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REGIS RESOURCES LIMITED Interim / Quarterly Report 2016

Jul 21, 2016

65733_rns_2016-07-21_00f733fd-a452-4428-b411-45a5dd51e4ad.pdf

Interim / Quarterly Report

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HIGHLIGHTS

DUKETON OPERATIONS

  • Quarterly gold production of 78,471 ounces (Q3: 75,656 ounces) takes annual gold production to 305,084 ounces, exceeding the upper end of annual FY2016 guidance of 275 – 305koz.
  • Pre-royalty cash cost for the quarter of $776 per ounce and all in sustaining cost of $951 per ounce (Q3: CC $696/oz & AISC $856/oz), both below the lower end of FY16 annual guidance.
  • Annual gold production of 305,084 ounces at a pre-royalty cash cost of $773 per ounce and an all in sustaining cost of $927 per ounce both of which are below the lower end of FY16 annual guidance.
  • Strong cash flow generated from operations of $68.2 million (Q3: $56.5m).
  • Final statutory approvals were received for the Gloster Project with mining on target to commence later in the September 2016 quarter and first gold production in the December 2016 quarter.

FY2017 GUIDANCE

• Regis expects to build on strong FY2016 operations in FY2017 with gold production guidance increasing to 300,000 – 330,000 ounces at an AISC range of $980 – 1,050 per ounce. Total capital expenditure expected to be in the order of $27 million, largely related to the development of new operations Gloster and Erlistoun.

CORPORATE

  • Cash and bullion increased to $123.3 million at 30 June 2016 (Mar 16: $106.7m) after the early repayment of debt ($20.0m) and payment of income tax ($10.2m) during the quarter.
  • Early repayment of the $20 million debt facility leaves Regis debt free, other than normal trade creditors and leasing arrangements.

2016 JORC RESERVE UPDATE

• Group Ore Reserves increased by 6% from 2.01 million ounces to 2.13 Moz after accounting for mining depletion of 330,000 ounces. This is a 445,000 oz (22%) increase net of depletion.

EXPLORATION

• RC drilling at Tooheys Well (2.5km south of Garden Well) has continued to return fresh rock high grade mineralisation. Significant results from drilling during the quarter include:

75 metres @ 2.27 g/t gold from 165 to 240m 32 metres @ 2.02 g/t gold from 181 to 213m
57 metres @ 2.05 g/t gold from 139 to 196m 34 metres @ 1.98 g/t gold from 167 to 201m
46 metres @ 1.59 g/t gold from 261 to 307m 21 metres @ 2.57 g/t gold from 232 to 253m

• RC resource definition drilling at Idaho (2.2km north of Baneygo) returned significant results:

30 metres @ 4.31 g/t gold from 55 to 85m 24 metres @ 2.69 g/t gold from 76 to 100m
27 metres @ 1.29 g/t gold from 95 to 122m 8 metres @ 8.30 g/t gold from 26 to 34m

• Infill and extensional drilling at Russells Find has returned encouraging results including:

15 metres @ 2.48 g/t gold from 58 to 73m 31 metres @ 2.46 g/t gold from 69 to 100m
17 metres @ 4.07 g/t gold from 48 to 65m 18 metres @ 2.11 g/t gold from 50 to 68m

DUKETON OPERATIONS

The Duketon Gold Project produced 78,471 ounces of gold in the June 2016 quarter, an increase of 4% on the previous quarter's production and the highest quarterly production for the financial year. This excellent result takes annual production to 305,084 ounces which exceeded the upper end of annual production guidance range of 275,000 - 305,000 ounces with all in sustaining cost (AISC) of $927 per ounce for the year.

The pre-royalty cash cost for the quarter of $776 per ounce and the AISC of $951 per ounce were both at the lower end of annual cost guidance for FY2016.

DuketonNorthernOperations DuketonSouthernOperations Total
Q4 Q3 Q4 Q3 Q4 Q3
Ore mined (Mbcm ) 0.39 0.39 0.71 0.74 1.10 1.13
Waste mined (Mbcm) 1.75 1.44 4.43 3.93 6.18 5.37
Stripping ratio (w:o) 4.4 3.7 6.3 5.3 5.6 4.7
Ore mined (Mtonnes) 0.76 0.79 1.79 1.83 2.54 2.62
Ore milled (Mtonnes) 0.75 0.73 1.79 1.84 2.53 2.57
Head grade (g/t) 0.94 0.83 1.12 1.09 1.07 1.02
Recovery (%) 91.0 89.8 89.9 90.1 90.2 90.0
Gold production (ounces) 20,563 17,508 57,908 58,148 78,471 75,656
Cash cost (A$/oz) 562 653 852 709 776 696

Operating results for the Regis group for the June 2016 quarter were as follows:

Cash cost inc royalty (A$/oz) 644 715 937 777 860 762 All in Sustaining Cost (A$/oz)1 852 941 986 830 951 856

1 AISC calculated on a per ounce of production basis

Operational statistics have been condensed to report on Duketon Northern Operations (DNO) and Duketon Southern Operations (DSO). This is due to the plan to commence a number of new mining operations at satellite pits at the Duketon project (two in the next six months) in the next several years. DNO will include Moolart Well, Gloster, Dogbolter, Petra and Anchor pits as all processed through the Moolart Well processing plant. DSO will include Garden Well, Rosemont, Erlistoun, Baneygo and the other satellite projects in that region all processed through the Garden Well processing plant (leaching circuit).

DNO produced 20,563 ounces of gold with all in sustaining costs of $852 per ounce, improving on the March 2016 quarter result (Q3: 17,508oz and AISC $941/oz). Gold production at DNO increased 17% from the March 2016 quarter primarily as a result of a 13% higher processed head grade which was reflective of the ore scheduled to be mined during the period and positive reconciliation to the reserve.

Final statutory approvals were received for the Gloster Project with mining scheduled to commence later in the September 2016 quarter and first gold production in the December 2016 quarter as previously reported. During the quarter installation of infrastructure to support the project and haul road construction commenced.

DSO produced 57,908 ounces of gold at an all in sustaining cost of $986 per ounce. Production was consistent with the previous quarter result of 58,148 ounces. All in sustaining costs ($986/oz) were 19% higher than Q3 as significant cutbacks undertaken at both Garden Well (stripping ratio 3.9 v 3.2 in Q3) and Rosemont (stripping ratio 11.8 v 9.6 in Q3) saw the cost of higher mining volumes included in AISC. Mill throughput was 3% lower than Q3 due to the effect of a higher proportion of harder fresh rock being treated at Garden Well. The processed grade for the quarter of 1.12g/t was up 3% on Q3 grade of 1.09g/t as a result of continued strong performance at Rosemont where the mining of scheduled higher grade ore saw the grade rise to 1.70g/t for the quarter (1.50g/t in Q3). Garden Well grade, at 0.84g/t for the quarter was consistent with Q3 grade (0.89g/t).

2017 GUIDANCE

Regis is expecting operations in FY2017 to build on the strong performance of the Duketon project in FY2016 where production of 305,084 ounces at AISC of $927/oz was achieved against guidance of 275 - 305koz at AISC of $970 - 1,070/oz. Gold production for FY2017 is expected to be in the following guidance range:

• Gold production: 300,000 – 330,000 ounces • Cash costs Including royalties: $840 - 910 per ounce

• All in Sustaining Cost $980 – 1,050 per ounce

Forecast 2017 production growth is the result of the positive grade impact from new satellite projects Gloster and Erlistoun and the optimisation to steady state of the open pit operations at Moolart Well, Garden Well and Rosemont.

Growth capital expenditure for 2017 is expected to be in the order of $27 million, largely related to the establishment costs of new operations Gloster and Erlistoun commencing production during the year. Major items included in this capital spend are as follows:

  • Gloster pre-production capital $7 million
  • Erlistoun pre-production capital $2 million
  • Erlistoun pre-production mining $7 million
  • Rosemont expansion mine cutback $7 million

CORPORATE

Cash Position

The Duketon project generated strong operating cash flow of $68.2 million in the June 2016 quarter. In June 2016 the Company repaid the $20 million outstanding debt under the Macquarie Bank financing facility. The early repayment of the loan means Regis is debt free, other than normal trade creditors and leasing arrangements. Despite this $20 million repayment and tax payments of $10.2 million, the Company's cash and bullion balance increased by $16.6 million during the quarter.

Over the course of the financial year the Company has paid $50 million in fully franked dividends and repaid $20 million in debt whilst increasing the Company's cash and bullion position by $58.8 million to $123.3 million as at 30 June 2016.

The following waterfall chart highlights the movement in the Company's cash reserves over the financial year.

Cash & Gold on Hand - FY2016 YTD

Gold Sales & Hedging

During the June 2016 quarter, Regis sold 86,539 ounces of gold at an average price of A$1,646 per ounce (Mar 16 qtr: 69,721 ounces at A$1,638 per ounce). The Company added 90,000 ounces of spot deferred contracts to its hedge book at an average price of $1,761 per ounce in the June 2016 quarter. The gold hedging position at the end of the quarter was 433,770 ounces, being 80,000 ounces of flat forward contracts with a delivery price of A$1,454 per ounce and 353,770 ounces of spot deferred contracts with a price of A$1,581 per ounce. In addition the Company had 15,000 ounces of call options with a strike price of $1,775 per ounce outstanding.

Investment in Capricorn Metals Limited

During the quarter the Company invested a further $450,000 in junior explorer Capricorn Metals Limited (Capricorn) via a placement. Capricorn owns the Karlawinda Gold Project in the Pilbara region of Western Australia. Regis' total investment to date is $1.8 million for an 8.8% stake in the company.

Share Buy Back

The Company has not purchased any of its shares under the share buy-back programme announced in the June 2015 quarter.

RESOURCE AND RESERVE UPDATE

Regis announced its annual resources and reserves update during the quarter. Group Ore Reserves increased by 6% from 2.01 million ounces to 2.13 million ounces after accounting for mining depletion of 330,000 ounces. Group Mineral Resources increased by 5% from 7.63 million ounces to 8.01 million ounces after accounting for mining depletion of 330,000 ounces.

