ORE RESOURCES LIMITED — Investor Presentation 2013

Investor Presentation Exploration Update February 2013

This presentation has been prepared by Auroch Minerals NL ( Auroch or the Company) . It contains general information about the Company’s activities current as at the date of the presentation. The information is provided in summary form and does not purport to be complete. This presentation is not to be distributed (nor taken to have been distributed) to any persons in any jurisdictions to whom an offer or solicitation to buy shares in the Company would be unlawful. Any recipient of the presentation should observe any such restrictions on the distribution of this presentation and warrants to the Company that the receipt of the presentation is not unlawful. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation or any information, opinions or conclusions expressed in the course of this presentation.

This presentation is not a prospectus, product disclosure document or other offering document under Australian law or under any other law. It has been prepared for information purposes only. This presentation contains general summary information and does not take into account the investment objectives, financial situation and particular needs of any individual investor. It is not financial product advice and investors should obtain their own independent advice from qualified financial advisors having regarding to their objectives, financial situation and needs. Auroch and/or Terranova nor any of their related bodies corporate is licensed to provide financial product advice.

This presentation and information, opinions or conclusions expressed in the course of this presentation contains forecasts and forward looking information. Such forecasts, projections and information are not a guarantee of future performance, involve unknown risks and uncertainties. Actual results and developments will almost certainly differ materially from those expressed or implied.

There are a number of risks, both specific to Auroch and of a general nature which may affect the future operating and financial performance of Auroch and the value of an investment in Auroch including and not limited to title risk, renewal risk, economic conditions, stock market fluctuations, gold demand and price movements, timing of access to infrastructure, timing of environmental approvals, regulatory risks, operational risks, reliance on key personnel, reserve estimations, native title risks, foreign currency fluctuations, and mining development, construction and commissioning risk.

You should not act or refrain from acting in reliance on this presentation, or any information, opinions or conclusions expressed in the course of this presentation. This presentation does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of the prospects of Auroch. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision. Recipients of this presentation must undertake their own due diligence and make their own assumptions in respect of the information contained in this presentation and should obtain independent professional advice before may any decision based on the information. No representation or warranty, express or implied, is made in relation to the fairness, accuracy or completeness of the information, opinions and conclusions expressed in the course of this presentation. To the maximum extent permitted by law, no representation, warranty or undertaking, express or implied, is made and, to the maximum extent permitted by law, no responsibility or liability is accepted by the Company or any of its officers, employees, agents or consultant or any other person as to the adequacy, accuracy, completeness or reasonableness of the information in this presentation. To the maximum extent permitted by law, no responsibility for any errors or omissions from this presentation whether arising out of negligence or otherwise is accepted. An investment in the shares of the Company is to be considered highly speculative.

This presentation and information, opinions or conclusions expressed in the course of this presentation should be read in conjunction with Auroch’s other periodic and continuous disclosure announcements lodged with the ASX, which will be available on the Auroch.

Some statements in this presentation regarding future events are forward-looking statements. They involve risk and uncertainties that could cause actual results to differ from estimated results. Forwardlooking statements include, but are not limited to, statements concerning the Company’s exploration programme, outlook and target sizes. They include statements preceded by words such as “potential”, “target”, “scheduled”, “planned”, “estimate”, “possible”, “future”, “prospective” and similar expressions.

The information in this report that relates to Exploration Results is based on information compiled by Mr Gordon Koll who is a registered professional natural scientist (Pr.Sci.Nat.) under the South African Council for Natural Scientific Professions (SACNASP) and a Fellow of the Geological Society of South Africa, which is recognised as a ROPO by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code). Mr Koll is a full-time employee of the Company. Mr Koll has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2004 Edition of The JORC Code. Mr Koll consents to the inclusion in this presentation of the matters based on the information in the form and context in which it appears.

The information in this report that relates to Mineral Resources is based on information reviewed by Dr W.D. Northrop who is a consultant to ExplorMine and is appointed as Independent Geologist to Auroch Minerals NL project team. He is registered by the South African Council for Natural Scientific Professions as a Professional Natural Scientist in the field of practice of Geological Science, Registration Number 400164/87, and as such is considered to be a Competent Person. Dr Northrop has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activity he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Dr Northrop consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears.

2

• Auroch Minerals NL (ASX:AOU) completed the acquisition of 100% of the 3moz Manica Gold Project in Mozambique from Pan African Resources plc. (“PAF”) (AIM:PAF, JSE:PAN)

• PAF remains as a cornerstone shareholder. PAF strategy to focus on its cash-flow generating projects (currently operates 2 gold mines and PGM’s operations in South Africa)

• AOU reinstated to trading on the ASX in January 2013 with $5.4m in cash

• Mining license granted 3 March 2011 - valid for 25 years

• With an experienced management team in place and a focussed Board, the company now has a new life with a busy exploration program well under way for CY 2013

• Forward strategy to target low cost resources recoverable by direct cyanidation on the Northern Shear

3

• Auroch acquired 100% of the Manica Gold Project from PAF:

• initial issue of 20.9 million AOU ordinary shares.

