ORBMINCO LIMITED — Capital/Financing Update 2022

Mar 10, 2022

11 March 2022

ASX ANNOUNCEMENT

Wyloo Dome Farm-in Targets Gold Potential

Highlights

• Woomera has entered into an Exploration Farm-in and Joint Venture Agreement (FIJVA) with Nanjilgardy Resources over the Wyloo Dome Project

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

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

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

• Immediate drill targets include the Golden Marra Mamba prospect where historical exploration has returned high grade rock chips up to 11.7 g/t Au t

Woomera Mining Limited ( ASX: WML ) (“ Woomera ”, “ the Company ”) is pleased to announce that it has entered into an Exploration Farm-in and Joint Venture Agreement (FIJVA) with privately owned Nanjilgardy Resources over the Wyloo Dome Gold Project in Western Australia’s Ashburton region.

Under the terms of the agreement, Woomera can earn a 60% interest in the Project by funding up to $4 million of exploration within three years. Upon Woomera earning 60%, Nanjilgardy has the oneoff option to contribute its 40% or revert to a free-carried 20% interest until a Decision to Mine. The full terms of the FIJVA are set out further down in this announcement.

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 (1.2Moz historical gold endowment) and Kalamazoo Resources’ Mt Olympus gold project (1.6Moz gold Mineral Resource – KZR website).

Woomera believes there is compelling evidence for deeper buried mineralisation between the two plus-million ounce gold deposits in the Ashburton and notes strong comparisons between the geology of the region and that of Nevada’s Carlin Trend, which hosts multiple multi-million ounce gold deposits.

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

Wyloo Dome Geology and Prospects

The geology of the 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.

Woomera believes there is compelling evidence for deeper buried gold mineralisation in the Ashburton. 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 the favourable stratigraphy (Figures 3+4).

At the New Morning prospect (Figure 3), an untested blind AEM conductor lies adjacent to the historical drilling which returned encouraging (near miss) intersections up to 16m at 0.68 g/t Au (1) .

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

At the Golden Marra Mamba Prospect (Figure 4) significant rock chip anomalism (up to 11.7 g/t Au (2)) is coincident with a strong AEM conductor.

Woomera intends to refine both targets with ground EM surveys before drill testing in the second half of 2022.

Woomera’s Chairman Ian Gordon commented:

“ We would like to thank outgoing Managing Director Kevin Seymour for identifying and finalising such a compelling exploration opportunity for the Company to complement its Pilbara lithium exploration activities and add to the significant success the Company is enjoying with its portfolio of Ni-Cu-PGE assets, including Mt Venn in Western Australia and the Musgrave Project in South Australia. ”

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Figure 3: Geoscience Australia’s (2013) 5km line spaced AEM data imaged and higlighlighting the strong correlation between the AEM conductance and the flat lying Mt McGraths FM, stratigraphically below the DCD

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Figure 4: Golden Marra Mamba Prospect highlighting the coincident untested AEM and magnetic anomaly and historical rock chips upto 11.7 g/t Au suggesting gold leakage along proximal fault zones

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Key Terms of the Farm-in and Joint Venture

The key terms of the FIJVA, whereby Woomera can earn a 60% equity interest in the Wyloo Dome Project, are as follows:

• A wholly owned subsidiary of Woomera (Woomera Exploration Pty Ltd ( WEX )) has the right to earn a 60% equity interest in the tenements by spending $4M over 3 years

• The FIJVA will be subject to a condition precedent that WEX becomes bound by the Aboriginal Heritage Agreement covering the area of the tenements

• Upon WEX earning its 60%, Nanjilgardy Resources Pty Ltd has the one-off election to contribute its 40% going forward, or revert to a 20% Free Carried Interest through to a Decision to Mine ( DTM )

• Nanjilgardy will receive 5 million Woomera shares once CPs are met after execution of the FIJVA, with a voluntary escrow period of 12 months

• Nanjilgardy will receive a further 5 million Woomera shares upon WEX spending the $4M

• WEX agrees to a minimum work programme of $300,000 in Year 1

• WEX agrees to a minimum annual commitment of $300,000 per annum post Year 1

• If Nanjilgardy reverts to a 20% Free Carried Interest it will receive an additional 10 million Woomera shares upon any DTM. Nanjilgardy will not receive the additional Woomera shares if it elects to retain its 40% equity

• Industry standard dilution clauses will apply. If either party dilutes below 10%, they will revert to a 2% Net Smelter Return Royalty

Woomera will fund the initial expenditure on the Wyloo Dome Project out of existing cash reserves and no shareholder approval is required for the FIJVA. It is proposed that the shares to be issued to Nanjilgardy under the FIJVA will come out of the Company’s existing placement capacity under the ASX Listing Rules.

Nanjilgardy and its shareholders are not related parties of the Company nor associates of any Woomera related party.

Wyloo Dome FIJVA Tenement Schedule:

Holder	Tenements	Grant Date	Expiry Date	Area (Blks)	Rents ($)	Rates ($)	Annual Commit. ($)
Nanjilgardy Resources Pty Ltd	EL08/2867	20/10/2017	19/10/2022	13	3,406	4,426.52	30,000
	EL08/2959	25/03/2019	24/03/2024	2	524	1,263.00	15,000
	EL08/3064	23/09/2019	22/09/2024	18	2,628	2,261.77	20,000
	EL08/2833	28/09/2017	27/09/2022	19	4,978	4,177.99	30,000
	EL08/2812	23/11/2016	22/11/2021	12	4,296	1,388.66	30,000

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	EL08/3065	23/09/2019	22/09/2024	22	3,212	2,764.28	22,000
	EL08/3336	Application		34	4,794
TOTAL				120	$23,838	~ $16,282	$147,000

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

For further information please contact:

Ian Gordon Luke Forrestal (Media Relations) Duncan Gordon (Investor Relations) Chair Director, Financial Communications Executive Director Woomera Mining Limited GRA Partners Adelaide Equity Partners + 61 477 306 669 +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 Kevin Seymour. Mr Seymour is a full-time employee of Woomera Mining Limited and is a Member of the Australasian Institute of Mining and Metallurgy with over thirty years of experience in the field of activity being reported. Mr Seymour 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 Seymour consents to the inclusion in the report of matters based on his information in the form and context in which it appears.

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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. 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 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	• 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 field season

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Criteria	JORC Code explanation	Commentary
	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.
Drilling techniques	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core 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). _	• No new drilling is reported in this announcement
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	• 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

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Criteria	JORC Code explanation	Commentary
	logged.
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. • 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.	• No new sampling is reported in this announcement
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 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 in this report • Given the broad spaced (5km) line spacing of the GA data, Woomera intends to infill this dataset with 200m line spaced helicopter borne VTEM and magnetic geophysical survey data as and when a suitable air crew become available

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Criteria	JORC Code explanation	Commentary
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
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased 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.	• No new sampling has been reported in this announcement
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

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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
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	• 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

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Criteria	JORC Code explanation	Commentary
	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.	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 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	• 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 drillingresults aregenerally

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Criteria	JORC Code explanation	Commentary
	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.	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 included for 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.	• Detailed drill hole sections and plans for each prospect must be plotted and interpreted as part of the internal QAQC 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

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Criteria	JORC Code explanation	Commentary
		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	• No new exploration results have been reported in this announcement
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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