Orion Minerals Ltd (ASX: $ORN) June 2024 Quarterly Activities Report

Orion Minerals Ltd (ASX: $ORN) is making significant progress with its Feasibility Studies for the Prieska Copper Zinc Mine (PCZM) and Okiep Copper Project (OCP), with completion expected in the September 2024 Quarter. The company also successfully completed trial mining of the Supergene orebody at PCZM, providing key inputs for the updated Bankable Feasibility Study. Additionally, the upgrade of the Cuprum electrical sub-station and the signing of a Water Supply & Management Agreement are notable achievements during this period.

Executive Commentary on Progress and Achievements

Orion Minerals Ltd (ASX: $ORN) is pleased to report the successful completion of trial mining at the Supergene orebody at PCZM, which has provided valuable data for the updated Bankable Feasibility Study. The progress made in upgrading the Cuprum electrical sub-station and the signing of the Water Supply & Management Agreement are significant milestones that will contribute to the overall development of the projects. We are on track to achieve our goals and remain committed to meeting our aspirational targets for host community employment and procurement at PCZM and OCP. The outstanding initial results from confirmatory diamond drilling at the Okiep Copper Project are encouraging and support our development strategy for OCP. We are also pleased to have completed a capital raising of A$7.7 million to fund the development of PCZM and accelerate infrastructure development for early production at OCP, demonstrating strong investor confidence in our projects.

Quarterly Achievements and Future Outlook

Orion Minerals Ltd (ASX: $ORN) has made significant strides in advancing its Feasibility Studies for the Prieska Copper Zinc Mine and Okiep Copper Project. The successful completion of trial mining at PCZM and the outstanding initial results from confirmatory diamond drilling at OCP are positive indicators for the company's future. The completion of a A$7.7 million capital raising further strengthens the company's position to progress the development of PCZM and accelerate infrastructure development for early production at OCP. Orion remains committed to its goals of first production from its key development projects in 2026, with the aim of ramping up copper production to more than 50ktpa by the end of the decade. The company's focus on health and safety, community engagement, and environmental management underscores its dedication to responsible and sustainable mining practices.