ORE RESOURCES LIMITED — Investor Presentation 2020

Oct 5, 2020

DEVELOPING HIGHGRADE NICKEL SULPHIDE PROJECTS IN WESTERN AUSTRALIA

Australian Nickel Conference October 2020

SAINTS NICKEL PROJECT

HIGH GRADE RESOURCE 1.05Mt @ 2.0% Ni & 0.2% Cu

==> picture [417 x 540] intentionally omitted <==

DISCLAIMER

==> picture [121 x 31] intentionally omitted <==

This presentation has been prepared by Auroch Minerals Ltd (Auroch or the Company). It contains general information about the Company’s activities current as at the date of the presentation. The information is provided in summary form and does not purport to be complete. This presentation is not to be distributed (nor taken to have been distributed) to any persons in any jurisdictions to whom an offer or solicitation to buy shares in the Company would be unlawful. Any recipient of the presentation warrants to the Company that the receipt of the presentation is not unlawful. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation or any information, opinions or conclusions expressed in the course of this presentation.

This presentation is not a prospectus, product disclosure document or other offering document under Australian law or under any other law. It has been prepared for information purposes only. This presentation contains general summary information and does not take into account the investment objectives, financial situation and particular needs of any individual investor. It is not financial product advice and investors should undertake their own due diligence and obtain their own independent advice from qualified professional advisors having regarding to their objectives, financial situation and needs. Neither Auroch nor any of its related bodies corporate is licensed to provide financial product advice.

This presentation and information, opinions or conclusions expressed in the course of this presentation contains forecasts, projections and opinions which constitute forward looking statements. Forward looking statements include, but are not limited to, statements concerning the Company’s exploration programme, outlook and target sizes. They include statements qualified by words such as “potential”, “target”, “scheduled”, “planned”, “estimate”, “possible”, “future”, “prospective” and similar expressions. Such forward looking statements are not a guarantee of future performance, and are subject to numerous risks, uncertainties and other factors, including unknown ones. Actual results and developments will almost certainly differ materially from those expressed or implied. There are a number of risks, both specific to Auroch and of a general nature which may affect the future operating and financial performance of Auroch and the value of an investment in Auroch including but not limited to title risk, renewal risk, economic and general market conditions, stock market fluctuations, price movements, regulatory risks, operational risks, reliance on key personnel, uncertainties relating to interpretation of exploration results, geology and resource estimations, native title risks, foreign currency fluctuations, uncertainties relating to the availability of/access to additional capital, infrastructure or environmental approvals, and mining development, construction and commissioning risk. Auroch expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, orotherwise.

To the maximum extent permitted by law, no representation, warranty or undertaking, express or implied, is made and no responsibility or liability is accepted, by the Company or any of its officers, employees, agents or consultants or any other person, as to the adequacy, accuracy, completeness or reasonableness of the information in this presentation. An investment in the shares of the Company is to be considered highly speculative.

The exploration targets or conceptual exploration targets in this presentation or expressed during the course of this presentation are subject to completion of the necessary feasibility studies, permitting and execution of all necessary infrastructure agreements. In relation to any statements pertaining to future exploration targets or conceptual exploration targets, the nature of the exploration target means that the potential quantity and grade is conceptual in nature. This presentation and information, opinions or conclusions expressed in the course of this presentation should be read in conjunction with Auroch’s other periodic and continuous disclosure announcements lodged with the ASX, which will be available on the Aurochwebsite.

