ORBMINCO LIMITED — Capital/Financing Update 2020

Aug 16, 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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17 August 2020

ASX Announcement

Drilling Program at Mt Venn Gold Project to Target High-Grade Historical Findings

Highlights:

• Phase 2 drilling program to commence at the Mt Venn Gold Project, located 30km from Gold Road Resources’ Gruyere gold deposit in Western Australia

• Program to target underexplored, high-grade gold shows at Chapman’s Reward, Lang’s Find, Jutson Rocks and lower saprolite gold anomalies at the Three Bears Prospect

• Heritage clearances in place for drilling at Lang’s Find and Three Bears Prospects with final approvals for Chapman’s Reward and Jutson Rocks expected in the coming weeks

• Exploration activities planned to resume during September 2020

• WA Government exploration co-funding grant of $150,000 towards direct drilling costs

• Well-funded to execute extensive drilling program following strongly supported placement and fully underwritten rights offer

Woomera Mining Limited (ASX:WML) ( Woomera or the Company ) is pleased to announce the Company has commenced preparation for its Phase 2 Drilling Program at its 80% owned Mt Venn Gold Project ( Mt Venn ), located 30km from Gold Road Resources Limited’s ( Gold Road ) Gruyere gold deposit in Western Australia. The Company has heritage clearances in place at the high-grade gold target at Lang’s Find and at the Three Bears Prospect. The Company is in negotiation to complete heritage clearances for Chapman’s Reward and Jutson Rocks during September 2020 at the earliest with exploration activities to commence once clearances have been received.

Woomera has identified several targets for its Phase 2 drilling program which may present to be high-grade deposits that could provide the foundation for a significant gold resource. Foremost among the gold targets at Mt Venn are Chapman’s Reward, Lang’s Find and Jutson Rocks which returned gold assays of up to 201g/t, 208g/t and 20.5g/t respectively[1] .

Historically, these targets have been underexplored due to the geographically remote nature of the region and a lack of infrastructure to support a drilling program. However, Woomera is well positioned to embark on this exciting exploration program due to a better understanding of the geology and the recent infrastructure investment in the region.

Woomera Mining Limited’s Chairman Mr Neville Martin commented: “ We’re excited to commence Phase 2 exploration at our Mt Venn project. Historic exploration has shown extensive gold-in-soil anomalism covering 12 large contiguous areas that require systematic exploration. In addition to targeting depth extensions of historic

1 See Woomera Mining Limited ASX Announcement “Acquisition of Mt Venn Gold Project Completed” released 20 September 2020

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high-grade gold mining areas, Phase 2 drilling will also begin testing of the gold-in-soil anomalies that occur over a variety of rock types including porphyry – the host to the >6M oz Gruyere gold deposit.”

About the Mt Venn Gold Project

Mt Venn is located 125km northeast of Laverton in the north-eastern gold fields of the Yilgarn Craton in Western Australia (Figure 1) and hosts 90% of the entire Mt Venn Greenstone Belt, which presents 50kms of strike that is highly prospective for gold. Together, these greenstone belts account for 30% of the world’s gold reserves, most of Australia’s nickel production, plus other base metal and rare earth deposits.

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Figure 1 – Location of Mount Venn gold project

The Mount Venn greenstone belt hosts several internal granitoid intrusions and a major first order shear zone which transects the middle of the belt. This setting is analogous to that observed at Gold Road Resources’ 300 koz per annum Gruyere gold deposit (JORC 2012 Mineral Resources of 154 Mt @ 1.34 g/t Au for 6.6Moz[2] ) which occurs within the Dorothy Hills greenstone belt, 30km east of the Mt Venn Gold Project (Figure 2).

Although this region was considered geographically remote, Gold Road has significantly enhanced its accessibility since 2017 with the construction of a mining village, bore field, main water supply, airstrip, power station, roads and a 198km gas pipeline prior to first gold delivery in June 2019. This construction has greatly improved the logistics of exploring at Mt Venn.

2 See Gold Road Resources Limited ASX Announcement “Gruyere 2020 Guidance and Resource Upgrade” released 12 February 2020

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Figure 2 – Gold in soil anomalies Jutson, Yamarna and Dorothy Hills shear zones

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Figure 3 – Gold in soil anomalies Mt Venn project

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Chapman’s Reward Historical Exploration

The first exploration activity at Chapman’s Reward was recorded at Rutter Soak (on E38/3111) in 1894 and then reports by the Geological Survey of Western Australia following field trips in 1906 and 1918. The first discovery of gold was officially reported in 1923 by the State Prospecting Party which reported gold assays of up to 201 g/t from samples taken from historic pits[3] .