The change in the Group Ore Reserve from March 2015 to March 2016 is as follows:

Total Ore Reserve
Tonnes(Mt) Gold Grade(g/t) Gold Metal(koz)
31 March 2015 59.1 1.06 2,006
Depleted by Mining to 31/3/16 -10.6 0.96 -326
31 March 2015 Net of Depletion 48.5 1.08 1,680
31 March 2016 60.8 1.09 2,125
% Variation net of Depletion 21% 22%

The major contributors to the increase of 445,000 ounces (22%) in Ore Reserves net of depletion were:

  • Maiden Ore Reserves of 226,000 ounces at Gloster and 136,000 ounces at Baneygo;
  • Addition of 81,000 ounces at Rosemont through extensional drilling and improved optimisations; and
  • Addition of 27,000 ounces at Moolart Well through infill drilling.

The Ore Reserves support robust mining schedules and a long mine life at Duketon (Garden Well 7+ years, Rosemont 5+ years, Moolart Well 4+ years). Regis is confident that with the current Ore Reserves and other highly prospective target areas within trucking distance of existing operations, the 10 million tonne per annum processing capacity at Duketon will be fully utilised for many years to come.

Importantly, the Moolart Well mine life has been extended by the nearby Gloster deposit which is currently being developed with a maiden Ore Reserve of 7.0MT at 1.00g/t for 226,000 ounces.

An aggressive exploration programme at the Duketon project continues to be focussed on high potential areas for Mineral Resource expansions with a view to delivering further extensions to the mine life of the current operations. Current targets yielding highly encouraging results include the Tooheys Well deposit south of Garden Well, and extensions to Baneygo (Idaho) and Dogbolter (Coopers).

Group JORC compliant Mineral Resources estimate updated to 261.7 million tonnes at 0.95g/t gold for 8.01 million ounces compared to 249.1 million tonnes at 0.95g/t gold for 7.63 million ounces as at 31 March 2015. This is a 380,000 ounce (5%) increase on the 2015 Resource and a 710,000 ounce (10%) increase on the 2015 Resource depleted for 2016 mining.

EXPLORATION

Duketon Overview

Exploration and resource development drilling programmes continued at the Duketon Gold Project with encouraging results returned from drilling at Tooheys Well, Idaho and Russells Find. In addition, work continued under the terms of the Duketon Gold Exploration Joint Venture with an air core drilling programme commencing at Petra North and infill lag sampling continuing on anomalies generated by last year's lag sampling programme.

Drilling at Duketon during the June 2016 quarter totalled 37,179 metres as shown below:

Prospect AC(metres) DD(metres) RC(metres) Total(metres)
Chert Ridge - - 789 789
Collurabbie 3,496 - - 3,496
Erlistoun 493 - 572 1,065
Gloster - - 3,945 3,945
Idaho - - 4,692 4,692
Moolart Well 611 - 2,616 3,227
Petra North 7,266 - - 7,266
Russells Find - - 2,872 2,872
Tooheys Well - 277 9,550 9,827
Total Metres 11,866 277 25,036 37,179

Significant exploration projects advanced during the quarter at Duketon are outlined below.

Tooheys Well Gold Project

The Tooheys Well gold prospect is located on a granted Mining Lease, 2.5km south of the Garden Well gold mine. Gold mineralisation was previously defined in two north south trending Western and Eastern shear zones 100 metres apart hosted in Banded Iron Formation (BIF), chert and fine grained sediments. RC and diamond drilling in the March 2016 quarter defined high grade gold mineralisation along the Eastern shear zone and this was followed-up with further RC and diamond drilling in the June 2016 quarter.

A programme of 50 RC holes (RRLTWRC095–141, 30, 83) for 9,550 metres and 3 diamond holes (RRLTWRCD048, 66, 92) for 277 metres were drilled in the June 2016 quarter to follow-up gold mineralisation in the Eastern and Western shear zones.

Significant new drilling results received during the quarter include:

o 34m @ 1.98g/t Au from 167m in hole RRLTWRCD021
o 57m @ 2.05g/t Au from 139m RRLTWRCD064
o 32m @ 2.02g/t Au from 181m RRLTWRCD080
o 23m @ 2.06g/t Au from 210m RRLTWRCD087
o 21m @ 2.57g/t Au from 232m RRLTWRC090
o 19m @ 2.47g/t Au from 67m RRLTWRC097
o 75m @ 2.27g/t Au from 165m RRLTWRC094
o 46m @ 1.59g/t Au from 261m RRLTWRC095
o 23m @ 3.13g/t Au from 143m RRLTWRC104
o 19m @ 2.74g/t Au from 116m RRLTWRC110*
o 53m @ 1.72g/t Au from 245m RRLTWRC111*
o 23m @ 2.40g/t Au from 137m RRLTWRC113*
o 26m @ 1.29g/t Au from 76m RRLTWRC123*
o 47m @ 1.18g/t Au from 198m RRLTWRC129*
o 22m @ 1.69g/t Au from 248m RRLTWRC129*
* Not previously announced

Recent drilling continues to demonstrate gold mineralisation continuity both along strike and at depth in the Eastern shear zone which is now mineralised over a strike length in excess of 500 metres from 690900mN to 6909500mN based on a nominal 40m x 20m drilling pattern.

The eastern shear zone mineralisation appears to have steep dip of 80-90° to the east. Host rocks are BIF/chert and shale and weathering extends to 80 to 100 metre vertical depth.

Gold mineralisation is associated with pyrrhotite hosted in Banded Iron Formation ("BIF") which appears to be the dominant lithology at Tooheys Well. The pyrrhotite phase is restricted to BIF's, and has replaced magnetite during hydrothermal alteration.

The eastern shear zone is open to the north and south and is also open down dip. TWRC108 was drilled in the southern end of the Western Lode and returned 19m @ 2.47g/t. Au from 67m downhole (see plan below).

Quarterly Report to 30 June 2016

Tooheys Well plan with geology and significant gold intercepts along the western and eastern mineralised shear zones. Earlier drilling results in grey and June 2016 quarter drilling in gold.

Quarterly Report to 30 June 2016

A cross section of 6909340mN showing the eastern gold mineralised shear zone and new significant results in hole RRLTWRC111.

A cross section of 6909380mN showing the eastern gold mineralised shear zone and new significant results in holes RRLTWRC104 and RRLTWRC107.

In the March 2016 quarter, 40 mineralised samples (including oxidised, transition and fresh samples) were collected from Tooheys Well and submitted to an independent laboratory for preliminary metallurgical test work. Preliminary results indicated the majority of the gold is recoverable using standard CIL gold processing techniques. Further metallurgical test work is planned to determine likely consumption rates of lime and cyanide as well as additional recovery test work spanning the known mineralisation.

Exploration Upside Tooheys Well - Garden Well Corridor

The dominant host for mineralisation at Tooheys Well is a pyrrhotite rich BIF that has been subjected to folding and faulting. A review of the regional magnetic signature for the Tooheys Well - Garden Well corridor suggests there is a strong exploration target to the south of known mineralisation in the magnetic highs seen on an aerial magnetic survey conducted over the target area in 2015 (see figure below).

The currently defined Tooheys Well mineralisation is located on the northern flank of a >1km long magnetic high, the southern half of which is under cover and has seen very little drilling deeper than 50 metres below surface. This is similar to the paucity of earlier drilling in the area of currently defined mineralisation at Tooheys Well prior to the recent successful RC and diamond drilling programmes.

RC drilling has commenced in an effort to define the extent of gold mineralisation along strike to the south of current drilling. Further RC drilling is also planned on the Western Shear.

Drill testing along strike from Tooheys Well to the north where the Eastern Shear is interpreted to join with the gold mineralised shear zones at Chert Ridge approximately 2.5 km away returned encouraging intercepts. TWRC118 returned 15m @1.15g/t Au from 69m downhole, 2m @ 2.73g/t. Au from 167m downhole and 25m @ 1.41g/t. Au from 173m downhole.

Chert Ridge is located on the hanging-wall side of the Garden Well Shear. Gold mineralisation at Chert Ridge is hosted in a steeply east dipping shear and fracture zones in chert, shale and BIF which is identical to the mineralisation settings at Tooheys Well.

Idaho Gold Project

The Idaho Gold Prospect is located less than 1km to the north directly along strike of the Baneygo Project. Gold results in the June 2016 quarter reflect successful infill drilling and testing along strike.

An infill RC drill programme commenced early in the June 2016 quarter to reduce drill spacing to 20m x 20m across the resource where required to better constrain strike limited high grade gold intersections, and test the depth extent of gold mineralisation down to 130 metres below surface.

A total of 49 holes were drilled (RRLIHRC117-165) for 4,692 metres on a 40m x 20m grid over a strike distance of 940 metres from 6908636mN to 6909580mN. To date 165 RC holes (RRLIHRC001-165) have been drilled for 15,310 metres at the Idaho gold prospect. Significant results received in the June 2016 quarter include:

o in hole27m @ 1.29g/t Au from 95m RRLIHRC124
o 24m @ 1.22g/t Au from 115m RRLIHRC130
o 1m @ 21.0g/t Au from 161m RRLIHRC130
o 3m @ 11.13g/t Au from 115m RRLIHRC131
o 24m @ 2.69g/t Au from 76m RRLIHRC135
o 30m @ 4.31g/t Au from 55m RRLIHRC141
o 2m @ 17.66g/t Au from 94m RRLIHRC141
o 22m @ 1.49g/t Au from 47m RRLIHRC146
o 8m @ 8.30g/t Au from 26m RRLIHRC154

These results were incorporated in the updated Baneygo Resource estimation released in July 2016.

The geology at Idaho is similar to Baneygo and Rosemont with gold hosted in a steeply east dipping 345° trending quartz-dolerite unit intruding in an ultramafic sequence. Gold mineralisation is associated with quartz-carbonate-chlorite-sulphide alteration and is restricted to the quartz-dolerite unit which is generally approximately 80m wide. The weathering depth at Idaho is approximately 50- 60m vertical depth.

Russell's Find Gold Project

The Russell's Find deposit is located 6.5 km south of the Garden Well pit.

Gold mineralisation at Russells Find is contained in steep east dipping quartz-carbonate-biotite veins contained in a package of moderate east dipping carbonated ultramafic with a footwall sequence of chert, BIF and fine grained silicified shale.

A programme of infill RC drilling at Russells Find was completed during the quarter to validate and extend the historic gold resource of 0.4Mt @ 3.86 g/t for 55 koz Au using a 1 g/t cut. Drilling commenced in May 2016 and by the end of the quarter, 25 RC holes RRLRFRC067-090 have been completed for 7,403 metres.

