GORILLA GOLD MINES LTD — Board/Management Information 2021

Jun 8, 2021

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Board Changes & Company Update 1 June 2021

Disclaimer

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Nature of Document: This presentation has been prepared and issued by Orminex (Company) to provide general information about the Company. The information in this document is in summary form and should not be relied upon as a complete and accurate representation of any matters that a reader should consider in evaluating the Company. While management has taken every effort to ensure the accuracy of the material in this presentation, the Company and its advisers have not verified the accuracy or completeness of the material contained in this presentation.

Not an offer: This presentation and its contents are not an invitation, offer, solicitation or recommendation with respect to the purchase or sale of any securities in the Company in any jurisdiction and must not be distributed, transmitted, or viewed by any person in any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction. This presentation is not a prospectus or any other offering document under Australian law (and will not be lodged with the Australian Securities and Investments Commission) or any other law.

Not financial product advice: Neither the Company nor any of its related bodies corporate is licensed to provide financial product advice in respect of the Company's securities or any other financial products. You should not act and refrain from acting in reliance on this presentation. Nothing contained in this presentation constitutes investment, legal, tax or other advice. This presentation does not take into account the individual investment objectives, financial situation and particular needs of Company shareholders. Before making a decision to invest in the Company at any time, you should conduct, with the assistance of your broker or other financial or professional adviser, your own investigation in light of your particular investment needs, objectives and financial circumstances and perform your own analysis of the Company before making any investment decision.

Forward looking statements: This presentation contains forward-looking information about the Company and its operations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", “should”, "could", "estimates", “target”, “likely”, “plan”, "expects", "may", “intend”, "shall", "will", or "would". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements are subject to risk factors associated with the Company’s business, many of which are beyond the control of the Company. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements.

Disclaimer: No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or proved correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisors and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any effort or omission therefrom. The Company will not update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice.

This announcement has been authorised and approved for release by the Board of Orminex.

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Board of Directors – A ointment of Mel Ashton pp

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Orminex Limited (‘Orminex’ or ‘the Company’) wishes to advise that it has appointed Mr Mel Ashton as a Non-Executive Director, effective immediately.

Mr Ashton is an Australian Chartered Accountant who has over 40 years’ experience with significant hands-on experience and leadership roles in multiple industries, including Agriculture, Banking & Finance and Mining & Exploration.

Mr Ashton currently serves as the Non-Executive Chairman of Quintis Sandalwood Pty Ltd, a NonExecutive Director of Aurora Labs Ltd (ASX:A3D) and Non-Executive Chairman of Venture Minerals Ltd (ASX:VMS).

Mr Ashton specialises in helping organisations achieve growth and change in accordance with agreed strategies and plans. Orminex very much looks forward to the expertise Mr Ashton brings to the Company as it embarks on an exciting period of sustainable growth.

Board of Directors – Additional changes

Orminex also wishes to advise that Mr Dean Hely will transition from his current position of Non-Executive Director to Non-Executive Chairman, effective immediately. Joining the Orminex Board in October 2019, Mr Hely is highly motivated to serve the Company in returning to operational status through both organic growth and acquisition activity. Mr Hely is the Managing Partner of West Australian legal firm Lavan, with more than 29 years’ experience working in corporate reconstruction, insolvency and commercial litigation.

Furthermore, Mr Wayne McGrath has resigned from his position of Non-Executive Director, effective immediately. The Board thanks Mr McGrath for his strong contribution and guidance over the past 14 months and wish him all the best in future endeavours. The Wyllie Group, for which Mr McGrath served as Executive Chairman for over 10 years, remain a cornerstone investor and tremendous supporter of Orminex.

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Orminex – An excitin near term old roducer g g p

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Dean Hely – Non Executive Chairman

Mr Hely is the Managing Partner of West Australian legal firm Lavan, with more than 29 years’ experience working in corporate reconstruction, insolvency and commercial litigation.

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Mel Ashton – Non Executive Director

Mr Ashton is an Australian Chartered Accountant who has over 40 years’ experience with significant experience and leadership roles in many industries, including Agriculture, Banking & Finance and Mining & Exploration.

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Michael Foulds – Non Executive Director

Mr Foulds holds a Bachelor of Engineering in Mining Engineering, First Class Mine Manager’s Certificates in both Western Australia and the Republic of Fiji and was the co-founder of contract mining company GBF with Mr Graham.

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Ross Graham – Alternate for Michael Foulds

Mr Graham has over 40 years’ experience in underground mining having commenced as an airleg miner in 1986, with extensive exposure to operations both in Australia and internationally across many commodities, and was the cofounder of contract mining company GBF with Mr Foulds.

