Doray Minerals : Results of Scheme Meetings

22 March 2019

RESULTS OF SCHEME MEETINGS

Doray Minerals Limited (Doray or the Company) (ASX: DRM) is pleased to announce that the proposed share scheme of arrangement (Share Scheme) and option scheme of arrangement (Option Scheme) (together, the Schemes) have been approved by the requisite majorities of Doray's securityholders at the Scheme Meetings held today.

Details of the proxy votes and votes cast of the Scheme resolutions by Doray's securityholders are set out in Annexure A to this announcement.

The Schemes remain subject to the approval of the Supreme Court of Western Australia (Court) and to certain other conditions, as specified in the Scheme Booklet that was dispatched to securityholders on Wednesday, 20 February 2019 (Scheme Booklet).

COURT HEARING

Doray will attend the Court at 8:30am (Perth time) on Thursday, 28 March 2019 to request that the Court approve the Schemes. If the Court's approval is given, it is expected that the Schemes will be implemented on Friday, 5 April 2019.

If the Share Scheme is implemented, eligible Doray shareholders will receive 0.6772 of a Silver Lake share for every one Doray share they hold as at 5pm on the Record Date, which is proposed to be on Tuesday, 2 April 2019. If the Option Scheme is implemented, Doray optionholders will receive cash consideration of $0.0781 for each option they hold as at the Record Date.

If the Schemes are approved by the Court and all other conditions to the Shares are satisfied (or waived, where permitted), the following timetable is expected to apply:

EVENT	DATE
Court hearing to approve the Schemes	28 March 2019 at 8:30am
Effective Date of the Schemes	29 March 2019
Last date of trading of Doray Shares on ASX	29 March 2019
New Silver Lake Shares to commence trading on ASX on a deferred settlement basis	1 April 2019
Record Date for determining entitlements to the Scheme Consideration	2 April 2019 at 5pm
Implementation Date for the Schemes and the issue of the Scheme Consideration	5 April 2019
New Silver Lake Shares begin trading on ASX on a normal settlement basis	8 April 2019
Removal of Doray from the official list of ASX	9 April 2019 (or as otherwise determined by ASX)
Dispatch of holding statements for Scheme Consideration	On or before 23 April 2019

All times stated above are Western Standard Time. The above dates and times are indicative only and Doray has the right to vary any or all of these dates and times, subject to the approval of such variation by the ASX, the Court and

Silver Lake, where required. Any variation to the above dates and times will be announced to the ASX (and accordingly, details of any variations will be available on ASX's website (www.asx.com.au)) and will be published on Doray's website

(www.dorayminerals.com.au).

Comprehensive particulars in respect of the implementation of the Schemes are set out in the Scheme Booklet. Copies of the Scheme Booklet are accessible fromwww.asx.com.au.

Doray will make further announcements in relation to the Schemes over the coming days, including confirmation of the Scheme implementation timetable once the Schemes have been approved by the Court.

-ENDS-

For further information, please contact:
Leigh Junk	Peter Klinger
Managing Director	Cannings Purple
Doray Minerals	P: 0411 251 540
[phone]	E:[e-mail]

2

ANNEXURE A

RESULTS OF SCHEME MEETINGS

Doray Minerals Limited

Share Scheme Meeting

Friday, 22 March 2019

Voting Results

The following information is provided in accordance with section 251AA(2) of the Corporations Act 2001 (Cth).

1 Approval of the Share

Scheme

Instructions given to validly appointed proxies (as at proxy close)
For	Against	Proxy's Discretion	Abstain
279,361,680 98.85%	2,288,950 0.81%	961,506 0.34%	176,336

* Votes cast by a person who abstains on an item are not counted in calculating the required majority on a poll.

Number of votes cast on the poll
For	Against	Abstain*
280,329,343 99.19%	2,288,950 0.81%	176,336
Number of shareholders voting on the poll
For	Against	Abstain*
779 96.29%	30 3.71%	3

Carried

Doray Minerals Limited Option Scheme Meeting Friday, 22 March 2019

Voting Results

The following information is provided in accordance with section 251AA(2) of the Corporations Act 2001 (Cth).

Resolution details

Resolution

1 Approval of the Option

Scheme

Instructions given to validly appointed proxies (as at proxy close)
For	Against	Proxy's Discretion	Abstain
657,392 100.00%	0 0.00%	0 0.00%	0

* Votes cast by a person who abstains on an item are not counted in calculating the required majority on a poll.

Number of votes cast on the poll
For	Against	Abstain*
657,392 100.00%	0 0.00%	0
Number of optionholders voting on the poll
For	Against	Abstain*
7 100.00%	0 0.00%	0

Carried