Significant new drilling results received during the quarter include:

o 15m @ 2.48g/t Au from 58m RRLRFRC071
o 17m @ 4.07g/t Au from 48m RRLRFRC072
o 18m @ 2.11g/t Au from 50m RRLRFRC074
o 31m @ 2.46g/t Au from 69m RRLRFRC075
o 2m @ 15.00g/t Au from 105m RRLRFRC076
o 8m @ 4.09g/t Au from 116m RRLRFRC078
o 3m @ 9.08g/t Au from 79m RRLRFRC084

The results from the latest drilling programme were used in the updated Mineral Resource estimate released in July 2016 of 2.4Mt @ 1.05 g/t for 81 koz Au using a 0.4 g/t cut.

A cross section of 6905300mN showing the significant result in hole RRLRFRC071.

A cross section of 6905335mN showing significant results in holes RRLRFRC074 and RRLRFRC075.

Gloster Gold Project

The Gloster gold deposit located 26km west of Moolart Well was acquired by Regis in the June 2015 quarter. Gloster was historically mined from 1902-1908 and was extensively drilled from 1984-1996. An updated Resource estimate and maiden Ore Reserve estimate of 226kOz gold was completed at Gloster during the March 2016 quarter.

During the quarter several RC drilling programmes for a total of 67 holes for 3,945 metres were completed. Drilling targeted was waste dump sterilisation, main pit infill and extensional drill programmes to the north and south of known mineralisation.

Gold results received from the extensional drilling programme include:

in hole RRLGLRC189
RRLGLRC272
RRLGLRC279
RRLGLRC283
10m @ 1.63g/t Au from 8m RRLGLRC301
10m @ 3.74g/t Au from 27m7m @ 2.80g/t Au from 37m6m @ 6.97g/t Au from 62m6m @ 2.70g/t Au from 27m

The results will be interpreted to test the potential for economic gold mineralisation east of the current pit design.

Moolart Well Gold Project

An RC drill programme was planned at the southern end of the Stirling pit at Moolart Well looking for extensions of known mineralisation encountered during mining that may extend outside of current pit designs.

Drilling commenced in April 2016 and by the end of the quarter, 27 RC holes RRLMWRC 1317 -1343 have been completed for 2,616 metres and 9 AC holes RRLMWAC3089 - 3097 have been completed for 611 metres.

The programme returned an intercept of 13m @ 3.33g/t from 89 metres in RRLMWRC1333 (6944175mN) including 3m @ 11.14g/t. The intercept is located underneath the Western cutback of Stirling and is associated with a sheared quartz structure on a mafic/intermediate contact in fresh rock. Follow up drilling is planned.

Collurabie Gold Project

The Collurabbie project is located about 10km north of the Duketon greenstone belt and covers almost the entire Deleta Greenstone delta, interpreted to be a fault offset portion of the Duketon Greenstone Belt. The geology succession comprises intercalated basalt and ultramafics flows overlain by felsic volcaniclastics, with interflow sediments (BIF, black shale and chert) and dolerite sills common within the mafic-ultramafic sequences. The regolith profile is complex and bedrock is deeply weathered with a leached saprolite (pallid zone) commonly extending to 40-70 metres and oxidation to 120 metres deep.

A regional style reconnaissance AC drilling programme was completed to test anomalous Au intercepts from historic drilling and soil anomalies. Drilling commenced in April 2016 and by the end of the quarter, 47 AC holes RRLCRAC2114-2160 have been completed for 3,496 metres.

Gold results received from this drilling programme include:

  • o 8m @ 1.43g/t Au from 52m in hole RRLCRAC2122
  • o 4m @ 2.07g/t Au from 32m RRLCRAC2130
  • o 5m @ 2.76g/t Au from 64m RRLCRAC2145

Further work is planned to review the significance of these results and follow up with further drilling if required.

Duketon Gold Exploration Joint Venture

Lag Sampling (E38/2231, 2666, 2699, 2737)

A total of 9,516 (-6+2mm) first pass lag soil samples were collected in 2015 on the Duketon Mining JV tenements to complete the first pass programme. This reconnaissance lag sampling was completed on a 400m x 100m grid, and lag sampling across mineralised trends was completed on a 200m x 50m grid.

Gold and pathfinder element results have been received for all of the samples collected. Contouring of gold results has been completed. Numerous +75ppb Au gold anomalies of interest have been defined that require further investigation and follow up infill lag sampling/mapping is underway.

Petra North

The Petra North project is located immediately adjacent to Regis' Petra project which has a reported JORC 2012 Resource of 44,000 ounces.

A preliminary air core drill programme was designed to test for extensions of the known mineralisation at Petra into the JV tenement. Drilling commenced in April 2016 and by the end of the quarter, 86 AC holes RRLPTRAC466-551 have been completed for 7,403 metres.

Gold results received from this drilling programme include:

o 3m @ 8.78g/t Au from 21m in hole RRLPTRAC472
o 2m @ 7.00g/t Au from 30m RRLPTRAC482
o 4m @ 2.49g/t Au from 46m RRLPTRAC482
o 4m @ 6.00g/t Au from 56m RRLPTRAC516
o 4m @ 2.66g/t Au from 40m RRLPTRAC531

Infill drilling is planned around these encouraging intercepts.

At Petra and Petra North, the basement rocks are dominated by an uninterrupted sequence of felsic and intermediate composition andesites and dacites. The volcanic rocks have been moderately to strongly metamorphosed into variably chloritised quartz sericite schists with occasional pyrite mineralisation. Weathering extends generally to between 50 and 80 metres and occasionally to in excess of 100 metres depth.

Mineralisation at Petra North appears to consist of supergene enriched gold, interpreted to be the result of complex weathering fronts around the hypogene ore.

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 Peter Woodman who is a member of the Australian Institute of Mining and Metallurgy. Mr Woodman 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 Woodman 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.

The information in this report that relates to the Company's Resources and Ore Reserves is extracted from the ASX announcement released on 7 July 2016 entitled "Mineral Resource and Ore Reserve Statement as at 31 March 2016" and for which Competent Person's consents were obtained.

The reports are available to view on the ASX website and on the Company's website at www.regisresources.com.au. The Company confirms it is not aware of any new information or data that materially affects the information included in the original market announcement, and, in the case of estimates of Mineral Resources and Ore Reserves, that all market assumptions and technical assumptions underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

The Competent Person's consents remain in place for subsequent releases by the Company of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent.

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.

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 (Executive Chairman) Mr Paul Thomas (Executive Director) Mr Mark Okeby (Non-Executive Deputy Chairman) Mr Ross Kestel (Non-Executive Director) Mr Glyn Evans (Non-Executive Director) Mr James Mactier (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 30 June 2016)

Security Code No. Quoted
Ordinary Shares RRL 499,854,141

APPENDIX 1

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
Samplingtechniques Nature and quality of sampling (e.g. cut channels, random chips, orspecificspecialisedindustrystandardmeasurementtoolsappropriate to the minerals under investigation, such as down holegamma sondes, or handheld XRF instruments, etc). Theseexamples should not be taken as limiting the broad meaning ofsampling. Gloster:The Gloster gold deposit was sampled using Reverse Circulation (RC) drill holeson a nominal 25m east by 25m north initial grid spacing which were drilled angled-60 degrees to 244 degrees azimuth.
Collurabie:The Collurabie Prospects were sampled using Air Core (RC) drill holes on anominal 100m east by 400m north initial grid spacing, which were predominantlydrilled angled -60 degrees at varying azimuths.
Idaho:The Idaho gold deposit was sampled using Reverse Circulation (RC) drill holes ona nominal 20m east by 20m north initial grid spacing angled -60 degrees to 254degrees.
Petra North:The Petra North Prospect was sampled using Air Core (RC) drill holes with themajority of holes on a nominal 100m east by 160m north initial grid spacing, whichwere drilled angled -60 degrees at 090 azimuth.
Tooheys Well:The Tooheys Well gold prospect was sampled using Reverse Circulation (RC),drill holes on a nominal 20m east spaced holes on 40m north and 80m north initialgrid spacing, which were drilled angled -60 degrees to 270 degrees.
Russell's Find:The Russel's Find gold deposit was sampled using Reverse Circulation (RC) drillholes on a nominal 20m east by 20m north initial grid spacing, which were drilledangled -60 degrees to 254 degrees.

Criteria JORC Code explanation Commentary
Moolart Well:The Moolart Wellgold deposit was sampled using Reverse Circulation (RC) drillholes on a nominal 20m east by 20m north initial grid spacing, which were drilledangled -60 degrees to 270degreesazimuth.
Include reference to measures taken to ensure samplerepresentivity and the appropriate calibration of any measurementtools or systems used. All Projects:Regis drill hole collar locations were picked up by site-based authorised surveyorsusing Trimble RTK GPS. Downhole surveying was measured by usingeitheraReflex EZ-Shot Downhole Survey Instrumentor North Seeking Gyro based toolwhere magnetic host rock would affect azimuth readings. The surveys werecompleted every 30m down each drill hole.
Core is aligned and measured by tape, comparing back to down hole core blocksconsistent with industry practice.
Regis drill hole sampling had certified standards and blanks inserted every 25thsample to assess the accuracy and methodology of the external laboratories, andfield duplicates (RC only) were inserted every 20th sample to assess therepeatability and variability of the gold mineralisation. Laboratory duplicates werealso completed approximately every 15th sample to assess the precision of thelaboratory as well as the repeatability and variability of the gold mineralisation.Results of the QAQC sampling were considered acceptable for an Archaean golddeposit. QAQC results are not recorded for historical drilling, although twin holedrilling has demonstrated the accuracy of the historical assay intercepts at bothBaneygo and Gloster.
Aspects of the determination of mineralisation that are Material tothe Public Report. In cases where 'industry standard' work hasbeen done this would be relatively simple (e.g. 'reverse circulationdrilling was used to obtain 1 m samples from which 3 kg waspulverised to produce a 30 g charge for fire assay'). In other cases,more explanation may be required, such as where there is coarsegold that has inherent sampling problems. Unusual commodities or Gloster, Idaho, Russell's Find, Collurabie, Petra North, Moolart WellandTooheys Well:For the Regis RC and AC drilling 1m samples were obtained by cone splitter (2.5kg–3.0kg) and were utilised for lithology logging and assaying. The drilling sampleswere dried, crushed and pulverised to get 85% passing 75µm and were all FireAssayed using a 50g charge (SGS, Bureau Veritas, Min Analytical and Aurum).
Tooheys Well diamond:Diamond drilling completed to industrystandard using varying sample lengths (0.3to 1.2m) based on geological intervals, which are then dried, crushed and

