ORA BANDA MINING LTD — Capital/Financing Update 2016

Feb 15, 2016

ASX ANNOUNCEMENT

16 FEBRUARY 2016

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ASX WAIVER FROM LISTING RULE 14.7

Eastern Goldfields Limited ( Eastern Goldfields or the Company ) (ASX:EGS) advises that ASX Limited ( ASX ) has granted the Company a waiver from Listing Rule 14.7 to the extent necessary to permit the Company to issue up to 170,132,823 fully paid ordinary shares to related parties (Related Party Shares) as approved by shareholders at the general meeting held on 30 December 2015, later than 1 month after the date of the shareholder approval on the following conditions:

• The Related Party Shares must be issued no later than 24 March 2016 and otherwise on the same terms as approved by shareholders on 30 December 2015;

• The terms of the waiver must be released to the market immediately.

For further information please contact:

Michael Fotios Executive Chairman T: +61 8 6241 1888 E: michael@deltaman.com.au

Michael Jardine General Manager Corporate & Investor Relations T: +61 424 615047

E: michael.jardine@deltaman.com.au

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