NORTHERN STAR RESOURCES LTD - Capital/Financing Update 2015

NORTHERN STAR GROWS JUNDEE MINE LIFE WITH ANOTHER ~300,000oz IN RESOURCES and 32,000oz in RESERVES Plus further increases to come on back of lodes yet to be modelled and fresh strong drilling results

KEY POINTS

Successful exploration at Jundee has added ~300,000oz to Resources and 32,000oz to Reserves (despite120,000oz being mined since last calculation in July 2014)
New estimates exclude many lodes which were not modelled in time for the revised calculations done at 31 December 2014
Latest drilling has generated a host of high-grade results also not incorporated in new estimates, including:
0.3m at 1,010gpt gold (est true width 0.3m) from 65m

ASX ANNOUNCEMENT 16 February 2015

0.65m at 733gpt gold (est true width 0.7m) from 228m
0.3m at 587gpt gold (est true width 0.3m) from 36m
0.3m at 543gpt gold (est true width 0.3m) from 69m

Australian Securities Exchange Code: NST

Board of Directors

Mr Chris Rowe Non-Executive Chairman

Mr Bill Beament Managing Director

Mr Peter O’Connor Non-Executive Director

Mr John Fitzgerald Non-Executive Director

Ms Liza Carpene Company Secretary

Issued Capital

Shares 592.3 million Options 4.2 million Current Share Price A$1.97 Market Capitalisation A$1.17 billion Cash and Cash Equivalents 31 Dec 2014 - A$119.1 million

Level 1, 388 Hay St Subiaco WA 6008 T +6 8 6188 2100 F +6 8 6188 2111 E [email protected] www.nsrltd.com

1.5m at 444gpt gold (est true width 1.1m) from 231m
Results provide more firm evidence that Northern Star’s A$50m exploration campaign will continue to grow the lives of each of the Company’s mines
Jundee drilling now focused on targeting the mineralisation down-plunge of the main lode systems, the substantial spaces in between and the significant unmined east-west structures

Northern Star Resources Limited (ASX: NST) is pleased to announce an increase in Resources and Reserves at its Jundee gold mine in WA.

Resources have increased by 299,000oz to 1.15moz (9.2Mt at 3.9gpt) and Reserves have increased by 32,000oz to 415,000oz (2.7Mt at 4.7gpt). The increases come despite 120,000oz being mined since the estimates were last calculated in July 2014.

The new underground Resource is 3.3Mt at 7.7gpt for 826,000oz, a 21,000oz increase. The new underground Reserve is 1.6Mt at 7gpt for 363,000oz, a ~24,000oz increase despite the ~120,000oz mined.

The latest drilling at Jundee has also returned a series of strong results which are not included in this Resource-Reserve increase (refer to Figure 1).

The new estimates provide more firm evidence that Northern Star’s A$50 million campaign to grow the lives of all its mines is achieving its objective.

They also show that Northern Star is continuing to replace all the gold it is producing at Jundee, which is operating at the rate of ~200,000ozpa.

Northern Star revealed last month that its aggressive Company-wide exploration campaign had generated a host of high-grade drilling results at its Paulsens mine in WA. It said these intersections pointed to a significant increase in Resources at Paulsens.

In the December Quarter of last year, Northern Star unveiled two significant discoveries: White Feather at its Kanowna Belle mine and Millennium at its Kundana project.

At Jundee, the latest Resource and Reserve estimates exclude many lodes that were not modelled in time to meet the December 31 deadline for the latest calculation.

ABN: 43 092 832 892

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ASX ANNOUNCEMENT – 16 FEBRUARY 2015

This drilling is ongoing with the aim of targeting the mineralisation down-plunge of the main lode systems at Jundee.

The drilling is also designed to test for key geological structures running in an east-west direction. Most of the known mineralisation at Jundee is hosted in north-south structures, with the east-west structures having been subjected to extremely limited drilling.

Drilling is also targeting the substantial area between the prominent north-south structures currently being mined.

This is the second Resource upgrade at Jundee since Northern Star acquired the project on 1 July last year. In July last year, the Company announced a 68% increase in the Jundee Resource, taking it to 851,000oz.

The new total Jundee Resource of 1.15Moz includes a maiden open-pit Resource of 4.7Mt at 1.8gpt for 270,000oz. Mining and optimisations studies will be undertaken as there is substantial idle capacity in the processing plant for oxide material.

Northern Star Managing Director Bill Beament said the latest Resource-Reserve increase results supported the Company’s belief that there was a lot more gold to be discovered at Jundee.

“We have always been confident that we can grow the mine lives of each of our projects,” Mr Beament said. “The results of our A$50 million exploration campaign continue to demonstrate that our confidence is justified.

“We have now posted two Resource and Reserve upgrades at Jundee in six months, substantially grown the Pegasus Resource at Kundana, extended the known mineralisation significantly at Paulsens and made discoveries at Kanowna Belle and Kundana.

“We have no doubt that the strong drilling results and further Resource-Reserve upgrades will continue thanks to the 22 rigs we have in operation across our sites.”

Yours faithfully

==> picture [104 x 26] intentionally omitted <==

BILL BEAMENT Managing Director Northern Star Resources Limited

Jundee Long Section - All results recorded were received after the 31 December 2014 resource cut-off.

==> picture [568 x 271] intentionally omitted <==

Figure 1 - Long section view (looking North to South) of the Jundee drill results. Intersections denoted are downhole lengths and uncut.

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ASX ANNOUNCEMENT – 16 FEBRUARY 2015

Competent Persons Statements

The information in this announcement that relates to the Jundee Mineral Resource estimations, exploration results, data quality, geological interpretations and potential for eventual economic extraction, is based on information compiled by Brook Ekers, (Member Australian Institute of Geoscientists), who is a full-time employee of Northern Star Resources Limited. Mr Ekers has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" for the Jundee Gold Deposit. Mr Ekers consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.

Information in this announcement that relates to the Jundee Ore Reserves has been compiled by or under the supervision of William Stirling, Senior Mining Engineer, who is a full-time employee of Northern Star Resources Limited. Mr Stirling has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Stirling is a Member of the Australasian Institute of Mining and Metallurgy and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward Looking Statements

Northern Star Resources Limited has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this announcement. To the maximum extent permitted by law, none of Northern Star Resources Limited, its directors, employees or agents, advisers, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it.

This announcement is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any security, and neither this announcement nor anything in it shall form the basis of any contract or commitment whatsoever. This announcement may contain forward looking statements that are subject to risk factors associated with gold exploration, mining and production businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including but not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve estimations, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory changes, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates.

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ASX ANNOUNCEMENT – 16 FEBRUARY 2015

GOLD MINERAL RESOU As at 31 December 2014	RCES	M	Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's)Competent Person EASURED(M) INDICATED(I) INFERRED(Inf) TOTAL(MI&Inf)	Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's)Competent Person EASURED(M) INDICATED(I) INFERRED(Inf) TOTAL(MI&Inf)	Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's)Competent Person EASURED(M) INDICATED(I) INFERRED(Inf) TOTAL(MI&Inf)	Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's)Competent Person EASURED(M) INDICATED(I) INFERRED(Inf) TOTAL(MI&Inf)	Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's)Competent Person EASURED(M) INDICATED(I) INFERRED(Inf) TOTAL(MI&Inf)	Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's)Competent Person EASURED(M) INDICATED(I) INFERRED(Inf) TOTAL(MI&Inf)	Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's)Competent Person EASURED(M) INDICATED(I) INFERRED(Inf) TOTAL(MI&Inf)	Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's)Competent Person EASURED(M) INDICATED(I) INFERRED(Inf) TOTAL(MI&Inf)	Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's)Competent Person EASURED(M) INDICATED(I) INFERRED(Inf) TOTAL(MI&Inf)	Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's)Competent Person EASURED(M) INDICATED(I) INFERRED(Inf) TOTAL(MI&Inf)	Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's)Competent Person EASURED(M) INDICATED(I) INFERRED(Inf) TOTAL(MI&Inf)	Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's)Competent Person EASURED(M) INDICATED(I) INFERRED(Inf) TOTAL(MI&Inf)
Based on attributable ounces Au		Tonnes (000's)

JUNDEE GOLD PROJECT
Underground
Barton
Cardassian		67	6.5	14	42	4.4	6	3	10.4	1	112	5.8	21	1
Gateway		59	7.9	15	458	7.4	109	365	4.9	58	882	6.4	182	1
Hamptons		-	-	-	91	5.5	16	-	-		91	5.5	16	1
Invicta		-	-	-	54	7.5	13	36	19.2	22	90	12.1	35	1
Nexus/Moneyline/Midas		-	-	-	-	-		1,209	9.3	363	1,209	9.3	363	1
Nim3/Champagne		165	9.4	50	210	7.7	52	73	5.1	12	448	7.9	114	1
Westside/Lyons		84	7.0	19	39	8.0	10	28	6.7	6	151	7.2	35	1
Wilson		338	4.88	53	13	14.4	6	11	2.8	1	362	5.2	60	1
Subtotal Jundee Underground	713		6.6 151 907 7.3 212 1,725 8.4 463 3,345 7.7 826

Open Pit
Cook					17	12.8	7	163	5.5	29	180	6.2	36
Desert Dragon					259	2.2	18	112	1.9	7	371	2.1	25
Gourdis					893	1.6	47	2,575	1.4	119	3,468	1.5	166
Menzies					426	2.0	27	298	1.9	18	724	1.9	45

Subtotal Jundee Open Pit	-		- - 1,595 1.9 99 3,148 1.7 173 4,743 1.8 272
			-

Stockpiles		1,144	1.3	48							1,144	1.3	48	1
Gold in Circuit				4									4	1

Subtotal Jundee Stockpiles	1,144		1.4 52 1,144 1.4 52

Subtotal Jundee	1,857

Note :

Mineral Resources are inclusive of Reserves.
Mineral Resources are reported using a gold price of A$1,600 /oz Au.
Rounding may result in apparent summation differences between tonnes, grade and contained metal content;
Numbers are 100 % NSTattributable .
The Jndee December 2014 Resource for the established underground mine areas has undergone detailed economic assessment. The application of such detailed mining and economic factors in the reporting of Resource is not common industry practice in the Australian mining industry. Common practice (not necessarily the most appropriate or correct) involves reporting a Resource above a cut-off grade. In the experience of Jundee Operations this can be highly misleading, especially with narrow vein high-grade underground deposits where appreciable dilution and mining/processing costs will be incurred. Jundee Operations have reported diluted mineable Resource for all established underground mine areas.

