RTG Mining Inc. — Capital/Financing Update 2015

Nov 4, 2015

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

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ABN: 70 164 362 850

RTG ANNOUNCES UPDATE TO MINERAL RESOURCE OF MABILO

52% INCREASE IN INDICATED CATEGORY OF MINERAL RESOURCE 12.8MT CONTAINING 227,000T OF COPPER AND 762,400 OZ OF GOLD

ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE

5 NOVEMBER 2015

RTG Mining Inc. (“RTG”, “the Company”) ( TSX Code: RTG , ASX Code: RTG ) is pleased to report an update of the Mineral Resource for the Mabilo Project reported in accordance with the JORC Code (2012) and National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The Total Mineral Resource has been increased by 12% to 12.8Mt, with the Indicated Resource classification being significantly increased by 52% to 8.9Mt. The new Mineral Resource Statement (with significant potential to grow with further drilling) delivers sufficient resources to justify a Feasibility Study with a 10 year mine life, which is expected to be finalised later in the current quarter.

The Mineral Resource includes significant high grade oxide gold and copper at shallow levels which contains 70,500 ounces of gold, 35,800t of copper and 333,100t of iron. These resources could be mined with limited capital delivering significant early cashflow to partially finance construction of the primary plant.

There remains significant scope for further expansion of the resource. The magnetite skarn mineralisation, which makes up the significant portion of the Mineral Resource is well defined and remains open, down plunge and along strike.

Highlights of the resource include: –

Total Mineral Resource of 12.8Mt at 1.8% Cu, 1.9g/t Au, 9.6g/t Ag and 40.5% Fe

• Total Indicated Resource of 8.9Mt at 1.92% Cu, 2.03g/t Au, 9.79g/t Ag and 45.56 Fe , containing 169,800t copper and 577,600oz of gold at a 0.3g/t Au cut-off grade (Table1).

• Total Inferred Resource of 3.9Mt at 1.46% Cu, 1.47g/t Au, 9.09g/t Ag and 29.02% Fe , containing 57,000t copper and 184,900oz of gold at a 0.3g/t Au cut-off grade (Table 1).

• Indicated Oxide Resource that includes a high grade oxide gold “cap” zone (385,000t @ 2.9g/t Au) and a very high grade Supergene Chalcocite zone (102,000t @ 23.0% Cu) at shallow levels (Table 2). Both represent significant value with the mining of this product able to deliver early cashflow to assist in funding capital development of the larger primary plant.

• Significant upside potential remains to upgrade the Inferred Resource and to further extend the magnetite skarn mineralisation along strike and down dip beyond the current resource model.

Mineral Resource Estimate Results ‐ Reporting at 0.3g/t Au lower cut‐off ‐ Mabilo South and North Deposits
Weathering	Classification	Million Tonnes	Cu %	Au g/t	Ag g/t	Fe %	Contained Au ('000s Oz)	Contained Cu ('000s t)	Contained Fe ('000s t)	Au Equivalent ('000s Oz)*
Oxide + Supergene	Indicated	0.78	4.1	2.7	9.7	41.2	67.1	32.1	320.8	197.0
	Inferred	0.05	7.8	2.3	9.6	26.0	3.5	3.7	12.3	18.1
	Indicated + Inferred	0.83	4.3	2.7	9.7	40.3	70.5	35.8	333.1	215.1
Fresh	Indicated	8.08	1.7	2.0	9.8	46.0	510.5	137.7	3,713.7	1,135.6
	Inferred	3.86	1.4	1.5	9.1	29.1	181.5	53.3	1,121.8	413.5
	Indicated + Inferred	11.94	1.6	1.8	9.6	40.5	692.0	190.9	4,835.5	1,549.1
Combined	Indicated + Inferred	12.76	1.8	1.9	9.6	40.5	762.5	226.8	5,168.6	1,764.2
Note: The Mineral Resource was estimated within constraining wireframe solids based on the mineralised geological units. The Mineral 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
* Au equivalent is calculated using the following formula which incorporates recovery factors from metallurgical test work: Au Equivalent =((75.2%Au Oz)$1,200)+((92.8%Cu Tonnes)$5,200)+((88.4%Fe Tonnes)$65)+((60%AgOz)$16))/$1,200

Table 1 - Total Mabilo Resource at 0.3 g/t Au Cut-off Grade

OXIDE MINING STRATEGY

The Indicated Oxide Resource includes a high grade oxide gold “cap” zone (385,000t @ 2.9g/t Au) and a very high grade Supergene Chalcocite zone (102,000t @ 23.2% Cu) at shallow levels (Table 2). Given the high grade nature of this shallow oxide mineralisation, the focus will be to prioritise this area for initial exploitation.

The zones are layered and lend themselves to open pit mining processes. (See Figure 1).

