REGIS RESOURCES LIMITED

Quarterly Report to 31 December 2014

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HIGHLIGHTS

GOLD PRODUCTION

Gold production of 80,065 ounces at a pre-royalty cash cost of $782 per ounce for the quarter.
Group gold production and costs remain on track to meet guidance with a strong first half of 168,883 ounces at a pre royalty cost of $763 per ounce.

MOOLART WELL OPERATIONS

Gold production of 25,344 ounces for the quarter (Sep 14 qtr: 32,686 oz).
Cash cost of production A$615 per ounce prior to royalties (Sep 14 qtr: A$477/oz).

GARDEN WELL OPERATIONS

Gold production of 27,237 ounces for the quarter (Sep 14 qtr: 29,816 oz).
Cash cost of production continued to trend down with costs for the quarter of A$963 per ounce prior to royalties (Sep 14 qtr: A$1,062/oz) down 9% from the previous quarter.
Milling recovery improved from 78% in the September 2014 quarter to 83% in the December 2014 quarter with further improvement expected in the March 2015 quarter.

ROSEMONT GOLD PROJECT

Record gold production of 27,484 ounces for the quarter (Sep 14 qtr: 26,316 oz).
Cash cost of production A$755 per ounce prior to royalties (Sep 14 qtr: A$719/oz).
Continued improvement in mill throughput and recoveries during the quarter.

EXPLORATION

Infill and extensional RC drilling at Erlistoun deposit continue to produce encouraging results including:

19 metres @ 1.76 g/t gold from 39 to 58m 2 metres @ 15.70 g/t gold from 53 to 55m 11 metres @ 3.48 g/t gold from 55 to 66m 7 metres @ 5.35 g/t gold from 73 to 80m 4 metres @ 11.20 g/t gold from 76 to 80m 3 metres @ 15.50 g/t gold from 61 to 64m 3 metres @ 19.70 g/t gold from 72 to 75m 4 metres @ 9.67 g/t gold from 88 to 92m 3 metres @ 10.50 g/t gold from 54 to 57m 6 metres @ 6.38 g/t gold from 73 to 79m 4 metres @ 7.01 g/t gold from 112 to 116m 9 metres @ 3.45 g/t gold from 63 to 72m

CORPORATE

Record gold sales of 82,898 ounces at A$1,425 per ounce (Sep 14: 81,923 oz at A$1,424/oz).
Cash flow from operations for the quarter was $43.5 million (Sep 14: $27.4m).
Repayment in December 2014 of $20 million of the Company’s $40 million corporate debt.
Cash and gold bullion holding at 31 December 2014 was $29.7 million (Sep 14: $26.2m).

Page 1

Quarterly Report to 31 December 2014

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MOOLART WELL OPERATIONS

Moolart Well Gold Mine operating results for the December 2014 quarter were as follows:

	Dec 2014	Sep 2014	Jun 2014
Ore mined (tonnes)	695,443	757,004	676,203
Oremilled (tonnes)	711,647	740,803	710,701
Head grade (g/t)	1.19	1.47	1.25
Recovery (%)	93	94	93
Gold production (ounces)	25,344	32,686	26,469
Cashcost perounce (A$/oz)–preroyalties	A$615	A$477	A$564
Cashcost perounce (A$/oz)– incl royalties	A$683	A$529	A$625

Production at Moolart Well decreased during the quarter due to the decline in grade of the ore treated. The milled grade for the quarter of 1.19g/t was reflective of the ore scheduled to be mined and took the grade to 1.33g/t for the half year, in line with the long term grade of the project to date. Gold production for the half year ended 31 December 2014 was 58,030 ounces at a pre-royalty cash cost of $538 per ounce.

During the quarter 313,000 bcm of ore and 1,090,000 bcm of waste were mined from the Moolart Well open pits for a total mining movement of 1.40 million bcm. Of the total material mined, 975,000 bcm was mined from laterite pits and 428,000 bcm was mined from the Stirling oxide deposit.

GARDEN WELL OPERATIONS

Operating results at the Garden Well Gold Mine for December 2014 quarter were as follows:

	Dec 2014	Sep 2014	Jun 2014
Ore mined (tonnes)	1,695,446	1,682,573	1,401,407
Ore milled (tonnes)	1,088,000	1,232,275	1,045,747
Head grade (g/t)	0.94	0.96	0.96
Recovery (%)	83	78	89
Gold production (ounces)	27,237	29,816	28,497
Cashcost perounce (A$/oz)–preroyalties	963	1,062	1,299
Cash cost per ounce (A$/oz)–incl royalties	1,027	1,120	1,352

Operations at Garden Well for the December 2014 quarter produced 27,237 ounces of gold at a preroyalty cash cost of $963 per ounce. Despite the reduced production during the quarter, costs were down 9% on the previous quarter continuing the downward trend as cost saving initiatives implemented during the last 6 months have a positive effect on the operation. Gold production for the half year ended 31 December 2014 was 57,053 ounces at a pre-royalty cash cost of $1,015 per ounce.

A total of 2.71 million bcm of material was mined from the Garden Well Pit during the quarter.

As previously reported to the ASX, mill throughput during the quarter fell to an annualised rate of 4.3mtpa (Sep 14 qtr: 4.9mtpa) primarily as a consequence of a moderate hardening of the ore feed, lower mill availability and lower grinding performance from a change in mill liner design.

The Company has initiated plans to increase throughput to >5mtpa. In the short term, a hire cone crusher has been installed during January 2015 to increase tertiary crushing capacity. This will be assessed in conjunction with a broader review of crushing and grinding bottlenecks to evaluate the

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Quarterly Report to 31 December 2014

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optimal longer term modifications to improve mill throughput. This is expected, most likely, to result in the addition of crushing capacity at a modest capital cost over the next several quarters.

