Auris Minerals : Quarterly Activities/Appendix 5B Cash Flow Report

20 April 2022

QUARTERLY ACTIVITIES REPORT

FOR THE PERIOD ENDED 31 MARCH 2022

Feather Cap Project, Bryah Basin (100% AUR)

•  Maiden RC drilling programme at Durack East Prospect completed - 4 holes for 709m

•  Best results from RC drilling programme include:

  • o 1m @ 2.37g/t Au from 32m within DERC0002

  • o 5m @ 1.87g/t Au from 30m within DERC0003

•  Preliminary interpretations of drilling completed to date at the Durack East Prospect has highlighted the potential for two mineralised structures

•  Five Air Core drill holes completed for 481m to further test mineralised structures at Durack East Gold Prospect - results pending

•  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

•  Exploration completed to date continues to support the potential existence of an anomalous gold zone stretching 6.2km between the Morck Well and Feather Cap projects

Forrest Project, Bryah Basin (80% AUR)

•  60 Air Core drill holes for 4,186m completed to further evaluate regional targets outside existing JORC resources at Forrest Copper Project - results pending

•  Priority targets tested at the Forrest Copper Project included:

  • o Significant copper/gold drill intercepts within previous Air Core drilling

  • o Chargeability/conductivity targets identified by previously completed IP surveying; and/or

  • o Structural targets with similarities to the DeGrussa Copper Deposit

•  Forrest Copper Project contains an existing JORC Resource of 2.4 Mt @ 1.7% Cu for 41,500t copper metal

Morck Well JV, Bryah Basin (SFR earning 70%)

•  Two RC drill holes for 327m completed to further evaluate interpreted supergene enrichment intersected within previous air core drilling including:

  • o 10m @ 0.42% Cu from 40m incl 5m @ 0.64% Cu from 40m - MWAC2870

  • o 15m at 0.46% Cu from 55m incl 5m at 0.89% Cu from 65m - MWAC3356

•  Best results from the completed RC drilling include:

  • o 11 m @ 0.12% Cu from 103m - MWRC0052

  • o 2m @ 0.12% Cu from 44m - MWRC0052

Cheroona JV, Bryah Basin (SFR earning 70%)

•  RC precollar and 392.9m diamond tail completed - diamond tail results pending

•  Drilling was designed to target DeGrussa host stratigraphy and prospective structures

Corporate

•  Cash balance at 31 March 2022 of $3.9M

•  Auris continues to assess new strategic project opportunities that align with the Company's focus on gold and copper exploration

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-mail] | W aurisminerals.com.au

Gold and base metals explorer Auris Minerals Limited ("Auris" or "the Company") (ASX: AUR) is pleased to provide its Quarterly Activities Report for the period ended 31 March 2022.

Commenting on the March quarter, Auris Managing Director, Mike Hendriks said: "Auris continued to make solid exploration progress during the March quarter, highlighted by the completion of our maiden drilling programme at the Durack East gold target. This maiden programme demonstrated the potential for two mineralised structures and allows our team to further refine our planning for follow-up drill programmes later this year. Importantly, exploration continues to support our broader objective, which is a potential anomalous gold zone stretching 6.2km between the Morck Well and Feather Cap projects. Drilling was also completed at the Forrest Copper Project to further evaluate regional targets outside existing JORC resource of 2.4 Mt @ 1.7% Cu for 41,500t Cu metal, with results pending.

With further results pending and a busy pipeline of exploration work planned for the coming months, we look forward to providing further updates on exploration progress from both our 100% owned and JV portfolios this quarter."

Company Overview & Background on Joint Ventures

Auris is exploring for base metals and gold in the Bryah Basin of Western Australia. Auris has consolidated a tenement portfolio of 1,385km², which is divided into eight well-defined project areas:

Forrest, Cashman, Cheroona, Doolgunna, Morck Well, Feather Cap, Milgun and Horseshoe Well,

(Figure 1).

In February 2018, Auris entered a Farm-in Agreement with Sandfire Resources Limited ("Sandfire"; ASX: SFR) 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 1. 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:

  •  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.

• 2. The Forrest Project tenements P52/1494-1496 have the following outside interests:

  •  Auris 80%; Fe Ltd 20% (ASX:FEL). Fe Ltd interest is free carried until a Decision to Mine

• 3. The Forrest Project tenements P52/1493 has the following outside interests:

  •  Westgold Resources Ltd own the gold rights over the Auris interest.

