ORE RESOURCES LIMITED — Capital/Financing Update 2016

Apr 17, 2016

18 April 2016

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

Settlement of Outstanding Loans

Auroch Minerals NL (ASX: AOU) ( Auroch or the Company ) is pleased to advise that it has repaid all loans and convertible notes outstanding representing $496,723. The outstanding balances have been repaid via the settlement of 169,561,799 shares in Xtract Resources plc ( Xtract ). The new shareholders have accepted the Xtract shares as settlement due to the growth opportunities Xtract provides in the future.

Chairman Glenn Whiddon commented “ Auroch is a supportive and committed shareholder of Xtract and we look forward to the advancement of the Manica Gold Project and continued production improvements from the Chepica copper asset. The settlement of the loan balances removes any need for Auroch to dispose of any shares in Xtract and we look forward to being a committed shareholder of Xtract going forward in the development of these assets .”

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

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