RAND MINING LIMITED — Interim / Quarterly Report 2016

Apr 27, 2016

EKJV Exploration Report

March 2016 Quarter

ASX ANNOUNCEMENT

28 April 2016

Australian Securities Exchange Code: RND

Rand Mining Ltd (ASX code: RND) has pleasure in providing the Quarterly EKJV Exploration Report dated 27 April 2016.

For further information please contact:

Board of Directors:

Mr Otakar Demis Chairman and Joint Company Secretary

Roland Berzins

E: rberzins@gcpcapital.com.au

Ph: +61 8 9474 2113

Mr Anton Billis Managing Director

Mr Gordon Sklenka

Non-Executive Director

Mr Roland Berzins Joint Company Secretary

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Suite G1, 49 Melville Parade
South Perth WA 6151
T: +61 8 9474 2113
F: +61 8 9367 9386
E: info@randmining.com.au
W: www.randmining.com.au
ABN: 41 004 669 658
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EAST KUNDANA JOINT VENTURE

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MARCH 2016 QUARTERLY EKJV EXPLORATION REPORT

For distribution to JV Partners:

• Northern Star Resources Limited

• Tribune Resources Limited

• Rand Mining Limited

1 SUMMARY

A total of 6,542m was drilled during the March quarter with a surface diamond rig operating at Falcon and Lunar Duck prospects and one underground rig targeting the Pode structure from the Pegasus infrastructure.

			RC Drill	No.	DD Drill	No.
Project	Prospect	Tenement	Metres	Samples	Metres	Samples	Comments
EKJV	Falcon	M16/309	-	-	366	1,864
EKJV	Lunar Duck	M16/309	-	-	471	378
EKJV	Pegasus	M16/309	-	-	5,705	2,560	Pode UG drilling
	Total		-	-	6,542m	4,802

Table 1 - EKJV Drilling Summary for the Quarter.

1.1 Pegasus Prospect Locations

The prospect locations as referred to in this report are presented in Figure 1 and 2.

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Figure 1 - Long Section of the Pegasus Deposit showing the Local Prospect Names.

1.2 Schematic Kundana Cross Section

A schematic cross section of the Kundana field is presented in Figure 2 with the conceptual positions of mineralisation shown in red (Pegasus K2), orange (Falcon) and pink (Strzelecki structure). References throughout this report are made to these mineralisation locations; namely K2, K2E, K2B, Pode, K2A and Falcon.

2016 - EKJV Exploration Report - March Quarter

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Figure 2 - Schematic Cross Section of the Kundana EKJV Deposits showing Mineralisation Positions (Red and Orange).

2 DRILLING

2.1 January

A total of 837m was drilled at East Kundana Joint Venture prospects during January with 471m drilled at Lunar Duck and 366m drilled at the Falcon prospect.

A total of 2,242 diamond samples were sent to the assay laboratory lab from the Falcon and Lunar Duck projects.

2.1.1 Lunar Duck

Two diamond holes were completed at the Lunar Duck prospect for a total of 471m (Table 2, Figure 3.). The two holes followed up on the September 2015 drill program, a seven hole program, that tested an area of the K2 structure between the Drake and Moonbeam prospects with no previous drilling. The September program intersected weak to moderate mineralisation but failed to find any economic zones.

The two new holes, LDDD15008 and LDDD15009, targeted down dip of the best intercepts from the September program to ensure no narrow, high grade shoots had been missed. LDDD15008 intersected several zones of interesting alteration and shearing with a thin 5cm laminated quartz vein on the K2 structure accompanied by three metres of strong silica alteration and fine sulphides. LDDD15009 intersected many planar quartz veins throughout the Victorious Basalt and irregular quartz veining on the K2 structure.

2.1.2 Falcon

A single diamond hole (FLDD15010) was drilled at the northern end of Falcon for 366m (Table 2, Figure 3). This was the final hole in a program targeting mineralisation along strike of the economic intercepts discovered at the southern end of Falcon in early 2015. The total drill program consisted of seven RC holes and a single diamond hole to gain textural and structural data.

FLDD15010 targeted the intermediate volcanoclastic unit and the upper portion of the Bent Tree Basalt but did not intersect any significant structures or mineralisation.

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Hole ID	Tenement	Start Date	End Date	Depth	East Local)	North (Local)	RL (Local)	Hole **Type **	Dip	Azimuth (Local)
LDDD15008	M16/309	7 Dec 15	11 Dec 15	279	9613	18499	6346	DD	-60	85
LDDD15008	M16/309	9 Dec 15	11 Dec 15	192	9676	18576	6346	DD	-60	86
FLDD15010	M16/309	12 Dec 15	17 Dec 15	366	9472	18252	6343	DD	-63	82
Table 2 -	Lunar Duck and Falcon drilling details for December. Local grid is the K10 mine grid.

