Auroch Minerals Limited announced that a new Mineral Resource Estimate has been completed for the Saints Nickel Project in Western Australia. The infill drilling also enabled a tighter control on the modelling of the mineralised zones, which successfully increased the average nickel grade by 15% when compared to the previous JORC (2012) Saints MRE (1.05Mt @ 2.00% Ni for 21.4kt of contained nickel metal), whilst effectively maintaining the amount of contained nickel. Using the updated Saints MRE, work will now commence on mine design and optimisation studies.

Together with the ongoing metallurgical testwork, these are the final critical work programmes required to complete the Saints Scoping Study, which the Company is working hard to deliver by the end of the current quarter. Material Information Summary ­ Mineral Resource Estimation: Auroch provided the following summary in regard to the Mineral Resource Estimation (MRE). The MRE has been compiled under the supervision of Mr. Shaun Searle who is a director of Ashmore Advisory Pty Ltd. and a Registered Member of the Australian Institute of Geoscientists.

Mr. Searle has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he has undertaken to qualify as a Competent Person as defined in the JORC Code (2012). All Mineral Resources figures reported in the table above represent estimates as at 10th August 2022. Mineral Resource Estimates are not precise calculations, being dependent on the interpretation of limited information on the location, shape and continuity of the occurrence and on the available sampling results.

The totals contained in the above table have been rounded to reflect the relative uncertainty of the estimate. Rounding may cause some computational discrepancies. Mineral Resources are reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The Joint Ore Reserves Committee Code ­ JORC 2012 Edition) (JORC Code (2012)).

Geology and Geological Interpretation: The Saints Nickel Project contains three known occurrences of nickel sulphide mineralisation: Saint Andrews, Saint Patricks and the Western Contact. The deposits are regarded as Archaean Kambalda-style, komatiite-hosted, massive nickel sulphide mineralisation. Saints occurs within the Menzies-Bardoc tectonic zone in ultramafic units equivalent to the Highway Ultramafics.

The main sulphide species recognised in all three prospects are pyrrhotite, pentlandite, chalcopyrite and pyrite, with violarite in the transitional to weathered zones. High grade nickel mineralisation occurs as massive or matrix sulphides in the main modelled resource zones with disseminated or cloud sulphides occurring in the hanging wall position proximal to mineralisation in some areas. Mineralisation widths range from one to two metres up to six metres (true width).