Criteria JORC Code explanation Commentary
mineralisation types (e.g. submarine nodules) may warrantdisclosure of detailed information. pulverised to get 85% passing 75µm and were all Fire Assayed using a 50g charge(Bureau Veritas).
Drillingtechniques Drill type (e.g. core, reverse circulation, open-hole hammer, rotaryair blast, auger, Bangka, sonic, etc) and details (e.g. core diameter,triple or standard tube, depth of diamond tails, face-sampling bit orother type, whether core is oriented and if so, by what method,etc). Gloster, Idaho, Russell's Find, Collurabie, Petra North, Moolart WellandTooheys Well:RC drilling completed with a 139mm diameter face sampling hammer accounts for100% of the drilling meters in the project area.AC drilling was completed with an89mm diameter AC bladebit.
Tooheys Well diamond:Surface diamond drilling carried out by using both NQ3 or HQ32 (triple tube) andNQ2 or HQ2 (standard tube) techniques.Core is routinely orientated by REFLEX ACT III tool.
Drill samplerecovery Method of recording and assessing core and chip samplerecoveries and results assessed. Gloster, Idaho, Russell's Find, Collurabie, Petra North, Moolart WellandTooheys Well:RC and AC recovery was visually assessed, with recovery being excellent exceptin some wet intervals which are recorded on logs. <1% of the overall mineralisedzones have been recorded as wet.
Tooheys Well diamond:DD core was measured and compared to the drilled intervals, and recorded as apercentage recovery.
Measures taken to maximise sample recovery and ensurerepresentative nature of the samples. Gloster, Idaho, Russell's Find, Collurabie, Petra North, Moolart WellandTooheys Well:RC and AC samples were visually checked for recovery, moisture andcontamination. The drilling contractor utilised a cyclone and splitter to provideuniform sample size, and these were cleaned routinely (cleaned at the end of eachrod and more frequently in wet conditions). A booster was also used in conjunctionwith the RC drill rig to ensure dry samples are achieved.
Tooheys Well diamond:The target zones ranged from oxidised rock near surface where recoveries werelower to highly competent fresh rock, where the DD method provided highrecovery.

Criteria JORC Code explanation Commentary
Whether a relationship exists between sample recovery and gradeand whether sample bias may have occurred due to preferentialloss/gain of fine/coarse material. Gloster, Idaho, Russell's Find, Collurabie, Petra North, Moolart WellandTooheys Well:Sample recoveries for RC and AC drilling are visually estimated to be medium tohigh. No significant bias is expected although no recovery and grade correlationstudy was completed.
Tooheys Well diamond:The DD drill sample recovery in the transitional and fresh rock zones is very high,and no significant bias is expected. Recoveries in the oxidised rock were lower.
Logging Whether core and chip samples have been geologically andgeotechnically logged to a level of detail to support appropriateMineral Resource estimation, mining studiesand metallurgicalstudies. Gloster, Idaho, Russell's Find, Collurabie, Petra North, Moolart WellandTooheys Well:Lithology, alteration, veining, mineralisation and, on some holes, magneticsusceptibility were logged from the RC chips and saved in the database. Chipsfrom every interval are also placed in chip trays and stored in a designated buildingat site for future reference.
Tooheys Well diamond:Lithology, alteration, veining, mineralisation and geotechnical information werelogged from theDD core and saved in the database. Half core from every intervalare also retained in the core trays and stored in a designated building at site forfuture reference.
Whether logging is qualitative or quantitative in nature. Core (orcostean, channel, etc) photography. All logging is qualitative except for magnetic susceptibility and geotechnicalmeasurements. Wet and dry photographs were completed on the core.
The total length and percentage of the relevant intersectionslogged. All drill holes are logged in full.
Subsamplingtechniques If core, whether cut or sawn and whether quarter, half or all coretaken. Tooheys Well diamond:Core was half cut with a diamond core saw with the same half always sampledand the surplus retained in the core trays. Non-competent clay zones are sampledas whole core where necessary due to difficulty in cutting.

Criteria JORC Code explanation Commentary
and samplepreparation If non-core, whether riffled, tube sampled, rotary split, etc andwhether sampled wet or dry. The RCand ACdrilling utilised a cyclone and cone splitter to consistently produce0.5kg to 3.0kg dry samples.
For all sample types, the nature, quality and appropriateness of thesample preparation technique. Samples are dried, crushed to 10mm, and then pulverised to 85% passing 75µm(industry standard practice is assumed for the historical drilling).This isconsidered acceptable for an Archaean gold deposit.
Quality control proceduresadopted for all sub-sampling stages tomaximise representivity of samples. Field duplicates (RC, AC) were inserted every 20th sample to assess therepeatability and variability of the gold mineralisation. Laboratory duplicates werealso completed roughlyevery 15th sample to assess the repeatability andvariability of the gold mineralisation.
Measures taken to ensure that the sampling is representative of thein situ material collected, including for instance results for fieldduplicate/second-half sampling. Field RC duplicates (RC, AC) were taken at the rig from a second chute on thecone splitter allowing for the duplicate and main sample to be the same size andsampling technique. Field duplicates are taken every 20th sample. Laboratoryduplicates(sample preparation split) were also completed roughly every 15thsample.
Field duplicates on core, i.e. other half of cut core, have not been routinelyassayed.
Whether sample sizes are appropriate to the grain size of thematerial being sampled. Sample sizes (0.5kg to 3kg) are considered to be a sufficient size to accuratelyrepresent the gold mineralisation based on the mineralisation style (hypogene)associated with shearing and supergene enrichment), the width and continuity ofthe intersections, the sampling methodology, the coarse gold variability and theassay ranges for the gold.
Field duplicates have routinely been collected to ensure monitoring of the subsampling quality.Acceptable precision and accuracy is noted in the fieldduplicatesalbeit the precision is marginally acceptable and consistent with acoarse gold Archaean gold deposit.

Criteria JORC Code explanation Commentary
Quality ofassay dataandlaboratorytests The nature, quality and appropriateness of the assaying andlaboratory procedures used and whether the technique isconsidered partial or total. Gloster, Idaho, Russell's Find, Collurabie, Petra North, Moolart WellandTooheys Well:All gold assaying was completed by external commercial laboratories (SGS,Bureau Veritas, Min Analytical and Aurum) using either a 40g or 50g charge forfire assay analysis with AAS finish. This technique is industry standard for goldand considered appropriate.
Tooheys Well diamond:All gold assaying will be completed by commercial laboratories (Bureau Veritas)using either a 40g or 50g charge for fire assay analysis with AAS finish. Thistechnique is industry standard for gold and considered appropriate.
For geophysical tools, spectrometers, handheld XRF instruments,etc, the parameters used in determining the analysis includinginstrument make and model, reading times, calibrations factorsapplied and their derivation, etc. Gloster, Idaho, Russell's Find, Collurabie, Petra North and Tooheys Well:Apart from magnetic susceptibility in targeted zones, no other geophysicalmeasurements were routinely made.
Nature of quality control procedures adopted (e.g. standards,blanks, duplicates, external laboratory checks) and whetheracceptable levels of accuracy (ie lack of bias) and precision havebeen established. Certified Reference Material (CRM or standards) and blanks were inserted every25th sample to assess the assaying accuracy of the external laboratories. Fieldduplicates (RC, AC) were inserted every 20th sample to assess the repeatabilityfrom the field and variability of the gold mineralisation. Laboratory duplicates werealso completed approximately every 15th sample to assess theprecision ofassaying.
Evaluation of both the Regis submitted standards, and the internal laboratoryquality control data, indicates assaying to be accurate and without significant driftfor significant time periods. Excluding obvious errors, the vast majority of the CRMassaying report shows an overall mean bias of less than 5% with no consistentpositive or negative bias noted. Duplicate assaying show high levels of correlationand no apparent bias between the duplicate pairs. Field duplicate samplesshowmarginally acceptable levels of correlation and no relative bias.
Results of the QAQC sampling were considered acceptable for an Archaean golddeposit. Substantial focus has been given to ensuring sampling procedures metindustry best practise to ensure acceptable levels of accuracy and precision wereachieved in a coarse gold environment.

Criteria JORC Code explanation Commentary
Verificationof samplingandassaying The verification of significant intersections by either independent oralternative company personnel. No independent personnel have visually inspected the significant intersections inRC chips. Numerous highly qualified and experienced company personnel fromexploration and production positions have visually inspected the significantintersections in RC chips.
The use of twinned holes. Coopers, Idaho, Collurabie andPetra North:No twinning of holes was completed at this stage.
Gloster, Tooheys Well, Moolart Well and Russells Find:The spatial location and assaying accuracy of historical drilling was confirmed withRC and DD twin holes. The Regis RC drilling spatial location and assayingaccuracy was also twinned by Regis DDholes.
Documentation of primary data, data entry procedures, dataverification, data storage (physical and electronic) protocols. All geological and field data is entered into excel spreadsheets with lookup tablesand fixed formatting (and protected from modification) thus only allowing data tobe entered using the Regis geological code system and sample protocol. Data isthen emailed to the Regis database administrator for validation and importationinto a SQL database using Datashed.
Discuss any adjustment to assay data. Any samples not assayed (i.e. destroyed in processing, listed not received) havehad the assay value converted to a -9 in the database. Any samples assayedbelow detection limit (0.01 ppm Au) have been converted to 0.005 ppm (halfdetection limit) in the database.
Location ofdata points Accuracy and quality of surveys used to locate drill holes (collar anddown-hole surveys), trenches, mine workings and other locationsused in Mineral Resource estimation. Regis drill hole collar locations were picked up by site-based authorized surveyorsusing Trimble RTK GPS, calibrated to a base station (expected accuracy of20mm).
Downhole surveying was measured by using either a Reflex EZ-Shot DownholeSurvey Instrument or North Seeking Gyro based tool where magnetic host rockwould affect azimuth readings
The surveys were completed every 30m down each drill hole.
Specification of the grid system used. The grid system is and AMG Zone 51 (AGD 84) for surveying pickups, as well asany modelling at Coopers, Gloster and Tooheys Well. Modelling at Baneygo and

