ion Gold NL 2012 Oc tobe r Or Disc laime r & Compe te nt Pe - PDF document

ion Gold NL 2012 Oc tobe r Or

Disc laime r & Compe te nt Pe r son’s State me nt Disc laime r and for war d-looking state me nts  Ce rtain state me nts c o ntaine d in this pre se ntatio n, inc luding info rmatio n as to the future financ ial o r o pe rating pe rfo rmanc e o f Orio n Go ld NL and its pro je c ts, are fo rward-lo o king state me nts. Suc h fo rward-lo o king state me nts:  are ne c e ssarily base d upo n a numbe r o f e stimate s and assumptio ns that, while c o nside re d re aso nable by Orio n Go ld NL , are inhe re ntly subje c t to sig nific ant te c hnic al, busine ss, e c o no mic , c o mpe titive , po litic al and so c ial unc e rtaintie s and c o nting e nc ie s;  invo lve kno wn and unkno wn risks and unc e rtaintie s that c o uld c ause ac tual e ve nts o r re sults to diffe r mate rially fro m e stimate d o r antic ipate d e ve nts o r re sults re fle c te d in suc h fo rward-lo o king state me nts; and  may inc lude , amo ng o the r thing s, state me nts re g arding targ e ts, e stimate s and assumptio ns in re spe c t o f me tal pro duc tio n and pric e s, o pe rating c o sts and re sults, c apital e xpe nditure s, mine ral re se rve s and mine ral re so urc e s and antic ipate d g rade s and re c o ve ry rate s, and are o r may be base d o n assumptio ns and e stimate s re late d to future te c hnic al, e c o no mic , marke t, po litic al, so c ial and o the r c o nditio ns.  Orio n Go ld NL disc laims any inte nt o r o blig atio n to update public ly any fo rward-lo o king state me nts whe the r as a re sult o f ne w info rmatio n, future e ve nts o r re sults o r o the rwise .  T he wo rds 'be lie ve ', 'e xpe c t', 'antic ipate ', 'indic ate ', 'c o nte mplate ', 'targ e t', 'plan', 'inte nds', 'c o ntinue ', 'budg e t', 'e stimate ', 'may', 'will', 'sc he dule ' and similar e xpre ssio ns ide ntify fo rward-lo o king state me nts.  All fo rward-lo o king state me nts made in this pre se ntatio n are qualifie d by the fo re g o ing c autio nary state me nts. I nve sto rs are c autio ne d that fo rward-lo o king state me nts are no t g uarante e s o f future pe rfo rmanc e and ac c o rding ly inve sto rs are c autio ne d no t to put undue re lianc e o n fo rward-lo o king state me nts due to the inhe re nt unc e rtainty the re in. Compe te nt Pe r sons State me nt  T he info rmatio n re lating to the Mine ral Re so urc e is base d o n and ac c urate ly re fle c ts g rade e stimatio n and mo de lling unde rtake n by Mr P. Ball B Sc MAusI MM fo r Orio n Go ld NL in his c apac ity as Co nsultant Ge o lo g ist to Orio n Go ld. T he Mine ral Re so urc e info rmatio n has unde rg o ne audit by e xte rnal c o nsultants. Mr Ball has the suffic ie nt e xpe rie nc e in re latio n to the style o f mine ralisatio n unde r c o nside ratio n to qualify as a Co mpe te nt Pe rso n as de fine d in 2004 e ditio n o f the “Australian Co de fo r Re po rting o f e xplo ratio n re sults, mine ral re so urc e s and o re re se rve s”. Mr Ball c o nse nts to the inc lusio n o f the mine ral re so urc e info rmatio n in the fo rm and c o nte xt in whic h it appe ars.  Othe r e xplo ratio n info rmatio n in this re po rt has be e n c o mpile d and asse sse d unde r the supe rvisio n o f Dr Jame s Ande rso n, Orio n Go ld NL ’ s Ge ne ral Manag e r – E xplo ratio n, fro m histo ric al re c o rds and fie ld inve stig atio n. Dr Ande rso n is a me mbe r o f the AusI MM CP (GE O) and has e xte nsive e xpe rie nc e in the ide ntific atio n o f g o ld mine ralisatio n o f this style . Dr Ande rso n c o nse nts to the public re le ase o f the info rmatio n in the c o nte xt c o ntaine d within this re le ase .