Competent Person

Brook Ekers

Information in this announcement that relates to the Company Mineral Resource estimations, exploration results, data quality, geological interpretations and potential for eventual economic extraction, is based on information compiled by the relevant Northern Star personnel under the supervision of Brook Ekers (Member AIG), who is a full-time employee of Northern Star Resources Limited. Mr Ekers has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" for the Company compilation. Mr Ekers consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.

Table 1: Jundee Mineral Resource Summary as at 31 December 2014

GOLD MINERAL RESERVES As at 31 December 2014 Tonnes Based on attributable ounces Au (000's)	GOLD MINERAL RESERVES As at 31 December 2014 Tonnes Based on attributable ounces Au (000's)	GOLD MINERAL RESERVES As at 31 December 2014 Tonnes Based on attributable ounces Au (000's)	PROVED PROBABLE PROVED and PROBABLE Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) Competent Person	PROVED PROBABLE PROVED and PROBABLE Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) Competent Person	PROVED PROBABLE PROVED and PROBABLE Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) Competent Person	PROVED PROBABLE PROVED and PROBABLE Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) Competent Person	PROVED PROBABLE PROVED and PROBABLE Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) Competent Person	PROVED PROBABLE PROVED and PROBABLE Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) Competent Person	PROVED PROBABLE PROVED and PROBABLE Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) Competent Person	PROVED PROBABLE PROVED and PROBABLE Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) Competent Person	PROVED PROBABLE PROVED and PROBABLE Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (gpt) (000's) (000's) (gpt) (000's) (000's) (gpt) (000's) Competent Person

JUNDEE GOLD PROJECT
Underground
Barton
Cardassian		67	6.5	14	42	4.4	6	109	5.7	20	1
Gateway		59	7.9	15	458	7.4	109	517	7.5	124	1
Hamptons			-		91	5.5	16	91	5.5	16	1
Invicta			-		54	7.5	13	54	7.5	13	1
Nexus/Moneyline/Midas			-			-		-	-	-
Nim3/Champagne		165	9.4	50	210	7.7	52	375	8.5	102	1
Westside/Lyons		84	7.0	19	39	8.0	10	123	7.3	29	1
Wilson		338	4.88	53	13	14.4	6	351	5.2	59	1
Subtotal	713		6.6 151 907 7.3 212 1,620 7.0 363

											.
Subtotal Open Pit	-		- - - - - - - -

Stockpiles		1,144	1.3	48				1,144	1.3	48	1
Gold in Circuit				4						4	1

Subtotal Jundee Stockpiles	1,144		1.4 52 1,144 1.4 52

Subtotal Jundee	1,857		3.4 203 907 7.3 212 2,764 4.7 415

Note :

Mineral Reserves are reported at the following gold prices of A$1,400/oz Au.
Tonnages include allowances for losses resulting from mining methods with tonnages rounded to the nearest 1,000 tonnes. Note areas of 100% resource conversion due to s internal reporting criteria.
Ounces are estimates of metal contained in the Mineral Reserve and do not include allowances for processing losses.

Competent Person

1. Bill Stirling

Table 2: Jundee Mineral Reserve Summary as at 31 December 2014

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ASX ANNOUNCEMENT – 16 FEBRUARY 2015

				JUNDEE SIGNIFICANT INTERSECTIONS	JUNDEE SIGNIFICANT INTERSECTIONS	JUNDEE SIGNIFICANT INTERSECTIONS	JUNDEE SIGNIFICANT INTERSECTIONS
Drill Hole #	Easting (Mine Grid)	Northing (Mine Grid)	Drill hole collar RL (Mine Grid)	Dip (degrees)	Azimuth (degrees, Mine Grid)	End of hole depth (m)	Downhole From (m)	Downhole To (m)	Downhole Intersection (m)	Au (gpt) uncut	Est True Thickness (m)
CDXP0373	49847	97691	2427	2	145	314.9	0.00	4.40	4.40	10.5	1.8
CDXP0374	49847	97691	2427	7	140	249.9	0.00	2.00	2.00	1.7	0.5
CDXP0374	49847	97691	2427	7	140	249.9	67.00	67.50	0.50	3.8	0.3
CDXP0375	49848	97691	2427	7	151	252.0	213.30	214.25	0.95	14.6	0.8
CDXP0375	49848	97691	2427	7	151	252.0	216.46	217.10	0.64	16.5	0.6
CDXP0376	49847	97691	2427	2	151	246.0	0.00	4.60	4.60	10.5	1.2
CDXP0376	49847	97691	2427	2	151	246.0	200.15	200.45	0.30	51.8	0.3
CDXP0376	49847	97691	2427	2	151	246.0	206.80	207.25	0.45	28.2	0.3
GWGC0557	48860	95983	2142	-15	261	40.0			NSI
GWGC0558	48859	96001	2143	-17	259	35.0			NSI
GWGC0559	48946	95686	2362	13	39	114.0	90.80	94.82	4.02	29.4	4.0
GWGC0559	48946	95686	2362	13	39	114.0	96.49	96.82	0.33	10.3	0.3
GWGC0560	48946	95686	2362	19	52	127.0			0.00
GWGC0561A	48946	95686	2361	-24	70	70.0	60.43	60.91	0.48	15.2	0.5
GWGC0562	48967	95637	2362	-36	35	79.0	41.48	45.34	3.86	39.0	3.9
GWGC0563	48967	95637	2362	88	-18	55.9	45.61	46.00	0.39	126.0	0.3
GWGC0564	48967	95637	2363	157	15	63.8			NSI
GWGC0565	48984	95595	2364	173	13	60.3			NSI
GWGC0566A	48916	95789	2069	4	277	121.9	76.20	77.00	0.80	14.2	0.8
GWGC0566A	48916	95789	2069	4	277	121.9	80.20	81.06	0.86	20.2	0.9
GWGC0566A	48916	95789	2069	4	277	121.9	90.65	91.00	0.35	41.6	0.4
GWGC0567									NSI
GWGC0568	48914	95792	2069	6	244	98.0	53.88	54.45	0.57	26.6	0.6
GWGC0569	48920	95783	2069	6	236	75.0	55.70	56.77	1.07	119.8	0.9
GWGC0569	48920	95783	2069	6	236	75.0	58.00	59.00	1.00	23.9	0.9
GWGC0570	48920	95783	2069	6	201	95.1	66.56	67.10	0.54	21.2	0.3
GWGC0571	48923	95780	2069	5	192	100.9	77.00	79.12	2.12	2.2	1.5
GWGC0572	48923	95780	2069	5	180	115.0	79.93	82.56	2.63	35.2	2.2
GWGC0573	48994	95529	2166	-82	313	1500.0	77.11	77.41	0.30	29.6	0.3
GWGC0573	48994	95529	2166	-82	313	1500.0	93.64	94.05	0.41	115.0	0.3
GWGC0573	48994	95529	2166	-82	313	1500.0	106.73	107.25	0.52	11.5	0.3
GWGC0574	48923	95780	2069	4	169	150.1	105.79	106.18	0.39	241.0	0.4
GWGC0575	49066	95552	2166	14	80	74.6	24.68	25.85	1.17	12.5	1.2
GWGC0576	49066	95551	2167	26	40	50.0	36.20	37.00	0.80	2.4	1.5
GWGC0577	48916	95789	2068	-12	274	122.9	100.92	101.22	0.30	12.0	0.3
GWGC0578	48916	95789	2068	-13	264	112.1	72.62	72.95	0.33	5.6	0.3
GWGC0579	48844	95858	2060	22	245	84.0	27.76	29.33	1.57	24.7	1.4
GWGC0579	48844	95858	2060	22	245	84.0	33.13	35.03	1.90	8.3	1.7
GWGC0579	48844	95858	2060	22	245	84.0	36.33	38.51	2.18	8.0	1.9
GWGC0580	48844	95858	2059	-12	253	85.1	51.62	52.00	0.38	13.0	0.4
GWGC0581									0.00
GWGC0582	48844	95858	2060	22	284	148.1	33.50	34.12	0.62	106.0	0.6
GWGC0583	48844	95866	2060	19	300	72.0	40.10	40.40	0.30	10.3	0.3
GWGC0584	48844	95865	2059	-6	309	95.0	37.79	39.36	1.57	10.3	1.2
GWGC0585									NSI
GWGC0585									NSI
GWGC0586	48849	95851	2059	-10	235	17.7			NSI
GWGC0586A	48849	95850	2059	-10	235	80.7	45.97	46.50	0.53	4.3	0.5
GWGC0586A	48849	95850	2059	-10	235	80.7	62.00	62.43	0.43	13.8	0.3
GWGC0587	48922	95781	2071	28	231	71.2	46.96	50.50	3.54	10.1	3.1
GWGC0588	48922	95781	2071	28	206	72.1	49.00	51.14	2.14	93.1	2.0
GWGC0588	48922	95781	2071	28	206	72.1	53.32	53.62	0.30	14.5	0.3
GWGC0589	48924	95.779.2	2070	24	190	82.0	59.25	62.00	2.75	5.6	2.0
GWGC0590	48924	95779	2070	20	179	105.1	70.00	70.64	0.64	17.2	0.5
GWGC0591	48925	95780	2070	18	169	126.0	89.86	91.70	1.84	46.9	1.3
GWGC0592	48925	95780	2070	16	164	145.0	98.60	99.84	1.24	416.5	0.7
GWGC0592	48925	95780	2070	16	164	145.0	104.46	104.95	0.49	115.0	0.3
GWGC0592	48925	95780	2070	16	164	145.0	111.50	112.17	0.67	248.0	0.4
GWGC0594	48959	95656	2362	-16	42	78.9	67.65	68.40	0.75	24.0	0.7
GWGC0595	48964	95644	2363	-3	44	95.2	26.72	27.04	0.32	26.0	0.3
GWGC0595	48964	95644	2363	-3	44	95.2	70.20	71.44	1.24	23.8	1.1
GWGC0596	48964	95644	2362	-15	47	82.0	25.80	26.33	0.53	12.6	0.4
GWGC0596	48964	95644	2362	-15	47	82.0	28.23	29.18	0.95	4.2	0.9
GWGC0596	48964	95644	2362	-15	47	82.0	50.27	50.58	0.31	35.8	0.3
GWGC0596	48964	95644	2362	-15	47	82.0	50.88	52.17	1.29	2.4	1.2
GWGC0597	48964	95644	2363	-2	58	100.1	59.20	61.15	1.95	92.0	1.8
GWGC0598	48964	95644	2363	-2	58	100.1	72.36	72.86	0.50	4.9	0.4
GWGC0598	48964	95644	2363	6	61	115.0	100.83	101.13	0.30	12.1	0.3
GWGC0599	48970	95629	2363	-13	70	94.2	74.00	77.52	3.52	21.4	3.0
GWGC0600	48970	95628	2362	-29	86	82.0	65.87	66.31	0.44	145.0	0.4
GWGC0601	48974	95619	2362	-26	93	87.2	70.30	73.00	2.70	99.1	1.6
GWGC0602	48979	95608	2362	-51	79	105.4	62.53	62.83	0.30	83.4	0.3
GWGC0603	48964	95644	2362	-35	66	81.8	42.40	43.10	0.70	9.6	0.5
GWXP0148	49073	95729	2146	-29	214	97.9	50.51	51.30	0.79	7.8	0.7
GWXP0148	49073	95729	2146	-29	214	97.9	80.86	81.57	0.71	68.9	0.6
GWXP0149	49081	95726	2151	64	30	195.0			NSI
GWXP0150	49080	95725	2146	-37	198	64.2	39.21	39.80	0.59	33.4	0.3
GWXP0151	49080	95725	2149	21	179	55.1	42.00	42.40	0.40	7.0	0.3

