Orange Minerals NL: Half-year financial statements

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Orange Minerals NL

Directors’ report

The directors of Orange Minerals NL (“Orange” or “the Company”) submit the financial report of Orange Minerals NL and its controlled entities (“the Group”) for the six months ended December 31, 2021. In order to comply to the provisions of the Companies Act 2001the administrators report as follows:

Names of directors

The names of the directors of the Company during or since the end of the half-year are:

Mr. John Campbell Smyth (appointed August 24, 2021)

Mr. David Hugh Greenwood (appointed August 24, 2021)

Mr. Conrad George Manuel Karageorge (appointed May 24, 2021)

Mr. David Kenneth Wallace Michael (resigned August 24, 2021)

Mr. Peter Basil Wallace Michael (resigned August 24, 2021)

Operations report

The Group’s consolidated loss for the six months ended December 31, 2021 amounts to $1,303,861.

Exploration

Calarie Project

During the first half of the year, the Company completed a Phase 1 drilling program at the Calarie Gold Project (Calarie) in New South Wales. Ten RC holes were completed for a total of 1,044 meters drilled and the drilling was planned to validate the historical drill holes and seek to extend the mineralized horizons intersected in previous drill programs.

Samples have been sent to the laboratory for analysis with results expected in early 2022. Following receipt of the analysis results, the Company intends to undertake a resource review and begin planning for Phase 2 of the drilling program at Calarie.

Wisemans Creek Project

During the December 2021 quarter, the Company conducted a desk review of the project area to determine optimal areas for an initial drilling program. A phase 1 RC drill program of at least 500 m has been designed at the Black Bullock mine prospect. The objective of this drilling campaign is to confirm the existing gold mineralization established by historical drilling and to test potential extensions at depth.

The Black Bullock mining area corresponds to a distinct geophysical anomaly. Along with the observed trends in mineralization and historical workings, a distinct northwest/southeast trend is evident in the regional geophysical datasets, extending out to 6.5 km. Several transverse structures seem to correspond to certain construction sites.

An ESF4 application for drilling has been submitted to the Department and drilling is expected to commence once all approvals have been received.

Eastern Goldfields Projects, WA

During the December 2021 quarter, a desk study was initiated to identify and prioritize drill targets within the buildings of the Eastern Gold Fields Majestic Project. This work included a field visit at the end of November 2021.

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