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Figure 3 – EKJV drilling location in January (yellow) and significant assays received in January (pink).

2.2 February

A total 24 holes for 5,132m (Table 3) were drilled at Pegasus from underground in February targeting the Pode structure and the northern limits of the Pegasus mineralisation.

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2.2.1 Pegasus

PEGDD101-104 and PEGDD113-114 targeted an area of the Pode structure requiring detailed infill drilling to further define the extent and orientation of the structure and associated mineralisation. PEGDD120-129 targeted an area immediately north of the initial holes to infill the targeted structure on a spacing of 30m x 30m.

PEGDD087, PEGDD089 and PEGDD090 were drilled targeting Pegasus North for edge definition of the resource and as follow up some earlier higher grade intersections at depth to the north.

PEGDD115-PEGDD119 targeted an area on the adjacent K2B structure where the resource model indicated potentially higher grades in the area of the planned Pegasus incline. This would determine whether the incline would need to be moved to enable mining of the K2B without compromising the incline.

Hole ID	Tenement	Start Date	End Date	Depth	East (Local)	North (Local)	RL (Local)	Hole **Type **	Dip	Azimuth (Local)
PEGDD087	M16/309	02-Feb-16	06-Feb-16	456.67	9691	16990	6057	DD	-38.58	10.41
PEGDD089	M16/309	06-Feb-16	10-Feb-16	453	9691	16990	6057	DD	-47.69	12.93
PEGDD090	M16/309	10-Feb-16	16-Feb-16	567	9691	16990	6057	DD	-39.05	6.78
PEGDD101	M16/309	09-Feb-16	11-Feb-16	198	9885	16993	6173	DD	7.83	285.93
PEGDD102	M16/309	08-Feb-16	09-Feb-16	179.9	9885	16992	6173	DD	19.76	294.28
PEGDD103	M16/309	07-Feb-16	08-Feb-16	164.97	9886	16992	6175	DD	25.64	301.13
PEGDD104	M16/309	05-Feb-16	06-Feb-16	161.83	9886	16992	6175	DD	32.58	311.27
PEGDD113	M16/309	31-Jan-16	02-Feb-16	182.81	9884	17032	6175	DD	3.6	301.2
PEGDD114	M16/309	02-Feb-16	04-Feb-16	242.9	9883	17032	6174	DD	-8.16	305.66
PEGDD115	M16/309	18-Feb-16	18-Feb-16	62.7	9823	16858	6221	DD	25.74	74.79
PEGDD116	M16/309	19-Feb-16	19-Feb-16	86.57	9823	16858	6221	DD	41.03	65.22
PEGDD117	M16/309	21-Feb-16	21-Feb-16	89	9823	16858	6221	DD	39.65	46.65
PEGDD118	M16/309	20-Feb-16	21-Feb-16	111.25	9823	16858	6221	DD	42.13	36.53
PEGDD119	M16/309	19-Feb-16	20-Feb-16	90.1	9828	16867	6222	DD	28.95	26.88
PEGDD120	M16/309	11-Feb-16	14-Feb-16	297	9884	17026	6173	DD	-12.27	306.1
PEGDD121	M16/309	14-Feb-16	17-Feb-16	261	9884	17026	6173	DD	-5.53	313.45
PEGDD122	M16/309	17-Feb-16	18-Feb-16	165	9884	17026	6175	DD	12.24	308.85
PEGDD123	M16/309	18-Feb-16	19-Feb-16	152	9884	17026	6175	DD	27.51	312
PEGDD124	M16/309	19-Feb-16	21-Feb-16	170.5	9884	17026	6175	DD	22.38	324.8
PEGDD125	M16/309	21-Feb-16	22-Feb-16	201	9884	17026	6173	DD	7.92	318.74
PEGDD126	M16/309	22-Feb-16	24-Feb-16	231	9884	17026	6173	DD	3.96	322.91
PEGDD127	M16/309	29-Feb-16	01-Mar-16	206	9884	17036	6174	DD	18.6	330.25
PEGDD128	M16/309	26-Feb-16	28-Feb-16	192.1	9884	17036	6174	DD	25	333.7
PEGDD129	M16/309	24-Feb-16	26-Feb-16	263.6	9884	17026	6173	DD	2.06	326.17

Table 3 - Drilling summary for the Pegasus, February 2016. Local grid is the K10 mine grid

2.3 March

The underground drilling targeting the Pode structure continued in March with a total 3 holes for 573 m completed (Table 4).

2.3.1 Pegasus

The three holes were the final part of the program infilling the targeted portion of the main Pode lode to a spacing of 30m x 30m.

