Sheffield Resources Ltd. — Capital/Financing Update 2015

Jul 2, 2015

==> picture [102 x 66] intentionally omitted <==

ASX and Media Release

3 July, 2015

TWELVE NEW NICKEL AND GOLD TARGETS OUTLINED IN FRASER RANGE

KEY POINTS

• Grant of three new exploration licences expands Sheffield’s footprint in Fraser Range

• Five substantial new nickel targets identified from review of historic (pre the discovery of Nova/Bollinger) data and initial reconnaissance sampling, including:

• Substantial auger soil nickel anomalies with peak values ranging from 1671,274ppm Ni

• Only one anomaly has been drilled, intersecting ultramafic rocks with nickelcopper mineralisation

• Rock chip assay results up to 1.15% nickel from weathered ultramafic

• Seven new gold targets delineated by high quality historic exploration activity involving extensive shallow drilling

• Several targets ready for next stage of focussed deeper drilling

Sheffield Resources (“Sheffield”) (ASX:SFX) today announced the identification of 12 substantial new nickel and gold targets on recently granted tenements at its Fraser Range project.

The granted tenements are located within the northern foreland region of the Tropicana Belt adjacent to the Fraser Complex (Figure 1). The tenements are situated approximately 240km south of the Tropicana gold mine and 30km northwest of Sirius Resources NL’s (ASX:SIR) Nova/Bollinger Nickel-Copper deposit.

A review of past exploration has identified five substantial new nickel targets associated with late stage ultramafic intrusions. The ultramafic rocks are thought to have intruded deepseated structures separating the Yilgarn Craton from the Fraser Complex. Only one nickel anomaly has been tested by drilling, as gold was the principal focus of previous explorers.

The tenements also contain seven gold targets delineated by early stage historic shallow drilling programmes by explorers targeting the region for Tropicana style gold mineralisation.

Managing Director, Bruce McQuitty said Sheffield has assembled a large and strategic tenement holding within the highly prospective Fraser Range Nickel Province and adjacent Tropicana Gold Belt.

“A substantial amount of historical early stage exploration has been completed over these tenements, providing well defined nickel and gold targets for follow up work. These targets have come at no cost to Sheffield.”

“Historically the region has been the focus of gold exploration with the majority of work completed prior to the discovery of Nova/Bollinger. It is clear from the review of past exploration that a number of promising new nickel targets remain untested.

“Our Fraser Range tenements continue to demonstrate high prospectivity and potential, and to deliver shareholder value we will continue to assess whether self-funded exploration and /or joint venture or divestment across parts of our Fraser Range package is best.

Sheffield Resources Ltd ACN 125 811 083 L1, 57 Havelock Street West Perth WA 6005 T: +61(0) 8 6424 8440 F: +61(0) 8 9321 1710

“Sheffield’s immediate focus is to deliver an updated PFS on the Thunderbird mineral sands project that will pave the way for commencement of a definitive feasibility study.”

==> picture [387 x 391] intentionally omitted <==

Figure 1: Location of recently granted tenements in the Fraser Range region

The recently granted exploration licences, E28/2481, E28/2453 and E63/1696, are located within Sheffield’s Fraser Range project (Figure 1). The project now comprises fifteen granted exploration licences and two applications over a total area of 2,131km[2] . A review of historic exploration has identified five new significant nickel targets and seven advanced gold targets on the recently granted tenements, as outlined below.

Nickel Targets

The nickel targets occur on E28/2481 “Oak Dam” which is located around 50km to the north of Sirius’s Nova/Bollinger Nickel-Copper deposit. The targets are associated with mafic/ultramafic intrusions within the northern foreland zone (Tropicana Belt) of the Albany-Fraser Orogenic Belt. This is a zone of intense deformation which has been exploited by late stage differentiated ultramafic, mafic and carbonitite intrusive complexes.

The five targets, named Dreadnought, Depth Charge, Lifeboat, Torpedo and Frigate, are defined by historical auger soil sampling undertaken by AngloGold Ashanti Ltd (“AngloGold”) (as manager of the Tropicana JV with Independence Group NL). The nickel soil anomalies are associated with magnetic highs (Figure 2) and sporadic outcrop of ultramafic rocks. Limited reconnaissance rock chip sampling undertaken by Sheffield has confirmed elevated nickel values associated with these targets.

==> picture [304 x 348] intentionally omitted <==

Figure 2: E28/2481 Oak Dam nickel soil anomalies on magnetic image showing location of nickel and gold prospects

Dreadnought

The Dreadnought soil nickel anomaly located within E28/2481 is associated with a northeast trending magnetic high with a strike length of over two kilometres. The magnetic feature correlates with a small outcrop of highly weathered, ferruginous and silicified ultramafic rock.

