Orion Minerals Limited report further outstanding assay results from the confirmation diamond drilling program in the Flat Mines area at its Okiep Copper Project (OCP) in the Northern Cape, South Africa. The latest results add further momentum to Orion's development strategy for the OCP, building on the initial results reported on 22 April 2024 and 24 June 2024 including an intersection of 49.35m @ 5.05% Cu (refer ASX/JSE release 24 June 2024) at Flat Mine East (FME) among several other high-grade intersections confirming the geology and endowment of the Flat Mines Area. The OCP ground holdings of 641km² cover most of the area where a total of 105Mt is reported to have been mined in the district over the past 100 years.

The Flat Mines area and the current drilling program fall entirely within an executed Mining Right. Results received and reported in this announcement include the first two of the four planned holes at Flat Mine South (FMS). The assay results have confirmed historical information from drilling by Newmont and Goldfields of South Africa (Goldfields) in the 1980's and 1990's, used in the Mineral Resource update, where 9.4Mt at 1.3% Cu was reported for the Flat Mines including 3.4Mt at 1.4% Cu at FMS. Flat Mines Confirmatory Drilling Program: A diamond drilling program commenced in the Flat Mines area of the OCP in February 2024.

A total of 11 diamond core drill holes were planned at FME, FMS and Flat Mine North (FMN) comprising a total of approximately 5,800m. This total includes a non-directional deflection for each hole. The program was designed to confirm historical drilling information and resultant interpretations, provide geotechnical information and deliver additional material for confirmatory metallurgical test work for the FMN, FME and FMS blocks included in the initial BFS mine schedule.

The planned program (, table 1) is specifically designed to optimally cover the areas that contribute most significantly to the overall estimated Indicated Mineral Resource. All holes include a deflection (or wedge) through the mineralisation to provide the additional material for confirmatory metallurgical test work. Drill hole OFMSD076 returned 6.00m at 0.90% Cu from 454.00m.

This is all within a broad zone of promoted copper of 32.32m at 0.63% Cu from 427.68m. Historical hole FMS012, located approximately 20m away from OFMSD076, intersected 34.80m at 0.74% from 447.90m. Historical hole FMS046, located approximately 20m away from OFMSD076, intersected 31.82m at 1.14% from 377.18m.

Drill hole OFMSD077 returned an outstanding intercept of 20.50m at 4.99% Cu from 549.50m within 43.00m at 3.41% Cu from 527.00m. This is all within a broad zone of promoted copper, but inclusive of wider zones of internal waste and lower grade, of 62.00m at 2.51% Cu from 508.00m. Historical hole FMS053D1, located approximately 10m away from ODFMSD077, intersected 38.98m at 2.16% Cu from 574.45m.

Significant widths of waste granitic material are included within the reported intersection widths, providing opportunities for upgrading of material through modern XRF ore sorting techniques to reject internal waste before milling. This provides the potential for optimised metal extraction with larger stopes operated at lower mining cost, while limiting concentrator capital and operating costs. On completion of the drilling program, the geological and mineralisation envelope interpretations will be reviewed and adjusted where necessary, followed by an update of the Mineral Resource Estimate including the new information.

New geotechnical information will be used for input to mine design. Planned confirmatory metallurgical test work includes XRF sorting, comminution, flotation optimisation and tailings characterisation. Detailed geotechnical assessment is also undertaken on all intersections.

Flat Mines Exploration and Resource Upgrade Drilling Program: Three of the five drilling rigs have been retained on site to test for an increase in classification of JORC Resource blocks that are not yet included in the mine plan and to test for extensions of high-grade mineralisation beyond the margins of the current JORC Resource blocks. At FMS, historical Goldfields holes and Orion hole OFMSD077 indicate that high-grade mineralisation remains open down-dip for up to 200m within an untested area encompassing a strike length of 300m. Historical intersections indicating mineralisation with true widths (TW) remaining open down-dip include the following: · 38.98m (25m TW) at 2.16% Cu including 24.45m (16m TW) at 3.06% Cu in FMS053D1; · 18.74m (10m TW) at 4.29% Cu including 15.74m (8m TW) at 4.86% Cu in FMS048; and · 70.96m (34m TW) at 1.21% Cu including 10.24m (5m TW) at 2.81% Cu in FMS047.

Hole OFMSD080 is currently in progress targeting this area, with further holes planned pending interpretation and assay results. Confirmatory drilling is also underway at Flat Mine Nababeep (FMNb), where an Inferred Mineral Resource of 1Mt at 1.4% Cu was previously reported (refer ASX/JSE release 29 March 2021). Original drilling over the main zone of mineralisation was carried out by the Cape Copper Company in the 1940's with 141Kt at 2.72% Cu reported as being subsequently mined in the 1950's. Six holes totalling approximately 480m are initially planned to test and confirm the near-surface mineralisation at FMNb.

Highly mineralised intrusive, similar to that intersected and reporting high grades at FME and FMS, has already been intersected from 6m to 52m in the first drill hole completed at FMNb. Outcropping exposure and drill intersections indicate that FMNb is likely to have a high internal waste content. This style of mineralisation is most suitable for bulk extraction with the application of ore sorting to remove the granitic waste, before milling the higher grade mafic intrusive rock fraction.