ORE RESOURCES LIMITED — Capital/Financing Update 2017

Sep 11, 2017

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12 September 2017 Market Announcements Platform ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000

3D Modelling Confirms Significant Potential of Tisová Co-Cu-Au Project in EU’s Czech Republic.

Highlights:

• 3D modelling of the Tisova orebody confirms potential for hosting a significant cobalt/copper/gold project in the heart of the EU.

• 3D modelling Summary:

• ➢ Sulphide zones more than 100m true thickness.

• ➢ Multiple lenses of massive sulphide within a disseminated blanket.

• ➢ More than 30 Km of underground development.

• ➢ Modelled sulphide zones open north, south and at depth.

• ➢ Modelling indicates best continuity of massive sulphides is down dip.

• ➢ High-grade copper horizons form narrow lenses less than 5m wide within thick sulphide blanket.

• 3D model used to plan upcoming drilling campaign.

• Best historic results for Cobalt, Copper, Gold and Silver at Tisová: ➢ 0.69% Cobalt, 17.1% Copper, 3.7 g/t Gold and 178 g/t Silver

• Drilling to commence shortly.

Glenn Whiddon, Auroch’s Chairman, commented;

“This Project has the potential to drill wide and significant intersections of cobalt, copper and gold mineralisation in the heart of the European Union. The Tisová Copper Mine in the Czech Republic

Auroch Minerals Ltd ABN 91 148 966 545 Unit 5, Ground Floor, 1 Centro Ave, Subiaco WA 6008 Phone: +61 8 9486 4036 Fax: + 61 8 9486 4799 PO Box 510 Subiaco WA 6904 Email: admin@aurochminerals.com.au www.aurochminerals.com.au

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has a long history of copper production from narrow high-grade sulphide ore bodies up to 5m thick. The 40,000 metres of historical drilling was focused solely on copper exploration however recent analysis has highlighted Tisová’s enormous potential for Cobalt, Gold and Silver, in addition to Copper.”

“For the first time in the mines existence, a 3D model of the sulphide zones and the underground development clearly indicates the potential of this multi-commodity project”

Auroch Minerals (“Auroch” or “the Company”), a renewable energy focused exploration company, is pleased to advise shareholders that its initial diamond drilling program at the Tisová Mine in the Czech Republic is scheduled to commence on 18[th] September.

3D Model

Based on historic data of Tisová, which includes 72 surface diamond holes (25,985m) and 142 holes of underground drilling (14,299m), the Auroch technical team has built a 3D Model of the underground development, drilling (Fig 1) and the known sulphide mineralisation (Fig 2.).

The sulphide zones within the orebody have been 3D modelled in Leapfrog using classifications of trace, disseminated and massive for the ore within the model. Zones from where historic underground ore was extracted is shown in the “Bright Red” colour on both figures.

Highlights of the 3D models are as follows:

• More than 30 Km of underground development including the 400m Helena Shaft down to 9 level (400m below surface) is present at Tisová (Figure 1)

• Access includes a 1,000m adit that joins to the Helena Shaft at the 2 level from road north of Kraslice – the mine is flooded below this level.

• Modelled sulphide zones are open north, south and at depth

• Sulphide zones more than 100m true thickness

• Multiple lenses of massive sulphide within a disseminated blanket

• Modelling indicates best continuity of massive sulphide zones is down dip

• High-grade copper horizons form narrow lenses less than 5m wide within thick sulphide blanket

Auroch Minerals Ltd ABN 91 148 966 545 Unit 5, Ground Floor, 1 Centro Ave, Subiaco WA 6008 Phone: +61 8 9486 4036 Fax: + 61 8 9486 4799 PO Box 510 Subiaco WA 6904 Email: admin@aurochminerals.com.au www.aurochminerals.com.au

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Helena Shaft
Decline 200m
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Figure 1 - 3D cross-section of Tisová historic drilling and underground development.