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Figure 1. Schematic Long Section Showing Layering of Main Oxide Zones

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	0.33	3.1	0.2	42.6	33.3	0.7	142.2
Oxide Copper/Gold	0.28	2.4	2.6	44	21.6	7.1	121.4
Supergene Chalcocite	0.1	2.3	23.2	38.4	7.6	23.7	39.2
Sub-Total	0.71	2.7	4.4	42.5	62.5	31.5	302.8
North Mineralised Zone
Oxide Gold Cap	0.05	1.9	0.2	29.7	3	0.1	15.1
Oxide Copper/Gold	0.02	2.8	3	17.7	1.5	0.5	3
Sub Total	0.07	2.1	0.9	26.7	4.6	0.6	18
Total	0.78	2.7	4.1	41.2	67.1	32.1	320.8
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	1.7	0.2	27.6	1.2	0.1	6
Oxide Copper/Gold	0.01	1.9	2.3	20.8	0.8	0.3	2.6
Supergene Chalcocite	0.01	3.6	26	28.2	1.5	3.4	3.6
Sub Total	0.05	2.3	7.8	26	3.5	3.7	12.3
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	0.41	2.9	0.2	40.1	37.5	0.9	163.3
Oxide Copper/Gold	0.31	2.4	2.6	41.6	23.9	7.9	127
Supergene Chalcocite	0.11	2.5	23.5	37.3	9.1	27	42.8
Total	0.83	2.7	4.3	40.3	70.5	35.8	333.1
Note: The Mineral Resource was estimated within constraining wireframe solids based on the mineralised 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

Table 2 - Oxide Gold and Chalcocite Copper Mabilo Resource at 0.3g/t Au Cut-off Grade

PRIMARY MINING STRATEGY

The significant majority of the Mabilo Project value is contained within the primary resource representing 91% of the 8.86Mt defined Indicated tonnes. Figure 2 highlights the magnetite skarn in the Southern Mineralised Zone. This resource contains significant Indicated tonnes of Copper-Gold-Iron Skarn that forms the basis of the project’s potential to become a significant and highly profitable long term operation. Initial resource work focused on clearly defining the Oxide Resource. Drilling since the maiden resource was announced has focused on better defining the copper-goldmagnetite skarn to provide confidence in the Mineral Resource for the Bankable Feasibility Study currently being finalised.

The majority of the Mabilo Project primary resource is the magnetite skarn of the North and South Mineralised zones. The magnetite skarn in the North Mineralised Zone is relatively higher in grade at 2.43% Cu and 2.21g/t Au compared to that in the south at 1.67% Cu and 2.01g/t Au. The shallow plunging and down dip extending South Mineralised Zone contains the majority of the tonnes and will be the initial focus of mining after the oxide pit is complete. The North Mineralised Zone magnetite skarn resource occurs at shallower levels and will be used to supplement the South Mineralised Zone and contains significant true widths and higher tonnes.

Given the geometry and position of the two mineralised zones, access to high grade primary copper-gold magnetite skarn should be achievable over the life of project. Magnetite in the North Mineralised Zone also interfingers with marble-limestone at relatively shallow levels providing reliable and accessible sources of acid-neutralising material early in the mining schedule which will be an important part of an integrated environmental management plan.

RTG Chief Executive Officer, Justine Magee said that this is the second Mineral Resource for the Mabilo Project, and underpins the long term potential of the project.

“ The second Mineral Resource, delivered in less than 18 months from investing in the project, demonstrates the opportunity to develop a highly profitable low-cost, high grade copper-gold project. This is an excellent result for the Company, and will form the backbone to a robust Bankable Feasibility Study on one of the few new projects that can be developed even in these difficult capital market conditions. The mineralized zones remain open along strike, down dip and down plunge with significant exploration upside from other untested areas within the tenement.” Ms Magee said.

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Figure 2. Block Model Long Section Showing Distribution of Copper and Gold Grades (Southern Mineralised Zones) selected drill holes labelled.

ABOUT MABILO

The Mabilo Project is located in Camarines Norte Province, Eastern Luzon, Philippines (Figure 3). It comprises one granted Exploration Permit (EP-014-2013-V) of approximately 498 ha (currently in renewal process) and two Exploration Permit Applications (EXPA-000188-V) of 2,737 ha and (EXPA 0000 209-V) of 498 ha. The Project area is relatively flat and is easily accessed by 15 km of all-weather road from the highway at the nearby town of Labo.

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Figure 3. Mabilo Deposit – Location Plan

Summary of Mineral Resource Estimate and Reporting Criteria

The Mineral Resource was prepared by independent resource consultancy CSA Global Pty Ltd (“CSA Global”).

Geology and Geological Interpretation

Two mineralised magnetite skarn bodies were initially targeted using ground magnetic data and have been subsequently drilled. The magnetite skarn mineralisation is parallel to the host carbonate unit and passes down-dip into garnet skarn, contact metamorphosed marble or limestone. Magnetite skarn represents the replacement

bodies of the limestone marble lithologies. Magnetite skarn bodies have been fault offset laterally with magnetite continuing across offset zones as strongly mineralised magnetite breccias.

