ORA BANDA MINING LTD — Capital/Financing Update 2018

Aug 23, 2018

ASX ANNOUNCEMENT 24 AUGUST 2018

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Revised Standstill Agreement in relation to Syndicated Facilities Agreement

Eastern Goldfields Limited (ASX: EGS) ( Eastern Goldfields or the Company ) refers to the previous announcements regarding its syndicated facilities agreement with Investec Australia Limited ( Investec ) ( Syndicated Facilities Agreement ), together with the following announcements:

• Announcement dated 7 August 2018 – Standstill in relation to Syndicated Facilities Agreement ( Standstill Agreement ); and

• Announcement dated 14 August 2018 – Revised Standstill Agreement ( Revised Standstill Agreement ).

Under the terms of the Revised Standstill Agreement, the full repayment of the Syndicated Facilities Agreement was required to be made on or before 22 August 2018 under the Revised Standstill Agreement ( Repayment ).

The Company has agreed revised standstill arrangements with Investec, pursuant to which the date to make the Repayment is extended to 30 August 2018 ( Extension to Revised Standstill Agreement ).

Other than, as set out above, the terms of the Revised Standstill Agreement remain in effect.

If the Company is unable to comply with the conditions of the Revised Standstill Agreement, Investec could enforce its default rights under the Syndicated Facility Agreement, which could have a material adverse effect on the Company’s activities and financial condition.

Enquiries

Michael Fotios Executive Chairman

T: +61 8 6241 1866 E : admin@easterngoldfields.com.au

017-8294-9603/1/AUSTRALIA