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200m
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Figure 2. 3D sectional view detailing the sulphide zones within the orebody that have been modelled in Leapfrog using a classification of trace, disseminated and massive. Stoping is shown in Bright Red. Planned Phase one exploration (planned drilling) is shown with Blue traces

Auroch Minerals Ltd ABN 91 148 966 545 Unit 5, Ground Floor, 1 Centro Ave, Subiaco WA 6008 Phone: +61 8 9486 4036 Fax: + 61 8 9486 4799 PO Box 510 Subiaco WA 6904 Email: admin@aurochminerals.com.au www.aurochminerals.com.au

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Background on Tisová

Auroch announced option agreement to acquire 100% of the Tisová Copper to the ASX on the 3[rd] of July 2017.

• The Tisová project comprises a granted exploration licence which includes the historic Tisová mine and 3 exploration licence applications in the Czech Republic

• The Tisová underground mine has a long history, being mined intermittently since the end of the 12[th] century and more recently operated from 1959 to 1973 when it produced 560kt of ore containing 0.68% Cu

• Deposit style is volcanogenic massive sulphide (VMS) with copper being confined to specific horizons of chalcopyrite-rich ore within a much broader sequence of massive, semi-massive and disseminated sulphides

• Previous exploration and mining at Tisová focussed on the copper-rich VMS and did NOT sample for cobalt or other metals, hence these opportunities were not exploited nor evaluated

• Auroch has secured a significant ground holding which provides scope to prove up a substantial deposit

About Auroch Minerals

Auroch Minerals (ASX: AOU) is primarily focusing on the exploration of metals crucial to the Renewable Energy Industry. The Company is specifically targeting Cobalt and Lithium, both used in the production of Li ion batteries and Polymetallic metals.

It is the Company’s vision to add shareholder value through the identification, exploration and subsequent development of assets located in under-explored provinces that contain historic production and prospective geology. Auroch’s current portfolio of projects contains three highly prospective exploration projects;

Tisová Cobalt Copper Gold Project located in the Czech Republic, where the Company currently holds a nine-month option agreement to acquire 100% of the project as announced July 2017. Tisová is in the heart of the European industrial hub, has a long history of copper production with mine infrastructure in place and recent sampling carried out by Auroch has confirmed the presence of Cobalt. Auroch is currently carrying out its initial drilling program.

The Company is also earning 75% of the Alcoutim Copper Zinc Project in Eastern Portugal. Alcoutim is located on one of the world’s most significant mining districts, the Iberian Pyrite Belt (IPB). Known as the Land Of Giants, the IPB is renowned for its poly-metallic (Copper and Zinc dominant) Volcanic Massive Sulphide (VMS) deposits. Home to three Super Giant deposits (Rio Tinto, Neves Corvo and Aljustrel) and 10 Giant deposits, the area hosts over 80 known deposits containing resources totalling over 1,700 Million Tonnes. Auroch’s Alcoutim Project is located immediately along strike of the Super Giant Neves Corvo deposit.

Karibib Lithium Project , located in Namibia, provides Auroch with immediate upside potential to the rapidly evolving lithium market. Karibib is situated next door to two of Namibia’s high-grade historic lithium producing mines, Rubikon and Helikon.

Auroch Minerals Ltd ABN 91 148 966 545 Unit 5, Ground Floor, 1 Centro Ave, Subiaco WA 6008 Phone: +61 8 9486 4036 Fax: + 61 8 9486 4799 PO Box 510 Subiaco WA 6904 Email: admin@aurochminerals.com.au www.aurochminerals.com.au

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

Auroch Minerals Limited

Dr Andrew Tunks Glenn Whiddon CEO Executive Chairman T: +61 8 9486 4036 T: +61 8 9486 4036

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Dr. Andrew Tunks and represents an accurate representation of the available data. Dr. Tunks (Member Australian Institute Geoscientists) is the Company’s Chief Executive Officer and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Tunks consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Auroch Minerals Ltd ABN 91 148 966 545 Unit 5, Ground Floor, 1 Centro Ave, Subiaco WA 6008 Phone: +61 8 9486 4036 Fax: + 61 8 9486 4799 PO Box 510 Subiaco WA 6904 Email: admin@aurochminerals.com.au www.aurochminerals.com.au

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JORC Code, 2012 Edition – Table 1 Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.)