Magnetite near surface has been subject to tropical weathering and the development of an oxide zone dominated by a significant gold-rich, copper-depleted cap (referred to as Oxide Gold “Cap”). A high grade chalcocite zone dominates the northern end of the South Zone with the remainder of the oxide resource being oxidised magnetite skarn with similar copper and gold grades to primary magnetite.

The North Mineralised Zone and South Mineralised Zone have both been modelled for this Mineral Resource Estimate (“MRE”). Mineralised skarn is dipping 60 degrees to the southwest and striking approximately 320 degrees. The North Mineralised Zone is approximately160m in strike length and is fault offset 150m from the larger South Mineralised Zone which is approximately 500m in strike length. The South Mineralised Zone is fault offset into two fault blocks. The thickness of magnetite skarn is variable due to lithological variation of the host marble limestone. At the southern end of the South Mineralised Zone, magnetite is approximately 30m in thickness, thinning down dip to approximately 15m at the marble contacts (Figure 4). At the northern end of the South Mineralised Zone the thickness is approximately 45-50m where it has been subjected to oxidation and supergene enrichment before being covered by volcanic lahars and tuffs. The North Mineralised Zone is up to 60m thick, and thinning to 15m at the magnetite-marble contact.

The skarn has been subjected to extensive retrograde alteration. This includes variable overprint of the magnetite skarn by pyrite.

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Figure 4. Block Model Cross Sections Showing Distribution of Copper and Gold Grades at the southern end of the South Mineralised Zone.

Drilling and Sampling Techniques

The MRE is based on data obtained from 98 diamond core drill holes (18,200.90m) drilled across the two mineralised zones. Drill holes are located on a nominal 40m by 40m spacing across primary magnetite zones with good geological continuity. Oxide and chalcocite zones were drilled at 25m by 20m nominal spacing with drilling oriented approximately north-west to south-east across the strike of mineralisation. The dip of the drill holes was designed to intersect the mineralisation at the optimal angle to minimise sampling bias with a number of early vertical holes followed up with angled holes. All drill results included in the MRE have been reported in previous releases.

The majority of the drill hole collars were surveyed using a differential global positioning system (“DGPS”) to centimetre accuracy. All down-hole surveying was carried out using a combination of Reflex Ez-Trak multi-shot survey tool at 30m intervals down hole and the Reflex Gyro system was used where magnetite skarn was intersected.

All diamond drill core was geologically logged, recording relevant data to a set template. Diamond core was also geotechnically logged and the core photographed for future record. Diamond core was half core sampled to geology contacts. Core samples were submitted for analysis to ISO-certified Intertek McPhar Laboratory in Manila. Field quality assurance procedures were employed, including the use of standards, blanks and duplicates. The drill hole data is maintained in a secure relational database by company personnel.

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Figure 5. Mabilo Deposit – Resource Wireframes (Oblique View ), some garnet skarn wireframes are not shown as not to obscure magnetite skarn .

Sample Analysis Method

Half core samples were cut and sent for analysis to Intertek McPhar Laboratory, an independent ISO-certified laboratory in Manila. Samples were crushed and pulverised (95% <75 ɥm). Gold was analysed by 50g Fire Assay and the other elements including copper and iron by ICP-MS (Inductively Coupled Plasma Mass Spectrometry) or ICPOES (Inductively Coupled Plasma Optical Emission Spectrometry) following a fouracid digest.

The sample preparation and assay techniques used for the assay results reported herein are of international industry standard and can be considered total. As a result iron grade though dominated by iron in magnetite, includes iron in other minerals including chalcopyrite and pyrite.

Resource Estimation Methodology

Datamine Studio 3 software was used for all geological modelling, block modelling, grade interpolation, Mineral Resource classification and reporting. Mineralisation domains were modelled based on the geological interpretation from the lithological logging of drill core and drill sample assay results. For the magnetite skarn zones, which are by definition mineralised with magnetite iron, the lithological logging has driven the interpretation. Other lithological units in the system are not necessarily mineralised to potentially economic levels throughout their full extents. These zones have been modelled using a nominal lower cut-off grade combination of 0.3g/t Au and 0.3% Cu in concert with the lithological logging to generate mineralised lithological domains.

The block model consists of 41 mineralisation lenses grouped into 14 lithological domain zones of Cu-Au-Fe mineralisation, based on lens lithology type. There are 9 mineralised lithological domain zones in the South Mineralised Zone and 5 in the North Mineralised Zone. The mineralised lithological domain zones were used as hard boundaries to select sample populations for data analysis and grade estimation. In the South Mineralised Zone hard boundaries between individual lenses were used in the grade estimation, while soft boundaries between the lenses within each domain zone were used in the North Mineralised Zone (refer to Figure 5).

