RAND MINING LIMITED — Interim / Quarterly Report 2014

Nov 9, 2014

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The Listing Manager Australian Securities Exchange Level 4 20 Bridge Street SYDNEY NSW 2000

November 10, 2014

Monthly Production Report for October 2014

The production rate at Raleigh will increase as the new stoping front is established. Again, the production schedule at Rubicon and Hornet has been re‐optimized, using some of the resources from Raleigh, to minimize the production shortfall at Raleigh due to the February earthquake.

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End of Month Status Raleigh – Production
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green indicates new developments

Rubicon – Development and Production

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green indicates new developments

Pegasus – Development

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The development at Pegasus has intersected K2 ore in the 6127 drive

	MINE PRODUCTION	MINE PRODUCTION
		**Raleigh U/G **	**Rubicon U/G **
Ore	t	5,649	48,534
Grade	g/t Au	12.0	12.5
Gold	oz	2,187	19,650
Rand’s Entitlement	%	12.50	12.25

	MINE OPERATING COSTS
**Total Cost$M **	Raleigh	Unit Cost	Rubicon
**October 14 ***	1.328	$/t ore	95
September 14 *	1.099	$/ozgold	235

*** includes rehabilitation costs**

	MINE DEVELOPMENT	MINE DEVELOPMENT	MINE DEVELOPMENT	MINE DEVELOPMENT	MINE DEVELOPMENT
					**Raleigh **		Rubicon
Capital	Decline		m			0.0	124.1
	Secondary		m			0.0	368.3
Operating	Waste		m			0.0	20.2
	Ore		m			0.0	262.6
	Past Fill		m			0.0	48.0
End of monthposition				RL(m)		below surface(m)
Raleigh Decline		bottom			5618	727
Rubicon Decline		bottom			6005	338
Hornet Incline		top			6244	99
Hornet Decline		bottom			5889	454
Pegasus Access		bottom			6119	224

End of month EKJV STOCKPILES

End of month EKJV STOCKPILES	End of month EKJV STOCKPILES	End of month EKJV STOCKPILES	End of month EKJV STOCKPILES
ROMpad	Ore Source	Ore	Grade
		t	g/t Au
**Raleigh **	Raleigh	5,467	12.4
Rubicon	Rubicon	22,548	13.2
Kanowna Belle	Rubicon	21,934	13.3

Toll Processing

During the month, 3,006 tonnes (wet) of Raleigh ore and 48,194 tonnes (wet) of Rubicon ore were hauled to the Kanowna Belle Plant and 44,941 tonnes of EKJV ore was processed.

Bullion accredited to RAND and TRIBUNE Accounts from Kanowna Belle
Month	Gold(oz)	Silver(oz)	Rand’s sharegold
October 14	8,266.176	2,034.682	2,066.543
September 14	9,350.603	2,193.971	2,337.650