RTG Mining Inc. — Interim / Quarterly Report 2014

Jan 29, 2015

Level 2, 338 Barker Road Subiaco WA 6008 Phone: +61 8 6489 2900 www.rtgmining.com ABN: 70 164 362 850

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NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

DECEMBER 2014 QUARTERLY REPORT

ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE

30 JANUARY 2015

HIGHLIGHTS

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 Stage 1 scoping metallurgical test work delivers high recoveries on
primary ore of 96% Cu and 85% Au with concentrate grades up to 33%
Cu and 20 g/t Au
 Reported Maiden Resource Statement, Total Mineral Resource of 11.4 Mt
at 1.8% Cu, 2.0g/t Au, 10.6 g/t Ag and 44.2% Fe (5.9 g/t Au Equivalent
before recoveries)
 Maiden Resource contains 205,000 t of Cu, 716,000 ozs of Au and 5.02
Mt Fe (containing 2.1m Au Equivalent ounces)
 Maiden Resource Statement defined 2 high grade products for early oxide
mining strategy to minimise upfront capital needs:
- 100,000 t chalcocite supergene copper at 24% Cu and 3.2 g/t Au
(containing 26,000 t of Cu and 7,400 ozs Au)
- 340,000 t at 3.2 g/t Au and 0.2% Cu
(containing 35,000 ozs Au)
 Resource definition drilling continues to highlight significant near surface
oxide gold and high grade supergene copper
 Resource infill drilling continues to validate the geology model and return
spectacular grades
 Highlights of intercepts for the quarter
Hole ID Intercept width Grade (g/t Au & % Cu) Downhole Depth From
MDH-080 28.00m 6.24 g/t Au, 3.60 % Cu 193.9m
MDH-075 39.00m 1.80 g/t Au, 1.98 % Cu 207.0m
MDH-074 30.20m 7.25 g/t Au, 1.61 % Cu 30.8m
MDH-076 11.40m 8.16 g/t Au 0.16 % Cu 36.0m
 Cash and liquid assets as at 31 December of US$5.73M
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* The Gold Equivalent grade was calculated using the following formula. AuEqGrade=(((AuGrade$1,200/31.10348)+(CuGrade$6,100/100)+(FeGrade$80/100)+(AgGrade$16 /31.10348)) / ($1,200/31.10348))

• * The Gold Equivalent Contained Ounces was calculated using the following formula AuEqOunces=(((AuOz$1,200)+(CuMetal$6,100)+(FeMetal$80)+(AgOz*$16)) / $1,200)

OVERVIEW OF QUARTER

The December Quarter for the Mabilo Project was a significant one, with the reporting of a Maiden Resource Statement, materially improving both the understanding of the Project and the confidence in being able to move forward to a successful development. The definition of two high grade oxide mining products materially improves the economics of the Project and with limited need for upfront capital, potentially reduces future dilution from equity issues.

The results to date of Phase 1 scoping metallurgical test work have also allowed a better definition of the end products from the proposed primary plant, producing two high grade and clean products that will enable discussions with offtake parties to advance and create a highly competitive environment for negotiations.

MABILO PROJECT

Background

The Mabilo Project is located in Camarines Norte Province, Eastern Luzon, Philippines. It is comprised of one granted Exploration Permit (EP-014-2013-V) of approximately 498 ha and one Exploration Permit Application (EXPA-000188-V) of 2,820 ha. The Project area is relatively flat and is easily accessed by 15 km of allweather road from the highway at the nearby town of Labo.

Massive magnetite mineralisation containing significant copper and gold grades occurs as replacement bodies together with mineralized garnet skarn and calcsilicate altered rocks within a sequence of hornfelsed sediments of the Eocene aged Tumbaga Formation. The garnet and magnetite skarn rocks were extensively altered by argillic retrograde alteration and weathering prior to being covered by 25-60 metres of post mineralisation Quaternary volcaniclastics (tuff and lahar deposits) of the Mt Labo Volcanic Complex. The deposits are localised along the margins of a diorite stock which does not outcrop within the Exploration Permit.

The primary copper mineralisation (predominantly chalcopyrite with lesser bornite) occurs as disseminated blebs and aggregates interstitial to magnetite grains and in voids within the magnetite. A strong correlation between gold and copper values in the un-weathered magnetite skarn indicates the gold is hosted by the chalcopyrite. A late stage phase of sulphide mineralisation (predominantly pyrite) veins and locally brecciates the magnetite mineralisation.

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Figure 1. RTP ground magnetic image with modelled South, North and East magnetic bodies

In places the more shallow upper parts of the magnetite skarn bodies were weathered to form hematite skarn. Copper in the weathered zone was remobilised forming high-grade supergene copper zones (chalcocite and native copper) at the base of the weathering profile. The gold was more variable, remobilised throughout the hematite skarn and is domained within garnet skarn and calc-silicate altered country rocks in places. The average iron grade of the hematite skarn is consistent with the magnetite skarn.

Sierra discovered the mineralisation in 2012 during a reconnaissance drilling program targeted on magnetic anomalies from a ground magnetic survey conducted by a former explorer. Sierra subsequently conducted a new ground magnetic survey in early 2013, remodeled the data and commenced a second phase of drilling in mid 2013.

Extensive drilling has been undertaken during 2014 with significant extensions in known strike beyond the magnetic model in the North and South directions. A total of 69 drill holes totaling 11,231m were used for the maiden resource estimate (ASX released on the 24[th] November 2014). Drilling is ongoing and ninety diamond drill holes have been completed at the end of the Quarter with further drilling ongoing.

Maiden Resource

Summary tables are attached in Appendix 4.

As per ASX release 24[th] November 2014

• Total Mineral Resource of 11.4Mt at 1.8% Cu, 2.0g/t Au, 10.6g/t Ag and 44.2% Fe

• Total Indicated Resource of 5.9Mt at 2.1% Cu, 2.2g/t Au, 8.4g/t Ag and

49% Fe, containing 121,000t copper and contained gold of 414,000oz at a 0.3g/t Au cut-off grade.

• Total Inferred Resource of 5.5Mt at 1.5% Cu, 1.7g/t Au, 12.9g/t Ag and 39% Fe, containing 84,000t copper and contained gold of 302,000oz at a 0.3g/t Au cut-off grade.

• Indicated Oxide Resource that includes a high grade oxide gold “cap” zone (340,000t @ 3.2g/t Au) and a very high grade Supergene Chalcocite zone (101,000t @ 24.0% Cu) at shallow depths. Both represent significant value with the mining of this product potentially able to assist in funding capital development of the larger primary plant.

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Figure 2. Mabilo Deposit - resource wireframes (oblique view )

South Body

Drilling focused on the South Mineralised Zone, in preparation of the maiden resource estimate, most drill holes were infill in nature to increase confidence in the central part of the system at the same RL as previously reported MDH-60, MDH-65 and MDH-67 (ASX release 13th August 2014). Drilling continued to validate the geology model, a number of spectacular infill intercepts returned are highlighted in Figure 3 and Table 1.

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Figure 3. Magnetic model and isotropic copper grade shell model, highlights from infill drilling (yellow)

Drilling during the quarter was infill in nature and in good agreement with the geology model, infill drilling was consistent in style and quality of drilling previously reported for magnetite skarn in this part of the system. Drill hole locations are shown in (Figure 4) and a full list of drilling and outstanding drill holes awaiting assays during the quarter is reported in Appendix 1.