Sample data was composited to 1m downhole lengths based on sample length frequency. Statistical analysis was undertaken on all mineralised zones and high grade cuts were applied based on a review of the histograms, probability plots and basic statistics.

Grade interpolation was undertaken using ordinary kriging (“OK”) with an inverse distance to the power of two (“IDS”) check estimate. Search ellipsoids were oriented to reflect mineralisation continuity directions identified from sample data analysis.

Block model definition parameters were reviewed with the primary block size of 10m E-W by 10m N-S by 5m vertical and sub-blocking to 2.5m by 2.5m by 2.5m.

Note the iron grade in the MRE is total iron. Although dominated by magnetite iron in the magnetite skarn, it does include other iron-bearing minerals including pyrite which will not be economically recoverable.

Cut-off Grades

Cut-off grades for reporting the Mineral Resource are 0.3g/t Au, in line with recommendations from RTG based on preliminary optimisation studies.

Mining and Metallurgical Methods and Parameters

It has been assumed that the Mabilo Mineral Resource, if mined, will be developed using open pit mining methods. No assumptions have been made to date regarding minimum mining widths or dilution.

Extensive metallurgical test work is ongoing and the various styles of mineralisation which make up the Mabilo Mineral Resource have been domained according to their mineralogical and geological characteristics.

Classification Criteria

The Mineral Resource is classified as Indicated and Inferred, in accordance with the JORC (2012) Code, with geological evidence sufficient to assume geological and grade continuity in the Indicated volumes. Classification of the Mineral Resource estimate was carried out taking into account the geological understanding of the deposit, quality of the samples, density of data and drill hole spacing.

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 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 43101 – 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 Infill Drill Holes Previously Not Reported

All drill holes included in the Mineral Resource Estimate have been previously reported. All collars were surveyed using a differential global positioning system (“DGPS”) to centimetre accuracy.

Appendix 2: 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		The assay data reported herein is based on sampling of diamond drill core of PQ,
techniques	channels, random chips, or specific specialised		HQ and NQ diameter which was cut with a diamond core saw. Samples are generally
	industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be		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.
	taken as limiting the broad meaning of sampling.
	 Include reference to measures taken to ensure
	sample representivity and the appropriate calibration of any measurement tools or systems used.		The length of each drill run is recorded and the recovery for each run calculated on 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 20thsample was sawn into two and the two quarter core samples submitted for
			analysis separately as a duplicate sample.
	 Aspects of the determination of mineralisation that are 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) following a four-acid digest.
Drilling techniques	 Drill type (e.g. core, reverse circulation, open-		Drilling was by PQ, HQ and NQ diameter, triple tube diamond coring. The core was
	hole hammer, rotary air blast, auger, Bangka,		not orientated.
	sonic, etc) and details (eg core diameter, triple or
	standard tube, depth of diamond tails, face-
	sampling bit or other type, whether core is
	_oriented and ifso, by what method, etc). _
Drill sample	 Method of recording and assessing core and		Core recovery is initially measured on site by trained technicians and by the
recovery	chip 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 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

Criteria	JORC Code explanation	Commentary	Commentary
			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		There is no discernible relationship between core recovery and grade. The skarn
	recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.		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 causes of core loss.
Logging	 Whether core and chip samples have been		Diamond drill core for each entire drill hole was logged in significant detail in a
	geologically and geotechnically logged to a level of		number of logging sheets including a geological log, a structural log, a geotechnical
	detail to support appropriate Mineral Resource		log and a magnetic susceptibility log for the entire drill hole. Mineralised and sampled
	estimation, mining studies and metallurgical		intervals are logged individually in a separate quantitative mineral log with
	studies.		percentages of the different copper minerals being recorded. The logging is
			appropriate for Mineral Resource estimates and mining studies.
			Most of the geological logging is a mixture of qualitative (descriptions of the various
	 Whether logging is qualitative or quantitative in		geological features) and quantitative (numbers and angles of veins and fracture
	nature. Core (or costean, channel, etc.)		zones, mineral percentages etc.). Both the mineralisation log and the magnetic
	photography.		susceptibility log are quantitative. Photographs are taken of all core (both wet and
			dry) prior to the core being cut.
			All core, including barren overburden is logged in the various logging sheets noted
	 The total length and percentage of the relevant		above apart from the quantitative mineralisation log in which only the mineralised
	_intersections logged. _		intervals sent forgeochemical analysis are logged ingreater detail.

