ORE RESOURCES LIMITED — Capital/Financing Update 2020

Aug 12, 2020

ASX ANNOUNCEMENT

13 August 2020

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AC RESULTS DEFINE NICKEL SULPHIDE DRILL TARGETS AT VALDEZ

Highlights

• Assay results received and modelled for the recently completed air-core ( AC ) drill programme over the Valdez Prospect

• Results show thick intercepts of elevated nickel within a prospective and highly-fertile channel

• Modelled channel is coincident with both an aeromagnetic high and an electromagnetic (EM) anomaly, further increasing the potential to host massive nickel sulphides

• Follow-up reverse-circulation (RC) drill programme to test the new channel target at depth is scheduled to commence within two weeks

• Diamond drilling is ongoing at the Saints Nickel Project with results pending

Auroch Minerals Limited ( ASX:AOU ) ( Auroch or the Company ) is pleased to announce it has received and modelled all assays from the first-pass AC drill programme completed in July at the exciting Valdez Prospect within the Company’s 100%-owned Leinster Nickel Project ( Leinster ) in Western Australia.

A full litho-geochemical review and model of the results has successfully defined a highly-fertile ultramafic ( UM ) rock unit within an embayment or channel with a strike length of over 150m. Thick zones of anomalously high nickel values were intersected within this prospective channel, including[1] :

• 9m @ 0.41% Ni from 33m, including 3m @ 0.52% Ni from 39m (VZAC013)

• 6m @ 0.37% Ni from 48m (VZAC008)

• 6m @ 0.35% Ni from 66m (VZAC009).

The significant intersections of nickel are hosted within a high MgO ultramafic unit in a modelled basal channel which lies above aeromagnetic anomalies, and are also coincident with a strong EM conductor defined by a historic surface moving-loop electromagnetic ( MLEM ) survey (see Figure 1). All of these characteristics are favourable for massive nickel sulphide mineralisation and hence further enhance the potential of the Valdez target.

A follow-up RC drilling campaign to test these new targets and acquire down-hole EM ( DHEM ) data to help vector in on potential nickel sulphide mineralisation has already been planned and permitted, and will commence within the next two weeks.

Auroch Managing Director Aidan Platel commented :

“ Since its acquisition, the Valdez Prospect has been considered a high-potential exploration target, given its location and proximity to Saracen’s (ASX:SAR) high-grade Waterloo Nickel Mine. The Company’s exploration strategy is once again proving effective in advancing early stage targets to high-priority drill targets. The excellent nickel results from the recent AC drilling of the weathered profile really highlights the potential of significant massive nickel sulphide mineralisation underneath

1 Significant intersections calculated at ≥ 0.3%Ni, samples were 3m composites; see Table 1 for full list of results

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ASX ANNOUNCEMENT 13 August 2020

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in the fresh rock, which we look forward to testing with the upcoming RC drilling phase within the next two weeks.”

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Photo 1 – Air-core drilling at the Valdez Prospect of the Leinster Nickel Project

The aim of the ~4,400m AC programme completed in mid-July was to characterise the ultramafic package at Valdez, in particular where it overlies the strong MLEM anomaly. The ultramafic unit at the Valdez Prospect is the same unit which hosts Saracen Mineral Holding Ltd’s ( ASX:SAR ) Waterloo Nickel Mine along strike. Historic drilling (predominately RAB), partially defined a north-south -striking ultramafic unit overlying the MLEM anomaly; however, the historic data was too shallow and widely spaced and hence insufficient for detailed characterisation or identification of any possible fertile channels. Given the deep nature of the MLEM anomaly, Auroch implemented the same systematic exploration strategy which has provided recent success at its Saints Nickel Project, and completed 11 AC lines across the ultramafic unit comprising 61 drill-holes for 4,411m.

Litho-geochemical review of the results and modelling of the basal ultramafic-mafic contact has defined a prospective channel overlying both a magnetic high and the MLEM anomaly (Figure 1). The ultramafic unit within the modelled channel is characterised as highly fertile based on geochemical signatures including elevated Ni (>0.3% Ni), high MgO, elevated Cu and Ag, and low Cr and Zn, all of which are considered favourable characteristics for hosting significant Kambalda-style massive nickel sulphide mineralisation.

The next exploration phase at Valdez will consist of 3-5 RC drill-holes over the 150m strike length of the channel. The holes will aim to intersect the basal ultramafic-mafic contact at a (down-hole) depth of 150-200m, well into the fresh rock, and will extend a further 50m into the mafic unit. All holes will be surveyed with DHEM to identify any potential conductive bodies (e.g. massive sulphides) within the channel area. The drilling campaign has been permitted and is scheduled to commence within the next two weeks.

