Auris Minerals : Sandfire JV Update March 2022 Quarter

19 April 2022

SANDFIRE JV UPDATE

MARCH 2022 QUARTER

MORCK WELL JV

Morck Well Project

•  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

•  Two metres of trace native copper intersected in completed RC drill hole, MWRC0052, from 118-120m

•  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

•  A follow up RC drill programme is being designed to test the strike continuity of the mineralisation and to test the potential for mineralisation at depth

CHEROONA JV

•  RC precollar and diamond tail completed

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

•  Results from 392.9m diamond tail are pending

Gold and Base Metals explorer Auris Minerals Limited ("Auris" or "the Company") (ASX: AUR) is pleased to provide the following update on exploration completed by Sandfire Resources Limited ("Sandfire"; ASX: SFR) during the March 2022 quarter across the Joint Venture Projects located in the Bryah Basin, Western Australia.

Auris Managing Director, Mike Hendriks commented: "Sandfire continued to advance exploration across the Cheroona and Morck Well Projects during the March Quarter. A single diamond hole was completed at Cheroona to test an airborne EM anomaly, and although no significant results were returned from the RC precollar we are still awaiting final assays from the 392m diamond tail.

Looking ahead, both Morck Well and Doolgunna continue to shape as strategic opportunities. Both projects have demonstrated comparable high-grade gold mineralisation, associated within similar geology to Sandfire's nearby Old Highway Project, outlining the potential to add to Sandfire's existing gold resource base. Follow-up RC drilling is planned for Morck Well to test the strike continuity of the supergene mineralisation and to test the potential for mineralisation at depth. We look forward to reporting progress from across our JV portfolio as Sandfire continues its systematic work programmes over the coming months."

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

SANDFIRE JV UPDATE - MARCH 2022 QUARTER 19 APRIL 2022

MORCK WELL JV (SFR earning a 70% interest)

Project Summary

In February 2018, Auris entered a Farm-in Agreement with SFR in relation to the Morck Well and Doolgunna Projects which covers ~430km². The Morck Well and Doolgunna Projects are strategically located 22km to the south-west and 4km to the southeast respectively, of Sandfire's DeGrussa Copper Mine in Western Australia. The Morck Well project is also located 8km along strike from Sandfire's Old Highway gold deposit with comparable high-grade gold mineralisation being intersected associated within similar geology within regional Air Core drilling completed to date.

Air Core Drilling

Results were recently received for 15 holes (MWAC4242 - MWAC4256), completed in the December 2021 quarter. This programme was designed as a 400x100m infill pattern to provide high quality litho-geochemical data and key geological information to delineate the upper Narracoota stratigraphy, known to be host to VMS-style mineralisation.

No significant results were received.

RC Drilling

Two RC drill holes (MWRC0051 and MWRC0052) for 327m were completed to further evaluate interpreted supergene enrichment intersected at the base of complete oxidation within previous air core drilling (Refer ASX Announcements 23 September 2020 and 20 January 2021) including:

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

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

MWRC0051 was abandoned after 34m and the hole re-designed, MWRC00052, intersected significant copper, zinc and lead mineralisation (Table 1) and 2m of trace native copper between 118-120m. The drill hole encountered an extended weathered profile, intersecting weathered upper saprolite down to 136m, interpreted to be associated with preferential weathering along a structure. Further RC drilling is being planned to test down dip and along strike to further evaluate the mineralisation intersected to date.

Table 1. Significant RC Drill Results - Morck Well JV AC

Hole ID	From (m)	To (m)	Interval (m)	Intersection
Cu (ppm)	Au (ppm)	Zn (ppm)	Pb (ppm)
MWRC0052 including including	34	73	38	577	<0.01	2,528	1,707
44	46	2	1,205	<0.01	4,250	5,175
87	120	33	740	<0.01	2,502	240
103	114	11	1,215	<0.01	3,455	202

Diamond Drilling

The diamond drill rig was unable to re-enter MWRC0052 to complete a diamond tail due to adverse ground conditions.

SANDFIRE JV UPDATE - MARCH 2022 QUARTER

19 APRIL 2022

Figure 1. Drilling Summary Plan - Morck Well Project

SANDFIRE JV UPDATE - MARCH 2022 QUARTER 19 APRIL 2022

Figure 2. Drilling Summary Plan - Morck Well Project

Geological Understanding

MWRC0052 intersected siliciclastic siltstone, shale and wackes interpreted to be of the Wilthorpe Formation before transitioning into quartzite, siltstone, shale, possible granular iron formation and chert. The drill hole was drilled to the south, however the lithologies observed indicate that the hole could have intersected rocks of the Robinson Range Formation. MWRC00052 intersected trace native copper at 118-120m.

Geological interpretation of the area is ongoing.

Geophysics

Moving loop electromagnetic surveying (MLEM) was completed at a 400mx100m spacing centred on the above completed RC drilling and previous anomalous Air Core drilling. MLEM anomalism has been identified on the northern half of the six lines completed of the programme to date. The response is interpreted as being sourced by a stratigraphic conductor, likely associated with the Robinson Range Formation.

MLEM has commenced on tenement E52/1613, (Morck Well West) at a 400mx100m spacing.

Ongoing and Forecast Work

A follow up RC drill programme is being designed to test the strike continuity of the supergene mineralisation observed and to test the potential for mineralisation at depth. Currently a suitable drill rig will be available in July 2022.

Sandfire has advised that regional targeting and geological interpretations by Sandfire personal and external consultants are ongoing.

CHEROONA JV (SFR earning a 70% interest)

SANDFIRE JV UPDATE - MARCH 2022 QUARTER 19 APRIL 2022

Project Summary

On 4 February 2020 Auris and Northern Star Resources Limited (NST) entered into a Farm-in agreement with Sandfire in relation to tenements, E51/1391, E51/1837 and E51/1838, to advance exploration at the Cheroona Project located in the Bryah Basin of Western Australia. Under the agreement Sandfire are sole funding exploration until a Feasibility Study is completed on a discovery of >50,000t Copper or metal equivalent to earn a 70% interest.

Diamond Drilling

A single diamond hole for 840.9m was completed, comprising a 448m RC precollar and 392.9m diamond tail. The drill hole was designed to test an airborne EM anomaly, interpreted to be a fractionated dolerite or a jasperoidal chert and the potential for the prospective Karalundi Formation below this anomaly and the Narracoota Formation at depth.

Results for the RC precollar have been received with no significant results returned. Results from the diamond tail are pending.

Geological Understanding

CHRC0008 intersected massive to brecciated basalt and dolerite of the Narracoota Formation in the RC drill hole. Fine disseminations of pyrite and pyrrhotite were observed within quartz-carbonate-chlorite veins. A dark greenish black chloritoid alteration was observed between the clasts.

The diamond tail continued into the brecciated basalt of the Narracoota Formation with a combination of rounded and angular clasts implying a monomictic breccia or possible re-sedimentation of the basalt. Localised intervals of fractured core were often associated with a graphitic alteration. Fine disseminations of pyrite were observed from 720m - EOH.

The diamond drill hole did not intersect the Karalundi Formation.

Geophysics

The HQ casing from the diamond drilling became stuck down hole and was unable to be successfully removed prior to the DHEM survey being conducted. The DHEM survey was carried out from 448m to EOH. Results from the DHEM interpretations are pending.

Ongoing and Forecast Work

Sandfire has advised that regional targeting and geological interpretations by Sandfire personal and external consultants are ongoing.