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Figure 4. RTP ground magnetic image with completed drill holes and ongoing drilling. Drill hole results during the December Quarter (yellow), drill hole results awaited (green), on-going drilling (red) and previously report (black)

Table 1. Intercepts returned from resource infill drilling of magnetite skarn

Hole ID	**From **	To	Intercept (m)	Au g/t	Cu %	Ag g/t	Fe %	Mineralisation	Recovery (%)
MDH-86	102.00	138.15	36.15	1.65	1.18	2.4	50.62	Magnetite Skarn	97.23
MDH-78	55.00	158.30	103.30*	1.96	2.01	7.4	50.17	Magnetite Skarn	99.23
MDH-80	193.90	221.90	28.00	6.24	3.60	44.5	34.30	Magnetite skarn & silica-pyrite breccias	83.33
MDH-75	207.00	246.00	39.00	1.80	1.98	34.3	37.28	Magnetite skarn & silica-pyrite breccias	85.13
MDH-89	117.60	149.00	31.40	1.05	0.70	3.1	52.00	Magnetite Skarn	91.53

True widths for intercepts reported in Table 1 were determined by modelling as follows: MDH86 ~32m, MDH-80 ~20m, MDH-75 ~12m, MDH-89 ~29m.

* MDH-78 was designed to collect metallurgical samples and determine the position of east dipping structures. This hole drilled oblique to magnetite skarn, therefore no true width is determined and interval should be referred to as down hole interval only.

Oxide Gold

Three drill holes were designed to define the eastern limits of oxide mineralization of South A Zone of which a number of spectacular intercepts were the subject of reporting (ASX release on 20[th] November) and are summarized below. Oxide mineralisation intercepted in three drill holes is characterised by a gold rich copper depleted zone and an oxide copper zone which also contains significant gold mineralisation. The oxide gold zone included the highest grade assay received on the Mabilo Project with MDH-074 returning 0.60m @ 46.00 g/t Au from a downhole depth of 41.40 meters.

Table 2. Significant Oxide Gold intercepts MDH-74, MDH-76 & MDH-81.

Hole ID	From	To	Intercept (m)	Au g/t	Cu %	Ag **ppm **	Fe %	Mineralisation	Recovery %
MDH-74	30.80	61.00	30.20	7.25	1.61	7.3	35.4	Oxide Gold Zone & Oxide Copper	81
MDH-76	36.00	47.40	11.40	8.16	0.16	0.5	48.8	Oxide Gold Zone	83
MDH-81	29.65	56.20	26.55	4.12	0.11	0.4	57.5	Oxide Gold zone	76

Oxidation of primary magnetite skarn is lateral in extent and penetrative vertically, all true thicknesses reported for oxide gold intercepts in this release are therefore considered vertical in nature and modelling is supportive of this. True thickness of the oxide gold zone in MDH-76 and MDH-81 is approximately 9 meters and 22 meters respectively. Drill hole MDH-74 intercepted significant oxide copper in addition to oxide gold, the combined true thickness for oxide gold & oxide copper zones was approximately 29 meters. Sections for MDH-74, MDH-76 and MDH-81 are listed below for reference.

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Figure 5. MDH074 with two intervals reported from oxide gold zone and oxide copper zone, with previously reported MDH001

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Figure 6. MDH076 high-grade oxide gold interval, with previously reported MDH001 and MDH013 (Sierra Resources ASX release 11 July 2013 & 14th October 2013 respectively)

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Figure 7. MDH081 high grade oxide gold mineralisation, with previously reported drill holes MDH033 and MDH035 (Sierra Resources ASX release 3rd April 2014)

Metallurgical Test Work Highlights

Lycopodium Minerals Pty Ltd has managed a Phase I (scoping level) metallurgical test work program with analysis undertaken at ALS Metallurgy in Perth, Australia. The program covered the oxide and primary domains with excellent results.

The primary skarn material composite showed excellent floatability with a standard reagent suite at a P80 grind size of 106µm. Key results from the primary test work include:

• Concentrate grades up to 33% Cu and 20g/t Au;

• Copper recovery up to 96%;

• Overall gold recovery of up to 85% to concentrate and float tail leach; and

• Ball Mill Work Index of 14 kWh/t.

Test work on the “Gold Cap” oxide material showed gold recoveries up to 90% with cyanide consumption of 3.5kg/t and lime consumption of 1 kg/t.

The Phase I program will be finalized Q1, 2015 and forms the basis for the definitive test work program and associated process design & engineering.

Feasibility Study

Work continued on the Definitive Feasibility Study during the quarter. Along with the metallurgical test work, work was conducted on environmental studies, community development and infrastructure studies.

The Study remains on track for completion in the third quarter of the 2015 calendar year.

OTHER PROJECTS

The Bunawan Project is centered on a diatreme intrusive complex (Mahunoc diatreme) approximately five km NE of Medusa Mining’s Co-O mine in eastern Mindanao, Philippines. At Co-O high-grade Au bearing veins are developed perpendicular to the margin of a diatreme body (Co-O diatreme). At Bunawan a number of substantial artisanal mining operations occur within and adjacent to the Mahunoc diatreme. The edge of the diatreme is coincident with a 1.5km anomalous gold geochemical signature and the project is considered highly prospective for the discovery of economic epithermal Au-Ag mineralisation of intermediate sulphidation / carbonate-base metal type.

Following the granting of the Exploration Permit for Bunawan in August, the Company commenced a reconnaissance drilling program in November. At the end of the quarter nine holes had been completed for 3,074 metres. The results will be reported in the next quarter when assays are available.

CORPORATE

As at 31 December 2014, RTG had cash and liquid assets of US$5.73M (September quarter: US$8.59M). The quarter focused on finalising the maiden JORC Mineral Resource at Mabilo and the accompanying Technical report and commencement of the diamond drilling program at the highly prospective Bunawan Project.

Feasibility work at Mabilo continues with Phase 1 metallurgical test work due for completion at the end of January and given the successful results obtained during the preliminary test work, RTG intends to move immediately into Phase 2 Definitive Feasibility Study metallurgical test work upon the completion of Phase 1.

ABOUT RTG MINING INC

RTG Mining Inc. is a mining and exploration company listed on the main board of the Toronto Stock Exchange and Australian Securities Exchange Limited. RTG is focused on developing the high grade copper/gold/magnetite Mabilo Project and advancing exploration on the highly prospective Bunawan Project, both in the Philippines, while also identifying major new projects which will allow the Company to move quickly and safely to production.

RTG has an experienced management team (previously responsible for the development of the Masbate Gold Mine in the Philippines through CGA Mining Limited), and has B2Gold as one of its major shareholders in the Company. B2Gold is a member of both the S&P/TSX Global Gold and Global Mining Indices.

ENQUIRIES

Australian Contact President & CEO – Justine Magee

Tel: +61 8 6489 2900 Fax: +61 8 6489 2920 Email: jmagee@rtgmining.com

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation. Statement regarding interpretation of exploration results, plans for further exploration and accuracy of mineral resource and mineral reserve estimates and related assumptions and inherent operating risks, are forwardlooking statements. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from RTG’s expectations include uncertainties related to fluctuations in gold and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the development of RTG’s mineral projects; the need to obtain additional financing to develop RTG’s mineral projects; the possibility of delay in development programs or in construction projects and uncertainty of meeting anticipated program milestones for RTG’s mineral projects and other risks and uncertainties disclosed under the heading “Risk Factors” in RTG’s Annual Information Form for the year ended 31 December 2013 and the Scheme Booklet dated 10 April 2014 filed with the Canadian securities regulatory authorities on the SEDAR website at sedar.com.

QUALIFIED PERSON AND COMPETENT PERSON STATEMENT

The information in this release that relates to exploration results at the Mabilo Project is based upon information prepared by or under the supervision of Robert Ayres BSc (Hons), who is a Qualified Person and a Competent Person. Mr Ayres is a member of the Australian Institute of Geoscientists and a full-time employee of Mt Labo Exploration and Development Company, a Philippine mining company, an associate company of RTG Mining Limited. Mr Ayres has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” and to qualify as a “Qualified Person” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr. Ayres has verified the data disclosed in this release, including sampling, analytical and test data underlying the information contained in the release. Mr. Ayres consents to the inclusion in the release of the matters based on his information in the form and the context in which it appears.