The very strong nickel soil anomaly (>140ppm Ni) has a strike length of more than 1.5km and a width of 350m, with a maximum value of 1,274ppm Ni . The core of the anomaly comprises 6 samples assaying over 400ppm Ni. Sheffield’s rock chip sampling of a weathered ultramafic returned a maximum value of 1.15% Ni (Table 2, Appendix 1).

Historic trenching across the ultramafic unit, thought to date from the early 1970s is the only evidence of prior exploration for nickel at Dreadnought (Figure 3).

Depth Charge

The Depth Charge anomaly overlies the southern portion of a 14km long trend comprising a series of discontinuous ultramafic intrusions with varying degrees of magnetic anomalism. A strong soil anomaly (>140ppm Ni) approximately 1.6km long and up to 300m wide occurs at the southern end of this trend. Auger soil samples retuned a maximum value of 696ppm Ni .

==> picture [245 x 184] intentionally omitted <==

Figure 3: Historic trenching of ferruginous talc-carbonate altered ultramafic from Dreadnought

Widely spaced aircore drilling (400m x 100m) by AngloGold intersected mafic to ultramafic granulites within quartzofeldspathic gneisses. AngloGold noted trace amounts of sulphide in the ultramafic rocks and considered the geological setting to be highly prospective for nickel mineralisation. Consequently, selected drill holes were re-assayed for nickel. Significant intersections include:

• 34m at 0.18% Ni , 242ppm Cu, 93ppm Co, 26ppb Pd and 21ppb Pt from surface to end of hole (DCA100), including 4m @ 0.32% Ni , 520ppm Cu, 105ppm Co, 70ppb Pd and 60ppb Pt from 20m

• 48m @ 0.17% Ni , 33ppm Cu, 96ppm Co, 6ppb Pt from surface to end of hole (DCA102) including 4m @ 0.36% Ni , 48ppm Cu, 205ppm Co and 5ppb Pt from 12m

• (>0.1% Ni cut-off, refer to Appendix 1, Table 1 for full details).

An end-of-hole multi-element sample from drill hole DCA100 returned highly elevated copper and nickel results comprising 1m @ 0.25% Ni and 0.11% Cu from 33m (EOH sample).

Life Boat

The Life Boat prospect is located along the same ultramafic trend as Depth Charge and is defined by a single anomalous auger soil sample of 167ppm Ni associated with an aeromagnetic high. The auger sampling grid at Life Boat is 400m x 100m.

Torpedo

The Torpedo prospect is located at the north-eastern end of the 14km long trend that contains both Life Boat and Depth Charge. The nickel soil anomaly (>140ppm Ni) at Torpedo, as defined from 400m x 100m auger sampling, has a strike length of 1.6km and a width of 300m with a maximum value of 443ppm Ni .

Frigate

The Frigate prospect differs from the other nickel targets as it is associated with a magnetic low. Historic auger soil sampling (at 400m x 100m spacing) attained values of up to 332ppm Ni at the 1.25km by 500m wide (>140ppm Ni) anomaly. Sheffield obtained 889ppm Ni from a rock chip sample of iron stained tremolite-actinolite schist outcropping near this locality (Table 2).

Gold Targets

Within recently granted exploration licences E28/2481, E28/2453 and E63/1696 historic exploration by companies such as AngloGold and Sipa Resources Ltd (“Sipa”, ASX:SRI) has identified seven substantial gold exploration targets.

The exploration completed to date comprises early stage auger soil sampling and widespread shallow aircore dilling with minor follow-up RC and diamond drilling. This thorough, high quality early stage exploration has positioned the project for the next stage of focussed deeper drilling and evaluation.

==> picture [316 x 361] intentionally omitted <==

Figure 4: E28/2453 and E63/1696 - location of gold targets on magnetic image

Dragon Fly (E28/2481)

The Dragon Fly gold prospect features gold mineralisation associated with tabular zones of biotite-carbonate-sericite-pyrite alteration in a host lithology of intermediate to felsic garnet bearing gneiss, quartz-feldspar garnet gneiss and minor amphibolite.

AngloGold undertook extensive pedogenic calcrete auger drilling over Dragon Fly on a 100m by 400m grid which outlined a 1.6km by 0.6km gold anomaly (Au > 10ppb ), within a larger but discontinuous gold anomalous region of 6km by 4km. Aircore drilling produced a best intersection of:

 9m @ 1.30g/t Au from 24m (DFA021), including 4m @ 2.67g/t Au from 28m. (>0.1g/t Au cut-off, refer to Appendix 1, Table 6 for full details).

