Ann: Drilling Confirms Extension-Thick Massive Sulphide, Prieska, page-3

I have been following and acquiring ORN shares since mid 2016. Management has done a great job in keeping the market informed, but I believe some of the info provided has not been absorbed or taken into account by the market. ORN has recently put out their maiden JORC compliant Global Mineral Resource on the Prieska Project. The Deep Sulphide resource is calculated to be 22.6Mt. This is only for the 70% that falls within the current tenement area. The tables and figures to the mineral resource show that there is another 30% of the Deep Sulphide resource to the SE - SE Target extension which is currently under permit application. Per the announcement of 19 Feb 2018, "Permitting of the SE Target extension is anticipated to be completed in coming weeks so that drilling can continue to test the strike extent of the Deep Sulphide Target" - this is the area in which the 30% additional resource is - meaning potentially another 9.69Mt (22.6Mt /70% x 30%) will be added to the resource in the next couple of months - total Deep Sulphide resource then 32.29Mt.

The announcement of 19 Feb 2018 also stated that the latest drilling results, which was not included in the mineral resource, has confirmed that "the Inferred Resource reported in the ASX release on 8 February 2018, is open down-dip and to the south-west and emphasises potential to increase the current Mineral Resource in the NW Trough Target area".

From the above it is safe to assume that the mineral resource will be substantially extended on both ends of the strike. It is interesting to note the comment that was made by Errol Smart in the mineral resource announcement "This maiden Mineral Resource for Prieska far exceeds our original expectations for the target tested and demonstrates that the Prieska Project can be classified as a giant VMS body" - for the deposit to be classified as a giant VMS body, it has to be larger than 100Mt. Originally 47Mt was mined by Anglo Vaal, which means more than 53Mt should be there. Take it that another +-19.5Mt should come from the NW Trough and Hinge target areas / other areas in Deep Sulphide target area (32.29Mt + 19.5Mt + 1.5Mt Supergene/Oxide > 53Mt).