ORE RESOURCES LIMITED — Investor Presentation 2021

Sep 8, 2021

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CHASING NEPEAN DEEPS High-Grade Nickel Sulphides in Western Australia

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Corporate Presentation

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ASX:AOU | September 2021

Disclaimer

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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 thispresentation.

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 highlyspeculative.

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:

•	NEPEAN AND SAINTS SCOPING STUDIES UNDERWAY	01 September 2021	•	HIGH GRADE NICKEL SULPHIDES INTERSECTED AT SAINTS	27 August 2020
•	OPTIONS UNDERWRITING TO FUND EXPANDED NEPEAN DEEPS DRILLING	19 August 2021	•	AC RESULTS DEFINE NICKEL SULPHIDE DRILL TARGETS AT VALDEZ	13 August 2020
•	RESULTS DEFINE NEW HIGH-PRIORITY DRILL TARGETS AT LEINSTER	11 August 2021	•	NICKELIFEROUS MASSIVE SULPHIDES INTERSECTED AT SAINTS	6 August 2020
•	NEPEAN NICKEL PROJECT DRILLING UPDATE	29 July 2021	•	AUROCH INCREASES TENEMENT PACKAGE IN PROSPECTIVE NICKEL BELT	27 July 2020
•	MLEM SURVEY IDENTIFIES PRIORITY DRILL TARGET AT NEPEAN	07 July 2021	•	DIAMOND DRILLING UNDERWAY AT SAINTS	20 July 2020
•	MAIDEN NEPEAN DEEPS DRILLING PROGRAMME	23 June 2021	•	NEW NICKEL SULPHIDE TARGETS DELINEATED AT SAINTS	8 July 2020
•	NICKEL SULPHIDES INTERSECTED AT NEW LEINSTER PROSPECTS	10 June 2021	•	EXPLORATION UPDATE - SAINTS AND LEINSTER NICKEL PROJECTS	23 June 2020
•	EXPLORATION UPDATE NEPEAN NICKEL PROJECT	25 May 2021	•	DRILLING PROGRAMME UNDERWAY AT SAINTS NICKEL PROJECT	9 June 2020
•	NICKEL SULPHIDES INTERSECTED ALONG STRIKE AT NEPEAN	28 April 2021	•	$2M OVER-SUBSCRIBED PLACEMENT	4 June 2020
•	NEW HIGH-GRADE NICKEL SULPHIDE DRILL INTERCEPTS AT NEPEAN	31 March 2021	•	RESULTS CONFIRM STRONG POTENTIAL OF CHANNEL TARGETS AT SAINTS	2 June 2020
•	DIAMOND DRILLING COMMENCES AT LEINSTER NICKEL PROJECT	25 March 2021	•	DHEM DELINEATES STRONG NICKEL SULPHIDE TARGET AT SAINTS	19 May 2020
•	NEPEAN DRILLING UPDATE	10 March 2021	•	SAINTS AND LEINSTER NICKEL PROJECTS - EXPLORATION UPDATE	6 May 2020
•	INTERSECTIONS OF OVER 5% Ni EXTEND MINERALISATION AT NEPEAN	15 February 2021	•	DRILLING TO COMMENCE AT SAINTS NICKEL PROJECT	24 April 2020
•	DRILLING TO COMMENCE AT HIGH-GRADE NEPEAN NICKEL PROJECT	06 January 2021	•	AC RESULTS PROVIDE DRILL-READY NICKEL TARGETS AT SAINTS	1 April 2020
•	NEPEAN NICKEL PROJECT ACQUISITION COMPLETED	17 December 2020	•	PLACEMENT $1M - HIGH-PRIORITY NICKEL SULPHIDE EXPLORATION	28 February 2020
•	FURTHER HIGH-GRADE MASSIVE NICKEL SULPHIDES AT THE HORN	14 December 2020	•	2020 EXPLORATION PROGRAMME COMMENCES AT SAINTS	8 January 2020
•	HIGH-GRADE MASSIVE NICKEL SULPHIDES CONFIRMED AT THE HORN	01 December 2020	•	HISTORICAL REVIEW HIGHLIGHTS NICKEL POTENTIAL AT LEINSTER	5 December 2019
•	FURTHER MASSIVE NICKEL SULPHIDES INTERSECTED AT THE HORN	18 November 2020	•	MORE HIGH-GRADE NICKEL INTERSECTED AT SAINTS	14 November 2019
•	DIAMOND DRILLING INTERSECTS MASSIVE Ni SULPHIDES AT THE HORN	11 November 2020	•	HIGH GRADE NICKEL CONFIRMED AT SAINTS	28 October 2019
•	AUROCH TO ACQUIRE HIGH-GRADE NEPEAN NICKEL PROJECT	11 November 2020	•	AMENDMENT - SAINTS NICKEL PROJECT DRILLING UPDATE	17 October 2019
•	PRIORITY DIAMOND DRILLING TO COMMENCE AT LEINSTER Ni PROJECT	27 October 2020	•	DRILLING PROGRAMME UNDERWAY AT SAINTS NICKEL PROJECT	16 September 2019
•	SURFACE COPPER SAMPLING PROGRAMME COMMENCES AT ARDEN PROJECT	16 October 2020	•	AUROCH TO KICK OFF DRILLING AT SAINTS NICKEL PROJECT	3 September 2019
•	DHEM IDENTIFIES DRILL TARGET AT THE VALDEZ NICKEL PROSPECT	13 October 2020	•	SAINTS AND LEINSTER NICKEL ACQUISITION COMPLETED	29 August 2019
•	DRILLING COMMENCES AT FIREFLY & SINCLAIR NORTH Ni PROSPECTS	22 September 2020	•	AUROCH TO ACQUIRE HIGH-GRADE WA NICKEL PROJECTS	28 May 2019
•	DRILLING COMMENCES AT THE VALDEZ NICKEL PROSPECT	7 September 2020