The diamond drilling programme at the Saints Nickel Project is ongoing, with initial results expected to be received by the end of next week.

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ASX ANNOUNCEMENT

13 August 2020

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Figure 1 – AC drill-hole locations & anomalous Ni results (>0.3% Ni) in relation to the aeromagnetic highs (RTP east shade non-linear) and the strong MLEM conductor (plate)

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ASX ANNOUNCEMENT

13 August 2020

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This announcement has been authorised by the Board of Directors of the Company.

-END-

For further information contact:

Aidan Platel

Managing Director

E: aplatel@aurochminerals.com

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr Aidan Platel and represents an accurate representation of the available data. Mr Platel (Member of the Australian Institute of Mining and Metallurgy) is the Company’s Chief Geological 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’ ("JORC Code 2012"). Mr Platel consents to the disclosure of this information in this report in the form and context in which it appears.

The information in this release that relates to Geophysical Results and Interpretations is based on information compiled by Russell Mortimer, Consultant Geophysicist at Southern Geoscience Consultants. Russell Mortimer is a Member of the Australasian Institute of Geoscientists (AIG) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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’. Russell Mortimer consents to the inclusion in the release of the matters based on this information in the form and context in which it appears.

ASX Listing Rule Information

The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the original market announcements continue to apply and have not materially changed. The company confirms that the form and context in which the competent persons findings have not been materially modified from the original announcement.

Forward-Looking Statements

This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Auroch Minerals Limited’s planned exploration program and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may”, "potential", "should," and similar expressions are forward-looking statements. Although Auroch Minerals Limited believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.

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ASX ANNOUNCEMENT

13 August 2020

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Location of the Leinster and the Saints Nickel Projects, Western Australia

Table 1 – Full Table of Results from recent AC drill-holes at the Valdez Prospect of the Leinster Nickel Project (0.3% Ni cut-off)

Drill-hole ID	Easting (m)	Northing (m)	Elevation (m)	Azimuth	Dip	Final Depth(m)	Significant Intersection (≥0.30% Ni)
VZAC001	301,450	6,893,218	489.1	090°	-60°	79	NSI
VZAC002	301,412	6,893,221	489.0	090°	-60°	76	NSI
VZAC003	301,370	6,893,222	488.6	090°	-60°	99	NSI
VZAC004	301,332	6,893,213	488.5	090°	-60°	81	3m@0.30% Ni from 45m
VZAC005	301,297	6,893,209	488.1	090°	-60°	66	NSI
VZAC006	301,412	6,893,302	486.2	090°	-60°	73	NSI
VZAC007	301,371	6,893,296	488.2	090°	-60°	100	NSI
VZAC008	301,329	6,893,299	487.9	090°	-60°	73	6m@0.37% Ni from 48m
VZAC009	301,293	6,893,297	487.6	090°	-60°	82	6m@0.35% Ni from 66m
VZAC010	301,252	6,893,299	487.4	090°	-60°	52	NSI
VZAC011	301,372	6,893,378	487.3	090°	-60°	70	NSI
VZAC012	301,336	6,893,375	487.3	090°	-60°	89	NSI
VZAC013	301,291	6,893,377	487.0	090°	-60°	90	9m @ 0.41% Ni from 33m, incl 3m@0.52% Ni from 39m
VZAC014	301,252	6,893,381	486.6	090°	-60°	74	NSI
VZAC015	301,211	6,893,371	486.3	090°	-60°	46	NSI
VZAC016	301,332	6,893,536	485.8	090°	-60°	78	NSI
VZAC017	301,294	6,893,536	485.6	090°	-60°	103	NSI

