ORA BANDA MINING LTD — Investor Presentation 2016

Aug 17, 2016

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US Institutional Roadshow

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– Michael Fotios Executive Chairman

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Competent Persons Statement

• The information in this report that relates to Exploration Results and Exploration Targets is based on information compiled by Mr Michael Thomson, an employee of Eastern Goldfields Limited, who is a Member of the Australian Institute of Mining and Metallurgy. Mr Thomson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Thomson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

• The information in this presentation that relates to Mineral Resources is based on, and fairly represents, information and supporting documentation compiled by or under the supervision of Mr Michael Thomson, a Competent Person who is a member of the Australasian Institute of Mining and Metallurgy, a ‘Recognised Professional Organisation’ (‘RPO’) included in a list that is posted on the ASX website from time to time. Mr Thomson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 and 2012 Editions of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Eastern Goldfields Limited confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources, all material assumptions and technical parameters underpinning the estimates in the initial announcement continue to apply and have not materially changed. Eastern Goldfields Limited confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

• The information in the presentation is extracted from the report entitled “Presentation” created on 28 January 2016 and is available to view on www.asx.com.au. Eastern Goldfields Limited confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, all material assumptions and technical parameters underpinning the estimates in the January 28 announcement continue to apply and have not materially changed. Eastern Goldfields Limited confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

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. Eastern Goldfields Limited undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events other than required by the Corporations Act and ASX Listing Rules. Accordingly you should not place undue reliance on any forward looking statement.

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Investment Highlights

1

• AUD $27.5m raised in early 2016 at $0.15 per share

• Turnaround complete • Company debt free • Well funded to rapidly advance clear development program

2

• Resource base of 1.5Moz at an average grade of 2.5 g/t[1]

• • Strong potential for near mine increase in resource ounces; supported by recent drilling

• 1.5M oz Resource Base announcements

• • Multiple high grade underground targets

• Key infrastructure already in place – replacement value approximately $120m;

• 3 Low capex, substantial refurbishment cost $15-17m (see slide 11)

• cash flow opportunity • On track for restart of production in December quarter 2016 • No significant regional drilling undertaken in last 20 years outside boundaries of historical resources

• 4 Exploration upside

  • No significant regional drilling undertaken in last 20 years outside boundaries of historical resources

  • • Approximately 170km strike length in total; significant organic growth potential on 1,050 km[2] tenements

Exploration upside

1. This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

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Corporate Overview

ASX Code	ASX Code	EGS	EGS	EGS
Issued Capital		Shares	489,531,151
Share Price		Current	$0.51
Market Capitalisation			$249.6m
Cash in bank		Current balance	$15.5m
Cash at bank figure as at 30 June 2016, share price current at 12 August 2016 Board Michael Fotios, Executive Chairman Alan Still, Non-Executive Director Craig Readhead, Non-Executive Director Shareholders Board & Management 39% Institutional Investors 25% High Net Worths 20% Other 16%
Board	Michael Fotios, Executive Chairman
	Alan Still, Non-Executive Director
	Craig Readhead, Non-Executive Director
Shareholders	Board & Management			39%
	Institutional Investors			25%
	High Net Worths			20%
	Other			16%

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Project Overview

• Very large total ground holding, contains multiple mining centres:

• Davyhurst (LOI)

• Siberia

• Callion

• Waihi

• Mulline/Riverina

• Mt Ida

• Each centre hosts multiple o/p and u/g opportunities (Mt Ida u/g only)

• Near term production ounces sourced from Davyhurst, Siberia and Callion

• Aggregation of 5 former stand alone projects

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Indicative only: EGS tenement position compared to neighbouring holdings.

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Dual Hub Approach

Priority #1

Davyhurst Hub – current resource

18.6Mt @ 2.3 g/t

• Large existing resource base

• Substantial production infrastructure

• Significant number of exploration opportunities

Priority #2

Mt Ida Hub – current resource 317kt @ 13.8 g/t

• High grade, low tonnage (e.g. Andy Well, Paulsens)

• Potential for stand alone operation

• Historic production: +500kt @ +15 g/t Au

• Drilling commenced June 2016

• Feasibility Study 2017

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Note: Lady Ida tenements awaiting final decision in Wardens Court.