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.

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr Matthew McCarthy and represents an accurate representation of the available data. Mr McCarthy (Member of the Australian Institute of Mining and Metallurgy) is the Company’s Senior 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 McCarthy consents to the disclosure of this information in this report in the form and context in which it appears.

WWW.AUROCHMINERALS.COM

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Auroch (ASX:AOU) holds some of the most prospective nickel sulphide tenure in the Norseman-Wiliuna Greenstone Belt

Strategically positioned in a tier one jurisdiction, near infrastructure and surrounded by world-class mining projects and processing operations

JORC(2012) resource inventory of over 21,000t of contained nickel at 2%Ni. Scoping studies and revised resource estimates due 2022

Significant exploration potential in the short-term with deep highimpact drill programme underway at Nepean Deeps

Strong cash position of A$2.6 million plus underwritten option proceeds of A$1.6 million

WWW.AUROCHMINERALS.COM

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Corporate Summary

ASX SHARE PRICE	A$0.17
SHARES ON ISSUE	295 Million
MARKET CAP	A$50.1 Million
AVERAGE VOLUME	1.6 Million
CASH	A$2.6 Million
UNDERWRITTEN OPTION CASH PROCEEDS 10c OPTIONS (EXP 11/2021)	A$1.6 Million
DEBT	Zero
TOP 20 SHAREHOLDERS	29%

*As at 1st September 2021

BROKER COVERAGE PAC Partners 32c price target

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12MONTH SHAREPRICE

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EXPERIENCED BOARD AND MANAGEMENT TEAM TO EXECUTE AUROCH’S CORPORATE STRATEGY

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Strategically Located Nickel Sulphide Portfolio