Hole ID	Tenement	Start Date	End Date	Depth	East (Local)	North (Local)	RL (Local)	Hole **Type **	Dip	Azimuth (Local)
PEGDD127	M16/309	29-Feb-16	-Mar-16	206	9,884	17,036	6,174	DD	19	330
PEGDD130	M16/309	4-Mar-16	6-Mar-16	288.06	9,884	17,036	6,174	DD	6	330
PEGDD131	M16/309	1-Mar-16	4-Mar-16	249	9,884	17,036	6,174	DD	14	333

Table 4 - Drilling summary for the Pegasus project, February 2016. Local grid is the K10 mine grid

2016 - EKJV Exploration Report - March Quarter

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3 Results

3.1 January

Assay results were returned for six diamond drill holes completed in December from the Pegasus, Ambition, Falcon, and Lunar Duck prospects.

3.1.1 Pegasus

Results were returned for a Pegasus hole, PGDD15020 that targeted the Polaris zone of mineralisation on the K2 structure but was abandoned at 42m due to excessive deviation and subsequently redrilled as PGDD15030.

Nonetheless, the hole intersected weathered intermediate volcanoclastic rock with significant veining in the saprolite/saprock zone. Assays returned a wide, low grade intersection (4.2m @ 1.38gpt from 22m) and one narrow high grade intersection (0.7m @ 9.72gpt from 34.4m).

Hole ID	East (Local)	North (Local)	RL (Local)	Dip	Azi (Local)	Hole Depth	From	To	Width	Grade gpt Au	Zone
PGDD15020	9517	17309	6347	-64	89	42.0	22.0	26.2	4.2	1.38	IVT (Falcon?)
							34.4	35.1	0.7	9.72	IVT (Falcon?)

Table 5 - Significant intercepts for Pegasus/Falcon returned in December. Local grid is the K10 mine grid.

Results are pending for the end of PGDD15029 that targeted the Falcon structures ~300m west of the Pegasus prospect. The hole was extended through the Falcon target to intersect the K2 structure due to its favourable location intersecting the K2 structure down dip of the Polaris mineralisation in an area with no previous drilling.

3.1.2 Falcon

Assay results were returned for two Falcon holes, PGDD15028 and PGDD15029, in January (Table 6). Both holes targeted sheared quartz veining in the intermediate volcanoclastics west of the K2A structure (the lithological contact between the volcanoclastics and the Bent Tree Basalt to the east) approximately 300m west of Pegasus.

PGDD15028 intersected a wide zone of quartz veining in strongly sheared and tightly folded volcanoclastic rock with associated strong mineralisation and alteration, which returned an overall assay result of 9.3m @ 26.2gpt.

Visible gold was observed over a three metre section with this high grade zone returning 3.6m @ 62.9gpt with a thin zone containing intense visible gold returning 0.4m @ 515gpt. This intercept is approximately 100m above, and slightly north, of the high grade intersection recorded in PGDD15018 of 0.4m @ 528gpt from early 2015.

PGDD15029 (located ~70m southwest of PGDD15028) intersected several small zones of quartz veining in the volcanoclastics, but no wide zones with significant mineralisation. The best result of 0.7m @ 10.8gpt from 308m highlights the Falcon target.

Hole ID	East (Local)	North (Local)	RL (Local)	Dip	Azi (Local)	Hole Depth	From	To	Width	Grade gpt Au	Zone
PGDD15028	9407	17175	6343	-64	87	462.0 Incl.	188.7	198.0	9.3	26.2	Falcon
							188.7	192.3	3.6	62.9	Falcon
PGDD15029	9368	17229	6343	-65	91	951.0	308.0	308.7	0.7	10.8	Falcon
							462.4	463.6	1.2	2.27	Pode
							589.9	597.2	7.2	2.92	Pode

Table 6 - Significant intercepts for Falcon returned in December. Local grid is the K10 mine grid.

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3.1.3 Luna Duck

Results were received for the diamond tail of the final hole, LDCD15006 (Table 7). The diamond tail was drilled as the original RC hole was abandoned early due to excessive channel sands bogging the rods.

Screen fire assay results for the K2 structure were reported previously, however assays results for the remaining samples surrounding the K2 structure were in December. The fire assay results were very low grade (<1gpt) and did not change the final result, a thin, but moderately mineralised K2 structure.

Hole ID	East (Local)	North (Local)	RL (Local)	Dip	Azi (Local)	Hole Depth	From	To	Width	Grade gpt Au	Zone
LDCD15006	9598	18571	6347	-58	85	270.0	253.8	254.4	0.6	4.66	K2

Table 7 - Significant intercepts for Lunar Duck. Local grid is the K10 mine grid.

3.1.4 Ambition

Results were received for two Ambition holes, AMDD15038 and AMCD15046 (Table 8).

AMDD15038 targeted the K2 structure down dip from previous significant intersections but unfortunately intersected only weak gold mineralisation on the K2 structure.

