ORBMINCO LIMITED — Interim / Quarterly Report 2018

Jul 26, 2018

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Woomera Mining Limited

Suite 116, 147 Pirie St Adelaide 5000 admin@WoomeraMining.com.au www.WoomeraMining.com.au P: (08) 8232 6201

27 July 2018

ASX Announcement

June 2018 Quarterly Activities Report

Highlights

Exploration

• Cultural Heritage Survey completed over the Company’s Musgrave Block

• tenements paving the way for on-ground exploration activities to commence under the Woomera Mining Limited (WML) – OZ Minerals Limited (OZ) joint venture.

• Strong lithium-beryllium anomaly identified from historic exploration data on E63/108 Lake Dundas.

• Two tenements applied for in Western Australia.

Corporate

• Corporate Office established at Suite 116, 147 Pirie Street Adelaide.

• Registered Office to change to 147 Pirie Street.

Report

1. Woomera’s Musgrave Alcurra-Tieyon Project

Woomera Mining Limited (ASX: WML) in conjunction with the South Australian Native Title Services (SANTS), the Tjayuwara-Unmuru Aboriginal Corporation (TUAC) and OZ Minerals Ltd (ASX: OZL) completed an on-country Cultural Heritage Survey on the 13[th] and 14[th] June 2018. The announcement in relation to the results of the Cultural Heritage Survey were reported to the ASX on 5[th] July 2018. The announcement can be found at:

https://www.asx.com.au/asxpdf/20180705/pdf/43w9v5n4n54ld8.pdf

The Cultural Survey clears the way for the JV partners, WML and OZ, to commence the planned exploration program for copper-nickel-cobalt on WML’s four Musgrave Province tenements.

The Musgrave Alcurra-Tieyon project is the subject of a JV with OZ that enables OZ to earn up to 75% of the project for an expenditure of $7.5m.

The project area lies immediately east of the Anangu Pitjantjatjara Yankunytjatjara ( APY ) lands. The Stuart Highway and the Adelaide-Darwin railway pass through the project area (Figure 1).

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Figure 1 – Musgrave Alcurra-Tieyon project location

The immediate exploration program has been designed to test six areas that have been identified from a combination of aeromagnetic and drill hole geochemical data as shown in Figure 2. A Vector Residual Magnetic Intensity (VRMI) transform has been applied to the pre-existing magnetic data to compensate for remanence and magnetic susceptibility models have been calculated using 3D Magnetic Inversion software. Six of these models will be further refined using data from a ground Moving Loop Electromagnetic (MLEM) survey that is scheduled for Q3 2018.

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Figure 2 – Immediate exploration targets

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The MLEM survey will cover six target areas as shown in (Figure 3). The initial plan is to collect approximately 100 line kilometres of data as detailed in Table 1, however, it is anticipated that the grids will be tightened up as the survey progresses.

The results from this survey will be used to refine the drill hole locations for the following RC drilling program, planned to commence immediately following the MLEM survey.

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Figure 3 - Overview of Moving Loop Electromagnetic grids

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Table 1 – MLEM survey configuration

Figure 4 toFigure 8 below show the locations of drill holes designed to test the VRMI-derived targets relative to the predicted magnetic susceptibility models. WML anticipates that the conductivity models generated from the MLEM survey will provide improved accuracy for the design of the drilling program.

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Figure 4 – Area#1 MacNamara - approximate drill hole locations relative to magnetic susceptibility model (red disc showing footprint of existing EM anomaly)

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Figure 5 - Area#2 Cavanagh - approximate drill hole locations relative to magnetic susceptibility model

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Figure 6 – Area#3 O’Mahony - approximate drill hole locations relative to magnetic susceptibility model

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Figure 7 - Area#4 Healy - approximate drill hole locations relative to magnetic susceptibility model

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Figure 8 - Area#5 Gallagher - approximate drill hole locations relative to magnetic susceptibility model

2. Lake Dundas Project

Woomera’s EL63/1804 is located approximately 160 km south-south-east of Kalgoorlie in the Dundas Mineral Field in Western Australia.

The Lake Dundas tenement was first applied for by Liquid Lithium Pty Ltd, a wholly owned subsidiary of WML, because of its potential for lithium brines. The potential for lithium brines was based on work conducted by Geoscience Australia which highlighted Lake Dundas as having one of the highest lithium concentrations (93-149ppm) in Australia.

In 2013 by the United States Geological Survey published a paper titled “A Preliminary Deposit Model for Lithium Brines” by Dwight Bradley, LeeAnn Munk, Hillary Jochens, Scott Hynek, and Keith Labay.

This paper discusses closed basins in arid regions that can be exploited for their lithium salts and notes that all producing lithium brine deposits share the following characteristics:

• Occur in an arid climate;

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• Is part of a closed basin;

• Has experienced tectonically driven subsidence;

• Has associated igneous or geothermal activity;

• Has suitable lithium source rocks - the tenement is underlain by Archean granite, granitic gneiss and minor mafic intrusive rocks;

• Has one or more aquifers; and

• Sufficient time to concentrate a brine.

