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ORION MINERALS LIMITED - Anglo American sefa Mining Fund extends term of Loan Facility advanced for the Prieska Copper-Zinc Project

2021/05/04 08:18:00

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                    Anglo American sefa Mining Fund extends term of Loan Facility advanced for the Prieska Copper-Zinc Project

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

Anglo American sefa Mining Fund extends term of Loan Facility advanced for the Prieska Copper-
Zinc Project

-   Value-adding South African institutional investor, Anglo American sefa Mining Fund (AASMF) extends the
    term of the ZAR14.25 million (~$1.3 million) Loan Facility, confirming its continued support of Orion.

-   Loan Facility repayment date extended to 31 October 2021.

Orion Minerals Limited (ASX/JSE: ORN) (Orion or the Company) is pleased to announce that it has reached agreement
with value-adding South African institutional investor, Anglo American sefa Mining Fund (AASMF) to extend the term of
the ZAR14.25 million Loan Facility from 30 April 2021 to 31 October 2021.

In November 2015, Prieska Copper Zinc Mine (Pty) Ltd (Prieska), (a 70% owned subsidiary of Orion) and AASMF entered
into a ZAR14.25 million (~$1.3 million) loan agreement for the further exploration and development of the Prieska Copper-
Zinc Project (Loan Facility). Under the terms of the Loan Facility, on 1 August 2017, AASMF advanced ZAR14.25 million to
Prieska. The key terms of the Loan Facility are:

    •   Loan amount: ZAR14.25 million (~$1.3 million);

    •   Interest: Prime lending rate in South Africa;

    •   Repayment date: 31 October 2021 (previously 30 April 2021); and

    •   Security: 29.17% of the shares held in Prieska by Agama Exploration and Mining (Pty) Ltd (a wholly owned
        subsidiary of Orion), have been pledged as security to AASMF for the performance of Prieska's obligations in
        terms of the Loan Facility.

As at 31 March 2021, the balance of the Loan Facility was ZAR20 million (~$1.8 million) (including capitalised interest).

About Anglo American Sefa Mining Fund

Launched in 2003, the AASMF is a joint initiative between Anglo American Zimele (Pty) Ltd - Anglo American’s enterprise
development programme which has been at the forefront of supporting small and medium enterprises (SMEs) in South
Africa for over 30 years - and Small Enterprise Finance Agency (sefa) formerly known as Khula Enterprise Finance Limited,
a government-owned entity that promotes small and medium enterprise development.

As a value-adding relationship investor, the Anglo American sefa Mining Fund helps such mining enterprises that applied
before March 2017 with equity and loan finance at prime interest rates p.a., complemented by technical support during
the high-risk exploration and pre-feasibility stages of projects – which can get extremely complicated. This Fund brings
its beneficiaries’ businesses to commercially bankable positions at which point such beneficiaries can approach lenders
and raise finance to get their mining operations commissioned.
For and on behalf of the Board.

Errol Smart
Managing Director and CEO

4 May 2021


 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


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-
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Date: 04-05-2021 08:18:00
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