Milled grade of 0.94g/t was reflective of the necessity to isolate from the milling circuit the problematic metallurgical ore from stage 4 of the pit (refer Sept 14 quarterly report). This ore tended to be some of the softer and higher grade ore for the quarter so impacted on the milled grade and throughput. It is expected that the zone of this ore will have been mined out during the next quarter.

Milling recovery improved from 78% in the September 2014 quarter to 83% in the December 2014 quarter as the impact of the metallurgically difficult ore reduced. Recovery is expected to continue to improve further in the March 2015 quarter.

ROSEMONT OPERATIONS

Operating results at the Rosemont Gold Mine for the December 2014 quarter were as follows:

	Dec 2014	Sep 2014	Jun 2014
Oremined (tonnes)	568,733	532,422	337,531
Ore milled (tonnes)	586,661	534,919	419,009
Head grade (g/t)	1.58	1.69	0.90
Recovery (%)	92	91	89
Gold production (ounces)	27,484	26,316	10,781
Cashcost perounce (A$/oz)–preroyalties	755	719	1,342
Cash cost per ounce (A$/oz)–incl royalties	819	777	1,395

The Rosemont Gold Mine completed a strong quarter of operations producing a record 27,484 ounces of gold at a pre-royalty cash cost of production of A$755 per ounce. Throughput continued to perform strongly at a record annualised rate of 2.3 million tonnes per annum. Cash costs were 5% higher in the December 2014 quarter compared to the prior quarter due predominately to the grade of 1.58g/t for the quarter being 6% lower than the record grade of 1.69g/t in the September 2014 quarter.

A total of 1.85 million bcm of material was mined from the Rosemont Main Pit during the quarter with 0.85 million bcm at the Rosemont North Pit for total material movement of 2.7 million bcm.

Page 3

Quarterly Report to 31 December 2014

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EXPLORATION

Duketon Gold Project

Exploration drilling during the December 2014 quarter totalled 10,954 metres of RC drilling, focussing on Moolart Well, Erlistoun and regional projects.

Moolart Well

Moolart Well has significant Inferred Oxide Gold Resources north of the Stirling and Lancaster open pits.

Drilling at Moolart Well during the quarter continued to focus on RC resource infill drilling on the Wellington Oxide Resource to reduce the drill hole spacing from 50m x 50m to a 25m x 25m pattern spacing across the inferred resource. This drilling is part of Regis’ ongoing mining inventory replacement strategy and will be incorporated in mining studies for Wellington in due course. A total of 10 RC holes were drilled for 1,274 metres. Significant gold assay results from this infill drilling programme include:

Hole No	Northing (mN)	Easting (mE)	Hole Depth (m)	From (m)	To (m)	Interval (m)	Gold g/t
RRLMWRC1163	6945425	435552	207	111	115	4	3.53
RRLMWRC1164	6945474	435523	129	97	99	2	8.55
RRLMWRC1168	6945425	435528	87	45	50	5	1.93
RRLMWRC1169	6945425	435552	99	53	55	2	4.76

All coordinates are AGD 84. All holes were drilled at -60° to 270° All Intercepts calculated using a 0.5g/t lower cut, no upper cut, maximum 2m internal dilution. All assays determined on 1m split samples by fire assay.

This work is continuing in the March 2015 quarter and will form the basis of resource estimations and pit optimisations in due course.

Erlistoun

The Erlistoun gold resource is currently defined by a 40m x 40m and 40m x 20m drill pattern. Gold mineralisation is hosted in narrow quartz veins which dip shallowly to the west at ~40°. Zones of supergene mineralisation occur in discrete pods where the gold mineralised structure comes into contact with the weathering horizons. RC infill resource drilling during the quarter continued to reduce the drill spacing to 40m x 20m and 20m x 20m and better define the discrete zones of high grade gold mineralisation. A total of 67 RC holes (RRLERLRC282-348) were drilled during the quarter for 6,917 metres. Highlights from the drilling results received for holes 266-348 are shown below.

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Quarterly Report to 31 December 2014

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Hole No	Northing (mN)	Easting (mE)	Hole Depth (m)	From (m)	To (m)	Interval (m)	Gold g/t
RRLERLRC266	6905264	434798	105	39	58	19	1.76
RRLERLRC269	6905219	434790	120	53	55	2	15.70
RRLERLRC274	6905182	434779	120	55	66	11	3.48
RRLERLRC274	6905182	434779	120	73	80	7	5.35
RRLERLRC275	6905181	434738	140	76	80	4	11.24
RRLERLRC276	6905158	434823	80	61	64	3	15.47
RRLERLRC287	6906220	434880	115	72	75	3	19.65
RRLERLRC291	6906060	434780	125	88	92	4	9.67
RRLERLRC292	6906040	434897	85	54	57	3	10.47
RRLERLRC304	6905757	434760	129	73	79	6	6.38
RRLERLRC316	6905479	434700	159	112	116	4	7.01
RRLERLRC321	6904958	434762	93	58	66	8	3.53
RRLERLRC323	6904938	434750	99	63	72	9	3.45

All coordinates are AGD 84. All holes were drilled at -60° to 090°

All Intercepts calculated using a 0.5g/t lower cut, no upper cut, maximum 2m internal dilution. All assays determined on 1m split samples by fire assay

As reported in the September 2014 quarterly report, results received from this programme of drilling are encouraging and will be used to refine mineralised boundaries and define high grade pods between old holes drilled previously on a 40m x 40m grid. Anomalous results on the acquired mining lease contiguous to the south of the deposit indicate mineralisation continues along strike at least 200 metres south of the current resource and is still open to the south. To date 34 holes have tested the mineralised structure on this lease and RC drilling will continue in the March 2015 quarter to follow up these results.

Dogbolter

The Dogbolter deposit (Inferred Resource of 0.9MT at 2.91g/t Au for 87,000 ounces) is located 12 kilometres south of the Moolart Well processing facility and is currently defined by a 40m x 40m to 40m x 20m drill pattern. Gold mineralisation dips shallowly to the east at 30-40[o] and is associated with a diorite intrusion close to an ultramafic contact. Small high grade pods are associated with the intersection of mineralised structures and weathering horizons.