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 report that relates to Mineral Resources for the Saints Project was reported by Minotaur Exploration Ltd (ASX:MEP) to the ASX on 4th May 2017 under JORC Code 2012 (refer https://www.asx.com.au/asxpdf/20170504/pdf/43j0r0dt0ytq74.pdf). The information in this report in relation to Mineral Resources for the Saints Project is based on, and fairly represents, the available data and studies for the project which have been compiled by Mr Aidan Platel. 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 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 report that relates to Mineral Resources for the Leinster Project was reported by Breakaway Resources Ltd to the ASX on 14th April 2008 under JORC Code 2004 (refer https://www.asx.com.au/asxpdf/20081024/pdf/31d3x55rpn6dxy.pdf). A Competent Person (as defined in the JORC Code 2012) has not done sufficient work to classify this Mineral Resource in accordance with JORC Code 2012. The information in this report in relation to Mineral Resources for the Leinster Project is an accurate representation of the available data and studies for the project which have been compiled by Mr Aidan Platel. 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 JORC Code 2012. Mr Platel consents to the disclosure of this information in this report 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

This presentation contains information extracted from the following ASX market announcements which are available on the Company’s website at www.aurochminerals.com:

•	DRILLING COMMENCES AT FIREFLY & SINCLAIR NORTH Ni PROSPECTS	22 September 2020	22 September 2020	•	SAINTS AND LEINSTER NICKEL PROJECTS - EXPLORATION UPDATE	6 May 2020
•	DRILLING COMMENCES AT THE VALDEZ NICKEL PROSPECT		7 September 2020	•	DRILLING TO COMMENCE AT SAINTS NICKEL PROJECT	24 April 2020
•	HIGH GRADE NICKEL SULPHIDES INTERSECTED AT SAINTS		27 August 2020	•	AC RESULTS PROVIDE DRILL-READY NICKEL TARGETS AT SAINTS	1 April 2020
•	AC RESULTS DEFINE NICKEL SULPHIDE DRILL TARGETS AT VALDEZ		13 August 2020	•	PLACEMENT $1M - HIGH-PRIORITY NICKEL SULPHIDE EXPLORATION	28 February 2020
•	NICKELIFEROUS MASSIVE SULPHIDES INTERSECTED AT SAINTS		6 August 2020	•	2020 EXPLORATION PROGRAMME COMMENCES AT SAINTS	8 January 2020
•	AUROCH INCREASES TENEMENT PACKAGE IN PROSPECTIVE NICKEL BELT		27 July 2020	•	HISTORICAL REVIEW HIGHLIGHTS NICKEL POTENTIAL AT LEINSTER	5 December 2019
•	DIAMOND DRILLING UNDERWAY AT SAINTS		20 July 2020	•	MORE HIGH-GRADE NICKEL INTERSECTED AT SAINTS	14 November 2019
•	NEW NICKEL SULPHIDE TARGETS DELINEATED AT SAINTS		8 July 2020	•	HIGH GRADE NICKEL CONFIRMED AT SAINTS	28 October 2019
•	EXPLORATION UPDATE - SAINTS AND LEINSTER NICKEL PROJECTS		23 June 2020	•	AMENDMENT - SAINTS NICKEL PROJECT DRILLING UPDATE	17 October 2019
•	DRILLING PROGRAMME UNDERWAY AT SAINTS NICKEL PROJECT		9 June 2020	•	DRILLING PROGRAMME UNDERWAY AT SAINTS NICKEL PROJECT	16 September 2019
•	$2M OVER-SUBSCRIBED PLACEMENT		4 June 2020	•	AUROCH TO KICK OFF DRILLING AT SAINTS NICKEL PROJECT	3 September 2019
•	RESULTS CONFIRM STRONG POTENTIAL OF CHANNEL TARGETS AT SAINTS		2 June 2020	•	SAINTS AND LEINSTER NICKEL ACQUISITION COMPLETED	29 August 2019
•	DHEM DELINEATES STRONG NICKEL SULPHIDE TARGET AT SAINTS		19 May 2020	•	AUROCH TO ACQUIRE HIGH-GRADE WA NICKEL PROJECTS	28 May 2019

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.

