Acquiring a commanding land position in the Fraser Range Creasy - - PowerPoint PPT Presentation

1

Acquiring a commanding land position in the Fraser Range

• Creasy deal adds approximately 2600km2 of highly

prospective tenements to Fraser Range landholdings

• Compelling Nickel-Copper targets already defined at

Orion’s Peninsula Ni Project

• Follow up ground geophysics underway
• Drilling scheduled for 2013

Investor Presentation

August 2013

ASX Code: ORN

2

Disclaimer and Forward-Looking Statements

• Certain statements contained in this presentation, including information as to the future financial or operating

performance of Orion Gold NL and its projects, are forward-looking statements. Such forward-looking statements:

• are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Orion Gold NL, are inherently

subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies;

• involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or

anticipated events or results reflected in such forward-looking statements; and

• may include, among other things, statements regarding targets, estimates and assumptions in respect of metal production and prices,
• perating 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.

• Orion Gold NL disclaims any intent or obligation to update publicly any forward-looking statements whether as

a result of new information, future events or results or otherwise.

• The words 'believe', 'expect', 'anticipate', 'indicate', 'contemplate', 'target', 'plan', 'intends', 'continue', 'budget',

'estimate', 'may', 'will', 'schedule' and similar expressions identify forward-looking statements.

• All forward-looking statements made in this presentation are qualified by the foregoing cautionary statements.

Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

• All information in respect of Exploration Results should be read in conjunction with the Competent Person

Statements at the end of this presentation.

3

Transaction

Tropicana Nova

• Acquisition of a majority interest (70%) in

2,628km2

• f

tenements from entities associated with the Creasy Group.

• Four granted exploration licenses (1,011km2)

and three contiguous applications (1,617km2).

• Tenements are located in the northern Fraser

Range Belt adjacent to Orion’s Peninsula Project and will give Orion the dominant ground position in the area.

• Consideration is 15 million shares and 18.5

million options:

• 3.5M 20c options expiring April 2014
• 5M 15c options expiring 12 months
• 5M 25c options expiring 24 months
• 5M 35c options expiring 36 months

4

Orion: Corporate Summary

Capital Structure Summary Shares on Issue 140.7M Shares on Issue (post acquisition & raising) approx 197M Options on Issue 91.4M Options on Issue (post acquisition & raising) approx 110M Market Capitalisation (current) $18M (at 13cps) Significant Holders Number % Silja Investment Ltd 77,493,695 55% Tarney Holdings Pty Ltd 6,687,500 4.8% Significant Holder Total 84,181,095 60%

5

Highly Experienced Team

The Board Denis Waddell Chairman

Chartered Accountant. Extensive experience in the management of exploration and mining companies. Founding director of Tanami Gold NL from 1994 until November 2012. Previously Finance Director – Metana Minerals Group.

Errol Smart CEO / MD

Geologist, extensive global experience in management of gold exploration and mining companies. Most recently COO and Strategic Manager – LionGold Corporation, having overseen the establishment of the first SGX, Main Board listed gold company. Previously held senior positions with AngloGold, Cluff Mining, Metallon Gold, and Clarity Minerals.

Alexander Haller Non-Executive Director

Principal of Zachary Capital Management. Provides advisory services to investment companies including Silja, the major Orion shareholder. Worked in the corporate finance division at JP Morgan, advising on M&A and equity and debt capital financing.

Key Management Martin Bouwmeester CFO and Company Secretary

• CPA. CFO, BDM and Company Secretary of Perseverance Corporation Limited. Key member of team that evaluated the sulphide mineralisation at the

Fosterville Gold Mine and the funding of development of the mine and processing plant.

Bill Oliver COO

Managing Director of Kamax Resources (recent Fraser Range acquisition). Extensive experience leading exploration teams in Europe and Australia, including senior roles with Harmony Gold, Iberian Resources, BC Iron and Bellamel Mining. Most recently Managing Director – Signature Metals.

6

Creasy deal creates significant ground position

Acquired tenements Current Post Acquisition

7

Regional Setting

Nova

Tenement package is located within the Albany- Fraser Mobile Belt.