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ASX ANNOUNCEMENT

13 August 2020

VZAC018	301,258	6,893,536	485.5	090°	-60°	56	NSI
VZAC019	301,215	6,893,534	485.0	090°	-60°	51	NSI
VZAC020	301,175	6,893,534	485.0	090°	-60°	58	NSI
VZAC021	301,333	6,893,620	485.2	090°	-60°	72	NSI
VZAC022	301,293	6,893,619	484.9	090°	-60°	87	3m@0.33% Ni from 27m
VZAC023	301,255	6,893,619	484.7	090°	-60°	77	NSI
VZAC024	301,214	6,893,610	484.4	090°	-60°	55	NSI
VZAC025	301,175	6,893,615	484.2	090°	-60°	59	NSI
VZAC026	301,115	6,893,621	484.0	090°	-60°	72	NSI
VZAC027	301,332	6,893,697	484.7	090°	-60°	76	NSI
VZAC028	301,293	6,893,699	484.5	090°	-60°	91	NSI
VZAC029	301,254	6,893,703	484.2	090°	-60°	90	NSI
VZAC030	301,213	6,893,698	483.9	090°	-60°	80	3m@0.31% Ni from 69m
VZAC031	301,176	6,893,693	483.9	090°	-60°	54	NSI
VZAC032	301,491	6,893,079	488.0	090°	-60°	88	NSI
VZAC033	301,455	6,893,081	490.2	090°	-60°	80	NSI
VZAC034	301,414	6,893,080	489.9	090°	-60°	97	NSI
VZAC035	301,374	6,893,082	489.6	090°	-60°	69	NSI
VZAC036	301,330	6,893,079	489.4	090°	-60°	79	NSI
VZAC037	301,288	6,893,085	489.3	090°	-60°	54	NSI
VZAC038	301,496	6,892,999	489.1	090°	-60°	63	NSI
VZAC039	301,457	6,893,004	491.0	090°	-60°	80	NSI
VZAC040	301,416	6,892,999	490.6	090°	-60°	72	3m@0.36% Ni from 30m
VZAC041	301,376	6,892,997	490.3	090°	-60°	78	NSI
VZAC042	301,329	6,892,996	490.0	090°	-60°	61	NSI
VZAC043	301,493	6,892,882	492.1	090°	-60°	67	NSI
VZAC044	301,449	6,892,875	491.8	090°	-60°	78	NSI
VZAC045	301,412	6,892,880	491.7	090°	-60°	78	NSI
VZAC046	301,373	6,892,884	491.5	090°	-60°	81	NSI
VZAC047	301,333	6,892,882	491.0	090°	-60°	70	NSI
VZAC048	301,890	6,892,037	501.0	090°	-60°	70	NSI
VZAC049	301,813	6,892,034	500.9	090°	-60°	53	NSI
VZAC050	301,731	6,892,034	499.9	090°	-60°	63	NSI
VZAC051	301,652	6,892,039	499.9	090°	-60°	59	NSI
VZAC052	301,573	6,892,038	498.9	090°	-60°	68	NSI
VZAC053	301,489	6,892,045	498.8	090°	-60°	67	NSI
VZAC054	301,409	6,892,042	497.9	090°	-60°	68	NSI
VZAC055	301,334	6,892,037	497.8	090°	-60°	63	NSI
VZAC056	301,800	6,891,843	501.7	090°	-60°	53	NSI
VZAC057	301,724	6,891,846	501.6	090°	-60°	63	NSI
VZAC058	301,642	6,891,851	501.0	090°	-60°	53	NSI
VZAC059	301,560	6,891,850	500.0	090°	-60°	60	NSI
VZAC060	301,477	6,891,842	500.1	090°	-60°	84	NSI
VZAC061	301,427	6,891,850	499.2	090°	-60°	83	NSI

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ASX ANNOUNCEMENT

13 August 2020

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JORC Code, 2012 Edition, Table 1 (Valdez Prospect) Section 1: Sampling Techniques and Data

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Sampling techniques	● Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. ● Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. ● Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1m samples from which 3kg was pulverised to produce a 30g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	● Geochemical samples at Valdez have been produced by drilling from surface to 464m, vertical depth. Drilling methods employed from 1996-2015 include aircore, rotary air blast (RAB)s, percussion/ reverse circulation (RC) and diamond cored drilling. ● Aircore, percussion and RC drilling returns a sample of broken rock collected in a bag at site at the time of drilling. Drill core from diamond drilling technique is later split by a core saw. ● Documentation of measures taken by previous operators (Breakaway Resources and WMC/Forrestania Gold) 1993-2010 to ensure sample representivity is not available. ● Historical drill core has been geologically logged by experienced geologists with core orientation determined where possible, allowing accurate 3- dimensional location of the Saints mineralisation. RC drill chips were geologically logged every 1m by experienced geologists. ● Historic drill hole assays, in conjunction with historic geological logging data, have been used by AOU to gain an understanding of the mineralisation at Horn. ● 1996-2005 (WMC/Forrestania Gold): RC samples, 1 - 4m composites and 0.19 – 1.9m composite diamond core samples, Analysis at Genalysis Laboratories Multi Acid Digest - Inductively Coupled Plasma Optical (Atomic) Emission Spectrometry ● 2006-2011 (Breakaway): 4m RAB composite samples, Genalysis ATOES ● 2020 (Auroch Minerals): Air Core drilling produced a 1m bulk sample collected in green plastic bag from an onboard cyclone. 3m composite samples were collected via scoop, 1m end of hole samples were collected via scoop. All samples were submitted to ALS Minerals, ME-MS61, PGM- ICP23 conducted on all samples.
Drilling techniques	● Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc).	● 1996-2005 (WMC/Forrestania Gold): AC/RAB, 10 RC-percussion holes for 1699m diameter unspecified, no downhole surveys; 11 diamond core drill holes for 4097m - diameter unspecified, 30m downhole surveys by Eastman Single Shot camera. ● 2006-2010(Breakaway): 28 RC holes for

