ORION MINERALS LIMITED - Orion Minerals Raises $0.35M to resume exploration drilling

Orion Minerals Raises $0.35M to resume exploration drilling

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
(“Orion” or “the Company”)


Orion Minerals Raises $0.35M to resume exploration drilling


-   Placement of approximately $0.35M to a sophisticated and professional investor at $0.033 per Share.

-   Funds to be used to resume exploration activities, including drilling, at the Company’s exploration projects
    located in South Africa’s Northern Cape Province.

Orion Minerals Limited (ASX/JSE: ORN) (Orion or the Company) is pleased to announce a $0.35 million capital
raising to a South African sophisticated and professional investor. The capital raising comprises the issue of 10.5
million fully paid ordinary shares (Share) at an issue price of $0.033 per Share (being the AUD equivalent of ZAR40
cents per Share) (Placement).

Orion intends to utilise the proceeds from the Placement to resume exploration activities, including drilling, at the
Company’s exploration projects in South Africa’s Northern Cape Province and for general working capital
purposes. The Company expects to announce details of these planned exploration activities shortly.

The issue of the Shares does not require Shareholder approval under the ASX Listing Rules as the Shares will be
issued within the Company’s placement capacity under ASX Listing Rule 7.1. However, ratification of the issue will
be sought from Shareholders pursuant to ASX Listing Rule 7.4 at the Company’s Annual General Meeting, to be
held in November 2020, to allow for future equity fundraising flexibility.

An Appendix 3B for the proposed issue of Shares will follow this announcement.

For and on behalf of the Board.



Errol Smart
Managing Director and CEO

29 September 2020



ENQUIRIES

Investors                                Media                                 JSE Sponsor
Errol Smart – Managing Director & CEO    Nicholas Read                         Monique Martinez
Denis Waddell – Chairman                 Read Corporate, Australia             Merchantec Capital
T: +61 (0) 3 8080 7170                   T: +61 (0) 419 929 046                T: +27 (0) 11 325 6363
E: info@orionminerals.com.au             E: nicholas@readcorporate.com.au      E: monique@merchantec.co.za


Disclaimer

This release may include forward-looking statements. Such forward-looking statements may include, among other things,
statements regarding targets, estimates and assumptions in respect of metal production and prices, operating costs and results,
capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates, and are or may be
based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.
These forward-looking statements are based on management’s expectations and beliefs concerning future events. Forward-
looking statements inherently involve subjective judgement and analysis and are necessarily subject to risks, uncertainties and
other factors, many of which are outside the control of Orion. Actual results and developments may vary materially from those
expressed in this release. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-
looking statements. Orion makes no undertaking to subsequently update or revise the forward-looking statements made in this
release to reflect events or circumstances after the date of this release. All information in respect of Exploration Results and
other technical information should be read in conjunction with Competent Person Statements in this release (where
applicable). To the maximum extent permitted by law, Orion and any of its related bodies corporate and affiliates and their
officers, employees, agents, associates and advisers:
-     disclaim any obligations or undertaking to release any updates or revisions to the information to reflect any change in
      expectations or assumptions;
-     do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the
      information in this release, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or
      implied in any forward-looking statement; and
-     disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for
      negligence).

Date: 29-09-2020 08:21:00
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