Orion Gold Project Locations Exploration Update: Walhalla - PDF document

ASX Announcement / Media Release 8 July 2013 Orion Gold Project Locations Exploration Update: Walhalla Polymetals Project Orion Gold NL (ASX: ORN ) is pleased to present the attached Exploration Update with regards to exploration activities at the Walhalla Cu-Ni-PGE Project (the “Walhalla Polymetals Project”). The presentation contains new exploration results from surface sampling, an Exploration Target for the Coopers Creek Prospect as well as giving investors further information about the geological model for the polymetallic mineralisation. ASX Code: ORN The presentation also highlights the unique opportunity that the Company believes exists at the Walhalla Polymetals Project, namely to delineate a Issued Capital: resource and develop a PGE-bearing deposit in a very supportive, first world location. Ordinary Shares: 128.7M Options: 79.4M The information in the presentation should be read in conjunction with the Disclaimers on slide 2 and the Competent Persons Statements on slide 21. Market Cap: ~$8M (at 6c) Directors: Denis Waddell Chairman Errol Smart Errol Smart Managing Director, CEO Managing Director and CEO Alexander Haller Non-Executive Director Management: Bill Oliver Chief Operating Officer Martin Bouwmeester CFO, Company Secretary Suite 302 T: +61 3 8080 7170 ABN 76 098 939 274 F: +61 3 8080 7174 ASX Code: ORN Level 3, 488 Bourke Street E: info@oriongold.com.au W: www.oriongold.com.au Melbourne VIC 3000

ASX Code: ORN www.oriongold.com.au Victoria Polymetal Exploration 4.08% Cu 0.1% Ni 0.74g/t Pt 0.73g/t Pd 0.62g/t Au 18g/t Ag Coopers Creek 1980’s drill core from mineralised keel (CC003; 338 – 339m) - note net textured sulphides 1

Disclaimer and Forward-Looking Statements Certain statements contained in this presentation, including information as to the future financial or operating • performance of Orion Gold NL and its projects, are forward-looking statements. Such forward-looking statements: are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Orion Gold NL, are inherently • subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies; involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or • anticipated events or results reflected in such forward-looking statements; and may include, among other things, statements regarding targets, estimates and assumptions in respect of metal production and prices, • operating costs and results, capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions. Orion Gold NL disclaims any intent or obligation to update publicly any forward-looking statements whether as • a result of new information, future events or results or otherwise. The words 'believe', 'expect', 'anticipate', 'indicate', 'contemplate', 'target', 'plan', 'intends', 'continue', 'budget', • 'estimate', 'may', 'will', 'schedule' and similar expressions identify forward-looking statements. All forward-looking statements made in this presentation are qualified by the foregoing cautionary statements. • Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. All information in respect of Exploration Results, Exploration Targets and Mineral Resources should be read in • conjunction with the Competent Person Statements at the end of this presentation. 2

Walhalla Project - Victoria Highly Prospective Region Walhalla-Woods Point Goldfield – significant regional, historical high-grade gold production - 3 rd largest goldfield in world class Victorian Gold Province - +4Moz Au @ >25g/t past production - ORN Existing total Indicated and Inferred Resource 440,000oz Au (refer Appendix 1) Historic high-grade Cu, Ni, PGE mining and drill intersections - mineralisation now understood to be related to gold mineralisation - historic drill intersections of up to 36m @ 5.66g/t Au equivalent includes 3.5m @ 11g/t Au equivalent / 6.4% Cu equivalent (refer to Appendix 2 for derivation of metal equivalent values) 3 3

