Auroch Minerals : SAINTS DIAMOND DRILLING UNDERWAY

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ASX ANNOUNCEMENT

25th January 2022

SAINTS DIAMOND DRILLING UNDERWAY

Highlights

• Major diamond drill programme has commenced at the Saints Nickel Project to update and potentially increase the current high-grade Mineral Resources of 1.02Mt @ 2.0% Ni for 21,400kt of contained nickel1
• 3,000m of infill drilling to be completed across the Saint Patricks and Saint Andrews prospects, with an additional 2,000m planned to test for down-plunge extensions to the known high- grade nickel sulphide mineralisation
• Bulk composite samples will be taken from some of the drill core to be used for metallurgical testwork
• The drill programme will take approximately 6 weeks to complete and the results will be used in the Saints Scoping Study due for completion at the end of March

Auroch Minerals Limited (ASX:AOU) (Auroch or the Company) is pleased to announce it has commenced a major diamond drill programme at its 100%-owned Saints Nickel Project (Saints) in Western Australia.

The programme comprises approximately 3,000m of infill drilling across the Saint Patricks and Saint Andrews prospects (Figure 1), with the aim to update the current JORC(2012)-compliantSaints Mineral Resource Estimate (MRE) of 1.02Mt @ 2.0% Ni for 21,400kt of contained nickel1 and increase the confidence level from the Inferred Resource category to predominantly Indicated Resources. Also included in this programme are two drill-holes specifically designed to collect large bulk composite samples for metallurgical testwork.

A further 2,000m of drilling has been planned to test for possible strike and down-plunge extensions to the known high-grade nickel sulphide mineralisation at Saints, particularly below the Saint Andrews Prospect to test for extensions of the mineralised lava channel, where previous drill hole geochemistry indicates hotter ultramafic rocks (i.e. >42% MgO) at depth. A review of historic down-hole electromagnetic (DHEM) data in this zone is also being completed.

Auroch Managing Director Aidan Platel commented:

"We are very pleased to have kicked off a major diamond drill programme at Saints. The infill drilling is critical to increasing the confidence in the MRE to a predominantly Indicated Resource category so that it can underpin the current Saints Scoping Study due to be completed at the end of March. It will also provide necessary bulk samples to initiate the metallurgical testwork that is also critical information for the completion of the study.

The planned concurrent exploration drilling will test down-plunge from the known high-grade nickel sulphide mineralisation at the Saint Patricks and Saint Andrews prospects as the search continues for the "feeder" lava channel to this nickel-rich system and of course, the nickel sulphide mineralisation that is associated with such channels in Kambalda-style nickel deposits such as the Saints!"

Both the new MRE and the metallurgical testwork results will provide important inputs for the ongoing Scoping Study at the Saints Nickel Project. To date the Scoping Study is progressing well with site flora

1 JORC (2012) Inferred Resources, above a 1.0% Ni cut-off grade. Refer to ASX Announcement - AUROCH TO ACQUIRE HIGH-GRADE WESTERN AUSTRALIAN NICKEL PROJECTS https://www.asx.com.au/asxpdf/20190528/pdf/445dz31g15d0kx.pdf.

Auroch Minerals Ltd ABN 91 148 966 545

Suite 10, 38 Colin St, West Perth WA 6005 Phone: [phone] Fax: [phone]

Email: [e-mail] www.aurochminerals.com

For personal use only

ASX ANNOUNCEMENT

25th January 2022

and fauna surveys completed, miscellaneous licence applications for the future haul road location submitted, and mine design and optimisation well underway.

Figure 1 - Long section of the Saints Nickel Project showing the current nickel sulphide resource (1%Ni cut-off)

and the planned pierce points from the major diamond drill programme now underway

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

-END-

For further information visit www.aurochminerals.comor contact:

Aidan Platel

Managing Director

E: [e-mail]

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.

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 programmes 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.

Auroch Minerals Ltd ABN 91 148 966 545	FOLLOW US
Suite 10, 38 Colin St, West Perth WA 6005 Phone: [phone] Fax: [phone]
Email: [e-mail] www.aurochminerals.com

ASX ANNOUNCEMENT

25th January 2022

For personal use only

Figure 2 - Location and geology map of the Saints Nickel Project

Auroch Minerals Ltd ABN 91 148 966 545	FOLLOW US
Suite 10, 38 Colin St, West Perth WA 6005 Phone: [phone] Fax: [phone]
Email: [e-mail] www.aurochminerals.com