In a Globally Significant Location…

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Portfolio Snapshot

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NEPEAN SAINTS LEINSTER SOUTH AUSTRALIA	NEPEAN SAINTS LEINSTER SOUTH AUSTRALIA	NEPEAN SAINTS LEINSTER SOUTH AUSTRALIA	NEPEAN SAINTS LEINSTER SOUTH AUSTRALIA	NEPEAN SAINTS LEINSTER SOUTH AUSTRALIA	NEPEAN SAINTS LEINSTER SOUTH AUSTRALIA	NEPEAN SAINTS LEINSTER SOUTH AUSTRALIA	NEPEAN SAINTS LEINSTER SOUTH AUSTRALIA	NEPEAN SAINTS LEINSTER SOUTH AUSTRALIA
COMMODITY NICKEL NICKEL NICKEL COPPER & ZINC
LOCATION Coolgardie, WA Leinster, WA North Kalgoorlie, WA Lake Torrens, SA
OWNERSHIP 80% (JV with Lodestar Resources) 100%; 70% (JV with Jindalee Resources) 100% 100%; 90% (JV with Resource Holdings)
SIZE 31km 2 331km 2 20km 2 3,654km 2
GEOLOGY AND MINERALISATION Kambalda-style komatiitic nickel sulphides Kambalda-style komatiitic nickel sulphides Kambalda-style komatiitic nickel sulphides IOCG and SEDEX base- metals (Cu, Zn, Pb)
CONTAINED Ni IN-RESOURCE Historic resources only Historic resources only 21,400t @ 2.0% Ni –
SIGNIFICANT DRILL INTERCEPTS 3m @ 11.78% Ni from 37m 3m @ 9.93% Ni from 49m 7.0m @ 2.58% Ni from 158.6m 7.3m @ 2.20% Ni from 143.0m 3.2m @ 5.17% Ni from 190.9m 4.8m @ 2.81% Ni from 114.7m 12.8m @ 4.96% Zn from 53.0m Incl. 3.65m @ 15.47% Zn from 62.15m
POTENTIAL PROCESSING BHP KNO BHP NWO BHP KNO Port Pirie
EXPLORATION TARGETS Northern & southern mag anomalies along 10km strike Northwest untested mag anomalies; greenfields targets High-potential drill targets for “feeder channel” Mt Arden surface Cu trends; Ragless Range Zn target

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Nepean Nickel Project

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HIGH-GRADE NICKEL SULPHIDE MINE WITH HISTORIC RESOURCES AND HUGE EXPLORATION POTENTIAL

The Nepean nickel mine produced > 32kt Ni at av. recovered grade of ~ 3% Ni

Huge potential to build a significant high-grade Ni sulphide inventory via 3 focus areas:

• Nepean Deeps: potential down-plunge continuation of the Ni sulphides below the historic mine workings

• Historic Mine Area: remnant high-grade Ni-S mineralisation from < 50m from surface [*]

• Regional Exploration: ~10km of underexplored strike of fertile Nepean ultramafics

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• Refer to ASX Announcement – AUROCH TO ACQUIRE HIGH-GRADE NEPEAN NICKEL PROJECT https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02307223-6A1006606?access_token=83ff96335c2d45a094df02a206a39ff4

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Nepean Nickel Project

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NEPEAN DEEPS TARGET… ANOTHER FLYING FOX?

• The historic Nepean Ni sulphide mine is constrained at depth by a pegmatite vein: analogous to Western Area’s (ASX:WSA) Flying Fox nickel mine and the subsequent discovery of Spotted Quoll along strike

• Nepean is <500m deep and produced over 32kt Ni; Flying Fox is >1,200m and has produced over 100kt Ni so far!*

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• Refer to ASX Announcement – AUROCH TO ACQUIRE HIGH-GRADE NEPEAN NICKEL PROJECT

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02307223-6A1006606?access_token=83ff96335c2d45a094df02a206a39ff4

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Nepean Nickel Project

NEPEAN DEEPS TARGET – MAJOR HIGH-IMPACT DIAMOND DRILL PROGRAMME UNDERWAY

ACTIVITY

• 3,000m diamond drill programme underway:

• First hole NPDD008 currently at ~650m depth

• Slow controlled drilling to ensure holes reach targets

First 2 holes primarily platforms for geophysical testing: DHEM, DHMMR and/or DHIP, and will also test footwall contact ~400m below old mine workings

A further 4 holes to be drilled to test high-priority targets for Ni-S mineralisation

Each drill-hole taking approx. 3 – 4 weeks, depending on ground conditions

Huge potential for extensions to known high-grade Ni-S mineralisation below the mapped pegmatite intrusions

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• Refer to ASX Announcement – AUROCH TO ACQUIRE HIGH-GRADE NEPEAN NICKEL PROJECT

