Ora Banda Mining Limited announced an updated Mineral Resource for the Waihi Prospect, a key part of the Company's Davyhurst Gold Project. Waihi is located just 3.2 km from the Davyhurst processing plant. The Mineral Resource at the Waihi Project has increased by 190% from 0.9 Mt at 2.4 g/t Au for 71,000 ounces of contained gold to 2.46 Mt at 2.6 g/t for 206,000 ounces of contained gold. The company's total Mineral Resource has accordingly increased to 23.8 Mt at 2.6 g/t Au for 1.99 million ounces of contained gold. The Waihi open pit Mineral Resource estimate is based on a gold price of AUD 2,4001 per ounce, a lower block cutoff grade of 0.5 g/t Au and is physically constrained to the area within an optimum AUD 2,400 per ounce open pit shell that extends to a depth of 140 metres. The Waihi underground Mineral Resource estimate is limited to the area beneath the optimum AUD 2,400 per ounce open pit shell but with a higher block cutoff grade of 2.0 g/t Au to reflect the increased cost of underground mining Further details of the new Waihi Mineral Resource estimate are provided in Tables. The updated Waihi Mineral Resource follows the successful completion of a 65 RC drill hole (6,313metres) and 15 Diamond drill hole (3,656 metres) resource definition and extensional drilling program by Ora Banda. Importantly, as a result of this focussed infill drilling program, the higher confidence Indicated component has increased by 107,000 ounces (170%) to 169,000 ounces. The Mineral Resource previously reported for Waihi was derived from an unconstrained Resource model whereas the new Resource estimate has been derived following the application of various constraints and modifying factors (refer to sections on Price, Cut-off grades & Modifying Factor for further details). Detailed mine design work aimed at defining the optimum economically viable mining envelope for an open pit at Waihi has commenced. Additional work streams including subjecting Waihi ore to a range of metallurgical tests, geotechnical studies to ascertain optimum open pit wall angles and environmental studies required for the approval process have also now commenced.