ORION MINERALS LIMITED - Share Issue Notice under Section 708A(5)(e)

Share Issue – Notice under Section 708A(5)(e)

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


Share Issue – Notice under Section 708A(5)(e)


Orion Minerals Limited (ASX/JSE: ORN) (Orion or the Company) refers to an announcement by the Company on 25
February 2021 regarding a two-tranche Placement to sophisticated and professional investors and Orion non-executive
Director Tom Borman, to fund early-stage works at the fully-permitted and development-ready Prieska Copper-Zinc
Project as well as the potential acquisition of the advanced Okiep Copper Complex (OCC) and a major exploration
push at OCC and the Areachap Province, South Africa.

Orion has today issued 1,388,888 fully paid ordinary shares in the Company (Shares), at an issue price of $0.036 per Share,
finalising Tranche 1 of the Placement.

Orion has also today issued:

 •     1,878,042 Shares, to satisfy the Company’s obligation to issue Shares following the granting of an Option to Orion.
       On 15 February 2021, Orion announced that certain vendors of the Mining and Exploration Data and Premises
       (Sale Assets) in relation to the historical copper mining region known as the Okiep Copper Complex, South Africa
       have granted Orion:

           o    the exclusive right to review the Mining and Exploration Data and utilise the Premises; and
           o    an exclusive option to purchase the Sale Assets (Option).

       In consideration for the vendors granting the Option to Orion, the Company has issued Shares equal in value to
       ZAR1.0M (~$86k) to O’Okiep Australia Pty Ltd at a deemed issue price of $0.046 per Share; and

 •     12,002,929 Shares at a deemed issue price of $0.036 (being the same issue price as Shares issued under the
       Placement) to key management personnel and management of the Company (Personnel), as part of a short
       term incentive (STI) scheme approved by the Board. Orion Personnel are eligible to participate in the STI scheme,
       to receive awards of up to 50% of fixed annual remuneration per annum. The Shares issued to such Personnel
       follows achievement of certain key performance indicators and performance objectives, as previously
       determined by the Board.

In accordance with section 708A(5)(e) of the Corporations Act 2001 (Act), the Company advises as follows:

 1.    this notice is being given under paragraph 708A(5)(e) of the Act;

 2.    the Company issued the Shares without disclosure to investors under Part 6D.2 of the Act;

 3.    as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they
       apply to the Company;

 4.    as at the date of this notice, the Company has complied with section 674 of the Act; and

 5.    all information of the kind that would be required to be disclosed to the market for the purposes of section
       708A(6)(e) of the Act has been disclosed to ASX Limited.



For and on behalf of the Board.


Orion Minerals Limited                                                                            www.orionminerals.com.au
Incorporated in the Commonwealth of Australia
Suite 617, 530 Little Collins Street Melbourne, Victoria 3000                                                ASX Code: ORN
ACN: 098 939 274                                                                                             JSE Code: ORN
Ordinary shares on issue: 3,918m I Options on issue: 234m                                               ISIN: AU000000ORN1



Denis Waddell
Chairman


12 March 2021



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




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Date: 12-03-2021 08:33:00
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