Page 5 of 16

ASX: NST

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

				JUNDEE SIGNIFICANT INTERSECTIONS	JUNDEE SIGNIFICANT INTERSECTIONS	JUNDEE SIGNIFICANT INTERSECTIONS	JUNDEE SIGNIFICANT INTERSECTIONS
Drill Hole #	Easting (Mine Grid)	Northing (Mine Grid)	Drill hole collar RL (Mine Grid)	Dip (degrees)	Azimuth (degrees, Mine Grid)	End of hole depth (m)	Downhole From (m)	Downhole To (m)	Downhole Intersection (m)	Au (gpt) uncut	Est True Thickness (m)
GWXP0151	49080	95725	2149	21	179	55.1	42.00	42.40	0.40	7.0	0.3
GWXP0152	49086	95723	2149	24	140	69.8			NSI
GWXP0153	48992	95849	2357	-25	255	174.9	142.65	143.00	0.35	16.6	0.3
GWXP0154	48992	95849	2357	-23	248	157.1	112.82	113.12	0.30	28.1	0.3
GWXP0154	48992	95849	2357	-23	248	157.1	121.75	123.30	1.55	7.9	1.6
GWXP0155	48992	95849	2357	-20	237	170.3	129.35	129.70	0.35	21.0	0.4
GWXP0155	48992	95849	2357	-20	237	170.3	132.68	133.80	1.12	9.2	1.1
GWXP0156	48992	95848	2357	-21	225	196.0	124.50	127.88	3.38	46.1	3.4
GWXP0156	48992	95848	2357	-21	225	196.0	177.95	178.35	0.40	3.5	0.4
GWXP0157	48982	95997	2244	7	194	333.0	42.00	44.37	2.37	2.7	2.7
GWXP0157	48982	95997	2244	7	194	333.0	291.65	293.23	1.58	8.9	1.2
GWXP0157	48982	95997	2244	7	194	333.0	296.65	296.97	0.32	29.7	0.3
GWXP0158	48982	95997	2244	3	193	345.0	324.67	325.27	0.60	1.8	0.4
GWXP0158	48982	95997	2244	3	193	345.0	325.89	326.27	0.38	1.2	0.3
GWXP0159	48982	95997	2244	2	199	336.9	300.68	301.00	0.32	3.0	0.3
GWXP0159	48982	95997	2244	2	199	336.9	304.90	305.36	0.46	3.8	0.4
GWXP0161	48981	95999	2243	8	210	262.0			NSI
GWXP0162	49011	95496	2166	-60	108	206.6			0.00
GWXP0163A	49012	95495	2166	-39	125	217.8			NSI
GWXP0164	49010	95496	2166	-71	132	179.8	37.90	38.37	0.47	138.0	0.3
GWXP0164	49010	95496	2166	-71	132	179.8	42.12	44.01	1.89	25.9	0.8
GWXP0164	49010	95496	2166	-71	132	179.8	45.22	46.00	0.78	16.4	0.3
GWXP0164	49010	95496	2166	-71	132	179.8	98.76	99.32	0.56	55.0	0.4
GWXP0165	49008	95504	2167	-21	68	169.0	75.00	76.00	1.00	7.2	0.5
GWXP0166	49011	95497	2166	-35	73	160.2			NSI
GWXP0167	49011	95497	2167	-17	84	109.1
GWXP0170	49011	95497	2166	-24	104	149.1			NSI
GWXP0172	49011	95497	2167	-10	115	193.8			NSI
GWXP0173	48994	95529	2165	-82	314	1500.0	255.00	255.30	0.30	6.1	0.3
GWXP0173	48994	95529	2166	-82	313	1500.0	347.00	584.70	237.70
GWXP0173	48994	95529	2166	-82	313	1500.0	761.90	762.40	0.50	3.9	0.4
GWXP0173	48994	95529	2166	-82	313	1500.0	1082.00	1464.00	382.00
GWXP0173	48994	95529	2166	-82	313	1500.0	1464.00	1500.93	36.93
GWXP0175	49005	95498	2167	-23	236	102.0	37.30	37.90	0.60	9.9	0.6
GWXP0177	49005	95498	2170	-18	221	126.0	65.50	65.80	0.30	1010.0	0.3
GWXP0178	49005	95498	2170	-15	212	158.3	31.55	31.85	0.30	144.0	0.3
GWXP0178	49005	95498	2170	-15	212	158.3	72.05	72.35	0.30	80.7	0.3
GWXP0178	49005	95498	2170	-15	212	158.3	80.00	80.80	0.80	88.4	0.3
GWXP0179	49009	95497	2166	-60	138	185.1	98.40	98.70	0.30	4.7	0.3
GWXP0180	49009	95497	2166	-74	155	170.2	79.54	79.85	0.31	11.0	0.3
GWXP0180	49009	95497	2166	-74	155	170.2	87.42	87.86	0.44	11.5	0.4
GWXP0180	49009	95497	2166	-74	155	170.2	107.70	110.73	3.03	15.1	3.0
GWXP0181	48920	95783	2069	-13	227	101.8	69.16	70.70	1.54	11.4	1.5
GWXP0182	48920	95783	2069	-13	213	104.7	78.79	79.45	0.66	6.4	0.7
GWXP0183	48920	95783	2069	-11	202	128.6	78.31	79.10	0.79	51.9	0.8
GWXP0184	48920	95782	2069	-10	193	135.1	93.00	94.00	1.00	16.6	1.0
GWXP0186	49078	95732	2145	-64	11	1500.0	18.00	298.20	280.20
GWXP0186	49078	95732	2146	-64	11	1500.0	298.20	299.00	0.80
GWXP0187	48993	95531	2166	-36	358	143.8	23.50	23.80	0.30	204.0	0.3
GWXP0187	48993	95531	2166	-36	358	143.8	114.45	116.90	2.45	5.8	1.8
GWXP0199	48923	95780	2069	-7	181	156.0	92.23	93.25	1.02	121.7	0.9
GWXP0200	49039	95557	2144	-15	214	89.0			NSI
GWXP0201	49039	95557	2144	-15	203	93.1	73.99	74.45	0.46	6.0	0.4
GWXP0202	49039	95557	2143	-32	200	156.1	103.20	103.52	0.32	29.4	0.3
GWXP0202	49039	95557	2143	-32	200	156.1	110.16	110.50	0.34	16.0	0.3
GWXP0203	49039	95557	2145	-10	180	145.1	76.94	79.36	2.42	4.3	2.0
MLXP0001	49480	96997	2311	10	188	124.9	116.23	116.53	0.30	1.8	0.3
MLXP0002	49667	49481	2311	9	199	131.3	114.30	121.00	6.70	10.9	6.2
MLXP0003	49481	96997	2311	8	208	130.3	115.00	121.00	6.00	9.5	3.2
MLXP0004	49499	96938	2314	24	148	38.0			NSI
MLXP0005	49499	96938	2312	-10	160	71.1			NSI
MLXP0006	96938	96938	96938	-11	188	83.9	32.36	32.66	0.30	3.1	0.3
MLXP0007	49495	96937	2312	13	207	70.1	60.62	60.92	0.30	2.1	0.3
MLXP0008	49495	96937	2312	-6	212	82.8	62.83	67.97	5.14	9.5	3.4
MLXP0008	49495	96937	2312	-6	212	82.8	74.25	74.55	0.30	88.1	0.3
NDGC2674	49904	97312	2112	52	15	105.5			NSI
NDGC2676	49904	97311	2112	81	15	131.2			NSI
NDGC2677	49903	97310	2114	75	30	138.7			NSI
NDGC2678	49833	97119	2186	-9	30	128.5			NSI
NDGC2679	49794	97099	2036	9	34	98.8	83.30	84.00	0.70	6.5	0.6
NDGC2679	49764	97099	2036	9	34	98.8			NSI
NDGC2680	49795	97098	2036	10	45	94.2	81.10	81.40	0.30	247.0	0.3
NDGC2681	49794	97099	2036	10	58	93.0	78.30	78.60	0.30	92.6	0.3
NDGC2682	49751	97167	2037	10	57	95.0			NSI
NDGC2683	49751	97168	2038	19	56	105.3	81.80	82.62	0.82	17.0	0.6

Page 6 of 16

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ASX ANNOUNCEMENT – 16 FEBRUARY 2015

