ORBMINCO LIMITED — Capital/Financing Update 2022

Aug 21, 2022

22 August 2022

ASX ANNOUNCEMENT

Wyloo Dome JV Demonstrates Significant Gold Potential

Highlights

• An extensive 2,031 line km VTEM[TM] MAX survey has been completed over the Wyloo Dome JV Project, with 40-plus targets identified for follow-up

• Wyloo Dome is located between the high-grade Paulsens and Mt Olympus gold mines in the Ashburton region of WA

• The project covers over 40km strike of the highly prospective Mt McGraths Formation which is the favoured host rock for high grade gold mineralisation at Mt Olympus

• Immediate drill targets at Golden Marra Mamba and New Morning have been confirmed by the survey data

• Woomera can earn a 60% interest in the project by funding up to $4 million in exploration within three years

Woomera Mining Limited ( ASX: WML ) (“ Woomera ”, “ the Company ”) is pleased to announce that it has completed an extensive VTEM[TM] MAX aerial survey over the Wyloo Dome Gold JV Project in Western Australia’s Ashburton region, with the process successfully identifying new exploration targets for immediate follow-up.

The VTEM[TM] MAX survey was a key event for Woomera as the Company has now met the minimum $300,000 spend required within the first year of the Farm-In and Joint Venture Agreement (FIJVA) signed with privately owned Nanjilgardy Resources in March 2022. Under the FIJVA, Woomera can earn a 60% interest in the project by spending up to $4 million within three years.

The Wyloo Dome Project is located 1,000km north of Perth and is accessed via the sealed Nanutarra Road, from the township of Paraburdoo in Western Australia (Figure 1). The tenements lie between Northern Star Resources’ Paulsens gold mine (0.95 Moz historical gold endowment – production between 2004-2017 was 909koz (NSR Fact Sheet) plus a total mineral resource of circa 38koz (NSR Resources and Reserves webpage) and Kalamazoo Resources’ Mt Olympus gold project (1.65Moz gold Mineral Resource – KZR website).

There is compelling evidence for mineralisation between those two plus-million ounce gold deposits. Numerous rounds of historical exploration have demonstrated significant and at times high grade gold anomalism in drilling and rock chip sampling coupled with suitable host rocks of carbonates and carbonaceous siltstones with evidence of decalcification of dolomite and limestone units. The Company also notes that these aspects demostrate strong comparisons between the geology of the region and that of Nevada’s Carlin Trend, which hosts multiple multi-million ounce gold deposits. The VTEM[TM] MAX survey has confirmed the relative structural complexities within suitable host rocks needed to host such styles of mineralisation.

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Figure 1: Location of the Wyloo Dome FIJVA Project – Ashburton region Western Australia

Wyloo Dome VTEM[TM] MAX Survey and Prospects

The geology of the Wyloo Dome Project comprises Duck Creek Dolomite with lesser exposures of the Mt McGraths Formation which hosts the gold mineralisation at Mt Olympus. Unlike the gold deposits around Kalgoorlie, the Ashburton region has greater affinity to the giant multi-million ounce gold deposits found in Nevada, USA.

A regional airborne electromagnetic ( AEM ) survey commissioned by Geoscience Australia ( GA ) in 2013 identifed that the Mt McGraths Formation is conductive, providing a direct mapping tool to identify favourable stratigraphy (please refer to ASX Announcement “ Wyloo Dome Farm -In Targets Gold Potential ” dated 11 March 2022).

The Geoscience Australia AEM Survey was flown on a 5km line spacing, whereas Woomera’s VTEM[TM] MAX Survey was completed initially on 200m line spacing with selected infil down to 100 metre line spacing.

At the New Morning prospect (Figure 2, 3 & 4), an untested blind AEM conductor coincident with a recently defined, large amplitude VTEM[TM] MAX anomaly, lies adjacent to the historical drilling which returned encouraging intersections of up to 16m at 0.68 g/t Au[(1)] , suggesting a near-miss scenario whereby this intersection is distal to the main mineralisation lode/s.