The information in this release that relates to Mineral Resources is based on information prepared by or under the supervision of Mr Aaron Green, who is a Qualified Person and Competent Person. Mr Green is a Member of the Australian Institute of Geoscientists and is employed by CSA Global Pty Ltd, an independent consulting company. Mr Green has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore

Reserves” and to qualify as a “Qualified Person” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr. Green has verified the data disclosed in this release, including sampling, analytical and test data underlying the information contained in the release. Mr Green consents to the inclusion in the release of the matters based on his information in the form and context in which it appears.

Appendix 1: Location of Reported Drill Holes

HOLE ID	Location		GPS Coordinates (UTM WGS84)	GPS Coordinates (UTM WGS84)	GPS Coordinates (UTM WGS84)	Orientation **True Nth **	Orientation **True Nth **	**Depth **
	Prospect		East	North	RL	Dip	Azi	E.O.H(m)
MDH-69	South A	Metallurgy	476046	1559849	110	-60	50	186
MDH-72	South A	Resource	476044	1559846	110	-74	50	275
MDH-74	South A	Resource	476067	1559976	108	-60	50	115
MDH-75	South B	Resource	476050	1559745	112	-65	50	304
MDH-76	South A	Resource	476068	1559974	108	-60	90	83
MDH-77	South B	Resource	476047	1559850	110	-45	50	140
MDH-78	South A	Metallurgy	476066	1559978	108	-60	185	262
MDH-79	South A	Resource	475998	1559846	116	-60	50	140
MDH-80	South A	Resource	476074	1559716	113	-65	50	304
MDH-81	South A	Resource	476082	1559930	109	-65	50	174
MDH-82	South A	Resource	476047	1559747	113	-60	50	278
MDH-83	South A	Resource	476105	1559800	117	-60	50	201
MDH-84	South A	Resource	475987	1560025	110	-60	50	226
MDH-85**	South A	Resource	475996	1559856	117	-60	50	155
MDH-86	South A	Resource	476073	1559830	111	-60	50	201
MDH-87	South A	Resource	476108	1559903	119	-75	50	158
MDH-88	South A	Resource	476102	1559901	119	-55	50	112
MDH-89	South A	Resource	476156	1559737	123	-60	50	198
MDH-90*	South B	Resource	476079	1559581	127	-60	50	345
MDH-91*	South B	Resource	476050	1559632	118	-60	50	305
MDH-92*	South A	Resource	476083	1559934	109	-50	50	82
MDH-93*	South B	Resource	475992	1559713	119	-60	50	351
MDH-94	South B	Resource	476136	1559577	122	-60	50	in progress
MDH-95	South B	Resource	476167	1559603	119	-50	50	in progress

• Await assay ** Abandoned drill holes failed to reach target depth, no significant mineralisation.

All co-ordinates in UTM-WGS84 (51 N), MDH-69 to MDH-82 were surveyed using differential GPS (DGPS) system by McDonald Consultants Inc. Drill holes MDH-83 to MDH-95 surveyed using hand held GPS at this stage.

Appendix 2 – Schedule of interests and location of Tenements

Tenement reference	Location	Nature of interest	Interest at beginning of quarter	Interest at end of quarter
Application for Mineral Production- Sharing Agreement (“APSA”) 002- V	Philippines	The tenement interests are held in joint venture. RTG’s interest is held through its interest in its associate entity, Mt Labo Exploration and Development Corporation. The joint venture partner currently holds 36%.	41%	41%
Exploration Permit (“EP”) 014- 2013-V	Philippines		41%	41%
Exploration Permit Application (“EXPA”) 118-XI	Philippines	RTG’s interest is held through its interest in its associate entity Bunawan Mining Corporation.	40%	40%
APSA-03-XIII	Philippines		40%	40%
EXPA-037-XIII	Philippines		40%	40%
EXPA-123-XI	Philippines		40%	40%
EXPA-000188-V	Philippines		40%	40%
EP-02-10-XI	Philippines		40%	40%
EP-01-06-XI	Philippines		40%	40%
EP-01-10XI	Philippines		40%	40%
EP 033-XIII	Philippines		40%	40%

Appendix 3: JORC Code 2012 Edition Table 1

Section 1 Sampling Techniques and Data

Criteria		JORC Code explanation	Commentary	Commentary
Sampling		 Nature and quality of sampling (e.g. cut channels,		The assay data reported herein is based on sampling of diamond drill core of PQ,
techniques		random chips, or specific specialised industry standard		HQ and NQ diameter which was cut with a diamond core saw. Samples are
		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		generally of 1 m length, although occasionally slightly longer or shorter where changes in lithology, core size or core recovery required adjustments; samples are not more than 2 m length.
		sampling.
		 Include reference to measures taken to ensure sample
		representivity and the appropriate calibration of any		The length of each drill run is recorded and the recovery for each run calculated on
		measurement tools or systems used.		site and checked again at the core shed. Certified reference standards and blank
				samples were submitted to assess the accuracy and precision of the results and
				every 20th sample was sawn into two and the two quarter core samples submitted
		 Aspects of the determination of mineralisation that are		for analysis separately as a duplicate sample.
		Material to the Public Report.		Half core samples were cut and sent for analysis by an independent ISO-certified
				laboratory (Intertek McPhar Laboratory) in Manila. Samples were crushed and
				pulverised (95% <75 μm). Gold was analysed by 50 g fire assay and the other
				elements including copper and iron by ICP-MS (Inductively Coupled Plasma Mass
				Spectrometry) or ICP-OES (Inductively Coupled Plasma Optical Emission
				Spectrometry)followinga four-acid digest.
Drilling techniques		 Drill type (e.g. core, reverse circulation, open-hole		Drilling was by PQ, HQ and NQ diameter, triple tube diamond coring. The core was
		hammer, rotary air blast, auger, Bangka, sonic, etc)		not orientated.
		and details (eg core diameter, triple or standard tube,
		depth of diamond tails, face-sampling bit or other type,
		whether core is oriented and if so, by what method,
		_etc). _
Drill	sample	 Method of recording and assessing core and chip		Core recovery is initially measured on site by trained technicians and by the
recovery		sample recoveries and results assessed.		supervising geologist. Any core loss is measured, the percentage is calculated
				and both are recorded in the geotechnical log for reference when assessing
				assay results.
		 Measures taken to maximise sample recovery and

Criteria	JORC Code explanation	Commentary	Commentary
	ensure representative nature of the samples.		All care is taken to ensure maximum recovery of diamond core and drillers are
			informed of the importance of core recovery. Any areas of poor core recovery
			are sampled separately thus assay results can be directly related to core
			recovery.
			The majority of the mineralisation is in fresh rock where recoveries are greater
			than 90%. Most mineralisation occurs in wide intersections of massive
			magnetite skarn with relatively uniform copper and gold grades. Core loss
			occurs in fracture zones but is usually not a significant problem i.e. the core
			lost in fracture zones is unlikely to have been significantly higher or lower
			grade than the surrounding material. In the weathered hematitic oxidised
			zones some core loss is unavoidable, but overall recovery is generally >90%
			and the core loss is volumetrically minor in the mineralised zones. In areas of
			poor recovery, the sample intervals are arranged to coincide with drill runs,
			thus areas of different core loss percentage are specific to individual samples
			which can be assessed when interpreting analytical results and modelled in
			future resource estimation studies. Where an area of 100% core loss is
			identified the sample intervals are marked to each side of the zone and the
			zone is designated “No core” and assigned zero value in the various log
			sheets and geochemical database.
	 Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of		There is no discernible relationship between core recovery and grade. The skarn bodies are relatively uniform over significant lengths and the copper and gold grades are not related to clay and fracture zones which are the main
	fine/coarse material.		causes of core loss.
Logging	 Whether core and chip samples have been geologically		Diamond drill core for each entire drill hole was logged in significant detail in a
	and geotechnically logged to a level of detail to support		number of logging sheets including a geological log, a structural log, a geotechnical
	appropriate Mineral Resource estimation, mining studies		log and a magnetic susceptibility log for the entire drill hole. Mineralised and
	and metallurgical studies.		sampled intervals are logged individually in a separate quantitative mineral log with
			percentages of the different copper minerals being recorded. The logging is
			appropriate for mineral resource estimates and mining studies.
	 Whether logging is qualitative or quantitative in nature.		Most of the geological logging is a mixture of qualitative (descriptions of the various
	Core (or costean, channel, etc.) photography.		geological features) and quantitative (numbers and angles of veins and fracture
			zones, mineral percentages etc.). The quantitative mineralisation log and the
			magnetic susceptibility log are quantitative. Photographs are taken of all core (both
			wet and dry) prior to the core being cut.
	 The total length and percentage of the relevant
	_intersections logged. _		All core, including barren overburden is logged in the various logging sheets noted

