ORBMINCO LIMITED — Capital/Financing Update 2022

Oct 30, 2022

31 October 2022

ASX ANNOUNCEMENT

DISPATCH OF ENTITLEMENT OFFER DOCUMENTS AND ENTITLEMENT OFFER NOW OPEN

Woomera Mining Limited (ASX:WML) ( Woomera or the Company ) is pleased to confirm the dispatch today of letters to shareholders providing details of how to access the Offer Booklet online and the Application Form for the Non-renounceable Entitlement Offer ( Offer Booklet ) announced on 11 October 2022 ( Entitlement Offer ).

Eligible shareholders are advised that the Offers under the Offer Booklet are now open for subscription with the proposed Closing Date being 5.00pm (ACDT) 15 November 2022.

Eligible shareholders are invited to subscribe for one (1) New Share for every five (5) Shares held as at the record date on 25 October 2022 at an offer price of $0.013 per New Share. The Entitlement Offer is fully underwritten by Taylor Collison Limited (ACN 008 172 450), further details of which are set out in the Offer Booklet.

Any eligible shareholder who wishes to participate in the Entitlement Offer will need to follow the "How to Apply for New Shares" instructions in Section 3 of the Offer Booklet. Eligible shareholders who elect not to participate should be aware that their shareholding interest in WML will be diluted as a result.

Shareholders should carefully consider the Offer Booklet in deciding whether to acquire any New Shares.

Updated Indicative Timetable

The Company refers to the indicative timetable for the Offers as set out in its announcement dated 11 October 2022 and notes that the offer opening date has been adjusted by one business day following the lodgement of the Offer Booklet later than anticipated. All other dates remain the same.

The amended indicative timetable for the Offers is as follows:

Date	**Item **
11 October 2022	Entitlement Offer and Placement Announcement Date Lodgement of Appendix 3B
17 October 2022	Settlement of New Shares under Placement
18 October 2022	Issue of New Shares from Placement

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24 October 2022	Entitlement Offer Ex Date Companyshares trade on an ex-basis for the Entitlement Offer
25 October 2022 (5pm AEDT)	Entitlement Offer Record Date
31 October 2022	Entitlement Offer Opening Date Entitlement Offer opens Offer Booklet and personalised entitlement and acceptance forms dispatched to Eligible Shareholders Notice sent to ineligible shareholders
	The Companyannounces that dispatch has been completed
10 November 2022	Last day to extend the Entitlement Offer closing date
At 5:00pm (ACDT) on 15 November 2022	Entitlement Offer Closing Date
16 November 2022	Entitlement Offer – Quotation on a deferred settlement basis
18 November 2022	Entitlement Offer Shortfall Notification Date Company announces results of the Entitlement Offer and notifies ASX of under-subscriptions(if any)
22 November 2022	Entitlement Offer Allotment Date Issue date under Entitlement Offer – Deferred settlement trading ends Lodgement of Appendix 2A
23 November 2022	Entitlement Offer Trading Date Normal tradingof Offer Shares commences

Cleansing Notice under Section 708AA(2)(f)

For the purposes of section 708AA(2)(f) of the Corporations Act 2001 (Cth) ( Corporations Act ), the Company advises that:

• (a) the Shares to be issued pursuant to the Offers will be offered for issue without disclosure under Part 6D.2 of the Corporations Act;

• (b) this notice is being given under section 708AA(2)(f) of the Corporations Act as modified by the Corporations (Non-Traditional Rights Issues) Instrument 2016/84 of the Australian Securities and Investments Commission ( ASIC Instrument );

• (c) as at the date of this notice, Woomera has complied with:

• (i) the provisions of Chapter 2M of the Corporations Act as they apply to Woomera; and

• (ii) sections 674 and 674A of the Corporations Act;

• (d) as at the date of this notice, there is no information which is excluded information (as defined in section 708A(7) of the Corporations Act), except for, as previously announced, the Company completed a 10 hole drilling program at the Mt Cornell and Mt Warren prospects over May and June 2022. With some results received and released to the ASX[1] , and with the other assays being progressively received, once all assay results have been received and subject to QA/QR procedures, Woomera will be able to provide final drilling results as is the Company’s normal

1 Refer ASX Announcement dated 18 July 2022.

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protocol. The information is currently incomplete and is not able to released in accordance with the ASX Listing Rules and the JORC Code. Accordingly, at this time, the information is not considered to be information that investors and their professional advisers would reasonably require for the purposes of making an informed assessment of the assets and liabilities, financial position and performance, profits and prospects of the Company, or the rights and liabilities attaching to the Shares; and

• (e) the potential effect that the Offers will have on the control of the Company, and the consequences of that effect, will depend on a number of factors, including investor demand. However, given the size of the Offers, the composition of Woomera’s share register and the structure of the Offers as an underwritten, non-renounceable, pro rata offer, Woomera does not expect the Offers to have any material effect or consequence on the control of the Company. Further detail in respect of the potential effect that the Offers may have on the control of the Company is provided in the Offer Booklet.

This ASX announcement has been approved and authorised for release by Woomera Mining’s Board of Directors.

For further information please contact:

Jason Livingstone Luke Forrestal (Media Relations) Duncan Gordon (Investor Relations) Managing Director Director, Financial Communications Executive Director Woomera Mining Limited GRA Partners Adelaide Equity Partners + 61 417 560 341 +61 411 479 144 + 61 404 006 444

About Woomera Mining Limited

Woomera Mining Limited is a focussed mineral explorer. The Company is exploring for battery metals (lithium nickel, copper + PGE’s) and gold in the Yilgarn and Pilbara Cratons of Western Australia plus the Musgrave Province in South Australia along with copper-gold mineralisation in the Gawler Craton of South Australia.

Forward Looking Statements

Certain statements in this document are or maybe “forward-looking statements” and represent Woomera’s intentions, projections, expectations or beliefs concerning among other things, future exploration activities. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Woomera, and which may cause Woomera’s actual performance in future periods to differ materially from any express or implied estimates or projections. Nothing in this document is a promise or representation as to the future. Statements or assumptions in this document as to future matters may prove to be incorrect and differences may be material. Woomera does not make any representation or warranty as to the accuracy of such statements or assumptions.

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