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ORABANDA MINING ASX Announcement ( ASX : OBM ) 30 April 2021 MARCH 2021 - QUARTERLY ACTIVITIES REPORT Processing Recommenced & Ramping up Regional Exploration Highlights for three months to 31 March 2021 include : • Completion of the Davyhurst capital works program on time and within budget Commencement of gold production at Davyhurst ( first gold poured in February ) Increased focus on resource definition and testing of highly prospective regional exploration targets Capital Works Program • Major capital work activities undertaken during the quarter include : Ongoing open pit mining of 1.1 Mbcm at Riverina ( including 140.4 kt at 1.22 g / t Au ) Dewatering and rehabilitation of the decline and working levels at Golden Eagle Late contractor mobilisation impacted Golden Eagle ore production ( 25.2 kt at 3.7 g / t Au ) Planned mining of higher grade ore has been accelerated to offset late start and lower grades Commenced haulage of Run of Mine ore from mine sites to the Davyhurst process plant Commissioned all key site infrastructure ( includes power station and water supply ) Commissioned the upgraded Davyhurst process plant ( first gold poured in February ) Systematic ramp up of process plant throughput continuing ( 128.5 kt at 1.55 g / t Au processed ) Road haulage and processing plan revised to accommodate higher mine ore grades Exploration & Resource Definition • $ 1.25 million investment in exploration during the quarter ( $ 3.91 million YTD ) • A total of 30,225 metres of exploration and resource definition completed • • Riverina South Phase 3 resource definition drilling ( RC - 7,923 m and Diamond - 396 m ) completed Significant number of assay results outstanding Corporate & Finance • Gold sales of 3,204 oz at an average price of A $ 2,235 per oz • Cash of $ 18.46 million , unsold bullion of 1,166 oz Au with no debt at 31 March 2021 Outlook Gold in Circuit ( GIC ) of 1,354 oz and gold in surface ore stocks of 6,593 oz at quarter end Contained gold within ore mined to 30 June remains in line with the DFS estimate of 35 koz . Gold sales to 30 June of 18 koz to 23 koz ounces are forecast to be lower than outlined in the DFS estimate of 30 koz due to slower commissioning than planned , lower tonnage milled and lower initial mine ore grades due to ore stockpiling space restrictions Events Post 31 March 2021 : • New CEO ( Mr Peter Nicholson ) commenced 6 April • Construction work for Tailings Storage Facility ( TSF ) - Cell B commenced mid - April Site work in preparation for the start of open pit mining at Missouri commenced mid - April Ora Banda Mining Limited ( ASX : OBM ) ( " Ora Banda " , " Company " ) is pleased to report on its activities for the March quarter , a quarter in which the Company continued its open pit mining operations at Riverina , recommenced underground mining operations at Golden Eagle , restarted the Davyhurst processing plant and accelerated its structured regional exploration program . ADDRESS Level 1 , 2 Kings Park Rd , West Perth WA 6005 POST PO Box 464 , West Perth WA 6872 ABN 69 100 038 266 PHONE +61 8 6365 4548 PHONE ( TOLL FREE ) 1300 035 592 WEBSITE www.orabandamining.com.au ENQUIRIES admin@orabandamining.com.au 1/35