A total of 25 reverse circulation holes were drilled for 3,834m on a 200m x 50m spacing, with one diamond hole drilled to 183.6m depth down-hole. Significant intersections include:

• 8m @ 0.96g/t Au from 27m and 4m @ 0.97g/t Au from 46m (DFRC004);

• 8m @ 1.00g/t Au from 39m (DFRC009), including 1m @ 3.08g/t Au from 42m;

• 2m @ 1.11g/t Au from 74m; 1m @ 5.36g/t Au from 78m and 6m @ 1.12g/t Au from 85m (DFRC011);

• 2m @ 2.29g/t Au from 50m , including 1m @ 4.04g/t Au from 51m (DFRC020)

• (>0.5g/t Au cut-off, refer to Appendix 1, Table 4 for full details).

Drilling has confirmed the presence of a large alteration system and that the mineralisation remains open at depth.

Scorpion (E28/2481)

The Scorpion prospect comprises two pedogenic calcrete auger gold (>10ppb Au) anomalies. The northern anomaly has dimensions of 1.8km by 0.4km with a maximum value of 178ppb Au while the southern anomaly is 1km by 0.3km with a maximum value of 85ppb Au. AngloGold drilled a total of 119 aircore holes for 2,818m at 400m x 100m spacing. A single line of three RC holes spaced at 100m were drilled at the southern zone returning a best intersection of:

 2m @ 2.6g/t Au from 115m (SNRC005)

• (>0.5g/t Au cut-off, refer to Appendix 1, Table 4 for full details).

The northern anomaly was not tested by RC drilling. Gold mineralisation was found to be associated with mafic units within a dominantly granitic domain.

Tomahawk (E28/2481)

The Tomahawk prospect has a 2km by 0.2km pedogenic calcrete auger anomaly with a maximum value of 43ppb Au (400m x 100m auger spacing). A second pedogenic anomaly (1km by 0.4km) occurs just to the northeast of Tomahawk. Although AngloGold’s initial shallow aircore drilling of these targets (at 400m x 100m spacing) returned only weakly anomalous results, they are located in a structural setting considered prospective for Tropicana-style gold mineralisation.

Theofrastos (E28/2453)

The Theofrastos gold prospect, situated within E28/2453, was previously explored by Sipa Resources Ltd. Auger drilling outlined a pedogenic calcrete gold anomaly of 6km by 2km with a maximum value of 85ppb Au (Figure 5). The soil anomaly has been tested by extensive RAB and aircore drilling which was followed by 27 RC drill holes.

The best intersection obtained by Sipa was;

• 10m @ 1.29g/t Au from 64m, including 1m @ 7.8g/t Au from 71m (TFC010)

• (>0.1g/t Au, refer to Sipa’s ASX announcement dated 26 May, 2011 for full details)

The mineralised lodes occur in altered felsic gneiss and schist within an albite-tremolite-biotite alteration zone containing disseminated pyrite and trace amounts of chalcopyrite and molybdenite. The lodes strike north-northeasterly and dip shallowly to the southeast.

==> picture [351 x 527] intentionally omitted <==

Figure 5: Historic Sipa (2006-2012) soil auger drilling gold results within Sheffield’s E28/2453

Heraclitus (E28/2453)

Heraclitus is located 4km to the southeast of Theofrastos. It has an 8km by 2km pedogenic calcrete gold anomaly (>10ppb Au) with a maximum value of 68ppb Au (Figure 5). The anomaly has been tested with extensive RAB and aircore drilling with minor RC follow-up (12 holes). Significant intersections include;

• 1m @ 9.1g/t Au from 93m (HRC001);

• 1m @ 1.01g/t Au from 75m (HEC008); and

• 1m @ 2.08g/t Au from 67m (HEC009)

(>0.1g/t Au, refer to Sipa’s Quarterly Report 31 January 2011and ASX announcement 18 February 2010 for details).

Mineralisation occurs over a strike length of 2.5km with the main zone of mineralisation still open to the south-west. The mineralisation is between 10m and 20m thick and dips moderately to the south. It is hosted by a discrete zone of biotite gneiss containing minor garnet and tourmaline.

==> picture [380 x 274] intentionally omitted <==

Figure 6: Drill section at Heraclitus prospect showing continuity of anomalous gold mineralisation

(Sipa ASX release dated 18 February 2010)

Leuccipus (E28/2453)

The Leuccipus prospect was initially delineated by a 2km by 0.6km pedogenic calcrete auger anomaly with a maximum value of 62ppb Au. Sipa completed a detailed first pass RAB (433 holes for 12,875m) and aircore (22 holes for 88m) drilling programme across the soil anomaly. This delineated a more discrete 0.5km by 1km end-of-hole gold anomaly.

A summary of significant RAB results were reported by Sipa in their ASX announcement of 15 August, 2011. Best results include;

• 7m @ 0.37g/t Au from 20m to end of hole, including 1m @ 1.0 g/t Au from 26m (WDR1816);

• 10m @ 0.65g/t Au from 20m to end of hole, including 1m @ 3.5 g/t Au from 29m (WDR1817)

• (>0.1g/t Au)

Mineralisation is hosted by a sericite-chlorite-tourmaline felsic volcanic schist. The target is yet to be tested by RC drilling.