AMCD15046 targeted the stockwork zone at Cochrane (directly west of Ambition) intersecting a significant zone of stockwork quartz veining. Assay results were disappointing showing only very weak gold mineralisation in the veining.

Hole ID	East (Local)	North Local)	RL (Local)	Dip	Azi (Local)	Hole Depth	From	To	Width	Grade gpt Au	Zone
AMDD15038	9044	25411	6369	-70	99	390.0	317.0	318.0	1.0	2.03	K2
AMCD15046	9044	25411	6369	-60	247	396.0	346.0	348.5	2.5	1.02	Cochrane
							358.0	359.0	1.0	1.01	Cochrane

Table 8 - Significant intercepts for Ambition returned in December. Local grid is the K10 mine grid.

3.2 February

3.2.1 Pegasus

Assay results for twelve holes were received with the significant intercepts (above 2 gram metres) from five holes (Table 9). PEGDD105, PEGDD109 and PEGDD111 intersected brecciated veins around 1 metre wide within mineralised zones of around two metres. PEGDD112 intersected a narrow, weakly mineralised, K2B vein as well as a large brecciated Pode vein. PEGDD106A and PEGDD109 intersected narrow, irregular, quartzcarbonate-sulphide veins with PEGDD106A also containing visible gold.

Hole ID	East (Local)	North (Local)	RL (Local)	Dip	Azi (Local)	Hole Depth	From	To	Width	Grade gpt Au	Zone
PEGDD105	9883	17030	6173	-9	256	198	161.71	164.8	3.09	1.48	PODE
PEGDD106A	9883	17031	6174	5	264	149.9	116	118	2	4.31	Vein in XVB
PEGDD109	9883	17031	6173	-13	286	240	183	186	3	3.8	Vein in XBTB
							202	204.1	2.1	4.37	PODE
PEGDD111	9883	17031	6174	10	282	179.9	151.4	153.8	2.4	4.32	PODE
PEGDD112	9883	17031	6173	-7	296	213	149.85	151.9	2.1	1.21	K2B
							179.95	184	4.05	3.2	Vein

Table 9 - Significant intercepts for Pegasus returned in February. Local grid is the K10 mine grid. XVB = Victorious basalt; XBTB = Bent tree basalt

2016 - EKJV Exploration Report - March Quarter

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3.3 March

Assay results for the Pegasus underground drilling targeting Pode were returned in March.

3.3.1 Pegasus

Results were received for twenty-two holes with the significant intercepts (above two gram metres) from eighteen holes (Table 10).

Veining varied between narrow, quartz carbonate sulphide veins within the Bent Tree and Victorious Basalts, laminated K2B veins and brecciated Pode veins and where they both intersect.

Hole ID	East (Local)	North (Local)	RL (Local)	Dip	Azi (Local)	Hole Depth	From	To	Width	Grade gpt Au	Zone
PEGDD045	9799	16859	6079	-55	131	123	89.26	90	0.74	6.26	Vein
PEGDD045	9799	16859	6079	-55	131	123	92.56	93.81	1.25	10.1	K2E
PEGDD045	9799	16859	6079	-55	131	123	95.36	98.08	2.72	8.23	Vein
PEGDD045	9799	16859	6079	-55	131	123	105.78	107.25	1.47	3.33	K2E
PEGDD101	9886	16991	6173	8	286	198	150	154	4	1.8	Pode
PEGDD102	9886	16991	6174	20	294	179.9	27	31	4	1.49	Vein
PEGDD102	9886	16991	6174	20	294	179.9	138	155	17	17.01	Pode
PEGDD103	9886	16992	6174	26	301	165	114.2	126.33	12.13	2.25	Vein
PEGDD103	9886	16992	6174	26	301	165	139.2	145.4	6.2	10.5	K2B/Pode
PEGDD104	9886	16992	6175	33	311	161.8	134	141	7	16.52	Pode
PEGDD113	9883	17031	6174	4	301	182.8	150.88	153	2.12	6.14	Pode
PEGDD114	9883	17031	6173	-8	305	242.9	168.95	169.5	0.55	17.2	K2B
PEGDD114	9883	17031	6173	-8	305	242.9	174	207.7	33.7	1.37	Vein
PEGDD115	9823	16857	6220	25	75	62.7	37.45	37.93	0.48	7.96	K2B
PEGDD115	9823	16857	6220	25	75	62.7	37.93	41	3.07	3.9	K2B
PEGDD115	9823	16857	6220	25	75	62.7	43	44	1	2.22	Vein
PEGDD115	9823	16857	6220	25	75	62.7	47.7	48	0.3	8.94	Vein
PEGDD120	9884	17026	6173	-12	306	297	209	211	2	2.55	Vein
PEGDD120	9884	17026	6173	-12	306	297	226.85	235	8.15	2.05	Pode
PEGDD121	9884	17026	6173	-5	313	261	193	195	2	4.4	Vein
PEGDD121	9884	17026	6173	-5	313	261	198	207	9	2.69	Pode
PEGDD122	9884	17026	6174	12	309	165	144	145	1	3.12	K2B
PEGDD123	9884	17026	6175	28	312	152	127	129	2	1.3	Vein
PEGDD123	9884	17026	6175	28	312	152	129	130	1	7.34	K2B
PEGDD125	9884	17027	6174	8	318	201	148	151	3	3.1	Vein
PEGDD125	9884	17027	6174	8	318	201	154	160	6	7.7	K2B/Pode
PEGDD126	9884	17026	6174	4	323	231	174.96	183.05	8.09	5.07	K2B
PEGDD127	9885	17036	6175	19	330	206	164	164.45	0.45	13.2	Pode
PEGDD129	9884	17027	6173	2	326	263.5	194	196	2	2.99	Vein
PEGDD129	9884	17027	6173	2	326	263.5	196	205	9	2.1	K2B
PEGDD129	9884	17027	6173	2	326	263.5	221	222.97	1.97	3.09	Pode
PEGDD130	9884	17036	6174	6	330	288.1	193	215	22	7.11	K2B
PEGDD131	9885	17036	6174	14	333	249	177.7	178.7	1	6.3	K2B
PEGDD131	9885	17036	6174	14	333	249	201	203	2	11.1	Vein
PEGDD131	9885	17036	6174	14	333	249	212.85	216	3.15	4.37	Vein