2 WWW.AUROCHMINERALS.COM

BUILDING A STRONG NICKEL SULPHIDE EXPLORER

==> picture [121 x 31] intentionally omitted <==

FOCUSED AGGRESSIVE EXPLORER

Money into the ground to ensure every chance of exploration success

EXPERIENCED AND DEDICATED TEAM

History of success in Ni sulphide exploration and development

CORPORATE OVERVIEW

MARKET CAP SHARES OUTSTANDING ~$15Million 231.2M @$0.067* CASH OPTIONS ~$5Million 72M (as at 2 October 2020)

BOARD AND MANAGEMENT

Aidan Platel Edward Mason

Non-Executive Chairman

Managing Director

SHAREHOLDERS

TOP 10 SHAREHOLDERS 37.7%

Mike Edwards

Robin Cox

Non-Executive Director Senior Exploration Geologist

SHARE PRICE

Saints Inferred Mineral Resources Estimate (1.0% Ni Cut-Off) (JORC 2012)

Type	Tonnage (kt)	Ni(%)	Cu (%)	Ni (t)	Cu (t)
Oxide 2 1.00% 0.02%
Transitional 22 1.70% 0.10% 400
Fresh 1,020 2.00% 0.20% 21,000 1,600
Total 1,050 2.00% 0.20% 21,400 1,600
Rounding errors may occur

*As at 2 October 2020

3 WWW.AUROCHMINERALS.COM

QUALITY AUSTRALIAN NICKEL SULPHIDE PROJECTS IN THE BEST LOCATION GLOBALLY

==> picture [121 x 31] intentionally omitted <==

SAINTS & LEINSTER NICKEL PROJECTS

• Located in the Norseman-Wiluna Greenstone Belt , home to some of the best nickel sulphide deposits globally

• Excellent access via Goldfields Highway , and close to established mining and processing infrastructure (Kambalda, Black Swan, Sinclair, Leinster, Mt Keith)

• Existing massive nickel sulphide resources that remain open along strike and downplunge

• Excellent exploration potential , both near existing resources and other untested target areas (e.g. Valdez)

4 WWW.AUROCHMINERALS.COM

SAINTS NICKEL PROJECT

HIGH-GRADE NICKEL SULPHIDE RESOURCE WITH MAIN FEEDER CHANNEL STILL TO BE DISCOVERED

• “ Grade is King ” Numerous drill-hole intercepts of thick high-grade semi-massive to massive nickel sulphides:

  • 30.95m @ 1.66% Ni from 143.05m,

  • including 10.50m @ 2.30% Ni (07BSGD0048)

  • 3.20m @ 5.17% Ni from 190.90m (DR_GG54)

  • 4.80m @ 2.81% Ni from 114.70m (07BSGD0055)

• High-grade nickel sulphide resource already defined:

• 1.05Mt @ 2.0% Ni & 0.2% Cu for 21.4kt Ni & 1.6kt Cu

  • 92% fresh primary sulphides from ~40m from surface

  • Mineralisation open down-plunge and along strike

• Main lava channel position(s) still to be discovered – huge potential to significantly increase current resource

Saints Inferred Mineral Resources Estimate (1.0% Ni Cut-Off) (JORC 2012)

Type	Tonnage (kt)	Ni(%)	Cu (%)	Ni (t)	Cu (t)
Oxide 2 1.00% 0.02%
Transitional 22 1.70% 0.10% 400
Fresh 1,020 2.00% 0.20% 21,000 1,600
Total 1,050 2.00% 0.20% 21,400 1,600

Rounding errors may occur

==> picture [121 x 31] intentionally omitted <==

==> picture [350 x 447] intentionally omitted <==

5 WWW.AUROCHMINERALS.COM

SAINTS NICKEL PROJECT

==> picture [121 x 31] intentionally omitted <==

UPDATED GEOLOGY INTERP: NEW OPPORTUNITIES

• Key “ingredients” for significant Kambalda-style* Ni sulphide deposit:  1. Magnetic “highs” sitting on basal contact  2. Ni sulphide occurrences in the immediate region  3. Mineralised basal flow (high tenor Ni sulphides)