Criteria	JORC Code explanation	Commentary	Commentary
Sub-sampling	 If core, whether cut or sawn and whether quarter,		All sampling data is from diamond drill core. Samples are of sawn half core except
techniques and	half or all core taken.		for duplicate samples which are quarter core. Half core is bagged and sent to an
sample preparation			ISO-certified independent laboratory for analysis. The other half retained for
			reference and/or further testwork.
	 If non-core, whether riffled, tube sampled, rotary		Not applicable for diamond core drilling.
	split, etc 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		separated using a riffle splitter and pulverised to 95% <75 μm. A 50 g sub-sample
	technique.		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-		Blank samples and duplicate samples are submitted routinely to monitor the
	sampling stages to maximise representivity of		sampling and analytical process and to ensure that samples are representative of in
	samples.		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		The magnetite skarn mineralisation occurs in extensive zones of magnetite skarn
	representative of the in situ material collected,		with disseminated chalcopyrite, containing gold. The sample size of approximately 1
	including for instance results for field		m core length is suitable in respect to the grain size of the mineralisation.
	duplicate/second-half sampling.
	 Whether sample sizes are appropriate to the grain		The sample size is considered appropriate for the material sampled. It is believed
	_size of the material being sampled. _		thatgrain size has no bearingon thegrade 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 was
data and	assaying and laboratory procedures used and		analysed by 50 g Fire Assay and the other elements including copper and iron were
laboratory tests	whether the technique is considered partial or		analysed by ICP-MS or ICP-OES following a four acid digest. The sample preparation
	total.		and assay techniques are of international industry standard and can be considered
			total.
	 For geophysical tools, spectrometers, handheld		No geophysical tools were used for any analysis reported herein. Magnetic
	XRF instruments, etc, the parameters used in		susceptibility readings are used in magnetic modelling but are not used to estimate
	determining the analysis including instrument		magnetite or Fe content.
	make and model, reading times, calibrations
	factors applied and their derivation, etc.

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
		Nature of quality control procedures adopted		Quality control completed by RTG included analysis of standards, blanks, and
		(e.g. standards, blanks, duplicates, external		duplicates. Commercial Certified Reference Materials were inserted into sample
		laboratory checks) and whether acceptable		batches every 40thsample. A blank sample was inserted every 20thsample; the blank
		levels of accuracy (ie lack of bias) and precision		sample material has been sourced and prepared from a local quarry. One in every
		have been established.		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 QA/QC 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 QC
				sample data indicates satisfactory performance of field sampling protocols and the
				assaylaboratory.
Verification of		The verification of significant intersections by		Significant mineralisation intersections were verified by alternative company
sampling and		either independent or alternative company		personnel.
assaying		personnel.
		The use of twinned holes.		No twinned holes have been drilled.
		Documentation of primary data, data entry		Data documentation, verification and storage is conducted in accordance with RTG’s
		procedures, data verification, data storage		Standard Operating Procedures Manual for the Mabilo Project. The diamond drill
		(physical and electronic) protocols.		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 assaydata.
Location of data		Accuracy and quality of surveys used to locate		Drill-hole collars are initially surveyed with a hand-held GPS with an accuracy of
points		drill holes (collar and down-hole surveys),		approximately +/- 5 m. Completed holes are surveyed by an independent qualified
		trenches, mine workings and other locations		surveyor on a periodic basis using standard differential GPS (DGPS) equipment
		used in Mineral Resource estimation.		achieving sub-decimetre accuracy in horizontal and vertical position.
		Specification of the grid system used.		Drill collars are surveyed in UTM WGS84 Zone 51N grid.
		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.

Criteria	JORC Code explanation	Commentary	Commentary
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		The drill hole spacing was designed to determine the continuity and extent of the
	sufficient to establish the degree of geological		mineralised skarn zones. Based on statistical assessment of drill results to date, the
	and grade continuity appropriate for the Mineral		nominal 40 x 20 m drill hole spacing is sufficient to support Mineral Resource
	Resource and Ore Reserve estimation		estimation.
	procedure(s) and 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		No bias attributable to orientation of sampling upgrading of results has been
in relation to	unbiased sampling of possible structures and the		identified.
geological	extent to which this is known, considering the
structure	deposit type.
	 If the relationship between the drilling orientation		No bias attributable to orientation of sampling upgrading of results has been
	and the orientation of key mineralised structures		identified.
	is considered to have introduced a sampling
	bias, this 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	**JORC Code explanation **	Commentary	Commentary
Mineral tenement	 Type, reference name/number, location and		The Mabilo Project is covered by Exploration Permit EP-014-2013-V and
and land tenure	ownership including agreements or material issues		Exploration Permit Application EXPA-000188-V and EXPA 0000 209-V. EP-014-
status	with thirdparties such asjoint ventures,		2013-V was issued to Mt Labo Exploration and Development Corporation(“Mt

