Auric Mining

MARK ENGLISH

MANAGING DIRECTOR

(ASX:AWJ)

◾ Company Name: Auric Mining ◾ Company ASX code: AWJ ◾ Key Commodities: Gold ◾ Key Personnel: Steven John Morris, Non-executive Chairman | Mark Anthony English, Managing Director | John Peter Utley, Technical Director ◾ Locations: Widgiemooltha and Norseman ◾ Market Cap as of 15/08/22: $5.59M ◾ FY22 Share price range – Low/High: $0.061 / $0.160 ◾ Company Website: auricmining.com.au

COMPANY PROFILE

Auric Mining is a gold exploration and development company with a clearly defined focus in Western Australia, where the company’s management team has spent decades gathering experience and growing proficiencies, capitalising on local knowledge and a deep understanding of the region’s geology.

It’s for that reason that the company is focussed on its two main assets, both of which are in Western Australia; namely the Widgiemooltha Gold Project, which comprises the 100% owned Munda Gold Project along with, and the 100% owned Jefferys Find Gold Project.

The Widgiemooltha Gold Project includes the flagship Munda Gold Project, located approximately 34 km south-west of the mining town of Kambalda and is conveniently situated 5km west of the township of Widgiemooltha.

The project has an indicated and inferred gold resource estimate for Munda at 0.5g/t cut-off grade of 4.481M tonnes at 1.38g/t for 198,700oz gold, and sits within Mining Lease 15/87 which is wholly owned by Auric Mining with Widgie Nickel holding the nickel and lithium rights.

Auric is building on historic exploration and resource drilling at Munda, which have been occurring since the 1960s, the majority of that under the auspices of Western Mining Corporation.

The company’s other most developed interest is at the Jefferys Find Gold Project, which holds a lot of promise with an indicated and inferred gold resource estimate at 0.5g/t cut-off grade of 1.22Mt @ 1.22g/t for 47,900oz gold.

That project sits within Mining Lease 63/242 and Miscellaneous Licence 63/97, both of which are 100% held by Auric Mining through its Jeffreys Find subsidiary.

The project is viewed by Auric as a potential open-pittable toll-treatment operation and there are at least six gold processing plants located within a radius that includes Kalgoorlie and Coolgardie.

Auric also holds the Spargoville Project, comprising title to exploration licences (1 granted and 2 pending) and prospecting licence (2 granted and 1 pending), with demonstrated gold anomalism in the area.

The company also recently completed the first phase of the terms of an option agreement for the acquisition of the Chalice West Project, another project that is highly prospective for gold and other minerals in the Widgiemooltha - Norseman area.

All of this work amounts to a strong asset base for Auric, currently measuring close to 250,000 ounces of JORC compliant gold resource – plus the exploration licences on top of that – is complemented by a well credentialed and lean Board with significant experience developing gold projects both in Australia and globally.

That board includes Non-Executive Chairman Steve Morris, whose more than 20 years’ experience in financial markets has seen him work with a number of high profile Australian businesses, including Patersons Securities and Intersuisse Ltd, and a 5-year stint with on the board at De Grey Mining, from 2014 to 2019.

Alongside Morris is Managing Director Mark English, with more than 40 years of solid business experience under his belt, including being a founding director at Bullion Minerals, and time with IPO (which has since spun out to Chalice Mining and Liontown Resources).

Auric’s Technical Director John Utley is a 35-year veteran in mining and exploration, principally gold assets, around the globe, including in Australia, South America, Papua New Guinea and most recently in Canada where he was Chief Geologist for Atlantic Gold Corporation for over 15 years, including the development of the Touquoy development of the Touquoy gold Mine in Nova Scotia.

KEY INVESTMENT HIGHLIGHTS

JULY 11, 2022: Positive Scoping Study for Jeffreys Find Project. MAY 11, 2022: Exceptional Result – Munda Metallurgical Testwork. JANUARY 28, 2022: Munda Project resource upgraded to 4.481M tonnes at 1.38g/t for 198,700oz Au.