UNION STAR METALS LTD — Capital/Financing Update 2021

Feb 21, 2021

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Orion Metals Limited (ASX: ORM) ABN 89 096 142 737 35 Hamish Street, Calamvale, Queensland GPO Box 7115 Brisbane Qld 4001 Phone: 61 7 3272 1725 www.orionmetals.com.au

22 February 2021

Sale of Tanami West Project Completed

On 30 August 2019 ， Orion Metals Limited (Orion / Company) announced that it had entered into a Tenements Sale Agreement with PVW Resources NL (PVW), PVW Tanami Pty Ltd (PVWT) and Rich Resources Investments Pty Ltd (RRI). RRI is a wholly owned subsidiary of Orion.

Under the Tenements Sale Agreement RRI agreed to sell, and PVWT agreed to buy, RRI's interest in the seven exploration tenements comprising the Tanami West Project in Western Australia (Tenements) from RRI for a total of $250,000.

An initial payment of $130,000 was received from PVW with the balance due on ‘completion’. The Orion Board is pleased to announce that all regulatory requirements have now been completed, the Tenements have been transferred to PVWT and the final payment of $120,000 has been received.

In the meantime, the Directors continue to investigate potential sources of funding or any joint venture opportunities to enable Orion to carry out its exploration program at Top Camp, near Cloncurry, Queensland.

The Company also continues to seek out any other potential good attractive assets to further increase value for the benefit of all shareholders.

Authorised for release by the Board of Directors of Orion Metals Limited.

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Bill Lyne Company Secretary Phone: 0418 874 175 Email: blyne@orionmetals.com.au