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Project Development Timeline

	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Capital raise close; reinstatement to ASX
Resource Development
Release of historic drilling results (by mining centre)
Reserve definition drilling on near mine ounces
Resource extension drilling
Regional Exploration
Mapping, soil geochem, 3D modelling, geophysics
Processing Plant Refurbishment
GR Engineering engaged
Non processing infrastructure renewal/replacement
Processing plant upgrades and updates
Commencement mining at LOI, Sand King, Missouri, GE
Commissioning of processing plant
Commencement of processing

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Recent rate of drilling announcements expected to continue over coming months

Date	Mining Centre	Commentary
5 May 2016	Davyhurst	“Initial drilling results from Davyhurst highlight potential”
19 May 2016	Davyhurst	“Results from Golden Eagle delivers near term mining target”
26 May 2016	Davyhurst	“Initial drill results define potential at Dexy Prospect”
14 June 2016	Siberia	“$2.5m resource drilling program commences at Siberia”
15 June 2016	Davyhurst	“Drill results define potential at Walhalla North Prospect”
18 July 2016	Davyhurst	“Drill results demonstrate potential at Walhalla North”
28 July 2016	Callion	“Diamond drilling intersects significant mineralisation at Callion”
29 July 2016	Mt Ida	“Encouraging drill results at Bombay Prospect”
10 Aug 2016	Davyhurst	“LOI Complex drilling results confirm mineralisation”

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Resource Development Program

• Drill out of near mine ounces

• $3m committed

• May to Aug 2016, current proposed mine schedule

• Aug to Dec 2016, resource extensions

• Focus on:

1. Sandking

2. Missouri

3. LOI (Makai)

4. Callion

5. Riverina

• Intended outcomes

• JORC 12 compliance

• Publish mining study (Aug 16)

• Resource additions

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Exploration: Regional Reconnaissance Program

• Objectives – generate new discoveries within the belt

• Method – generate regional consistent datasets for:

• 1:10,000 or 1:5,000 detailed geological outcrop mapping

• Regional advanced 3D modelling where appropriate

• Soil Geochemistry – auger drilling targeting the calcareous horizon (best gold response) aimed at regenerating regionally consistent dataset

• Detailed air magnetic survey

• This process has already commenced:

• Detailed geological outcrop mapping – Siberia, Davyhurst 

• Regional advanced 3D modelling – Siberia 

• Soil Geochemistry – Mulline 

• Ongoing budget commitment of approximately $1m per year already underway

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Processing Plant Refurbishment – Commenced May 16

Site Services ($1m)

• Camp, potable water, communications and IT

• Completed June 2016

Plant Refurbishment ($1m)

• Steel / concrete refurbishment

• Cost $1m

Plant Upgrade ($13m) – GR Engineering

• New gravity circuit & tailings thickener, plus overhaul of existing processing infrastructure

Plant Power & Water ($2m)

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EGS mid tier vs. ASX listed gold peers

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Source: Hartleys Limited, July 2016

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APPENDIX

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Davyhurst & Waihi Mining Centres

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Davyhurst & Waihi

• New geological models for mineralisaton being developed – focus on LOI complex & Waihi Lode System

• Underground evaluation work looks to the system rather than individual lodes

• LOI Complex - multiple ore sources with shared existing capital infrastructure

• Waihi Lode System - multiple ore sources of shared planned capital infrastructure

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Lights Of Israel (LOI) Complex – 3D View

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LOI Complex Exploration Target
2.8 – 3.0 Mt @ 3.9 - 4.3g/t Au
Approximate Past Production
LOI Open Pit: 1.8Mt @ 2.67g/t for 155,000
Ounces
LOI UG 2.2Mt @ 3.5g/t for 245,000
ounces
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Note: The potential quantity and grade of the Exploration Targets are conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource. Note: Refer to ASX announcements dated 28 January 2016 and 10 August 2016 for further information .

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LOI Mining Centre Exploration Targets – Additional Information

The Exploration Targets are based upon a comprehensive geological and mineralisation review conducted by Eastern Goldfields Limited. This modelling utilised a combination of exploration drilling data, underground sampling along with detailed geologic observations. A high proportion of the LOI deposit was drilled with diamond core and as such there has been significant data available to compile geologic models and justify the projection of mineralisation down plunge.

Historical survey, geology and assay records reviewed, validated and were utilised to create a 3-dimensional geological and mineralisation model. RC drill diameter was 5 ½ inch and diamond core size was NQ. RC drill sample were collected at 1m intervals and diamond core was cut to geological intervals. Assay methods of drill hole samples was by aqua regia or fire assay using accredited laboratories.