==> picture [438 x 238] intentionally omitted <==

Figure 7: Drill section at Leuccipus prospect with significant gold intersections (Sipa ASX release dated 15 August 2011)

Leila (E63/1696)

At the Leila prospect, regional pedogenic calcrete auger sampling was undertaken by Sipa on a 0.2km by 1km grid, closing into a 0.1km to 0.2km grid over the main target. A maximum value of 86ppb Au was obtained. RAB drilling to a maximum depth of 54m, on a 50m by 200m grid, returned the following significant intersections:

• 2m @ 1.46g/t Au from 20m and 5m at 0.24 g/t Au from 24m (WDR3013);

• 4m at 0.61g/t Au from 29m (WDR3033)

• (>0.1g/t Au cut-off, refer to Appendix 1, Table 6 for full details).

The target is yet to be tested by RC drilling.

Summary

Extensive first pass exploration programs completed in recent times by gold explorers AngloGold and Sipa have identified twelve nickel and gold exploration targets within the recently granted tenements that warrant follow up work. In several cases the targets are ready for the next stage of focussed deeper drilling.

Sheffield’s Fraser Range tenements continue to demonstrate high prospectivity and potential, and to deliver shareholder value. The Company will continue to assess whether self-funded exploration and /or joint venture or divestment across parts of our Fraser Range package is best.

==> picture [360 x 452] intentionally omitted <==

Figure 8: Location of Sheffield’s tenements in the Fraser Range (gravity + magnetics image)

ENDS

For further information please contact: Bruce McQuitty Managing Director Tel: 08 6424 8440 bmcquitty@sheffieldresources.com.au

Media: Luke Forrestal Cannings Purple Tel: 08 6314 6303 lforrestal@canningspurple.com.au

Website: www.sheffieldresources.com.au

COMPLIANCE STATEMENTS

The information in this report that relates to Exploration Results is based on information compiled by Mr David Boyd, a Competent Person who is a Member of Australian Institute of Geoscientists (AIG). Mr Boyd is a full-time employee of Sheffield Resources Ltd and 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’. Mr Boyd consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

PREVIOUSLY REPORTED INFORMATION

This report includes information that relates to Exploration Results which were prepared and first disclosed in ASX announcements under the JORC Code (2004) by Sipa Resources Limited (ASX:SRI). The information was extracted from Sipa Resources’ previous ASX announcements as follows:

• “ENCOURAGING DRILLING RESULTS AT WOODLINE” , 18 February 2010.

• “ASX DECEMBER 2010 QUARTERLY REPORT” , 31 January, 2011.

• ASX ANNOUNCEMENT 26 May 2011

• “ ASX JUNE 2011 QUARTERLY REPORT ” , 29 July 2011 .

• “ BREAKTHROUGH RESULTS AT WOODLINE ” , 15 August 2011 .

Sheffield is not aware of any new information or data that materially affects the information included in the original market announcements. Sheffield confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement(s).

FORWARD LOOKING AND CAUTIONARY STATEMENTS

Some statements in this report regarding estimates or future events are forward-looking statements. They involve risk and uncertainties that could cause actual results to differ from estimated results. Forward-looking statements include, but are not limited to, statements concerning the Company’s exploration programme, outlook, target sizes and mineralised material estimates. They include statements preceded by words such as “anticipated”, “expected”, “likely” “should”, “scheduled”, “intends”, “potential”, “prospective” and similar expressions.

ABOUT SHEFFIELD RESOURCES

Sheffield Resources Limited ( Sheffield ) is a rapidly emerging heavy mineral sands (HMS) company.

ASX Code:	SFX	Market Cap @ 49.5cps	$66.5m
Issued shares:	134.4m	Cash: $5.2m

Sheffield’s projects are all situated within the state of Western Australia and are 100% owned by the Company.

HEAVY MINERAL SANDS

The Dampier project, located near Derby in WA’s northwest, contains the large, high grade zircon-rich Thunderbird HMS deposit. Sheffield’s pre-feasibility study shows Thunderbird can generate strong cash margins from globally significant levels of production over a 32 year mine life.

The Eneabba project comprises multiple HMS deposits and is located near Eneabba approximately 140km south of the port of Geraldton in WA’s Mid-West region.

Sheffield is also evaluating the large McCalls chloride ilmenite project, located 110km to the north of Perth.

NICKEL-COPPER

Sheffield has over 2,000km[2] of tenure in the Fraser Range region, including the Red Bull project which is within 20km of Sirius Resources NL’s (ASX:SIR) Nova Ni-Cu deposit.