A programme of RC drilling commenced during the quarter to target the high grade gold mineralisation in the shallow oxide zone. This programme of drilling is part of the Company’s strategy to develop the numerous satellite deposits across the Duketon tenement package to provide incremental feed to the three operating mills in the district.

A total of 20 RC holes (RRLDBRC007-026) were drilled during the quarter for 1,875 metres. Assay results for holes RRLDBRC007-013 were received with the significant results shown below.

Hole No	Northing (mN)	Easting (mE)	Hole Depth (m)	From (m)	To (m)	Interval (m)	Gold g/t
RRLDBRC009	6933590	434995	123	8	10	2	10.99
RRLDBRC010	6933547	434990	63	26	27	1	15.36
RRLDBRC011	6933556	435025	81	48	53	5	2.89

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Quarterly Report to 31 December 2014

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All coordinates are AGD 84. All holes were drilled at -60° to 256° All Intercepts calculated using a 0.5g/t lower cut, no upper cut, maximum 2m internal dilution. All assays determined on 1m split samples by fire assay

Further drilling will be conducted during the March 2015 quarter on the Dogbolter deposit with the aim of adding future mining inventory to the Moolart Well processing facility.

CORPORATE

Gold Sales & Hedging

The Company had a hedging position at the end of the quarter of 268,154 ounces, being 168,751 ounces of flat forward contracts with a delivery price of A$1,433 per ounce and 99,403 ounces of spot deferred contracts with a price of A$1,422 per ounce. During the December 2014 quarter, Regis sold a record 82,898 ounces of gold at an average price of A$1,425 per ounce (Sep 14 qtr: 81,923 ounces at A$1,424 per ounce).

Cash Position

As at 31 December 2014 Regis had $29.7 million in cash and bullion holdings (Sep 2014: $26.2m). Operating cash flow from the Duketon Gold Project was $43.5 million for the December 2014 quarter (Sep 2014: $27.4 million). As previously announced to the ASX cash flow from operations during the quarter facilitated the repayment in December 2014 of $20 million of the Company’s $40 million corporate debt. The board will continue to monitor cash flow over the coming quarters with a view to further repayment of the remaining $20 million debt outstanding. This is considered prudent balance sheet management which should facilitate a return to dividend payment in due course.

A copy of the Company’s Mining Exploration Entity Quarterly (Appendix 5B) report in accordance with Listing Rule 5.3 is attached.

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Quarterly Report to 31 December 2014

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COMPETENT PERSON STATEMENT

The information in this report that relates to exploration results is based on and fairly represents information and supporting documentation that has been compiled by Mr Jens Balkau who is a member of the Australian Institute of Mining and Metallurgy. Mr Balkau 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 the Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Balkau is a full time employee of Regis Resources Ltd 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

This ASX 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.

Forward-looking statements, including projections, forecasts and estimates, are provided as a general guide only and should not be relied on as an indication or guarantee of future performance and involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Regis Resources Ltd. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward looking statements or other forecast.

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Quarterly Report to 31 December 2014

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CORPORATE DIRECTORY

Regis Resources Ltd ( ACN 009 174 761)

Registered Office

First Floor, 1 Alvan Street Subiaco, WA Australia 6008 Tel +618 9442 2200 Fax +618 9442 2290

Website www.regisresources.com Email [email protected]

Directors

Mr Mark Clark (Managing Director) Mr Nick Giorgetta (Non Executive Chairman) Mr Mark Okeby (Non Executive Director) Mr Ross Kestel (Non Executive Director) Mr Frank Fergusson (Non Executive Director) Mr Glyn Evans (Non Executive Director)

Company Secretary and CFO

Mr Kim Massey

Share Registry

Computershare Ltd GPO Box D182 Perth WA 6840 Shareholder Enquiries: 1300 557 010 (local) +613 9415 4000 (international)

ASX Listed Securities (as at 31 December 2014)

Security	Terms	Code		No. Quoted
OrdinaryShares		RRL		499,781,595

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Quarterly Report to 31 December 2014

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Appendix A

Significant Gold Assay Results: RC Resource Drilling at Erlistoun.

Hole No	Northing (mN)	Easting (mE)	Hole Depth (m)	From (m)	To (m)	Interval (m)	Gold g/t
RRLERLRC266	6905264	434798	105	39	58	19	1.76
RRLERLRC267	6905264	434759	120	71	82	11	2.24
RRLERLRC267	6905264	434759	120	100	102	2	12.23
RRLERLRC268	6905220	434808	75	38	41	3	3.83
RRLERLRC269	6905219	434790	120	53	55	2	15.70
RRLERLRC269	6905219	434790	120	60	64	4	3.78
RRLERLRC270	6905221	434764	125	69	77	8	2.84
RRLERLRC270	6905221	434764	125	91	95	4	4.68
RRLERLRC271	6905199	434817	100	30	33	3	6.96
RRLERLRC274	6905182	434779	120	55	66	11	3.48
RRLERLRC274	6905182	434779	120	73	80	7	5.35
RRLERLRC275	6905181	434738	140	76	80	4	11.24
RRLERLRC275	6905181	434738	140	83	90	7	2.26
RRLERLRC276	6905158	434823	80	53	56	3	2.88
RRLERLRC276	6905158	434823	80	61	64	3	15.47
RRLERLRC278	6905097	434801	90	37	41	4	2.53
RRLERLRC278	6905097	434801	90	61	64	3	3.25
RRLERLRC279	6905099	434758	110	70	76	6	2.02
RRLERLRC280	6905065	434794	80	33	35	2	6.84
RRLERLRC286	6906220	434920	90	61	65	4	4.18
RRLERLRC287	6906220	434880	115	72	75	3	19.65
RRLERLRC289	6906080	434976	55	31	33	2	4.12
RRLERLRC291	6906060	434780	125	88	92	4	9.67
RRLERLRC292	6906040	434897	85	54	57	3	10.47
RRLERLRC296	6906160	434911	85	60	63	3	5.51
RRLERLRC297	6906157	434891	90	63	68	5	3.39
RRLERLRC298	6906136	434859	110	68	76	8	2.95
RRLERLRC300	6906121	434939	70	45	51	6	3.69
RRLERLRC301	6906116	434843	116	106	108	2	7.03
RRLERLRC302	6906042	434766	123	97	101	4	4.91
RRLERLRC303	6906019	434898	75	55	57	2	4.67
RRLERLRC304	6905757	434760	129	73	79	6	6.38
RRLERLRC305	6905718	434790	105	83	87	4	2.02
RRLERLRC307	6905680	434854	63	33	34	1	9.52
RRLERLRC313	6905521	434738	129	86	91	5	2.11
RRLERLRC315	6905479	434727	129	88	102	14	1.28
RRLERLRC316	6905479	434700	159	112	116	4	7.01
RRLERLRC316	6905479	434700	159	145	147	2	4.91
RRLERLRC319	6905098	434777	110	52	54	2	4.47
RRLERLRC319	6905098	434777	110	63	66	3	3.04
RRLERLRC321	6904958	434762	93	58	66	8	3.53

