ORE RESOURCES LIMITED — Capital/Financing Update 2017

Apr 11, 2017

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12 April 2017

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

Settlement proceeds realized from Xtract Resources Plc

Highlights:

• A$ 1,280,333 realised from the repayment and conversion of US$748,136 Convertible Loan

• • Current cash and receivable balance of ~ A$ 8.1 million

Auroch Minerals Limited ( Auroch or the Company ) is pleased to advise it has crystallized A$1,280,333[1] in cash via the sale of shares in Xtract on the AIM market in addition to the receipt of cash payments from Xtract Resources Plc ( Xtract ) (refer ASX announcement 2 March 2017).

The Convertible Loan Note with Xtract with a face value of US$748,136 has now been repaid.

A further US$ 1 million is still outstanding, together with accrued interest of US$13,972. This amount accrues interest at 10% p.a. and is due for repayment no later than December 31, 2017; being settled firstly in cash or repaid via the issue of shares in Xtract at a 15% discount to the 10 day.

Auroch Executive Chairman commented:

“The receipt of further funds from the sale of the Manica transaction is a positive step for both side. We are pleased with the recognition that the market has given to Xtract and the Manica Project and we wish them well.”

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

Glenn Whiddon Executive Chairman Auroch Minerals Limited

1 Based on a GBP/AUD exchange rate of 1GBP = 1.65AUD

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