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Or ion Gold – Inve stme nt Highlights  Restructuring of capital structure including conversion of convertible notes and reduction of shareholder loan by issue of equity and consolidation of shares ‐ provides clean structure for future growth  Share placement planned with $4.5M to fund drill testing of advanced targets  Orion tenements cover a 75km strike length of Walhalla – Woods Point Goldfield which has +4Moz gold historical production  Detailed structural review of regional geology has provided improved understanding of geological controls  Approved drill plans for next 18 months to test key targets  Advanced targets to be drill tested following capital raising  Examining drilling options to optimise productivity and economics  New application for highly prospective area in Queensland

ing 1 Capital R aising and R e -str uc tur  Restructuring of capital structure including  Conversion of convertible notes to shares  Issue of shares up to $1.9M as reduction of loan from major shareholder  Consolidation of share capital on 1 for 40 basis  Capital raising of up to $6m at $0.10 (post consolidation, $0.0025 pre consolidation) ‐ $4.5m new funds, $1.5m reduction in Silja Loan 3  One attaching option at $0.20 exercise price  Planned use of proceeds: Walhalla $2.5m , Queensland $0.5m ‐ $1m Post Capital Raising Capital Structure 2,3 Shareholder Information Number of shares % of Total Shares (million) on Issue 72.8 54.7% Silja Investment Ltd 46.7 35.1% New Shareholders 13.5 10.2% Other Shareholders 133 100% Total 1 – Proposed capital raisings and restructuring are subject to shareholder approval. Refer to ASX announcement dated 12 October 2012 for further detail. 2 – Excludes effect of options on issue post capital raisings. Approximately 65m options will be on issue post proposed capital raisings. 3 – Assumes Silja Investment Ltd subscribe for $1.5m of shares in Second Placement. Refer to ASX announcement dated 12 October 2012 for further detail.

Or ion Gold – An Austr alian Gold E xplor e r New Queensland Project Application Appr oximate ly 2.5 hour s dr ive on se ale d r oads

Vic tor ia – Wor ld Class Gold Pr ovinc e Victoria is a proven gold province  Recorded Production ‐ 82 million ounces  % of Australian Production ‐ 32%  % of World Production ‐ 2% Walhalla – Woods Point Goldfield  Continuous, predictable reef gold mineralisation style  High free ‐ gold content  Historical production of +4 million ounces

Walhalla – a str ong foundation for c ontinue d suc c e ss HIGHLY PROSPECTIVE REGION Walhalla – Woods Point Goldfield – significant regional, historical high grade gold production: ‐ +4 million ounces gold past production ‐ Average gold grade ~ 25 g/t ‐ Continuous reef style mineralisation ‐ 75 km prospective strike length ‐ Existing Orion resource base 440,000 ozs Au (refer to appendix 1) Recently completed local and regional structural review: MINERALISATION CONTROLS ‐ Digitisation of all historic mining and mapping data IDENTIFIED ‐ New understanding of controlling geological features ‐ Generated new targets and prioritised existing ones NEW TARGETS READY Approved drill program designed to test targets: TO BE TESTED ‐ Cohen’s Reef ‐ Walhalla Proximal * ‐ Regional * approximately 10 km radius around 1.4 million ounce Cohen’s Reef

Obje c tive s Test the new interpretation of Cohen’s Trend and add to existing resource base Redevelopment of Cohen’s Reef  Historical production 1.4 million ounces  1.3 ounces/tonne average gold grade Delineation and development of substantial Walhalla proximal deposits, supplementing central Cohen’s Reef operations  Longfellows  Tubal Cain  Happy Go Lucky Define regional deposits as stand alone and collaborative developments  New Dawn  Toombon Track  Luck’s All  Sir John Franklin  Holy Terror

Ne w inte r pr e tation of Cohe n’s T r e nd Exploration target 1 Target Historical (refer Appendix 2) Production 2 Walhalla Au ozs Au ozs Regional Proximal Cohen’s Reef 1,400,000 500,000 ‐ 1,000,000+ (existing 120,000 oz resource – refer Appendix 1) Longfellows 50,000 50,000 ‐ 150,000+ Tubal Cain 33,000 300,000 ‐ 500,000+ (existing 270,000 oz resource – refer Appendix 1) Happy Go Lucky 90,000 100,000 ‐ 250,000+ Regional New Dawn – 50,000 + 250,000 ‐ 1,000,000+ Toombon Walhalla Luck’s All 17,000 200,000 ‐ 500,000+ Proximal Sir John Franklin 22,000 50,000 ‐ 100,000+ Holy Terror NA 50,000 ‐ 100,000+ 1) Exploration Targets – The potential quantity of gold ounces is conceptual in nature and is based upon the historical scale and evidence available. The Exploration Target does not represent an actual gold resource. There has been insufficient drilling undertaken to define a gold resource and it is uncertain if further exploration will result in the delineation of a gold resource. Refer to Disclaimer and Competent Person’s Statement. Map of Tenements and Historical Workings Lines 2) Historical Production figures sourced from Department of Primary Industry public records.

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