Criteria JORC Code explanation Commentary
Idaho is completed using a local grid, with conversion of digital data from AMG tolocal completed using macros.
Quality and adequacy of topographic control. The topographic surface for all projects were derived from a combination of theprimary drill hole pickups and the pre-existing photogrammetric contouring.
Dataspacing anddistribution Data spacing for reporting of Exploration Results. Gloster:The drilling completed this period reduced the effective spacing to 25 metres (east)by 25 metres (north) to a depth of 100 metres from surface.
Idaho:
The drilling completed this period reduced the effective spacing to 20 metres (east)by 20 metres (north) to a depth of 130 metres from surface.
Collurabie and Petra North:The initial reconnaissance AC drill hole spacing was ranged from 160-400m(northing) by 100m (easting). The drilling depth was generally to blade refusal i.e.top of fresh rock.
Tooheys Well:The drilling completed this period reduced the effective spacing to 20 metres (east)by 40 metres (north) to a depth of 250 metres from surface.
Russell's Findand Moolart Well:Nominal spacing is 25m by 25m E.
Whether the data spacing and distribution is sufficient to establishthe degree of geological and grade continuity appropriate for theMineral Resource and Ore Reserve estimation procedure(s) andclassifications applied. Gloster, Idaho, Russell's Find, Collurabie, Moolart WellandTooheys Well:The data spacing and distribution is sufficient to demonstrate spatial and gradecontinuity of the mineralised domains to support the definition of Inferred andIndicated Mineral Resources under the 2012 JORC codeonce all other modifyingfactors have been addressed.
Petra North:
The data spacing and distribution is sufficient to for a reconnaissance explorationdrilling designed to test for extensions to know mineralisation to the south

Criteria JORC Code explanation Commentary
Whether sample compositing has been applied. Gloster, Idaho, Russell's Find, Moolart Welland Tooheys Well:No sample compositing has been applied in the field within the mineralised zones.
Collurabie, Petra North: 4m compositingwas used in the wider spaced drillprogrammes.
Orientationof data inrelation togeologicalstructure Whether the orientation of sampling achieves unbiased sampling ofpossible structures and the extent to which this is known,considering the deposit type. Drilling is orientated to best suit the mineralisation to be closely perpendicular toboth the strike and dip of the mineralisation. Intercepts are close to true-width inmost cases. See cross section diagrams
If the relationship between the drilling orientation and the orientationof key mineralised structures is considered to have introduced asampling bias, this should be assessed and reported if material. It is not believed that drilling orientation has introduced a sampling bias.
Samplesecurity The measures taken to ensure sample security. Samples are securely sealed and stored onsite, until delivery to Perth via contractfreight Transport, who then deliver the samples directly to the laboratory. Samplesubmission forms are sent with the samples as well as emailed to the laboratory,and are used to keep track of the sample batches.
Audits orreviews The results of any audits or reviews of sampling techniques anddata. Gloster, Idaho, Russell's Find, Collurabie, Petra North and Tooheys WellNo audits on sampling techniques and data have been completed.

Section 2 Reporting of Exploration Results

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

Criteria JORC Code explanation Commentary
MineralType, reference name/number, location and ownership includingtenement andagreements or material issues with third parties such as jointland tenureventures, partnerships, overriding royalties, native title interests, Gloster:The Gloster deposit is located on the recently granted tenement M38/1268, anarea of 905.29ha.
status historical sites, wilderness or national park and environmentalsettings. Normal Western Australian state royalties apply and a further royalty of betweenA$10-$100/troy ounce dependant on the gold price (A$) is payable on a quarterlybasis to a third party.
The security of the tenure held at the time of reporting along with
any known impediments to obtaining a licence to operate in thearea. Current registered holder of the tenement is Regis Resources Limited.There areno registered Native Title Claims.
Moolart Well:The Moolart Welldeposit is located on the granted tenements M38/498-500, anarea of 2267ha.Normal Western Australian state royalties apply.Current registered holder of the tenement isDuketon Resources Pty Ltd (80%)and Regis Resources Limited (20%).There are no registered Native Title Claims.
Idaho: The Idaho deposit is within the same tenement as Baneygo(M38/344).Normal Western Australian state royalties apply and a further 2% NSRroyalty exists to a third party.
Current registered holders of the tenements are Regis Resources Ltd and DuketonResources Pty Ltd (20% owned by Regis, 80% Duketon Resources). There areno registered Native Title Claims.
Collurabie:
The Collurabie project comprises the following tenements.
E38/1939 –20 blocks (actual 6,025.1054ha).Falcon Minerals Limited (20%),Duketon Resources Pty Ltd (80%).Native Title claimant –Wutha (WC1999/010)
E38/2871 –39 blocks (actual 11,903.6296ha). Regis Resources Ltd(100%).Native title claimant –Wutha (WC1999/010)

Criteria JORC Code explanation Commentary
E38/2779 –15 Blocks (actual 4,451.5122ha). Regis Resources Ltd (90%), BruceLegendre (5%), Bernfried Wasse (5%). No native title claimants.
Historical drilling done by BHP, Newcrest Mining Ltd (1989-1991), MIM ExplorationPty Ltd (1992-1998), Johnsons Well Mining NL, Newmont Australia P/L (2003-2004
Normal Western Australian state royalties apply
Petra North:
ThePetraNorthprospectisE38/2737–57blocks(actual13,068.1127ha).Duketon Mining Ltd.Native title claimant–Wutha (WC1999/010)–partial 62.47ha.
Russell's Find:The Russells Find prospect comprises M38/114, an area of 1.8355km2 (183.55ha)and M38/630, an area of 4.8585ha.
Current registered holders of both tenements is Regis Resources Ltd (20%) andDuketon Resources Pty Ltd (80%).There are no registered Native Title Claims.
Normal Western Australian state royalties apply and a further 2% NSR royaltyexists to a third party.
Tooheys Well:
The Tooheys Well prospect comprises M38/1251, an area of 9.109 km2 (910.90hectares).
Normal Western Australian state royalties apply and a further 2% NSR royaltyexists to a third party.
Current registered holders of the tenements are Regis Resources Ltd and DuketonResources Pty Ltd (20% owned by Regis, 80% Duketon Resources). There areno registered Native Title Claims.

Criteria JORC Code explanation Commentary
Explorationdone by otherparties Acknowledgment and appraisal of exploration by other parties. Gloster:Gloster was discovered in 1902, with no modern exploration work completed untilHillmin Gold Mines Pty Ltd and Aurotech NL conducted mapping, RC drilling, DDand RAB in the mid 1980's, culminating in Resource Estimates and feasibilitystudies. Leader Resources NL conducted some RC and DD drilling in 1991 beforeMaiden Gold NL purchase the project in 1994, completing more RC, DD and RABdrilling. In 1995 Johnsons Well Mining acquired the tenements and completedmore RC, DD and RAB drilling to infill and extend the Resource.
Russells Find:Shallow drilling (less than 100m vertical depth) completed by Aurora, Ashton andJohnsons Well Mining. Mining activity was completed by Ashton in the 1990's.
Petra North: Shallow drilling (less than 100m vertical depth) completed byGoldconda 1986 –1988, Johnsons Well Mining NL 1995 –1997.
Idaho:Shallow drilling (less than 100m vertical depth) completed by Aurora, Ashton andJohnsons Well Mining in the 1990's.
Collurabie:Shallowdrilling(lessthan100mverticaldepth)completedbyBHP/MIM/Newmont?? in the 1990's.
Tooheys Well:Minor amounts of drilling by Ashton and Johnsons Well Mining was completedalthough it was mainly shallow and not extensive enough to properly define themineralisation.
Geology Deposit type, geological setting and style of mineralisation. Gloster:Gold mineralisation at Gloster is within a NW-SE trending, east dipping shear zoneand associated with flat to moderately east dipping quartz veins hosted in felsicvolcanics. A 5m transported cover sequence conceals the gold mineralisation andweatheringextends up to 100m depth. Intensive gold leaching has occurred in theuppermost 15m of the weathering profile.

Criteria JORC Code explanation Commentary
Idaho:The geology is similar to Rosemont with gold hosted in a steeply east dipping 345°trending quartz-dolerite unit intruding an ultramafic sequence. Gold mineralisationis associated with quartz-carbonate-chlorite-sulphide alteration and is restricted tothe quartz dolerite unit which is generally approximately 80m wide. Weatheringdepths vary from 20m to 50m vertical depth.
Moolart Well:Gold mineralisation at Moolart Wellis contained in laterite and highly weatheredoxide zone extending from 20m to 70m vertical depth. Oxide mineralisationconsists of numerous primary moderate to steep 60° east dipping gold bearingstructures preserved in the clay rich residual profile and sub-horizontal supergenegold developed in the lower part of the profile. Host rocks for the oxide zone are asequence of moderate to steep east dipping archaean mafic rocks, including basaltand dolerite sills, and ultramafic flow sequence, intruded by late stage high leveldiorite and quartz-diorite sills and dykes.
Russells Find:Gold mineralisation at Russell's Find is contained in steep east dipping quartzcarbonate-biotite veins contained in a package of moderateeast dippingcarbonated ultramafic with a footwall sequence of chert, BIF and fine grainedsilicified shale.
Collurabie:Gold mineralisation targets at Collurabie are typical Archean style and vary fromdolerite hosted quartz vein hosted to mafic/sediment/granite contact targets
Petra North:Gold mineralisation at Petra North Mineralisation at Petra North appears to consistof supergene enriched gold, interpreted to be the result of complex weatheringfronts around the hypogene ore.Tooheys Well:The gold mineralisation is hosted in a vertical dipping North-South trendingBanded Iron Formation (BIF). Gold mineralisation is associated with sulphides(Pyrrhotite) replacing magnetite in the BIF. Weathering depths vary from 20m to70m vertical depth.

