ORE RESOURCES LIMITED — Capital/Financing Update 2014

Nov 11, 2014

12 November 2014

Market Announcements Platform ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000

Manica Gold Project Acquisition – Final Completion

Highlights

• Binding deed of mutual settlement and release executed with Pan African Resources Plc in respect of the Manica Gold Project

• Final payment of $350,000 in full and final settlement

• Immediate cancellation of existing Consideration Shares (25 million ordinary shares) and Deferred Consideration of Cash and shares

Mozambique-focused emerging gold producer, Auroch Minerals NL (ASX: AOU) ( Auroch or the Company ), is pleased to advise it has entered into a deed of mutual settlement and release with Pan African Resources plc ( Pan African ) in relation to the Manica Gold Project.

Auroch will pay Pan African a final payment of $350,000 in full and final satisfaction of its obligations:

• to pay the remaining $1.65 million Consideration Cash;

• to pay up to $4 million in Deferred Cash Consideration;

• to issue up to 71,666,668 ordinary shares as Deferred Consideration Shares under the original share sale agreement; and

• Auroch will immediately cancel the existing 25 million shares held by Pan African

thereby reducing the Company’s ordinary shares on issue to 33,310,015 ordinary shares.

“We’re very pleased with agreement reached with Pan African today. Auroch now has no further liability in respect of its interest in the Manica Gold Project and the Company can now proceed with the development of the project without the overhang of the historical agreements.”

For further information please visit www.aurochminerals.com or contact:

Glenn Whiddon Chairman Auroch Minerals NL T: +61 8 9486 4036