Criteria		JORC Code explanation	Commentary	Commentary
				above apart from the quantitative mineralisation log in which only the mineralised
				intervals sent forgeochemical analysis are logged ingreater detail.
Sub-sampling		 If core, whether cut or sawn and whether quarter, half or		All sampling data is from diamond drill core. Samples are of sawn half core except
techniques	and	all core taken.		for duplicate samples which are quarter core. Half core is bagged and sent to an
sample				ISO-certified independent laboratory for analysis. The other half retained for
preparation				reference and/or further testwork.
		 If non-core, whether riffled, tube sampled, rotary split, etc		Not applicable for diamond core drilling.
		and whether sampled wet or dry.
		 For all sample types, the nature, quality and		All core samples were dried, crushed to 95% <10 mm and a 1.5 kg sub-sample is
		appropriateness of the sample preparation technique.		separated using a riffle splitter and pulverised to 95% <75 μm. A 50 g sub-sample
				is utilised as a fire-assay charge for gold analysis. The sample preparation
				technique and sub-sampling is appropriate for the mineralisation.
		 Quality control procedures adopted for all sub-sampling		Blank samples and duplicate samples are submitted routinely to monitor the
		stages to maximise representivity of samples.		sampling and analytical process and to ensure that samples are representative of in
				situ material. One in every 20 samples of half core is sawn again to produce two
				quarter core duplicate samples which are submitted to the laboratory separately
				with different sample numbers. A blank sample was inserted into sample batches at
				every 20thsample.
		 Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half		The magnetite skarn mineralisation occurs in extensive zones of magnetite skarn with disseminated chalcopyrite, containing gold. The sample size of approximately 1 m core length is suitable in respect to the grain size of the mineralisation.
		sampling.
		 Whether sample sizes are appropriate to the grain size _of the material being sampled. _		The sample size is considered appropriate for the material sampled. It is believed that grain size has no bearing on the grade of the sampled material.
Quality of assay		 The nature, quality and appropriateness of the		All core samples were analysed at an ISO-certified independent laboratory. Gold
data	and	assaying and laboratory procedures used and whether		was analysed by 50 g fire assay and the other elements including copper and iron
laboratory tests		the technique is considered partial or total.		were analysed by ICP-MS or ICP-OES following a four acid digest. The sample
				preparation and assay techniques are of international industry standard and can be
				considered total.
		 Forgeophysical tools, spectrometers, handheld XRF		Nogeophysical tools were used for anyanalysis reported herein. Magnetic

Criteria		JORC Code explanation	Commentary	Commentary
		instruments, etc, the parameters used in determining		susceptibility readings are used in magnetic modelling but are not used to estimate
		the analysis including instrument make and model,		magnetite or Fe content.
		reading times, calibrations factors applied and their
		derivation, etc.
		 Nature of quality control procedures adopted (e.g.		Quality control completed by RTG included analysis of standards, blanks, and
		standards, blanks, duplicates, external laboratory		duplicates. Commercial Certified Reference Materials were inserted into sample
		checks) and whether acceptable levels of accuracy (ie		batches every 40thsample. A blank sample was inserted every 20thsample; the
		lack of bias) and precision have been established.		blank sample material has been sourced and prepared from a local quarry. One in
				every 20 core samples is cut into 2 quarter core samples which were submitted
				independently with their own sample numbers. In addition, Intertek conducted their
				own extensive check sampling as part of their own internal QAQC processes which
				is reported in the assay sheets. A record of results from all duplicates, blanks and
				standards is maintained for ongoing QA/QC assessment. Examination of all the
				QAQC sample data indicates satisfactory performance of field sampling protocols
				and the assaylaboratory.
Verification	of	 The verification of significant intersections by either		Significant mineralisation intersections were verified by alternative company
sampling	and	independent or alternative company personnel.		personnel.
assaying
		 The use of twinned holes.		No twinned holes have been drilled.
		 Documentation of primary data, data entry procedures,		Data documentation, verification and storage is conducted in accordance with
		data verification, data storage (physical and electronic)		RTG’s Standard Operating Procedures Manual for the Mabilo Project. The diamond
		protocols.		drill core is manually logged in significant detail in a number of separate Excel
				template logging sheets. Logging is recorded manually on logging sheets and
				transcribed into protected Excel spreadsheet templates or entered directly into the
				Excel templates. The data are validated by both the Project Geologist and the
				company Database Manager and uploaded to the dedicated project database where
				they are merged with assay results reported digitally by the laboratory. Hard copies
				of all logging sheets are kept at the Project office in Daet.
		 _Discuss any adjustment to assay data. _		No adjustments have been made to assay data.
Location of	data	 Accuracy and quality of surveys used to locate drill		Drill-hole collars are initially surveyed with a hand-held GPS with an accuracy of
points		holes (collar and down-hole surveys), trenches, mine		approximately +/- 5 m. Completed holes are surveyed by an independent qualified
		workings and other locations used in Mineral Resource		surveyor on a periodic basis using standard differential GPS (DGPS) equipment
		estimation.		achieving sub-decimetre accuracy in horizontal and vertical position.
		 Specification of thegrid system used.		Drill collars are surveyed in UTM WGS84 Zone 51Ngrid.

Criteria	Criteria		JORC Code explanation	Commentary	Commentary
			 Quality and adequacy of topographic control.		The Mabilo project area is relatively flat with total variation in topography less than
					15 m. Topographic control isprovided byDGPS surveying.
Data	spacing and		 Data spacing for reporting of Exploration Results.		Drill holes are planned on a nominal grid with 20 m between drill holes on 40 m
distribution					spaced lines.
			 Whether the data spacing and distribution is sufficient		The drill hole spacing was designed to determine the continuity and extent of the
			to establish the degree of geological and grade		mineralised skarn zones. Based on statistical assessment of drill results to date, the
			continuity appropriate for the Mineral Resource and		nominal 40 x 20 m drill hole spacing is sufficient to support Mineral Resource
			Ore Reserve estimation procedure(s) and		estimation.
			classifications applied.
			 _Whether sample compositing has been applied. _		No compositingof intervals in the field was undertaken.
Orientation of data			 Whether the orientation of sampling achieves unbiased		No bias attributable to orientation of sampling upgrading of results has been
in	relation	to	sampling of possible structures and the extent to which		identified.
geological			this is known, considering the deposit type.
structure
			 If the relationship between the drilling orientation and
			the orientation of key mineralised structures is		No bias attributable to orientation of sampling upgrading of results has been
			considered to have introduced a sampling bias, this		identified.
			should be assessed and reported if material.
Sample security			 The measures taken to ensure sample security.		Chain of custody is managed by RTG employees. Samples were stored in secure
					storage from the time of drilling, through gathering and splitting. Remaining core is
					kept in a secure compound at the Company regional office in Daet town and
					guarded at night. Samples are sent directly from the core shed to the laboratory
					packed in secured and sealed plastic drums using either Company vehicles or a
					local transport company. A standard Chain of Custody form is signed by the driver
					responsible for transporting the samples upon receipt of samples at the core yard
					and is signed by an employee of the laboratory on receipt of the samples at the
					laboratory. Completed forms are returned to the Companyfor filing.
Audits or reviews			 The results of any audits or reviews of sampling		The sampling techniques and QA/QC data are reviewed on an ongoing basis by
			_techniques and data. _		Companymanagement and independent consultants.

