ORBMINCO LIMITED — Interim / Quarterly Report 2021

Apr 22, 2021

Suite 116, 147 Pirie St Adelaide SA 5000 +61 8 2326201 admin@WoomeraMining.com.au www.WoomeraMining.com.au

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Woomera Mining Limited ACN 073 155 781

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23 APRIL 2021

MARCH 2021 - QUARTERLY ACTIVITIES REPORT

Highlights:

• Subsequent to the Quarter’s end, the Company received commitments to raise $2.5 million (before costs) to fast track its Mt Venn Gold & PGE/Ni-Cu exploration programmes

• Mr Kevin Seymour commenced his role as Managing Director on 1 February, 2021

Exploration Guidance:

• An RC drilling programme at the Three Bears Prospect is scheduled to commence in the June Quarter to follow up significant open-ended mineralisation including:

• 18m at 0.3 g/t Au from 32m

• 19m at 1.0 g/t Au from 32m

• 36m at 0.5 g/t Au from 28m

• An Aircore drilling programme has been designed to run concurrently with the RC drilling programme and will test for extensions to known laterite mineralisation, including 4m at 1.0 g/t Au from surface

Mt Venn Gold & PGE/Ni-Cu Project (80% WML : 20% CAZ)

Woomera’s flagship Mt Venn Gold & PGE/Ni-Cu Project ( Mt Venn ) is located 125km north east of Laverton in Western Australia. It is situated along the western limb of the highly prospective Yamarna Greenstone Belt that hosts Gold Road’s and Gold Fields’ plus 6Moz Gruyere Gold Mine (Figure 1).

Three Bears Gold Prospect

During the March Quarter the Company finalised its work programmes for Aircore and RC drilling over its Three Bears Gold Prospect at Mt Venn (Figure 1). Subject to finalising heritage surveys, Woomera intends to commence the drilling programmes during May this year.

Woomera has identified the Three Bears Gold Trend, that extends over 7km strike, to be highly prospective for gold mineralisation and as such it warrants deeper RC drilling. A programme of 8,500m of RC drilling has been planned over an initial 4km of the trend (Figure 2). The drilling will follow-up on highly significant bottom of hole Aircore drilling results including 18m at 0.3 g/t Au from 32m and 19m at 1.0 g/t Au from 32m plus previous limited RC drilling intersections up to 36m at 0.5 g/t Au from 28m, that remain open down plunge and along strike.

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Aircore drilling is planned to the west of the Three Bears Lodes. It will scope for extensions to known surface laterite gold mineralisation (up to 4m at 1.0 g/t Au) as well as test the granite-greenstone contact, which is predicted to be up to 500m west of the known lode intersections at Three Bears.

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Figure 1: Mt Venn Project with the Three Bears Prospect located 40km west of the 6Moz Gruyere Gold Mine.

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Figure 2: Proposed 80m x 80m RC collars and 800x50m Aircore traverses over the Three Bears Prospect – Mt Venn Project

Musgrave Project (100% WML)

A review of the Company’s Musgrave Project commenced late in the Quarter. The Company believes the project is prospective for nickel-copper-PGE mineralisation similar to Oz Minerals’ West Musgrave Project which hosts the Nebo-Babel deposits. Oz Minerals report Ore Reserves of 253Mt at 0.32% Ni + 0.35% Cu at the Nebo-Babel deposits[(1)] .

Woomera’s Musgrave Project extends over 2000km[2] , encompassing numerous poorly explored intrusive mafic/ultramafic sills. Given the scale of the project Woomera is seeking South Australian Government AEI funding and/or a farm-in/JV partner to advance drilling over several magnetic anomalies.

Labyrinth Project (100% WML)

The 100% owned Labyrinth Project in the Gawler Craton is prospective for Olympic Dam (IOCG) Cu-Au deposits. The priority drill target is a 1.0km x 0.5km coincident gravity/magnetic anomaly. Heritage clearance negotiations are continuing and a funding partner will be sought once access is secured.

Lithium Projects (100% WML)

During the Quarter the Company announced it would undertake a strategic review of its Lithium Projects located throughout Western Australia. The review is ongoing as the Company evaluates the prospectivity of its strategic land holdings which are located proximal to a number of operating lithium mines.

(1). See OZ Minerals’ Mineral Resource and Ore Reserve Statement ASX Release for the West Musgrave Project – Nebo-Babel Deposits dated 9 December 2020

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Corporate

Appointment of Managing Director

Mr Kevin Seymour joined the Company as Managing Director on 1 February 2021. Kevin is an experienced, highly credentialled exploration geologist with broad experience in a variety of commodities and geological terrains. He was formerly the General Manager of Exploration at Ramelius Resources Ltd. Prior to being employed by Ramelius, Kevin held senior exploration roles with Ashton Gold Ltd, Delta Gold Ltd, Sons of Gwalia Ltd and Glengarry Resources Ltd.