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Figure 2: Wyloo Dome FIJVA Project highlighting the Duck Creek Dolomite (DCD) in blue and Mt McGraths Formation

At the Golden Marra Mamba Prospect (Figure 2 & 3) significant rock chip anomalism, up to 11.7 g/t Au[(2)] is coincident with a strong AEM conductor and now complemented by demonstrated geophysical anomalism and structural complexity. The VTEM[TM ] Max has confirmed the AEM anomaly and adds further prospectivity to the Golden Marra Mamba Prospect by detailing the internal complexities within the host lithologies coincident with demonstrated geochemical anomalism. The internal complexities likely represent structural pathways for fluid mobility and possible deposition of mineralisation.

Woomera has initially refined these targets with the VTEM[TM] MAX survey and is looking to ground truth in anticipation of potentially drill testing the higher order targets as soon as possible.

The Company will now prioritise the newly identied VTEM[TM] MAX anomalies, with plans to commence drilling once all statutory approvals are received.

Woomera’s Managing Director Jason Livingstone commented:

“ It has been an incredibly busy first week at Woomera as MD, and it is an absolute pleasure to be discussing the Wyloo Dome JV Project, let alone the other highly prospective Projects in our portfolio. This survey is a key event in regards to the Wyloo Dome FIJVA, with the first expenditure hurdle now met and a significant number of new targets generated. Our team is ready to return to the field to further assess and prioritise these targets. Having high grade rock chips and highly anomalous drilling coincident with geophysical anomalies bodes incredibly well for the future of Wyloo Dome under Woomera management.”

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Figure 3: Wyloo Dome FIJVA ProjectInitial VTEMTM MAX Survey Results & Targets (CH48_BZ_anomaly_SE shade, WGS84 UTM Zone 50S)

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Figure 4: New Morning Prospect highlighting the coincident untested VTEMTM MAX anomaly (CH48_BZ_anomaly _SE shade, WGS84 UTM Zone 50S)

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

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

• (1) Goldsworthy J., etal, 2002: Ashburton Project – Southeastern Exploration Area Annual Tecnhical Report for the Period Ending 31 December 2002. DMIRS WAMEX Open File Report Reference A066254

• (2) Fielding, I., 2010: Metawandy Creek Project, Final Surrender Report for EL08/854 for Intrepid Mines Limited. DMIRS WAMEX Open File Report Reference A086783 etal

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.

Competent Persons Statement

The exploration results reported herein, insofar as they relate to mineralisation, are based on information compiled by Mr Jason Livingstone. Mr Livingstone is a full-time employee of Woomera Mining Limited and is a Member of the Australasian Institute of Mining and Metallurgy with over twenty years of experience in the field of activity being reported. Mr Livingstone has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activity that 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’ relating to the reporting of Exploration Results. Mr Livingstone consents to the inclusion in the report of matters based on his information in the form and context in which it appears.

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.

Previously Reported Information

Information in the announcement references previously reported exploration results extracted from the Company’s announcements, including WML ASX Release 11 March 2022. For the purposes of ASX Listing Rule 5.23 the Company confirms that it is not aware of any new information or data that materially affects the

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information included in the original announcement and that all material assumptions and technical parameters underpinning the estimates in the original announcements continue to apply and have not materially changed.

Appendix 1: Wyloo Dome FIJVA Project - JORC Table 1

Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	• No new sampling has been completed over the Wyloo Dome Farm-in and Joint Venture (FIJVA) by Woomera Mining at this stage • Woomera has referenced various historical WAMEX Open File Reports (see A0 reference number) which are freely available in the public domain • Woomera has reviewed the sampling procedures, the fire assay gold assay analysis technique and QAQC protocols adopted and has concluded they were collected using industry best practice procedures at the time • Woomera intends to validate the historical drilling and surface sampling results with additional RC drilling and surface sampling during its 2022/2023 field seasons • The VTEMTM MAX Max survey (Versatile Time Domain Electro Magnetic) was flown by UTS Geophysics Pty Ltd. • Heliborne magnetic and electromagnetic data was acquired with VTEMTM MAX Max transmitter frequency of 25Hz, loop diameter ~37m and mean terrain clearance height of 35m. • Line spacing was 200m with 100m infill over priority areas in a north south direction.
Drilling techniques	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details(eg core	• No new drilling is reported in this announcement