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Quarterly Report to 31 December 2014

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Hole No	Northing (mN)	Easting (mE)	Hole Depth (m)	From (m)	To (m)	Interval (m)	Gold g/t
RRLERLRC323	6904938	434750	99	63	72	9	3.45
RRLERLRC324	6904938	434738	99	57	71	14	1.86
RRLERLRC325	6904916	434781	87	57	60	3	5.83
RRLERLRC327	6904919	434741	105	42	45	3	6.36
RRLERLRC327	6904919	434741	105	57	65	8	1.20
RRLERLRC328	6904859	434801	86	62	66	4	2.69
RRLERLRC332	6904843	434736	90	51	62	11	1.85
RRLERLRC333	6904842	434717	99	75	78	3	2.80
RRLERLRC334	6904799	434720	110	72	80	8	2.89
RRLERLRC337	6904781	434719	105	77	81	4	2.06
RRLERLRC346	6904866	434702	110	84	89	5	1.956

All coordinates are AGD 84. All holes were drilled at -60° to 090° All Intercepts calculated using a 0.5g/t lower cut, no upper cut, maximum 2m internal dilution. All assays determined on 1m split samples by fire assay

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JORC Code, 2012 Edition – Table 1 report template

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. Moolart Well The drilling completed in the quarter was sampled using Reverse Circulation (RC) holes. Holes were drilled to reduce selected areas to a nominal 25m by 25m grid spacing. Erlistoun The drilling completed in the quarter was sampled using Reverse Circulation (RC) holes. Holes were drilled to reduce drill spacing to a nominal 40m (northing) by 20m (easting) grid spacing across selected areas of the deposit. Dogbolter The drilling completed in the quarter was sampled using Reverse Circulation (RC) holes. Holes were drilled to reduce drill spacing to a nominal 40m (northing) by 20m (easting) grid spacing across selected areas of the deposit.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Moolart Well, Erlistoun and Dogbolter Regis drill hole collar locations were picked up by site-based authorized surveyors using Trimble RTK GPS. Down hole surveying was measured by the drilling contractors using a digital single shot survey instrument. The surveys were completed every 30m down each drill hole. Certified standards and blanks were inserted every 25thsample to assess the accuracy and methodology of the external laboratories, and field duplicates were inserted every 20thsample to assess the repeatability and variability of the gold mineralisation. Laboratory duplicates were also completed approximately every 20thsample to assess the precision of the laboratory as well as the repeatability and variability of the gold mineralisation. Results of the QAQC sampling were considered acceptable for an Archaean gold deposit.

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.
Moolart Well
The drilling completed in the quarter was sampled using Reverse
Circulation (RC) holes. Holes were drilled to reduce selected areas to a
nominal 25m by 25m grid spacing.
Erlistoun
The drilling completed in the quarter was sampled using Reverse
Circulation (RC) holes. Holes were drilled to reduce drill spacing to a
nominal 40m (northing) by 20m (easting) grid spacing across selected
areas of the deposit.
Dogbolter
The drilling completed in the quarter was sampled using Reverse
Circulation (RC) holes. Holes were drilled to reduce drill spacing to a
nominal 40m (northing) by 20m (easting) grid spacing across selected
areas of the deposit.

Include reference to measures taken to ensure sample representivity and
the appropriate calibration of any measurement tools or systems used.
Moolart Well, Erlistoun and Dogbolter
Regis drill hole collar locations were picked up by site-based authorized
surveyors using Trimble RTK GPS. Down hole surveying was measured
by the drilling contractors using a digital single shot survey instrument.
The surveys were completed every 30m down each drill hole.
Certified standards and blanks were inserted every 25thsample to
assess the accuracy and methodology of the external laboratories, and
field duplicates were inserted every 20thsample to assess the
repeatability and variability of the gold mineralisation. Laboratory
duplicates were also completed approximately every 20thsample to
assess the precision of the laboratory as well as the repeatability and
variability of the gold mineralisation. Results of the QAQC sampling were
considered acceptable for an Archaean gold deposit.

