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WOOMERA MINING LIMITED (WML) RTO / Public Offering of up to A$7,000,000

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WOOMERA MINING LIMITED (WML) RTO / Public Offering of up to A$7,000,000 WOOMERA MINING LIMITED (WML) RTO / Public Offering of up to A$7,000,000 On 8 January 2018 Ausroc Metals Ltd (to be renamed “Woomera Mining Ltd”) lodged a Prospectus at ASIC. The Prospectus contains a General Offer (offer to the public) and Vendor Offer. The General Offer is now open and is up to 35 million fully paid ordinary shares at A$0.20 per share; with total funds to be raised being up to A$7,000,000. WML have engaged Sequoia Financial Group (“Sequoia”) and Adelaide Equity Partners (“AEP”) to act as joint managers. This document outlines the terms of the Public Offering. Sequoia and AEP make no representation, warranty nor accepts responsibility for the accuracy or completeness of any information contained herein. TRANSACTION SUMMARY CORPORATE SNAPSHOT & PROPOSED IPO STRUCTURE AusROC Metals Ltd (“ARC”) to be renamed Current ARC Shares on Issue 17,763,374 Issuer Woomera Mining Ltd (“WML” or “Company”) No. Shares to be Issued to WML 68,259,459 Shareholders Transaction Public Offering via RTO/Backdoor Listing Funds to be Raised Price @ $0.20 A$4m | A$7m Security Fully Paid Ordinary Shares in WML (min. | max.) IPO Shares issued (min. | max.) 20m | 35m Ranking Pari passu with existing ordinary shares on issue Scrip consideration issued for 6.25 million Offer Price A$0.20 per share acquisition of Lithium Assets Total Number of Shares post-IPO 112,272,833 | 127,272,833 Offer Amount A$4 million – A$7 million (min. | max.) Market Cap. upon listing @ $0.20 A$22m | A$25m Offer Size 20m – 35m Shares (min. | max.) INVESTMENT OVERVIEW – DIVERSIFIED EXPLORER FOR HIGH DEMAND PRODUCTS LITHIUM, COBALT AND GOLD • Strategic position in the Pilbara region of Western Australia immediately adjacent to some of Australia’s most successful lithium and gold explorers • Five priority Lithium exploration tenements situated in the Pilgangoora and Mt Cattlin regions in WA demonstrating abundant pegmatite mineralisation for immediate testing • Pilbara based Pilgangoora tenements are also highly prospective for conglomerate-hosted gold with all adjoining neighbours reporting positive gold results • WML holds 5,584km2 of highly prospective assets within the Gawler Craton and Musgrave Provinces, South Australia • Binding Heads of Agreement executed with Oz Minerals to develop its Musgrave assets via a Farm-in and JV arrangement. WML’s Musgrave assets include numerous drill-ready Cobalt and Nickel-Copper tenements • WPA Gawler Craton tenements play host to some of the World’s most successful mineral deposits (Olympic Dam, Carrapateena & Prominent Hill) – land ownership dominated by some of the world’s largest mining companies WEST AUSTRALIAN PROJECT TENEMENTS • 10 lithium tenements – 5 prospective for hard rock lithium covering the Pilgangoora area of the Pilbara and at Mt Cattlin near Ravensthorpe and 5 salt lake projects in SE-Yilgarn prospective for lithium brines • Pilbara tenements within the Pilgangoora Province – which hosts proven lithium resources as spodumene-bearing pegmatites • Pilbara tenements lie within same granitoid complex as Pilbara Minerals’ (ASX:PLS) Pilgangoora Lithium project - one of the worlds largest with Lithium Resources with 156.3Mt @ 1.25%Li20 • WML to capitalise on recent Pilbara gold and lithium exploration activities which has further stimulated investor interest in the region • Northern tenements are on a highly fractured NE trending structural corridor and monzogranites have locally abundant pegmatites • Southern tenement on the edge of the east Pilbara granite greenstone terrane, known for rare-earth mineralised pegmatites • Mt. Cattlin tenements, also prospective for hard rock lithium, lie within same volcanic province as Mt Cattlin mine, operated by Galaxy Resources’ (ASX:GXY) with has a resource of 16Mt @ 1.08% Li2O • Salt lake targets include Lakes Sharpe, Dundas, Cowan, Dumbleyung & Peak Charles - identified by Geoscience Australia for their high concentrations of Lithium in brine SOUTH AUSTRALIAN PROJECTS – WORLD CLASS GAWLER CRATON & MUSGRAVE PROVINCE Musgrave Projects • JV / Farmin agreement in place with OZ Minerals • Four tenements covering 3,058 km2 - prospective for nickel, copper and cobalt, gold, silver-lead-zinc, platinum group elements (PGE) and rare earths • 12 exploration drill targets identified based on historic geophysical and geochemical data • Strong evidence of extensive Giles Complex ultramafic intrusives with excellent potential for Ni, Cu, Co, Cr, Au and PGE deposits • Initially, seven targets to be drilled as part of the OZ Minerals Joint Venture • Woomera earns an 8% management