				JUNDEE SIGNIFICANT INTERSECTIONS	JUNDEE SIGNIFICANT INTERSECTIONS	JUNDEE SIGNIFICANT INTERSECTIONS	JUNDEE SIGNIFICANT INTERSECTIONS
Drill Hole #	Easting (Mine Grid)	Northing (Mine Grid)	Drill hole collar RL (Mine Grid)	Dip (degrees)	Azimuth (degrees, Mine Grid)	End of hole depth (m)	Downhole From (m)	Downhole To (m)	Downhole Intersection (m)	Au (gpt) uncut	Est True Thickness (m)
NDGC2686	49848	97156	2056	-2	78	120.0			NSI
NDGC2687	49848	97156	2056	-21	85	94.9			NSI
NDXP0426	49694	97130	2019	-7	64	169.1	133.40	134.10	0.70	4.8	0.5
NDXP0427	49695	97129	2019	-16	64	179.2	131.10	131.40	0.30	30.7	0.3
NDXP0427	49695	97129	2019	-16	64	179.2	137.91	138.50	0.59	132.0	0.6
NDXP0430	49695	97129	2019	-8	55	170.0	127.00	127.30	0.30	15.2	0.3
NDXP0432	49695	97128	2018	-21	71	175.8	145.48	146.84	1.36	4.4	0.8
NDXP0434									NSI
NDXP0435	49467	97110	2031	27	207	285.0			NSI
NDXP0436									NSI
NDXP0437	49467	97110	2031	29	214	311.7	304.65	305.10	0.45	30.9	0.3
NXXP0001	49267	96272	2342	-20	71	237.1	160.50	160.80	0.30	11.6	0.3
NXXP0002	49267	96272	2343	3	74	209.3	114.12	114.44	0.32	12.6	0.3
NXXP0002	49267	96272	2343	3	74	209.3	200.65	200.95	0.30	11.6	0.3
NXXP0003	49267	96272	2342	-7	85	180.0	104.32	105.17	0.85	32.3	0.8
NXXP0004	49267	96270	2343	3	103	234.0	165.30	165.80	0.50	10.7	0.5
NXXP0005	49263	96268	2342	-6	123	141.0	121.55	122.34	0.79	6.8	0.7
NXXP0005	49263	96268	2342	-6	123	141.0	123.81	124.49	0.68	6.4	0.6
NXXP0006	49263	96268	2342	-28	126	144.0	118.67	119.17	0.50	4.9	0.5
NXXP0006	49263	96268	2342	-28	126	144.0	133.20	133.70	0.50	5.1	0.3
NXXP0007	49234	96282	2341	20	75	210.0			NSI
NXXP0008	49234	96282	2341	19	63	228.0			NSI
NXXP0009	49234	96282	2340	3	60	270.0	176.99	179.15	2.16	23.5	1.6
NXXP0010	49234	96282	2340	14	57	342.0	257.04	258.10	1.06	10.7	0.9
NXXP0010	49234	96282	2340	14	57	342.0	259.80	263.20	3.40	10.7	3.0
NXXP0010	49234	96282	2340	14	57	342.0	294.14	294.44	0.30	7.2	0.3
NXXP0011	49234	96282	2341	17	53	246.0			NSI
NXXP0012	49234	96282	2340	12	48	400.0	228.35	229.00	0.65	733.0	0.7
NXXP0013	49233	96285	2340	11	46	260.0			NSI
NXXP0014	49233	96285	2340	8	47	288.0	224.50	225.27	0.77	109.0	0.6
NXXP0014	49233	96285	2340	8	47	288.0	230.40	231.93	1.53	444.7	1.1
NXXP0014	49233	96285	2340	8	47	288.0	233.50	233.87	0.37	22.3	0.3
NXXP0015	49233	96285	2340	6	37	400.3	283.70	284.50	0.80	42.8	0.4
NXXP0016	49233	96285	2340	14	45	270.1	251.90	253.90	2.00	5.7	0.5
VDXP0090	49958	97701	2425	290	-26	84.3	73.00	73.30	0.30	286.0	0.3
WLGC0198	50191	97495	2238	182	23	60.1	75.07	75.42	0.35	34.3	0.3
WLGC0198	50191	97495	2238	182	23	60.1	109.00	109.65	0.65	55.8	0.3
WLGC0198	50191	97495	2238	182	23	60.1	132.79	133.09	0.30	22.6	0.3
WLXP0087	50233	97620	2219	19	31	122.2	36.54	36.84	0.30	587.8	0.3
WLXP0092	50171	97685	2411	3	162	250.0	175.00	178.00	3.00	12.6	2.2
WLXP0092	50171	97685	2411	3	162	250.0	180.73	181.41	0.68	345.7	0.3
WLXP0092	50171	97685	2411	3	162	250.0	183.78	184.72	0.94	19.9	0.7
WLXP0093	50171	97685	2411	-4	170				NSI
WLXP0094	50171	97685	2411	0	176	240.0			NSI
WLXP0095	50171	97685	2410	-14	179	209.0	128.30	129.00	0.70	3.8	0.6
WLXP0096	50171	97685	2410	-4	190	220.2	172.80	173.65	0.85	8.1	0.7
WLXP0096	50171	97685	2410	-4	190	220.2	175.00	175.70	0.70	117.5	0.6
WLXP0097	50171	97685	2410	-11	193	234.0	113.17	113.48	0.31	16.2	0.3
WLXP0097	50171	97685	2411	-11	193	234.0			NSI
WLXP0099	50262	97560	2250	59	270	110.0	4.00	5.60	1.60	8.7	1.6
WLXP0100	50259	97571	2249	74	294	120.1	6.15	6.45	0.30	9.2	0.3
WLXP0101	50259	97571	2249	56	308	120.2	24.00	24.80	0.80	5.1	0.3
WLXP0103A	50267	97563	2250	73	39	120.1	36.30	36.60	0.30	95.7	0.3
WLXP0103A	50267	97563	2250	73	39	120.1	37.17	38.00	0.83	143.2	0.6
WLXP0104	50273	97559	2250	69	87	107.2	4.70	5.00	0.30	133.0	0.3
WLXP0104	50273	97559	2250	69	87	107.2	21.60	22.00	0.40	38.7	0.3
WLXP0105	50282	97543	2250	87	211	119.9	93.80	94.30	0.50	74.6	0.3
WLXP0105	50282	97543	2250	87	211	119.9	108.75	109.05	0.30	73.0	0.3
WLXP0106	50298	97525	2250	86	157	120.1	0.00	1.00	1.00	216.8	0.3
WLXP0106	50298	97525	2250	86	157	120.1	6.13	6.43	0.30	7.3	0.3
WLXP0106A	50298	97525	2250	86	157	120.1	0.00	0.48	0.48	35.6	0.3
WLXP0108	50289	97536	2250	54	232	119.8	19.00	19.30	0.30	14.7	0.3
WLXP0108	50289	97536	2250	54	232	119.8	69.60	69.90	0.30	543.0	0.3
WLXP0109	50222	97544	2250	72	184	119.5	0.00	0.30	0.30	35.0	0.3
WLXP0110	50233	97539	2249	77	89	120.0			0.00
WLXP0111	50172	97686	2411	-4	151	228.0	12.00	12.30	0.30	11.1	0.3
WLXP0111	50172	97686	2411	-4	151	228.0	181.00	181.30	0.30	16.2	0.3
WLXP0111	50172	97686	2411	-4	151	228.0	186.54	187.54	1.00	19.0	1.0
WLXP0111	50172	97686	2411	-4	151	228.0	187.54	188.20	0.66	36.5	0.7
WLXP0111	50172	97686	2411	-4	151	228.0	190.47	193.00	2.53	7.5	2.5
WLXP0112	50172	97686	2411	-4	146	236.6	13.34	14.76	1.42	42.1	0.5
WLXP0112	50172	97686	2411	-4	146	236.6	198.10	198.40	0.30	5.7	0.3
WLXP0113	50173	97687	2411	-4	138	300.1	0.00	1.20	1.20	6.7	0.5
WLXP0113	50173	97687	2411	-4	138	300.1	5.50	7.70	2.20	3.0	0.3
WLXP0115	50173	97686	2411	1	136	298.7	0.30	4.26	3.96	12.7	2.0