Criteria	JORC Code explanation Commentary
	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. Moolart Well, Erlistoun and Dogbolter 1m RC samples were obtained by cone splitter (2.5kg – 3.0kg), each metre sample being utilised for lithology logging and assaying All samples were dried, crushed and pulverised to get 90% passing 75µm, and 50g charge for fire assay analysis with AAS finish at Aurum laboratory.
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). Moolart Well RC drilling accounts for all drilling completed in the quarter with hole depths ranging from 69m to 207m, with a 139mm diameter face sampling hammer being used. Erlistoun RC drilling accounts for all drilling completed in the quarter with hole depths ranging from 55m to 171m, with 139mm diameter face sampling hammer being used. Dogbolter RC drilling accounts for all drilling completed in the quarter with hole depths ranging from 60m to 140m, with 139mm diameter face sampling hammer being used.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed. Moolart Well, Erlistoun and Dogbolter RC recovery was visually assessed, with recovery being excellent except in some wet intervals which are recorded on logs.
	Measures taken to maximise sample recovery and ensure representative nature of the samples. Moolart Well, Erlistoun and Dogbolter RC samples were visually checked for recovery, moisture and contamination. The drilling contractor utilised a cyclone and cone splitter to provide uniform sample size, and these were cleaned routinely (cleaned at the end of each rod and more frequently in wet conditions). A booster was also used in conjunction with the RC drill rig to ensure dry samples are achieved.

Criteria	JORC Code explanation Commentary
	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. Moolart Well, Erlistoun and Dogbolter Sample recoveries for RC holes are high, especially within the mineralised zones. No significant bias is expected.
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. Moolart Well, Erlistoun and Dogbolter Lithology, colour, alteration, shearing, veining and mineralisation were routinely logged from the RC chips and saved in the database. In addition geological events including BOCO (Base of Complete Oxidation) TOSA (Top of Saprock) and TOFR (Top of Fresh Rock) were recorded for each drill hole. Chips from every one metre interval are placed in chip trays and stored in a designated building at site for future reference.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. Moolart Well, Erlistoun and Dogbolter All logging is qualitative.
	The total length and percentage of the relevant intersections logged. Moolart Well, Erlistoun and Dogbolter All drill holes are logged in full.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. N/A
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. Moolart Well, Erlistoun and Dogbolter The RC drilling utilised a cyclone and cone splitter to consistently produce 2.5kg to 3.0kg dry samples.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique. Moolart Well, Erlistoun and Dogbolter Samples are dried and then pulverised to 90% passing 75µm. This is considered acceptable for an Archaean gold deposit.
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Moolart Well, Erlistoun and Dogbolter Certified standards and blanks were inserted every 25thsample to assess the accuracy and methodology of the external laboratories, and field duplicates were inserted every 20thsample to assess the repeatability and variability of the gold mineralisation. Laboratory duplicates were also completed roughly every 20thsample to assess the

Criteria	JORC Code explanation Commentary
	precision of the laboratory as well as the repeatability and variability of the gold mineralisation.
	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. Moolart Well, Erlistoun and Dogbolter Field RC duplicates were taken at the rig from a second chute on the cone splitter allowing for the duplicate and main sample to be the same size. The results of the field duplicates show an acceptable level of repeatability for an Archaean gold deposit and demonstrated an expected level of nugget effect. Laboratory duplicates (sample preparation split) were also completed roughly every 20thsample to assess the precision of the laboratory as well as the repeatability and variability of the gold mineralisation, with results showing an acceptable level of repeatability for an Archaean gold deposit.
	Whether sample sizes are appropriate to the grain size of the material being sampled. Moolart Well, Erlistoun and Dogbolter Sample sizes (2.5kg to 3kg) at Moolart Well and Erlistoun are considered to be a sufficient size to accurately represent the gold mineralisation based on the mineralisation style (hypogene associated with shearing and supergene enrichment), the width and continuity of the intersections, the sampling methodology, the coarse gold variability and the assay ranges for the gold. Field duplicates have routinely been collected to ensure monitoring of the sub-sampling quality. Acceptable precision and accuracy is noted in the field duplicates and consistent with a coarse gold Archaean gold deposit.
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. Moolart Well, Erlistoun and Dogbolter All gold assaying completed by external laboratories (Aurum laboratories) using 50g charge for fire assay analysis with AAS finish. This technique is industry standard for gold and considered appropriate.
	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. Moolart Well, Erlistoun and Dogbolter No geophysical measurements were routinely made.

Criteria	JORC Code explanation Commentary
	Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. Moolart Well, Erlistoun and Dogbolter Certified Reference Material (CRM or standards) and blanks were inserted every 25thsample to assess the assaying accuracy of the external laboratories. Field duplicates were inserted every 20thsample to assess the repeatability from the field and variability of the gold mineralisation. Laboratory duplicates were also completed approximately every 20thsample to assess the precision of assaying. Evaluation of both the Regis submitted standards, and the internal laboratory quality control data, indicates assaying to be accurate and without significant drift for significant time periods. Excluding obvious errors, the vast majority of the CRM assaying report shows an overall mean bias of less than 5% with no consistent positive or negative bias noted. Duplicate assaying show high levels of correlation and no apparent bias between the duplicate pairs. Field duplicate samples show acceptable levels of correlation and no relative bias. Results of the QAQC sampling were considered acceptable for an Archaean gold deposit. Substantial focus has been given to ensuring sampling procedures met industry best practise to ensure acceptable levels of accuracy and precision were achieved in a coarse gold environment.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. Moolart Well, Erlistoun and Dogbolter No independent personnel have visually inspected the significant intersections. Numerous highly qualified and experienced company personnel from exploration and production positions have visually inspected the significant intersections in RC chips.
	The use of twinned holes. Moolart Well, Erlistoun and Dogbolter No twinned holes drilled in the database reported.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Moolart Well, Erlistoun and Dogbolter All geological and field data is entered into excel spreadsheets with lookup tables and fixed formatting (and protected from modification) thus only allowing data to be entered using the Regis geological code system and sample protocol. Data is then emailed to the Regis database administrator for validation and importation into a SQL database using Datashed.

