Avesoro Resources Regulatory News (ASO)

31 October 2017

THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, HONG KONG, SINGAPORE OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL. FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

THE SECURITIES DESCRIBED HEREIN HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

Avesoro Resources Inc.

Fundraising Update: Broker Option

Avesoro Resources Inc. (AIM:ASO / TSX:ASO) ("Avesoro" or the "Company"), announces that further to the Acquisition and Placing announced earlier today, the period in which the Broker Option could be exercised has now ended.

The aggregate amount raised by the Company remains approximately £15.2 million (approximately US$20.0 million) through the placing of 797,449,000 Placing Shares at the Placing Price.

Defined terms used in this announcement have the same meaning as in the Company's announcement of 7.00am on 31 October 2017.

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