ORBMINCO LIMITED — Capital/Financing Update 2022

Feb 27, 2022

28 February 2022

ASX ANNOUNCEMENT

Woomera to Commence Exploration over Key Lithium Tenements

Highlights

• With rising demand for battery metals, Woomera has completed a review across its entire lithium exploration portfolio

• Woomera’s lithium projects are spread throughout Western Australia and lie in close proximity to existing lithium operations including Pilbara Minerals’ Pilgangoora mines and Mineral Resources’ Wodgina mine in the Pilbara plus Allkem’s Mt Cattlin mine, near Ravensthorpe

• Woomera intends to conduct an exploration program for hard rock spodumene-rich mineral resources close to Pilgangoora/Wodgina and Mt Cattlin as well as drill for sedimentary lithium carbonate within its Lake Dundas Project, south of Norseman and the Bald Hill lithium deposit

• Exploration on the Pilbara tenements will focus on testing for blind lithium-caesium-tantalum (LCT) enriched pegmatites proximal to the known pegmatite outcrops

• At Lake Dundas Woomera will drill test for buried thicknesses of lithium carbonate within flat lying Tertiary lacustrine sediments across the salt lake environment

• Ravensthorpe exploration will look for steep-dipping link structures and shallow parallel pegmatite lodes north of the Mt Cattlin deposit where they are projected to dip into Woomera’s land package

• The Company has also received a number of offers to acquire the projects which will be considered by the Board in due course

Lithium Exploration Program

Woomera Mining Limited (ASX: WML) ( Woomera or the Company ) is pleased to provide an update on the Company’s plans for its wholly owned package of lithium exploration projects, strategically located in Western Australia’s Pilbara Craton (Figure 1) and Yilgarn Craton (Figure 2) and adjacent to operating lithium mines.

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Woomera intends to move forward with exploration programmes across its tenement position to test the licences’ lithium prospectivity.

Pilbara Lithium Project

The Company holds two granted exploration licences and one exploration licence application in the Pilbara Craton close to the Pilgangoora and Wodgina mines. Previous lithium exploration drilling over the tenements was completed by Woomera in 2018 during a period of depressed lithium prices. Consequently no follow-up exploration has ever been completed.

Woomera now intends to extend the geochemical coverage away from the pegmatites intersected in the drilling to vector to LCT-rich zones/lenses within the intrusive sills that pervade throughout the tenements.

Lake Dundas (Lithium Carbonate) Project

Lake Dundas is believed to be enriched in lithium minerals based upon historical WA Department of Mines, Industry and Regulation’s open file (WAMEX) shallow auger soil sampling results up to 54ppm Li and comparative enrichments in lithium bearing salt lakes around the world (Figure 3)[(1)] . Adding to the project’s prospectivity is its the proximity to Alliance Mineral Assets’ Bald Hill lithium deposit and the Mt Dean lithium occurrences south of the Norseman township. Woomera considers that there is potential for Lake Dundas to act as a trap site and concentrate lithium minerals within the flat-lying lacustrine lake sediments.

The Company will drill a fence of vertical Aircore holes along the eastern shore of Lake Dundas where better thicknesses of lacustrine clays are believed to focus. The drilling remains subject to suitable rig availability and statutory approvals.

Ravensthorpe (Mt Cattlin) Lithium Project

Woomera believes there is good potential for the Mt Cattlin LCT pegmatite field to be more extensive than has been identified around the mine. The pegmatites may extend into Woomera’s Ravensthorpe Project based upon the potential for multiple causitve granite intrusions and the relative timing of the LCT pegmatite intrusions into known breaks/faults thorughout the greenstone belt. Woomera intends to complete surface sampling looking for leakage from deeper link structures and /or sub-parallel pegmatite sills within its tenement.

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Lithium Licenses Summary Table:

WML Entity	Tenement Number	Project name	Grant Date
Volt Lithium	EL45/4790	Pilbara	7/6/2017
Liquid Lithium	EL45/4796	Pilbara	5/7/2017
Volt Lithium	EL45/4789	South Pilbara (Turner Siding)	Application
Woomera	EL15/1652	Lake Cowan	12/11/2019
Liquid Lithium	EL15/1532	Lake Cowan	5/5/2017
Liquid Lithium	EL63/1804	Lake Dundas	1/5/2017
Woomera	EL74/632	Ravensthorpe (Mt Cattlin)	12/3/2019

The Company further intends to transfer its lithium assets into one entity – Liquid Lithium Pty Ltd.

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

For further information please contact:

Kevin Seymour Luke Forrestal (Media Relations) Managing Director Director, Financial Communications Woomera Mining Limited GRA Partners + 61 400 027 730 +61 411 479 144

Duncan Gordon (Investor Relations)

Executive Director Adelaide Equity Partners + 61 404 006 444

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Figure 1: Woomera’s granted Pilbara Lithium project and South Pilbara application

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Figure 2: Woomera’s southern Yilgarn Lithium projects

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.

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Figure 3: Lithium concentrations as a function of chloride for productive lithium salt lake mineral systems. The large blue dot and blue line represents sea water. The black line is the trend at 500 times enrichment in lithium compared to seawater. The large blue cross depicts the Lake Dundas soil geochemistry peak (54ppm Li) and chlorite salinities in Lake Dundas (>50,000ppm Cl). It plots close the cluster of lithium productive salt lakes in South America and China, suggesting more sampling is required within the lake

• (1) www.ga.gov.au/corporate_data/76454/Rec2013_039.pdf A Review of of Australian Salt Lakes and Assessment of their Potential for Strategic Resources

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 may reference previously reported exploration results extracted from the Company’s announcements. 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.

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