• 4. The Cheroona Project tenements E51/1391, E51/1837-38 have the following outside interests:

  •  Auris 70%; Northern Star Resources Ltd 30% (ASX:NST)

• 5. The Horseshoe Well Project tenement E52/3291 has the following outside interests:

  •  Auris 85%; Gateway Projects WA Pty Ltd (formerly OMNI Projects Pty Ltd) 15% (Gateway Projects free carried until a Decision to Mine)

• 6. The Milgun Project tenement E52/3248 has the following outside interests:

  •  Auris 85%; Gateway Projects WA Pty Ltd (formerly OMNI Projects Pty Ltd) 15% (Gateway Projects free carried until a Decision to Mine)

• 7. The Morck Well Project tenements E51/1033, E52/1613 and E52/1672 have the following outside interests:

  • • Auris 80%; Fe Ltd 20% (ASX:FEL). Fe Ltd interest is free carried until a Decision to Mine

EXPLORATION

1. FEATHER CAP PROJECT (Auris 100%)

Project Summary

The Feather Cap Project is 100% Auris and includes tenement E52/1910 which hosts both the Feather Cap and Durack East gold Prospects.

FOR THE PERIOD ENDED 31 MARCH 2022 RC Drilling

An RC drilling programme was completed at the Durack East Prospect, comprising four holes for 709m (DERC0001 - DERC0004), to further evaluate high-grade gold mineralisation received from previously completed Air Core drilling including:

•  8m @ 5.44g/t Au from 87m, including 1m @ 26.7g/t Au from 87m (DEAC0089) 1

•  10m @ 1.22g.t Au from 85m (DEAC0075) 2

• 1 Refer ASX Announcement 13 October 2021

• 2 Refer ASX announcement 2 November 2021

  All results from the programme were received during the quarter, with significant gold results including 1m @ 2.37g/t Au from 32m within DERC0002 and 5m @ 1.87g/t Au from 30m within DERC0003 (5m composite, Refer ASX Announcement 7 February 2022).

  Preliminary Interpretations

  Preliminary interpretations of the drilling completed to date at the Durack East Prospect has highlighted the potential for two mineralised structures. One of the structures has an interpreted apparent dip of approximately -40° to the north, subparallel and adjacent to the dip of the Narracoota/Ravelstone Formations contact. The other mineralised trend has an interpreted apparent dip of between -45° to -70° to the south on the two RC drill lines. Mineralisation along the two trends to date, is predominantly low grade and patchy with interpreted high-grade mineralisation occurring where the two mineralised structures intersect or the structures intersection with favourable regolith boundaries.

Table 1- Durack East RC Drilling Significant Intersections

Hole Number	Depth From (m)	Depth To (m)	Interval (m)	Au (g/t)
DERC0001	No Significant Intersection
DERC0002	32	33	1	2.37
DERC0003	30	35	5*	1.87
DERC0004	No Significant Intersection

* - 5m composite sample

All intercepts ≥1m @ ≥1g/t Au reported as significant

Figure 2. Durack East Cross Section 674600mN - Interpreted Geology and mineralisation - February 2022

Composite Air Core one metre Sampling

A total of 25 samples were taken from Air Core drilling at the Durack East Prospect completed in 2021. The sampling was restricted to one metre samples of the five metre composite samples from the initial analysis which returned gold results greater than 0.5g/t gold. Assays returned from the one metre sampling resulted in revised significant intercepts of the high-grade zones within DEAC0075 and DEAC0089 as follows (Refer ASX Announcement 7 February 2022):

•  DEAC0075 - 5m @ 2.21g/t Au from 87m

•  DEAC0089 - 8m @ 4.49g/t Au from 87m including 2m @ 14.8g/t Au from 87m

The completed sampling of the significant five metre composite within DEAC0095 which returned 14.3g/t Au returned a maximum result of 0.15g/t Au within the base of the transported cover. The difference in the tenor of results from the sampling is potentially due to the nuggetty nature associated with paleochannel mineralisation.

Air Core Drilling

Five Air Core drill holes (DEAC0104-0108) for 481m were completed at the Durack East Gold Prospect within the Feather Cap Project to further assist with the understanding of the controls to mineralisation.

Results from the completed Air Core drilling are pending and are expected late April / early May 2022.