Millennium makes progress towards +5 year mine life with...

Millennium makes progress towards +5 year mine life with increase in Reserves ncrease in Reserves to 221,600oz ext step to come in June quarter with sulphide ore processing study to pave way for optimisation of entire Mineral Resource and Ore Reserve inventory • Millennium’s aggressive exploration strategy at the Nullagine Gold Project continues to pay dividends, underpinning a 20% increase in Ore Reserves, net of mining depletion, to 221,600oz • Average Ore Reserve grade increases from 1.4g/t Au to 1.67g/t • Updated Mineral Resource estimate of 22.8 Mt at 1.5g/t for 1,1 00oz, with 738,400oz, or ~6 %, in the higher confidence Measured and Indicated categories • Continued growth in Ore Reserves net of mining depletion reflects the success of the Company’s exploration strategy, underpinning a mine life of over 2.5 years based on oxide reserves alone • Expansion study based on newly identified ulphide Ore processing option (see announcement of 5 February) is nearing completion, paving the way for a major re optimisation of the Company’s entire Mineral Resource and Ore Reserve inventory • The completion of this study is expected to allow Millennium to convert additional Measured and Indicated Sulphide Resources to Ore Reserves towards the middle of 2018, targeting a significant uplift of total Ore Reserves • A successful study will mark a major step towards Millennium’s objective of increasing production at Nullagine to +100,000ozpa with a minimum 5 year mine life