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Kelly Moore – Company Secretary

Mrs Moore is a qualified Chartered Accountant, Chartered Company Secretary and Director at Meridian Corporate Consultants, with extensive experience in senior financial and governance advisory roles.

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Matthew Nixon – Chief Operating Officer

Mr Nixon holds a bachelor of Mining Engineering and a WA First Class Mine Manager’s Certificate, with more than 12 years’ experience in successful underground and open pit operations, most recently working as Mining Manager at Northern Star Resources (NST) flagship Jundee Operations.

ASX: ONX

Capital Structure

Ordinary Shares on Issue 547,872,785 Share Price (as at 8 June 2021) $0.05

Market Capitalisation Top 20 Shareholder Ownership

$27.39M 67.16%

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Vision – Unlockin value throu h roven o erational ex ertise g g p p p

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Orminex is an organisation centred on great people producing excellent results, always with integrity

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Passion and dedication to ensuring ‘good mining’ and ‘good business’ go hand in hand

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Acquiring and operating quality gold assets in safe jurisdictions

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Leveraging off demonstrated Team expertise to deliver consistent shareholder value

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Penn ’s Find – Stren thenin for near term roduction y g g p

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• Underground mineral resource of 248,000t @ 7.04g/t for 56,000oz as reported by Empire Resources (ASX: ERL)[1]

• Fully permitted 50/50 Joint Venture with Horizon Minerals Ltd, with Golden Mile toll milling agreement in place at Lakewood facility

• 4.8km drilling program completed in March quarter

• Multiple significant intercepts[2] delivered, including:

• 5m @ 5.27g/t gold from 180.3m in P1_010

• o 3.7m @ 7.46g/t gold from 215.3m in P1_005

o 2.7m @ 8.46g/t gold from 171.4m and 1.7m @ 17.91g/t gold from 178.9m in P1_007

• Pit dewatering contract awarded, commencing June 2021

• Updated geological model delivery expected June 2021

• Entech engaged to complete final mining study, to be delivered in second half of 2021 and followed by subsequent decision to mine

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1. Refer to ERL ASX announcement dated 13 December 2017, there have been no material changes from the date of this release

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1. Refer to ONX ASX announcement 14 April 2021

Comet Vale – On oin review of stron old mineralisation s stem g g g g y

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• Orminex conducted underground mining activities beneath the existing Sand Queen historical workings between 2018 - 2020

• ONX 51/49 Joint Venture with Sand Queen Gold Mines Pty Ltd

• Toll treatment parcel #9 in July 2020 delivered 5,254oz of gold from 33,552t @ 5.09g/t and 96% recovery

• Mine currently under care and maintenance to enable thorough geological review of what remains a highly prospective area, possessing multiple deposits of typical Archaean narrow, highgrade gold quarts lodes within a shear hosted system

• Independent geologist and mineral valuation expert engaged for review

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Golden Lode – Excitin tenements in the Dav hurst old district g y g

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• 8,561m of historical diamond drilling completed from 113 holes across the Golden Lode Project area testing mineralisation to a maximum depth of 285m downhole

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• Historical workings (1989 1990) involved sinking of 97m twin compartment shaft and development of two levels 46m and 91m below surface

• Treatment of 10,297t @ 8.86g/t completed in 1990

• Independent mineralisation report indicates further soil sampling and potential subsequent infill drilling required to progress to 2012 JORC compliant resource

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Strate ic Growth – Identif in value accretive ac uisition o ortunities g y g q pp

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• Orminex seeking to maximise leverage from strong, proven underground mining expertise within the Company via acquisition of existing, or near term producing, gold mines in safe jurisdictions

• Due diligence and valuation assessment ongoing for potential acquisition of economic interests in epithermal gold project in Indonesia[1]

• Belief in significant opportunities for Orminex in Tier-1 jurisdictions of North America and Canada to utilise demonstrated skillset of unlocking value from high grade gold mines where previous or existing owners have encountered difficulty

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• The Abitibi Greenstone Belt straddling the Ontario and Quebec border in Canada identified as one such area of over prospective opportunity, having produced

• 200Moz since 1901 and ~$12B in merger and acquisition activity since 2013

• Orminex has commenced discussions with the key stakeholders of a number of strategic gold projects in the Abitibi region of the Province of Quebec, which align with the Company’s strategic acquisition profile

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1. Refer to ONX ASX announcement 31 May 2021

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A: Suite 5, Level 1, 460 Roberts Road, SUBIACO WA 6008

P: PO Box 1473, SUBIACO WA 6904

PH: +61 8 6149 1550

e: admin@orminex.com.au www.orminex.com.au ACN: 008 740 672 ABN: 45 008 740 672

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