The grades of these exploration targets has been assigned by detailed assessment of previous production from the Lights Of Israel and Great Ophia Deposits along with detailed statistical modelling ( ID2 and Ordinary Kriging) of sample grades from within the mineralised systems. In areas where there is little or no existing data the grade has been derived from the geological investigations into continuity of existing mineralisation and geology (projecting down plunge) and are conceptual in nature with confirmatory RC and DD drilling required to validate these targets which is scheduled for completion in 2016. Samples will be submitted to accredited laboratories for gold assay (fire assay) with a full suite of QAQC samples (blanks, standards and field duplicates).

Planned Exploration work:

In the short term (2016) Eastern Goldfields Limited plans to drill RC and diamond holes to evaluate the geology, grade and width of the target. Drilling will target remnant pillars and areas below current mining depths. Samples will be submitted to accredited laboratories for gold assay with a full suite of QAQC samples (blanks, standards and field duplicates). If this drill program is deemed successful a geological and resource model will be produced. The resource model will be classified as inferred/indicated as deemed appropriate.

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LOI Complex – New Drilling Location

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• Results from Lights of Israel Complex confirm gold mineralisation at Makai and Great Ophir, enhancing underground mining opportunities

• LOI Complex located within 1 kilometre of the Davyhurst processing plant

• Significant drilling results

• 5.5m @ 5.95g/t Au from 122.2m

• 7.0m @ 4.05g/t Au from 218.0m, including 4.3m @ 5.90g/t Au

• 7.0m @ 3.60g/t Au from 134.0m, including 2.1m @ 7.98g/t Au

Note: Results released in ASX announcement dated 10 August 2016

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Makai Schematic Long Section looking East

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Note: Results released in ASX announcement dated 10 August 2016

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Davyhurst - Dexy Prospect

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• Encouraging drilling results returned at the Dexy Prospect:

5.00m @ 11.04g/t Au from 65.00m 8.00m @ 2.94g/t Au from 35.00m 6.00m @ 3.08g/t Au from 12.00m 2.00m @ 5.45g/t Au from 20.00m

• Dexy mineralisation has been defined over a strike length of greater than 300 metres, while the structure itself remains open to the north and south and is prospective for over 500 metres

• Further infill and extensional drilling planned

Plan View – Showing hole positions and historical open pit

Note: Results released in ASX announcement dated 26 May 2016

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Davyhurst - Dexy Prospect

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Dexy Prospect Location Plan

Dexy overview plan

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Davyhurst - Dexy Prospect

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Looking North – Oblique Section 6673700N showing mineralised trend

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Looking North – Oblique Section 6673725N showing mineralised trend

Note: Results released in ASX announcement dated 26 May 2016

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Walhalla North Prospect

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• Encouraging gold results from diamond drilling.

• • Results confirm the presence of significant mineralisation identified by recent RC drilling.

• • Potential to provide near term oxide mill feed.

• • Significant drilling results: • 3.30m @ 5.96g/t Au, including 0.50m @ 30.29g/t Au

• • 9.80m @ 5.57g/t Au, including 0.80m @ 44.10g/t Au &

• 0.70m @ 17.36g/t Au • 25.60m @ 1.57g/t Au including 0.70m @ 12.00g/t Au

• • 7.00m @ 3.70g/t Au from 98.00m

Note: Results released in ASX announcement dated 15 June 2016 and 18 July 2016

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Walhalla North Prospect

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Location Setting, plan view - showing WNP in relation to the Round Dam mineralised trend

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Plan View – drill hole location plan –

Note: Results released in ASX announcements dated 15 June 2016 and 18 July 2016

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Walhalla North Prospect

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Cross section A-B - Previous results released 15 June 2016

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Cross section C-D - Previous results released 15 June 2016

Note: Results released in ASX announcements dated 15 June 2016 and 18 July 2016

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Walhalla North Prospect

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Cross section E-F -

Note: Results released in ASX announcements dated 15 June 2016 and 18 July 2016

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Callion Location

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Callion Mining Centre

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• Historic high grade underground producer

• Recent drilling confirms underground mining potential

• Significant new drilling results

• 7.65m @ 9.35g/t Au from 232.05m

- Including 2.45m @ 20.67g/t Au (Main Lode)

& 2.90m @ 6.35g/t Au

0.30m @ 19.97g/t Au from 191.75m (Hanging Wall Lode)

• 0.45m @ 8.78g/t Au from 250.45m (Hanging Wall Lode)

• Exploration potential

• Down plunge continuations

• Parallel lode structures

• Repetitions along strike

Note: Results released in ASX announcement dated 28 July 2016

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Callion

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Callion Cross section 6665360mN, looking NNW showing recent drill results

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Callion plan view showing drill hole locations and open pit

Note: Results released in ASX announcement dated 28 July 2016

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Callion

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Note: The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource. Refer to slide 29: Callion Exploration target – Additional Information

Note: Drill results released to ASX on 29 August 2014 and 28 July 2016.