Tropicana

Peninsula N

20km

N

20km

8

Historical high resolution aeromagnetics

Prominent magnetic feature I nterpreted Peninsula I ntrusion

I nterpreted Medusa I ntrusion E39/ 1653 Peninsula

Plan of “The Eye” magnetic anomaly (host of Nova/Bollinger Deposit) for scale.

See Appendix for details.

N 5km

9

Surface Geochemical Sampling Results

Coincident Ni, Cu, Co anomalism

Peninsula

• Only first pass geochemical

sampling has been carried

• ut on some of the tenements

(800m x 400m spacing)

• Sampling defines broad low-

level coincident Ni-Co-Cu anomalies on E39/1654.

10

Acquisition builds on work done at Peninsula Project

• The Peninsula Project contains one of only a few Proterozoic mafic / ultramafic

intrusions identified within the Fraser Range Province.

• Lithologies intersected in RC drilling at Peninsula by Western Areas include mafic granulite and gabbronorite.
• Anomalous Ni – Cu – Co - S assays were returned but no deeper test of the intrusive body was carried out.
• A significant amount of the intrusion remains untested, along with the surrounding area.

Plan of “The Eye” magnetic anomaly (host of Nova/Bollinger Deposit) at the same scale as Peninsula figure.

See Appendix for details.

Anomalous Ni, Cu, Co & S

Peak Hole From To Background Nickel 1,427ppm PLRC015 40 41 244ppm Copper 312ppm PLRC015 48 52 38ppm Cobalt 197ppm PLRC017 54 55 50ppm Sulfur 8,616ppm PLRC015 40 41 665ppm

11

Fraser Range Ni-Cu: Lessons From Nova - Bollinger

• Diagram above is taken from Sirius Resources ASX Announcement 6 March 2013 and shows the geological

setting of the Nova and Bollinger Deposits

• Both deposits are magmatic sulphide deposits hosted by a mafic intrusive complex, with associated

brecciation and bounded by a pyroxene-garnet gneiss.

• The Nova “Discovery” was made by following up a target defined by surface geochemical sampling,

airborne magnetics and EM, regolith anomalies in aircore drilling and ground EM.

12

Putting the indicators together – clear Nova analogy

Nova

(pre-discovery)

Peninsula

(poised for discovery) Mafic intrusion

 

Nickel present in bedrock

 

Copper & sulphur associated with nickel

 

Magnetic anomaly

 

EM conductor

 

13

HeliTEM Results from Peninsula

• Two significant EM anomalies associated with

magnetic anomalies have been identified in the HeliTEM survey.

• Pen_HA1 & PEN_HA2 shown on plan to right
• Significantly PEN_HA2 is in the same location as

anomalous Ni – Cu – Co – S intersections in historical drilling and has a coincident aeromagnetic anomaly.

• PEN_HA1 has not been covered by surface

sampling and has not been drill tested.

• Drilling to east intersected low level Au-PGE.
• Two secondary anomalies (yellow) and

three single line anomalies (stars) also identified.

• Ground EM is planned to be carried out over all

anomalies to better define conductors at lower frequencies.

HeliTEM Response Ch29B Insets show aeromagnetic images

• f PEN_HA1 & PEN_HA2

Conductive Overburden I nterpreted Peninsula I ntrusion

14

Forward Work Programmes for Fraser Range

• Airborne geophysics planned for new

Creasy tenements (EM).

• Ground EM follow up on target areas in

all tenements.

• Surface and litho-geochemical surveys
• n target areas in all tenements.
• Infill sampling of coincident Ni, Cu, Co

anomalies within Creasy tenements.

• Refine genetic model and generate

robust drill targets.

• Aim is to generate drill targets and

submit PoWs for drilling in 2013.

15

ORN: High Quality Gold – Polymetal Exploration Assets

• Fraser Range Gold-Nickel-Copper Project

– located in the emerging Fraser Range Belt – between two of the most significant Australian mineral discoveries of the past decade (Nova and Tropicana)

• Walhalla Gold & Polymetals Project

– world-class gold field in Victoria – new emphasis on related Cu, Ni, PGE bearing fruit

• Connors Arc – Aurora Project

– Epithermal gold project in Queensland – located between Cracow and Mt Carlton

Orion Gold is focused on acquiring, exploring and developing large tenement holdings or regional scale mineral opportunities in world-class mineral provinces….

15

16

Walhalla Polymetals: Coopers Creek

CC003 36m @

• 1.75% Cu
• 0.2% Ni
• 0.78g/t Pt
• 1.08g/t Pd
• 0.39g/t Au
• 8.8g/t Ag

from 303m CC002 Drills across dyke bulge, but above keel

• zone. No

significant assays DH81_ML001 Intersects thin dyke, below and to south

• f bulge keel

Note small surface expression of high grade mineralisation Large bulge with anomalous , low grade mineralisation

17

Orion Gold – Walhalla Polymetals Project

Metal equivalent grade calculations for drill hole CC003 (Coopers Creek)

Over 36 metres (303 – 339m) Over 3.5 metres (331.5 – 335m) Metal Price Grade US$ value/tonne Au equivalent Cu equivalent Grade US$ value/tonne Au equivalent Cu equivalent Au US$1,250 0.39g/t 15.67 0.39g/t 0.23% 1.3g/t 52.25 1.30g/t 0.75% Pt US$1,350 0.78g/t 33.86 0.84g/t 0.49% 1.16g/t 50.35 1.25g/t 0.73% Pd US$683 1.08g/t 23.72 0.59g/t 0.34% 1.64g/t 36.01 0.90g/t 0.52% Ag US$19.63 8.6g/t 5.43 0.14g/t 0.08% 14.4g/t 9.09 0.23g/t 0.13% Cu US$6,922 1.75% 121.13 3.01g/t 1.75% 3.23% 223.58 5.56g/t 3.23% Ni US$13,805 0.20% 27.11 0.69g/t 0.40% 0.53% 73.17 1.82g/t 1.06% Total $227.42 5.66g/t 3.29% $444.44 11.06g/t 6.42% Notes:

• Orion has considered the in-situ grades reported in the context of the current metal prices as reported by the London Metal Exchange on 3 July 2013.
• The gangue and ore mineral assemblage as reported for the intersection is typical of PGE ores commonly mined in Southern Africa where >90% of world

PGE production takes place. The metals and minerals identified are conventionally recoverable to a sulphide concentrate with standard metallurgical practices and a reasonable expectation of recovering >90% of each of the ore minerals. The concentrates produced can be expected to have composition typical of those commonly purchases and/or toll treated by base metal + PGE refineries in South Africa. The Competent Person is thus of the

• pinion that the metal equivalent estimate is a reasonable approach as an initial indication of economic merit of the mineral occurrence. The metal

equivalence is stated as gold equivalence for Orion, which is a gold exploration and development company and has reported JORC compliant gold resources on the same tenement. Copper equivalence is also states since copper is the metal contributing most economic value in the intersection.

18

Connors Arc Epithermal Au Project

EPMA’s 19825, 25122, 25283 (new application)

100 km

• Orion’s Connors Arc Project area now

comprises three exploration permit applications totaling 593km2

• Immediately along strike from the Mt.

Mackenzie high sulphidation epithermal Au mineralisation - a very large, magmatic- hydrothermal system

• Geological and structural setting of project

area in common with numerous epithermal and/or porphyry style systems (red)

• Including active mines at +1Moz Au deposits:
• Cracow (LS epithermal) –

4.29Mt @ 6.1g/t Au for 842koz Au 1 (remaining resource),

• ca. 2Moz Au prior production
• Mt. Carlton (HS epithermal) –

25Mt @ 1.7g/t Au for 1.35Moz Au 28.1Mt @ 35g/t Ag, 0.22% Cu for 31.2Moz Ag, 63.1kt Cu 1

1 = Evolution Mining Ltd website – December 2012 resources statement

19

Aurora Flats Epithermal Au target

A

B Drillhole intersection 100m

• Shallow, wide spaced drill intercepts
• Characteristic As & Hg anomalism
• Low grade Au plus distinct Ag-Te signature (Ag-Te > Au)

Typical shallow level expression of fertile epithermal structure

AFRC001

• 2m @ 0.73g/t Au from 84m

Including:

• 1m @ 1.14g/t Au, 77ppm

Ag, 62ppm Te, 57.1ppm Hg from 84m

• Anomalous As halo to

101ppm AFRC002

• 4m @ 0.17g/t Au, 20ppm Ag

from 96m

• Anomalous As halo to 155ppm

PDH510

• 2m @ 3.5g/t Au, 62g/t Ag

from 46m PDH512

• 6m @ 0.3g/t Au, 1.0g/t Ag

from 12m Including:

• 2m @ 1.31g/t Au, 1.0g/t Ag

from 16m

• Anomalous As halo to 82ppm

Au in soils anomaly Au in soils anomaly Superficial cover – no surface expression of vein

1.5km of prospective strike (minimum) Aurora Flats long section (A-B), looking north-west

20

Orion Gold

Notes:

• Tonnes are rounded to the nearest 000, grade is rounded to the nearest 0.1, the ounces Au rounded to the nearest 100
• The cut-off grades for Tubal Cain and Eureka are set at values required to report only that part of the total in situ Mineral Resource which it is believed has potential to be mined

economically by underground methods suitable for narrow vein deposits

• The cut-off grade for the Cohen’s Deposit (previously referred to as the Cohen’s Stockwork Deposit) is set so as to report only that part of the Mineral Resource which it is believed

has potential to be mined economically by underground bulk mining methods

• These Mineral Resources are exclusive of areas of these deposits which are known to have been previously mined.

The Mineral Resources have been classified into Measured, Indicated and Inferred categories in accordance with JORC guidelines based variably on the assessment of geological continuity, grade continuity, drill data density and grade estimation error. Competent Persons:

• The information relating to the Mineral Resource is based on and accurately reflects grade estimation and modelling undertaken by Mr P. Ball B Sc MAusIMM for Orion Gold NL in his

capacity as Consultant Geologist to Orion Gold. The Mineral Resource information has undergone review by external consultants. The reported resources are in the process of remodelling and re-estimation as a result of new information and interpretations and changed economics. Mr Ball has sufficient experience in relation to the style of mineralisation under consideration to qualify as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Ball consents to the inclusion of the mineral resource information in the form and context in which it appears.

• The information relating to the Cohens Mineral Resource is based on and accurately reflects grade estimation and modelling undertaken again by Mr Ball and is compliant with the

1999 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”.

Orion Gold NL – In situ Mineral Resources at 30 June 2012

Deposit Cut-off Au g/t Measured Indicated Inferred Total Tonnes Au g/t Tonnes Au g/t Tonnes Au g/t Tonnes Au g/t Ounces Au Tubal Cain 4

• 177,000

7.7 680,000 10.5 857,000 9.9 273,400 Eureka 4

• 36,000

13.9 117,000 8.8 153,000 9.9 49,200 Cohen’s 3 80,000 5.4 388,000 5.1 210,000 6.1 678,000 5.5 119,100 Total 80,000 5.4 601,000 6.4 1,007,000 9.4 1,688,000 8.1 441,800

FURTHER INFORMATION – FRASER RANGE

21

The figure used in Slides 7 & 9 is taken from the Sirius Resources ASX Announcement of 6th March 2013 which shows “The Eye” magnetic anomaly and the Nova / Bollinger Deposits. The image has been scaled for comparison using the scale bar in the legend of the diagram.

A Sense of Scale

22

Surface Geochemical Sampling

Ni Cu Co

23

Orion Gold

Notes:

• Tonnes are rounded to the nearest 000, grade is rounded to the nearest 0.1, the ounces Au rounded to the nearest 100
• The cut-off grades for Tubal Cain and Eureka are set at values required to report only that part of the total in situ Mineral Resource which it is believed has potential to be mined

economically by underground methods suitable for narrow vein deposits

• The cut-off grade for the Cohen’s Deposit (previously referred to as the Cohen’s Stockwork Deposit) is set so as to report only that part of the Mineral Resource which it is believed

has potential to be mined economically by underground bulk mining methods

• These Mineral Resources are exclusive of areas of these deposits which are known to have been previously mined.

The Mineral Resources have been classified into Measured, Indicated and Inferred categories in accordance with JORC guidelines based variably on the assessment of geological continuity, grade continuity, drill data density and grade estimation error. Competent Persons:

• The information relating to the Mineral Resource is based on and accurately reflects grade estimation and modelling undertaken by Mr P. Ball B Sc MAusIMM for Orion Gold NL in his

capacity as Consultant Geologist to Orion Gold. The Mineral Resource information has undergone review by external consultants. The reported resources are in the process of remodelling and re-estimation as a result of new information and interpretations and changed economics. Mr Ball has sufficient experience in relation to the style of mineralisation under consideration to qualify as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Ball consents to the inclusion of the mineral resource information in the form and context in which it appears.

• The information relating to the Cohens Mineral Resource is based on and accurately reflects grade estimation and modelling undertaken again by Mr Ball and is compliant with the

1999 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”.

Orion Gold NL – In situ Mineral Resources at 30 June 2012

Deposit Cut-off Au g/t Measured Indicated Inferred Total Tonnes Au g/t Tonnes Au g/t Tonnes Au g/t Tonnes Au g/t Ounces Au Tubal Cain 4

• 177,000

7.7 680,000 10.5 857,000 9.9 273,400 Eureka 4

• 36,000

13.9 117,000 8.8 153,000 9.9 49,200 Cohen’s 3 80,000 5.4 388,000 5.1 210,000 6.1 678,000 5.5 119,100 Total 80,000 5.4 601,000 6.4 1,007,000 9.4 1,688,000 8.1 441,800

FURTHER INFORMATION – WALHALLA POLYMETALS

24

Understanding The Opportunity – Walhalla Polymetals

• Small, poorly understood surface expressions probably reduced

historical interest

• Modern geological understanding emphasises the opportunity present

in deposits of this style:

• In general the host intrusives have low but anomalous metal tenor at surface
• Only a small area within the intrusive contains significant concentrations of metals

(at levels which are economically significant)

• These zones are likely to be relatively high grade and continuous down plunge

(Coopers Creek deposit drilled to 300m below surface)

• The small footprint area of the deposit, facilitates access for exploration with small

surface area disturbances - reduced exploration costs and environmental impact

25

WPDS: Key Polymetal prospects

Map of regional geology, Orion tenements, major dyke associated gold deposits and key polymetal prospects

Prospect Historical Production1 (Cu, Ni, PGE) Historic Grades1.2 (Cu, Ni, PGE) Geology

Coopers Creek 1594t Cu 258t Ni 177oz Pt 299oz Pd 122oz Au 1125oz Ag 3.75 – 24.5% Cu 0.34 – 3.8% Ni 2.2 g/t Pt 3.7 g/t Pd 1.5 g/t Au 14 g/t Ag North plunging dyke bulge; surface expression 150m x 30m Sulphide accumulations in basal ‘keel’ of dyke, and displaced sulphides in parallel fault East Walhalla None recorded; small-scale mining evident 0.31% Cu 1.5g/t Pt 0.45g/t Au 3.3g/t Ag Dyke bulge with similar surface dimensions (100m x 30m) and composition to Coopers Creek. Copper carbonate staining of coarse grained ultramafic rocks Maynard’s Gully None recorded 0.26g/t Pt 0.26g/t Au 1.75g/t Ag Dyke bulge (ca. 370m x 125m) at surface) of ultramafic – mafic composition. Fine magmatic sulphides in ultramafic rocks New Loch Fyne (Outside Orion EL’s) None recorded 2.3% Cu 2.46g/t Pt 2.79g/t Au 10.43g/t Ag Composite dyke bulge (ca. 220m x 85m at surface) Disseminated sulphides in basic dyke phase? Shamrock (Outside Orion EL’s) None recorded 1.0% Cu 0.84g/t Pt 0.19g/t Au 1.68g/t Ag Composite dyke bulge – intermediate & basic phases Disseminated sulphides in basic dyke phase?

1) Historical Production figures sourced from Department of Primary Industry public records. 2) Junner, 1920

26

Coopers Creek

• Mined sporadically for Cu, records of Ni, Pt,

Pd, Au, Ag content from 1865 to 1913

• Total material mined: ca. 13,200t
• Two styles of sulphide mineralisation evident
• Accumulation of polymetal sulphides within

interpreted ‘keel’ of north-plunging dyke bulge;

• Sulphide injection within a dyke-parallel fault
• Historic 1980’s exploration drilling directly

tested the ‘keel’ model, intersecting 36m @ 1.75% Cu, 0.2% Ni, 0.78g/t Pt, 1.08g/t Pd, 0.39g/t Au, 8.6g/t Ag

• including 3.5m @ 3.23% Cu, 0.53% Ni,

1.16g/t Pt, 1.64g/t Pd, 1.3g/t Au, 14.4g/t Ag

• This mineralisation remains open down

plunge to the north

• Dyke bulge expanding at depth
• Remnant drill core available at GSV core

library for logging, geochemical and petrological analysis – crucial to development

• f both prospect-scale and district-scale

exploration models

27

Notional exploration target

Schematic Plan Section – Notional Exploration Target Schematic Long Section – Notional Exploration Target

• 25m (strike) x 125m (average width)
• Intersected in drilling 300 metres below surface
• SG: 3.2 t/m3
• Tonnes: 10,000t / vertical m
• Au equivalent grade: 5 – 6 g/t (based on CC003)
• Cu equivalent grade: 3 - 4% Cu (based on CC003)

Therefore based on a vertical extent of between 200 and 400 metres the Exploration Target for the dyke keel is 2 – 4 million tonnes of copper – nickel – gold – PGE mineralisation at a grade between 5 – 6 g/t Au equivalent

• r 3 – 4 % Cu equivalent.
• Exploration target is approximately 1,600oz Au / 300ton

contained Cu equivalent per vertical m

• Over a 600m plunge extent this could represent a ca.

1Moz Au equivalent / 180,000 ton contained Cu equivalent

Please refer to the Competent Persons Statement on slide 21. The information on this slide relating to Exploration Targets is consistent with the 2004 JORC Code and should not be misunderstood or misconstrued as an estimate of Mineral Resources or Ore Reserves.

28

Samples of comparable magmatic facies and positions in three different WPDS dykes

Walhalla Polymetals: Comparison of known occurences

Coopers Creek dyke

(above mineralised keel)

East Walhalla Maynard’s Gully

0.2% Cu 374ppm Ni 315ppb Pt 520ppb Pd 31ppb Au 0.5g/t Ag 0.27% Cu 28ppb Pt 90ppb Pd 15ppb Au <1ppm Ag 0.48% Cu 684ppm Ni 24ppb Pt 21ppb Pd 9ppb Au 0.5g/t Ag

(In mineralised keel)

Coopers Creek 1980’s drill core (CC003; 338 – 339m)

4.08% Cu 0.1% Ni 0.74g/t Pt 0.73g/t Pd 0.62g/t Au 18g/t Ag Other Polymetal bearing dykes where keels not identified / tested

29

Orion Gold

Notes:

• Tonnes are rounded to the nearest 000, grade is rounded to the nearest 0.1, the ounces Au rounded to the nearest 100
• The cut-off grades for Tubal Cain and Eureka are set at values required to report only that part of the total in situ Mineral Resource which it is believed has potential to be mined

economically by underground methods suitable for narrow vein deposits

• The cut-off grade for the Cohen’s Deposit (previously referred to as the Cohen’s Stockwork Deposit) is set so as to report only that part of the Mineral Resource which it is believed

has potential to be mined economically by underground bulk mining methods

• These Mineral Resources are exclusive of areas of these deposits which are known to have been previously mined.

The Mineral Resources have been classified into Measured, Indicated and Inferred categories in accordance with JORC guidelines based variably on the assessment of geological continuity, grade continuity, drill data density and grade estimation error. Competent Persons:

• The information relating to the Mineral Resource is based on and accurately reflects grade estimation and modelling undertaken by Mr P. Ball B Sc MAusIMM for Orion Gold NL in his

capacity as Consultant Geologist to Orion Gold. The Mineral Resource information has undergone review by external consultants. The reported resources are in the process of remodelling and re-estimation as a result of new information and interpretations and changed economics. Mr Ball has sufficient experience in relation to the style of mineralisation under consideration to qualify as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Ball consents to the inclusion of the mineral resource information in the form and context in which it appears.

• The information relating to the Cohens Mineral Resource is based on and accurately reflects grade estimation and modelling undertaken again by Mr Ball and is compliant with the

1999 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”.

Orion Gold NL – In situ Mineral Resources at 30 June 2012

Deposit Cut-off Au g/t Measured Indicated Inferred Total Tonnes Au g/t Tonnes Au g/t Tonnes Au g/t Tonnes Au g/t Ounces Au Tubal Cain 4

• 177,000

7.7 680,000 10.5 857,000 9.9 273,400 Eureka 4

• 36,000

13.9 117,000 8.8 153,000 9.9 49,200 Cohen’s 3 80,000 5.4 388,000 5.1 210,000 6.1 678,000 5.5 119,100 Total 80,000 5.4 601,000 6.4 1,007,000 9.4 1,688,000 8.1 441,800

FURTHER INFORMATION - QUEENSLAND

30

Understanding The Opportunity - Queensland

• Prior to major epithermal Au discoveries in the 1990’s (Pajingo, Cracow), the

established belief was that ‘fossil’ (pre-Cenozoic) epithermal systems had low prospectivity, due to poor preservation potential…

• Occurrences were often interpreted as the remnant, low grade ‘roots’ of heavily eroded

systems

• Target style was somewhat unpopular prior to the 1990’s success
• Discoveries came about from a willingness to challenge this belief via deeper drill

testing of known systems, guided by geochemistry and geology (vein textures, alteration mineralogy)

• Since the success of the 1990’s, greenfields exploration by larger companies for

deposits of this style gradually declined (in favour of more mature, near-term

• pportunities offshore)
• As a result, a number of prospective hydrothermal systems in settings such as the Connors-

Auburn arc remain under-explored

31

Aurora Flats Epithermal Au target

• Sparsely and shallowly drill-tested low

sulphidation epithermal quartz vein structure

• The deepest intersections are ca. 80m below

surface, on two sections >800m apart!

• Discontinuous outcrop/sub-crop of epithermal

vein material over approximately 1.5km of strike

• Coincident anomalous Au in soils
• Geochemistry and quartz vein textures from

historic shallow drilling are consistent with a shallow level in an epithermal system;

• Strongly anomalous As, Hg
• Ag-Te > Au signature
• Logging of historic drill holes records presence of

chalcedony (low temperature cryptocrystalline quartz)

• Excellent potential for preservation of high

grade gold mineralisation below the present extent of drill testing and/or along strike

Drilling data released to ASX on 15th July 2013

EPMA 19825 EPMA 25283

AFRC001

• 2m @ 0.73g/t Au from 84m

Including:

• 1m @ 1.14g/t Au, 77ppm Ag,

62ppm Te, 57.1ppm Hg from 84m

• Anomalous As halo to

101ppm AFRC002

• 4m @ 0.17g/t Au, 20ppm

Ag from 96m

• Anomalous As halo to

155ppm

A B

PDH510

• 2m @ 3.5g/t Au, 62g/t Ag

from 46m PDH512

• 6m @ 0.3g/t Au, 1.0g/t Ag

from 12m Including

• 2m @ 1.31g/t Au, 1.0g/t Ag

from 16m

• Anomalous As halo to

82ppm

500m

32

FURTHER INFORMATION – WALHALLA GOLD

REPORTED GOLD RESOURCES

33

Orion Gold

Notes:

• Tonnes are rounded to the nearest 000, grade is rounded to the nearest 0.1, the ounces Au rounded to the nearest 100
• The cut-off grades for Tubal Cain and Eureka are set at values required to report only that part of the total in situ Mineral Resource which it is believed has potential to be mined

economically by underground methods suitable for narrow vein deposits

• The cut-off grade for the Cohen’s Deposit (previously referred to as the Cohen’s Stockwork Deposit) is set so as to report only that part of the Mineral Resource which it is believed

has potential to be mined economically by underground bulk mining methods

• These Mineral Resources are exclusive of areas of these deposits which are known to have been previously mined.

The Mineral Resources have been classified into Measured, Indicated and Inferred categories in accordance with JORC guidelines based variably on the assessment of geological continuity, grade continuity, drill data density and grade estimation error. Competent Person:

• The information relating to the Mineral Resource is based on and accurately reflects grade estimation and modelling undertaken by Mr P. Ball B Sc MAusIMM for Orion Gold NL in his

capacity as Consultant Geologist to Orion Gold. The Mineral Resource information has undergone review by external consultants. The reported resources are in the process of remodelling and re-estimation as a result of new information and interpretations and changed economics. Mr Ball has sufficient experience in relation to the style of mineralisation under consideration to qualify as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Ball consents to the inclusion of the mineral resource information in the form and context in which it appears.