Criteria	Commentary
Sampling techniques	●Grab samples collected from waste dumps associated with Tisová mine by Geologist under contract to Auroch Minerals ●Samples were collected from zones suspected to be mineralised ●Samples were not collected on agrid.
Drilling techniques	●Four Historic Drilling Campaigns have been completed over the life of the deposit using standard diamond drilling surface and underground techniques and are detailed in the following reports 1. 1952-1954; Severočeský rudný průzkum, n.p. Tisová surface drillholes; T1-T121 (cca 150x150m), Veis et al. 1957 (GF FZ001378) 2. 1954-1958 Rudné doly Příbram no. Tisová –Central zone Surface diamond holes –Helena Shaft Dvořák 1958 (GF FZ002867) 3. 1967-1969; Geoinustria Praha, n.p. Tisová surface drillholes; Ti1-Ti26, up to 700 m deep, 11,018m in total Mayer et al. 1972 (GF P023558) 4. 1985-1989; Rudné doly Příbram n.p. Tisová – Central and Southern zone Helena shaft – level 4, 6, 8, 9; underground drillholes PT1-PT189, 14,298m in total. Kozubek a Mayer 1985 (GF P107957), Kozubek a Beran 1989 (GF P071230) ●A final report on the mine was detailed in 1984 P. Sucek et al. Tisová Copper Mine –Final Report Rudné doly Příbram np. ●No drilling has been completed by Auroch – Previous drilling campaigns were carried out during historical operation of the mine
Drill sample recovery	●Original drill hole logs are available for all Ti and PT series holes, and most T series holes. The vast majority of recoveries were recorded as >90%.
Logging	●For samples taken by Auroch and discussed in this reports samples descriptions were noted in the field ●Original drill hole logs are available for all Ti and PT series holes, and most T series holes. Holes were logged for: lithology, description,stratigraphy,recovery,and sample.
Sub-sampling techniques and sample preparation	●There is no information on sub-sampling or sample preparation for the historic drilling ●Auroch grab samples were presented to lab where 100% of sample was crushed and pulverised, and sub samples collected from pulps for various assay methods using standard ALS practices.

Auroch Minerals Ltd ABN 91 148 966 545 Unit 5, Ground Floor, 1 Centro Ave, Subiaco WA 6008 Phone: +61 8 9486 4036 Fax: + 61 8 9486 4799 PO Box 510 Subiaco WA 6904 Email: admin@aurochminerals.com.au www.aurochminerals.com.au

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Criteria	Commentary
Quality of assay data and laboratory tests	●No information has been located for QAQC on historic samples ●All assays for Auroch sampling completed by ALS Minerals - Romania ●Standard methods including XRF for major elements, ICP-AES and ICP – MS and fire assaywere used as appropriate
Verification of sampling & assaying	●For Auroch sampling -No blanks or field duplicates were submitted-ALS runs internal QAQC protocols including, lab duplicates and standards were utilised ●There is no information onQAQC for historic data
Location of data points	●Auroch grab sample data is not located as they are grab samples from Helena shaft waste dump ●Historic Drilling was located by traditional surface and underground survey ●Historic work has been completed on local grids however all data will be transformed in UTM WGS 84 Zone 33 North during digital capture of historic records
Data spacing and distribution	●Not relevant for sampling by Auroch ●Previous historic drilling was completed on a variety of scales appropriate for the mining techniques and methods used in Czechoslovakia at the time of operation
Orientation of data in relation to geological structure	●Auroch samples collected to test a variety of ore types there are NOT spatially significant and bear NO relationship to the true nature of mineralisation ●Historic drilling was conducted at close to 90 degrees to geological structure, drilling information is backed up by extensive underground mapping (Figure 2)
Sample security	●Samples were collected by field geologist, numbered and bagged and delivered immediately to assay laboratory ●There is no information on chain of custodyfor historic data
Audits or reviews	●Not completed

Auroch Minerals Ltd ABN 91 148 966 545 Unit 5, Ground Floor, 1 Centro Ave, Subiaco WA 6008 Phone: +61 8 9486 4036 Fax: + 61 8 9486 4799 PO Box 510 Subiaco WA 6904 Email: admin@aurochminerals.com.au www.aurochminerals.com.au

