Orange Minerals NL (ASX:OMX) entered into a term sheet agreement to acquire P25/2597/ P25/2688/ P26/4470 Tenaments from Rocky Reef Mining Pty Ltd for AUD 0.05 million on November 10, 2022. The consideration payable by Orange Minerals to the Rocky Reef for the Sale comprises of AUD 0.025 million worth of fully paid Orange Minerals ordinary shares at an issue price equal to the 5 day VWAP of Orange Minerals immediately prior to the date of execution (to be issued from the Company's placement capacity under ASX Listing Rule 7.1), AUD 0.025 million in cash, and a 1.5% net smelter royalty on any minerals extracted from the Rocky Reef Mining acquisition tenements.