ORE RESOURCES LIMITED — Capital/Financing Update 2018

Apr 8, 2018

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

Auroch completes acquisition of two high grade zinc projects in world class Australian base metals region

Highlights

• Auroch completes the acquisition of the Arden Zinc Project and the Bonaventura Zinc Project in South Australia following shareholder approval.

Auroch Minerals Limited ( Auroch or the Company ) is pleased to confirm it has completed the acquisition of 90% of the tenement known as the Arden Zinc Project ( Arden Project ) and 100% of the tenement known as the Bonaventura Zinc Project (Bonaventura Project ) located in the world-class base-metal mining region of South Australia. Please refer to the Company's announcement of 6 March 2018 for further information about these projects.

As approved by shareholders at the Company’s General Meeting held earlier today, Auroch has issued the following securities as consideration for the acquisitions:

• a. 8,300,000 shares;

• b. 6,400,000 class A performance shares which vest on publication of a JORC (2012) Indicated Resource for the Arden Zinc Project of at least 3Mt @ greater than 10% ZnEq with a cut-off grade of at least 3% ZnEq;

• c. 2,300,000 class B performance shares which vest on publication of a JORC (2012) Indicated Resource for the Bonaventura Zinc Project of at least 2Mt @ greater than 10% ZnEq, with a cutoff grade of at least 5% ZnEq; and

• d. 2,300,000 class C performance shares which vest on publication of a JORC (2012) Indicated Resource for the Bonaventura Zinc Project of at least 5Mt @ greater than 10% ZnEq, with a cutoff grade of at least 5% ZnEq.

The above consideration securities are subject to voluntary escrow restrictions such that 1/3 will be freely tradable on issue, 1/3 will be escrowed for 6 months following completion and 1/3 will be escrowed for 12 months following completion.

Auroch has also reimbursed vendor costs of $150,000 as part of the acquisitions.

Contemporaneous with completion of the acquisitions, Auroch has also issued:

1A/1Alvan St, Subiaco WA 6008 Phone: +61 8 9486 4036 Fax: + 61 8 9486 4799

Auroch Minerals Ltd ABN 91 148 966 545

PO Box 510 Subiaco WA 6904 Email: admin@aurochminerals.com.au www.aurochminerals.com.au

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• e. 1,500,000 shares to the party that introduced the acquisitions as well as 1,000,000 class D performance shares which vest if any of the above performance milestones applicable to the class A, class B and class C performance shares are achieved; and

• f. a total of 8,000,000 performance rights to Auroch directors, employees or contractors which vest over 2 years subject to continuous service with the Company.

A completed Appendix 3B in respect of the above securities follows this announcement.

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

Auroch Minerals Limited

Glenn Whiddon

Executive 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

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NOTICE UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT 2001

This notice is given by Auroch Minerals Limited ( Auroch or the Company ) in relation to the issue of 9,851,000 fully paid ordinary shares ( Shares ) as detailed in the Appendix 3B which follows this announcement.

The Corporations Act 2001 (Cth) ( Act ) restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A of the Act. By giving this notice, the Shares detailed in the following Appendix 3B will fall within the exemption in section 708A(5) of the Act.

Pursuant to section 708A(5)(e) of the Act the Company gives notice that:

• a. the Shares were issued without disclosure to investors under Part 6D.2 of the Act;

• b. the Company is providing this notice under paragraph (5)(e) of section 708A of the Act;

• c. as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company;

• d. as at the date of this notice, the Company has complied with section 674 of the Act; and

• e. as at the date of this notice, there is no information:

• i. that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

• ii. that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

  • A. the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

  • B. the rights and liabilities attaching to the shares.

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