Page 7 of 16

ASX: NST

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

				JUNDEE SIGNIFICANT INTERSECTIONS	JUNDEE SIGNIFICANT INTERSECTIONS	JUNDEE SIGNIFICANT INTERSECTIONS	JUNDEE SIGNIFICANT INTERSECTIONS
Drill Hole #	Easting (Mine Grid)	Northing (Mine Grid)	Drill hole collar RL (Mine Grid)	Dip (degrees)	Azimuth (degrees, Mine Grid)	End of hole depth (m)	Downhole From (m)	Downhole To (m)	Downhole Intersection (m)	Au (gpt) uncut	Est True Thickness (m)
WLXP0115	50173	97686	2411	1	136	298.7	273.30	273.60	0.30	12.8	0.3
WLXP0117	50173	97687	2411	2	102	420.0	0.30	1.20	0.90	9.9	0.7
WLXP0117	50173	97687	2411	2	102	420.0	375.30	380.00	4.70	24.9	3.3
WLXP0118	50258	97556	2248	24	315	119.4	81.71	82.02	0.31	3.9	0.3
WLXP0119	50259	97557	2247	29	337	100.0	21.37	21.67	0.30	6.3	0.3
WLXP0120	50260	97557	2248	30	7	90.2	67.53	68.00	0.47	4.0	0.3
WLXP0121	50252	97621	2206	-11	212	59.7	49.99	50.06	0.07	21.4	0.3
WLXP0121	50252	97621	2206	-11	212	59.7	52.04	52.34	0.30	37.1	0.3
WLXP0122	50252	97621	2206	-19	160	69.0			NSI
WLXP0123	50252	97621	2205	-51	191				NSI
WLXP0124	50253	97623	2205	-57	246	87.0	69.41	69.76	0.35	475.0	0.3
WLXP0125	50202	97621	2204	-29	254	80.9			NSI
WLXP0126	50132	97704	2242	-3	110	218.0			NSI
WLXP0127	50132	97704	2241	-3	102	222.0	128.60	131.65	3.05	19.1	3.0
WLXP0129	50132	97704	2241	-18	115	171.0			NSI
WLXP0131	50132	97703	2240	-41	116	167.4			NSI
WLXP0132	50132	97704	2242	21	91	123.0			NSI
WLXP0133	50137	97725	2242	-17	67	149.6			NSI
WSGC3703	49716	96416	1925	-10	72	284.5	130.36	130.66	0.30	10.5	0.3
WSGC4648	49950	96881	1961	72	10	166.1			NSI
WSGC4649	49950	96881	1961	78	9	183.3	63.95	64.94	0.99	2.2	0.8
WSGC4651	49902	96880	1960	81	9	171.0	67.95	68.60	0.65	5.9	0.5
WSGC4654	49950	96881	1959	51	-55	188.5			NSI
WSGC4655	49938	96881	1959	48	-48	202.3			NSI
WSGC4656	49817	96566	1790	20	149	95.8			NSI
WSGC4657	49816	96566	1790	24	157	79.4	68.74	72.24	3.50	118.9	3.5
WSGC4657	49816	96566	1790	24	157	79.4	72.97	75.68	2.71	171.3	2.7
WSGC4658	49816	96566	1790	13	178	99.9	53.80	54.70	0.90	8.6	0.9
WSGC4659	49811	96568	1790	15	192	96.0	38.70	39.00	0.30	29.3	0.3
WSGC4659	49811	96568	1790	15	192	96.0	40.70	41.05	0.35	62.7	0.4
WSGC4659	49811	96568	1790	15	192	96.0	46.85	47.76	0.91	341.2	0.9
WSGC4660	49811	96568	1790	15	212	69.0			NSI
WSGC4661	49796	96545	1789	-15	213	218.7	32.57	33.28	0.71	1.6	0.5
WSGC4661	49796	96545	1789	-15	213	218.7	52.98	53.47	0.49	26.1	0.3
WSGC4662	49794	96554	1789	-12	226	122.0	42.55	43.85	1.30	7.8	1.0
WSGC4663	49794	96554	1789	-10	244	214.0			NSI
WSGC4665	49826	96578	1813	11	198	96.9	57.16	58.80	1.64	1.2	1.5
WSGC4665	49826	96578	1813	11	198	96.9			NSI
WSGC4666	49789	96763	1850	12	69	82.0			NSI
WSGC4667	49789	96765	1850	20	103	92.9	49.58	49.88	0.30	8.1	0.3
WSGC4667	49789	96765	1850	20	103	92.9			NSI
WSGC4668	49833	96758	1854	22	107	34.0	1.40	2.32	0.92	5.7	0.7
WSGC4668	49833	96758	1854	22	107	34.0			NSI
WSGC4669	49844	96737	1854	29	118	20.3			NSI
WSXP1587	49904	96405	1942	-22	292	183.1	77.00	77.30	0.30	19.4	0.3
WSXP1785	49739	96590	1788	-35	309	1550.0	495.30	495.60	0.30	1.7	0.3
WSXP1785	49739	96590	1788	-35	309	1500.0	802.00	1045.00	243.00
WSXP1785	49739	96590	1788	-35	309	1500.0	1045.00	1293.00	248.00
WSXP1785	49739	96590	1788	-35	309	1500.0	1293.00	1500.15	207.15
WSXP1785	49739	96590	1788	-35	309	1550.0			NSI
WSXP1786	49737	96588	1788	-54	309	1500.0	249.10	249.46	0.36	4.4	0.3
WSXP1786	49737	96588	1788	-54	309	1500.0	323.13	323.43	0.30	5.9	0.3
WSXP1786	49737	96588	1788	-54	309	1500.0	323.13	323.43	0.30	5.9	0.3
WSXP1786	49737	96588	1788	-54	309	1500.0	439.40	594.00	154.60
WSXP1797	49732	96548	1789	-25	302	381.0	332.60	333.50	0.90	17.5	0.4
WSXP1797	49732	96548	1789	-25	302	381.0			NSI
WSXP1798									NSI
WSXP1799	49744	96541	1789	-30	331	300.0			NSI
WSXP1800	49791	96515	1790	-6	240	133.9	73.26	73.65	0.39	8.2	0.3
WSXP1801	49791	96515	1790	-12	226	137.7	125.62	127.40	1.78	3.5	1.6
WSXP1802	49791	96515	1790	-14	214	154.2			NSI
WSXP1803	49791	96515	1790	-15	205	169.0	66.95	67.25	0.30	160.0	0.3
WSXP1803	49791	96515	1790	-15	205	169.0	116.49	116.98	0.49	11.1
WSXP1804	49791	96515	1790						NSI
WSXP1805	49791	96515	1790	-19	232	135.0	69.63	69.96	0.33	3.8	0.3
WSXP1806	49791	96515	1790	-23	213	149.0	118.16	118.58	0.42	9.0	0.4
WSXP1807A	49791	96515	1790	-23	205	161.7	64.05	64.35	0.30	18.5	0.3
WSXP1807A	49791	96515	1790	-23	205	161.7	113.30	113.74	0.44	62.3	0.3
WSXP1808	49791	96515	1790	-15	198	134.8	114.90	115.20	0.30	161.0	0.3

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JORC Code, 2012 Edition – Table 1 Report: Jundee – Resource and Reserves as at 31 December 2014 and Post Resource Drilling Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.	This deposit is sampled by diamond drilling (DD) and Reverse Circulation (RC) drilling completed by previous operators. DD - Sampled sections are generally NQ2 or BQ. Core sample intervals are defined by the geologist to honour geological boundaries ranging from 0.3 to 1.2m in length. RC - Rig-mounted static cone splitter used, with sample falling though a riffle splitter or inverted cone splitter, splitting the sample in 87.5/12.5 ratio. 12.5% Off-split retained. 87.5% split sampled using ‘pipe’ or ‘spear’ sampling tool. Generally sampled as 4m composites. 1m composites (12% split) was sent for further analysis if any 4m composite values returned a gold value > 0.1ppm or intervals containing alteration/mineralisation failed to return a significant 4m composite assay result. RC and DD sampling by previous operators are to industry standard at that time often using 1m samples after initial 4m composites. It is unknown what grade threshold triggers the 1m re-samples. The greater majority (>90%) of samples used for Reserve and Resource estimates are DD.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	Core is aligned and measured by tape, comparing back to down hole core blocks consistent with industry practice. RC and surface core drilling completed by previous operators to industry standard at that time.
	Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	Diamond drilling completed to industry standard using varying sample lengths (0.3 to 1.2m) based on geological intervals, which are then crushed and pulverised to produce a ~200g pulp sub sample to use in the assay process. Diamond core samples are fire assayed (30g charge). Visible gold is occasionally encountered in core. RC sampling to industry standard at the time of drilling.
Drilling techniques	Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).	RC – Reverse circulation drilling was carried out using a face sampling hammer and a 130mm diameter bit. Previous operators surface diamond drilling carried out by using both HQ2 or HQ3 or PQ2 (triple tube) and NQ2 (standard tube) techniques. Sampled sections are generally NQ2. Core is routinely orientated using the ORI-shot device.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	RC – Approximate recoveries are sometimes recorded as percentage ranges based on a visual and weight estimate of the sample. DD – Recoveries are recorded as a percentage calculated from measured core verses drilled intervals.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	Diamond drilling practice results in high core recovery due to the competent nature of the ground. RC and diamond drilling by previous operators are to industry standard at that time.
	Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	There is no known relationship between sample recovery and grade, diamond drill sample recovery is very high.
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	Core and chip samples have been logged by qualified Geologist to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Percussion holes logging were carried out on a metre by metre basis and at the time of drilling. Surface core and RC logging completed by previous operators assumed to be to industry standard.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.	Logging is Qualitative and Quantitative and all core is photographed wet (some older core is pre-digital, photos not all reviewed). Visual estimates of sulphide, quartz and alteration as percentages.
	The total length and percentage of the relevant intersections logged.	100% of the drill core is logged. 100% of RC drilling is logged.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	DD –Resource definition Drilling uses NQ2: Core is half cut with an Almonté diamond core saw. Sample intervals are defined by a qualified geologist to honour geological boundaries. The left half is archived. Grade Control Drilling uses BQ: Whole core sampling is undertaken. Sample intervals are defined by a qualified geologist to honour geological boundaries. All mineralised zones are sampled, plus associated visibly barren material in contact with mineralised zones . Core is sampled on the width of the geological/mineralised structure in recognised ore zones. The minimum sample length is 0.3m while the maximum is 1.2m. Total weight of each sample generally does not exceed 5kg. Following drying at 100°C to constant mass, all samples are totally pulverised in LM5’s to nominally 90% passing a 75µm screen. In 2012, Francois-Bongarcon (Agoratek International) conducted a heterogeneity studies, audit of site laboratory, and audit of plant samplers confirming that the sampling protocol currently in use are appropriate to the mineralisation encountered and should provide representative results. For RC samples, all drying at 100°C to constant mass, all samples below approximately 4kg are totally pulverised in LM5’s to nominally 85% passing a 75µm screen. The very few samples generated above 4kg are crushed to <6mm and riffle split first prior to pulverisation. For RC samples, No formal heterogeneity study has been carried out or nomographed. An informal analysis suggests that the sampling protocol currently in use are appropriate to the mineralisation encountered and should provide representative results. For pre-Northern Star Resources (NSR) and current operator’s samples, best practice is assumed.
	If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.	RC – Cyclone mounted riffle splitter or inverted cone splitter. Pre NSR RC sub sampling assumed to be at industry standard at that time.
	For all sample types, the nature, quality and appropriateness of the sample	Following drying at 100°C to constant mass, all samples below approximately 4kg are totally pulverised in LM5’s to nominally 90% passing a 75µm screen. The very few samples

