GR ENGINEERING SERVICES LIMITED — Capital/Financing Update 2013

Feb 24, 2013

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ASX RELEASE

25 February 2013

For immediate release to the market

Award of $16 million EPC Contract Carosue Dam Tertiary Crushing Project

• Notice of award for the Carosue Dam Tertiary Crushing Project EPC Contract

• Contract price approximately $16 million with 40/60 split in revenue for FY13 and FY14

• Immediate start, completion December quarter 2013

GR Engineering Services Limited (ASX:GNG) ( GR Engineering or Company ) is pleased to advise that it has been issued with a notice of contract award by Saracen Mineral Holdings Limited (ASX:SAR) ( Saracen ) in relation to the engineering, procurement and construction (EPC) contract for the Carosue Dam Tertiary Crushing Project near Kalgoorlie in Western Australia.

The contract price is approximately $16 million, with formal award being subject to the preparation and execution of formal contract documentation which is expected in the next 4 weeks. The contract price has been determined on a lump sum basis and GR Engineering will commence design work immediately with project completion scheduled in December quarter, 2013. The contract revenue split for FY13 and FY14 is estimated as 40/60. This project represents a key component of Saracen’s development plan to expand the Carosue Dam Process Plant throughput capacity to 3.2 Mtpa.

Joe Ricciardo, Managing Director of GR Engineering, said in relation to the notice:

“GR Engineering is pleased to have been awarded the EPC Contractor for the Carosue Dam Tertiary Crusher Project. It is particularly pleasing given that most of our senior personnel were previously responsible as JR Engineering for the original design and construction of the very successful Carosue Dam Gold Processing Facility in 2000/2001. Our experience and track record in successful project execution has been recognised by Saracen together with our extensive expertise and experience in brownfields projects.”

Ends.

For further information:

Joe Ricciardo Media Enquiries Managing Director Sara Clafton Clafton Counsel  (08) 6272 6000  +61 414 300 095  joe.ricciardo@gres.com.au  sclafton@claftoncounsel.com.au

GR Engineering Services Limited (ASX:GNG) is an engineering, consulting and contracting company specialising in fixed price engineering design and construction services to the resources and mineral processing industry.

GR ENGINEERING SERVICES LIMITED ABN 12 121 542 738 Tel: +61 8 6272 6000 Fax: +61 8 6272 6001 Email: gres@gres.com.au Website: www.gres.com.au PO Box 258, Belmont WA 6984 179 Great Eastern Highway, Belmont WA 6104

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Founded in Perth, Western Australia in 2006, GR Engineering has rapidly grown through the completion of design and construction projects for a diverse range of clients, including global mining houses, mid-tier miners and junior developers undertaking their first project.

GR Engineering has undertaken feasibility studies for projects in over 20 countries. These studies play a key role in delivering organic growth opportunities through their conversion into design and construction projects.

GR Engineering directly employs approximately 255 professional and support staff at its offices in Perth, Kalgoorlie and Brisbane in addition to its direct construction workforce and subcontractors.

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