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Criteria	JORC Code explanation	Commentary
	diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if _so, by what method, etc). _
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	• No new drilling is reported in this announcement
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged.	• Newcrest’s diamond drill hole NMD001 is stored at the GSWA Core Library in Kalgoorlie where it will be re-logged by Woomera technical staff during 2022
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	• No new sampling is reported in this announcement

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Criteria	JORC Code explanation	Commentary
	• Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled.
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	• No new analyses has been reported in this announcement • The report partially refers to a historical regional airborne electromagnetic survey flown by Geoscience Australia (GA) in 2013 – as part of the Capricorn Regional AEM Survey. The relevant survey lines of this data was re-processed by leading industry geophysical consultants and the sectional data is presented ASX Announcement ““Wyloo Dome Farm -In Targets Gold Potential” dated 11 March 2022 • Given the broad spaced (5km) line spacing of the GA data, Woomera has infilled this dataset with a helicopter borne VTEMTM MAX and magnetic geophysical survey data VTEMTM MAXTM Max system specification: Transmitter • Transmitter loop diameter: 34.6 m • Effective Transmitter loop area: 3761 m2 • Number of turns: 4 • Transmitter base frequency: 25 Hz • Peak current: 172.4 A • Pulse width: 7.36 ms • Wave form shape: trapezoid • Peak dipole moment: 648,394 nIA • Average transmitter-receiver loop terrain clearance: 35 metres Receiver X Coil diameter: 0.32 m • Number of turns: 245 • Effective coil area: 19.69 m2 Y Coil diameter: 0.32 m • Number of turns: 245 • Effective coil area: 19.69 m2 Z-Coil diameter: 1.2 m

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Criteria	JORC Code explanation	Commentary
		• Number of turns: 100 • Effective coil area: 113.04 m2 The magnetic sensor utilized for the survey was Geometrics optically pumped cesium vapour magnetic field sensor mounted 10 metres below the helicopter. The sensitivity of the magnetic sensor is 0.02 nano Tesla (nT) at a sampling interval of 0.1 seconds.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	• Woomera intends to verify the historical exploration drilling completed by Newcrest Mining in 2001-2002 during the 2022 field season after completing fixed loop ground EM surveys and airborne EM surveys across the project area
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	• Woomera personnel have inspected the historical drill collars of Newcrest and has confirmed the accuracy of the original survey data • The navigation system used for the VTEMTM MAX Survey was a UTS PC104 based navigation system utilizing a NovAtelWAAS (Wide Area Augmentation System) enabled GPS receiver, UTS navigate software, a full screen display with controls in front of the pilot to direct the flight and a NovAtel GPS antenna mounted on the helicopter tail (Figure 6). As many as 11 GPS and twoWAAS satellites may be monitored at any one time. The positional accuracy or circular error probability (CEP) is 1.8 m, with WAAS active, it is 1.0 m. The co-ordinates of the block were set-up prior to the survey and the information was fed into the airborne navigation system. • WGS84 UTM Zone 50S.
Orientation of data in	• Whether the orientation of sampling achieves unbiased	• No new sampling has been reported in this announcement

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Criteria	JORC Code explanation	Commentary
relation to geological structure	sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
Sample security	• The measures taken to ensure _sample security. _	• No new sampling is reported in this announcement
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	• No new sampling is reported in this announcement

Part 2: Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	• The Wyloo Dome FIJVA tenements are located on pastoral leases. Heritage surveys are completed prior to any ground disturbing activities in accordance with Woomera’s responsibilities under the Aboriginal Heritage Act in Australia. • Currently all the tenements are in good standing. There are no known impediments to obtaining a licences to operate in either area.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• Exploration and mining by other parties has been extensively reviewed and has been used as a guide to Woomera’s future exploration activities. Previous parties may have completed soils sampling , rock chip sampling, RC drilling and diamond drilling over selected parts of the project. • Woomera has also re-processed Geoscience Australia’s 2013 airborne EM (AEM) 5km line spaced survey data to assist with its exploration targeting

