Ann: Thick high grade results at Santa confirm UG mine potential, page-5

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Thick, high grade results at Santa confirm potential for athird shallow underground mine at Mount Belches▪ Nine holes of a thirteen hole diamond program have been completed to infillthe untested zone of the western BIF limb between the base of the SantaNorth open pit and the raft of high grade intersections reported in June 20181extending the plunge of the zone to south of the June 2018 results▪ Hole 18SADD004 returned the thickest, high grade intersection to date atSanta with 29.8m @ 5.44 g/t. The intersection is positioned between thebase of the open pit and the identified high grade south plunging zone, withthe top of mineralisation ~80m beneath the pit floor▪ Eight of the nine completed holes have intersected visible gold in the targetzone with the five assays received to date confirming broad zones of highgrade mineralisation including:- 2.41m @ 8.87 g/t Au- 11.5m @ 4.69 g/t Au, including 3.73m @ 11.0 g/t Au- 29.8m @ 5.44 g/t Au, including:4.52m @ 6.13 g/t Au7.57m @ 3.89 g/t Au4.16m @ 4.39 g/t Au4.57m @ 7.30 g/t Au, and3.03m @ 17.0 g/t Au- 1.93m @ 4.8 g/t Au, including 0.28m @ 23.2 g/t Au- 0.50m @ 62.0 g/t Au▪ Mineralisation in drill core is observed to be consistent with the high gradeBIF lodes seen at the Maxwells and Cock-eyed Bob underground mines▪ The successful drilling at Santa following the establishment of the shallow,high grade Maxwells and Cock-eyed Bob mines highlights the significantexploration potential in the 25km of target BIF horizons at Mount BelchesSilver Lake Resources Limited Managing Director Luke Tonkin said:“The continued intersection of broad, high grade, visible gold mineralisation atSanta increases our confidence in the potential for Santa to host a third shallow,underground mine at Mount Belches.The Mount Belches operating model has proved to be highly successful asdemonstrated from the operating results at Maxwells and Cock-eyed Bob. Thepotential to increase production through the development of numerous BIF hosteddeposits within the Mount Belches Mining Centre has the potential to add significantvalue to Mount Monger with the addition of higher margin ounces to the Randallsmill.