ORA BANDA MINING LTD — Major Shareholding Notification 2016

Apr 21, 2016

603 page 1/2 15 July 2001

Form 603 Corporations Act 2001
Section 671B

Notice of initial substantial holder

To Company Name/Scheme	Eastern Goldfields Limited
ACN/ARSN	100 036 266
1. Detaile of substantial holder (1) Name	Mr Michael George Fotios on behalf of himself and his controlled entities Michael Fotios ATF Fotios Family Trust ("MFFT"), Investmet Limited ("Investmet"), Delta Resource Management Pty Ltd ("Delta"), and Whitestone Minerals Pty Lid ("Whiteatone")
ACN/ARSN (If applicable)
The holder became a substantial holder on	8/3/2016

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voling interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	. Number of securilies	Person's votes (5) .	Voting power (6)
Fully Pald Ordinary Shares	200,777,020	200.777.020	41.01%

3. Datalla of relevant interests

$\overline{\phantom{a}}$

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant Interest	Nature of relevant Interest (7)	Class and number of securities
Mr Michael George Fotios	Relevant interest under: section 608(3) in respect of the ٠ shares held by Investmet. Delta and Whitestone (see below) as Mr Fotlos controls those entitles: section 608(1)(b) and (c) in respect $\bullet$ of the shares held by MFFT as Mr Fotios has the power to control those shares as trustee of a trust: section 606(1)(c) in respect of the $\bullet$ shares held by MGMC Pty Ltd ("MGMC") as Mr Fotlos, through investmet Limited, has a call option over these shares, and accordingly has the power to dispose of, or control the exercise of a power to dispose of those shares	200.777.020 Fully Paid Ordinary Shares
MFFT	ithe holder of the shares	16,986,484 Fully Paid Ordinary Shares 1 Relevant interest under section 608(1) as it is intended that 5,000,000 of these shares will be transferred to Mr Philip Hammond and Ms Betty Moore and/or their associates, such parties being releted parties of Mr Fotios.
linvəsimət	Relevant interest under section 608(1) as the holder of the shares	116,726,671 Fully Pald Ordinary Shares 2 2 9,288,311 of these shares are held by investmet on trust on behalf of third parties who held debt in the company. It is intended that legal title to these. enares will be transferred to the relevent parties in connection with the re-quotation of the company's Ísacurittas on ASX.
Delta	Relevant Interest under section 608(1) as the holder of the shares	57.591.527 Fully Paid Ordinary Shares 2 $\mathrm{^{[3}}$ it is intended that 1,666,666 of these shares will be transferred to Mr Philip Hammond and Ms Betty Moore and/or their essociates, such perties being related parties of Mr Folios.
lWhitestone	Relevant interest under section 608(1) as $\left _{6,000,000}$ Fully Paid Ordinary Shares liha holder of the shares

page 1/2 15 July 2001 603

4. Details of present registered holders

The persons registered as holders of the securities referred to in personshare are as follows:

Holder of relevant interest	Registered holder of Securities	Person entitled to be registered as holder (8)	Class and number of gecurities
	MFFT	MFFT	18,986,484 Fully Paid Ordinary Shares
	Investmet	investmet	115.726.671 Fully Paid Ordinary Shares
Mr Michael George Fotlos	Delta	Delta	57,691,527 Fully Pald Ordinary Shares
	Whitestone	Whitestone	6,000,000 Fully Paid Ordinary Shares
	MGMC	Investmet	4.372.338 Fully Paid Ordinary Shares
IMFFT	MFFT	MFFT	16,986,484 Fully Paid Ordinary Shares
linvəsimət	Invegimet	Investmet	115,726,671 Fully Pald Ordinary Shares
Daita	Delta	Delta	67,091,527 Fully Pald Ordinary Shares
Whitestone	Whilestone	Whitestone	6,000,000 Fully Paid Ordinary Shares

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant Interest	Date of acquisition	Consideration (9)		Class and number of securities
		Cash	Non-cash
Mr Michael George Folios	On or around 11 June 2014		N/A - Michael Fotios acquired a relevant interest in the shares held by Investmet as a result of increasing his shareholding in Investmet	41,238,671 Fully Paid Ordinary Shares
	On or around 11 June 2014		N/A - Michael Fotios acquired a relevant interest in the shares heid by MGMC as a result of increasing his shareholding in Investmet, who holds a call option) over the shares held by MGMC	4,372,338 Fully Paid Ordinary Shares
	8 March 2016		Issue of shares to MFFT. Investmet, Delta and Whitestone at a deemed price of \$0.15 per share upon conversion of debts, and shares issued in llau of fees. pursuant to ahareholder approval obtained on 30 December 2015	156,166,011 Fully Paid Ordinary Shares

$\sim 10^{-1}$

$\sim$

$\mathbf{r}$

$\frac{1}{1}$

MFFT	8 March 2016	lasue of shares at a deemed price of \$0.15 per share upon conversion of debts, and shares issued in lieu ol fees. pursuant to aharaholder approval obtained on 30 December 2015	16,986,484 Fully Paid Ordinary Shares
linvesimet	8 March 2016	Issue of shares at a deemed price of \$0.15 per share upon conversion of debis, and shares issued in lleu of fees. pursuant to shareholder approval oblained on 30 December 2015	115,726,071 Fully Pald Ordinary Shares
IDalla	8 March 2016	Issue of shares at a deemed price of \$0.15 per share upon conversion of debts, and shares issued in llou of fees. pursuant to shareholder approval oblained on 30 December 2015	57,691,527 Fully Paid Ordinary Shares
Whitestone	8 March 2016	lasue of shares at a deemed price of \$0.15 par share upon conversion of debls, and shares (ssued in lieu of fees. pursuant to shareholder approval obtained on 30 December 2015	6,000,000 Fully Paid Ordinary Shares

$\bar{\alpha}$

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

-- Name and ACN/ARSN (If applicable)	Nature of association
.	lwa
IN/A	__

7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Michael George Fotlos	12 Kathleen Street, Trigg WA 6029
MFFT	İLevel 1, 24 Mumford Place, Balcalta WA 6021
linvestmet	Level 1, 24 Mumford Place, Balcalta WA 6021
Delta	Level 1, 24 Mumford Place, Balcatta WA 6021
Whitestone	Level 1, 24 Mumford Place, Balcalta WA 6021
MGMC	Ic/- Pitcher Partners, PO Box 7191, Cloisters Square WA 6850

Signature

print name MICHAEL GEORGE FOTIOS

sign here

SUBSTANTIAL capacity HOLDER

22/04/2016 date

DIRECTIONS

if there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and
trustee of an equity trust), the names could be included in an ann $(1)$ they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members la clearly set out in paragraph 7 of the form.

• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a $(5)$ relevant interest in.
• $(6)$ The person's votes divided by the total votes in the body corporate or acheme multiplied by 100.
• $(7)$ Include details of:
• any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any (B) document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, logether with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the $(b)$ securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• $(8)$ If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown."
• Datails of the consideration must include any and all benefile, moneys and other, that any person from whom a relevant interest was acquired has, or $(9)$ may, become entitled to receive in relation to that acquisition. Datails must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

⁶⁰³ page 2/2 15 July 2001

$(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.

Information in this guide is intended as a guide only. Please consult your accountant or solicitor for further advice.