Table 10. Significant intercepts for Pegasus returned in February. Local grid is the K10 mine grid. XVB = Victorious basalt; XBTB = Bent tree basalt.

Competency Statements

The information in this report relating to Exploration Results is based on information compiled by Mr Nicholas Jolly who is a Member of the Australian Institute of Mining and Metallurgy and has sufficient exploration experience which is relevant to the style of mineralisation under consideration 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 Jolly is a full time employee of Northern Star Resource Limited and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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APPENDIX 1

JORC Code, 2012 Edition – Table 1 Pegasus, Drake, Falcon, Raleigh Corridor and Ambition.

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 (e.g. 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.  Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.  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 (e.g. ‘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 (e.g. submarine nodules) may warrant disclosure of detailed information.	 Sampling was completed using a combination of Reverse Circulation (RC) and Diamond Drilling (DD). RC drilling was used to drill pre-collars were for many of the Resource definition holes with diamond tails. Diamond drilling constitutes the rest of the drilling  Diamond core was transferred to core trays for logging and sampling. Half core samples were nominated by the geologist from both NQ and HQ diamond core, with a minimum sample width of either 20cm (HQ) or 30cm (NQ).  RC samples were split using a rig-mounted cone splitter on 1m intervals to obtain a sample for assay. 4m Composite spear samples were collected for most of each hole, with 1m samples submitted for areas of known mineralization or anomalism.  Samples were taken to Genalysis Kalgoorlie for preparation by drying, crushing to <3mm, and pulverizing the entire sample to <75μm. 300g Pulps splits were then dispatched to Genalysis Perth for 50g Fire assay charge and AAS analysis.
Drilling techniques	 Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. 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.).	 Diamond drilling was used from surface. HQ (63.5mm) diameter core was drilled for all resource definition holes, elsewhere both HQ and NQ (50.5mm) diameter core was drilled.  Core was orientated using the Reflex ACT Core orientation system.
Drill sample recovery	 Method of recording and assessing core and chip sample recoveries and results assessed.  Measures taken to maximise sample recovery and ensure representative nature of the samples.  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.	 RC drilling contractors adjust their drilling approach to specific conditions to maximize sample recovery. Moisture content and sample recovery is recorded for each RC sample. No recovery issues were identified during 2013 RC drilling. Recovery was poor at the very beginning of each hole, as is normal for this type of drilling in overburden.  For diamond drilling the contractors adjust their rate of drilling and method if recovery issues arise. All recovery is recorded by the drillers on core blocks. This is checked and compared to the measurements of the core by the geological team. Any issues are communicated back to the drilling contractor.  Recovery was excellent for diamond core and no relationship between grade and recovery was observed. For RC drilling, pre-collars were ended before known zones of mineralization and recovery was very good through any anomalous zones, so no issues occurred.  For Raleigh Corridor, the drilling intersecting the Strzelecki Shear was drilled HQ3, to retain any possible fault gauge that is commonly present on this structure and can contain significant amounts of gold mineralisation. Normal HQ2 drilling has the possibility of poor recovery of the fault gauge.
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.  Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.  The total length and percentage of the relevant intersections logged.	 All diamond core is logged for Regolith, Lithology, veining, alteration, mineralisation and structure. Structural measurements of specific features are also taken through oriented zones. All logging is quantities where possible and qualitative elsewhere. A photograph is taken of every core tray.  RC sample chips are logged in 1m intervals. For the entire length of each hole. Regolith, lithology, alteration, veining and mineralisation are all recorded.