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Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	Commentary
Mineral tenement and land tenure status	●Tisová exploration rights held under Tisová license, No.77533/ENV/14, 2091/530/14; issued 28th May 2015, valid till 30.6.2020 ●There are three Exploration Licence applications in the Czech Republic – See Figure 2. ●There is no guarantee applications will be granted
Exploration done by other parties	●Tisová was an operating mine between 1959 to 1973 ●Production was 561Kt of ore @ 0.68% Cu as detailed in 1984 P. Kozubek et al. Tisová Copper Mine –Final Report Rudné doly Příbram np. ●See body of release: References report for all references ●Over 100 drill-holes have been drilled in the area but all core has been destroyed ●The Company is in the process of collating historic data ●Reports of previous exploration are stored at the Geological Survey Czech Republic see references
Geology	The deposit is formed by a number of concordant ore lenses within a sequence of phyllitic metasediments, with interbedded metabasic layers, between the Karlovy Vary and the Smrciny granite plutons. The metasediments are assigned to the Kraslice sequence of the upper part of the Raun Group of Saxothuringikum of Upper Cambrian age. Sulfide horizons containing the orebodies occurred in the lower part of the sequence above the quartzite horizon and below the metabasic rocks. The host rocks are characterized by chlorite-sericite and sericite-chlorite phyllites. Geology description from: 1981; V. Oruzinsky and B. Kribek; Extractable Organic Compounds associated with the Metamorphosed Stratiform Cu- Deposit of Tisova Czechoslvakia;Minerallium Deposita V16p437-446
Drill hole Information	●No detailed drill hole information is presented other than on 2 type sections to show general ore-body geometry. ●These sections have been simplified and redrafted from original mine plans and cross0sections presented in historic company reports referred to in the release ●Of the drilling on the two sections shown Auroch presently has access to downhole logs for 5 of the holes and 26 holes in total. ●A collar table and sulphide logged sulphide intersection is provided below ●The logged data matches well with the original sections in which the geology was slightly simplified for reproduction in this release

Auroch Minerals Ltd ABN 91 148 966 545 Unit 5, Ground Floor, 1 Centro Ave, Subiaco WA 6008 Phone: +61 8 9486 4036 Fax: + 61 8 9486 4799 PO Box 510 Subiaco WA 6904 Email: admin@aurochminerals.com.au www.aurochminerals.com.au

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Available Drill Hole Information for cross-sections presented in report

Drill Hole	Easting (m)	Northing (m)	RL (m)	From (m)	To (m)	Downhole Thickness Of logged sulphides(m)
				371	381	10
Ti1	874,303	994,010	638	384	391	7
				395	417	22
Ti2	874,197	993,719	692	309 325 342	317 336 423	8 11 81
Ti7	874,310	993,655	680	369	378	9
				410	457	47
				465	484	19
Ti8	874,520	993,541	640	465 497	485 510	20 13
Ti26	874,704	993,509	584	465	469	4
				476	486	10

Criteria	Commentary
Data aggregation methods	●No data has been aggregated
Relationship between mineralisation widths and intercept lengths	●No mineralised intercepts are presented. ●However as can be seen from sections presented in the report surface drilling is close to optimal when intersecting the shallowly dipping ore bodies indicating intersection widths of sulphides are close to true width
Diagrams	●See report
Balanced reporting	●The author has made every attempt to
Other substantive exploration data	●The Tisová Cu mine operated over a long period and was detailed in the final report. 1984 P. Kozubek et al. Tisová Copper Mine –Final Report Rudné doly Příbram np. ●However this report refers to the copper mining history and exploration and Tisová – other elements such as Cobalt and Gold were not routinely sampled for or documented
Further work	●Auroch are planning to drill 4 Diamond Drill holes in Sep-Oct 2017.

Auroch Minerals Ltd ABN 91 148 966 545 Unit 5, Ground Floor, 1 Centro Ave, Subiaco WA 6008 Phone: +61 8 9486 4036 Fax: + 61 8 9486 4799 PO Box 510 Subiaco WA 6904 Email: admin@aurochminerals.com.au www.aurochminerals.com.au

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