Criteria	JORC Code explanation Commentary
	Discuss any adjustment to assay data. Moolart Well, Erlistoun and Dogbolter Any samples not assayed (i.e. destroyed in processing, listed not received) have had the assay value converted to a -9 in the database. Any samples assayed below detection limit (0.01 ppm Au) have been converted to 0.005 ppm (half detection limit) in the database.
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. Moolart Well, Erlistoun and Dogbolter Drill hole collar locations were picked up by site-based authorized surveyors using Trimble RTK GPS, calibrated to a base station (expected accuracy of 20mm). Downhole surveying (magnetic azimuth and dip of the drillhole) was measured by the drilling contractors in conjunction with Regis personnel using a digital single shot survey instrument. The surveys were completed every 30m down each drill hole. Magnetic azimuth is converted to AMG azimuth (-2 degrees) in the database, and AMG azimuth is used in the resource estimation.
	Specification of the grid system used. Moolart Well, Erlistoun and Dogbolter The grid system is AMG Zone 51 (AGD 84).
	Quality and adequacy of topographic control. Moolart Well Survey Graphics Pty Ltd were contracted to generate a digital terrain model (DTM) from aerial photography. Site based surveyors routinely complete total site pick ups to refine the DTM. Erlistoun Survey Graphics Pty Ltd were contracted to generate a digital terrain model (DTM) from aerial photography, and existing drill collar information was used for “ground truthing” to refine the DTM. Dogbolter Survey Graphics Pty Ltd were contracted to generate a digital terrain model (DTM) from aerial photography, and existing drill collar information was used for “ground truthing” to refine the DTM.
	Data spacing for reporting of Exploration Results. Moolart Well

Criteria	JORC Code explanation Commentary
Data spacing and distribution	The drilling was designed to infill the nominal drill hole spacing to 25m (northing) by 25m (easting) in select areas. Erlistoun The drilling was designed to infill the nominal drill hole spacing to 40m (northing) by 20m (easting) in select areas. Dogbolter The drilling was designed to infill the nominal drill hole spacing to 40m (northing) by 20m (easting) in select areas.
	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. Moolart Well, Erlistoun and Dogbolter The data spacing and distribution is sufficient to demonstrate spatial and grade continuity of the mineralised domains to support the definition of Inferred and Indicated Mineral resources under the 2012 JORC code.
	Whether sample compositing has been applied. Moolart Well, Erlistoun and Dogbolter No sample compositing has been applied in the field within the mineralised zones.
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. Moolart Well The drilling is orientated west with a -60 degree dip, the mineralised zone dips at 60° to the east. Drilling is therefore roughly perpendicular to both the strike and dip of the mineralisation, as such the intercepts are only slightly greater then true-width. A knowledge of structural logging in nearby open pits indicates that the shear zone controlling mineralisation is approximately perpendicular to the drilling. Erlistoun The drilling is orientated east with a -60 degree dip, which is roughly perpendicular to both the strike and dip of the mineralisaton, therefore ensuring intercepts are close to true width. Erlistoun mineralisation is hosted in narrow quartz veins that dip shallowly to the west at ~ 40°. Dogbolter The drilling is orientated west (256°) with a -60 degree dip, which is roughly perpendicular to both the strike and dip of the mineralisaton, therefore ensuringintercepts are close to truewidth. Dogbolter

Criteria	JORC Code explanation	Commentary
		mineralisation dips shallowly to the east at ~ 30°-40° and is associated
		with a diorite intrusion close to an ultramafic contact.
	If the relationship between the drilling orientation and the orientation of	Moolart Well, Erlistoun and Dogbolter
	key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	Diamond drilling from previous programs confirmed that drilling orientation did not introduce any bias regarding the orientation of the
		mineralised domains.
Sample	The measures taken to ensure sample security.	Moolart Well, Erlistoun and Dogbolter
security		Samples are securely sealed and stored onsite, until delivery to Perth via
		McMahon Burnett Transport, who then also delivers the samples directly
		to the laboratory. Sample submission forms are sent with the samples as
		well as emailed to the laboratory, and are used to keep track of the
		sample batches.
Audits or	The results of any audits or reviews of sampling techniques and data.	Moolart Well, Erlistoun and Dogbolter
reviews		No independent site visits or audits undertaken.

Section 2 Reporting of Exploration Results

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

Criteria	JORC Code explanation	Commentary
Mineral	Type, reference name/number, location and ownership including	Moolart Well
tenement and land tenure status	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 Moolart Well gold mine comprises M38/498, M38/499, M38/500 and M38/943, and area of 31.23 km2(3,122.9 hectares). Moolart Well has been operating as a gold mine since August 2010.
	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.	Normal Western Australian state royalties apply and a further 2% NSR royalty exists to a third party.
		Current registered holders of the tenements are Regis Resources Ltd and
		Duketon Resources Pty Ltd (100% owned by Regis). There are no
		registered Native Title Claims.
		Erlistoun
		The Erlistoun gold deposit comprises M38/407, M38/802 and M38/1258
		an area of 6.28 km2(628 hectares). The Erlistoun ore body is currently in
		the final resource drill out phase to reduce drill spacing to 40m x 20m
		across the entire resource.
		Normal Western Australian state royalties apply and a further 2% NSR
		royalty exists to a third party for M38/407 and M38/1258.
		Current registered holders of the tenements are Regis Resources Ltd and
		Duketon Resources Pty Ltd (100% owned by Regis). There are no
		registered Native Title Claims.
		Dogbolter
		The Dogbolter gold deposit comprises M38/303, M38/499, M38/500 and
		M38/943, and area of 9.90 km2(990 hectares). The Dogbolter ore body
		is currently in the final resource drill out phase to reduce drill spacing to
		40m x 20m across the entire resource.
		Normal Western Australian state royalties apply and a further 2% NSR
		royalty exists to a third party.