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Callion Exploration Target - Additional Information

Basis for the Callion Exploration Target:

The Exploration Targets were calculated using historic data that was collated by Eastern Goldfields Limited. The data consisted principally of channel sample assays and ore thicknesses and RC and diamond drill intersections. Lubbock compiled these data into mine blocks with associated grades and tonnages. Historical survey, geology and assay records were used to create a 3-dimensional model of the underground workings. The channel samples were collected across the width of the drive and/or stope face, generally perpendicular to the strike of the structure that controls mineralisation. Sample and assay methods of underground channel samples is unknown. RC drill sample were collected at 1m intervals and diamond core was cut to geological intervals. Assay methods of drillhole samples was by aqua regia or fire assay using accredited laboratories. In total, there are 1608 stope samples, 947 face samples and 13 drill hole samples used within the area of calculated Exploration Target.

Techniques for Calculating the Grade and Tonnage Ranges for the Callion Exploration Target:

Hard copy survey and geology plans and long sections were digitised and registered in 3-dimensional space. A 3- dimensional model of the ore zones was constructed from the registered plans and drillhole data. Gold assay grades and widths were digitised from the plans. Due to the narrow and variable width of the orebody the estimation was based on an accumulation method. The accumulation varible (GramMetres = Width*Au Grade) and the Width were estimated (Ordinary Kriging) into a block model. The grade was back-calculated by dividing the estimated GramMetres by the estimated Width. A specific gravity of 2.7 t/m3 for fresh rock was applied based on 22 core samples.

Planned Exploration work:

In the short term (2016) Eastern Goldfields Limited plans to drill RC and diamond holes to evaluate the geology, grade and width of the target. Drilling will target remnant pillars and areas below current mining depths. Samples will be submitted to accredited laboratories for gold assay with a full suite of QAQC samples (blanks, standards and field duplicates). If this drill program is deemed successful a geological and resource model will be produced. The resource model will be classified as inferred/indicated as deemed appropriate.

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Riverina & Mulline

• Shear hosted vein sets in Basalts and Porphyries, past production approx. 290,000 ozs

• Lady Gladys largest historical producer in the field; comprises multiple vein sets

• Company has identified similar prospectivity at Peach Tree, Lady Jane North

• Multiple geochemical and drill targets defined; POWs approved for drill testing

• Giles – a single point soil anomaly under cover

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Riverina & Mulline Section Locations

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A
C
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Lady Gladys & Peachtree Exploration Prospect

Note: Drill results previously released to ASX in “Updated Corporate Presentation“ on 29 August 2014. 34

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Riverina Main Lode Long Section Looking East

E

Note: Drill results previously released to ASX in “Updated Corporate Presentation“ on 29 August 2014.

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Siberia Mining Centre

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Siberia

• Sulphide shears within Basalt on Ultramafic contact, past production approx. 110,000 ozs

• Sand King and Missouri deposits major producers in district

• Recent pit mapping has defined mineralisation controls within open cuts and regional setting

• Exploration for similar settings along 15km strike of Siberia Trend at Bonnie Doon, Siberia Consols

• Theil Well Trend considered highly prospective

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Siberia – Sand King to Black Rabbit

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Note: Drill results previously released to ASX in “Updated Corporate Presentation“ on 29 August 2014.

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Mt Ida

• Gabbro and Basalt shear hosted systems past production approx. 300,000 ozs

• High grade existing resource: 317kt @ 13.8g/t

• Multiple advanced gold targets present in high grade system

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Mt Ida

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Note: Refer to ASX announcement dated 28 January 2016 for further information

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Mt Ida – Bombay Prospect

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• Located 7 kilometres north-west of the Mt Ida Mine on the Timoni Trend

• Drilling confirms Mt Ida Mine style mineralisation at the Bombay Prospect

• Results highlight the potential to delineate further high grade mineralisation

• 4.00m @ 4.95g/t Au from 6.70m; including 1.00m @ 12.58g/t Au

• 1.75m @ 3.52g/t Au from 128.60m

Location setting, plan view - showing Bombay in relation to the Timoni mineralised trend