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Criteria	JORC Code explanation	Commentary
Geology	• Deposit type, geological setting and style of mineralisation.	• The targeted mineralisation is typical of Carlin-type epithermal gold mineralisation where the mineralization forms very large tonnage flat lying deposits • Woomera will also explore for steeper dipping high grade feeder structures and low sulphidation epithermal vein arrays within the land package along with “Homestake” style sulphide replacement banded iron formation mineralization at Golden Marra Mamba
Drill hole Information	• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	• No new drilling is reported in this announcement • However all future drill holes reported by Woomera must have the following parameters applied. All drill holes completed, including holes with no significant results (as defined in the Attachments) are reported in this announcement. • Easting and northing are given in MGA94 coordinates as defined in the Attachments for Mount Venn. • RL is AHD • Dip is the inclination of the hole from the horizontal. Azimuth is reported in magnetic degrees as the direction the hole is drilled. MGA94 and magnetic degrees vary by <10in the project area. All reported azimuths are corrected for magnetic declinations. • Down hole length is the distance measured along the drill hole trace. Intersection length is the thickness of an anomalous gold intersection measured along the drill hole trace. • Hole length is the distance from the surface to the end of the hole measured along the drill hole trace. • No results are currently available from the exploration drilling included in this report. • Gold grade (when reported) intersections will be reported >0.4 g/t Au within 4m Aircore composites or >0.1 g/t Au within single metre RC samples (with up to 4m of internal dilution)are considered significant

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Criteria	JORC Code explanation	Commentary
		in the broader mineralised host rocks. • Base metal grades will be reported >1000ppm. • Diamond core samples are generally cut along geological contacts or up to 1m maximum. • Precious metal grades greater than 0.5 g/t Au are highlighted where good continuity of higher-grade mineralization is observed. 0.1 g/t Au cut-offs are used for reconnaissance explorationprograms.
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated.	• No new exploration results are reported in this announcement • With respect to this historical assays. Weighted average techniques are applied to determine the grade of the anomalous interval when geological intervals less than 1m have been sampled. • Exploration drilling results are generally reported using a 0.5 g/t Au, lower cut-off for RC and diamond or 0.1 g/t Au for Aircore drilling (as described above and reported in the Attachments) and may include up to 4m of internal dilution. • All assay results are reported to 3 significant figures in line with the analytical precision of the laboratory techniques employed. • No metal equivalent reporting is used or applied.
Relationship between mineralisation widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width _not known’). _	• The intersection length is measured down the length of the hole and is not usually the true width. • The interpreted flat lying nature of the mineralization reported from Newcrest’s New Morning Prospect assumes true width of the reported interval
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be includedfor	• Detailed drill hole sections and plans for each prospect must be plotted and interpreted aspart of the internalQAQC

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Criteria	JORC Code explanation	Commentary
	any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	process. Field sections must be compared with Micromine plots to ensure no errors or omissions creep into the database. • The reviewing geologist has interpretted/plotted his/her geology observations onto cross sections. • Errors and/or discrepancies with lithological logs must be rectified and forwarded to Perth. • Final cross sections displaying corrected geology and assays are to be plotted and interpreted. Depending on the target 3-D wireframes may require construction too. At the very least cross- sectional data must be translated into plan view and the relevant scaled (1:2,500 or 1:25,000) geological interpretation be updated and integrated in MapInfo. The project geologist will draft any changes/modifications required as directed by the relevant principal geologist /EM.
Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results	• All pertinent information has been provided in this announcement. It is not practical to publish each different processing technique therefore, representative images detailing the survey extents and anomalism is presented.
Further work	• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	• Woomera is intending to complete fixed loop ground EM over New Morning and Golden Marra Mamba (subject to satisfactory heritage approvals) followed by deeper RC drill testing to firstly confirm the historical drill intersections recorded in this report and extend the known mineralization laterally, based upon its revised Carlin-style geological modelling • Diagrams in the body of the the report are used for illustrative purposes to explain Woomera’s targetingstrategy

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