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ASX ANNOUNCEMENT

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
		5066m, diameter unspecified, 30m Eastman single shot camera or Reflex tool; 62 diamond core drill holes for 13207m, HQ and NQ, 30m Eastman single shot camera or Reflex tool surveys followed up with north-seeking gyro survey (5m intervals), core structurally orientated by method unspecified. ● Valdez; RAB 55 holes for 5304m, Auger 16 holes for 181m, AC 8 holes for 355m, Diamond 1 hole for 464.2m. Diamond drill holes were were surveyed with multi shot reflex tool. RAB, AC & Aug were drilled vertical and angled. ● 2020 (Auroch Minerals): 61 AC holes for 4411m, all holes were drilled on -60 degree digand 90 degree azimuth
Drill sample recovery	● Method of recording and assessing core and chip sample recoveries and results assessed. ● Measures taken to maximise sample recovery and ensure representative nature of the samples. ● Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	● Sample recovery assessment details not documented by previous operators WMC/Forrestania Gold. ● Sample recovery assessment details not documented by previous operators Breakaway Resources. ● 2020 AC drilling; sample recovery, moisture content are recorded for each metre in field at the time of drilling.
Logging	● Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. ● Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. ● The total length and percentage of the relevant intersections logged.	● Geological logging data collected to date is sufficiently detailed. At this stage detailed geotechnical logging is not required. ● Geological logging is intrinsically qualitative. ● 2006 – 2010 (Breakaway): Diamond core have been photographed in the core trays. ● Only selective core photos are available for historic drilling by WMC/Forrestania Gold (1996-2005). ● Historic drill holes were geologically logged by previous operators and these data are available to Auroch Minerals. ● 2020 (Auroch Minerals) All holes are Geologically logged, with logical contacts, textural and sulphide changes accounted for. Representative chips are collected from each metre and retained in chip trays for reference.
Sub-sampling techniques and sample preparation	● If core, whether cut or sawn and whether quarter, half or all core taken. ● If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. ● For all sample types, the nature, quality and appropriateness of the sample preparation technique.	● 1996 – 2005 (WMC/Forrestania Gold): Statutory reports detail Core was sampled as sawn half or quarter core, generally in continuous lengths with sampling consistently on the same side of the core, ● 2006 – 2010 (Breakaway): Core was sampled predominantly as sawn half core with somequarter core,generallyin

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	● Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. ● Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. ● Whether sample sizes are appropriate to the grain size of the material being sampled.	continuous lengths with sampling consistently on the same side of the core. ● Measures taken by WMC/Forrestania Gold and Breakaway 1996 - 2010 to ensure RC, percussion sample representivity have not been documented. ● 1m RC percussion, maximum 1m length core samples, or as close as reasonable within geological boundaries, are considered appropriate for the style of mineralisation being targeted. ● Historic drill holes were logged at level of detail to ensure sufficient geological understanding to allow representative selection of sample intervals. ● Sampling QAQC measures taken by Forrestania Gold and Breakaway 1996 – 2010 have not been documented. ● It is assumed that Forrestania Gold and Breakaway sample sizes were appropriate for the type, style and thickness of mineralisation tested. ● 2020 (Auroch Minerals); AC 3kg composite chip samples were collected. 1kg scoop was taken from each individual metre sample in the 3m composite. Sample moisture was recorded and retained. Single 1metre samples were taken of the final metre of each hole, this is considered a base of oxidation or top of fresh rock sample. These sampling procedures are considered appropriate for the nature of Air Core drilling.
Quality of assay data and laboratory tests	● The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. ● For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. ● Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	● 1996 - 2005 (WMC/Forrestania Gold): Genalysis mixed four acid digest followed by AT/OES analysis ● 2006 - 2010 (Breakaway): Genalysis or Ultratrace mixed four acid digest followed by AT/OES analysis. Matrix and massive sulphides subjected were cast using a 12:22 flux (sodium nitrate) to form a glass bead (silicate fusion) followed by XRF analysis. Disseminated sulphides were subjected to four acid digested followed by AT/OES analysis. Pd, Pt and Au analysed by Pb collect fire assay. ● Nickel sulphide collection fire assay NIS- MS, AT/OES and Silicate Fusion XRF are considered the most appropriate methods for Ni determination. ● No other instruments outside of the Genalysis/ Ultratrace laboratories were used for analyses of 1996 - 2010 samples. ● It is assumed that industry standard commercial laboratoryinstruments were