Criteria	JORC Code explanation	Commentary
		Current registered holders of the tenements are Regis Resources Ltd and
		Duketon Resources Pty Ltd (100% owned by Regis). There are no
		registered Native Title Claims.
Exploration	Acknowledgment and appraisal of exploration by other parties.	Moolart Well
done by other parties		Moolart Well was discovered in 2001 by Normandy and Newmont. Newmont drilled the deposit until 2005. From 2006 Regis conducted all
		further Resource definition work.
		Erlistoun
		The Erlistoun gold deposit was discovered in the late 1890s and was
		mined between 1899 and 1912. Reported production to 1905 for shallow
		open pits and underground operations was ~5000 ounces. Resource
		definition was undertaken by Johnsons Well Mining and Newmont
		Exploration during the 1990s. Erlistoun has been held by Regis since
		2006. All resource drilling since 2006 has been conducted by Regis
		Resources.
		Dogbolter
		The Dogbolter gold deposit was discovered in the mid 1980s by Ashton
		Gold Mines Pty Ltd. Resource definition was undertaken by Ashton Gold
		Mines, Johnsons Well Mining and Newmont Exploration during the mid
		1980s to the mid 1990s. Dogbolter has been held by Regis since 2006.
		All resource drilling since 2006 has been conducted by Regis Resources.
Geology	Deposit type, geological setting and style of mineralisation.	Moolart Well
		Moolart Well is an Archaean orogenic gold deposit located on the
		eastern limb of the Erlistoun syncline in the Duketon Greenstone Belt.
		Moolart Well is a blind gold deposit with several styles of gold occurring
		within the regolith profile. In transported regolith extending to 20m depth,
		a Laterite Ore Zone is defined by a coherent sub-horizontal gold blanket
		consisting of colluvial ironstone and pisolites in a clayey iron rich matrix.
		The Laterite Zone has an average thickness of 4m, extends over 4km N-
		S and 1km E-W and in some areas extends within 2m of the surface.
		Below the Laterite Zone in the residual regolith is the Oxide Zone
		extendingfrom 20 to 70m vertical depth with a similar lateral extent to

Criteria	JORC Code explanation	Commentary
		the Laterite Zone. Oxide mineralisation consists of numerous primary
		moderate to steep 60° east dipping gold bearing structures preserved in
		the clay rich residual profile and sub-horizontal supergene gold
		developed in the lower part of the profile. Host rocks for the Oxide Zone
		are a sequence of moderate to steep east dipping Archaean mafic rocks,
		including basalt and dolerite sills, and ultramafic flow sequence, intruded
		by late stage high level diorite and quartz-diorite sills and dykes. Primary
		hypogene gold mineralisation exists below the Oxide Zone but has been
		poorly drilled to date.
		Erlistoun
		Erlistoun is an Archaean orogenic gold deposit hosted in narrow quartz
		veins within sheared intermediate to felsic intrusions located on the
		eastern limb of the Erlistoun Syncline. The host units are bounded by a
		granodiorite on the east and adjacent to a dolerite and ultramafic unit to
		the west. Gold mineralisation is hosted in quartz veins and associated
		shear zones with high grade pods of gold mineralisation associated with
		weathering event horizons. Gold mineralisation trends N to NNE over a
		strike length of 1.6 km and dips shallowly at 40° to the west.
		Dogbolter
		Dogbolter is an Archaean orogenic gold deposit associated with a diorite
		intrusive close to an ultramafic contact. Gold mineralisation occurs within
		shear zones and quartz veins at the contact between a mafic-ultramafic
		sequence and an intermediate intrusive unit. Small high grade pods are
		associated with the intersection of mineralised structures and weathering
		event horizons. Gold mineralisation trends N to NNW over a strike length
		of 1 km and dips shallowly at 30-40° to the east.
Drill hole	A summary of all information material to the understanding of the	Moolart Well
Information	exploration results including a tabulation of the following information for all Material drill holes:	Drill hole exploration results and hole locations dip and azimuth are detailed in Appendix A of the December 2014 Quarterly Report.
	easting and northing of the drill hole collar	Erlistoun
	elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar	Drill hole exploration results and hole locations dip and azimuth are detailed in Appendix A of the December 2014 Quarterly Report.

Criteria	JORC Code explanation	Commentary
	dip and azimuth of the hole
	down hole length and interception depth	Dogbolter
	hole length.	Drill hole exploration results and hole locations dip and azimuth are
	If the exclusion of this information is justified on the basis that the	detailed in Appendix A of the December 2014 Quarterly Report.
	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.
Data	In reporting Exploration Results, weighting averaging techniques,	Moolart Well
aggregation methods	maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.	Reported intercepts include a minimum of 0.5 g/t Au value over a minimum distance of 1m with a maximum 2m consecutive internal waste.
	Where aggregate intercepts incorporate short lengths of high grade	No upper cuts have been applied.
	results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such	Erlistoun
	aggregations should be shown in detail.	Reported intercepts include a minimum of 0.5 g/t Au value over a
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	minimum distance of 1m with a maximum 2m consecutive internal waste. No upper cuts have been applied.
		Dogbolter
		Reported intercepts include a minimum of 0.5 g/t Au value over a
		minimum distance of 1m with a maximum 2m consecutive internal waste.
		No upper cuts have been applied.
Relationship	These relationships are particularly important in the reporting of	Moolart Well
between mineralization widths and intercept	Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.	The Moolart Well drill holes were drilled at -60º to the west and the mineralised zone dips at 60° to the east so the intercepts reported are slightly greater than the true mineralised width.
lengths	If it is not known and only the down hole lengths are reported, there	Erlistoun
	should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	The Erlistoun drill holes were drilled at -60° to 090° and the mineralised zone dips at ~40° to 270° so the intercepts reported will approximate true
		mineralised width.
		Dogbolter

