Plan

105.9	0.52	0.09	546,000	295,000	37.1	0.60	0.09	45.0	0.46	0.08	23.9	0.50	0.10
21.0	0.59	123,000	-	-	-	17.7	0.59	3.4	0.58	-
7.5	0.57	0.07	43,000	17,000	-	-	-	5.4	0.60	0.08	2.1	0.49	0.06
14.0	0.56	0.20	78,000	85,000	-	-	-	3.6	0.60	0.24	10.4	0.54	0.18
4.8	0.80	0.21	38,000	32,000	-	-	-	2.3	0.95	0.23	2.5	0.66	0.19
153.3	0.54	0.09	829,000	430,000	37.1	0.60	0.09	74.0	0.52	0.07	42.2	0.53	0.11
76.4	0.62	-	475,000	-	27.0	0.68	-	6.6	0.60	-	42.7	0.59	-
22.2	0.65	-	143,000	-	-	-	-	18.4	0.65	-	3.8	0.60	-
10.4	0.66	-	69,000	-	-	-	-	-	-	-	10.4	0.66	-
17.4	0.54	-	94,000	-	-	-	-	-	-	-	17.4	0.54	-
6.0	0.61	-	37,000	-	-	-	-	-	-	-	6.0	0.61	-
3.6	0.53	-	19,000	-	-	-	-	-	-	-	3.6	0.53	-
0.7	0.40	-	3,000	-	-	-	-	-	-	-	0.7	0.40	-
136.7	0.61	-	840,000	-	27.0	0.68	-	25.0	0.64	84.7	0.59	-
290.0	0.58	0.05	1,668,000	430,000	64.1	0.63	0.05	99.0	0.55	0.05	126.9	0.57	0.04

Little Eva Turkey Creek Ivy Ann

Lady Clayre Bedford

Sub-total

Other Deposits Blackard Scanlan Longamundi Legend

Great Southern Caroline Charlie Brown

Sub-total

Total

See tabulation in Appendix 4 for source information and Appendix 5 for details of supporting data and estimation methodology (Table 1 of the JORC Code 2012).

Little Eva is reported above a 0.2% copper lower cut-off grade, all other deposits are above 0.3% lower copper cut-off. Resources have been reported as inclusive of Reserves.

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APPENDIX 2: SUMMARY OF ORE RESERVE ESTIMATES FOR THE CLONCURRY COPPER PROJECT

Reserve Classification	Tonnes	Copper (%)	Gold (g/t)	Copper (tonnes)	Gold (ounces)
Little Eva
Proved	31,000,000	0.64	0.08	198,200	84,700
Probable	22,100,000	0.50	0.09	109,900	62,600
Turkey Creek Probable	11,300,000	0.46	0	52,100	0
Ivy Ann
Probable	3,500,000	0.59	0.08	21,000	9,100
Lady Clayre
Probable	920,000	0.56	0.27	5,100	8,100
Bedford
Probable	1,350,000	0.85	0.20	11,600	8,500
Total Proved and Probable Reserves (excl. stockpiles)	70,200,000	0.57	0.08	397,400	173,000
Little Eva Low Grade Stockpile
Probable	15,400,000	0.18	0.06	28,100	30,900
Total (including stockpile)	85,600,000	0.50	0.07	426,000	203,900

See tabulation in Appendix 4 for source information and Appendix 5 for details of supporting data and estimation methodology (Table 1 of the JORC Code 2012).

Little Eva and Turkey Creek are reported above a 0.16% copper lower cut-off grade, for Bedford 0.17% copper, for Lady Clayre 0.20% copper and for Ivy Ann 0.22% copper.

All data has been rounded to two significant figures. Discrepancies in summations may occur due to rounding. Minor rounding discrepancies or inconsistencies in summaries since initial publication in 2012 have been updated.

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