Doray Minerals : Schemes Become Effective

29 March 2019

SCHEMES BECOME EFFECTIVE

Doray Minerals Limited (Doray or the Company) (ASX: DRM) is pleased to announce that the orders made by the Supreme Court of Western Australia (Court) yesterday approving the share scheme of arrangement (Share Scheme) and option scheme of arrangement (Option Scheme) (together, the Schemes) have been lodged today with the Australian Securities and Investments Commission.

As a result, the Schemes are now effective. A copy of the orders of the Court are attached to this announcement.

The following timetable will apply to the implementation of the Schemes:

EVENT	DATE
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	1 April 2019
settlement basis
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	5 April 2019
Consideration
New Silver Lake Shares begin trading on ASX on a normal settlement	8 April 2019
basis
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

-ENDS-

For further information, please contact:

Leigh Junk Managing Director Doray Minerals [phone]

IN THE SUPREME COURT OF WESTERN AUSTRALIA

	COR/21/2019
EX PARTE:
DORAY MINERALS LIMITED (ACN 138 978	First Plaintiff
631)

_____________________________________________________________________

ORDERS OF THE HONOURABLE JUSTICE VAUGHAN

MADE 28 March 2019

_____________________________________________________________________

UPON the application of the plaintiff by originating process dated 31 January 2019 and upon hearing AJ Papamatheos of counsel for the plaintiff IT IS ORDERED THAT:

1.Pursuant to section 411(4)(b) of the Corporations Act 2001 (Cth) (the Act), the scheme of arrangement between the plaintiff, Doray Minerals Limited ACN 138 978 631 (Doray), and the holders of fully paid ordinary shares in the plaintiff, in the form contained in Annexure C to the Scheme Booklet (and which is contained in Annexure DJC-1 (pages 382-396) to the affidavit of Deanna Jayne Carpenter affirmed 26 March 2019), is approved (the Share Scheme).

2.Pursuant to section 411(4)(b) of the Act, the scheme of arrangement between the plaintiff, Doray, and the holders of options to subscribe for fully paid ordinary shares in the plaintiff (exercisable at $0.40 each on or before 30 January 2020), in the form contained in Annexure D to the Scheme Booklet (and which is contained in Annexure DJC-1 (pages 397-408) to the affidavit of Deanna Jayne Carpenter affirmed 26 March 2019), is approved (the Option Scheme).

3.Pursuant to subsection 411(12) of the Act, the plaintiff is exempted from compliance with subsection 411(11) of the Act in relation to the Share Scheme and the Option Scheme.

4.The plaintiff lodge an office copy of these orders with the Australian Securities and Investments Commission on 29 March 2019.

5.These orders are to be entered forthwith.

BY THE COURT

THE HONOURABLE JUSTICE J VAUGHAN