ORBMINCO LIMITED — Interim / Quarterly Report 2016

May 9, 2016

AusROC Metals Ltd

10 May, 2016

ASX Release

By e-lodgement

Quarterly Activities Report December 2015 and March 2016

The Directors of AusROC Metals Limited (ASX: ARK) (“AusROC” or “the Company”) are pleased to present the quarterly activities statement for the past two quarter ended 31 December 2015 and 30 April 2016.

1. Operations

Shenglong Acquisition

As has been previously announced, the company has an option to secure an interest in Shenglong International Investment Limited (“Shenglong”).

In the recently completed quarter, the company announced they had executed a new Definitive Term Sheet (“Term Sheet”) to acquire 56.67 % of Shenglong International Investment Ltd (“ Shenglong ”) from Mr Zou Delin (" Vendor "). The Term Sheet is binding on both parties, subject to satisfaction or waiver of conditions precedent including re-compliance with Chapters 1 and 2 of the ASX Listing Rules.

The Transaction will include a capital raising of at least $4,000,000 to provide funding for Shenglong and working capital for the Company.

The company is currently discussing revised acquisition terms with the vendor of Shenglong Mr Zou Delin. It is hoped this will be finalised in the next few days and the company will provide an update to the market as soon as this happens and will immediately commence the re-compliance.

Although shareholder approval was granted for an earlier transaction on the same asset on 30 November 2014, the ASX has deemed that the revised transaction will result in ARK requiring further shareholder approval under Chapter 11 of the ASX Listing Rules for a change in nature and scale of its operations and requires re-compliance with Chapters 1 and 2 of the ASX Listing Rules.

The consolidation of the shares of the company was completed after the General meeting of November 2014 and the Company will not be required to complete a further consolidation. It will be required to raise a minimum of $4,000,000 at $0.02 per share under prospectus, which was the last price the stock traded at (post consolidation).

AusROC Metals Ltd ABN 99 073 155 781 Suite 39, 44 Kings Park Road, West Perth, WA 6005 PO Box 780, West Perth, WA, Australia, 6872 Telephone: (08) 6263 4430 Facsimile: (08) 6263 4444 Web: www.ausrocmetals.com

AusROC Metals Ltd

2. Corporate

Blue Bell and De Soto

The company had an option to purchase 100% of these projects that was due this year. The payment was for a fee of US$169,000. The company was not in a position to exercise this option due to not having the funds at the time of the option being due however remains in negotiations with the owner of these projects to renegotiate a new option agreement over the projects.

Short term funding

During the past two quarters the company borrowed $240,000 from a sophisticated investor to fund ongoing working capital requirements. The $240,000 loan has been structured as a convertible loan. Terms of the loan are that the loan can be coveted at the time of the closure of Chapters 1 & 2 of the ASX listing rules minimum $4 million capital raise (at a minimum price of $0.02) at $0.02 for 12,000,000 shares. The company will pay a 10% per annum coupon to the lender if the loan does not convert by 30 April 2016, commencing 1 May 2016. The lender will be paid a fee that includes 12 million options exercisable at 2.2 cents by 31 December 2019.

During the quarter the company also borrowed $20,000 from a sophisticated investor to assist in a payment to a creditor. The terms of this loan is that a total of $40,000 is repayable on or before 21 April 2016 or the amount can be converted into shares at $0.02.

The company is negotiating with another investor to provide loan funds to assist the company to remain solvent prior to the re-listing. We hope to finalise this loan in the next week.

Change in share registry

The company’s previous share registry provider, Computershare Services Limited, withdrew its services as of Friday 6[th] May 2016. The company is currently arranging a new registry agent and will advise the market when this process has been finalised.

Change in Board of Directors

During the December quarter the Company announces that Directors Peter Landau and Malanga Machel have tendered their resignations as Directors. They will be replaced by Mr Jim Malone, who will act as an Executive Director, and Mr Ben Mead as a Non-Executive Director. Both Messrs Malone and Mead have previously served as Directors of the company. Mr Vinod Sharma will remain as a Director.