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ASX ANNOUNCEMENT

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
		used by Genalysis/Ultratrace analyse historical drill samples from the Horn prospect. ● It is assumed that industry best practice was used by previous operators to ensure acceptable assay data accuracy and precision. Historical QAQC procedures are not recorded in available documents. ● 2006 – 2010 (Breakaway): QAQC procedures are not recorded in available documents, however approximately 1:20 commercially available base metal standards were inserted in the sampling schedule for diamond core samples which is documented in Breakaway drilling data files. ● 2020 (Auroch Minerals): ALS Minerals, multi element analysis method ME-ICP61 utilised for all samples, consisting of multi acid digestion with HF and ICPAES analysis. Fire Assay was utilised platinum, palladium and gold. Methods are considered suitable for the style of mineralisation targeted. ● 2020 (Auroch Minerals): Certified Reference Material (CRM’s) and quartz blank (Blanks) samples are inserted 1:30 for AC. Accuracy and performance of CRM’s and Blanks are considered after results are received.
Verification of sampling and assaying	● The verification of significant intersections by either independent or alternative company personnel. ● The use of twinned holes. ● Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. ● Discuss any adjustment to assay data.	● All historic drilling data including collar coordinates, hole orientation surveys, total depth, sampling intervals and lithological logging were collated from statutory annual reports and historic digital data files and verified by Auroch’s Geologists. ● No indication of drill holes being twinned by previous workers has been observed or documented. ● It is assumed that industry best practice was used for collection, verification and storage of historic data. ● Historical drilling data from Forrestania Gold and Breakaway were compiled in a Microsoft Access database. ● No adjustments to assay data were undertaken.
Location of data points	● Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. ● Specification of the grid system used. ● Quality and adequacy of topographic control.	● Historical drill collars were surveyed in AGD84 datum by Forrestania Gold and Breakaway Resources and converted to GDA94/MGA Zone 51 by Breakaway Resources in their Access drill hole database. ● 1996-2005 (Scotia Nickel) drill collars were located by differential GPS relative to AGD84 datum. Downhole surveying by Eastman single- shot

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ASX ANNOUNCEMENT

13 August 2020

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
		● 2006-2010 (Breakaway) drill collars were located using a handheld GPS relative to the AGD84 datum achieving ± 4 metre accuracy. Downhole surveying by Eastman single shot camera, Reflex tool and north-seeking gyro tool. ● 2020 (Auroch Minerals): AC Drill holes are planned out using a handheld GPS relative to GDA94/MGA Zone 51 achieving +-4m accuracy. RC Drill holes are planned out with a handheld GPS, at completion of drilling, hole collars are surveyed with a differential GPS relative to GDA94/MGA Zone 51 and AHD elevation achieving+- 15cm accuracy.
Data spacing and distribution	● Data spacing for reporting of Exploration Results. ● Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. ● Whether sample compositing has been applied.	● 1996-2005 (Forrestania Gold): Typically sampled in 1-4 metre intervals, skipping intervals of no interest and increasing the frequency of sampling depending on the geology observed in diamond drill core (smallest sample length 0.1m). ● 2006-2010 (Breakaway Resources): Drilling typically sampled in 4 metre intervals from start of hole, increasing the sampling rate to every metre or to more detail depending on the geology observed in diamond drill core (smallest sample length 0.15m). ● Drill data spacing of historic drill data (1996-2010) is sufficient to establish the degree of geological and grade continuity appropriate for estimating an Inferred Ni Resource. ● 2020 Auroch Minerals; Air Core drilling was conducted on 40mx80m and 80mx160m grids, this close spaced drilling provides accurate control on geology in poorly tested areas.
Orientation of data in relation to geological structure	● Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. ● If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	● Historical drill holes were oriented, as far as reasonably practical, to intersect the centre of the targeted mineralised zone perpendicular to the interpreted strike orientation of the mineralised zone. ● The geometry of drill holes relative to the mineralised zones achieves unbiased sampling of this deposit type. ● No orientation-based sampling bias has been identified.
Sample security	● The measures taken to ensure sample security.	● It is assumed that due care was taken historically with security of samples during field collection, transport and laboratory analysis. ● 1996 – 2005 (Forrestania Gold): No location of drill samples or core is documented in historical annual reports. ● 2020(Auroch Minerals); Chipsamples

