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NZX Announcement: Aorere NTA/share 0.91 cents

24 November 2014

Share price movements in AIM listed Mosman Oil and Gas and NZAX listed Chatham Rock Phosphate continue to significantly influence Aorere’s net asset value.

Our Mosman shareholding now has a present market value of NZD 2.8 million, based on the present market price of 13.75 pence.

Our Chatham Rock Phosphate holding is worth NZD 2.7 million at its present market price of 14.8 cents.

Aorere’s listed market value at 0.7 cents is NZD 4.5 million, and total net assets NZD 5.9 million. The undiluted net asset backing of an Aorere share (including all significant portfolio assets at market value) is now 0.91 cents.

The table below details the present market value of the various components of the portfolio.

Regards,

Chris Castle, Managing Director

Aorere Resources Ltd