Criteria JORC Code explanation Commentary
Drill holeInformation A summary of all information material to the understanding of theexploration results including a tabulation of the following informationfor all Material drill holes: Refer to body of announcement.
easting and northing of the drill hole collar
elevation or RL (Reduced Level –elevation above sea level inmetres) of the drill hole collar
dip and azimuth of the hole
down hole length and interception depth
hole length.
If the exclusion of this information is justified on the basis that theinformation is not Material and this exclusion does not detract fromthe understanding of the report, the Competent Person shouldclearly explain why this is the case.
Dataaggregationmethods In reporting Exploration Results, weighting averaging techniques,maximum and/or minimum grade truncations (e.g. cutting of highgrades) and cut-off grades are usually Material and should bestated. Reported intercepts include a minimum of 0.5 g/t Au value over a minimumdistance of 1m with a maximum 2m consecutive internal waste. No upper cutshave been applied.
Where aggregate intercepts incorporate short lengths of high graderesults and longer lengths of low grade results, theprocedure usedfor such aggregation should be stated and some typical examplesof such aggregations should be shown in detail.
The assumptions used for any reporting of metal equivalent valuesshould be clearly stated.
Relationshipbetweenmineralization These relationships are particularly important in thereporting ofExploration Results. Gloster:

Criteria JORC Code explanation Commentary
widths andintercept If the geometry of the mineralisation with respect to the drill holeangle is known, its nature should be reported. The Gloster drill holes were drilled at -60º to 244° and the mineralised zone ismoderately dipping to the northeast. The intercepts reported are close to truewidth.
lengths If it is not known and only the down hole lengths are reported, thereshould be a clear statement to thiseffect (e.g. 'down hole length,true width not known'). Idaho:The Idaho drill holes were drilled at -60º to 254° and the mineralised zone is subvertical. The intercepts reported are close to true width in some cases, and arenot true width where the mineralisation is steepest.
Collurabie:The Collurabie drill holes were predominantly drilled angled -60 degrees at varyingazimuths as usual for a reconnaissance programmeover various prospects
Tooheys Well:The Tooheys Well drill holes were drilled at -60º to 270° and the mineralised zoneis moderately east dipping. The intercepts reported are close to true width.
Petra North:The holes at which were drilled angled -60 degrees at 090 azimuths. Theintercepts reported are close to true width.
Russell's Find:The holes at Russell's Find were drilled at -60º to 254° and the mineralised zoneis moderately to steeply east dipping. The intercepts reported are close to truewidth.
Moolart Well:The holes at Moolart Wellwere drilled at -60º to 270° and the mineralised zone ismoderately to steeply east dipping. The intercepts reported are close to true width.
Diagrams Appropriate maps and sections (with scales) and tabulations ofintercepts should be included for any significant discovery beingreported These should include, but not be limited to a plan view ofdrill hole collar locations and appropriate sectional views. Refer to the body of the announcement.

Criteria JORC Code explanation Commentary
Balancedreporting Where comprehensive reporting of all Exploration Results is notpracticable, representative reporting of both low and high gradesand/or widths should be practiced to avoid misleading reporting ofExploration Results. A list of all holes drilled during the quarter attached.
Othersubstantiveexploration Other exploration data, if meaningful and material, should bereported including (but not limited to): geological observations;geophysical survey results; geochemical survey results; bulk Idaho, Russells Find, Collurabie, Petra North, Moolart Welland TooheysWell:No other material exploration data to report.
data samples –size and method of treatment; metallurgical test results; Gloster:
bulk density, groundwater, geotechnical and rock characteristics;potential deleterious or contaminating substances. The Gloster diamond holes were also utilised for bulk density measurements.Geotechnicallogging is in progress for determining ground conditions for open pitmining.
Further work The nature and scale of planned further work (e.g. tests for lateralextensions or depth extensions or large-scale step-out drilling). Gloster:It is expected someminor follow-up drilling will be required at Gloster in theSeptember 2016 quarter.
Idaho:A maiden Resource estimate is will be estimated in the September quarter.
Collurabie:A review of last quarters drill programmes will be completed later this year.
Tooheys Well:Drilling will continue in the September 2016 quarter to determine the continuity ofgold mineralisation in the eastern shear zone to the south and north.
Petra North:Small follow up drill programmes are planned to follow up anomalous results
Russell's Find:A maiden Resource estimate is will be estimated in the September quarter.

Criteria JORC Code explanation Commentary
Diagrams clearly highlighting the areas of possible extensions,including the main geological interpretations and future drillingareas, provided this information is not commercially sensitive. See diagrams in main text

APPENDIX 2

Collurabbie Collar Location Intersection >1.0 ppm Au and >1g/t Au*m
Hole ID X Y Z TotalDepth(m) From (m) To (m) Interval (m) Au(ppm)
RRLCRAC2119 422607 7012398 500 88 84 88 4 1.11
RRLCRAC2120 422477 7012404 500 86 64 68 4 1.61
RRLCRAC2122 422480 7012873 500 87 52 60 8 1.43
RRLCRAC2122 422480 7012873 500 87 84 86 2 1.38
RRLCRAC2123 422355 7012873 500 79 60 64 4 1.35
RRLCRAC2127 421569 7006720 540 82 32 36 4 1.88
RRLCRAC2130 421320 7006603 540 80 32 36 4 2.07
RRLCRAC2143 421587 7008622 545 52 48 52 4 1.44
RRLCRAC2145 421563 7008618 539 69 64 69 5 2.76
RRLCRAC2151 429611 7018338 520 76 24 28 4 1.02
Gloster Collar Location Intersection >1.0 ppm Au and >1g/t Au*m
Total Au
Hole ID X Y Z Depth(m) From (m) To (m) Interval (m) (ppm)
RRLGLRC189 408650 6950950 554 81 14 15 1 3.66
18 19 1 1.98
27 37 10 3.74
45 46 1 1.23
RRLGLRC190 408673 6950960 555 99 28 29 1 10.30
33 34 1 1.15
80 81 1 2.62

RRLGLRC191 408696 6950972 555 111 11 13 2 5.08
20 21 1 1.25
27 29 2 1.45
33 36 3 1.94
103 104 1 4.64
RRLGLRC192 408718 6950982 555 111 8 9 1 1.71
71 73 2 4.27
86 87 1 1.18
RRLGLRC197 408675 6951018 555 117 35 37 2 1.71
91 92 1 2.44
RRLGLRC198 408558 6950968 553 63 18 20 2 7.68
27 28 1 1.40
RRLGLRC199 408581 6950920 553 39 29 30 1 1.42
RRLGLRC231 408571 6950947 553 69 0 1 1 64.80
RRLGLRC232 408663 6950986 555 69 29 30 1 1.22
33 34 1 1.20
35 36 1 1.12
RRLGLRC233 408699 6951001 555 93 32 33 1 2.26
90 91 1 23.80
RRLGLRC234 408728 6951013 555 105 56 57 1 1.10
64 66 2 1.76
77 78 1 1.40
RRLGLRC236 408646 6950893 554 57 24 25 1 2.89
RRLGLRC238 408696 6950914 554 99 5 6 1 2.94
12 13 1 1.64
18 20 2 1.46

RRLGLRC253 408599 6949916 548 54 25 26 1 3.41
RRLGLRC254 408632 6949931 547 84 40 41 1 1.31
69 70 1 8.72
RRLGLRC255 408755 6949987 548 78 33 34 1 1.32
44 45 1 2.64
RRLGLRC256 408577 6949963 548 48 15 16 1 1.33
28 29 1 1.82
RRLGLRC257 408610 6949978 548 78 57 58 1 1.65
61 62 1 12.40
RRLGLRC262 408930 6950171 550 54 30 31 1 1.28
RRLGLRC263 408954 6950184 550 66 30 32 2 1.55
54 57 3 3.08
RRLGLRC264 408903 6950185 550 48 19 20 1 1.13
39 41 2 1.50
RRLGLRC266 408951 6950206 550 66 31 34 3 1.43
37 38 1 2.07
52 58 6 3.26
RRLGLRC267 408998 6950230 549 114 57 58 1 1.13
73 74 1 1.30
81 84 3 1.11
RRLGLRC268 408888 6950211 550 48 37 40 3 1.83
RRLGLRC269 408944 6950236 550 63 33 36 3 1.67
RRLGLRC270 408968 6950246 549 96 36 37 1 3.16
41 42 1 1.26
45 46 1 1.05
53 54 1 5.60

93 94 1 2.34
RRLGLRC271 408898 6950238 550 54 14 16 2 1.65
28 29 1 1.38
48 49 1 1.34
RRLGLRC272 408885 6950264 550 54 16 17 1 3.10
30 37 7 2.80
42 43 1 3.02
48 49 1 2.19
RRLGLRC273 408659 6950248 550 30 13 17 4 1.15
RRLGLRC274 408681 6950258 550 42 22 24 2 3.13
28 29 1 1.02
34 36 2 2.17
RRLGLRC275 408703 6950268 550 60 33 34 1 1.70
56 57 1 1.10
RRLGLRC277 408624 6950289 550 36 17 18 1 1.03
31 33 2 2.23
RRLGLRC278 408686 6950393 551 114 64 66 2 3.43
73 74 1 3.07
77 84 7 1.42
88 89 1 1.10
99 101 2 3.71
RRLGLRC279 408714 6950406 551 114 13 14 1 2.45
20 21 1 1.23
62 68 6 6.97
88 89 1 1.14
103 104 1 1.56

113 114 1 2.14
RRLGLRC280 408790 6950440 551 120 75 77 2 1.48
82 83 1 2.59
91 93 2 1.34
118 119 1 1.18
RRLGLRC281 408773 6950655 553 84 54 56 2 3.43
RRLGLRC282 408746 6950667 553 84 0 1 1 1.25
44 48 4 2.04
83 84 1 8.56
RRLGLRC283 408709 6950842 554 54 27 33 6 2.70
48 49 1 1.07
RRLGLRC284 408744 6950858 554 54 27 30 3 1.80
RRLGLRC285 408645 6950840 554 36 33 35 2 1.31
RRLGLRC287 408681 6950856 554 54 24 25 1 1.26
27 28 1 1.99
RRLGLRC288 408700 6950864 554 60 28 31 3 7.07
43 44 1 1.49
47 48 1 1.33
RRLGLRC289 408718 6950872 554 54 46 47 1 1.79
RRLGLRC290 408734 6950880 555 54 25 27 2 3.33
30 36 6 1.68
RRLGLRC291 408752 6950887 555 60 28 29 1 1.13
50 54 4 1.09
RRLGLRC292 408739 6950934 555 54 16 17 1 2.58
24 26 2 1.69
RRLGLRC293 408736 6950963 555 60 52 54 2 3.32

57 58 1 1.04
RRLGLRC295 408556 6950942 553 30 13 14 1 1.02
RRLGLRC296 408583 6950954 554 60 15 16 1 1.65
25 26 1 2.51
32 33 1 1.77
39 40 1 1.14
56 57 1 1.23
RRLGLRC297 408521 6950954 553 36 30 31 1 1.95
RRLGLRC298 408543 6950964 553 36 17 18 1 5.04
RRLGLRC300 408515 6951004 553 42 34 35 1 1.77
RRLGLRC301 408537 6951015 553 54 8 18 10 1.63
49 50 1 2.90
RRLGLRC302 408650 6951011 555 54 34 35 1 1.19
42 43 1 1.46
Idaho Collar Location Intersection >1.0 ppm Au and >1g/t Au*m
Total Au
Hole ID X Y Z Depth From (m) To(m) Interval(m) (ppm)
(m)
RRLIHRC098 431186 6909573 480 48 14 15 1 1.38
RRLIHRC101 431276 6909514 480 126 103 104 1 1.00
RRLIHRC102 431257 6909340 479 54 29 34 5 1.45
41 44 3 1.28
RRLIHRC103 431284 6909346 479 84 47 51 4 1.38
54 57 3 3.29
62 63 1 2.15
72 75 3 2.35