Section 2 Reporting of Exploration Results

Criteria	Criteria			JORC Code explanation	Commentary	Commentary
Mineral		tenement		 Type, reference name/number, location and ownership		The Mabilo Project is covered by Exploration Permit EP-014-2013-V and
and	land		tenure	including agreements or material issues with third parties		Exploration Permit Application EXPA-000188-V. EP-014-2013-V was issued to
status				such as joint ventures, partnerships, overriding royalties,		Mt Labo Exploration and Development Corporation (“Mt Labo”), an associated
				native title interests, historical sites, wilderness or		entity of RTG Mining Inc. There is a 1% royalty payable on net mining revenue
				national park and environmental settings.		received by Mt Labo in relation to EP-014-2013-V.
						Mt Labo has entered into a joint venture agreement with Galeo Equipment and
						Mining Company, Inc. (“Galeo”) to partner in exploring and developing the
						Mabilo and Nalesbitan Projects. Galeo can earn up to a 36% interest in the
						Projects, down to 200 m below surface, by contributing approximately
						US$4,250,000 of exploration drilling and management services for the Projects
						over a 2 year period.
						In November 2013, Sierra Mining Limited (“Sierra”), a wholly owned subsidiary
						of RTG, and Galeo signed a Memorandum of Understanding (“MOU”) setting
						out proposed changes to the joint venture agreement to remove the depth limit
						of 200 m from the agreement and provide for additional drilling of 5,000 m
						below 200 m. The MOU also provides for Galeo to be granted its 36% interest
						up front with the ability for RTG to claw-back any interest deemed not earned at
						the end of the claw-back period. The amendments to the JV Agreement are
						subject to Sierra shareholder approval.
						Sierra has also entered a second MOU with Galeo whereby Galeo can earn an
						additional 6% interest in the joint venture by mining the initial 1.5 Mt of waste at
						Mabilo or Nalesbitan and other requirements including assistance with
						permitting. The MOU is subject to a number of conditions precedent, including
						Sierra shareholder approval.
				 The security of the tenure held at the time of reporting		The tenure over the area currently being explored at Mabilo is a granted
				along with any known impediments to obtaining a license		Exploration Permit which is considered secure. There is no native title or
				_to operate inthe area. _		Indigenous ancestral domains claims at Mabilo.
Exploration done by				 Acknowledgment and appraisal of exploration by other		The only significant previous exploration over the Mabilo project area was a
other parties				parties.		drilling program at another site within the tenement and a ground magnetic
						survey. RTG (or its predecessor Sierra) has reported this data in previous
						reports to the ASX and used the ground magnetic survey as a basis for initial
						drill siting. Subsequently RTG conducted its own ground magnetic survey with
						closer spaced survey lines and reading intervals which supersedes the
						historical program. There was no known previous exploration in the area of the
						reported Mineral Resource.

Criteria		JORC Code explanation	Commentary	Commentary
Geology		 Deposit type, geological setting and style of		Mineralisation at Mabilo can be defined as a magnetite-copper-gold skarn which
		mineralisation.		developed where the magnetite-copper-gold mineralisation replaced calcareous
				horizons in the Eocene age Tumbaga Formation in the contact zone of a
				Miocene diorite intrusion.
Drill	hole	 A summary of all information material to the		All relevant drill hole information has been previously reported to the ASX. No
Information		understanding of the exploration results including a		material changes have occurred to this information since it was originally
		tabulation of the following information for all Material drill		reported.
		holes:
		o easting and northing of the drill hole collar
		o elevation or RL (Reduced Level – elevation above sea
		level in metres) of the drill hole collar
		o dip and azimuth of the hole
		o down hole length and interception depth
		o hole length.
		 If the exclusion of this information is justified on the basis that the information is not Material and this exclusion		All relevant data has been reported.
		does not detract from the understanding of the report, the
		Competent Person should clearly explain why this is the
		_case. _
Data	aggregation	 In reporting Exploration Results, weighting averaging		Not reporting exploration results.
methods		techniques, maximum and/or minimum grade truncations
		(e.g. cutting of high grades) and cut-off grades are
		usually Material and should be stated.
		 Where aggregate intercepts incorporate short lengths of		Not reporting exploration results.
		high grade results and longer lengths of low grade
		results, the procedure used for such aggregation should
		be stated and some typical examples of such
		aggregations should be shown in detail.
		 The assumptions used for any reporting of metal equivalent values should be clearly stated.		Based on preliminary metallurgical testwork undertaken by previous owners, including flotation and magnetic separation, the following assumptions for gold

Criteria		JORC Code explanation	Commentary	Commentary
				equivalents are:-
				Gold Price US$1,150/oz Gold recovery – 90%
				Copper Price US$6,700/t Copper recovery – 90%
				Silver Price US$15.50/oz Silver recovery – 60%
				Iron Price US$90/t Iron recovery – 70%
				The calculation for gold equivalent values was based on the following formula:
				AuEq=((0.9AuOz$1,150)+(0.9CuMetal$6,700)+(0.7FeMetal$90)+
				(0.6AgOz$15.5))/$1,150
Relationship		 These relationships are particularly important in the		The Mabilo drill have been drilled both vertically and inclined. The orientation of
between		reporting of Exploration Results.		the mineralised bodies is based on interpretation of geology from drill holes
mineralisation				supported by magnetic modelling which indicates that much of the
widths	and			mineralisation is dipping to the southwest.
intercept lengths
		 If the geometry of the mineralisation with respect to the		The interpreted orientation of the mineralised bodies is based on magnetic
		drill hole angle is known, its nature should be reported.		modelling and drill-hole data and is documented in the report. The fact that the
				intersections are in a dipping body and therefore not true widths has been
				reported.
		 If it is not known and only the down hole lengths are		No intervals reported can be assumed to be a true width of the mineralisation.
		reported, there should be a clear statement to this effect
		_(eg ‘down hole length, true width not known’). _
Diagrams		 Appropriate maps and sections (with scales) and		Refer to figures within the main body of this report.
		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. _
Balanced reporting		 Where comprehensive reporting of all Exploration		Not applicable.
		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. _
Other	substantive	 Other exploration data, if meaningful and material, should		All meaningful exploration data concerning the Mabilo Project has been
exploration data		be reported including (but not limited to): geological		reported in previous reports to the ASX.
		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. _

Criteria	JORC Code explanation	Commentary	Commentary
Further work	 The nature and scale of planned further work (e.g. tests		Drilling is ongoing at the Mabilo Project which will systematically test magnetic
	for lateral extensions or depth extensions or large-scale		bodies and step-out targets along strike and between the North Mineralised
	step-out drilling).		Zone and the South Mineralised Zone as well as down-dip from these zones.
	 Diagrams clearly highlighting the areas of possible		Refer to figures within the main body of this report.
	extensions, including the main geological
	interpretations and future drilling areas, provided this
	information is not commercially sensitive.