Criteria	JORC Code explanation Commentary
	The Dogbolter drill holes were drilled at -60° to 256° and the mineralised zone dips at ~35° to 270° so the intercepts reported will approximate true mineralised width.
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. A significant discovery is not being reported. The results are based on extensional and infill drilling of known deposits.
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. Moolart Well Refer to Table 1 of the December 2014 Quarterly Report. Erlistoun Refer to Table 2 of the December 2014 Quarterly Report. Dogbolter Refer to Table 3 of the December 2014 Quarterly Report.
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. Moolart Well No other material exploration data to report. Erlistoun No other material exploration data to report. Dogbolter No other material exploration data to report.
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). Moolart Well The Moolart Well gold resource extends over a N-S strike length of 4km. The southern half of the deposit is well drilled to the Top of Fresh Rock (TOFR) to define oxide ore. The northern half requires further drilling to fully define oxide gold resources and drilling is ongoing. Hypogene gold mineralisation below TOFR has only been poorly tested. There are plans to start drill testing for hypogene gold mineralisation beneath the oxide zone in early 2015. Erlistoun

Criteria	JORC Code explanation	Commentary
		Further drilling is planned for the first quarter 2015 to define the limits of
		gold mineralisation, which is still open along strike at the southern end of
		the deposit.
		Dogbolter
		Further drilling is planned for the first quarter 2015 to define the limits of
		gold mineralisation, which is still open along strike at the southern end of
		the deposit.
	Diagrams clearly highlighting the areas of possible extensions, including	Work is ongoing to define possible extensions and is considered
	the main geological interpretations and future drilling areas, provided this	commercially sensitive at this time.
	information is not commercially sensitive.

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/2013

Name of entity

ABN 28 009 174 761 Consolidated statement of cash flows

Quarter ended (“current quarter”) 31 December 2014

Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for: (a) exploration & evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (provide details if material) Net Operating Cash Flows	Current quarter $A’000	Year to date (6 months) $A’000
	118,089 (2,369) (263) (74,627) (1,523) - 88 (623) - 78	234,748 (4,362) (1,684) (163,837) (4,070) - 139 (1,442) - 80
	38,850	59,572
Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other (provide details if material): `-` Payments for mine property development `-` Other Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)	- - (4,280) - - - - - (8,272) (2)	(50) - (8,803) - - - - - (26,967) (2)
	(12,554)	(35,822)
	26,296	23,750

See chapter 19 for defined terms.

01/05/2013 Appendix 5B Page 1

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

	Current quarter $A’000	Year to date (6 months) $A’000
1.13 Total operating and investing cash flows (brought forward)	26,296	23,750
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (provide details if material) Net financing cash flows	- - - (20,000) - (3)	38 - - (20,000) - (3)
	(20,003)	(19,965)
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter*	6,293 4,107 -	3,785 6,615 -
	10,400	10,400

Not included in cash at end of quarter is gold on hand of 13,072oz at $1,481/oz for $19.3 million. Gold on hand includes bars on site and lodged with the Perth Mint, valued at expected selling price.

Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities

1.23 Aggregate amount of payments to the parties included in item 1.2 1.24 Aggregate amount of loans to theparties included in item 1.10	1.23 Aggregate amount of payments to the parties included in item 1.2 1.24 Aggregate amount of loans to theparties included in item 1.10	Current quarter $A'000
		146
		-
1.25 Explanation necessaryfor an understandingof the transactions

See chapter 19 for defined terms.

01/05/2013 Appendix 5B Page 2

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Non-cash financing and investing activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

Nil.

2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

Nil.

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1 Loan facilities 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000
	20,000	20,000
	-	-

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development 4.3 Production* 4.4 Administration	$A’000
	1,500
	6,000
	77,000
	600
Total	85,100

Does not include any receipts from operations.

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Current quarter $A’000	Previous quarter $A’000
5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (provide details)	10,400	4,107
	-	-
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	10,400	4,107

** Not included in cash at end of quarter is gold on hand of 13,072oz at $1,481/oz for $19.3 million (Previous quarter: 15,732oz at $1,402/oz for $22.1 million). Gold on hand includes bars on site and lodged with the Perth Mint, valued at expected selling price.

See chapter 19 for defined terms.

01/05/2013 Appendix 5B Page 3

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Changes in interests in mining tenements and petroleum tenements

6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements and petroleum tenements acquired or increased	Tenement reference and location	Nature of interest (note (2))	Interest at beginning of quarter	Interest at end of quarter
	E38/1046 E38/1096 E38/2977	Expired Expired Application Withdrawn	100% 100% 100%	0% 0% 0%
	Nil	Nil	-	-

Supplementary information required under Listing Rule 5.3.3 is provided at the end of this report.

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

	Total number	Numberquoted	Issue price per security (see note 3)	Amount paid up per security (see note 3)
7.1 Preference +securities 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs, redemptions	-	-	-	-
	- -	- -	- -	- -
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs	499,781,595	499,781,595	-	-
	25,000 -	25,000 -	$1.00 -	$1.00 -
7.5 +Convertible debt securities 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted	-	-	-	-
	- -	- -	- -	- -

See chapter 19 for defined terms.

01/05/2013 Appendix 5B Page 4

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

	Total number	Numberquoted	Issue price per security (see note 3)	Amount paid up per security (see note 3)
7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	600,000 575,000 500,000 940,000 1,665,000 1,500,000 650,000 150,000	- - - - - - - -	Exercise price $2.23 $2.75 $3.00 $4.00 $3.50 $1.55 $2.40 $1.55	Expiry date 29 Apr. 2015 8 Nov. 2015 8 Nov. 2015 30 Jun. 2016 31 Jul. 2017 12 Sep. 2017 31 Mar. 2018 14Oct. 2018
	150,000	-	$1.55	14Oct.2018
	-	-	-	-
	250,000 10,000	- -	$3.93 $4.00	2 Feb. 2016 30 Jun.2016
7.11 Debentures (totals only)	-	-
7.12 Unsecured notes(totals only)	-	-

Compliance statement

1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).

2 This statement does give a true and fair view of the matters disclosed.

Sign here: Date: 28 January 2015 (Company Secretary) Print name: Kim Massey

See chapter 19 for defined terms.

01/05/2013 Appendix 5B Page 5

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Notes

1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements and petroleum tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement or petroleum tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .
4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.
5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

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See chapter 19 for defined terms.

01/05/2013 Appendix 5B Page 6