AURIS MINERALS LIMITED — Capital/Financing Update 2021

Oct 27, 2021

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25 October 2021

Dear Shareholder,

AURIS MINERALS LIMITED – PRO-RATA NON-RENOUNCEABLE OPTION ENTITLEMENT OFFER

As announced on 19 October 2021, Auris Minerals Limited (ABN 77 085 806 284) ( Company ) ( ASX:AUR ) is undertaking a non-renounceable pro rata offer of 1 (one) New Option exercisable at $0.08 each on or before 30 November 2023 for every 1 (one) Share held by Eligible Shareholders registered at 5:00pm (WST) on the Record Date, at an issue price of $0.005 per New Option, to raise approximately $2.38 million before costs (Entitlement Offer) , and for the offer of the shortfall to the Entitlement Offer (Shortfall Offer) , (together, the Offers ).

The Company lodged a prospectus for the Offer ( Prospectus ) with ASIC and ASX on 19 October 2021. An electronic copy of the Prospectus, along with information with respect to applying for your entitlement under the Offer is available at https://investor.automic.com.au/#/home.

If you have already registered, you can log in under “Existing users sign in”. If you haven’t registered, you can sign in by clicking on “Single Holding Access” or you can click “register” to create a portfolio. Once you have logged in, click on “Documents & Statements” and then click on “download” to the right of the AUR Prospectus pdf and the AUR Entitlement Issue Form pdf to download and view the Prospectus and personalised application form.

You will need to provide your Securityholder Reference Number or Holder Identification Number and postcode to register or to sign in through Single Holding Access. Follow the instructions provided including making payment by BPAY® or EFT. Your electronic acceptance of the Offer should be made by making payment via BPAY® or EFT. Payment by cheque or cash will not be accepted.

If you wish to access the online application system, you will need to provide your Securityholder Reference Number or Holder Identification Number (HIN) and postcode and follow the instructions provided including making payment by BPAY® or EFT.

Your acceptance of the Offer must be made by making payment using the payment instructions on the Entitlement and Acceptance Form which you can access at https://investor.automic.com.au/#/home. The number of Options to which you are entitled (your Entitlement ) is shown on your personalised Entitlement and Acceptance Form which is accessible at https://investor.automic.com.au/#/home.

If you are unable to access https://investor.automic.com.au/#/home, then you can obtain a copy of the Prospectus and your Entitlement and Acceptance Form by calling the Share Registry on 1300 288 644 (within Australia) or +61 2 9698 5414 (outside Australia) or at corporate.actions@automic.com.au between 9:00am and 5:00pm (AEST) and asking them to mail a paper copy of the Prospectus and your Entitlement and Acceptance Form to you free of charge.

The Offers are being made to all shareholders of the Company ( Shareholders ) named on its register of members at 5:00pm (WST) on 25 October 2021, whose registered address is in Australia or New Zealand ( Eligible Shareholders ).

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The Company intends to apply the funds raised from the Offers (less expenses) to fund exploration at the Company’s Bryah Basin copper and gold projects, fund acquisition opportunities and provide the Company with additional working capital.

For further specifics of the use of funds please refer to section 1.2 of the Prospectus.

Following completion of the Offer, assuming any shortfall is subsequently placed and the full subscription is raised, the Company will have issued approximately 476,625,957 Options, resulting in total Options on issue of 476,625,957 including total Shares on issue of 476,625,957.

Actions required of Eligible Shareholders

There are a number of actions Eligible Shareholders may take:

• accept your full Entitlement under the Entitlement Offer;

• accept your full Entitlement and apply for additional Shortfall Options under the Shortfall Offer;

• accept part of your Entitlement under the Entitlement Offer; or

• if you do not wish to accept all or part of your Entitlement under the Entitlement Offer, you are not obliged to do anything.

Key dates for the Offer

	EventProposed Date	EventProposed Date	EventProposed Date
	ven		ropose ae
	Announcement of Entitlement Offer to ASX.19 October 2021
	Lodgement of Prospectus with ASIC and ASX19 October 2021
	Record Date (the date for identifying Shareholders entitled toparticipate in the Entitlement Offer).25 October 2021
	Prospectus with Entitlement and Acceptance Forms sent to EligibleShareholders, announcement of the same. Offers open28 October 2021
	Last day to extend Entitlement Offer Closing Date.15 November 2021
	Entitlement Offer Closing Date (the last day for receipt ofacceptances under the Entitlement Offer).18 November 2021
	Shortfall Offer Closing Date23 November 2021
	Issue date (New Options issued under the Entitlement Offerentered into the Share register).24 November 2021
	Announcement to ASX of the results of the Entitlement Offer andany shortfall to the Entitlement Offer.25 November 2021
	New Options issued under Entitlement Offer expected tocommence normal trading on ASX.26 November 2021

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If you have any queries concerning the Offer, or the action you are required to take to subscribe for New Options, please contact your financial adviser or Chris Achurch, the Company Secretary, on +61 8 6268 2641.

Yours sincerely,

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Neville Bassett Chairman

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