Section 3 Estimation and Reporting of Mineral Resources

Criteria	JORC Code explanation		Commentary
Database integrity	 Measures taken to ensure that data has not been	 Data used in the Mineral Resource estimate is sourced from a data base export.
	corrupted by, for example, transcription or keying	Relevant tables from the data base are exported to MS Excel format and converted
	errors, between its initial collection and its use for	to	csv format for import into Datamine Studio 3 software for use in the Mineral
	Mineral Resource estimation purposes.	Resource estimate.
	 Data validation procedures used.	 Validation of the data import include checks for overlapping intervals, missing
		surveydata,missingassaydata,missinglithological data,and missingcollars.
Site visits	 Comment on any site visits undertaken by the	 A	representative of the Competent Person (CP) has visited the project on several
	Competent Person and the outcome of those visits.	occasions, most recently in July 2014. Diamond drilling programs were underway
		at	Mabilo during the most recent site visit. The CP’s representative was able to
		review drilling and sampling procedures, as well as examine the mineralisation
		occurrence and associated geological features. Sample storage facilities and the
		analytical laboratory in Manilla have also been inspected. There were no negative
		outcomes from any of the above inspections, and all samples and geological data
		were deemed fit for use in the Mineral Resource estimate.
	 If no site visits have been undertaken indicate why	 Not applicable.
	_this is the case. _
Geological	 Confidence in (or conversely, the uncertainty of) the	 The geology and mineral distribution of the system is reasonably complex, and is
interpretation	geological interpretation of the mineral deposit.	being constantly refined as more drilling is undertaken. As such the CP has taken
		a conservative approach to Mineral Resource classification.

Criteria		JORC Code explanation		Commentary
		 Nature of the data used and of any assumptions	 Drill hole intercept logging, assay results and structural interpretations from drill
		made.	core have formed the basis for the geological interpretation. Assumptions have
			been made on the depth and strike extents of the skarn mineralisation interpreted
			at	depth based on limited drilling and geophysical information.
		 The effect, if any, of alternative interpretations on	 The extents of the modelled zones are generally reasonably well constrained by
		Mineral Resource estimation.	the geological model interpretation which is based on the drill logging and
			geophysical data. Different interpretations of the mineralisation have been
			undertaken to assess the influence on Mineral Resource estimation and hence
			project economics. Where geological interpretation has a high degree of
			uncertainty it is classified as Inferred regardless of modelling parameters.
		 The use of geology in guiding and controlling Mineral Resource estimation.	 Geology has been the primary influence in controlling the Mineral Resource estimation. Wireframes have been constructed for the various lithological zones
			based on style of mineralisation, host rock and oxidation state as determined by
			the core logging and assaying.
		 The factors affecting continuity both of grade and geology.	 Continuity of geology and structures can be identified and traced between drillholes by visual, geophysical and geochemical characteristics. Breccia zones interpreted to relate to fault structures have been noted in the drill core and have been
			modelled.
Dimensions		 The extent and variability of the Mineral Resource	 The South Mineralised Zone (SMZ) is interpreted as having a 400 m strike length,
		expressed as length (along strike or otherwise),	is	20 to 40 m in true width, with vertical depth up to 240 m from roughly 50 m below
		plan width, and depth below surface to the upper	surface. The North Mineralised Zone (NMZ) has a strike extent of roughly 100 m,
		and lower limits of the Mineral Resource.	true width between 20 m and 60 m and depth extent of 135 m from roughly 40 m
			below surface.
Estimation	and	 The nature and appropriateness of the estimation	 The mineralisation has been estimated using ordinary kriging (OK) and inverse
modelling		technique(s) applied and key assumptions,	distance to the power 2 (IDS) techniques in Datamine Studio 3 software. 30
techniques		including treatment of extreme grade values,	mineralised lenses have been interpreted and are grouped into 15 mineralised
		domaining, interpolation parameters and maximum	lithological domain zones of Cu-Au-Fe mineralisation, based on lens lithology type
		distance of extrapolation from data points. If a	and grade. There are 8 of these zones in the SMZ and 7 zones in the NMZ.
		computer assisted estimation method was chosen	The mineralised lithological domain zones were used as hard boundaries to select
		include a description of computer software and	sample populations for data analysis and grade estimation. Soft boundaries
		parameters used.	between the grouped lodes within the mineralised lithological domain zones and
			hard boundaries between mineralised lithological domain zones have been used in
			the grade estimation. Statistical analysis was completed on each zone to
			determine appropriate top-cuts to apply to outlier grades of Fe, Au, Cu and Ag
			where required. OK was used for the majorityof zones with IDS used for 4 zones

Criteria		JORC Code explanation		Commentary
		 Nature of the data used and of any assumptions	 Drill hole intercept logging, assay results and structural interpretations from drill
		made.	core have formed the basis for the geological interpretation. Assumptions have
			been made on the depth and strike extents of the skarn mineralisation interpreted
			at	depth based on limited drilling and geophysical information.
		 The effect, if any, of alternative interpretations on	 The extents of the modelled zones are generally reasonably well constrained by
		Mineral Resource estimation.	the geological model interpretation which is based on the drill logging and
			geophysical data. Different interpretations of the mineralisation have been
			undertaken to assess the influence on Mineral Resource estimation and hence
			project economics. Where geological interpretation has a high degree of
			uncertainty it is classified as Inferred regardless of modelling parameters.
		 The use of geology in guiding and controlling Mineral Resource estimation.	 Geology has been the primary influence in controlling the Mineral Resource estimation. Wireframes have been constructed for the various lithological zones
			based on style of mineralisation, host rock and oxidation state as determined by
			the core logging and assaying.
		 The factors affecting continuity both of grade and geology.	 Continuity of geology and structures can be identified and traced between drillholes by visual, geophysical and geochemical characteristics. Breccia zones interpreted to relate to fault structures have been noted in the drill core and have been
			modelled.
Dimensions		 The extent and variability of the Mineral Resource	 The South Mineralised Zone (SMZ) is interpreted as having a 400 m strike length,
		expressed as length (along strike or otherwise),	is	20 to 40 m in true width, with vertical depth up to 240 m from roughly 50 m below
		plan width, and depth below surface to the upper	surface. The North Mineralised Zone (NMZ) has a strike extent of roughly 100 m,
		and lower limits of the Mineral Resource.	true width between 20 m and 60 m and depth extent of 135 m from roughly 40 m
			below surface.
Estimation	and	 The nature and appropriateness of the estimation	 The mineralisation has been estimated using ordinary kriging (OK) and inverse
modelling		technique(s) applied and key assumptions,	distance to the power 2 (IDS) techniques in Datamine Studio 3 software. 30
techniques		including treatment of extreme grade values,	mineralised lenses have been interpreted and are grouped into 15 mineralised
		domaining, interpolation parameters and maximum	lithological domain zones of Cu-Au-Fe mineralisation, based on lens lithology type
		distance of extrapolation from data points. If a	and grade. There are 8 of these zones in the SMZ and 7 zones in the NMZ.
		computer assisted estimation method was chosen	The mineralised lithological domain zones were used as hard boundaries to select
		include a description of computer software and	sample populations for data analysis and grade estimation. Soft boundaries
		parameters used.	between the grouped lodes within the mineralised lithological domain zones and
			hard boundaries between mineralised lithological domain zones have been used in
			the grade estimation. Statistical analysis was completed on each zone to
			determine appropriate top-cuts to apply to outlier grades of Fe, Au, Cu and Ag
			where required. OK was used for the majorityof zones with IDS used for 4 zones

