ORBMINCO LIMITED — Board/Management Information 2020

Oct 13, 2020

Woomera Mining Limited

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Suite 116, 147 Pirie St Adelaide SA 5000 admin@WoomeraMining.com.au www.WoomeraMining.com.au

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14 October 2020

ASX Announcement

Woomera Mining Board Restructure

Highlights:

• Woomera is undertaking a Board Restructure

• Woomera has appointed to the Board 2 Perth-based directors, Mr Ian Gordon and Mr David Richards

• Mr Gordon and Mr Richards are highly regarded mining executives with a strong history of delivering significant discoveries and creating value for shareholders

• Mr Neville Martin has indicated a desire to retire from the role of Non-Executive Chairman at Woomera’s upcoming Annual General Meeting with Mr Gordon to assume the role thereafter

• Adelaide and Melbourne based directors Mr Gerard Anderson, Mr Donald Triggs and Mr Joe Fekete will retire from their respective Board positions but continue their involvement with the Company under part-time consultancy arrangements

Woomera Mining Limited (ASX:WML) ( Woomera or the Company ) is pleased to provide an update in relation to the Board and management of the Company.

Woomera is making important organisational changes to support the pursuit of its mid-term exploration strategy focused on the Mt Venn Project in Western Australia. This includes the appointment of two well regarded Perthbased mining executives and four retirements from the Board of Directors.

New Board Appointments

Woomera has made two appointments to the Board, effective immediately:

• Mr Ian Gordon as Non-Executive Director until assuming the role of Non-Executive Chairman after Woomera’s November 2020 Annual General Meeting; and

• Mr David Richards as Non-Executive Director.

Mr Gordon is a mining executive with extensive experience in transaction generation, project acquisition, mine development and the management of public companies. Mr Gordon has held senior board positions with ASXlisted Dreadnought Resources Limited (ASX:DRE) and Auteco Minerals Limited (ASX:AUT) and was formerly Managing Director of Ramelius Resources Limited (ASX:RMS) and Flinders Mines Limited (ASX:FMS). Mr Gordon holds a Bachelor of Commerce from Curtin University in Western Australia.

Mr Richards is a qualified professional geologist with a successful track record and over 35 years’ experience in the mineral exploration and development industry in Australia and overseas. He has been responsible for the planning and implementation of corporate strategies and exploration/development programs in a variety of geological environments and is closely associated with the discovery and delineation of multiple economic

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mineral deposits. Mr Richards has held senior positions with Battle Mountain Australia Inc, Delta Gold Limited and AurionGold Limited, was formerly Managing Director of Glengarry Resources Limited and is currently Managing Director of ASX-listed Liontown Resources Limited (ASX:LTR). Mr Richards holds a Bachelor of Science (Geology Honours) from University of Western Australia.

Woomera’s incoming Board member, Mr Ian Gordon, commented:

“ I am honoured and excited to join the Board of Woomera and am eager to work with our highly skilled geological team. Mt Venn is a top tier gold exploration project in an attractive region of Western Australia and I’m excited about the value it offers. Gold Road’s success at the significant yet similar Gruyere deposit highlights the attention Woomera deserves and outlines the potential of a discovery at the Mt Venn Project.”

Board Retirements

The Board changes include a number of current Board members retiring from the Board:

• Mr Neville Martin is retiring from the position of Non-Executive Chairman at Woomera’s November 2020 Annual General Meeting;

• Mr Gerard Anderson is retiring from the position of Executive Director and Managing Director, effective immediately;

• Mr Donald Triggs is retiring from the position of Executive Director and Exploration Director, effective immediately; and

• Mr Joe Fekete retiring from the position of Non-Executive Director, effective immediately.

Mr Martin will continue in the position of Non-Executive Chairman until the Company’s 2020 Annual General Meeting to optimise the transition process. Mr Anderson, Mr Triggs and Mr Fekete will continue to work with the Company under part-time consultancy arrangements based upon agreed daily rates.

Current non-executive Director, Mr David Lindh, has agreed to continue on the Board and provide important continuity through the restructuring process.

Woomera’s Non-Executive Chairman, Mr Neville Martin, commented:

“ I would like to thank Mr Anderson, Mr Triggs and Mr Fekete for their hard work and dedication over the years and are pleased that they will continue to support the Company under consultancy arrangements. We believe the Company is now in an ideal position to conduct the next stage of drilling activities with Perth-based Directors who bring with them a wealth of exceptional transaction success.”

Issue of Options to Incoming Directors

Woomera wishes to advise that the Company intends to issue options to Mr Gordon and Mr Richards, subject to shareholder approval at the upcoming AGM. The terms of the options will be:

	Ian Gordon	David Richards
Number of Options	10,000,000	10,000,000
Strike Price	$0.05	$0.05
Purchase Price of each Option	$0.0001	$0.0001
ExpiryDate	31 December 2022	31 December 2022

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Contact

This ASX announcement has been approved by the Board of Woomera Mining Ltd and authorised for release by:

Jonathan W. Lindh Company Secretary Woomera Mining Limited +61 8 8232 6201

About Woomera Mining Limited

Woomera Mining Limited, based in Adelaide, South Australia has an extensive tenement portfolio prospective for gold, copper, nickel-copper-cobalt and lithium. The portfolio includes tenements prospective for gold and nickel-copper in Western Australia (Mt Venn Gold Project), for Ni-Cu-Co in the Musgrave province of South Australia (Musgrave Alcurra-Tieyon Project) and tenements in the Gawler Craton considered prospective for IOCGU deposits, Cu-Ni-Co deposits, Rare Earth and Precious Metals. Woomera’s tenement portfolio also includes granted tenements and tenement applications in Western Australia prospective for lithium including 2 tenements and 1 tenement application in the Pilbara region of Western Australia (Pilgangoora Lithium Project), 2 lithium tenements near Ravensthorpe (Mt Cattlin Lithium Project), 2 lithium tenements at Lake Cowan and a tenement covering a lithium brine prospect at Lake Dandas in Western Australia.

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