Appendix 1: Summary tables of historic assay results

Table 1: AngloGold Air Core Results at Oak Dam Ni >1,000ppm (including Ni >2,500ppm)

Hole ID	Type	Easting	Northing	Depth (m)	Dip	Azimuth	From (m)	To (m)	Interval (m)	Ni (ppm)	Cu (ppm)	Co (ppm)	Pd (ppb)*	Pt (ppb)*
DCA100	AC	509496	6534202	34 -90 0 including			0	34	34	1792^	242	93	26	21
							20	24	4	3170	520	105	70	60
DCA101	AC	509605	6534201	43	-90	0	0	40	40	1554	42	100	<10	6
DCA102	AC	509704	6534194	48 -90 0 including			0	48	48	1729^	33	96	<10	6
							12	16	4	3640	48	205	<10	5
DCA110	AC	509413	6533794	42	-90	0	0	42	42	1616^	20	105	<10	<5
DCA112 DCA111	AC AC	509595 509513	6533809 6533812	30 -90 0 22 -90 0 including			0	30	30	1722^	17	89	<10	<5
							4 0	8 22	4 22	2790 1520^	22 31	145 91	<10 <10	5 <5

Sourced from Department of Mines open file report a102959 AngloGold and Independence Group Joint Venture "Tropicana Joint Venture, Tropicana Group 4 Project E28/1359, E28/1360, E28/1361 & E28/1362; Final Surrender Report for the Period 20/06/2005 to 11/06/2014". Intervals calculated from 1m to 4m composite samples, 2m minimum width =>0.5g/t (0.1%) Ni (no internal waste); including 1m minimum width =>2500ppm (0.25%) Ni (no internal waste). ^ denotes end of hole interval. Elements assayed by 4 acid digest. Detection limits for Ni, Cu and Co are 2ppm, 2ppm 5ppm respectively. *Pt and Pd assayed by aqua regia and determined with ICP quantitation. Detection limits for Pd and Pt are 10ppb and 5ppb respectively. Coordinates GDA94 MGA Zone 51 projection, grid azimuth, hole locations approximate using handheld GPS, +/- 5m accuracy.

Table 2: Sheffield Rock Chip assay result Oak Dam

Sample No	Type	Easting	Northing	**Ni(ppm) **	Cu(ppm)	Co(ppm)	**Pt(ppb) **	Pd(ppb)
SS08023	Rock Chip	516774	6543479	343.3	10.6	23.2	2	2
SS08024	Rock Chip	516727	6542962	81.3	24.2	50.5	2	X
SS08025	Rock Chip	516677	6540515	810	34.4	88.7	3	1
SS08026	Rock Chip	521575	6556333	888.8	28.4	77.7	5	1
SS08027	Rock Chip	519251	6558904	1001.7	4.9	58	X	X
SS08028	Rock Chip	519155	6559050	11451.5	13.8	520.9	2	6
SS08029	Rock Chip	519222	6558747	376.4	13.6	46.7	4	2
Sheffield rock chip samples approximately 2kg weight. Assayed by multi-element analysis fire assay
(Pd, Pt), four acid-MS (Co), ICP-OES(Cu, Ni). Coordinates GDA94 MGA Zone 51 projection, grid azimuth, hole locations approximate using handheld GPS, +/- 5m accuracy.

Table 3: AngloGold Oak Dam Soil Auger Ni >150ppm.