RRLIHRC105 431252 6909303 479 48 24 26 2 1.44
29 30 1 2.17
RRLIHRC107 431350 6909244 480 174 89 90 1 2.66
97 100 3 2.20
109 110 1 1.98
115 116 1 1.14
119 120 1 5.36
124 125 1 2.09
RRLIHRC108 431391 6909194 479 174 128 130 2 2.54
133 134 1 1.90
138 139 1 1.18
141 142 1 1.43
145 148 3 2.51
RRLIHRC110 431362 6909207 479 144 102 103 1 3.29
107 109 2 1.56
118 119 1 2.53
RRLIHRC111 431294 6909169 479 60 45 46 1 1.38
RRLIHRC113 431329 6909178 479 102 8 12 4 1.02
44 45 1 1.86
50 51 1 1.01
54 57 3 1.32
60 61 1 3.24
65 72 7 2.64
RRLIHRC114 431351 6909183 479 120 67 68 1 5.04
73 74 1 1.30
RRLIHRC115 431372 6909188 479 138 99 100 1 1.98

105 107 2 2.88
113 114 1 1.44
RRLIHRC116 431397 6909176 479 192 185 186 1 1.02
RRLIHRC117 431408 6909158 479 186 132 133 1 1.52
136 137 1 1.00
149 150 1 1.03
180 182 2 9.92
RRLIHRC118 431402 6909134 479 174 122 124 2 1.41
149 150 1 2.53
153 154 1 2.94
170 171 1 3.01
RRLIHRC120 431299 6909092 479 60 20 22 2 2.05
RRLIHRC122 431340 6909101 479 96 39 41 2 1.22
45 46 1 1.06
RRLIHRC123 431358 6909106 479 120 52 53 1 1.30
64 65 1 2.66
RRLIHRC124 431378 6909111 479 144 98 106 8 3.03
112 113 1 1.10
116 117 1 1.62
121 122 1 1.02
126 128 2 1.36
RRLIHRC125 431416 6909121 480 186 129 130 1 1.31
141 142 1 1.65
159 162 3 3.09
166 170 4 2.64
RRLIHRC126 431401 6909095 479 162 131 133 2 1.17

141 145 4 4.07
RRLIHRC128 431333 6909033 479 66 9 10 1 1.79
13 14 1 1.34
RRLIHRC129 431369 6909147 479 144 85 86 1 1.06
95 97 2 2.78
RRLIHRC130 431389 6909153 479 162 91 92 1 1.15
93 94 1 1.03
115 137 22 1.30
161 162 1 21.00
RRLIHRC131 431444 6908994 480 156 93 97 4 2.61
117 118 1 32.10
146 147 1 3.26
RRLIHRC132 431361 6908948 480 66 9 16 7 1.24
RRLIHRC133 431382 6908953 480 72 34 35 1 1.57
RRLIHRC134 431400 6908958 480 84 43 48 5 1.10
54 55 1 1.38
RRLIHRC135 431421 6908964 480 120 77 98 21 2.96
108 109 1 1.97
RRLIHRC136 431440 6908969 480 144 74 79 5 2.28
86 87 1 1.03
91 92 1 1.23
99 100 1 1.82
138 139 1 1.53
RRLIHRC137 431456 6908974 480 156 99 101 2 3.38
RRLIHRC138 431373 6908906 479 60 1 2 1 1.43
9 10 1 1.04

13 14 1 2.06
RRLIHRC140 431410 6908919 480 72 17 18 1 1.24
51 53 2 1.55
RRLIHRC141 431430 6908924 480 114 5 6 1 2.92
11 13 2 1.92
55 73 18 6.56
78 81 3 2.25
84 85 1 1.30
94 96 2 17.66
RRLIHRC142 431447 6908930 480 132 21 22 1 1.25
57 64 7 1.58
RRLIHRC143 431467 6908936 480 138 80 81 1 2.58
109 110 1 1.70
RRLIHRC145 431403 6908870 480 54 26 27 1 1.22
RRLIHRC146 431421 6908875 480 78 28 29 1 2.19
37 38 1 2.24
42 43 1 2.21
50 54 4 1.12
57 68 11 2.08
RRLIHRC147 431441 6908881 480 108 32 40 8 2.72
66 67 1 2.40
RRLIHRC149 431270 6909183 479 24 9 12 3 2.33
RRLIHRC150 431278 6909165 479 36 15 16 1 3.48
RRLIHRC154 431315 6909071 479 48 28 34 6 10.81
RRLIHRC156 431321 6909279 479 114 77 78 1 1.39
82 83 1 4.00

868718889197981RRLIHRC15743134069092834791389697111812351261271RRLIHRC15843124569093384793620211RRLIHRC15943124169093014793011121RRLIHRC16043132969091364798444473RRLIHRC161431348690914147910253541576146667183852RRLIHRC1624314206909139480198172173117717811861871RRLIHRC16343139769091164791621371381RRLIHRC16443146869086334813014162RRLIHRC1654315016908642481721214241421Moolart Well Collar LocationIntersection >1.0 ppm Au and >1g/t Au*mTotalHole IDXYZDepthFrom (m)To(m)Interval(m)(m)RRLMWAC309043537869452505266546515RRLMWAC309243537669451755275346471
1.34
1.06
3.68
1.89
2.00
1.10
1.99
1.68
2.40
1.03
1.21
4.16
1.97
1.15
1.04
1.31
1.40
4.00
1.22
2.80
Au(ppm)
1.64
1.14
RRLMWAC3093 435379 6945125 529 53 0 1 1 1.51

38 43 5 3.00
RRLMWAC3095 435392 6945075 529 65 43 44 1 4.40
RRLMWAC3096 435416 6945075 529 78 43 50 7 1.23
RRLMWAC3097 435440 6945075 530 100 52 53 1 1.79
59 61 2 1.17
94 96 2 51.64
RRLMWRC1317 435515 6944800 537 108 52 57 5 1.24
77 78 1 1.64
RRLMWRC1319 435515 6944775 538 102 63 67 4 1.90
97 98 1 1.04
RRLMWRC1320 435521 6944749 538 102 65 67 2 2.35
75 83 8 1.18
RRLMWRC1321 435528 6944749 538 108 68 70 2 3.83
84 85 1 1.27
RRLMWRC1322 435515 6944700 540 90 5 6 1 1.03
59 60 1 2.59
RRLMWRC1324 435514 6944675 542 114 52 56 4 1.89
RRLMWRC1325 435531 6944676 541 114 41 42 1 1.22
RRLMWRC1326 435535 6944625 542 72 35 37 2 1.47
56 57 1 1.75
RRLMWRC1328 435277 6943952 546 180 123 125 2 1.12
RRLMWRC1328 435277 6943952 546 180 173 179 6 1.63
RRLMWRC1329 435301 6943947 546 216 154 155 1 1.08
174 176 2 3.78
180 181 1 2.11
200 203 3 1.08

Quarterly Report to 30 June 2016
----------------------------- ------
RRLMWRC1330 435275 6943997 542 156 151 153 2 1.61
RRLMWRC1331 435301 6944000 542 204 137 138 1 1.66
RRLMWRC1333 435410 6944175 515 108 71 72 1 1.10
90 91 1 6.44
98 101 3 11.15
RRLMWRC1334 435397 6944150 518 114 62 63 1 1.13
RRLMWRC1335 435412 6944050 533 72 34 35 1 1.59
37 38 1 1.29
59 60 1 9.55
RRLMWRC1337 435405 6944424 483 36 27 28 1 1.95
RRLMWRC1338 435422 6944424 483 66 49 50 1 1.76
RRLMWRC1339 435400 6944399 482 42 35 36 1 1.76
RRLMWRC1340 435415 6944400 483 54 14 15 1 1.99
29 30 1 2.24
50 51 1 5.91
RRLMWRC1343 435498 6945099 531 60 6 7 1 38.12
Petra North Collar Location Intersection >1.0 ppm Au and >1g/t Au*m
Total Au
Hole ID X Y Z Depth From (m) To(m) Interval(m) (ppm)
(m)
RRLPTRAC466 426729 6937657 539 86 71 73 2 2.01
RRLPTRAC466 426729 6937657 539 86 82 83 1 2.13
RRLPTRAC467 426665 6937657 538 86 41 42 1 1.78
RRLPTRAC469 426647 6937656 538 92 69 70 1 1.02
RRLPTRAC471 426571 6937658 538 87 53 54 1 2.18
86 87 1 1.78
RRLPTRAC472 426550 6937656 536 85 21 24 3 8.78

RRLPTRAC475 426488 6937658 539 104 90 91 1 1.43
RRLPTRAC476 426470 6937658 539 101 39 40 1 1.63
RRLPTRAC481 426451 6937657 539 89 3 4 1 1.55
RRLPTRAC482 426434 6937657 539 89 30 32 2 7.00
46 50 4 2.49
76 77 1 1.76
RRLPTRAC483 426413 6937657 539 91 39 40 1 1.05
44 45 1 4.48
54 55 1 8.56
RRLPTRAC484 426389 6937657 539 102 95 96 1 1.21
RRLPTRAC488 426748 6937739 539 95 69 70 1 8.08
RRLPTRAC490 426668 6937733 539 89 46 47 1 1.00
RRLPTRAC498 426349 6937737 540 81 69 71 2 1.12
RRLPTRAC516 426423 6938090 542 87 56 60 4 6.00
RRLPTRAC521 426022 6938096 538 83 8 12 4 1.19
RRLPTRAC531 426308 6938260 543 91 40 44 4 2.66
68 72 4 1.72
88 91 3 1.43
RRLPTRAC538 425751 6938261 537 104 16 20 4 1.34
100 104 4 1.37
Russells Find Collar Location Intersection >1.0 ppm Au and >1g/t Au*m
Total Au
Hole ID X Y Z Depth(m) From (m) To(m) Interval(m) (ppm)
RRLRFRC066 438569 6905228 532 108 45 46 1 2.27
54 55 1 1.26
63 67 4 2.84

