ORA BANDA MINING LTD — Capital/Financing Update 2017

Jul 24, 2017

ASX ANNOUNCEMENT 25 JULY 2017

FIRST GOLD POUR COMPLETED AT DAVYHURST MILL

EASTERN GOLDFIELDS BECOMES AUSTRALIA’S NEWEST GOLD PRODUCER

HIGHLIGHTS

 First gold poured from gravity circuit at Davyhurst Mill  Leach and CIP circuits filled, slurry density optimised  Gravity and CIP circuit gold pour expected Thursday

Eastern Goldfields Limited (ASX:EGS) (“Eastern Goldfields” or “the Company”) is pleased to announce that the first gold pour has been completed at the recently commissioned Davyhurst Mill, which is located within the Davyhurst Mining Hub, approximately 120 kilometres North West of Kalgoorlie.

This represents a significant milestone for the Company as it is the first on site gold production at Davyhurst since 2008 and highlights the achievements of all involved in making Eastern Goldfields, Australia’s newest gold producer. The CIP circuit will now have cyanide added to it as well as the loading of carbon. The leach circuit will also have cyanide added to it and heating has commenced of the CIP elution circuit. The first gold pour from the CIP circuit is expected to occur this Thursday.

ISSUED CAPITAL

Shares: 560.4m Options: 58m Current Share Price: $0.315 Market Capitalisation: $176.5m Cash as at 31/03/2017: $551,000*

*Excluding total debt facilities of $35.0m, see ASX announcement 31 Jan 2017. Drawn to date $15.0m.

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Figure 1: Gravity gold pour

Eastern Goldfields Chairman, Michael Fotios stated:

“We are delighted to report the completion of the first gold pour at our Davyhurst processing facility. This is a very significant step in our journey and underlines the hard work done by all involved in this project. Mining operations continue to progress well, building a substantial supply of low-to-medium grade ore ready to support the ramp-up in production.”

Investor Enquiries

Michael Fotios Executive Chairman T: +61 8 6241 1866 E : admin@easterngoldfields.com.au

Jon Snowball FTI Consulting T: +61 477 946 068 E: jon.snowball@fticonsulting.com

Forward Looking Statements

Eastern Goldfields Limited has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this announcement. To the maximum extent permitted by law, none of Eastern Goldfields Limited, its directors, employees or agents, advisers, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it. This announcement is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any security, and neither this announcement nor anything in it shall form the basis of any contract or commitment whatsoever. This announcement may contain forward looking statements that are subject to risk factors associated with gold exploration, mining and production businesses. 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, including but not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve estimations, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory changes, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates.