Orange Minerals NL : Calarie Phase Two Drilling Programme Finalised

ASX CODE : OMX

5 July 2022

onlyHIGHLIGHTS

ASX Release

CALARIE PHASE TWO DRILL PROGRAMME FINALISED

DRILLING TO COMMENCE IN JULY 2022

use		◼	Orange Minerals Phase 2 diamond drill programme finalised at Calarie NSW.
			◼ Diamond drill programme totalling approximately 1,200 metres set to commence in July 2022.
			◼ Following a highly successful Phase 1 drilling programme in December 2021, Phase 2 will test
				for potential extensions to high grade mineralisation at depth.
			◼ At least four diamond holes will be drilled beneath old workings in an inflexion zone and
				beneath historical high grade gold intersections.
personal

Orange Minerals NL (ASX: OMX) ("Orange" or "the Company") is pleased to announce that it has finalised a

Phase 2 drilling programme at the Calarie Project in NSW. Calarie is a mining lease (ML739) and two exploration licences (EL8555, EL8580) that form a 70% earn-in Joint Venture with Godolphin Resources Limited (see Figure 1). The project area is located immediately north of Forbes in Central NSW.

In December 2021 a Phase 1 RC drilling programme (ten RC holes totalling 1,044m) was completed with a number of outstanding results achieved including (see ASX announcement titled "Excellent Drill Results at Calarie" dated 4th April 2022)

• 21m @ 4.5g/t Au from 34m in OCRC006

• 1. Including 1m@48.77g/t Au from 42m
• 14m @ 3.4g/t Au from 112m in OCRC003
• 5m @ 13.5g/t Au from 143m in OCRC008

ForThese results validated historical results around the old Calarie mining area and highlighted the potential for significant resources to be delineated at the Calarie Project.

The Phase 2 diamond drill programme is designed to test the mineralisation at depth below the historical workings. Orange Minerals plan to drill at least four diamond holes (minimum total of 1,000 metres) below the old workings, where previous drilling located high grade gold mineralisation within an inflexion zone.

Commenting on the drilling at Calarie, Managing Director David Greenwood stated:

"Planning for a Phase 2 drilling programme at Calarie has been finalised and a diamond drill rig has been confirmed for July 2022. We look forward to drill testing this excellent project at depth"

Level 2, 7 Havelock Street, West Perth WA 6005

Tel: [phone]

www.orangeminerals.com.au

[e-mail]

For personal use only

ASX:OMX

Figure 1 - Calarie Project NSW

Level 2, 7 Havelock Street, West Perth WA 6005

Tel: [phone]

www.orangeminerals.com.au

[e-mail]

ASX:OMX

Planned Drilling Programme Calarie

The Phase 2 drilling programme is forecast to commence in July 2022. A minimum of four diamond drill holes are planned (minimum 1,000 metres) to test beneath the old mine workings and historical drill holes, the onlymajority of which were RC drilling. Gold mineralisation is structurally controlled along the extensive NNE trending Parkes - Forbes belt or Parkes thrust. Historical drilling has defined the strongly altered and mineralised western contact of the Daroobalgie Volcanics, dipping at 70o west. The holes will target an inflexion zone in the lode between 6310200N and 6310000N (see Figures 2 and 3). Cross sections showing the planned drill

h les beneath historical holes are shown in Figures 5-8.

usepersonal For Figure 2 - Planned drill holes Calarie NSW

Level 2, 7 Havelock Street, West Perth WA 6005

Tel: [phone]

www.orangeminerals.com.au

[e-mail]

For personal use only

ASX:OMX

Figure 3 - Long section showing planned drill holes at Calarie

NSW

.

Level 2, 7 Havelock Street, West Perth WA 6005

Tel: [phone]

www.orangeminerals.com.au

[e-mail]

ASX:OMX

For personal use only

Figure 4 - Phase 1 RC Drill Rig at Calarie

Level 2, 7 Havelock Street, West Perth WA 6005

Tel: [phone]

www.orangeminerals.com.au

[e-mail]