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Auroch Minerals Ltd ABN 91 148 966 545 Suite 1, 295 Rokeby Rd, Subiaco WA 6008 Phone: +61 8 6555 2950 Fax: +61 8 6166 0261 Email: admin@aurochminerals.com www.aurochminerals.com

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ASX ANNOUNCEMENT

13 August 2020

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
		collected at time of drilling and assigned a unique sample identification which is labelled on the calico sample bag. Samples were delivered to ALS minerals within 48hrs of beingcollected.
Audits or reviews	● The results of any audits or reviews of samplingtechniques and data.	● No independent audit or review has been undertaken.

Section 2: Reporting of Exploration Results

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Mineral tenement and land tenure status	● Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. ● The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	● The Leinster project consists of exploration leases E36/899 (Horn) & E36/936 (Valdez), is held by Altia Resources Ltd (Altia), a wholly owned subsidiary of Auroch Minerals Ltd. ● Third Party Rights Sandstorm Gold Ltd holds 2.5% Net Smelter Royalty (NSR) on E36/899 and E36/936 pertaining to all ores, minerals concentrates and other products containing nickel, copper and platinum group elements. ● There are no material issues with regard to access. ● The tenement is in good standing and no known impediments exist.
Exploration done by other parties	● Acknowledgment and appraisal of exploration by other parties.	● Significant exploration drilling has been conducted previously by Western Mining Corporation (WMC), Scotia Nickel/LionOre and Breakaway Resources at the Leinster Project, including AC, percussion/RC and diamond core drilling. ● Data collected by these entities has been reviewed in detail byAOU.
Geology	● Deposit type, geological setting and style of mineralisation.	● The Leinster Project is regarded as an Archaean komatiite-hosted massive nickel sulphide deposit. The project straddles the Weebo-Mt Cliffordgreenstone belt.
Drill hole Information	● A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: ● easting and northing of the drill hole collar ● elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar ● dip and azimuth of the hole ● down hole length and interception depth ● hole length. ● If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearlyexplain whythis is the case.	● A Drill hole location table has been included in this announcement.
Data	● In reporting Exploration Results, weighting averagingtechniques, maximum and/or minimum	● Exploration Results were reported by using the weighted average of each sample result

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Auroch Minerals Ltd ABN 91 148 966 545 Suite 1, 295 Rokeby Rd, Subiaco WA 6008 Phone: +61 8 6555 2950 Fax: +61 8 6166 0261 Email: admin@aurochminerals.com www.aurochminerals.com

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ASX ANNOUNCEMENT

13 August 2020

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
aggregation methods	grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. ● Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. ● The assumptions used for any reporting of metal equivalent values should be clearlystated.	by it’s corresponding interval length, as is industry standard practice. ● Grades >0.3% Ni are considered significant for exploration purposes. ● A lower cut-off grade of 0.3% Ni has been used to report the Exploration results. Top- cuts were deemed not applicable considering the style of Ni mineralisation. ● Metal equivalent values have not been used.
Relationship between mineralisation widths and intercept lengths	● These relationships are particularly important in the reporting of Exploration Results. ● If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. ● If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	● Most drill holes were angled to the East so that intersections are orthogonal to the orientation of mineralisation.
Diagrams	● Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	● Relevant diagrams have been included within the announcement.
Balanced reporting	● Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	● All results have been reported in the Significant Intercepts Table.
Other substantive exploration data	● Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminatingsubstances.	● No other substantive data exists.
Further work	● The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). ● Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commerciallysensitive.	● Refer to diagrams in the body of text.

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FOLLOW US

Auroch Minerals Ltd ABN 91 148 966 545 Suite 1, 295 Rokeby Rd, Subiaco WA 6008 Phone: +61 8 6555 2950 Fax: +61 8 6166 0261 Email: admin@aurochminerals.com www.aurochminerals.com