• shareholder approval for the issue of a further 4.1 million AOU shares in Q1 2013.

• deferred consideration of A$2 million by July 2014.

• Auroch to issue a further 71.66 million ordinary shares based on performance milestones:

Resources based milestones:

• Delineation of a further 400koz oxide resource + A$1m cash

• Delineation of a further combined 1,000koz oxide resource + A$1m cash

Development based milestones¹:

• Completion of a BFS + A$1m cash

• Reaching nameplate capacity + A$1m cash

4

¹Development milestones can be satisfied by either cash or shares at the company’s election

5

1 10.5m partly paid shares escrowed until Sep 2013; 6.27m partly paid shares escrowed until January 2015

Experienced Board with African Expertise

==> picture [69 x 81] intentionally omitted <==

Dean Cunningham

Managing Director

• African based mining engineer and corporate financier with 25 years’ experience

• Executive Director of Corporate Finance at Basil Read where he was responsible for acquisition activity, capital raisings and investor relations

• Simultaneously held the position of CEO at TWP Investments - the investment arm of TWP Holdings - a mining, processing and energy consultancy company with operations in South Africa, Peru and Australia

Glenn Whiddon

Non-Executive Chairman

• Extensive background in equity capital markets banking and corporate advisory with a specific focus on natural resources

==> picture [71 x 83] intentionally omitted <==

Jan Nelson

Non-Executive Director

• A geologist with over 15 years’ experience and an in-depth knowledge of the project

• Current CEO of Pan African Resources and previously held positions in mine management and operations with Harmony Gold Mining Company Limited, Hunter Dickenson and Gold Fields Limited

• Joins board to maintain and strengthen working relationship between Pan African Resources and Auroch

==> picture [71 x 86] intentionally omitted <==

Matthew Foy

Company Secretary

• A Chartered Secretary, previously a Senior Advisor at the ASX where he reviewed and approved the listing of over 40 companies

• Previously worked for the Bank of New York in Sydney, Melbourne, Geneva and Moscow

• Currently Non-Executive Chairman of ZYL Limited (ASX:ZYL), Non-Executive Director of Agri Energy Limited (ASX:AAE) and a director of Statesman Resources Limited (TSX:SRR)

• Currently Company Secretary of Stonehenge Metals Limited (ASX:SHE), Segue Resources Limited (ASX:SEG) & SWW Energy Limited (ASX:SWW)

6

Experienced Management Team

==> picture [68 x 81] intentionally omitted <==

Gordon Koll

Geology Executive

• Experienced geologist with 30 years’ experience in the mining industry

• Previously Senior Geologist at Central African Exploration and Mining Company where he oversaw copper and cobalt exploration and evaluation

==> picture [70 x 82] intentionally omitted <==

Francisco Matos

Exploration Executive

• Geologist with 16 years’ experience working with different base metals throughout the central and northern regions of Mozambique

• • Previously Exploration Manager at the Manica Project – increased resource from 400,000oz to ~3Moz

• Green-fields gold exploration and management of copper, cobalt and gold exploration programmes in the DRC

• Extensive experience with government authorities and mining stakeholders in Mozambique

==> picture [69 x 81] intentionally omitted <==

Graeme Farr

Processing Consultant

• 37 years’ experience in the mining industry focusing in the field of process plant design and commissioning

• Previously held the position of Managing Director at Outsourced Plant Solutions (Pty) Ltd - the planned plant operating component of TWP/Basil Read

• Background includes experience with Anglo American Platinum and TWP Process Projects

==> picture [74 x 88] intentionally omitted <==

----- Start of picture text -----

•
----- End of picture text -----

Prof. Jim Porter

Mining Consultant

• Consulting Engineer with 35 years’ operational, project and consulting experience

• Worked for Freegold North and Western Deep Levels, where he held positions including Production Manager, Project Manager and Mine Manager

• Chairman and CEO of a gold exploration company in Zimbabwe and Senior Vice President of the Southern African Institute of 7

• Mining and Metallurgy

• Situated in central Mozambique, 270km from the port of Beira

• Access along the “Beira Corridor” which contains road and rail links from Zimbabwe to Beira

• Power, water, telecommunications and local airport nearby

• Favourable political and legal environment based on Mining Law 2002

• Currently no local ownership requirement

• Multi-Party Democracy since 1994

• Full Ministerial support

==> picture [353 x 377] intentionally omitted <==

----- Start of picture text -----

Vale – Moatize Coal
Kenmare – Moma
Rio Tinto – Benga Coal Min Sands
----- End of picture text -----

8

• Located on the Odzi-MutareManica classical greenstone belt (160 km) which extends east-northeast direction across Zimbabwean-Mozambique border

• 2.5 Mozs of historical gold production

• A well documented gold area hosting:

==> picture [351 x 228] intentionally omitted <==

• Penhalonga;

• Rezende;

• Monarch; and

• Old West mines.