Note: Results released in ASX announcement dated 29 July 2016

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Mt Ida – Bombay Prospect

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Plan View – drill hole location plan

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Bombay Cross section 6783450mN

Note: Results released in ASX announcement dated 29 July 2016

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Mineral Resources Table

PROJECT	('000t) (g/t Au) MEASURED	('000t) (g/t Au) MEASURED	INDICATED	INDICATED	INFERRED	INFERRED	('000t) (g/t Au) ('000oz.) TOTAL MATERIAL	('000t) (g/t Au) ('000oz.) TOTAL MATERIAL	('000t) (g/t Au) ('000oz.) TOTAL MATERIAL
		(g/t Au)	('000t)	(g/t Au)	('000t)	(g/t Au)	('000t)	(g/t Au)
GOLDEN EAGLE	0	0.0	345	2.5	311	2.6	656	2.5	54
LIGHTS OF ISRAEL UNDERGROUND	0	0.0	74	4.3	180	4.2	254	4.2	35
MAKAI SHOOT	0	0.0	1,985	2.0	153	1.7	2,138	2.0	136
WAIHI	0	0.0	805	2.4	109	2.4	914	2.4	71
Central Davyhurst Subtotal	0	0.0	3,200	2.2	800	2.6	4,000	2.3	300
LADY GLADYS	0	0.0	1,858	1.9	190	2.4	2,048	1.9	128
RIVERINA AREA	0	0.0	941	2.4	1,644	2.5	2,585	2.5	205
FOREHAND	0	0.0	386	1.7	436	1.9	822	1.8	48
SILVER TONGUE	0	0.0	155	2.7	19	1.3	174	2.5	14
Mulline Subtotal	0	0.0	3,300	2.1	2,300	2.4	5,600	2.2	390
SAND KING	0	0.0	516	3.1	935	3.0	1,451	3.0	142
MISSOURI	98	1.7	831	2.0	909	2.2	1,838	2.1	123
PALMERSTON/CAMPERDOWN	0	0.0	118	2.3	174	2.4	292	2.4	22
BERWICK MOREING	0	0.0	0	0.0	50	2.3	50	2.3	4
BLACK RABBIT	0	0.0	0	0.0	434	3.5	434	3.5	49
THIEL WELL	0	0.0	0	0.0	18	6.0	18	6.0	3
Siberia Subtotal	98	1.7	1,500	2.4	2,500	2.8	4,100	2.6	340
CALLION	0	0.0	86	2.8	83	2.3	169	2.6	14
FEDERAL FLAG	32	2.0	112	1.8	238	2.5	382	2.3	28
SALMON GUMS	0	0.0	199	2.8	108	2.9	307	2.8	28
WALHALLA	0	0.0	448	1.8	216	1.4	664	1.7	36
WALHALLA NORTH	0	0.0	94	2.4	13	3.0	107	2.5	9
MT BANJO	0	0.0	109	2.3	126	1.4	235	1.8	14
MACEDON	0	0.0	0	0.0	186	1.8	186	1.8	11
IGUANA	0	0.0	690	2.1	2,032	2.0	2,722	2.0	177
LIZARD	106	4.0	75	3.7	13	2.8	194	3.8	24
Davyhurst Regional Subtotal	138	3.5	1,800	2.2	3,000	2.0	5,000	2.1	340
Davyhurst Total	236	2.8	9,800	2.2	8,600	2.4	18,700	2.3	1,370
BALDOCK	0	0.0	136	18.6	0	0.0	136	18.6	81
BALDOCK STH	0	0	0	0	0	0	0	0	0
METEOR	0	0.0	0	0.0	143	9.3	143	9.3	43
WHINNEN	0	0	0	0	39	13.3	39	13.3	17
Mount Ida subTotal	0	0.0	140	18.6	180	10.2	320	13.8	140
Combined Total	236	2.8	9,900	2.4	8,800	2.5	19,000	2.5	1,510

1. This information was prepared and first disclosed under the JORC Code 2004 ( refer to ASX release “ Swan Gold Prospectus ”, 13/2/2013) . It has not been updated since to comply with JORC Code 2012 on the basis that the information has not materially changed since it was last reported 2. The First Hit, Sunraysia and Lady Bountiful Resources are no longer held by Eastern Goldfields and as such have been omitted form the above table.

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1. The above table contains rounding errors.

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+61 8 6241 1866 Website: www.easterngoldfields.com.au

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– Michael Fotios Executive Chairman