Prospect	Sample ID	Type	Easting	Northing	Depth	Ni (AR) (ppm)	Cu (ppm)	Co (ppm)
AngloGold Oak Dam Auger by Aqua Regia
Depth Charge	HZ20183	Auger	509504	6534198	NR	696	-1	57
Depth Charge	HZ20182	Auger	509601	6534201	NR	606	13	27
Depth Charge	TPAU66019	Auger	509402	6533803	NR	452	10	24
Depth Charge	HZ20181	Auger	509701	6534197	NR	390	17	7
Depth Charge	TPAU66018	Auger	509503	6533799	NR	260	7	15
Depth Charge	TPAU66017	Auger	509601	6533789	NR	189	8	12
Depth Charge	HZ20240	Auger	509001	6533396	NR	154	17	15
Depth Charge	HZ20239	Auger	509100	6533384	NR	150	14	16
Dreadnought	TPAU47893	Auger	519194	6558998	NR	1274	14	61
Dreadnought	TPAU47820	Auger	519499	6559418	NR	872	15	41
Dreadnought	TPAU47892	Auger	519294	6559001	NR	712	18	33
Dreadnought	TPAU47894	Auger	519099	6558993	NR	548	29	17
Dreadnought	TPAU47891	Auger	519401	6559015	NR	483	17	27
Dreadnought	TPAU47821	Auger	519598	6559398	NR	450	2	16
Dreadnought	TPAU47822	Auger	519716	6559405	NR	278	9	17
Dreadnought	TPAU47890	Auger	519487	6559002	NR	260	19	17
Dreadnought	TPAU47823	Auger	519793	6559395	NR	251	15	17
Dreadnought	TPAU48332	Auger	518885	6558192	NR	208	16	13
Dreadnought	TPAU48028	Auger	520601	6560200	NR	201	20	7
Dreadnought	TPAU48027	Auger	520702	6560202	NR	162	30	14
Frigate	TPAU45119	Auger	521597	6556597	NR	332	18	24.2
Frigate	TPAU45178	Auger	521293	6556993	NR	313	34	52.5
Frigate	TPAU61493	Auger	522701	6556189	NR	250	14	20
Frigate	TPAU45124	Auger	521591	6556200	NR	247	23	66.6
Frigate	TPAU45120	Auger	521697	6556607	NR	239	36	31.1
Frigate	TPAU45121	Auger	521800	6556595	NR	219	24	49.5
Frigate	TPAU61261	Auger	523201	6558600	NR	200	19	33
Frigate	TPAU45122	Auger	521780	6556205	NR	186	60	15.7
Frigate	TPAU45118	Auger	521494	6556601	NR	172	17	50.9
Frigate	TPAU45123	Auger	521703	6556205	NR	168	32	25
Frigate	TPAU45126	Auger	521397	6556196	NR	162	15	21.9
Frigate	TPAU61490	Auger	522997	6556193	NR	152	31	10
Life Boat	TPAU43965	Auger	514203	6538995	NR	167	31	24.9
SE of Frigate	HZ15274	Auger	523391	6555018	NR	182	5	15
South of Frigate	TPAU50775	Auger	522305	6554204	NR	197	19	16
Torpedo	TPAU41917	Auger	517393	6543000	NR	443	28	42.8
Torpedo	TPAU41910	Auger	516698	6543001	NR	342	40	36.3
Torpedo	TPAU42020	Auger	516901	6543403	NR	252	23	25.3
Torpedo	TPAU42021	Auger	517002	6543399	NR	233	18	27.9
Torpedo	TPAU41912	Auger	516902	6543002	NR	213	15	25.9
Torpedo	TPAU41911	Auger	516797	6542974	NR	172	20	20.7
	Sipa Theo Auger by Aqua Regia
	WDL1691640	Auger	478403	6500299	0	415	178	N/A
	WDL313911	Auger	481112	6498800	0	266	36	N/A
	341383	Auger	480701	6506002	0.5	216	146	N/A
	441587	Auger	487395	6490201	1.1	192	30	N/A
	WDL1710257	Auger	482504	6497200	0	187	47	N/A
	WDL313914	Auger	481709	6498802	0	162	79	N/A
	341385	Auger	480497	6505999	1.2	152	114	N/A
	Sipa Leila Auger by Aqua Regia
	324003	Auger	465795	6471079	1.2	328	52.5	N/A
	324002	Auger	465604	6471082	1.2	160	38.5	N/A
	Data sourced from Department of Mines open file report a102959 AngloGold and Independence Group Joint Venture "Tropicana Joint Venture, Tropicana Group 4 Project E28/1359, E28/1360, E28/1361 & E28/1362; Final Surrender Report for the Period 20/06/2005 to 11/06/2014" and (a101688) Sipa "Final Surrender Report for the Period 2 March 2005 to 6 February 2014, Woodline Project, E28/1483" and (a101539) Sipa "Final Surrender Report for the Period 14 April 2009 to 9 February 2014. Woodline Project Tenement E63/1043", (a102354) Comet "Combined reporting group C21-2007 Woodline Project Exploration Licences 28/1412, 28/1495 and 28/1657 Final Surrender Report'. Cut-off =>150ppm. Elements assayed aqua regia graphite furnace (25g). Detection limits for Ni 1ppm. N/A not assayed. Coordinates GDA94 MGA Zone 51 projection, grid azimuth, hole locations approximate using handheld GPS, +/- 5m accuracy.

Table 4: Historic Drilling Results by Fire Assay Au >0.5g/t (including Au >2.5g/t)