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02307223 6A1006606?access_token=83ff96335c2d45a094df02a206a39ff4

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Nepean Nickel Project

HIGH-GRADE NICKEL SULPHIDE MINE WITH HISTORIC RESOURCES & NEAR-MINE EXPLORATION POTENTIAL

ACTIVITY

15 RC drill-holes (1,073m) and 1 diamond drill-hole (78m) completed:

• Results extend strike of shallow high-grade Ni sulphides:

• 8m @ 4.30% Ni & 0.37% Cu from 35m,

  • incl 2m @ 6.86% Ni & 0.62% Cu from 37m

• 8m @ 3.21% Ni & 0.13% Cu from 63m,

  • incl 2m @ 7.51% Ni & 0.39% Cu from 68m

• 2 lenses of HG massive Ni sulphides each up to 6m thick <100m deep now defined for >500m strike

Scoping study with P1 Australasia underway to assess potential open-pit scenario to deliver near-term production

Short diamond drill programme planned for metallurgical testwork

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• Refer to ASX Announcement – AUROCH TO ACQUIRE HIGH-GRADE NEPEAN NICKEL PROJECT

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02307223-6A1006606?access_token=83ff96335c2d45a094df02a206a39ff4

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Nepean Nickel Project

GREENFIELDS POTENTIAL FOR NEW DISCOVERIES >10km UNDEREXPLORED STRIKE

A further 36 RC drill-holes (5,862m) and 2 diamond drillholes (651m) of exploration drilling completed over aeromagnetic targets along the >10km of prospective strike to the north and south:

• Confirmed fertile ultramafic units coincident with mag targets – high MgO, dissem Ni sulphides, good Ni, Cu, Cr, Zn ratios

• Never been previously explored with modern techniques

High-powered ground MLEM and DHEM surveys over priority – areas of 10km strike completed new high priority drill targets

Pending assay and DHEM results (15 holes) to be modelled to define targets for next phase of regional RC drilling

Excellent Au and Li potential in addition to the Ni-Cu-PGE prospectivity

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Leinster Nickel Project

KNOWN HIGH-GRADE NICKEL SULPHIDE MINERALISATION WITH GREAT EXPLORATION POTENTIAL

The Horn : Thick high-grade massive Ni-Cu sulphides at shallow depths for over 500m of strike:

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

• 7.30m @ 2.20% Ni & 0.53% Cu from 143.0m

Huge exploration potential along strike with several repeating aeromagnetic anomalies that were never previously explored

3,125m DD (5 holes) & RC (8 holes) drill programme completed along trend:

• Confirmed fertile ultramafic units coincident with mag targets at the Woodwind and Percussion Prospects: disseminated “cloud” to stringer Ni-S within cumulate UM phases – typical of geology proximal to massive Ni-S at Perseverance, Waterloo and Rocky’s Reward

• Assays and DHEM modelled: targets for follow-up 2,000m RC drill programme

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Massive Ni-Cu sulphides from the Horn
Aeromagnetics: 1 [st] vert
derivative RTP E shade linear
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Saints Nickel Project

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

High-grade JORC (2012) -compliant resource provides clear pathway to development and mining as Ni price increases:

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

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

ACTIVITY

Continued systematic exploration for possible feeder channel(s) massive Ni-S at high-priority targets and at depth

Scoping study with P1 Australasia underway to assess potential underground mine scenario to deliver near-term production

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Arden Zinc-Copper Project

HIGH-GRADE ZINC & COPPER MINERALISATION WITH HIGH-PRIORITY DRILL TARGET

• Ragless Range Zn Target: drilling identified high-grade mineralisation:

• 12.80m @ 5.0% Zn from 53m,

incl 3.65m @ 15.5% Zn from 62.15m (RRDD007)

• Strong gravity anomaly coincident with surface Zn anomalies, outcropping gossan and high-grade intersection = high-priority drill target

• 1,000m diamond drill programme to be drilled in October

• Ongoing systematic surface sampling programmes to investigate high-grade Cu trends

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1. NEPEAN DEEPS MAIDEN DRILL PROGRAMME – this high-impact drilling exploring for possible extensions to the high-grade Ni-S mineralisation below historic mine workings is the main focus of the rest of 2021