• The information relating to the Cohens Mineral Resource is based on and accurately reflects grade estimation and modelling undertaken again by Mr Ball and is compliant with the

1999 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”.

Orion Gold NL – In situ Mineral Resources at 30 June 2012

Deposit Cut-off Au g/t Measured Indicated Inferred Total Tonnes Au g/t Tonnes Au g/t Tonnes Au g/t Tonnes Au g/t Ounces Au Tubal Cain 4

• 177,000

7.7 680,000 10.5 857,000 9.9 273,400 Eureka 4

• 36,000

13.9 117,000 8.8 153,000 9.9 49,200 Cohen’s 3 80,000 5.4 388,000 5.1 210,000 6.1 678,000 5.5 119,100 Total 80,000 5.4 601,000 6.4 1,007,000 9.4 1,688,000 8.1 441,800

34

Orion Gold

Notes:

• Tonnes are rounded to the nearest 000, grade is rounded to the nearest 0.1, the ounces Au rounded to the nearest 100
• The cut-off grades for Tubal Cain and Eureka are set at values required to report only that part of the total in situ Mineral Resource which it is believed has potential to be mined

economically by underground methods suitable for narrow vein deposits

• The cut-off grade for the Cohen’s Deposit (previously referred to as the Cohen’s Stockwork Deposit) is set so as to report only that part of the Mineral Resource which it is believed

has potential to be mined economically by underground bulk mining methods

• These Mineral Resources are exclusive of areas of these deposits which are known to have been previously mined.

The Mineral Resources have been classified into Measured, Indicated and Inferred categories in accordance with JORC guidelines based variably on the assessment of geological continuity, grade continuity, drill data density and grade estimation error. Competent Persons:

• The information relating to the Mineral Resource is based on and accurately reflects grade estimation and modelling undertaken by Mr P. Ball B Sc MAusIMM for Orion Gold NL in his

capacity as Consultant Geologist to Orion Gold. The Mineral Resource information has undergone review by external consultants. The reported resources are in the process of remodelling and re-estimation as a result of new information and interpretations and changed economics. Mr Ball has sufficient experience in relation to the style of mineralisation under consideration to qualify as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Ball consents to the inclusion of the mineral resource information in the form and context in which it appears.

• The information relating to the Cohens Mineral Resource is based on and accurately reflects grade estimation and modelling undertaken again by Mr Ball and is compliant with the

1999 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”.

Orion Gold NL – In situ Mineral Resources at 30 June 2012

Deposit Cut-off Au g/t Measured Indicated Inferred Total Tonnes Au g/t Tonnes Au g/t Tonnes Au g/t Tonnes Au g/t Ounces Au Tubal Cain 4

• 177,000

7.7 680,000 10.5 857,000 9.9 273,400 Eureka 4

• 36,000

13.9 117,000 8.8 153,000 9.9 49,200 Cohen’s 3 80,000 5.4 388,000 5.1 210,000 6.1 678,000 5.5 119,100 Total 80,000 5.4 601,000 6.4 1,007,000 9.4 1,688,000 8.1 441,800

COMPETENT PERSONS STATEMENT

35

Competent Persons Statement

The information in this report that relates to Exploration Results at the Fraser Range Projects is based on information compiled by Mr Bill Oliver, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of

• Geoscientists. Mr Oliver is the Chief Operating Officer of Orion Gold NL and has sufficient experience that is relevant to the style of

mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (“JORC Code”). Mr Oliver consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. Information in this report which related to Exploration Results and other technical information about the Connors Arc Project is based

• n information compiled by Mr Ben Spence (B.AppSc), who is a Member of the Australian Institute of Geoscientists. Mr Spence is a

full-time employee of Orion Gold NL. He has sufficient experience that is relevant to the styles of mineralisation and types of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (“JORC Code”). Mr Spence consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. Exploration Results, Exploration Targets and other technical information in this report relating to the Walhalla Polymetals Project has been compiled and assessed under the supervision of Mr Errol Smart, Orion Gold NL’s Managing Director, from historical records and field investigation. Mr Smart (PrSciNat) is registered with the South African Council for Natural Scientific Professionals, a ROPO for JORC purposes and has experience in the identification and exploration of mineralisation of this style. Mr Smart consents to the public release of the information in the context contained within this release as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (“JORC Code”). Mr Smart consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.