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Criteria	JORC Code Explanation	Commentary
Sub-sampling techniques and sample preparation	 If core, whether cut or sawn and whether quarter, half or all core taken.  If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.  For all sample types, the nature, quality and appropriateness of the sample preparation technique.  Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.  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.  Whether sample sizes are appropriate to the grain size of the material being sampled.	 All Diamond core is sawn and half core taken. Almonte core saws are used with core boats ensuring that core is sawn strictly in half for consistent quality of sample. HQ2 sized diamond core is the most appropriate sample for the nature of the mineralisation. The remaining half core is stored for later use.  All RC samples are split using a rig-mounted cone splitter to collect a 1m sample 3-4kg in size. The cone splitters are level ensuring sample quality is consistent and representative of the whole 1m sample. These samples were submitted to the lab from any zones approaching known mineralized zones and from any areas identified as having anomalous gold. Outside of mineralized zones, spear samples were then taken to give a 4m composite sample.  Field duplicates were taken for RC samples at a rate of 1 in 20.  Sample preparation was conducted at Genalysis Kalgoorlie, commencing with sorting, checking and drying at less than 110°C to prevent sulphide breakdown. Samples are jaw crushed to a nominal -6mm particle size. If the sample is greater than 3kg a Boyd crusher with rotary splitter is used to reduce the sample size to less than 3kg (typically 1.5kg) at a nominal <3mm particle size. The entire crushed sample (if less than 3kg) or sub-sample is then pulverized to 90% passing 75μm, using a Labtechnics LM5 bowl pulveriser. 300g Pulp subsamples are then taken with an aluminium scoop and stored in labelled pulp packets.  Grind checks are performed at both the crushing stage (3mm) and pulverising stage (75μm), requiring 90% of material to pass through the relevant size to ensure consistent sample preparation.
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 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.  Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	 A 50g fire assay charge is used with a lead flux, dissolved in the furnace. The prill is totally digested in HCl and HNO3acids before Atomic Absorption Spectroscopy (AAS) determination for gold analysis. This method ensures total gold is reported appropriately.  No geophysical tools were used to determine any element concentrations  Certified Reference Materials (CRMs) are inserted into the sample sequence randomly at a rate of 1 per 20 samples to ensure correct calibration. Any values outside of 3 standard deviations are re-assayed with a new CRM.  Blanks are inserted into the sample sequence at a rate of 1 per 20 samples. This is random, except where high grade mineralisation is expected. Here, a Blank is inserted after the high grade sample to test for contamination. Failures above 0.2gpt are followed up, and re-assayed. New pulps are prepared if failures remain.  Field Duplicates are taken for all RC samples (1 in 20 sample). No Field duplicates are submitted for diamond core.  All sample QAQC results are assessed by geologists to ensure the appropriate level of accuracy and precision when the results have been returned from the laboratory.
Verification of sampling and assaying	 The verification of significant intersections by either independent or alternative company personnel.  The use of twinned holes.  Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.  Discuss any adjustment to assay data.	 All significant intersections a verified by another geologist during the drill hole validation process, and later by a Competent person to be signed off  No Twinned holes were drilled for this data set  Geological logging was captured using Acquire database software. Both a hardcopy and electronic copy of these are stored. Assay files are received in csv format and loaded directly into the database by the supervising geologist who then checks that the results have inserted correctly. Hardcopy and electronic copies of these are also kept. No adjustments are made to this assay 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.  Specification of the grid system used.  Quality and adequacy of topographic control.	 A planned hole is pegged using a Differential GPS by the field assistants  During drilling single-shot surveys are every 30m to ensure the hole remains close to design. This is performed using the Reflex Ez-Trac system. Upon hole completion, a gyroscopic survey is conducted by ABIMS or Gyro Australia, taking readings every 5m for