Criteria	JORC Code explanation	Commentary	Commentary
	partnerships, overriding royalties, native title		Labo”), an associated entity of RTG Mining Inc. There is a 1% royalty payable on
	interests, historical sites, wilderness or national		net mining revenue received by Mt Labo in relation to EP-014-2013-V.
	park and environmental settings.		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. To date, Galeo has earned a 36% interest in the Projects.
			Sierra Mining Limited (“Sierra”), a wholly owned subsidiary of RTG, has entered
			into a 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. The MOU is subject to a number of conditions precedent, including
			Sierra shareholder approval.
			The tenure over the area currently being explored at Mabilo is a granted Exploration
	 The security of the tenure held at the time of		Permit which is currently being renewed. All documents are in good standing and
	reporting along with any known impediments to		the renewal process is ongoing. There is no native title or Indigenous ancestral
	_obtaining a license to operate inthe area. _		domains claims at Mabilo.
Exploration done by	 Acknowledgment and appraisal of exploration by		The only significant previous exploration over the Mabilo project area was a drilling
other parties	other parties.		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.
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 reported.
	tabulation of the following information for all
	Material drill holes:
	o easting and northing of the drill hole collar
	o elevation or RL (Reduced Level – elevation
	above sea level in metres) of the drill hole collar
	o dip and azimuth of the hole
	o down hole length and interception depth
	o hole length.
	 If the exclusion of this information isjustified on the		All relevant data has been reported.

Criteria	JORC Code explanation	Commentary	Commentary
	basis that the information is not Material and this
	exclusion does not detract from the understanding
	of the report, the Competent Person should clearly
	_explain why this is the case. _
Data aggregation	 In reporting Exploration Results, weighting		Not reporting exploration results.
methods	averaging techniques, maximum and/or minimum
	grade truncations (e.g. cutting of high grades) and
	cut-off grades are usually Material and should be
	stated.
			Not reporting exploration results.
	 Where aggregate intercepts incorporate short
	lengths of high grade results and longer lengths of
	low grade results, the procedure used for such
	aggregation should be stated and some typical
	examples of such aggregations should be shown in
	detail.
			Based on preliminary metallurgical testwork undertaken by previous owners,
	 The assumptions used for any reporting of metal		including flotation and magnetic separation, the following assumptions for gold
	equivalent values should be clearly stated.		equivalents are:-
			Gold Price US$1200/oz Gold recovery – 75.2%
			Copper Price US$5,200t Copper recovery – 92.8%
			Silver Price US$16/oz Silver recovery – 60%
			Iron Price US$65/t Iron recovery – 88.4%
			The calculation for gold equivalent values was based on the following formula:
			AuEq=(((0.752AuOz$1,200)+(0.928CuMetal$5,200)+(0.884FeMetal$65)+
			(0.6AgOz$16)) / $1,200)/Total ore tonnes
Relationship	 These relationships are particularly important in the		The Mabilo drill have been drilled both vertically and inclined. The orientation of the
between	reporting of Exploration Results.		mineralised bodies is based on interpretation of geology from drill holes supported
mineralisation			by magnetic modelling which indicates that much of the mineralisation is dipping to
widths and intercept			the southwest.
lengths
	 If the geometry of the mineralisation with respect to		The interpreted orientation of the mineralised bodies is based on magnetic
	the drill hole angle is known, its nature should be		modelling and drill-hole data and is documented in the report. The fact that the
	reported.		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’).

Criteria	JORC Code explanation	Commentary	Commentary
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,		All meaningful exploration data concerning the Mabilo Project has been reported in
exploration data	should be reported including (but not limited to):		previous reports to the ASX.
	geological observations; geophysical survey
	results; geochemical survey results; bulk samples –
	size and method of treatment; metallurgical test
	results; bulk density, groundwater, geotechnical
	and rock characteristics; potential deleterious or
	_contaminating substances. _
Further work	 The nature and scale of planned further work (e.g.		Drilling is ongoing at the Mabilo Project which will systematically test magnetic
	tests for lateral extensions or depth extensions or		bodies and step-out targets along strike and between the North Mineralised Zone
	large-scale step-out drilling).		and the South Mineralised Zone as well as down-dip from these zones.
	 Diagrams clearly highlighting the areas of		Refer to figures within the main body of this report.
	possible 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.
	Mineral Resource estimation purposes.
		 Validation of the data import include checks for overlapping intervals, missing survey
	 Data validationprocedures used.	data,missingassaydata,missinglithological data,and missingcollars.