2. RC DRILL PROGRAMME AT NEPEAN, TARGETING REGIONAL AEROMAGNETIC ANOMALIES – DHEM and assay results pending. High-powered ground MLEM survey completed – results and modelling have generated new high-priority exploration targets along strike to the north and south of the mine

3. DIAMOND AND RC DRILLING AT LEINSTER COMPLETED along the untested NW trend from the Horn, targeting series of aeromagnetic anomalies. RC drilling campaign to further target the NW trend at String & Brass Prospects, as well as Sinclair North & Firefly

4. DIAMOND DRILL PROGRAMME OF THE RAGLESS RANGE Zn Target at the Arden Project, SA

5. INTERNAL SCOPING STUDIES UNDERWAY into development and production scenarios at Nepean and Saints, and continuing discussions with BHP and other potential partners regarding metallurgical testing, toll treating and offtake

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September October November December
3,000m 500m
RC & DD Drilling NEPEAN DEEPS exploration prog. Metallurgical prog.
DHEM / DHEM / DHEM /
Geophysics MMR MMR Ground IP MMR
Scoping Study Internal assessment of potential Open-cut & UG mining scenarios
2,000m
RC & DD Drilling
exploration prog.
Geophysics DHEM
Scoping Study Internal assessment of potential UG mining scenarios
2,000m
RC & DD Drilling
exploration prog.
Geophysics DHEM
1,000m
RC & DD Drilling
Ragless Range prog.
Geophysics DHIP
Plan regional
AC/Geochemistry
prog.
NEPEAN
SAINTS
LEINSTER
SA PROJECTS
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Why Nickel, Why Auroch?

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AUROCH LEVERAGED TO CLASS 1 NICKEL DEMAND

Nickel price is >US$19,500/t and climbing

• Global stainless steel demand projected to increase by 5% YOY in 2021[2]

• Within the broader nickel market, the scarcity of nickel sulphide deposits is contributing to an even greater looming shortage of Class 1 nickel which can be used in batteries

• Electric vehicle disruption: increased uptake on EVs and improving battery technology requiring more and more Ni

Goldman Sachs has a 12 month price target for nickel of US$24,000/t[2]

Refined Nickel Supply Capacity & Demand (By Class of Nickel, Kt Estimate, McKinsey, Sept 2020 )

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With current trends,
Class 1 nickel is expected
to be undersupplied
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2 Goldman Sachs: Metals Watch: A fundamentally mispriced market, 30 August 2021

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Nickel is Critical For The World’s Clean Energy Technologies

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PEDAL TO THE METAL

METALS AND MINERALS DEMAND FROM LITHIUM-ION BATTERIES

Nickel Demand 2021 vs 2030 5.2x

In 2012 less than 50,000 EV’s sold, this year global sales are expected to exceed 2 million, by 2030 20-25 million EV’s sold per year

• Solid state battery NMC 811

• 80% Ni 10% Mn 10% Co

• On average Tesla models use 45kg of nickel

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FUTURE NICKEL DEMAND BREAKDOWN

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Our Sustainability Plan

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ENVIRONMENT, SUSTAINABILITY AND GOVERNANCE CENTRAL TO AUROCH’S CORE STRATEGY

OUR SUSTAINABILITY PILLARS

• Published maiden Sustainability Plan in July which highlights the Company’s vision and priorities to support a sustainable business

• Our plan and pillared strategy are aligned to the United Nations (UN) Sustainable Development Goals ( SDG ) and has been set by the Company’s Sustainability Committee , chaired by Director Mike Edwards

• Focussed on creating value for ALL stakeholders

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ASX:AOU | CORPORATE PRESENTATION | SEPTEMBER 2021

CONTACT

Mr Aidan Platel

Managing Director E: aplatel@aurochminerals.com

M: +61 400 190 005

Suite 10 38 Colin Street West Perth WA 6005

T: + 61 8 6 383 7817

F: +61 8 6245 9853

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APPENDIX:

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Schematic cross section of Kambalda-style nickel sulphide deposit

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

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