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Criteria	JORC Code Explanation	Commentary
		improved accuracy. This is done in true north.  The final collar is picked up after drill hole completion by Differential GPS in the MGA 94_51 grid.  Good quality topographic control has been achieved through Lidar data and survey pickups of holes over the last 15 years.
Data spacing and distribution	 Data spacing for reporting of Exploration Results.  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.  Whether sample compositing has been applied.	 Drill hole spacing across the area varies. For the resource definition drilling within Pegasus, spacing is typically 50m x 50m allowing the resource to be graded as an Indicated Resource. For the Pode, drilling spacing was approximately 40m x 40m. The HRPD drilling is more wide spaced, as this is largely unclassified for resource reporting purposes. Spacing is wider than 160m in some areas.  These drill spacings are considered appropriate for the Mineral Resource classifications identified.  No compositing has been applied to these exploration results, although composite intersections are reported.
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.  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 majority of the structures in the Kundana camp dip steeply (80°) to WSW. The Pode structure has a much shallower dip in a similar direction, approximately 45°. To target these orientations the drill hole dips of 60-70° towards ~060° achieve high angle intersections on all structures.  No sampling bias is considered to have been introduced by the drilling orientation
Sample security	 The measures taken to ensure sample security.	 Prior to laboratory submission samples are stored by Barrick Kanowna in a secure yard. Once submitted to the laboratories they are stored in a secure fenced compound, and tracked through their chain of custody via audit trails
Audits or reviews	 The results of any audits or reviews of sampling techniques and data.	 No audits or reviews have recently been conducted on sampling techniques.

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 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 holes mentioned in this report are located within the M16/309 and M16/326 Mining leases held by The East Kundana Joint Venture (EKJV). The EKJV is majority owned and managed by Northern Star Resources Ltd (51%). The minority holding in the EKJV is held by Tribune Resources Ltd (36.75%) and Rand Mining Ltd (12.25%).  The tenement on which the Pegasus deposit is hosted (M16/309) is subject to two royalty agreements; however neither of these is applicable to the Pegasus deposit. The agreements that are on M16/309 but not relevant to the Pegasus project are the Kundana‐Hornet Central Royalty and the Kundana Pope John Agreement No. 2602‐13.  No known impediments exist and the tenements are in good standing
Exploration done by other parties	 Acknowledgment and appraisal of exploration by other parties.	HORNET-RUBICON-PEGASUS-DRAKE (HRPD)  The first reference to the mineralization style encountered at the Pegasus project was the mines department report on the area produced by Dr. I. Martin (1987). He reviewed work completed in 1983 – 1984 by a company called Southern Resources, who identified two geochemical anomalies, creatively named Kundana #1 and Kundana #2. The Kundana #2 prospect was subdivided into a further two prospects, dubbed K2 and K2A.  Between 1987 and 1997, limited work was completed.  Between 1997 and 2006 Tern Resources (subsequently Rand and Tribune Resources), and Gilt-edgedminingfocused onshallowopenpitpotential which wasnotconsidered

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Criteria	JORC Code Explanation	Commentary
		viable.  In 2011, Pegasus was highlighted by an operational review team and follow-up drilling was planned through 2012.  This report is concerned solely with 2015 drilling that led on from this period. AMBITION  The Ambition target was originally defined by Goldfields Limited in 2001 from magnetic ‘anomalies’ as “a continuation of the Arctic Structure mined in the Arctic Pit to the south” and “The second target area, a further kilometre north, is made up of medium to coarse grained gabbro consistent with Units 4 to 6 of the Powder Sill, and a conglomeratic sequence to the east”  Late in 2001, a total of 32 RC holes were drilled for 2332m (ARC293-ARC324). ARC296 returned 2m @ 2.67gpt from 56m in carbonaceous shale. Set depth drilling with ARC315 also intersected 2m @ 0.49gpt at the end-of-hole near where the contact is visible in outcrop.  A magnetic high identified from the 1997 aeromagnetic data was named JH1 and modelled in late 2002. The magnetic lineament including this anomaly was drilled with RC holes JHRC001 to JHRC004 in early 2003, but despite the diligent modelling, the targeted structure is offset to the west of the centre of the lineament and these holes therefore missed the targeted contact, drilling only the footwall stratigraphy. RALEIGH CORRIDOR  The Raleigh Corridor prospect includes the Golden Hind, Sir Walter and Wicked Witch targets worked by Tribune Resources, Placer Dome and Barrick Gold in the past. All targets are either the Strzelecki Structure where it juxtaposes volcanogenic wacke against intermediate volcanoclastic rocks or the sub parallel gabbro-wacke intrusive contact.  The original diamond drilling of Golden Hind was by Tribune Resources in the late 1990s, work which was progressed with more diamond drilling by Barrick Gold in 2005 and 2007-8 totalling 15 diamond drill holes  Placer Dome progressed the Sir Walter zone with four diamond holes in 2004-5  Barrick Gold progressed the Wicked Witch part of the prospect with three diamond holes in 2006  The Raleigh Corridor target in its current form was consolidated from multiple small prospects by Barrick Gold geologists in 2012 and advanced with ten diamond drill holes and seven RC holes. These holes returned several high grade intercepts up to around 1000 grammetres leading to the current attention given to the target. FALCON*  The Falcon prospect defines a new exploration project formed in early 2015 and located in the Kundana camp between the Zuleika (K2A) and Strzelecki shear zones.  In 1999 Goldfields Limited conducted a drill testing programme in the northern extent of the prospect, the Juliet prospect, consisting of 21 RC holes and 2 diamond holes, which targeted the K2A structure only, the current eastern border of the Falcon prospect.  Previous exploration in the prospect was minimal, consisting of regional exploration in the form of wide spaced RAB and air core drilling in 2000 and 2002 by Goldfields Limited, and a wide 100m spaced RC programme conducted by Barrick Gold in 2012, all focussed on targeting the Strzelecki and Zuleika structures.  All previous exploration failed to identify the mineralisation potential in the intermediate volcanoclastic unit, which was first discovered in several diamond drill holes drilled in early 2015 to target the western extents of the Pegasusprospect.
Geology	 Deposit type, geological setting and style of mineralisation.	 The Kundana camp is situated within the Norseman-Wiluna Greenstone Belt, in an area