• “Economic” Ni-S intersection on basal contact (≥10 %Ni.m @ 1%Ni cut-off)

==> picture [350 x 160] intentionally omitted <==

*Basal channel massive sulphides are thickest and highest-grade sulphides in Kambaldastyle system: main targets to significantly increase existing resource

• New geological interpretation (thrust faults vs synclinal model) means thicker basal ultramafic flows with high MgO

• Each factor increasing the possibility of a major mineralised channel position at Saints

• AC and RC drilling this year has confirmed at least 4 new channels being systematically tested for Ni sulphide mineralisation

==> picture [299 x 463] intentionally omitted <==

6 WWW.AUROCHMINERALS.COM

SAINTS NICKEL PROJECT

==> picture [121 x 31] intentionally omitted <==

SYSTEMATIC DRILL TESTING OF IDENTIFIED BASAL CHANNEL TARGETS

ST ANDREWS TARGET

ST ANDREWS

• 2 strong conductors identified from review of historic DHEM data

• Both conductors sit on the modelled basal contact underneath the known high-grade massive NiS hangingwall mineralisation

• Diamond drill programme completed in August tested historic conductors and highlighted new strong conductors via more-modern DHEM at depth

Standout results include;

• 3.68m @ 1.78% Ni in SNDD013

• Incl 1.25m @ 3.71% Ni from 241.61m

T1-T6

• Multiple AC drilling phases defining footwall contact and UM characteristics

• Followed by RC drilling & DHEM to allow for more targeted drilling

• This approach advanced the T1-T2 channel prospects both producing strong conductors for multiple phases of RC drilling

• Further AC drilling planned at T5-T6

==> picture [311 x 235] intentionally omitted <==

7 WWW.AUROCHMINERALS.COM

LEINSTER NICKEL PROJECT

==> picture [121 x 31] intentionally omitted <==

THE HORN

• Historic JORC (2004) Resource*: nickel sulphide mineralisation remains open at depth and along strike

• Numerous drill-hole intercepts of thick high-grade semimassive to massive nickel sulphides; e.g:

• 14.66m @ 2.19% Ni & 0.48% Cu from 132.6m

• 10.80m @ 2.21% Ni & 0.53% Cu from 144.0m

• 7.00m @ 2.58% Ni & 0.63% Cu from 158.6m

• Planned 2000m Resource drilling DD & RC to commence this month, upgrading resource to JORC (2012)

==> picture [332 x 139] intentionally omitted <==

08BWDD0039

==> picture [167 x 225] intentionally omitted <==

==> picture [542 x 227] intentionally omitted <==

Aeromagnetics: RTP E shade non-linear

*Refer to ASX Announcement 28 May 2019

8 WWW.AUROCHMINERALS.COM

LEINSTER NICKEL PROJECT

==> picture [121 x 31] intentionally omitted <==

VALDEZ PROSPECT

• The Valdez Prospect is located northeast of the Horn and along strike from the Waterloo nickel sulphide deposit owned by Saracen (ASX:SAR): 14.4kt nickel @ 2.1% Ni.

Aeromagnetics: RTP E shade non-linear

• Surface EM survey identified strong EM conductors coincident with magnetic highs and modelled basal contact

• 4,400m AC drilling programme completed to confirm basal contact and possible channel – elevated Ni grades in weathered zone coincident with EM and mag highs: all the right characteristics for massive nickel sulphides

• 1,500m RC programme recently completed, testing modelled channel embayment

• Thick fertile ultramafic intercepted in all 4 RC holes!

• DHEM Currently in progress, samples in lab awaiting Assay results!