The Company would like to thank Messrs Landau and Machel for their contributions to the Company over the past two years.

AusROC Metals Ltd ABN 99 073 155 781 Suite 39, 44 Kings Park Road, West Perth, WA 6005 PO Box 780, West Perth, WA, Australia, 6872 Telephone: (08) 6263 4430 Facsimile: (08) 6263 4444 Web: www.ausrocmetals.com

AusROC Metals Ltd

Change in registered office

The Company also announces that it has changed it registered office to;

Suite 39 44 Kings Park Road WEST PERTH WA 6005 Telephone: +61 86263 4430 Facsimile: +61 86263 4444

The Company’s new postal address is;

PO Box 780 WEST PERTH 6872

About the Shenglong base metals project

Shenglong is a company incorporated in the British Virgin Islands, and is engaged in the exploration and exploitation of copper ore and other minerals in the Republic of Congo.

Shenglong wholly owns Societe Lulu De Mine, a company incorporated in the Republic of Congo, which holds a 90% interest in two Polymetallic exploitation permits in the Republic of Congo valid until 2036, named Moubiri (“Moubiri Project”) and Mindouli (“Mindouli Project”). The remaining 10% interest in each of the Moubiri and Mindouli Projects is held by the Government of the Republic of Congo.

Apon the completion of the acquisition of the 56.67% of Shenglong, AusROC will control 51% of the total project, the vendor of Shenglong, Mr Zou Delin will control 39% and the Government of the Republic of Congo will control the remaining 10%

Shenglong Projects

The Shenglong owned projects are located in the south of the Republic of Congo, 150km west of the capital Brazzaville and 400km NE from the major sea port PointeNoire. The project consists of exploitation permits M'Passa-Moubiri 2011-471 and Mindouli 2011-472, which have a total area of 372km2. The Project is held for 90% by Shenglong through its wholly-owned subsidiary Societe Lulu De Mine. The remaining 10% is held by the Congolese government.

The Projects are located in the Neoproterozoic to Palaeozoic Niari Basin of the southern Congo. The Project sits on an NE-trending anticline (named the Mindouli Anticline in this report) in the southern part of the Niari Basin. The core of the anticline is Neoproterozoic schist-limestone (Shisto-Calcaire Series) which is overlain by Palaeozoic schist-sandstone (Schisto-Gréseux System). The boundary between the two is an unconformity that is generally faulted in an E-W direction (e.g. Buffett et

AusROC Metals Ltd ABN 99 073 155 781 Suite 39, 44 Kings Park Road, West Perth, WA 6005 PO Box 780, West Perth, WA, Australia, 6872 Telephone: (08) 6263 4430 Facsimile: (08) 6263 4444 Web: www.ausrocmetals.com

AusROC Metals Ltd

al., 1987). The mineralisation on the project sits at this boundary, usually within the limestone, and is fault-controlled by major NE-striking faults.

There are seven prospects on the project which can be summarised as follows:

1. Moubiri. Current Direct Shipping Ore (DSO) mining operation. Copper-leadzinc mineralisation at and around the faulted contact between limestone and sandstone.

2. Mindouli. Historical copper mine. Fault-hosted mineralisation at the contact between sandstone and limestone.

3. M'passa. Historical lead-zinc and minor copper mine. Limestone-hosted mineralisation within a wedge formed by faults.

4. Mimbodi. Historical lead-zinc mine.

5. Tchicoomba. Exploration prospect on faulted sandstone-limestone contact.

6. Makaka. Exploration prospect in the limestone group.

7. Diangala. Exploration prospect on a fault zone in the sandstone group.

For further information on the project, see the company’s previous announcements on the projects commencing with the announcement of 5 September 2014 and continuing throughout this date and 2014 and 2015.

Sincerely,

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Jim Malone Executive Director

AusROC Metals Ltd ABN 99 073 155 781 Suite 39, 44 Kings Park Road, West Perth, WA 6005 PO Box 780, West Perth, WA, Australia, 6872 Telephone: (08) 6263 4430 Facsimile: (08) 6263 4444 Web: www.ausrocmetals.com