Criteria	JORC Code explanation	Commentary	Commentary
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 October 2015. Diamond drilling programs were
		underway at Mabilo during a previous 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.
	 Nature of the data used and of any assumptions	 Drill hole intercept logging, assay results and structural interpretations from drill core,
	made.	and the results of geophysical modelling of magnetic anomalies have formed the
		basis for the geological interpretation. For the South Mineralised Zone (“SMZ”) strike
		and depth extents have been reasonably well constrained through drilling, except for
		the	south eastern end where the deposit is still open along strike and at depth and
	 The effect, if any, of alternative interpretations on	assumptions have been made on the depth and strike extent of the mineralisation.
	Mineral Resource estimation.	In the North Mineralised Zone (“NMZ”) the strike and depth extents of the
		mineralisation are not fully constrained by drilling and assumptions have been made
		on	the depth and strike extents of the mineralisation based on the available
		information including the geophysical modelling and bounding structure
		interpretations. Some drill collars had not yet been surveyed by DGPS at the time of
		modelling. The collars had been surveyed by hand held GPS with an estimated
	 The use of geology in guiding and controlling	horizontal accuracy (based on historical comparisons) of roughly 3m. The elevation
	Mineral Resource estimation.	of the collar has been corrected to the topographic surface. Mineralisation intercepts
		from these drill holes were found to correspond well with previously interpreted
		mineralisation zone extents. Any differences from the true position is not expected
		to have any material impact on the volumes and grades of the interpreted
	 The factors affecting continuity both of grade and	mineralisation zones.
	geology.
		 The extents of the modelled zones are generally reasonably well constrained by the
		geological model interpretation, which is based on the drill logging and geophysical
		data. Subsequent to the previous mineral resource estimate the NMZ has been
		significantlyre-interpreted based on new drillingdata. The results from the re-

Criteria	JORC Code explanation	Commentary
		interpretation show a minor increase in tonnage with grades virtually unchanged.
		Where geological interpretation has a higher degree of uncertainty it is classified as
		Inferred regardless of modelling parameters.
		 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.
		 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 SMZ is interpreted as having a 500 m strike length, is 20 to 50 m in true width,
	expressed as length (along strike or otherwise),	with vertical depth extent up to 280 m from roughly 50 m below surface. The NMZ
	plan width, and depth below surface to the upper	has a strike extent of roughly 160 m, true width between 20 m and 50 m and depth
	_and lower limits of the Mineral Resource. _	extent of 135 m from roughly40 m below surface.
Estimation and	 The nature and appropriateness of the estimation	 The mineralisation has been estimated using ordinary kriging (“OK”) as the primary
modelling techniques	technique(s) applied and key assumptions,	estimation method with an inverse distance to the power 2 (“IDS”) check estimate in
	including treatment of extreme grade values,	Datamine Studio 3 software. 41 mineralised lodes have been interpreted and are
	domaining, interpolation parameters and maximum	grouped into 14 mineralised lithological domain zones of Cu-Au-Fe mineralisation,
	distance of extrapolation from data points. If a	based on lens lithology type and grade. There are 9 of these zones in the SMZ and
	computer assisted estimation method was chosen	6 zones in the NMZ.
	include a description of computer software and	The mineralised lithological domain zones and the individual mineralised lodes
	parameters used.	within them were used as hard boundaries to select sample populations for data
		analysis and grade estimation. For the SMZ hard boundaries between each
		interpreted mineralisation lode have been used in the grade estimation while in the
		NMZ soft boundaries 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
	 The availability of check estimates, previous	Ag where required.
	estimates and/or mine production records and
	whether the Mineral Resource estimate takes	 OK and IDS estimates are completed concurrently in a number of estimation runs
	appropriate account of such data.	with varying parameters. The results are compared against each other and the drill
		hole results to ensure a reasonable estimate, that best honours the drill sample data
		is reported. Comparison with the previously reported estimate shows a roughly 12%
	 The assumptions made regarding recovery of by-	increase in tonnage and with a slight decrease in the mean reported grades
	_products. _	increases of between 3% and 10% of contained metal as detailed in the relevant

Criteria	JORC Code explanation	Commentary	Commentary
		section of the Mineral Resource estimate report.
	 Estimation of deleterious elements or other non-	 No	mining has yet taken place at these deposits.
	grade variables of economic significance (eg
	sulphur for acid mine drainage characterisation).	 Ag	has been estimated and is assumed to be also recoverable as part of the Au
		recovery processes. Fe grade estimated in the MRE is total Fe. Although dominated
	 In the case of block model interpolation, the block	by magnetite Fe in the magnetite skarn, it does include other Fe-bearing minerals
	size in relation to the average sample spacing and	including pyrite which will not be economically recoverable.
	the search employed.
		 Potentially deleterious As and S have been estimated into the model to assist with
		future metallurgical work and mining studies, but are not reported at this stage.
		 Interpreted domains are built into a sub-celled block model with 10m E-W by 10m
		N-S by 5m vertical parent block size. Parent block size is chosen based on being
		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
	 Any assumptions behind modelling of selective	and grade continuity. Sample numbers per block estimate and ellipsoid axial search
	mining units.	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
	 Any assumptions about correlation between	doubled for a second search pass and increased 20 fold for a third search pass to
	variables.	ensure all blocks were estimated. Sample numbers required per block estimate have
		been reduced with each search pass.
	 Description of how the geological interpretation was	 No	assumptions have been made. Model minimum sub-cell size is down to 2.5m N-
	used to control the resource estimates.	S by 2.5m E-W by 2.5m vertical.
	 Discussion of basis for using or not using grade	No	assumptions have been made with each element separately estimated.
	cutting or capping.	Statistical analysis shows a generally good correlation between Au and Cu grades
		in unweathered zones and poor correlation in weathered zones.
		 Hard boundaries between each individual lode have been used in the grade estimate
		for	the SMZ. Soft boundaries 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 for the NMZ.
	 The process of validation, the checking process
	used, the comparison of model data to drill hole	 Statistical analysis to check grade population distributions using histograms,
	data, and use of reconciliation data if available.	probability plots and summary statistics and the co-efficient of variation, was
		completed on each zone for the estimated elements. Outliergrades were variously

