Auroch Minerals Limited provided an exploration update on work programmes at the Kangaroo Hill Lithium Project (KHLP) in Western Australia (WA) (Auroch Minerals 80%, Lodestar Minerals Ltd. 20%). The phase 1 reverse circulation (RC) exploration programme targeting Lithium-Caesium-Tantalum (LCT) pegmatites at KHLP has now been completed. The programme was the first lithium specific exploration drilling programme conducted by the Company in WA.

Commencing in mid-January, the programme tested three high priority LCT pegmatite targets defined by surface geochemistry (2.37% Li2O peak assay) and previous drill hole intercept NPRC084 (6m @ 1.38% Li2O from 198m2). A total of fourteen holes were drilled for 3,440m, with drilling depths ranging between 150-270m. Pegmatite lithologies were identified visually in twelve out of the fourteen holes highlighting the success of the Company's field mapping exercise.

The majority of drill holes were angled and orientated to the east, however a small number of holes were orientated to the north to better understand the geometry of the pegmatites. Intercepts ranged between one metre and thirty-five metres (down hole) with a number of holes intercepting multiple pegmatite units. All pegmatite intercepts have now been delivered to the laboratory for assaying, with results expected over the next one to two months.

In addition, prospective ultra-mafic to mafic contacts have been sent for assaying to evaluate the nickel sulphide potential. The Company views this area to be underexplored and is seen to be highly prospective for both LCT pegmatites and nickel sulphides. As such, Auroch will continue in its multi commodity focus across the KHLP tenure.

Geological modelling is also currently underway and is being utilised to understand the strike potential and geometry of the intercepted pegmatites. The Company has now commenced a target generative geophysical review of the greater project area. This review will commence with a detailed magnetic litho-structural interpretation of the northern half of the Nepean Nickel Project where it is believed the pegmatites have fractionated to LCT pegmatites.

As part of the geophysical review, a ground based seismic and resistivity survey will be trialled to assess the overall effectiveness in defining pegmatite's below cover and at depth. The Company will utilise the phase 1 geological and geochemical drilling data plus the geophysical data to plan an extended targeted Phase 2 exploration drilling programme in the June 2023 quarter. The Company is pleased to provide the following update on its excellent portfolio of projects, with exciting results and news flow expected over the coming weeks: Nevada Lithium Project.

Maiden drilling programme and geological evaluation - Nearing completion, Planning and permitting of second drilling programme – Underway: Saints Nickel Project, Study - Nearing Completion, Kangaroo Hill Lithium Project (KHLP), Target generative geophysical programme -Underway, Geological modelling - Underway: Nepean Nickel Project, Open Pit Scoping Study – In progress.