Walhalla Polymetal - exploration rationale Walhalla – Woods Point district is famous as the 3 rd largest goldfield in Victoria, but…high grade copper – • nickel - PGE also known to occur within the district Both mineralisation styles are related to the Woods Point Dyke Swarm (‘WPDS’) • • ~75 km long belt of ultramafic to felsic dykes The ‘plumbing’ for a larger, now eroded, package of igneous rocks? • • Dykes of the WPDS and +1Moz Au deposits (i.e. Cohens, Morning Star, A1) share an intimate spatial association Recent studies support co-genetic model for Au and polymetallic mineralisation – Au leached from earlier formed magmatic sulphides • • The key “known” Cu-Ni-PGE occurrences in the district (see Slide 7) relate to magmatic sulphides within dykes (bulges) which display a significant ‘primitive’ (i.e. mantle-derived) component: Coopers Creek • East Walhalla • Maynard’s Gully • Shamrock • New Loch Fyne • The polymetal (Cu-Ni-PGE) potential of the WPDS has been largely ignored • • Several known Cu-Ni-PGE occurrences, including small-scale mines (Coopers Creek) • Sporadic exploration in the 1970’s – 1980’s (majority focused on Coopers Creek) Project being re-assessed as a result of new developments in the understanding of controls on • magmatic sulphide mineralisation 4

Walhalla: A Model for Gold and Polymetallics Co-genetic model for Au + Polymetallics Modified after Jowitt, Keays, Jackson, Hoggart, Green : Journal Econ Geol. 2012 5

Host morphology - polymetallic deposits Geometry of the host intrusion is just as • important as its petrology ‘Trap sites’ are crucial in order to facilitate • accumulation of the magmatic sulphides • Gravity accumulation – settling of sulphides & early-formed silicates from magma • Changes in magma flow-rate – dilation point or bend/choke point in intrusion Low to moderate angle basal contacts to • intrusions • Plunging dyke bulges (plunging base ≤ 60 o ) • Sills/Lopoliths (sub-horizontal intrusions) • Intrusions into low-angle reverse faults • Intrusion into anticlinal folds Geophysics crucial in order to map sub- • Note small surface expression of high grade surface geometry of prospective intrusions mineralisation 6

WPDS: Key Polymetal prospects Historic Historical Grades 1.2 Production 1 Prospect Geology (Cu, Ni, PGE) (Cu, Ni, PGE) 1594t Cu 3.75 – 24.5% Cu North plunging dyke bulge; 258t Ni 0.34 – 3.8% Ni surface expression 150m x 30m 177oz Pt 2.2 g/t Pt Coopers Sulphide accumulations in Creek 299oz Pd 3.7 g/t Pd basal ‘keel’ of dyke, and displaced sulphides in parallel 122oz Au 1.5 g/t Au fault 1125oz Ag 14 g/t Ag 0.31% Cu Dyke bulge with similar surface 1.5g/t Pt dimensions (100m x 30m) and None recorded; East composition to Coopers Creek. small-scale 0.45g/t Au Walhalla mining evident Copper carbonate staining of 3.3g/t Ag coarse grained ultramafic rocks Dyke bulge (ca. 370m x 125m) 0.26g/t Pt at surface) of ultramafic – mafic 0.26g/t Au Maynard’s composition. None recorded Gully 1.75g/t Ag Fine magmatic sulphides in ultramafic rocks New Loch 2.3% Cu Composite dyke bulge (ca. Fyne 2.46g/t Pt 220m x 85m at surface) None recorded (Outside 2.79g/t Au Disseminated sulphides in Orion basic dyke phase? 10.43g/t Ag EL’s) 1.0% Cu Shamrock Composite dyke bulge – 0.84g/t Pt intermediate & basic phases (Outside None recorded Orion 0.19g/t Au Disseminated sulphides in EL’s) basic dyke phase? 1.68g/t Ag 1) Historical Production figures sourced from Department of Primary Industry public records. Map of regional geology, Orion tenements, major dyke associated gold deposits and key polymetal 7 prospects 2) Junner, 1920

Understanding The Opportunity • Small, poorly understood surface expressions probably reduced historical interest • Modern geological understanding emphasises the opportunity present in deposits of this style: • In general the host intrusives have low but anomalous metal tenor at surface • Only a small area within the intrusive contains significant concentrations of metals (at levels which are economically significant) • These zones are likely to be relatively high grade and continuous down plunge (Coopers Creek deposit drilled to 300m below surface) • The small footprint area of the deposit, facilitates access for exploration with small surface area disturbances - reduced exploration costs and environmental impact 8