ORE RESOURCES LIMITED — Capital/Financing Update 2018

Jun 19, 2018

==> picture [162 x 44] intentionally omitted <==

20 June 2018 Market Announcements Platform ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000

Non-renounceable Pro Rata Offer

Auroch Minerals Limited ( ASX:AOU ) ( Auroch or the Company ) is please to announce that it has lodged a Prospectus with the Australian Securities & Investment Commission today for the raising of up to approximately $658,350 (before costs) through a non-renounceable, pro rata offer of options, each exercisable at $0.10 on or before 30 November 2021 ( New Options ), at an issue price of $0.02 per New Option to eligible shareholders on the basis of one (1) New Option for every three (3) Shares held on the record date ( Offer ).

The record date for determining entitlements to New Options is at 5.00pm (WST) on 26 June 2018.

Eligible shareholder will be holders as at the record date whose address in the Company's register is in Australia or New Zealand.

As the Offer is non-renounceable, the rights may not be transferred or sold. Up to approximately 32,917,601 New Options will be issued pursuant to the Offer.

The funds raised under the Offer will be used to supplement the Company's existing cash reserves and will be primarily used to fund further work on the Arden and Bonaventura projects, including completion of aeromagnetic, geomagnetic and IP surveys and further drilling, and will otherwise be used for general working capital purposes.

The Offer is fully underwritten by Clarion Finance Pte Ltd. An underwriting fee of 2.5% is to be paid on the underwriting commitment (calculated by multiplying the maximum number of New Options to be issued under the Offer by the issue price of $0.02 per New Option).

The proposed timetable of the Offer is as follows:

The proposed timetable of the Offer is as follows:
Lodgement of Prospectus with ASIC and provision of copies to ASX	20 June 2018
Appendix 3B given to ASX	20 June 2018
Notice sent to security holders	22 June 2018
Existing Shares quoted on an "ex" basis	25 June 2018
Record Date	26 June 2018
Prospectus and Entitlement and Acceptance Form sent to EligibleShareholders	29 June 2018

Auroch Minerals Ltd ABN 91 148 966 545

1A/1Alvan St, 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

==> picture [162 x 44] intentionally omitted <==

Last Day to extend offer closing date	5 July 2018
Closing Date	10 July 2018
Existing Shares quoted on a deferred settlement basis	11 July 2018
ASX notified of under subscriptions	13 July 2018
Anticipated date for the issue of the New Options	17 July 2018

* Subject to the Listing Rules, the Directors reserve the right to extend the Closing Date for the Offer at their discretion. Any extension of the Closing Date will have a consequential effect on the anticipated date for issue of the New Options.

** Indicative date only.

Full details of the offer are contained in the Prospectus released to ASX today.

The Company will make further announcements, including announcing to ASX when the New Options have been issued (including a further Appendix 3B) and holding statements dispatched.

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

Auroch Minerals Limited

Glenn Whiddon

Chairman

T: +61 8 9486 4036

Auroch Minerals Ltd ABN 91 148 966 545

1A/1Alvan St, 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