RRLRFRC067 438590 6905233 531 102 72 75 3 1.18
RRLRFRC069 438631 6905242 531 142 121 122 1 1.63
126 127 1 2.19
137 138 1 5.81
RRLRFRC070 438671 6905246 532 162 90 93 3 1.23
96 98 2 2.78
121 122 1 1.63
123 124 1 1.13
134 137 3 1.57
RRLRFRC071 438629 6905292 530 126 58 72 14 2.59
78 79 1 2.78
85 86 1 1.18
115 118 3 3.18
RRLRFRC072 438618 6905310 530 120 38 39 1 2.25
43 45 2 2.64
48 65 17 4.07
69 72 3 1.33
91 93 2 3.14
98 99 1 1.95
104 105 1 1.17
108 109 1 1.26
RRLRFRC073 438637 6905315 530 132 68 71 3 2.09
74 75 1 3.01
101 102 1 1.04
109 111 2 3.48
123 124 1 3.57

RRLRFRC074 438619 6905333 530 120 51 57 6 2.68
60 68 8 2.50
82 84 2 5.77
105 107 2 4.82
RRLRFRC075 438630 6905334 529 132 69 78 9 5.69
81 87 6 1.54
91 97 6 1.75
118 120 2 7.37
RRLRFRC076 438625 6905375 529 120 80 82 2 3.98
87 88 1 3.03
105 107 2 15.00
RRLRFRC077 438641 6905377 529 138 91 93 2 1.74
96 102 6 2.18
119 120 1 1.81
RRLRFRC078 438677 6905369 529 168 116 124 8 4.09
152 154 2 6.65
RRLRFRC079 438628 6905396 529 126 102 104 2 3.57
RRLRFRC080 438627 6905414 529 120 110 113 3 9.15
RRLRFRC081 438636 6905415 528 126 106 108 2 6.22
RRLRFRC082 438590 6905472 528 84 72 74 2 1.61
RRLRFRC083 438601 6905474 528 90 65 67 2 5.79
RRLRFRC084 438619 6905477 528 102 79 82 3 9.08
RRLRFRC085 438637 6905481 527 120 93 94 1 1.63
RRLRFRC087 438581 6905488 528 72 42 43 1 1.91
RRLRFRC088 438583 6905512 527 66 45 47 2 3.82
RRLRFRC089 438620 6905529 527 96 74 77 3 4.58

RRLRFRC090 438586 6905562 531 78 43 44 1 2.66
Tooheys Well Collar Location Intersection >1.0 ppm Au and >1g/t Au*m
Hole ID X Y Z TotalDepth(m) From (m) To(m) Interval(m) Au(ppm)
RRLTWRC024 437861 6909579 508 203 161 163 2 1.32
169 170 1 1.67
RRLTWRC030 437842 6909219 507 118 77 78 1 1.38
RRLTWRC070 437918 6909258 508 313 218 225 7 1.48
228 229 1 1.07
238 251 13 2.14
255 256 1 1.18
259 261 2 4.12
274 295 21 2.24
RRLTWRC081 437881 6909418 508 274 224 229 5 3.51
241 247 6 1.31
RRLTWRC083 437796 6909458 508 108 91 98 7 4.59
106 107 1 1.09
RRLTWRC087 437901 6909300 508 248 195 197 2 1.73
200 207 7 1.74
212 233 21 2.20
RRLTWRC090 437919 6909336 508 263 143 144 1 1.38
190 191 1 1.31
195 199 4 1.05
203 228 25 1.70
233 234 1 1.10
237 251 14 3.58

RRLTWRC091 437942 6909301 508 303 174 175 1 16.80
210 211 1 1.09
217 218 1 1.16
221 222 1 1.80
237 262 25 2.06
269 276 7 1.35
281 282 1 1.06
285 291 6 1.23
RRLTWRC093 437979 6909178 507 284 205 211 6 1.15
214 215 1 1.79
225 232 7 1.03
242 244 2 1.56
RRLTWRC094 437939 6909220 507 251 165 167 2 1.45
171 174 3 1.34
183 240 57 2.75
RRLTWRC095 437959 6909258 508 330 188 189 1 1.02
262 295 33 1.94
298 300 2 1.30
302 303 1 1.46
311 319 8 2.86
RRLTWRC096 437959 6909334 509 354 295 299 4 1.29
306 307 1 1.42
313 321 8 1.49
RRLTWRC097 437711 6909059 509 105 51 52 1 1.26
68 77 9 4.30
80 84 4 1.07

RRLTWRC099 437836 6909177 507 123 60 61 1 6.24
RRLTWRC100 437878 6909178 507 183 73 75 2 1.14
87 89 2 1.72
98 112 14 2.28
117 118 1 1.02
156 157 1 1.59
RRLTWRC101 437977 6909138 506 308 139 140 1 1.13
161 162 1 1.14
179 181 2 1.46
201 208 7 1.58
212 213 1 1.14
215 216 1 1.06
218 219 1 1.56
251 268 17 1.93
288 290 2 1.30
307 308 1 3.04
RRLTWRC102 437838 6909140 507 98 54 55 1 5.92
RRLTWRC103 437878 6909139 506 143 63 65 2 8.94
82 87 5 1.53
91 98 7 4.02
RRLTWRC104 437869 6909378 509 198 53 63 10 2.01
68 70 2 1.23
115 116 1 1.22
121 123 2 4.30
127 128 1 1.80
131 134 3 1.80

144 166 22 3.25
181 182 1 1.19
RRLTWRC105 437818 6909499 509 153 37 38 1 1.10
57 58 1 1.34
RRLTWRC106 437859 6909499 508 198 58 61 3 2.61
145 150 5 1.33
167 168 1 1.22
174 177 3 2.31
RRLTWRC107 437939 6909379 509 318 49 50 1 1.16
166 167 1 2.31
243 252 9 2.12
256 267 11 2.70
277 280 3 1.38
301 302 1 1.50
RRLTWRC108 437724 6909141 505 133 71 73 2 1.39
86 87 1 1.20
89 90 1 1.03
94 95 1 1.20
RRLTWRC109 437765 6909140 505 143 135 136 1 1.84
RRLTWRC110 437881 6909300 508 218 52 53 1 1.77
64 66 2 2.04
79 82 3 1.38
85 86 1 1.06
96 97 1 1.03
101 109 8 2.04
117 121 4 2.90

124 135 11 3.48
139 140 1 1.56
146 158 12 2.99
161 169 8 2.42
173 176 3 1.48
194 195 1 1.47
RRLTWRC111 437939 6909335 509 328 172 174 2 2.92
223 233 10 1.73
239 240 1 1.20
245 298 53 1.72
311 312 1 3.22
RRLTWRC112 437938 6909418 509 313 119 120 1 1.52
248 251 3 2.90
265 272 7 2.11
277 284 7 2.76
RRLTWRC113 437851 6909418 508 185 46 49 3 1.24
54 55 1 2.82
139 140 1 1.18
143 158 15 3.30
RRLTWRC114 438020 6908858 508 211 83 84 1 1.32
RRLTWRC115 437980 6909218 507 378 79 80 1 1.75
201 207 6 1.15
245 251 6 1.68
260 265 5 3.31
268 269 1 1.26
282 283 1 1.35

Quarterly Report to 30 June 2016

309 318 9 1.58
322 336 14 2.55
339 340 1 1.10
341 342 1 1.00
RRLTWRC116 437899 6909499 509 258 215 217 2 1.20
222 225 3 1.53
249 250 1 4.80
RRLTWRC117 437900 6909579 508 238 87 88 1 1.03
210 221 11 1.80
RRLTWRC118 437902 6909658 508 238 72 75 3 2.10
78 80 2 2.33
167 169 2 2.73
173 185 12 1.82
188 196 8 1.36
204 205 1 4.24
RRLTWRC119 437901 6909455 509 260 51 52 1 2.85
61 67 6 1.45
73 79 6 4.44
125 126 1 7.63
186 196 10 1.71
210 219 9 1.66
RRLTWRC122 437881 6909059 506 120 74 84 10 1.48
RRLTWRC123 437921 6909059 506 150 77 78 1 1.05
80 81 1 1.21
83 84 1 1.51
87 92 5 3.15

95 101 6 1.41
108 109 1 1.00
112 119 7 1.57
123 126 3 3.01
RRLTWRC124 437838 6909099 505 112 45 48 3 3.61
RRLTWRC125 437857 6909099 505 124 60 69 9 1.37
RRLTWRC126 437878 6909099 506 139 51 55 4 1.12
74 75 1 1.22
RRLTWRC127 437899 6909098 506 162 89 90 1 1.71
96 99 3 1.62
115 116 1 1.03
120 121 1 1.90
RRLTWRC128 437919 6909100 506 204 79 80 1 1.29
90 91 1 9.92
114 122 8 1.15
126 127 1 1.02
130 134 4 1.37
139 141 2 1.55
193 194 1 1.02
RRLTWRC129 437939 6909100 506 270 138 139 1 1.01
158 160 2 1.44
200 201 1 2.04
204 210 6 2.62
214 218 4 1.24
221 229 8 2.11
248 270 22 1.69

RRLTWRCD021 437861 6909418 508 223 169 183 14 2.44
186.54 199.46 12.92 2.24
206 207.19 1.19 1.03
208 209 1 1.50
RRLTWRCD048 437861 6909300 508 191 145 145.5 0.5 1.19
169.92 170.21 0.29 4.06
RRLTWRCD058 437800 6909377 507 151 69.5 78 8.5 1.48
81 84 3 1.53
90 92 2 1.15
102 106.85 4.85 1.43
125 126.84 1.84 2.00
137 138 1 1.70
RRLTWRCD064 437895 6909259 508 219 108 110 2 1.30
113 113.73 0.73 1.49
116 117 1 1.22
141 195 54 2.13
RRLTWRCD066 437880 6909218 507 201 82 83 1 2.54
107 108.25 1.25 1.97
113 114 1 1.87
121 121.49 0.49 3.50
126.9 128 1.1 1.07
130.84 139.62 8.78 1.94
166.54 173 6.46 2.21
RRLTWRCD080 437938 6909180 507 280 132 133 1 1.26
150 154 4 2.21
158 165 7 1.58

168 170 2 1.39
181 188 7 1.48
191 213 22 2.41
239 240 1 1.11
257 261 4 2.17
265 269 4 1.16
273 274 1 1.01
RRLTWRCD092 437854 6909259 508 145 53.6 54 0.4 1.82
56 56.5 0.5 2.90
63 71.32 8.32 2.20
78.5 79 0.5 2.98
82 84 2 1.31
87 87.5 0.5 1.36
89 90 1 3.51
96 111.91 15.91 1.92
115 117 2 1.36
119 120 1 1.09