Auric Mining Quarterly Activities Report

Auric Mining Limited (ASX: AWJ) (Auricor the Company) is pleased to report on its activities during the 31 March 2024 Quarter and up to the date of this announcement.

Jeffreys Find Gold Mine

• Stage Two Mining commenced on 10 March 2024 with over 300,000 tonnes of ore to be mined in 2024.
• First toll mining campaign for 2024 is underway at Greenfields Mill, Coolgardie.
• First gold sales expected early May 2024.

Munda Gold Project

• Assay results received for all of the 361 holes drilled in the first Munda 10m X 10m grade control pattern.
• Four contract mining companies have provided pricing estimates for mining and drill and blast services at Munda.
• Metallurgical testwork underway.

Corporate

• 17,493,780 options exercisable at 31 March 2024 were converted in April 2024, being 99% of this class of options on issue.
• The Company received $2,644,067, before costs, in April 2024 from exercise of options.
• Current cash at bank is around $4,100,000.

Managing Director, Mark English said:

"Another excellent quarter for Auric, both from operational and corporate perspectives.

“It was great to recommence mining at Jeffreys Find with BML Ventures Pty Ltd. It’s a terrific time to be mining and producing gold with such a tremendous gold price. We are looking forward to a strong year from mining activities at Jeffreys Find.

“We completed the grade control/resource definition drilling program at Munda in this March quarter. This is another positive step towards development of Munda and whilst there remains a lot to be done, we are still working towards mining commencing in either the last quarter of calendar year 2024 or the first quarter of 2025.

“The completion of the fund raising of the 31 March 2024 options was well received by our shareholders and the shortfall underwriter, with 99% of the total options available being exercised into shares. We now have about $4.1M cash at bank with further cash due from our share of surplus cash from mining at Jeffreys Find, a great place to be,” said Mr English.

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