==> picture [292 x 202] intentionally omitted <==

9 WWW.AUROCHMINERALS.COM

*Refer to ASX Announcement 13 August 2019

LEINSTER NICKEL PROJECT

==> picture [121 x 31] intentionally omitted <==

NEW TENEMENT PACKAGE

• Four ELs comprising 217 km[2] highly-prospective for both gold and nickel-copper sulphide mineralisation

• Earn-in Agreement with Jindalee Resources for up to 70% ownership of all mineral rights

FIRE FLY & SINCLAIR NORTH Ni PROSPECTS

• Located on E 36/895 which is contiguous with the Horn tenement and along strike from Sinclair to the south and Ni West to the north

• Firefly; Anomalous Ni identified in historic RAB drilling defined a over 1.3km prospective strike of ultramafics, including:

• 23m @ 0.53% Ni from 13m, inc. 1m @ 0.86% Ni

• 5m @ 0.74% Ni from 44m

• 4m @ 0.53% Ni from 16m

• Never been adequately tested at depth by RC or diamond drilling = drill-ready targets

• Sinclair North; located north along magnetic strike of Sinclair Ni mine

• 750m RC programme recently completed on both prospects

• Drilling confirming location of UM-Mafic contact

• DHEM currently in progress, samples in the laboratory awaiting Assay results

• Further drilling planned and permitted!

• 10 WWW.AUROCHMINERALS.COM

==> picture [328 x 466] intentionally omitted <==

----- Start of picture text -----

Aeromagnetics: RTP E shade non-linear
----- End of picture text -----

SAINTS & LEINSTER PROJECTS

==> picture [121 x 31] intentionally omitted <==

AGGRESSIVE EXPLORATION PROGRAMMES: 2020 Q3 & Q4

COMPLETED 2020

• ✓ 4,400m AC drill programme at the Valdez Prospect of the Leinster Project - July

• ✓ 1,300m AC drill programme at the T4 Target at Saints completed - August

• ✓ 1,200m diamond drill programme at the T2 Target and Saint Andrews Target at Saints to test strong DHEM conductors near the basal contact completed

RESULTS PENDING

• ✓ 1,500m RC drill programme at Valdez

• ✓ 750m RC drill programme at Fire Fly & Sinclair North

• ✓ DHEM

PLANNED EXPLORATION

• RC drill programme at the T1 Target at Saints – commencing this week

• RC & DD Resource drilling at the Horn deposit to upgrade the historic resource estimate to be JORC (2012) -compliant – commencing October

SCHEDULED Q4

• AC T5 & T6 at Saints

• AC Firefly & Sinclair North

• RC & DD infill drilling at the Saints deposit

==> picture [328 x 466] intentionally omitted <==

----- Start of picture text -----

Saints Nickel Project –diamond drilling at the T2 target
----- End of picture text -----

11 WWW.AUROCHMINERALS.COM

SOUTH AUSTRALIA Cu & BASE METAL PORTFOLIO

==> picture [291 x 474] intentionally omitted <==

==> picture [351 x 474] intentionally omitted <==

WHY INVEST NOW?

AUROCH ALREADY HAS THE BENEFIT OF A HIGH-GRADE RESOURCE AT SAINTS , and is working to increase this to add material value for shareholders.

DRILLING THE HIGH-GRADE HORN DEPOSIT in Q4 2020 upgrading to JORC 2012 and adding valuable tonnes to the portfolio.

==> picture [138 x 36] intentionally omitted <==

ONGOING DRILL PROGRAMMES AT THE SAINTS & LEINSTER PROJECTS , Pipeline of exploration programmes producing constant news flow and results.

STRONG CASH POSITION FOR EXPLORATION AND EXPANSION OF THE Ni Cu PORTFOLIO offering material longer term upside.

EXPERIENCED BOARD AND MANAGEMENT TEAM with significant nickel expertise and a track record of success.

13

CONTACT

Mr Aidan Platel Managing Director E: aplatel@aurochminerals.com M: +61 400 190 005

Suite 1 295 Rokeby Road Subiaco WA 6008 T: +61 8 6555 2950 F: +61 8 6166 0261

==> picture [420 x 271] intentionally omitted <==

==> picture [420 x 272] intentionally omitted <==