Recommended Cash Offer by Orion Mine Finance to Acquire Dalradian Resources Inc. - Seite 2

Patrick F.N. Anderson, CEO of Dalradian, stated, "Orion and Osisko are showing great confidence in Northern Ireland, our high grade Curraghinalt project and our West Tyrone workforce. Their goals as strategic investors are completely aligned with ours - to secure planning permission for an underground gold mine and continue advancing the project in a way that benefits all our stakeholders. We will continue to work closely with community members, all levels of government, employees, contractors and local suppliers toward building one of the world's top gold mines."

Jim Rutherford, Non-Executive Chairman of Dalradian, stated, "In the space of less than ten years, Dalradian has succeeded in transforming its flagship Curraghinalt project in Northern Ireland from a virtual grassroots discovery into one of the world's best and highest grade gold deposits, that will provide significant inward investment and economic benefits for the Northern Ireland economy. The premium cash offer from Orion that we have announced today therefore reflects the results of several years' diligent, professional work by the entire Dalradian team. My fellow board directors and I would like to express our thanks and appreciation to all who have been involved in successfully developing the project to this stage."

Major Shareholder Support

Certain funds and accounts under management by subsidiaries of BlackRock Inc., which hold approximately 37,945,699 Dalradian Shares, representing approximately 10.7% of Dalradian's issued and outstanding common shares, have entered into a support agreement (the "Support Agreement") with Orion, agreeing, subject to the terms of the Support Agreement, to vote their Dalradian Shares in favour of the Transaction. Orion and the Remaining Shareholders, who collectively hold approximately 72,695,911 Dalradian Shares, representing approximately 20.4% of Dalradian's issued and outstanding common shares, have each agreed to continue to hold its Dalradian Shares and also to vote in favour of the Transaction.

Independent Committee and Board of Directors Recommendations

An independent committee of Dalradian's board of directors (the "Independent Committee") comprised of Jonathan Rubenstein, Patrick Downey and Thomas Obradovich was constituted to consider the Transaction. The Independent Committee, on behalf of the Dalradian Board of Directors, obtained a formal valuation (the "Valuation") from Raymond James Ltd. ("Raymond James") as required by Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Valuation was prepared under the supervision of the Independent Committee and determined that in Raymond James' opinion, and based upon and subject to the assumptions, limitations and qualifications set forth therein, the fair market value of the Dalradian Shares, as at June 20, 2018 is in the range of C$1.35 to C$1.70 per Dalradian Share. In addition, Raymond James has provided a fairness opinion to the Independent Committee (the "Raymond James Fairness Opinion"), stating that in its opinion, and based upon and subject to the assumptions, limitations and qualifications set forth therein, the Consideration to be received by the Affected Dalradian Shareholders pursuant to the Arrangement Agreement is fair, from a financial point of view, to such Affected Dalradian Shareholders.