For personal use only

				ASX ANNOUNCEMENT
					25th January 2022
JORC Code, 2012 Edition, Table 1
Section 1: Sampling Techniques and Data
CRITERIA		EXPLANATION		COMMENTARY
Sampling		● Nature and quality of sampling (eg cut		Drilling
	channels, random chips, or specific		Auroch Minerals Limited:
techniques
	specialised industry standard		● Nickel mineralisation at Saints has been
		measurement tools appropriate to the		sampled from the following drilling
		minerals under investigation, such as down		techniques:
		hole gamma sondes, or handheld XRF		● Diamond Core - half core samples with a
		instruments, etc). These examples should		maximum of 1.2m and minimum 0.2m
		not be taken as limiting the broad meaning		length.
		of sampling.		● RC drilling - 1m samples of pulverised
		● Include reference to measures taken to		chips, approximately 3kg's is collected in
		ensure sample representivity and the		individual calico bags
		appropriate calibration of any		● Air Core drilling creates single metre
		measurement tools or systems used.		sample of drill chips, however samples are
		● Aspects of the determination of		composited every 3 metres, with the end
		mineralisation that are Material to the		of hole sample consisting of a 1m sample.
		Public Report. In cases where 'industry
		standard' work has been done this would
		be relatively simple (eg 'reverse circulation		DHEM Parameters:
		drilling was used to obtain 1m samples		Contractor:	SGC Niche Acquisition
		from which 3kg was pulverised to produce		Configuration:	Down-hole EM (DHEM)
		a 30g charge for fire assay'). In other cases		Tx Loop size:	300x300m to 350x450m,
		more explanation may be required, such as		single turn
		where there is coarse gold that has		Transmitter:	TTX2
		inherent sampling problems. Unusual		Receiver:	Smartem24
		commodities or mineralisation types (eg		Sensor:	DigiAtlantis
		submarine nodules) may warrant		Station spacing:	2m to 10 m
		disclosure of detailed information.		Tx Freq:	0.5 Hz
				Duty cycle:	50%
				Current:	~68-75 Amp
				Stacks:	64
				Readings:	2-3 repeatable readings
				per station
Drilling techniques		● Drill type (eg core, reverse circulation,		• Diamond Core (DD) drilling is referenced in
	open-hole hammer, rotary air blast, auger,		this report. Core is oriented and retrieved
		Bangka, sonic, etc) and details (eg core		via double or triple tube methods.
		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).
Drill sample		● Method of recording and assessing core		• DD core recovery is measured and
	and chip sample recoveries and results		recorded by Auroch staff and contractors.
recovery
	assessed.		• No relationship between sample recovery
		● Measures taken to maximise sample		and grade has been yet observed and no
		recovery and ensure representative nature		sample bias is believed to have occurred.
		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.
Auroch Minerals Ltd ABN 91 148 966 545			FOLLOW US

Suite 10, 38 Colin St, West Perth WA 6005 Phone: [phone] Fax: [phone]

Email: [e-mail] www.aurochminerals.com

For personal use only

					ASX ANNOUNCEMENT
					25th January 2022
CRITERIA		EXPLANATION		COMMENTARY
Logging		● Whether core and chip samples have been		Auroch Minerals Limited:
	geologically and geotechnically logged to a		•	Drill core is lithologically and structurally
		level of detail to support appropriate			logged by Geologists in the field.
		Mineral Resource estimation, mining		•	Drill chips are lithologically logged by
		studies and metallurgical studies.			Geologists in the field
		● Whether logging is qualitative or		•	Logging is qualitative, recording rock type
		quantitative in nature. Core (or costean,			and mineral abundance
		channel, etc) photography.		•	Logging of RC & AC chips is conducted on
		● The total length and percentage of the			a 1 metre sample size.
		relevant intersections logged.		•	Logging of DD core is conducted on
					lithological boundaries.
				Historic:
				● Geological logging data collected to date is
					sufficiently detailed. At this stage detailed
					geotechnical logging is not required.
				● Geological logging is intrinsically
					qualitative.
				● Historic drill holes were geologically logged
					by previous operators and these data are
					available to Auroch Minerals.
Sub-sampling		● If core, whether cut or sawn and whether		Auroch Minerals Limited:
	quarter, half or all core taken.		● Diamond core is sawn in half with half used
techniques and
	● If non-core, whether riffled, tube sampled,			for sampling and the other half retained
sample
	rotary split, etc and whether sampled wet			for future reference.
preparation
	or dry.		● 1m RC percussion, sample is split via a
		● For all sample types, the nature, quality			cyclone and cone splitter attached to the
		and appropriateness of the sample			drill rig to produce a bagged 3kg sample.
		preparation technique.		● Certified reference material and blank
		● Quality control procedures adopted for all			material are inserted every 20 samples as
		sub-sampling stages to maximise			per company QAQC procedure for both DD
		representivity of samples.			& RC.
		● Measures taken to ensure that the		● Field duplicates collected from the Cyclone
		sampling is representative of the in situ			and cone splitter are inserted every 60
		material collected, including for instance			samples
		results for field duplicate/second-half		● No further sub sampling has been
		sampling.			conducted
		● Whether sample sizes are appropriate to		● 3m AC sample composites are scooped
		the grain size of the material being			from sample piles to create a 3kg bagged
		sampled.			sample.
				● Certified reference material are inserted
					every 30 samples as per the company Air
					Core QAQC procedure.

Historic:

● 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 previous operators not fully documented.

Auroch Minerals Ltd ABN 91 148 966 545	FOLLOW US
Suite 10, 38 Colin St, West Perth WA 6005 Phone: [phone] Fax: [phone]
Email: [e-mail] www.aurochminerals.com