Lake Dundas, and other salt lakes in the region, share these attributes.

A review of Open File information identified a significant lithium-beryllium anomaly (peak values of 71.4 ppm lithium and 4.4 ppm beryllium) in a comprehensive soil auger sampling program conducted by AngloGold Ashanti Australia in 2009-2010 consisting of 7,212 samples (Figure 9). The announcement in relation to the lithium-beryllium soil anomaly at Lake Dundas was reported to the ASX on 2[nd] July 2018. The announcement can be found at:

https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01995747

The anomaly is adjacent to and within Woomera’s EL63/1804 as shown in Figure 10.

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Figure 9 - Location of Woomera Mining Limited’s EL63/1804 relative to comprehensive historic auger soil sampling

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Figure 10 - Historic auger soil sample lithium values in ppm

The presence of such a pronounced lithium and beryllium anomaly in the north-eastern portion of the tenement suggests that hard-rock lithium-pegmatites might be present on the edge and potentially under the lake.

3. Tenement Applications

Woomera applied for two new tenements in Western Australia, Binneringie located on the northern shore of Lake Cowan between the Paris gold mine and the Bald Hill lithium mine and Mount Cattlin, adjacent Galaxy Resources lithium mine at Ravensthorpe.

The prospectivity of the ground for hard-rock lithium deposits was identified during a reconnaissance field program conducted on the Company’s Cowan and Ravensthorpe tenements in April 2018. That reconnaissance, coupled with the knowledge that the ground was available for mining, led to the applications being made for the two tenements.

Woomera now has 12 granted tenements and applications in Western Australia considered by WML to be prospective for hard-rock lithium and lithium brines.

3.1 Binneringie Project

The Binneringie project is located on the northern shore of Lake Cowan and close to the western margin of the NNW trending Archaean Norseman-Wiluna Greenstone Belt, in the Kambalda Domain of the Eastern Goldfields in Western Australia (Figure 11 and Figure 12).

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Figure 11- Location of WML’s existing E15/1532 and the tenement application E15/1652

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Figure 12 - Location of WML’s existing E15/1532 and the tenement application E15/1652 relative to prospective geology

The Kambalda Domain is best known for hosting the largest gold mines in the region, including the Golden Mile, New Celebration and the St Ives Gold Mines. The area is underlain by a sequence of strongly folded and faulted metamorphosed Archaean volcanics and intrusive rocks which have been intruded by Archaean granitoids and Proterozoic gabbro/dolerite dykes (the largest being the Binneringie Dyke which cuts through the project area.

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Locally, Archean granitic rocks are dominated by massive to moderately foliated monzogranites to quartz monzonites.

The area is under explored and there is no record of systematic lithium focused exploration in the 50km[2] project area.

Pegmatite hosted lithium mineralisation at the Bald Hill lithium-tantalum mine is located approximately 15km to the east of the new tenement application E15/1562. The Bald Hill lithium-tantalum mine has an Indicated and Inferred Mineral Resource of 12.8Mt at 1.18% Li2O and 158ppm Ta2O5 at a 0.5% Li2O cut-off (Tawana website).

Based on proximity to Bald Hill and references by GSWA (2008) to the abundance of pegmatite dykes, WML considers that there is potential for hard rock pegmatite hosted mineralisation warranting further investigation.

3.2 Mount Cattlin Project

The Mt Cattlin Project is located along the boundary of the Ravensthorpe Terrane which forms part of the Archaean Ravensthorpe greenstone belt.

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Figure 13 - Location of E74/632 relative to WML’s existing Mt Cattlin tenements

Locally the geology is dominated by gneissic granitoid rocks including trondhjemite, tonalite, granodiorite, and syenogranite. The south eastern boundary of the tenement abuts mafic and ultramafic volcanics of the Carlinup Terrane.

The Mt Cattlin project is considered prospective for hard rock lepidolite and spodumene mineralisation based primarily on geological and structural analogues drawn from Galaxy’s Mt Cattlin lithium deposit located approximately 10km to the southeast.

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WML considers that the 37 km[2] project area is under explored. There is no record of previous lithium focused exploration in the project area. GSWA mapping indicates that structurally controlled lithium hosted pegmatites are widespread throughout the area.

4. Tenement Status

The Company’s key assets include 21 tenements and tenement applications covering 6,598km[2] in the Gawler Craton and Musgrave Province in South Australia, and the Pilbara and South East Yilgarn in Western Australia. The land surrounding the Company’s assets in the Gawler Craton and Musgrave Province is tightly held, with ownership dominated by the Australia’s largest mining companies.

The current status of the Company’s tenement holding is set out below.