Capital Raising

Subsequent to the end of the Quarter, Woomera announced that it had received binding commitments for a share placement of approximately 147 million ordinary shares ( Shares ) to institutional, professional and sophisticated investors ( Placement ) to raise approximately $2.5 million.

Share Purchase Plan

In addition to the Placement, the Company is offering existing shareholders with registered addresses in Australia and New Zealand and holding shares on the record date of 9 April 2021, the opportunity to subscribe for up to $30,000 or 1,764,706 fully paid ordinary shares under a Share Purchase Plan ( SPP ). The SPP will close 24 May 2021 and will be capped at a total of $212,500.

Tenement Status

The status of the Company’s tenement holding as at 31 March 2021 is set out below.

South Australian Granted Tenements

Project Name	Number	Location	Area (km²)	Expiry/next renewal date	Holder
Musgrave (MountIrwin)	EL 6180	Musgrave Province	503	24 June 2021	Norsa
Labyrinth (Whymlet)	EL 6134	Gawler Craton	266	28 November 2020	WEX
Musgrave (Sundown Stn)	EL 6342	Musgrave Province	760	2 May 2021	WML
Musgrave (Mt Howe)	EL 6343	Musgrave Province	854	2 May 2021	WML

Western Australian Applications for New Tenements

Project Name	Number	Location	Area **(km²) **	Status	Holder
Pilgangoora - Li (Turner Siding)	E45/4789	Central Pilbara	57	Application	Volt Lithium

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Broomehill	E70/5750	Western Gneiss Terrane	77	Application	Woomera Exploration Pty Ltd
Mt Venn JV	E38/3581	NE Goldfields	172	Application	Yamarna West Pty Ltd (80%)

Western Australian Granted Tenements

Project Name	Number	Location	Area (km²)	Expiry Date	Holder
Pilgangoora - Li (Magpie Range)	E45/4790	Central Pilbara	64	6 Jun 2022	Volt Lithium Pty Ltd
Bald Hill West - Li (Lake Dundas)	E63/1804	Norseman	57	30 Apr 2022	Liquid Lithium Pty Ltd
Ravensthorpe - Li (Mt. Cattlin West)	E74/599	Ravensthorpe	40	17 Jan 2022	Liquid Lithium Pty Ltd
Pilgangoora – Li (Magpie Range West)	E45/4796	Central Pilbara	29	4 Jul 2022	Liquid Lithium Pty Ltd
Bald Hill West – Li (Lake Cowan)	E15/1532	Norseman	3	4 May 2022	Liquid Lithium Ltd
Ravensthorpe – Li (Mt. Cattlin Central)	E74/632	Ravensthorpe	37	11 Mar 2024	WML
Bald Hill West – Li (Binneringie)	E15/1652	Norseman	51	11 Nov 2024	WML
Mt Venn JV	E38/3111	NE Goldfields	206	23 Nov 2021	Yamarna West Pty Ltd (80%
Mt Venn JV	E38/3150	NE Goldfields	191	28 Feb 2022	Yamarna West Pty Ltd (80%)

This ASX Announcement

This ASX announcement has been approved by Woomera Mining’s Board of Directors.

For further information regarding this release or about Woomera Mining Limited please contact the undersigned below.

Kevin Seymour

Managing Director

Woomera Mining Limited

• 61 400 027 730

Duncan Gordon

Executive Director Adelaide Equity Partners Limited + 61 404 006 444

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ASX Releases during the March Quarter 2021

DATE	DESCRIPTION OF ANNOUNCEMENT
17/03/2021	Investor Presentation
09/03/2021	Half Yearly Report and Accounts
12/02/2021	Mt Venn JV Update – Chapman’s Reward RC Drilling
11/02/2021	Strategic Review of Lithium Projects
01/02/2021	Change in substantial holding
01/02/2021	Appendix 3X – Kevin Seymour
01/02/2021	Commencement of Managing Director
29/01/2021	Quarterly Cashflow Report
29/01/2021	Quarterly Activities Report
22/01/2021	Appendix 2A – Underwriter Options

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 a Member of the Australasian Institute of Mining and Metallurgy who has over thirty-five 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.

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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About Woomera Mining Limited

Woomera Mining Limited (Woomera) is an ASX listed exploration company based in Adelaide, South Australia with its primary focus being the Mt Venn Greenstone Belt in Western Australia (Mt Venn Gold & PGE/Ni-Cu Project) where it has identified a number of high-priority, drill-ready gold and nickel-copper-PGE targets. The Company retains tenements in the Musgrave Province and Gawler Craton of South Australia which are considered prospective for precious and base metals.

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