Hole ID	Type	Easting	Northing	Depth (m)	Dip	Azimuth	From (m)	To (m)	Interval (m)	Au (FA) (g/t)
Anglo Oak Dam Drilling by Fire Assay
DFD001	Diamond	522889	6560403	184	-60	270	No significant intersection
DFRC001	RC	522862	6560812	149	-60	270	33	35	2	1.30
DFRC002	RC	522918	6560811	149 -60 270 and			46	50	4	0.54
							55	58	3	0.91
DFRC003	RC	522964	6560807	155	-60	270	No significant intersection
DFRC004	RC	522827	6560616	149 -60 270 and			27	35	8	0.96
							46	50	4	0.97
DFRC005	RC	522879	6560615	153	-60	270	No significant intersection
DFRC006	RC	522928	6560616	160 -60 270 and			71	73	2	1.55
							89	92	3	0.96
DFRC007	RC	522787	6560406	160	-60	270	29	32	3	0.90
DFRC008	RC	522840	6560400	150	-60	270	No significant intersection
DFRC009	RC	522794	6559807	149 -60 270 including	-60		39 42	47 43	8 1	1.00 3.08
DFRC010	RC	522845	6559805	150 -60 270 and			54	56	2	1.93
							62	71	9	1.00
DFRC011	RC	522895	6559803	150 -60 270 and also			74 78	76 79	2 1	1.11 5.36
							85	91	6	1.12
DFRC020	RC	522949	6560978	155 -60 270 including			50	52	2	2.29
							51	52	1	4.04
DFRC021	RC	523007	6560976	167	-60	270	63	65	2	1.07
DFRC022	RC	523049	6560977	155	-60	270	137	138	1	3.44
DFRC026	RC	521851	6560202	150	-60	270	No significant intersection
DFRC027	RC	521898	6560201	150	-60	270	No significant intersection
DFRC028	RC	521950	6560200	150	-60	270	No significant intersection
DFRC029	RC	522750	6560206	150	-60	270	No significant intersection
DFRC030	RC	522800	6560204	160	-60	270	No significant intersection
DFRC031	RC	522850	6560203	173	-60	270	No significant intersection
DFRC032	RC	522899	6560201	125	-60	270	No significant intersection
DFRC033	RC	522765	6560004	155	-60	270	No significant intersection
DFRC034	RC	522812	6560003	150	-60	270	22	25	3	1.00
DFRC035	RC	522860	6560002	150	-60	270	45	48	3	1.00
SNRC002	RC	523420	6550210	150	-60	270	Can not source data
SNRC004	RC	523520	6550210	162	-60	270	No significant intersection
SNRC005	RC	523620	6550210	150 -60 270 including			115	117	2	2.60
							115	116	1	2.79
Sipa Theo Drilling by Fire Assay
HEC002^	RC	485499	6488288	100	-90	0	28	32	4	1.21
HEC003^	RC	485530	6488235	100	-90	0	No significant intersection
HEC004^	RC	485582	6488283	100	-90	0	No significant intersection
HEC005^	RC	485658	6488283	100	-90	0	No significant intersection
HEC006^	RC	485738	6488286	105	-90	0	94	98	4	0.72
HEC007^	RC	485813	6488279	100	-90	0	No significant intersection
HEC008^	RC	486311	6488432	105	-90	0	No significant intersection
HEC009^	RC	486604	6488608	100	-90	0	No significant intersection

Sourced from Department of Mines open file report a102959 AngloGold and Independence Group Joint Venture "Tropicana Joint Venture, Tropicana Group 4 Project E28/1359, E28/1360, E28/1361 & E28/1362; Final Surrender Report for the Period 20/06/2005 to 11/06/2014" *and (a101688) Sipa "Final Surrender Report for the Period 2 March 2005 to 6 February 2014, Woodline Project, E28/1483". Intervals calculated from min 1m samples, 2m minimum width =>0.5g/t (1m internal waste); including 1m minimum width =>2.5g/t (no internal waste). Elements assayed by 50g fire assay, ^ different lab. Detection limits for Au 0.005ppm. Coordinates GDA94 MGA Zone 51 projection, grid azimuth, hole locations approximate using handheld GPS, +/- 5m accuracy.

Table 5: Historic RC Drilling Results by Aqua Regia Au >0.5g/t (including Au >2.5g/t)

