Auris Minerals : Wodger Drilling Starts, Boosted by $200,000 Government Grant

ASX Announcement 5 September 2017

WODGER DRILLING STARTS, BOOSTED BY $200,000 GOVERNMENT GRANT

• Drilling underway on 2,500 metre RC and diamond drilling program at Wodger.
• Program designed to confirm the geometry of high‐grade copper mineralisation in WDRC005 which intersected 31m @ 2.39% Cu.
• $200,000 State Government Co‐Funded Exploration Drilling grant received for Wodger.

  Auris Minerals Ltd (ASX:AUR) is pleased to announce that the highly‐anticipated next phase of drilling at the Wodger prospect (part of the Company's Forrest Project1 ‐ ASX:AUR, Auris 80%; ASX:FEL, Fe Ltd 20%) in WA's Bryah Basin has commenced.

  The follow‐up program, consisting of 2,500m of diamond and RC drilling and has been strategically planned following the receipt of all remaining assays from the previous RC holes (WDRC001‐005) drilled at Wodger and the completion of relogging and interpretation of all drilling on the project to date.

  WA Government Co‐Funded Exploration Drilling

  The Company has been successful in its application for State Government Co‐Funded exploration drilling support and will receive $200,000 towards a single deep hole for the 'Wodger VMS Target'.

  The funding is part of the Government's Exploration Incentive Scheme (EIS), which provides $10 million a year through Royalties for Regions funding and was recently extended for another two years.

  Auris will have the money refunded after completion of the drilling project and supply of data to the Department of Mines, Industry Regulation and Safety (DMIRS).

  Auris commends the WA Government for this ongoing initiative to support exploration in the State.

  CEO Comment

  Auris CEO Wade Evans said: "The state government co‐funded drilling support for Wodger is perfectly timed with the drilling having commenced today. The Company is well funded to complete a significant program of drilling to determine the extent of the high‐grade copper mineralisation and looks forward to a flow of results over the coming month."

  AURIS MINERALS LTD ABN 77 085 806 284

  Suite 3, 703 Murray Street West Perth Western Australia 6005 | PO Box 298 West Perth WA 6872 T [phone] | E [e-mail] | W aurisminerals.com.au

  Follow‐up Drilling Program

  Approximately 2,500 metres of RC and diamond drilling (Figure 1) has been designed to determine geological controls and geometry of the high‐grade zones of mineralisation in WDRC005 which returned the following results (refer ASX announcement 31 July 2017):

  • 50 metres @ 1.55% Cu from 175 metres comprising:

    • 31 metres @ 2.39% Cu from 187 metres

    • 17 metres @ 3.41% Cu from 200 metres

  • 41 metres @ 0.47g/t Au from 177 metres

    • Including 1 metre @ 4.75g/t Au

  • 59 metres @ 5.05g/t Ag from 168 metres

    • Including 31 metres @ 9.21g/t Ag

Figure 1: Long section through the Wodger Prospect showing the pierce points of the drilling completed to date including significant intercepts in the RC and diamond drilling plus the approximate location of the planned program.

For and on behalf of the Board.

WADE EVANS Chief Executive Officer ABOUT AURIS MINERALS LIMITED

Auris is exploring for high‐grade VMS copper‐gold discoveries in Western Australia's highly‐ prospective Bryah Basin region and recently acquired Chunderloo area.

Auris has consolidated a ~1,350km2 copper‐gold exploration portfolio in the Bryah Basin divided into five well‐defined project areas - Forrest, Doolgunna, Morck's Well, Cashmans and Horseshoe Well (Figure 2).

The Company's exploration focus is on VMS horizons identified at the Forrest‐Wodger‐Big Billy trend, the Cuba and Orient‐T10 prospects.

Figure 2: Auris's copper‐gold exploration and mining portfolio with highly prospective target locations

Notes

1. The Forrest Project tenements (Figure 2) have the following outside interests:

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

3. ii. Westgold Resources Ltd (ASX:WGX) own the gold rights over the Auris interest.

   Competent Person's Statement

   Information in this announcement that relates to exploration results is based on and fairly represents information and supporting documentation prepared and compiled by Richard Pugh BSc (Hons) who is a Member of the Australasian Institute of Mining and Metallurgy.

   The information in this announcement that relates to previously released exploration was first disclosed under the JORC Code 2004. It has not been updated to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported and is based on and fairly represents information and supporting documentation prepared and compiled by Richard Pugh BSc (Hons) who is a Member of the Australasian Institute of Mining and Metallurgy.

   Mr Pugh is Exploration Manager for Auris Minerals Limited. Mr Pugh has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves. Mr Pugh consents to the inclusion in the announcement of the matters based on this information in the form and context in which it appears.

   No New Information

   Except where explicitly stated, this announcement contains references to prior exploration results and Mineral Resource estimates, all of which have been cross referenced to previous market announcements made by the Company. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and, in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the results and/or estimates in the relevant market announcement continue to apply and have not materially changed.

   Forward‐Looking Statements

   This announcement has been prepared by Auris Minerals Limited. This document contains background information about Auris Minerals Limited and its related entities current at the date of this announcement. This is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this announcement. This announcement is for information purposes only. Neither this document nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction.

   This announcement may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction. This document does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this representation are not intended to represent recommendations of particular investments to particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

   No responsibility for any errors or omissions from this document arising out of negligence or otherwise is accepted. This document does include forward‐looking statements. Forward‐looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Auris Minerals Limited. Actual values, results, outcomes or events may be materially different to those expressed or implied in this announcement. Given these uncertainties, recipients are cautioned not to place reliance on forward‐looking statements.

   Any forward‐looking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and ASX Listing Rules, Auris Minerals Limited does not undertake any obligation to update or revise any information or any of the forward‐looking statements in this document or any changes in events, conditions or circumstances on which any such forward‐looking statement is based.