Criteria	JORC Code explanation		Commentary	Commentary
		with low sample numbers.
	 The availability of check estimates, previous	 For		this maiden Mineral Resource OK and IDS estimates are completed
	estimates and/or mine production records and	concurrently in a number of estimation runs with varying parameters. The results
	whether the Mineral Resource estimate takes	are		compared against each other and the drill hole results to ensure a reasonable
	appropriate account of such data.	estimate, that best honours the drill sample data is reported.
		No		mining has yet taken place at these deposits.
	 The assumptions made regarding recovery of by-	 Ag		has been estimated and is assumed to be also recoverable as part of the Au
	products.	recovery processes.
	 Estimation of deleterious elements or other non-	 Potentially deleterious As and S have been estimated into the model to assist with
	grade variables of economic significance (eg	future metallurgical work and mining studies, but are not reported at this stage.
	sulphur for acid mine drainage characterisation).
	 In the case of block model interpolation, the block	 Interpreted domains are built into a sub-celled block model with 20m N-S by 20m
	size in relation to the average sample spacing and	E-W by 4m vertical parent block size. Parent block size is chosen based on being
	the search employed.	roughly half the average drill spacing over the majority of the deposit areas. Search
		ellipsoids for each estimation zone have been orientated based on their geometry
		and grade continuity. Sample numbers per block estimate and ellipsoid axial
		search ranges have been tailored to geometry and data density of each zone to
		ensure the majority of the model is estimated within the first search pass. The
		search ellipse is doubled for a second search pass and increased 20 fold for a third
		search pass to ensure all blocks were estimated. Sample numbers required per
		block estimate have been reduced with each search pass.
	 Any assumptions behind modelling of selective	 No		assumptions have been made as no mining studies have been completed.
	mining units.
	 Any assumptions about correlation between variables.	 No assumptions have been made with each element separately estimated. Statistical analysis shows a generally good correlation between Au and Cu grades
		in	unweathered zones and poor correlation in weathered zones.
	 Description of how the geological interpretation was used to control the resource estimates.	 Soft boundaries between the grouped lodes within the mineralised lithological domain zones and hard boundaries between mineralised lithological domain zones

Criteria		JORC Code explanation		Commentary	Commentary
			have been used in the grade estimation.
		 Discussion of basis for using or not using grade	 Statistical analysis to check grade population distributions using histograms,
		cutting or capping.	probability plots and summary statistics and the co-efficient of variation, was
			completed on each zone for the estimated elements. Outlier grades were variously
			found for most elements in the different mineralised lithological domain zones and
			appropriate top-cuts where applied to remove undue influence of these outlier
			grades on the grade estimation for each zone.
		 The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available.	 Validation checks included statistical comparison between drill sample grades, the OK and IDS estimate results for each zone. Visual validation of grade trends for each element along the drill sections was completed and trend plots comparing drill
			sample grades and model grades for northings, eastings and elevation were
			completed. These checks show reasonable correlation between estimated block
			grades and drill sample grades. No reconciliation data is available as no mining
			has takenplace.
Moisture		 Whether the tonnages are estimated on a dry basis	 Tonnages have been estimated on a dry in situ basis. No moisture values were
		or with natural moisture, and the method of	reviewed.
		_determination of the moisture content. _
Cut-off		 The basis of the adopted cut-off grade(s) or quality	 For		some lithological units nominal lower cut-off grades of a combination of 0.3 g/t
parameters		parameters applied.	Au		and 0.3 % Cu were used to define continuous mineralised lenses, under the
			assumption that these grades would be close to a minimum economic breakeven
			grade.
Mining factors	or	 Assumptions made regarding possible mining	 It	has been assumed that these deposits will be amenable to open cut mining
assumptions		methods, minimum mining dimensions and internal	methods, and are economic to exploit with this methodology at the reported
		(or, if applicable, external) mining dilution. It is	average model grades. No assumptions regarding minimum mining widths and
		always necessary as part of the process of	dilution have been made to date.
		determining reasonable prospects for eventual
		economic extraction to consider potential mining
		methods, but the assumptions made regarding
		mining methods and parameters when estimating
		Mineral Resources may not always be rigorous.
		Where this is the case, this should be reported with
		an explanation of the basis of the mining
		_assumptions made. _
Metallurgical		 The basis for assumptions or predictions regarding	 No		assumptions regarding metallurgical amenability have been made. Metallurgical
factors	or	metallurgical amenability. It is always necessary as	testwork is currently being undertaken and results from this work will be
assumptions		part of the process of determining reasonable	incorporated into future model updates. The oxide portions of similar deposits in
		prospects for eventual economic extraction to	the		region are beingsuccessfullyexploited byother entities,and it is assumed that

Criteria		JORC Code explanation	Commentary
		consider potential metallurgical methods, but the	these zones can be economically exploited at the modelled grades. It is assumed
		assumptions regarding metallurgical treatment	that the un-weathered mineralised material will be readily upgraded where
		processes and parameters made when reporting	necessary, using standard gravity, magnetic processes and/or froth flotation
		Mineral Resources may not always be rigorous.	concentration techniques as appropriate for the different product streams.
		Where this is the case, this should be reported with
		an explanation of the basis of the metallurgical
		_assumptions made. _
Environmental		 Assumptions made regarding possible waste and	 No assumptions regarding possible waste and process residue disposal options
factors	or	process residue disposal options. It is always	have been made. It is assumed that such disposal will not present a significant
assumptions		necessary as part of the process of determining	hurdle to exploitation of the deposit and that any disposal and potential
		reasonable prospects for eventual economic	environmental impacts would be correctly managed as required under the
		extraction to consider the potential environmental	regulatory permitting conditions.
		impacts of the mining and processing operation.
		While at this stage the determination of potential
		environmental impacts, particularly for a greenfields
		project, may not always be well advanced, the
		status of early consideration of these potential
		environmental impacts should be reported. Where
		these aspects have not been considered this
		should be reported with an explanation of the
		_environmental assumptions made. _
Bulk density		 Whether assumed or determined. If assumed, the	 In-situ dry bulk density values have been applied to the modelled mineralisation
		basis for the assumptions. If determined, the	based on linear regression formulas for weathered and unweathered material
		method used, whether wet or dry, the frequency of	separately. This is based on reasonable correlations having been found between
		the measurements, the nature, size and	measured bulk density results and Fe. Of the 674 measurements taken, 435 have
		representativeness of the samples.	assay result data, with 177 falling within the interpreted mineralised zones.
		 The bulk density for bulk material must have been	 Density measurements have been taken on drill samples using wax coated water
		measured by methods that adequately account for	displacement methods, from all different lithological types.
		void spaces (vugs, porosity, etc), moisture and
		differences between rock and alteration zones
		within the deposit.
		 Discuss assumptions for bulk density estimates	 With the reasonable correlation between Fe grade and bulk density, it is assumed
		used in the evaluation process of the different	that use of the regression formulas describing this relationship is an appropriate
		materials.	method of representingthe expected variabilityin bulk densityfor thegrade

Criteria		JORC Code explanation	Commentary
			estimated mineralised blocks.
Classification		 The basis for the classification of the Mineral	 Classification of the Mineral Resource estimates was carried out taking into
		Resources into varying confidence categories.	account the level of geological understanding of the deposit, quality of samples,
			density data and drill hole spacing.
		 Whether appropriate account has been taken of all	 The classification reflects areas of lower and higher geological confidence in
		relevant factors (ie relative confidence in	mineralised lithological domain continuity based the intersecting drill sample data
		tonnage/grade estimations, reliability of input data,	numbers, spacing and orientation. Overall mineralisation trends are reasonably
		confidence in continuity of geology and metal	consistent within the various lithotypes over numerous drill sections.
		values, quality, quantity and distribution of the
		data).
		 Whether the result appropriately reflects the	 The Mineral Resource estimate appropriately reflects the view of the Competent
		Competent Person’s view of the deposit.	Person.
Audits or reviews		 The results of any audits or reviews of Mineral	 Internal audits were completed by CSA Global which verified the technical inputs,
		Resource estimates.	methodology, parameters and results of the estimate.
			No external audits have been undertaken.
Discussion	of	 Where appropriate a statement of the relative	 The relative accuracy of the Mineral Resource estimate is reflected in the reporting
relative accuracy/		accuracy and confidence level in the Mineral	of the Mineral Resource as per the guidelines of the 2012 JORC Code.
confidence		Resource estimate using an approach or procedure
		deemed appropriate by the Competent Person. For
		example, the application of statistical or
		geostatistical procedures to quantify the relative
		accuracy of the resource within stated confidence
		limits, or, if such an approach is not deemed
		appropriate, a qualitative discussion of the factors
		that could affect the relative accuracy and
		confidence of the estimate.
		 The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to	 The Mineral Resource statement relates to global estimates of in-situ tonnes and grade.
		technical and economic evaluation. Documentation
		should include assumptions made and the
		procedures used.
		 These statements of relative accuracy and confidence of the estimate should be compared	 The deposit has not, and is not currently being mined.
		_with production data, where available. _