Criteria	JORC Code explanation		Commentary	Commentary
		found for most elements in the different mineralised lithological domain zones and
		appropriate high grade cuts where applied to remove undue influence of these outlier
		grades on the grade estimation for each zone.
		 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 parameters	 The basis of the adopted cut-off grade(s) or quality	 For		some lithological units nominal lower cut-off grades of 0.3 g/t Au or 0.3 % Cu in
	parameters applied.	concert with the lithological logging were used to define continuous mineralised
		lenses, in line with recommendations from RTG based on preliminary optimisation
		studies.
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 average
	(or, if applicable, external) mining dilution. It is	model grades. No assumptions regarding minimum mining widths and dilution have
	always necessary as part of the process of	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 factors	 The basis for assumptions or predictions regarding	 The oxide portions of similar deposits in the region are being successfully exploited
or assumptions	metallurgical amenability. It is always necessary as	by other entities, and it is assumed that these zones can be economically exploited
	part of the process of determining reasonable	at		the modelled grades. For the unweathered or fresh materials ongoing
	prospects for eventual economic extraction to	metallurgical testing has shown a less consistent response of the samples tested
	consider potential metallurgical methods, but the	than was expected. The initial findings indicate there appears to be a relationship
	assumptions regarding metallurgical treatment	with S:Cu ratios involved in metallurgical response. Composite samples appear to
	processes and parameters made when reporting	respond better to flotation than the individual components that make up the
	_Mineral Resources may not always be rigorous. _	composites. Further optimisation testingis ongoingto improve recoveries. Based on

Criteria	JORC Code explanation	Commentary	Commentary
	Where this is the case, this should be reported with	the	results reported to date it is assumed that a significant majority of the modelled
	an explanation of the basis of the metallurgical	unweathered mineralisation can be economically exploited and will be readily
	assumptions made.	upgraded where necessary, using standard gravity, magnetic processes and/or froth
		flotation concentration techniques as appropriate for the differentproduct streams.
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 hurdle
assumptions	necessary as part of the process of determining	to exploitation of the deposit and that any disposal and potential environmental
	reasonable prospects for eventual economic	impacts would be correctly managed as required under the regulatory permitting
	extraction to consider the potential environmental	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 1,009 measurements taken, 628 have
	representativeness of the samples.	assay result data, with 216 samples falling within the interpreted mineralised zones.
		29 samples fall within the oxide mineralisation and density measurement shows a
	 The bulk density for bulk material must have been	73% correlation with Fe grade. 188 measured density samples fall within the fresh
	measured by methods that adequately account for	mineralisation with an 80% correlation between measured density and Fe grade.
	void spaces (vugs, porosity, etc), moisture and
	differences between rock and alteration zones	 Density measurements have been taken on drill samples using wax coated water
	within the deposit.	displacement methods, from all different lithological types. CSA Global has noted
		the	amount of wax used in the coating process was excessive for some samples.
	 Discuss assumptions for bulk density estimates	Analysis showed this issue generally only affects the oxide waste and overburden
	used in the evaluation process of the different	zones. This means that waste density assigned to the model could be over stated
	materials.	for	the overburden and oxide zones. There is a possibility that void spaces have
		been partially filled by wax in the mineralisation zones affected by porosity, resulting
		in a slightly higher density being calculated and assigned to some zones. Any
		possible effects of this are expected to be within the margins of error reflected by the
		classification.

Criteria	JORC Code explanation	Commentary
		 With the reasonable correlation between Fe grade and bulk density, it is assumed
		that use of the regression formulas describing this relationship is an appropriate
		method of representing the expected variability in bulk density for the grade
		estimated mineralised blocks. Analysis of the results of application of the regression
		formulas to the model by individual mineralised lithological domain unit shows that
		the mean model density compares closely to the mean of the density measurements
		from within each zone.
Classification	 The basis for the classification of the Mineral	 Classification of the Mineral Resource estimates was carried out taking into account
	Resources into varying confidence categories.	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.

Criteria	JORC Code explanation	Commentary
	 The statement should specify whether it relates to	 The Mineral Resource statement relates to global estimates of in-situ tonnes and
	global or local estimates, and, if local, state the	grade.
	relevant tonnages, which should be relevant to
	technical and economic evaluation. Documentation
	should include assumptions made and the
	procedures used.
	 These statements of relative accuracy and	 The deposit has not, and is not currently being mined.
	confidence of the estimate should be compared
	_with production data, where available. _