ORPHEUS URANIUM LIMITED — Director's Dealing 2023

Nov 8, 2023

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9 November 2023

ASX Limited Exchange Centre 20 Bridge St Sydney NSW 2000 Attention: Ms Yulia Gurdina

Dear Yulia,

Late App3Y

As discussed, it has come to my attention that, due to administrative oversight, App3Ys were not given to ASX at the time of issue of shares in the recent rights issue, being 4 October 2023, to advise the market of the participation in the rights issue by the previous chairman Mr Elliott, and current Executive Chairman Mr Billing.

Mr Billing took up his full entitlement of 90,000 Shares in the entity MBB Trading Pty Ltd, and Mr Elliott acquired 609,738 Shares (post consolidation) in the entity Yeronda Nominees Pty Ltd.

Attached to this letter is the App3Y for Mr Billing.

The Final Director’s Interest Notice lodged with ASX on 26 October for Mr Elliott is correct.

The Company has agreements in place with each Director which address the obligations of Listing Rule 3.19A and believes that the arrangements in place are adequate to ensure compliance with Listing Rule 3.19A in future.

Yours sincerely

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Richard Willson Non-Executive Director & Company Secretary

Registered Office Level 6 100 Pirie Street Adelaide, SA, 5000 Australia

Argonaut Resources NL ABN 97 008 084 848

T +61 8 8231 0381 E adelaide@argonautresources.com