Appendix 4: Mineral Resource Summary Tables

Weathering State	Classification	Million Tonnes	Cu %	Au g/t	Ag g/t	Fe %	Au Oz ('000s)	Cu Metal (Kt)	Fe Metal (Kt)
Oxide + Supergene	Indicated	0.73	4.4	2.8	9.5	42.6	67	32.2	313
	Inferred	0.13	3.1	2.2	10.4	34.9	9	3.9	44
	Sub-Total Indicated + Inferred	0.86	4.2	2.8	9.7	41.5	76	36.1	356
Fresh	Indicated	5.13	1.7	2.1	8.3	49.9	347	88.9	2,563
	Inferred	5.37	1.5	1.7	12.9	39.1	293	80.4	2,102
	Sub-Total Indicated + Inferred	10.50	1.6	1.9	10.7	44.4	640	169.3	4,665
Combined	Total Indicated + Inferred	11.36	1.8	2.0	10.6	44.2	716	205.5	5,021
Note: The Mineral Resource was estimated within constraining wireframe solids based on the mineralised geological units. This resource table is quoted from all classified blocks above a lower cut-off grade 0.3 g/t Au within these wireframe solids. Differences may occur due to rounding

Mabilo Project - Mineral Resource Estimate Results as at November 2014

Indicated	Indicated	Indicated	Indicated	Indicated	Indicated	Indicated	Indicated
South Mineralised Zone	Million Tonnes	Au g/t	Cu %	Fe %	Contained Au ('000s oz)	Contained Cu (‘000s t)	Contained Fe (‘000s t)
Oxide Gold Cap	0.34	3.2	0.2	43.4	34.7	0.8	145.3
Oxide Copper/Gold	0.26	2.7	2.5	45.7	22.6	6.7	120.3
Supergene Chalcocite	0.10	2.3	24.0	38.6	7.6	24.2	39.0
Sub-Total	0.70	2.9	4.5	43.6	64.8	31.7	304.6
North Mineralised Zone
Oxide Gold Cap	0.02	1.6	0.2	23.0	1.1	0.0	4.7
Oxide Copper/Gold	0.01	2.9	3.5	21.5	1.1	0.4	2.6
Sub-Total	0.03	2.1	1.4	22.4	2.2	0.5	7.3
Total	0.73	2.8	4.4	42.6	67.0	32.2	311.9
Inferred
North Mineralised Zone	Million Tonnes	Au g/t	Cu %	Fe %	Contained Au ('000s oz)	Contained Cu (‘000s t)	Contained Fe (‘000s t)
Oxide Gold Cap	0.02	2.1	0.2	28.3	1.2	0.0	5.0
Oxide Copper/Gold	0.03	2.9	3.8	22.7	2.5	1.0	6.1
Supergene Chalcocite	0.01	2.5	13.5	14.2	0.9	1.5	1.6
Sub-Total	0.06	2.6	4.6	22.8	4.6	2.6	12.7
Indicated & Inferred
Combined Zones	Million Tonnes	Au g/t	Cu %	Fe %	Contained Au ('000s oz)	Contained Cu (‘000s t)	Contained Fe (‘000s t)
Oxide Gold Cap	0.37	3.1	0.2	41.5	37.0	0.9	155.0
Oxide Copper/Gold	0.30	2.7	2.7	42.7	26.2	8.1	129.0
Supergene Chalcocite	0.11	2.3	22.9	36.2	8.5	25.7	40.6
Total	0.79	2.8	4.4	41.2	71.7	34.7	324.7
Note: The Mineral Resource was estimated within constraining wireframe solids based on the mineralized geological units. The resource is quoted from all classified blocks above a lower cut-off grade 0.3 g/t Au within these wireframe solids. Differences may occur due to rounding.

Oxide Gold and Chalcocite Copper Mabilo Resource at 0.3g/t Au Cut-off Grade

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 RTG Mining Inc

ABN 70 164 362 850

Quarter ended (“current quarter”) 31 December 2014

Consolidated statement of cash flows

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 ‐ business development 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	Curent quarter $US	Year to date (twelve months) $US
	‐ ‐ ‐ ‐ (691,657) (362,774) ‐ 3,307 ‐ ‐ ‐	‐ ‐ ‐ ‐ (3,689,430) (1,536,218) ‐ 31,431 ‐ ‐ ‐
	(1,051,124)	(5,194,217)
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 ‐ associates 1.11 Loans repaid by other entities 1.12 Other‐cash acquired upon compl. of merger with Sierra Mining Ltd (net of acq. Costs_#)_	‐ ‐ ‐ (1,583,750) (29,549)	‐ ‐ (14,405) (2,992,472) 233,824

Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)	(1,613,299)	(2,773,053)
	(2,664,423)	(7,967,270)
1.13 Total operating and investing cash flows (brought forward)	(2,664,423)	(7,967,270)
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 (share issue costs) Net financing cash flows	‐ ‐ ‐ ‐	240 ‐ ‐ ‐ ‐
	‐	240
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date (incl cash held at acquisition of asset) 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end of quarter	(2,664,423) 5,251,764 (192,906)	(7,967,030) 10,877,848^ (516,383)
	2,394,435	2,394,435

^During the Sept quarter US$109,685 was reclassified from opening cash to receivables.

# June’14 quarter consolidated statement of cash flows presented shares issue costs and cash acquired on merger with Sierra Mining Limited separately in financing and investing activities respectively. During the current quarter the share issue costs incurred have been reallocated to investing activities resulting in the year to date position presenting the share issue costs net of cash acquired on completion of the merger with Sierra Mining Limited.

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 the parties included in item 1.10	Current quarter $US
	264,487
	-
1.25 Explanation necessary for an understanding of the transactions

Payment of salaries and fees

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

none

• 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

The joint venture partner at the Mabilo Project is earning up to a 42% interest in the project by contributing to exploration drilling, joint venture expenditure and management services.

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1	Loan facilities
3.2	Credit standby arrangements

Amount available $US	Amount used $US
‐	‐
‐	‐

Estimated cash outflows for next quarter

• $US

• 4.1 Exploration and evaluation 450,000 4.2 Development 4.3 Production 4.4 Administration: Business Development 272,000 General 427,000

1,149,000

Total

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.	Curent quarter $US	Previous quarter $US
5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (provide details)	2,394,435	2,509,500
		2,742,264
Total: cash at end of quarter(item 1.22)#	2,394,435	5,251,764

#Cash and liquid assets disclosed on Page 1 of the Activities Report includes cash at the end of the quarter plus receivables due to the Company including costs awarded under arbitration ($0.94M), consideration due as part of the Segilola share sale agreement($1.0M) and Deferred Heap Leach payment ($1.396M).

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 ofquarter	Interest at end of quarter
	-	-	-	-
	-	-	-	-

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	Number quoted	Issue price per security (see note3) (cents)	Amount paid up per security (see note3) (cents)
7.1 Preference +securities (description)

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	111,973,237	111,973,237	n/a	n/a
7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted
7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	8,784,687	8,784,687	Exercise price CAD 1.50	Expiry date 4 June 2017
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: /s/ Nicholas Day Date: 30 January 2015

(Company secretary)

Print name: Nicholas Day

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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