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 its announcement on 22 June 2022 regarding a
capital raising to sophisticated and professional investors, Orion non-executive Director Tom Borman and Orion Chairman
Denis Waddell, to fund advancement of early production strategy at its South African base metal projects in the Northern
Cape Province of South Africa.

The capital raising, which is being conducted via a three-tranche placement to sophisticated and professional investors,
pursuant to Section 708A of the Corporations Act 2001 (Placement), comprises up to 1,000 million fully paid ordinary shares
(Share) at an issue price of $0.02 (being ZAR22 cents) per Share and, in respect of the first two tranches, the issue of one free
attaching option for every two Shares issued (151 million unlisted options at an exercise price of $0.025 (being ZAR27.5 cents)
and an expiry date of 30 June 2023) (Options).

Orion has today issued 100,000,000 Shares at an issue price of $0.02 per Share and 50,000,000 Options (Placement One
Securities), following receipt of funds from investors for commitments pursuant to Placement One of the Placement. The
Company has received commitments for the balance of Placement One (being $1.1 million) and these Shares and Options
are expected to be issued shortly.

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 Placement One Securities 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.



Denis Waddell
Chairman


24 June 2022


ENQUIRIES

 Investors                                   Media                                        JSE Sponsor
 Errol Smart – Managing Director &           Nicholas Read                                Monique Martinez
 CEO
 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

Date: 24-06-2022 08:05:00
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