South Australian Granted Tenements

Tenement Name	Number	Location	Area (km²)	Expiry/next renewal date	Holder
Sundown	EL 6091	Musgrave Province	768	10 October 2018	WEX
Mount Howe	EL 6092	Musgrave Province	854	10 October 2018	WEX
Mount Irwin	EL 5287**	Musgrave Province	503	24 June 2018	Norsa
Tieyon Station	EL 6090	Musgrave Province	938	11 January 2019	WEX
Mount Carulinia	EL 6133	Gawler Craton	401	10 October 2018	WEX
Whymlet	EL 6134	Gawler Craton	266	28 November 2018	Held by WEX
Tallaringa	EL 5116 (SELA 2017/00183)	Gawler Craton	459	28 November 2017**	Held by WEX

Note :

** the Exploration Licence is in its final term and a Subsequent Exploration Licence Application has been submitted. This is in effect a renewal application of an existing tenement.

South Australian Applications for New Tenements

Tenement Name	Number	Location	Area (km²)	Status	Notes
Great Central Desert	ELA 2012/00119	Gawler Craton	929	Application	Application by Norsa.
Great Victorian Desert	ELA 2012/00120	Gawler Craton	848	Application	Application by Norsa.

Western Australian Granted Tenements

WML’s tenements are held by Volt Lithium Pty Ltd and Liquid Lithium Pty Ltd which are wholly owned subsidiaries of Woomera Mining Limited.

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Tenement Name	Number	Location	Area (km²)	Status	Expiry Date	Notes
Magpie Range Pilgangoora	E45/4790	Central Pilbara	64	Granted	6 June 2022	Volt Lithium
Peak Charles Salt Lake	E74/596	SE Yilgarn	92	Granted	3 May 2022	Volt Lithium
Mt Cattlin East	E74/597	SE Yilgarn / Ravensthorpe	56	Granted	3 January 2022	Volt Lithium
Lake Dundas	E63/1804	SE Yilgarn/ Norseman	57	Granted	30 April 2022	Liquid Lithium
Lake Sharpe	E74/598	SE Yilgarn	60	Granted	27 April 2022	Liquid Lithium
Mt. Cattlin East West	E74/599	SE Yilgarn / Ravensthorpe	40	Granted	17 January 2022	Liquid Lithium
Magpie Range West	E45/4796	Central Pilbara	29	Granted	4 July 2022	Liquid Lithium
Lake Cowan	E15/1532	SE Yilgarn/Norseman	3	Granted	4 May 2022	Liquid Lithium

Western Australian Applications for New Tenements

Tenement Name	Number	Location	Area (km²)	Status	Notes
Turner Siding Pilgangoora	E45/4789	Central Pilbara	57	Application	Volt Lithium
Dumbleyung Salt Lake	E70/4870	SE Yilgarn	86	Application	Volt Lithium
Binneringie	E15/1652	SE Yilgarn/Norseman	51	Application	Woomera Mining Ltd
Mt Cattlin	E74/632	Ravensthorpe	37	Application	Woomera Mining Ltd

5. September Quarter Exploration Plan

The Exploration Plan for the three months ending 30 September 2018 is:

Musgrave Alcurra-Tieyon Project

• Complete the ground based Moving Loop Electromagnetic Survey over the MacNamara, Cavanagh, O’Mahony, Healy, Gallagher and Walsh geophysical anomalies.

• Complete approximately 3,850m of RC drilling to test the geophysical anomalies.

Carulinia Project

• Carulinia is a substantial coincident gravity (14 Mgal) and magnetic (1000nT) anomaly that has striking similarities to the signatures over Olympic Dam and Carrapateena. WML will contact the Native Title Claimants to either negotiate a NTMA or become a party to the existing ILUAs.

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Labryinth Project

• The Labryinth Project lies in the Infrequent Defence Use (Green) Zone within the Woomera Prohibited Area in the Gawler Craton approximately 30 km north-west of Kingoonya. WML will contact the Native Title Claimants to discuss becoming a signatory to the existing ILUA.

Pilgangoora Project

• At Pilgangoora WML will undertake field reconnaissance to better define the corridor considered prospective to host spodumene bearing pegmatites as a precursor to soil sampling.

Mt Cattlin Project

• WML’s tenure lies close to Galaxy’s Mt Cattlin Spodumene Mine containing a Resource of 16Mt @ 1.08% Li2O and 5.2 Mlbs Ta2O3 (ASX: GXY 2 June 2017). WML will contact local freehold farmers to negotiate access to conduct auger soil sampling.

COMPETENT PERSONS STATEMENT

The exploration results reported herein, insofar as they relate to mineralisation, are based on information compiled by Mr Gerard Anderson, Managing Director of Woomera Mining Limited. Mr Anderson is a Member of the Australasian Institute of Mining and Metallurgy who has over forty-two years of experience in the field of activity being reported. Mr Anderson 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 Anderson consents to the inclusion in the report of matters based on his information in the form and context in which it appears.

For further information contact:

Gerard Anderson Managing Director Woomera Mining Limited

Peter Taylor Investor Relations 0412 036 231 Peter@nwrcommunications.com.au

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