ASX Waiver Granted 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 (“Orion” or “the Company”) ASX WAIVER GRANTED Orion Minerals Limited (ASX/JSE: ORN) (Orion or the Company) announces that ASX has granted the Company a technical waiver from ASX Listing Rule 14.7 to the extent necessary to permit the Company to issue 134,957,455 fully paid ordinary shares in the Company to Power Matla Proprietary Limited, The Trustees for the time being of Mosiapoa Family Trust (or its nominee) and African Exploration Mining Finance SOC Limited later than 3 months after the date on which shareholder approval was obtained (at the Company's general meeting on 7 June 2019), on the following conditions: • the securities are issued no later than 7 October 2019 and otherwise on the same terms and conditions as the shareholder approval; and • the Company immediately releases the terms of the waiver to the market. The Company refers to the announcement on 12 September 2019, which confirmed the issue of 86,056,022 shares to Power Matla Proprietary Limited and The Trustees for the time being of Mosiapoa Family Trust (or its nominee) to which this waiver applies. The remaining shares to be issued to African Exploration Mining Finance SOC Limited and The Trustees for the time being of Mosiapoa Family Trust (or its nominee) (being approximately 48,901,433 shares) will be issued following satisfaction of certain conditions precedent, which is expected to occur shortly. Errol Smart Managing Director and CEO 13 September 2019 ENQUIRIES Investors Media JSE Sponsor Errol Smart – Managing Nicholas Read Barnaby Hayward Rick Irving Director & CEO Denis Waddell – Chairman Read Corporate, Australia Tavistock, UK Merchantec Capital T: +61 (0) 3 8080 7170 T: +61 (0) 419 929 046 T: +44 (0) 787 955 1355 T: +27 (0) 11 325 6363 E: info@orionminerals.com.au E: nicholas@readcorporate.com.au E: orion@tavistock.co.uk E: rick@merchantec.co.za Suite 617, 530 Little Collins Street Melbourne, VIC, 3000 Date: 13/09/2019 08:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.