Ann: Redbeard Ore Reserve Upgrade and Golden Gate Drill Results, page-2

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High-grade Ore Reserve for Redbeard
Head grade of 3.5g/t Au makes Redbeard the highest-grade open pit deposit defined at Nullagine to date
Latest exploration results at Golden Gate indicate potential for further High-Grade Resource growth
• Updated Probable Ore Reserve completed for the Redbeard open pit oxide deposit:
o 153,000t @ 3.5g/t Au for 17,200oz of contained gold
• Updated Reserve represents a Resource-to-Reserve conversion rate of ~76% and makes Redbeard the highest grade open pit deposit defined at Nullagine to date
• Mining to commence in late July, with the deposit expected to contribute to strong production growth in the second half of CY2018 towards a 100kozpa production run rate
• Exploration at Redbeard has now transitioned to deeper drilling to assess the potential for a future underground mining operation
• Further positive exploration results received from the Golden Gate Mining Centre, located adjacent to Redbeard
• Golden Gate was last mined in 2014, producing 55,952oz at an average grade of 2.58g/t Au making it one of the highest-grade open pit oxide ore sources mined at Nullagine
• Latest results include:
Goshawk Prospect
• 3m @ 7.51g/t Au from 53m including 2m @ 10.13g/t Au (GGX0214)
• 4m @ 4.34g/t Au from 36m including 1m @ 10.75g/t Au (GGX0216)
• 7m @ 1.21g/t Au from 29m (GGX0217)
• 6m @ 3.76g/t Au from 14m including 3m @ 6.22g/t Au (GGX0219)
• 18m @ 1.22g/t Au from 5m (GGX0248)
H Reef Prospect
• 2m @ 3.41g/t Au from 5m (GGX0204)
• 8m @ 1.91g/t Au from 36m (GGX0198)
Sparrow Prospect
• 6m @ 1.59g/t Au from 25m (GGX0190)
• 4m @ 1.57g/t Au from 43m (GGX0190)
Magpie Prospect
• 3m @ 3.49g/t Au from 6m, including 1m @ 6.78g/t Au (GGX0089)
• Interpretation of results is underway with a view to designing follow-up drilling programs aimed at establishing JORC Maiden Mineral Resources