ann out: confirming merger, page-6

complain to Mr.Market - quite a few producers are the some

from release:

HIGHLIGHTS
• Silver Lake Resources to acquire Integra Mining via a unanimously recommended Scheme of Arrangement at an exchange ratio of 1 new Silver Lake share for every 6.28 Integra shares
• Offer values Integra at 45.2 cents and represents a 44% premium to the last closing price and a 40% premium to the 20-day VWAP
• Integra shareholders to hold ~40% of the enlarged Silver Lake
• Proposed Scheme will create a major Australian gold producer with a 6.6Moz resource base (inclusive of 1.8Moz of Ore Reserves) current production of 200,000 oz pa and forecast production of +400,000oz pa in 2014
• Transaction offers a rare opportunity in the resources sector to create material value for
shareholders of both companies given the proximity of operating mines, mills and combined
tenement holdings: \
o Operational synergies at Mount Monger with ability to substantially increase future production and reduce future operating and capital costs
o Economies of scale and ability to optimise production outcomes o Reduction of corporate and operational overheads o Access to Silver Lake’s underground mining expertise to de-risk Integra’s proposed
underground operations o Ability to optimise exploration spend with access to Integra’s highly regarded
exploration team o Scale/breadth of technical resources to further de-risk development of Murchison
Project
• Enlarged Silver Lake to have strengthened balance sheet with A$107 million in cash • Integra shareholders will benefit from project diversification and scale , attributes increasingly
sought by institutional investors