Auris Minerals : More High Grade Gold Mineralisation Intersected-Feather Cap

For personal use only

17 December 2021

MORE HIGH-GRADE GOLD MINERALISATION INTERSECTED AT

FEATHER CAP GOLD PROJECT, WA

Highlights:

• Significant gold intercept of 5m @ 14.3g/t Au from 40m(DEAC0095) returned from Air Core drilling at Durack East Prospect at the Feather Cap Gold Project in WA
• Encouraging intersection further supports the interpretation of a 3.0km extension of the Morck Well gold mineralised trend into Auris' 100% owned Feather Cap Gold Project
• Hole DEAC0095 is located 400m to the east and 300m to the north respectively, of previously reported high-grade intercepts of 10m @1.22g/t Au from 80m (DEAC0075)# and 8m @ 5.44g/t Au from 87m, including 1m @ 26.7g/t Au from 87m (DEAC0089)*
• Significant intercept returned from sampling over the regolith boundary between transported cover and weathered residual upper saprolite - potentially associated with dispersion along the boundary or paleochannel gold mineralisation at the base of the transported cover.
• Results for a total of 58 Air Core drill holes received since previous update - no other significant results received. Results from a further five Air Core drill holes pending - results expected Q1 2022
• RC drilling at the Durack East Prospect to further evaluate the high-grade gold intercepts proposed for Q1 2022.
• Feather Cap Project is prospective for both orogenic gold and Horseshoe Lights style Cu- Au VHMS mineralisation - located 2km along strike to the east of Westgold Resources Limited's 112k oz Durack Gold Resource (Refer WGX announcement dated 4 September 2017)

Gold and Base Metals explorer Auris Minerals Limited ("Auris" or "the Company") (ASX: AUR) is pleased to announce further significant gold mineralisation has been intersected in recently completed Air Core drilling at the Company's 100% owned Feather Cap Gold Project, located 95km north of Meekatharra, in the Bryah Basin, Western Australia.

A significant composite result of 5m @ 14.3g/t Au from 40m has been returned within drill hole DEAC0095.

This intercept was collected over the interpreted regolith boundary between transported cover and weathered residual upper saprolite which was logged at 42m. No quartz and/or chert is associated with the significant result. Due to the logged location within the regolith the result is considered either

• - Refer ASX Announcement 13 October 2021
  # - Refer ASX announcement 2 November 2021

AURIS MINERALS LTD ABN 77 085 806 284

Lvl3 18 Richardson Street West Perth Western Australia 6005 | PO Box 298 West Perth WA 6872

T [phone] | E [e-mail] | W aurisminerals.com.au

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FURTHER SIGNIFICANT GOLD MINERALISATION RETURNED FROM	17 DECEMBER 2021
AIR CORE DRILLING ASSAYS AT FEATHER CAP GOLD PROJECT, WA	P a g e | 2

a result of dispersion from proximal gold mineralisation along the above regolith boundary or associated with paleochannel gold mineralisation at the base of the transported cover.

The significant result within DEAC0095 is located 400m to the east and 300m to the north respectively, of previously reported high-grade intercepts from recent Air Core drilling of 10m @1.22g.t Au from 80m (DEAC0075) and 8m @ 5.44g/t Au from 87m, including 1m @ 26.7g/t Au from 87m (DEAC0089).

Results for a total of 58 drill holes have been received since the previous update on the Air Core drilling, (Refer ASX announcement 2 November 2021), and included the new significant result from DEAC0095. No other significant results were received. Results from five additional holes remain pending.

Planned infill Air Core drilling, RC drilling and 1m sampling of the significant mineralised intercepts from the Air Core drilling will assist with the ongoing interpretation of the Durack East prospect.

An RC drill rig is currently being sourced to complete a program of four RC drill holes at the Durack East Prospect, designed to further evaluate high-grade gold intercepts received for the recently completed Air Core. Planned drilling was expected to commence early December, however suitable drill rig availability has been limited, and the work is now proposed for Q1 2022.

Planned heritage surveying required to complete further infill Air Core drilling at Durack East to a drill spacing of 200m was scheduled to be completed early December 2021, however the programme has been suspended to a later date at the request of participants. At this stage the earliest the heritage surveying can be completed would be from February 2022.

Figure 1 - Durack East Prospect / Morck Well JV Drill Plan

Notes - Durack Gold Resource - Refer WGX announcement dated 4 September 2017

All other results - Refer ASX announcement 20 April 2020, 17 July 2020, 23 October 2020, 28 October 2021, 28 January 2021, 20 April 2021, 13 October 2021, 2 November 2021.

AURIS MINERALS LTD ABN 77 085 806 284

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Figure 2 - Durack East Anomalous Geology in Recent Air Core Plan

Auris Managing Director, Mike Hendriks, commented: "These new high-grade results are encouraging as they continue to support our theory of a much larger gold system being hosted between the Morck Well and Feather Cap projects. We are aiming to unlock the total mineralised strike of 6.3km between these two projects and the presence of further high-grade gold is a significant step forward.

We will now look to undertake infill Air Core drilling, RC drilling and 1m sampling of the significant mineralised intercepts from this latest programme to assist with the ongoing interpretation of the Durack East prospect."

Drilling Summary

A total of 76 Air Core drill holes were completed for 6,151 metres within the Feather Cap Project, at the Durack East Prospect (Refer ASX Announcement 29 September 2021). Drilling was designed to evaluate the potential for strike extensions to significant gold mineralisation highlighted by previous drilling along strike to the east and west.

Drilling was completed at 200m and 400m line spacings with holes completed every 100m along the lines. Infill drilling was completed at 50m spacing in areas around drilling intersecting significant quartz veining and/or chert, or prospective lithological contacts.

