Orminex Ltd has provided the following update on mining operations at its joint venture Comet Vale Project in the Goldfields region of Western Australia. The company has a strategic alliance with underground mining contractor GBF Mining Pty Ltd who oversee all operational management of the project.

Under the company’s Mineral Ventures Model, GBF commenced mining operations on 15 May 2018 on the Sand Prince West Lode at the Comet Vale Project. The current mine plan proposes to develop the decline down to the 6

th level, to access virgin high grade stoping blocks modelled on predominately high grade indicated resources. Total development is advanced to 330 m and ahead of forecast with the decline now vertically down to the 2nd level. Access to a historic high-grade ore drive has been provided with break through anticipated by the end of July 2018.

The first truck of ore (non-budget development ore) has been hauled to Burbanks Mill while additional ore, outside of the mine plan, has been intercepted in the Sand Prince West North Lode and has been developed 25 m along strike. The focus continues on ore production and further decline development to the 3rd level to access additional high-grade ore drives. All surface infrastructure is in place including workshops, gensets, fuel storage, office and medical room to support mining operations and mining continues 24 hours a day

Orminex Executive Chairman, Daryl Henthorn said it is pleasing to see key development milestones progressing ahead of schedule. “Since our mining update announcement in June, decline ground conditions continue to improve at the mine with the decline advancing well and already at the 2nd level horizon. Development is now focusing on

accessing the 2nd level historic high grade ore drives and bringing those into production before continuing down to the 3rd level,” Henthorn said.

GBF Director, Rosco Graham provided further insights after returning from a recent underground inspection. “Mining is progressing well and ground conditions continuing to improve with the site set up and the crews

now beginning to optimise performance,” Graham said. “The innovative Mineral Ventures Model is working well, allowing us to focus on the mining operation, now on target to have our first campaign to the mill in August 2018.”

The company intends to process its ore at the Burbanks Mill, having executed a Toll Mining Agreement as announced on 3 May 2018.