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Criteria	JORC Code explanation	Commentary
	preparation technique.	generated above 4kg are crushed to <6mm and riffle split first prior to pulverisation. In 2012, Francois-Bongarcon (Agoratek International) conducted a heterogeneity studies, audit of site laboratory, and audit of plant samplers. Confirmed that the sampling protocol currently in use are appropriate to the mineralisation encountered and should provide representative results. For pre- NSR samples, best practice is assumed.
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	Repeat analysis of pulp samples (for all sample types – diamond, RC, rock) occurs at an incidence of 1 in 20 samples. RC drilling by previous operators to industry standard at that time.
	Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate / second-half sampling.	Field duplicates, i.e. other half of cut core, have not been routinely assayed. RC drilling by previous operators assumed to be to industry standard at that time.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	Sample sizes are considered appropriate.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.	For all drill core samples, gold concentration is determined by fire assay using the lead collection technique with a 30 gram sample charge weight. An AAS finish is used to be considered as total gold. Various multi-element suites are analysed using a four acid digest with an AT/OES finish. RC drilling by previous operators to industry standard at the time and not reviewed for this resource.
	For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	Not applicable to this report.
	Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	The QAQC protocols used include the following for all drill samples:  The field QAQC protocols used include the following for all drill samples: - Commercially prepared certified reference materials (CRM) are inserted at an incidence of 1 in 30 samples. The CRM used is not identifiable to the laboratory, - QAQC data is assessed on import to the database and reported monthly, quarterly and yearly.  The laboratory QAQC protocols used include the following for all drill samples: - Repeat analysis of pulp samples occurs at an incidence of 1 in 20 samples, - Screen tests (percentage of pulverised sample passing a 75µm mesh) are undertaken on 1 in 40 samples, - The laboratories’ own standards are loaded into the database, - The laboratory reports its own QAQC data on a monthly basis. - In addition to the above, about 3% of samples are sent to an umpire laboratory. Samples for check -assay are selected automatically from holes, based on the following criteria: grade above 1g/t or logged as a mineralised zone or is followed by feldspar flush or blank.  Failed standards are generally followed up by re-assaying a second 50g pulp sample of all samples in the fire above 0.1ppm by the same method at the primary laboratory. Both the accuracy component (CRMs and umpire checks) and the precision component (duplicates and repeats) of the QAQC protocols are thought to demonstrate acceptable levels of accuracy and precision. QAQC protocols for Surface RC and diamond drilling by some previous operators is assumed to be industry standard.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	Significant intersections not verified.
	The use of twinned holes.	There are no purpose drilled twinned holes.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	Primary Data imported into SQL database using semi-automated or automated data entry. Hard copies of NSR and previous operator’s core assays and surveys are stored at site. Visual checks are part of daily use of the data in Vulcan. Data from previous operators thoroughly vetted and imported to SQL database.
	Discuss any adjustment to assay data.	The first gold assay is almost always utilised for any resource estimation. Exceptions occur when evidence from re-assaying and/or check-assaying dictates. A systematic procedure utilizing several re-assays and/or check assays is in place to determine when the final assay is changed from the first gold assay. Some minor adjustments have been made to overlapping data.
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down- hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	Collar positions are recorded using conventional survey methods based on Leica TS15 3” total stations and Trimble R10 GNSS instruments. The location of each station is referenced to statewide network of Standard Survey Marks (SSM) established and coordinated by the Department of Land Administration (W.A Government). Where regional drill hole positions are distant from the SSM network the world wide Global Navigational Satellite System (GNSS) network is used. Positional checks are carried out using a combination of existing known positions (usually based on prominent landmarks) and grid referenced information such as ortholinear rectified photogrammetry based on the Australian Map Grid 1984 (AMG84_51). Collar coordinates are recorded in AMG84 or Local Jundee Grid (JUNL2) dependant on the location and orientation of ore-bodies. Cross checks were made on the survey control points and data in June 2005. Collar information is stored in both local coordinates and AMG84 coordinate in the drilling database. In-mine drill-hole collars are normally accurate to 10 cm. Multi shot cameras and gyro units were used for down-hole survey. Previous drilling have been set-out and picked up in both national and local grids using a combination of GPS and Survey instruments, and are assumed to be to industry standards.
	Specification of the grid system used.	Collar coordinates are recorded in AMG84 Zone 51 (AMG GN) and Local Jundee Grid (JUNL2) dependant on the location and orientation of ore-bodies. The difference between Jundee mine grid (GN) and magnetic north (MN) as at 31 December 2011 is 39º 35’ 00” and the difference between magnetic north (MN) and true north (TN) is 1º 34’ 30”. The difference between true north (TN) and AMG84 Zone 51 (AMG GN) is 1º 02’ 47”. The difference between true north and GDA is zero.

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Criteria	JORC Code explanation	Commentary
	Quality and adequacy of topographic control.	Topographic control is from Digital Elevation Contours (DEM) 2010, 1m contour data and site surveyed pit pickups.
Data spacing and distribution	Data spacing for reporting of Exploration Results.	All Reserves are based on a maximum drill hole spacing of 40m x 40m and all Resources are based on a maximum of 80m x 80m.
	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.	Reserves are generally based on 20m x 20m drilling up to a maximum of 40m x 40m. Resources are generally based on 40m x 40m drilling up to a maximum of 80m x 80m. The data spacing and distribution is sufficient to establish geological and/or grade continuity appropriate for the Mineral Resource and classifications to be applied.
	Whether sample compositing has been applied.	Core is sampled to geology; sample compositing is not applied until the estimation stage. RC samples initially taken as 4m composites to be replaced by 1 m samples if any 4m composite values returned a gold value > 0.1ppm or intervals containing alteration/mineralisation failed to return a significant 4m composite assay result. No RC samples greater than 1m were used in estimation.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	The orientation of sampling is generally perpendicular to the main mineralisation trends. The orientation achieves unbiased sampling of all possible mineralisation and the extent to which this is known.
	If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	The drill orientation to mineralised structures biases the number of samples per drill hole. It is not thought to make a material difference in the resource estimation. As the opportunity arises, better angled holes are infill drilled.
Sample security	The measures taken to ensure sample security.	All samples are selected, cut and bagged in tied numbered calico bags, grouped in larger tied plastic bags, and placed in large sample cages with a sample submission sheet. The cages are either sent to the site laboratory or are transported via freight truck to Perth, with consignment note and receipted by external and independent laboratory. All sample submissions are documented and all assays are returned via email. Sample pulp splits from the site lab are stored at the Jundee mine site and those from the Newburn Lab in Perth are stored at the Newburn Lab. Pre NSR operator sample security assumed to be similar and adequate.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	In 2006, Maxwell conducted an audit of all Jundee data. In 2012, Francois-Bongarcon (Agoratek International) conducted a heterogeneity studies, audit of site laboratory, and audit of plant samplers. Both audits found the sampling techniques and data to be adequate. All recent NSR sample data has been extensively QAQC reviewed both internally and externally. Pre NSR data audits found to be minimal in regards to QAQC though in line with industry standards of the time.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.	The Jundee project consists of tenements comprising 62 mining leases and 1 general purpose lease, covering a total area of approximately 57,422.2 Ha. All are registered in the name of Northern Star Resources Limited. The project also includes 23 miscellaneous licences, 3 groundwater licences, a pipeline licence, and the Jundee Pastoral Lease. These cover the bore fields, roads, airstrip, and gas pipeline. There are numerous access agreements in place including access rights over part of Mark Creasy’s mining lease 53/193 which lies contiguous to and beneath the general purpose lease on which the Jundee gold mine processing plant is located. There are no heritage issues with the current operation. The majority of the Jundee leases are granted Mining Leases prior to 1994 (pre Mabo) and as such Native Title negotiations are not required. During 2004, two agreements where struck between Ngaanyatjarra Council (now Central Desert native Title Services (CDNTS)) and NYO, these agreements being the Wiluna Land Access Agreement 2004 and the Wiluna Claim Heritage Agreement 2004.
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	All leases and licences to operate are granted and in the order for between 3 and 20 years.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Data relevant to this resource was predominantly Northern Star, who have operated the mine since July 1, 2014. The Jundee/Nimary Deposits were discovered in the late 1980s/early 1990s after LAG and soil sampling by Mark Creasy (Jundee) and Hunter Resources (Nimary) identified large surface gold anomalies. The deposits were drilled out over the following years by Eagle Mining (which took over Hunter Resources), and Great Central Mines (which formed a joint venture with Creasy and later purchased his share). Open pit operations commenced in mid-1995, with the first gold poured in December 1995. Great Central Mines assumed full control of the field with its successful takeover of Eagle Mining in mid- 1997. Great Central Mines was later taken over by Normandy in mid-2000, which in turn was taken over by Newmont in early-2002. All previous work is accepted and assumed to industry standard at that time.
Geology	Deposit type, geological setting and style of mineralisation.	Jundee is an Archean lode-gold mineralised deposit that is part of the Northern Yandal Greenstone belt. Gold mineralisation is controlled by a brittle fracture-system, is commonly fracture-centred, and is predominantly hosted in dolerite and basalt. Mineralisation can be disseminated or vein style host.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: `o` easting and northing of the drill hole collar `o` elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar `o` dip and azimuth of the hole `o` down hole length and interception depth `o` hole length.	Too many holes to practically summarise all drill information used (see diagram).

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Criteria	JORC Code explanation	Commentary
	If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	Exclusion of the drill information will not detract from the understanding of the report. Holes are close spaced and tightly constrained to an active mine area.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.	All reported assay results have been length weighted to provide an intersection width. A maximum of 2m of barren material between mineralised samples has been permitted in the calculation of these widths. No assay results have been top-cut for the purpose of this report. A lower cut-off of 1g/t has been used to identify significant results, although lower results are included where a known ore zone has been intercepted, and the entire intercept is low grade.
	Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.	All reported assay results have been length weighted. Aggregations of reported intersections take into account geological boundaries (e.g. Laminated quartz veining) and continuity of mineralisation.
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	No metal equivalents are reported.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results.	True widths have been calculated for intersections of the known ore zones, based on existing knowledge of the nature of these structures. Both the downhole width and true width have been clearly specified when used.
	If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.	Due to complex mineralisation geometry and varying intercept angles the true thickness is manually estimated on a hole by hole basis.
	If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	Reporting of results includes the downhole and true width of the mineralised section.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Plan view and long section view of Jundee showing drill collars is attached.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Both high and low grades have been reported accurately, clearly identified with the drillhole attributes and ‘From’ and ‘To’ depths.
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	No other exploration data is being reported.
Further work	The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).	Not applicable.
	Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Part of this ASX release.

Section 3 Estimation and Reporting of Mineral Resources

(Criteria listed in section 1, and where relevant in section 2, also apply to this section.)