fee (payable by OZ) Gawler Craton Projects • Five tenements covering 2,526km2 across the Gawler Craton region in South Australia • The land in this region is tightly held with ownership dominated by some of the world’s largest mining companies including BHP Billiton, Rio Tinto, Fortescue, OZ Minerals • A number of drill-ready Cu-Co and Au-Ag targets have been identified from historical geophysical and geochemical data • Drill ready targets in close proximity to road and rail infrastructure • Digital datasets have been compiled and exploration programs are ready for commencement BOARD & MANAGEMENT Neville Martin: Non-executive Chairman Former partner (now consultant) with law firm Minter Ellison with over 40 years experience in corporate, mining, and oil & gas law. Currently a director of Sundance Energy Australia Ltd, former Chairman of Adelaide Energy Ltd & former director of ASX listed Austin Exploration Ltd. Gerard Anderson: Managing Director Well-regarded figure within the Australian resources sector. Previously a geologist with in excess of 42 years experience in exploration, mining operations and resource geology across iron ore, gold and base metals projects. More recently, Managing Director at Archer Exploration Ltd (AXE.ASX) and former Managing Director of Centrex Metals Ltd (CXM.ASX). Former Exploration Superintendent Boddington Gold Mine, Chief Geologist Bronzewing Gold Mine, Chief Geologist Kalgoorlie Consolidated Gold Mines, GM Golden Grove Operations, and GM Newmont Joint Ventures. Gerard also has a post graduate degree in Business and a Masters in Mineral Economics. David Lindh: Non-executive Director Consults across corporate & commercial matters with >40 years’ experience as a lawyer & company director. Former Chairman Centrex Metals Ltd & director of ETSA Corporation, Electranet & ASX-listed Enterprise Energy. Former State Chairman of Taxation Institute of Aust. Don Triggs: Executive Director Don has in excess of 30 years experience consulting across resource, utilities, and IT sectors. Previous clients have included CRA/Rio Tinto, Normandy, MIM, Xstrata, Optima Energy, Telstra, Santos, New Hampton Goldfields and Mineral Deposits Limited. Former GM of Primary Resources Ltd (ASX:PRZ). Significant experience in the Pilbarra region and in northern South Australia. WML SIGNIFICANT SHAREHOLDERS OWNERSHIP (%) KEY DATES (INDICATIVE / SUBJECT TO CONDITIONS) Davan Nominees 24.7 8 Jan 2018 – Prospectus Lodgement & General Offer Open Neville Martin 17.1 15 Feb 2018 – Closing Date for General Offer Don Triggs 12.1 Ballimore Exploration Pty Ltd 11.3 19 Feb 2018 – DvP Settlement Adelaide Equity Partners Ltd 10.1 23 Feb 2018 – if satisfaction of Conditions, Issue of New Shares Marcus La Vincente 4.3 1 Mar 2018 – anticipated recommencement of trading Gerard Anderson 2.0 USE OF FUNDS CONTACTS Exploration programs (~43%), acquisition costs (~7%), Matthew Lindh – Sequoia (Lead Manager) corporate overheads (~20%), working capital (~17%) and + 61 432 363 933 | [email protected] listing costs (~13%). Duncan Gordon – AEP (Corporate Advisor) [Note: expenditure on the Musgrave Projects will be made by Oz Minerals in accordance with the JV / Farmin agreement] +61 404 006 444 | [email protected] DISCLAIMER: This term sheet is not a Prospectus, an offer of securities, a securities recommendation nor financial product advice. The information contained in this Term Sheet is indicative and is a summary only of the Ausroc Metals Ltd Prospectus dated 8 January 2018 (“Prospectus”). Applications for the shares referred to in this Term Sheet can only be made on an application form that accompanies a complete unaltered, hard copy or electronic version of the Prospectus. You should read the whole Prospectus and consult your accountant, financial adviser, or other professional adviser before deciding whether to invest. This document may include forward-looking statements such as statements concerning WML’s planned mining and exploration programs and other statements that are not historical facts. Although WML believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. DISCLOSURE: Sequoia and AEP are receiving fees for this transaction as set out in Section 17.1 of the Prospectus. APPENDIX A – INDUSTRY OVERVIEW Cobalt - Lithium There are three types of cobalt based battery technologies: • Lithium Cobalt Oxide (60% Co) predominantly used in mobile phones, tablets, laptops and cameras • Lithium Nickel Manganese Cobalt Oxide (15% Co) predominantly used in electric bikes, medical devices, electric vehicles and industrial applications • Lithium Nickle Cobalt Aluminium Oxide (9% Co) predominantly used in Tesla motor vehicles, medical devices and industrial and electric powertrain Cobalt based batteries continue to dominate the global
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