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 15 March 2023
regarding a $13 million capital raising, conducted via a two-tranche placement to sophisticated and professional
investors, pursuant to Section 708A of the Corporations Act 2001 (Placement).

The Placement comprised the issue of approximately 882 million fully paid ordinary shares (Share) at an issue price
of $0.015 (being ZAR18 cents) per Share and the issue of four free attaching unlisted options for every Share issued
(approximately 3.53 billion unlisted options at an exercise price of $0.017 (being ZAR20 cents) and an expiry date
of 30 November 2023) (Options).

Some of these Options have now been exercised by an option holder, and Orion has today issued 133,333,332
Shares following receipt of the aggregate exercise price of $2.27 million.

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 and section 674A 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

17 November 2023


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.martinez@merchantec.com

Date: 17-11-2023 07:32:00
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