Criteria	JORC Code explanation	Commentary
Database integrity	Measures taken to ensure that data has not been corrupted by, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimation purposes.	NSR (Northern star Resources) sampling and logging data is digitally entered into a tablet then transferred to an SQL based database. There are checks in place to avoid duplicate holes and sample numbers. Where possible, raw data is loaded directly to the database from lab, logging and survey derived files. Pre NSR data considered correct.
	Data validation procedures used.	Pre NSR data has been partially validated by internal database administrators.
Site visits	Comment on any site visits undertaken by the Competent Person and the outcome of those visits.	The competent person for this resource report has worked on site for extensive periods between 2005 and 2013.
	If no site visits have been undertaken indicate why this is the case.	Site visits have been undertaken.
Geological interpretation	Confidence in (or conversely, the uncertainty of) the geological interpretation of the mineral deposit.	The interpretation of the deposit was carried out using a systematic approach to ensure continuity of the geology and estimated mineral resource using Vulcan software. The confidence in the geological interpretation is relatively high, though a certain degree of uncertainly always remains due to the structurally complex and nuggetty nature of the orebody on a local scale. The confidence is supported by all the information and 18 years of open pit and underground operations.
	Nature of the data used and of any assumptions made.	All available geological data was used in the interpretation including mapping, drilling, oxidation surfaces, and underground style high grade ore zone interpretations.
	The effect, if any, of alternative interpretations on Mineral Resource estimation.	No alternative interpretations have been completed or put forward.
	The use of geology in guiding and controlling Mineral Resource estimation.	Drill core logging, pit mapping, and underground mapping used to create 3D constrained wireframes.
	The factors affecting continuity both of grade and geology.	Continuity of the grade varies significantly, though the lodes with the greatest continuity are generally sub-parallel to the dolerite and basalt packages in which they are hosted. Splays or link lodes coming off of this main trend tend to have a shorter continuity.
Dimensions	The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource.	Mineralised zones are narrow, with true width ranging from 0.3 to 1m, but can be up to 5m. They are extensive along strike and down dip, up to 1000m and 500m, respectively, but are often highly discontinuous, and generally have a tabular geometry. Depth = surface to ~1770mRl (~780m below surface).
Estimation and modelling techniques.	The nature and appropriateness of the estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method was chosen include a description of computer software and parameters used.	Domains are set by grouping lodes as dictated by their structural setting, geological mineralisation and statistical characteristics. The raw data is subdivided into domains based on geological controls and further analysed for correlation and similarity using statistics. The purpose of this analysis is to determine further domaining of the data for variographic purposes (by combining groups of lodes). Seam compositing (from hanging wall to footwall) of drill-hole samples is almost

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		exclusively used. A very small proportion of UG lodes, which exhibit a wider disseminated style of mineralisation, use a nominal 1 meter downhole composite. Detailed exploratory data analysis is carried out on each deposit, using Snowden Supervisor software. The majority of the Resource is estimated using ordinary kriging (OK) and multiple indicator kriging (MIK). A minor proportion of the Resource is estimated using inverse distance squared (ID2). The estimation type used is dictated by the dataset size of the domain. Vulcan software was used for data compilation, domain wireframing, calculating and coding composite values, estimating and reporting. Maximum distance of extrapolation from data points was statistically determined and varies by domain. Block model volumes were compared to wireframe volumes to validate sub-blocking. Where OK or ID2 estimates were used, treatment of extreme high grades were dealt with by using a cap grade strategy.
	The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data.	Reconciled historical production from underground operations is comparable with new estimate.
	The assumptions made regarding recovery of by-products.	No assumptions are made and only gold is defined for estimation.
	Estimation of deleterious elements or other non-grade variables of economic significance (eg sulphur for acid mine drainage characterisation).	No deleterious elements estimated in the model.
	In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed.	All underground models use a seam modelling methodology where the parent block size is 2.5m in strike, 1m in RL, and a variable width constrained by the width of the vein in the across strike direction. Sub-block sizes are 2.5m in strike, 1m in RL, and 0.2m across strike direction The use of seam models is more amenable for narrow vein mineralisation and gives greater flexibility in manipulating models for mining dilution. Reserves are generally based on 20m x 20m drilling up to a maximum of 40m x 40m. Resources are generally based on 40m x 40m drilling up to a maximum of 80m x 80m.
	Any assumptions behind modelling of selective mining units.	A 2.5m minimum mining width for underground environment is assumed.
	Any assumptions about correlation between variables.	There is no correlation between variables.
	Description of how the geological interpretation was used to control the resource estimates.	“Mineralised” wireframes are created within the geological shapes based on drill core logs, mapping and grade. Low grades can form part of an ore wireframe. Estimations are constrained by the interpretations.
	Discussion of basis for using or not using grade cutting or capping.	Top Cuts were determined by statistical techniques and vary by domain.
	The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available.	The Mineral Resource estimate was validated using processes that are based on a combination of visual, graphical and reconciliation style validations summarised as: - Visual validation of the lode and lithology coding of both the composite data and the block model. - Comparison of lode wireframe volumes to block model volumes - Visual validation of Mineral Resource estimate against composite data in plan, section, and in 3D. - Sensitivity to top-cut values: a variety of top-cuts are estimated and compared to themselves and to the un-cut nearest neighbour estimate at a variety of cut-offs. - Comparison of nearest neighbour, inverse distance squared, and ordinary kriged estimates to the final estimate (generally OK or MIK). These comparisons are conducted through visual validation and trend analysis along Northing, Easting, and RL slices. - Comparison with previous Mineral Resource estimates. Global, level and lode tonnages and grades, at various elemental cut-offs were compared, and, given the changes in support data, were considered to be consistent; - Comparison of Mineral Resource estimate versus grade control models. Local underground GC models are produced using, in addition to the diamond drillholes used in the Mineral Resource estimate, face chip and drive mapping data. These comparisons are done on a level basis at various cut-offs. - Statistical comparison of composites versus all estimates in block model: trend analysis plots for each domain are produced by Northing / Easting / RL. The Mineral Resource estimate generally shows a reasonably reflection of the composites where there are high numbers of composites used in the estimate. When the numbers of samples reduce the accuracy of the estimation suffers and a more significant deviation is noted between the Mineral Resource estimate and associated composite data. These deviations are taken into account when assigning a resource classification.
Moisture	Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content.	Tonnages are estimated on a dry basis. Moisture content within the ore is expected to be low.
Cut-off parameters	The basis of the adopted cut-off grade(s) or quality parameters applied.	Jundee undertook preliminary design analysis to assess reasonable prospects for economic extraction for declaration of Mineral Resources, using actual costs from the mining operations. These costs are based on a twelve month average of actual site costs.
Mining factors or assumptions	Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, external) mining dilution. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential mining methods, but the assumptions made regarding mining methods and parameters when estimating Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the mining assumptions made.	Jundee undertook preliminary design analysis to assess reasonable prospects for economic extraction for declaration of Mineral Resources, using actual costs from the mining operations and minimum mining widths of 2.5 m. These costs are a twelve month average of actual site costs.
Metallurgical factors or assumptions	The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions regarding metallurgical treatment processes and parameters made when reporting Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the metallurgical assumptions made.	Assumed that material will be trucked and processed in the Jundee Mill. Recovery factors vary for the various mining areas and are based on lab testing and on-going operational experience. No Metallurgical assumptions have been built or applied to the resource model.
Environmental factors or assumptions	Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider the potential environmental impacts of the mining and processing operation. While at this stage the determination of potential environmental impacts, particularly for a greenfields project, may not always be well advanced,	Jundee currently possesses all necessary government permits, licenses and statutory approvals in order to be compliant with all legal and regulatory requirements.

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	the status of early consideration of these potential environmental impacts should be reported. Where these aspects have not been considered this should be reported with an explanation of the environmental assumptions made.
Bulk density	Whether assumed or determined. If assumed, the basis for the assumptions. If determined, the method used, whether wet or dry, the frequency of the measurements, the nature, size and representativeness of the samples.	Bulk density values used were based on an updated study of the average lithological densities across the mine site completed in 2013. This study consisted of a detailed statistical analysis of 72,634 measurements that have been recorded from all underground deposits. These values are also in agreement with over 10 years of production data.
	The bulk density for bulk material must have been measured by methods that adequately account for void spaces (vugs, porosity, etc.), moisture and differences between rock and alteration zones within the deposit.	Bulk density measurements are taken daily using the water displacement technique. One bulk density measurement is taken for each lithology in every hole every day. An attempt is made to collect a bulk density measurement from every mineralised zone and each lithology represented in drill hole core. A total of 72,634 bulk density measurements have been taken.
	Discuss assumptions for bulk density estimates used in the evaluation process of the different materials.	Individual bulk densities are applied in accordance with specific lithologies, mineralisation, and weathering states.
Classification	The basis for the classification of the Mineral Resources into varying confidence categories.	Measured resources are defined from grade control models based on geological mapping and surveyed ore outlines in development drives, diamond drillholes and face samples which are imported into Vulcan and modelled in 3D. Indicated resources are defined by drilling which is generally 20m x 20m and may range up to 40m x 40m maximum. Lodes classified as Indicated are supported by a minimum of 5 face chip or Diamond drill holes. Inferred resources are defined on a nominal 40m x 40m drilling pattern and may range up to 80m x 80m. Resources based on less than 40m x 40m spaced drilling, but which have a low level of confidence in the geological interpretation may also be classified as inferred.
	Whether appropriate account has been taken of all relevant factors (ie. relative confidence in tonnage/grade estimations, reliability of input data, confidence in continuity of geology and metal values, quality, quantity and distribution of the data).	Input and geological data is assumed accurate backed up by previous successful mining history at the site on this mineralisation.
	Whether the result appropriately reflects the Competent Person’s view of the deposit.	This mineral resource estimate is considered representative with comments noted in the discussion below.
Audits or reviews	The results of any audits or reviews of Mineral Resource estimates.	The Mineral resource estimates, methodology and systems have been subject to one external review through NSR and four internal audits by previous operators and senior technical personnel over the last 10 years.
Discussion of relative accuracy/ confidence	Where appropriate a statement of the relative accuracy and confidence level in the Mineral Resource estimate using an approach or procedure deemed appropriate by the Competent Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of the estimate.	This mineral resource estimate is considered as robust and representative of the Jundee mineralisation with local estimates considered variable in nature. The application of geostatistical methods has supported to increase the confidence of the model and quantify the relative accuracy of the resource on a global scale and against actual production reconciliation.
	The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used.	This resource report relates to the Jundee deposit and is likely to have local variability. The global assessment is a better reflection of the average tonnes and grade estimate, further supported and reconciled against actual mine production.
	These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.	Comparison with previous Mineral Resource estimates and production data was undertaken. Global, level and lode tonnages and grades, at various elemental cut-offs were compared, and, given the changes in support data, were considered to be consistent.

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Plan View – Jundee drillhole collars

Long Section – Jundee mine area drillhole traces and mineralised domains.