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Criteria	JORC Code Explanation	Commentary
		dominated by the Zuleika shear zone, which separates the Coolgardie domain from the Ora Banda domain. The Zuleika Shear Zone in the Kundana area comprises multiple anastomosing shears the most important of which are the K2, the K2A and Strzelecki shears.  Strzelecki mineralisation (Raleigh Corridor) consists of very narrow, very high grade mineralisation on a laminated vein hosted in the camp-scale Strzelecki Shear which abuts a differentiated mafic intrusive, the Powder Sill Gabbro against intermediate volcanoclastic rocks (Spargoville Formation). A thin ‘skin’ of volcanogenic lithic siltstone- sandstone lies between the gabbro and the Strzelecki shear. Being bound by an intrusive contact on one side and a sheared contact on the other, the thickness of the sedimentary package is highly variable from absent to about forty metres true width.  K2-style mineralisation (Pegasus, Rubicon, Hornet, Drake, and Ambition) consists of narrow vein deposits hosted by shear zones located along steeply-dipping overturned lithological contacts.  At the HRPD deposits, the K2 structure is present along the contact between a black shale unit (Centenary shale) and intermediate volcanoclastic (Spargoville formation).  At Ambition, the K2 structure has the same footwall stratigraphy as the rest of the structure but in the hangingwall is the Powder Sill Gabbro and Volcanogenic siltstone- sandstone.  Minor mineralization, termed K2B, also occurs between the Strzelecki and K2 shears, on the contact between the victorious basalt and Bent Tree Basalt (both part of the regional upper Basalt Sequence).  A 50° W dipping fault offsets this contact and exists as a zone of vein-filled brecciated material hosting the Pode-style mineralisation.
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.  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.	 See Tables 2 to 5. Drilling for the December Quarter is listed in Table 2. Significant results returned during the quarter are listed in Tables 3 to 5.  All other information that is material to the EKJV has been reported in previous EKJV reports.
Data aggregation methods	 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.  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.  The assumptions used for any reporting of metal equivalent values should be clearly stated.	 All reported assay results have been length weighted to provide an intersection width. A maximum of 2m of barren material between mineralized 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 1gpt 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.  No metal equivalent values have been used for the reporting of these exploration results
Relationship between mineralisation widths and intercept lengths	 These relationships are particularly important in the reporting of Exploration Results.  If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.  If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	 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.
Diagrams	 Appropriate maps and sections (with scales) and tabulations of intercepts should be	 Appropriate plans and section have been included in the body of this report.

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Criteria	JORC Code Explanation	Commentary	Commentary
	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.
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 drill hole 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.	 Metallurgical test work was conducted on 9 Pegasus samples. The results are summarized as follows: o All Pegasus recoveries were above 91% for the leach tests o Gravity gold recovery estimated at 55% o Cyanide consumption 0.62 kgpt; o Lime 2.29 kgpt o Oxygen Consumption 60 gpt per hour o Bond Ball mill work index average 18.1 kWh/t o Bond Abrasion Index average 0.1522
Further work	 The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).  Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	 Further work in 2015-16 will plan to extend the indicated resource deeper by infill drilling around Drake, Pegasus, Rubicon and Hornet. Advanced exploration work will also attempt to upgrade an area at depth spanning 1km of strike to an inferred resource. The continuation of the K2 trend will continue to be drill tested at depth (Figures 1 and 2 below) below Polaris and along strike of Arcas and the Link Zone.  Further work at Raleigh Corridor is not planned at this stage.  Work at Falcon is continuing, with understanding the stratigraphic sequence and modelling. Further drilling is planned for 2016.  Further work at Ambition will consist of targeting shoot controls on current mineralisation.
	Figure 1. Drill hole Plan Hornet Pegasus Rubicon Drake	Figure 2. Long Section
		Drake Pegasus Link Rubicon
			Inferred Resource Development 500m

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Figure 1. Drill hole Plan Figure 2. Long Section
Drake Drake Pegasus Link Rubicon
Pegasus
Rubicon
Inferred Resource 500m
Development
Hornet
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