Release of Escrowed Shares Orion Minerals Limited Incorporated in the Commonwealth of Australia Australian Company Number 098 939 274 ASX share code: ORN JSE share code: ORN ISIN: AU000000ORN1 RELEASE OF ESCROWED SHARES Orion Minerals Ltd (ASX/JSE: ORN) (Orion or the Company) announced on 29 March 2017, that it had completed the acquisition of Agama Exploration & Mining (Pty) Ltd (Agama), an unlisted South African registered company. Following the acquisition, through Agama’s subsidiary companies, Orion now holds an effective 73.33% interest in the Prieska Zinc-Copper Project, located at Copperton, Northern Cape Province, South Africa and the Marydale Gold Project, located 60km from the Prieska Project. The purchase consideration paid on settlement of the Agama acquisition, included the issue of 94,321,464 Orion ordinary fully paid shares (Shares) and 94,321,464 unlisted Orion options (exercisable at 4.62 cents at any time until 29 March 2019) (refer ASX release 29 March 2017). Shares issued to the Agama vendors were subject to a 6-month voluntary escrow period ending 29 September 2017 and 75% of the Shares issued to the Agama vendors were subject to a 12-month voluntary escrow period ending 29 March 2018. Orion provides notice that in accordance with Listing Rule 3.10A, 70,741,100 Shares were released from voluntary escrow on 29 March 2018. Errol Smart Managing Director and CEO 29 March 2018 Errol Smart Managing Director and CEO ENQUIRIES Investors JSE Sponsor Errol Smart – Managing Director & CEO Rick Irving Denis Waddell – Chairman Merchantec Capital T: +61 (0) 3 8080 7170 T: +27 (0) 11 325 6363 E: info@orionminerals.com.au E: rick@merchantec.co.za Media Michael Vaughan Barnaby Hayward Fivemark Partners, Australia Tavistock, UK T: +61 (0) 422 602 720 T: +44 (0) 207 920 3150 E: michael.vaughan@fivemark.com.au E: orion@tavistock.co.uk Suite 617, 530 Little Collins Street Melbourne, VIC, 3000 Date: 29/03/2018 09:46:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.