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Section 4 Estimation and Reporting of Ore Reserves

(Criteria listed in section 1, and where relevant in sections 2 and 3, also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral Resource estimate for conversion to Ore Reserves	Description of the Mineral Resource estimate used as a basis for the conversion to an Ore Reserve.	Reported ore reserve based on numerous Resource and Grade Control models.
	Clear statement as to whether the Mineral Resources are reported additional to, or inclusive of, the Ore Reserves.	Mineral Resources are reported inclusive of the Ore Reserves.
Site visits	Comment on any site visits undertaken by the Competent Person and the outcome of those visits.	Site Visits are common along with actual work being based at Jundee site.
	If no site visits have been undertaken indicate why this is the case.	Familiarity with the minesite and historical performance was considered sufficient information to provide the Reserve Estimate.
Study status	The type and level of study undertaken to enable Mineral Resources to be converted to Ore Reserves.	Detailed mine design and costing based upon ongoing mine performance.
	The Code requires that a study to at least Pre-Feasibility Study level has been undertaken to convert Mineral Resources to Ore Reserves. Such studies will have been carried out and will have determined a mine plan that is technically achievable and economically viable, and that material Modifying Factors have been considered.	This is a current and operating mine with no material Modifying Factors considered.
Cut-off parameters	The basis of the cut-off grade(s) or quality parameters applied.	All stopes were evaluated on an incremental basis, with a fully costed break even cut-off grade of approximately 3.5 gpt.
Mining factors or assumptions	The method and assumptions used as reported in the Pre-Feasibility or Feasibility Study to convert the Mineral Resource to an Ore Reserve (i.e. either by application of appropriate factors by optimisation or by preliminary or detailed design).	Autostope design tool was used to create stope shapes, with a minimum stope mining width of 2.5m.
	The choice, nature and appropriateness of the selected mining method(s) and other mining parameters including associated design issues such as pre-strip, access, etc.	Deemed appropriate due to ongoing successful implementation of design assumptions on site.
	The assumptions made regarding geotechnical parameters (eg pit slopes, stope sizes, etc.), grade control and pre-production drilling.	2.5m minimum mining width (stopes) and 85% stope mining recovery to account for internal pillars, in line with historical performance.
	The major assumptions made and Mineral Resource model used for pit and stope optimisation (if appropriate).	2.5m minimum mining width for stopes.
	The mining dilution factors used.	5% grade dilution factor was utilised for stopes in order to account for dilution/ ore loss resulting. A 15% tonne dilution factor was used for development.
	The mining recovery factors used.	85% where stope pillars have not been incorporated into the design and 95% for detailed design where pillars have been taken into account.
	Any minimum mining widths used.	The minimum mining width for stopes is 2.5m.
	The manner in which Inferred Mineral Resources are utilised in mining studies and the sensitivity of the outcome to their inclusion.	Inferred material is included within the mine plan, however material is only classified as Reserve when the Reserve material is able to cover all fixed and variable costs associated with the mining of that material (including capital).
	The infrastructure requirements of the selected mining methods.	Typical underground capital development, in addition to camp, workshop, office, water bores, ROM pad and mill which are already in place.
Metallurgical factors or assumptions	The metallurgical process proposed and the appropriateness of that process to the style of mineralisation.	Material will be trucked and processed in the existing Jundee Mill which is a standard CIP plant with gravity circuit, operating since 1995.
	Whether the metallurgical process is well-tested technology or novel in nature.	Well tested technology.
	The nature, amount and representativeness of metallurgical test work undertaken, the nature of the metallurgical domaining applied and the corresponding metallurgical recovery factors applied.	Recovery factors vary for the various mining areas and are based on lab testing and on- going operational experience. Recoveries can range from 87% up to 95% with an average 92.5% on blended feed. Historical processing further supports this.
	Any assumptions or allowances made for deleterious elements.	No allowances made and considered immaterial to the mineralisation reported.
	The existence of any bulk sample or pilot scale test work and the degree to which such samples are considered representative of the orebody as a whole.	All mineralisation systems have significant bulk drillcore testwork undertaken prior to mining and current resource/reserves have a history of operational experience .
	For minerals that are defined by a specification, has the ore reserve estimation been based on the appropriate mineralogy to meet the specifications?	Yes.
Environmental	The status of studies of potential environmental impacts of the mining and processing operation. Details of waste rock characterisation and the consideration of potential sites, status of design options considered and, where applicable, the status of approvals for process residue storage and waste dumps should be reported.	Jundee currently possesses all necessary government permits, licenses and statutory approvals in order to be compliant with all legal and regulatory requirements.
Infrastructure	The existence of appropriate infrastructure: availability of land for plant development, power, water, transportation (particularly for bulk commodities), labour, accommodation; or the ease with which the infrastructure can be provided, or accessed.	As the Jundee mine has been operating for a number of years, all required surface infrastructure is already in place to facilitate mining and processing.
Costs	The derivation of, or assumptions made, regarding projected capital costs in the study.	All capital costs have been estimated based upon projected requirements and experience of costs incurred through similar activities in the past.
	The methodology used to estimate operating costs.	The operating cost estimates are based upon historical costs incurred over previous periods.
	Allowances made for the content of deleterious elements.	No, none expected.
	The derivation of assumptions made of metal or commodity price(s), for the principal minerals and co- products.	Revenue was based on a gold price A$1,400.
	The source of exchange rates used in the study.	Based upon an internal technical and economic analysis.
	Derivation of transportation charges.	Mining and Haulage costs are based on historical costs incurred in the previous cost periods.
	The basis for forecasting or source of treatment and refining charges, penalties for failure to meet specification, etc.	Processing costs are based on historical processing data from the plant at Jundee.
	The allowances made for royalties payable, both Government and private.	WA State Government royalty of 2.5%

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Criteria	JORC Code explanation	Commentary
Revenue factors	The derivation of, or assumptions made regarding revenue factors including head grade, metal or commodity price(s) exchange rates, transportation and treatment charges, penalties, net smelter returns, etc.	N/A
	The derivation of assumptions made of metal or commodity price(s), for the principal metals, minerals and co-products.	Revenue was based on a gold price of A$1,400 (which is seen as representative of current economic forecasts for the period).
Market assessment	The demand, supply and stock situation for the particular commodity, consumption trends and factors likely to affect supply and demand into the future.	All product is sold direct at market prices.
	A customer and competitor analysis along with the identification of likely market windows for the product.	N/A
	Price and volume forecasts and the basis for these forecasts.	N/A
	For industrial minerals the customer specification, testing and acceptance requirements prior to a supply contract.	N/A
Economic	The inputs to the economic analysis to produce the net present value (NPV) in the study, the source and confidence of these economic inputs including estimated inflation, discount rate, etc.	All costs assumptions are made based on historical performance from the plant and quotes from experienced mining contractor. The economic forecast is seen as representative of the current market condition, with an assumed discount rate of 7%.
	NPV ranges and sensitivity to variations in the significant assumptions and inputs.	The revised business plan, based on the updated reserves is still in progress, regarding NPV ranges. Jundee reserves are relatively insensitive to gold price fluctuations due to the higher grade nature of the mineralised systems.
Social	The status of agreements with key stakeholders and matters leading to social licence to operate.	Agreements are in place and are current with all key stakeholders including traditional land owner claimants.
Other	To the extent relevant, the impact of the following on the project and/or on the estimation and classification of the Ore Reserves:
	Any identified material naturally occurring risks.	None.
	The status of material legal agreements and marketing arrangements.	None
	The status of governmental agreements and approvals critical to the viability of the project, such as mineral tenement status, and government and statutory approvals. There must be reasonable grounds to expect that all necessary Government approvals will be received within the timeframes anticipated in the Pre-Feasibility or Feasibility study. Highlight and discuss the materiality of any unresolved matter that is dependent on a third party on which extraction of the reserve is contingent.	A current operating operation with all government and third party approvals in place for the stated reserves.
Classification	The basis for the classification of the Ore Reserves into varying confidence categories.	All Ore Reserves include Proved (if any) and Probable classifications.
	Whether the result appropriately reflects the Competent Person’s view of the deposit.	The results appropriately reflect the Competent Persons view of the deposit.
	The proportion of Probable Ore Reserves that have been derived from Measured Mineral Resources (if any).	Negligible.
Audits or reviews	The results of any audits or reviews of Ore Reserve estimates.	The Ore Reserve has been prepared and peer reviewed internally within Northern Star Resources.
Discussion of relative accuracy/ confidence	Where appropriate a statement of the relative accuracy and confidence level in the Ore Reserve estimate using an approach or procedure deemed appropriate by the Competent Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the reserve within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors which could affect the relative accuracy and confidence of the estimate.	Confidence in the reserve is high based on current industry practices and actual operating costs.
	The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used.	The reserves are best reflected as Global estimates.
	Accuracy and confidence discussions should extend to specific discussions of any applied Modifying Factors that may have a material impact on Ore Reserve viability, or for which there are remaining areas of uncertainty at the current study stage.	Not applicable as the mine is currently in operation with appropriate licences in place.
	It is recognised that this may not be possible or appropriate in all circumstances. These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.	Reconciliation results from past mining at Jundee has been considered and factored into the reserve assumptions where appropriate.

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AI assistant

NORTHERN STAR RESOURCES LTD Capital/Financing Update 2015

65447_rns_2015-02-15_d3711d1f-3104-44fc-8d06-39c62ef6a87c.pdf

NORTHERN STAR GROWS JUNDEE MINE LIFE WITH ANOTHER ~300,000oz IN RESOURCES and 32,000oz in RESERVES Plus further increases to come on back of lodes yet to be modelled and fresh strong drilling results

KEY POINTS

ASX ANNOUNCEMENT 16 February 2015

Australian Securities Exchange Code: NST

Board of Directors

Issued Capital

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

BILL BEAMENT Managing Director Northern Star Resources Limited

Competent Persons Statements

Forward Looking Statements

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

Competent Person

Competent Person

1. Bill Stirling

Table 2: Jundee Mineral Reserve Summary as at 31 December 2014

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Section 2 Reporting of Exploration Results

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

Section 3 Estimation and Reporting of Mineral Resources

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

Section 4 Estimation and Reporting of Ore Reserves

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

AI assistant

NORTHERN STAR RESOURCES LTD — Capital/Financing Update 2015

65447_rns_2015-02-15_d3711d1f-3104-44fc-8d06-39c62ef6a87c.pdf

NORTHERN STAR GROWS JUNDEE MINE LIFE WITH ANOTHER ~300,000oz IN RESOURCES and 32,000oz in RESERVES Plus further increases to come on back of lodes yet to be modelled and fresh strong drilling results

KEY POINTS

ASX ANNOUNCEMENT 16 February 2015

Australian Securities Exchange Code: NST

Board of Directors

Issued Capital

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

BILL BEAMENT Managing Director Northern Star Resources Limited

Competent Persons Statements

Forward Looking Statements

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

Competent Person

Competent Person

1. Bill Stirling

Table 2: Jundee Mineral Reserve Summary as at 31 December 2014

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

Section 2 Reporting of Exploration Results

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

Section 3 Estimation and Reporting of Mineral Resources

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

Section 4 Estimation and Reporting of Ore Reserves

ASX ANNOUNCEMENT – 16 FEBRUARY 2015

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NORTHERN STAR RESOURCES LTD Capital/Financing Update 2015