9

1 Inclusive of the 1,025,904oz at 4.13g/t Au using a 3.0g/t cut-off

10

• An extensive review of extensive database has highlighted the potential continuity of geological structure between Guy Fawkes and Boa Esperança

• Ground magnetics give confidence in identifying drill targets within the Northern Shear Zone and the exploration program

• Significant intercepts at Guy Fawkes include:

• 4m @ 7.08 g/t Au from 69m

• 5m @ 2.66 g/t Au from 51m

• 10m @ 2.27g/t Au from109m

• 3m @ 6.68 g/t Au from 24m

• Previous metallurgical testing has confirmed oxide mineralisation to a depth of 60m

==> picture [434 x 274] intentionally omitted <==

11

• During Q4 2012 the number of people employed on site were:

• 18 Permanent staff

• 16 Contractors

• No dressing station cases or incidents reported to date despite difficult weather conditions

• Contractor operating procedures approved

==> picture [616 x 171] intentionally omitted <==

12

 Project has two highly prospective shear zones,

• Northern Shear and

• Southern Shear

• Focus is on high grade low cost resources recoverable by direct cyanidation

==> picture [640 x 303] intentionally omitted <==

13

==> picture [636 x 302] intentionally omitted <==

==> picture [456 x 101] intentionally omitted <==

14

Drilling

• Commenced exploration drilling on the Northern Shear significantly ahead of schedule in November 2012.

• A total of 2,135 metres of diamond drilling (9 holes) was completed by mid-December 2012.

• All export and legal requirements have been completed so that samples can be sent to an accredited laboratory in Johannesburg.

Mapping

• Geological mapping of the Northern Shear focusing on Target 2 was initiated.

• Initial observations from this mapping indicate that potentially mineralised talc-chlorite schists, quartz veins and breccia zones exist along strike to the east of the Duque deposit.

==> picture [696 x 74] intentionally omitted <==

15

Geophysical

• A geophysical contractor was commissioned.

• All relevant permits were issued in particular those required from the Department of Defense in Mozambique.

• Helicopter landing pads were constructed and a refueling facility provided.

16

Current Drilling

• Site preparation is ongoing to support the exploration of the Northern Shear throughout 2013.

• – The current drilling campaign, which is a continuation of the Q4 2012 drilling campaign, recommenced on the 7 January 2013.

• This program is focused on Targets 1, 2 and 3 and will consist of both reverse circulation and diamond drilling techniques.

• Estimated 22,000 metres of DD and RC drilling will be completed in CY2013.

• Samples from Q4 2012 are currently being exported and the first results are expected within 6 weeks of arriving in Johannesburg, South Africa.

Mapping

• Continued geological mapping of the Northern Shear is underway, focusing on Target 2.

Geophysical

• The planned airborne Time Domain Electro Magnetic ( TDEM ) surve ~~y~~ over the Concession has commenced.

• This will elucidate the structure and will assist in target identification.

Geochemical

• The existing geochemical mapping will be augmented with new data from Target 2.

17

• First sample results expected in late February/ early March 2013

• Ongoing drilling throughout CY 2013

• RC drilling to complement current diamond drilling after the rains in March 2013

• Identification of resource prospects for detailed follow up exploration/evaluation to upgrade existing JORC compliant resources

==> picture [187 x 378] intentionally omitted <==

18

==> picture [681 x 193] intentionally omitted <==

----- Start of picture text -----

100.00
80.00
60.00
40.00
20.00
-
Azimuth Azimuth Excelsior Gold Excelsior Keegan Keegan Gryphon Gryphon Ampella Ampella Crusader Crusader PMI Gold Corp PMI Gold Bassari Bassari Azumah Azumah Auroch Auroch
Resources Resources Gold Resources Resources Minerals Minerals Mining Ltd Mining Resources Resources Corp Resources Resources Resources Resources Minerals Minerals
EV/oz
----- End of picture text -----

¹as at 21 January 2013

19

• JORC compliant resource ~ 3.0 Moz gold at an average in-situ grade of 1.83g/t (including 1,025,904oz at 4.13g/t Au using a 3.0g/t cut-off)¹

• Project area 42km[2] with 27km of prime, potential gold bearing strike

• of which 2km or 8% has been drilled to date

• current resources are open at depth

• Extensive historical database (approximately $25m spent on exploration and development to date)

• 21,941m of diamond drilling

• 13,595m of RC drilling

• Drill ready targets have been drilled, new targets identified

• Existing infrastructure adjacent to project

• PAF remain aligned as a significant cornerstone shareholder

• New Board and incentivised management structure

• Post acquisition EV/Resource Oz of $4.31² vs listed peer average of $37.39²

• AOU has a new life, is exploration focused and fully funded with an advanced targeted exploration program

20

¹Refer to slide 10 for the full JORC Compliant Resource ²As at 22 January 2013

Head Office, Perth Australia

T +61 (0) 8 9486 4036

E [email protected]

W www.aurochminerals.com

Dean Cunningham , Managing Director M1 +27 (0) 82 490 6429 (Africa) M2 +61 (0) 42 796 6068 (Australia)

E [email protected]

Jeremy McManus, Investor Relations M +61 (0) 42 200 0675 E [email protected]

Matthew Foy , Company Secretary

M +61 (0) 411 244 017 E [email protected]