Drilling intersected several anomalous zones of quartz veining and jasperoidal chert along strike from recent and historical drill results, associated with prospective lithological contacts. A full review of the drilling will be completed once all results are received to better understand the mineralisation and geology within the Durack East Prospect.

AURIS MINERALS LTD ABN 77 085 806 284

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Regional Drilling Summary

Significant gold mineralisation has been intersected previously along strike to the east within previous Air Core drilling completed by both Sandfire Resources Limited (ASX: SFR) and Auris.

Regional Air Core drilling completed along strike to the east by Sandfire within the Morck Well Project at 800m line spacing, has returned significant gold mineralisation, including 5m @ 4.76g/t Au from 70m (MWAC2682) and 10m @ 1.25g/t Au from 110m (MWAC2679), (Refer ASX announcement 23 October 2020).

Air Core drilling completed by Sandfire in the west of the Morck Well Project, highlighted a potential 3.2km of gold mineralised trend which potentially extends to the west into the Feather Cap project for a further 3.0km, highlighted by the intersection of 4m @ 0.69g/t Au from 141m including 2m @ 1.26g/t Au from 142m (DEAC0009 - Refer ASX Announcement 28 January 2021) within Air Core drilling completed during December 2020 and significant results of 8m @ 5.44g/t Au from 87m including 1m

• 26.7g/t Au from 87m (DEAC0089)- Refer ASX Announcement 13 October 2021) and 10m @ 1.22g/t Au from 85m from drill hole (DEAC0075) from the recent Air Core drill programme.

Significant gold mineralisation also occurs to the west of the planned drilling in the form of the Durack Gold Resource (Refer WGX announcement dated 4 September 2017), located along over 2km strike and outside of Auris tenure. Historical RAB drilling by Plutonic Resources and Geopeko in the 1990's, located in the western extremity of the planned drilling has intersected high-grade gold results including 35m @ 1.8g/t Au from 32m including 8m @ 5.19g/t Au from 32m (JRB43) and 20m @ 3.01g/t Au from 40m including 4m @ 10.7g/t Au from 40m, (JR60, Refer ASX announcement 28 October 2020).

Initial observations from drilling completed to date at the Durack East Prospect (located within the Feather Cap Project) and at the Morck Well Project to the east, suggest the potential exists for significant mineralisation to be defined over a total strike extent of 6.2km.

-ENDS-

For and on behalf of the Board.

Mike Hendriks

Managing Director

For Further information please contact:

Mike Hendriks

Managing Director

Ph: 08 6109 4333

AURIS MINERALS LTD ABN 77 085 806 284

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ABOUT AURIS MINERALS LIMITED

Auris is exploring for base metals and gold in the Bryah Basin of Western Australia. Auris has consolidated a tenement portfolio of 1,410km², which is divided into eight well-defined project areas: Forrest, Cashman, Cheroona, Doolgunna, Morck Well, Feather Cap, Milgun and Horseshoe Well, (Figure 3).

In February 2018, Auris entered a Farm-in Agreement with Sandfire in relation to the Morck Well and Doolgunna Projects which covers ~430km² (the Morck Well JV). During September 2019, Auris entered into a Farm-in with Sandfire in relation to the Cashman Project tenements, E51/1053 and E51/1120, (the Cashman JV). On 4 February 2020 Auris and Northern Star Resources Limited (NST) entered into a Farm-in with Sandfire in relation to the Cheroona Project tenements, E51/1391, E51/1837 and E51/1838, (the Cheroona JV). Sandfire has the right to earn a 70% interest in each of above projects upon completion of a Feasibility Study on a discovery of not less than 50,000t contained copper (or metal equivalent) on the project. Auris manages exploration on all other tenements, including those that are subject to arrangements with third parties.

Figure 3: Auris' copper-gold exploration tenement portfolio, with Sandfire (SFR),

Northern Star (NST), Westgold (WGX), Fe Ltd and Gateway JV areas indicated

Notes:

1. The Forrest Project tenements E52/1659 and E52/1671 have the following outside interests:
2. • Auris 80%; Westgold Resources Ltd 20% (ASX:WGX). Westgold Resources Ltd interest is free carried until a Decision to Mine
   • Westgold Resources Ltd own the gold rights over the Auris interest.
3. The Forrest Project tenement P52/1493 have the following outside interests:
4. • Westgold Resources Ltd own the gold rights over the Auris interest.
5. The Forrest Project tenements P52/1494-1496 have the following outside interests:
6. • Auris 80%; Fe Ltd 20% (ASX:FEL). Fe Ltd interest is free carried until a Decision to Mine
7. The Cheroona Project tenements E51/1391, E51/1837-38 have the following outside interests:
8. • Auris 70%; Northern Star Resources Ltd 30% (ASX:NST)
9. The Horseshoe Well Project tenement E52/3291 has the following outside interests:
10. • Auris 85%; Gateway Projects WA Pty Ltd (formerly OMNI Projects Pty Ltd) 15% (Gateway Projects free carried until a Decision to Mine)
11. The Milgun Project tenement E52/3248 has the following outside interests:
12. • Auris 85%; Gateway Projects WA Pty Ltd (formerly OMNI Projects Pty Ltd) 15% (Gateway Projects free carried until a Decision to Mine)
13. The Morck Well Project tenements E51/1033, E52/1613 and E52/1672 have the following outside interests:
14. • Auris 80%; Fe Ltd 20% (ASX:FEL). Fe Ltd interest is free carried until a Decision to Mine

AURIS MINERALS LTD ABN 77 085 806 284