From 1925, a total of 26.65 ounces of gold was recovered from 15.24 tonnes of ore at an average grade of 54.39 g/t gold from Chapman’s Reward. No further exploration was recorded until 1969 when International Nickel Australia Ltd and Kennecott Exploration (Australia) Pty Ltd carried out comprehensive programs for nickel over several years.

In the 1990s, Elmina Mining, Helix Resources and Global Metals Exploration conducted surficial geochemical reconnaissance which revealed strong gold anomalism along the trend of the Jutson Shear zone (Figure 2). However, these companies were unable to conduct meaningful exploration given a gold price of US$300 – US$500 per ounce and the lack of infrastructure to accommodate a drilling program in the geographically isolated region.

The historic diggings at Chapmans lie within a 6.5 Km[2] area that was held as Prospecting Licences by previous explorers including Kilkenny Gold NL and various individuals. This ground was amalgamated into E38/3111 in September 2019, opening the way for modern exploration to proceed.

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Figure 4 – Shallow mine workings on 40[o] east dipping quartz vein carrying visible gold

Figure 5 – Close up view of the Chapman’s Reward quartz vein

Additional Targets

The State Prospecting Party also took rock chip samples from Lang’s Find in 1923 with results of up to 208 g/t. No further exploration at Lang’s Find was undertaken until 1996 when Elmina Mining NL conducted regional soil sampling (1000m by 250m grid followed by 500m by 100m infill soil sampling) and identified a large anomalous area at Lang’s Find. Cazaly conducted limited follow-up rock chip sampling in September 2018 with results of up to 16 g/t identified.

A current Program of Works for Lang’s Find has been cleared by the Native Title Holders and the WA Department for Mines, Industry, Regulation and Safety. The cleared drill hole locations are shown in Figure 6.

3 As per The WA Department of Mines 1923 Annual Report

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Figure 6 – Lang’s Find historical diggings and cleared drill hole

The Three Bears prospect is located in the central part of the project area, as shown in Figure 3. Historical shallow drilling on this prospect yielded elevated gold assays in lower saprolite intercepts over a zone which extends for six kilometres in a north-south direction. Woomera’s November 2019 drilling program extended the known mineralised zone by two kilometres to the north (Figure 7).

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Figure 7 – Previous shallow drilling with elevated gold assays

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Phase 2 Drilling Program

Woomera has received heritage clearances for Lang’s Find and is working closely with the Yilka Talintji Aboriginal Corporation to conduct a Heritage Survey over the proposed drill sites at Chapman’s Reward and Jutson Rocks. Given the current travel restrictions due to Covid-19, Woomera has commenced negotiations with the Yilka Talintji for them undertake a Heritage Survey under remote supervision.

The Phase 2 drill program at Chapman’s will consist of a series of shallow RC drill holes designed to test the granite gneiss-mafic contact and line-of-lode of historical diggings. Figure 8 shows a diagrammatic geological section across Chapman’s based on the exposed geology and the orientation of the planned RC drill holes. In addition to Chapman’s Reward, Woomera will develop an aircore drilling program to test significant gold anomalies at Jutson Rocks and Shenton Well (Figure 9).

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Figure 8 – East West diagrammatic section at Chapman’s Reward with planned RC drill hole orientation

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Figure 9 – Chapman’s Reward geological setting and historic mine workings

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The exposed geology at Lang’s Find indicates that the highly altered volcanic sequence dips steeply to the east with a series of cross cutting structures which could be associated with quartz veining. The Phase 2 drill program for Lang’s will consist of a series of shallow RC drill holes designed to test the metamorphosed dolerite, adjacent rock units, quartz veins and surrounding anomalous soil and auger results. Figure 10 highlights a diagrammatic geological cross section based on information collected to date and the orientation of RC drill holes on a typical line.

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Figure 10 – Diagrammatic geological cross section with RC drill holes

The Phase 2 drilling program will also include a combination of RC and AC drilling at Three Bears. RC drilling will be conducted under the gold in saprolite anomalies that were detected in the 2019 drilling program plus additional AC drilling will be conducted in the south to determine the southerly extent of the gold mineralisation (Figure 11).

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Figure 11 – Past and future drilling locations at Three Bears

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If the Western Australian border remains closed, Woomera will engage an experienced eastern goldfields contract geologists to assist in the execution of the upcoming Phase 2 Mt Venn drilling program.

This ASX announcement has been approved by Woomera Mining’s Board of Directors and authorised for release by Woomera’s Managing Director, Mr. Gerard Anderson.

Contact

Gerard Anderson

Managing Director Woomera Mining Limited +61 8 8232 6201 Gerard.anderson@woomeramining.com.au

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 Dundas in Western Australia.

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