Hole ID	Type	Easting	Northing	Depth (m)	Dip	Azimuth	From (m)	To (m)	Interval (m)	Au (AR) (g/t)
Sipa Theo Drilling by Aqua Regia
HEC001	RC	485659	6488217	130	-55	270	103	104	1	9.14
TFR001	RC	483275	6490000	102	-60	0	No significant intersection
TFR002	RC	483225	6490000	120	-60	0	No significant intersection
TFR003	RC	483265	6489999	144	-60	0	No significant intersection
TFR004	RC	482675	6490005	75	-60	0	No significant intersection
TFR005	RC	482722	6490005	120	-60	0	No significant intersection
TFR006	RC	481975	6488180	136	-60	0	No significant intersection
TFR007	RC	482025	6488180	150	-60	0	No significant intersection
TFR008	RC	482125	6487830	100	-60	0	No significant intersection
TFR009	RC	482175	6487830	162	-60	0	No significant intersection
TFR010	RC	482525	6489010	120 -60 0 and inc.	-60		64 70 71	70 75 72	6 5 1	0.58 1.13 7.80
TFR011	RC	482575	6489005	152	-60	0	100	105	5	0.62
TFR012	RC	482475	6489020	110	-60	0	No significant intersection
TFR013	RC	483175	6488975	95	-90	0	No significant intersection
TFR014	RC	484475	6491005	100	-90	0	No significant intersection
TFR015	RC	483425	6491000	126	-60	0	No significant intersection
TFR016	RC	483475	6491000	140	-60	0	No significant intersection
TFR017	RC	483625	6491215	93	-60	0	No significant intersection
TFR018	RC	483675	6491215	120	-60	0	No significant intersection
TFR019	RC	484515	6491200	78	-90	0	No significant intersection
TFR020	RC	484715	6491465	86	-90	0	No significant intersection
TFR021	RC	483325	6490775	138	-60	0	No significant intersection
TFR022	RC	483375	6490775	120	-60	0	No significant intersection
TFR023	RC	483075	6490500	81	-90	0	No significant intersection
TFR024	RC	483275	6490500	174	-90	0	No significant intersection
TFR025	RC	483425	6490250	100	-60	0	No significant intersection
TFR026	RC	483475	6490250	125	-60	0	No significant intersection
TFR027	RC	481920	6488180	108	-90	0	No significant intersection

Results sourced from Department of Mines open file report a101688 Sipa Exploration NL "Final Surrender Report for the Period 2 March 2005 to 6 February 2014, Woodline Project, E28/1483". Intervals calculated from min 1m samples, 2m minimum width =>0.5g/t (1m internal waste); including 1m minimum width =>2.5g/t (no internal waste). Elements assayed aqua regia. Detection limits for Au 1ppb (0.001g/t). Coordinates GDA94 MGA Zone 51 projection, grid azimuth, hole locations approximate using handheld GPS, +/- 5m accuracy.

Table 6: RAB and Aircore Drilling Results by Aqua Regia Au >100ppb (including Au >2500ppb)

Prospect	Hole ID	Type	Easting	Northing	Depth (m)	Dip	Azimuth	From (m)	To (m)	Interval (m)	Au (AR) (ppb)
	Anglo Oak Dam Drilling by Aqua Regia
	DFA012	AC	522925	6560976	40	-90	0	28	36	8	346
	DFA021	AC	522809	6560607	33	-90	0	24	33	9	1303
					including			28	32	4	2669
	DFA033	AC	521817	6560188	34	-90	0	28	32	4	400
	PTA162	AC	516400	6544705	72	-90	0	68	72	4	272
	Sipa Theo Drilling by Aqua Regia
Heraclitus	WDR108	RAB	486450	6488585	38 -90 0 and			26 31	28 37	2 6	293 724
Heraclitus	WDR109	RAB	486398	6488597	42	-90	0	17	21	4	1212
Heraclitus	WDR774	RAB	487351	6490503	51	-90	0	46	51	5	333
Heraclitus	WDR983	RAB	485496	6488343	34	-90	0	32	34	2	349
Heraclitus	WDR992	RAB	485956	6488481	33	-90	0	22	26	4	240
Heraclitus	WDR1540	RAB	485400	6488185	46 -90 0 including and	-90		35 35 41	40 36 43	5 1 2	1394 4770 443
Heraclitus	WDR1541	RAB	485497	6488206	41 -90 0 and			32 39	35 41	3 2	145 133
Therafrastos	WDR720	RAB	482102	6487814	46 -90 0 and			36 44	43 46	7 2	597 228
Therafrastos	WDR731	RAB	481943	6488179	34 -90 0 including			29	34	5	1125
								31	32	1	2530
Therafrastos Therafrastos	WDR757 WDR1247	RAB	483147 483151	6488973 6490004	39	-90	0	32	34	2	985
		RAB			37	-90	0	34	36	2	256
Therafrastos	WDR1248	RAB	483210	6489999	36	-90	0	34	36	2	289
Therafrastos	WDR1362	RAB	482954	6488800	55	-90	0	51	54	3	185
Therafrastos	WDR1492	RAB	482550	6487418	38	-90	0	34	36	2	269
Therafrastos	WDR1512	RAB	482503	6487180	52	-90	0	50	52	2	409
Therafrastos	WDR1725	AC	482793	6488398	53 -90 0 including			45	51	6	1272
								47	48	1	4260
Therafrastos	WDR1748	RAB	482726	6489605	78	-90	0	35	45	10	191
Therafrastos	WDR1752	RAB	482517	6487185	80	-90	0	60	65	5	158
Leucippus	WDR963	RAB	482652	6500978	31	-90	0	26	29	3	240
Leucippus	WDR1845	RAB	483049	6501606	29	-90	0	0	21	21	125
Leucippus	WDR1948	RAB	482752	6500802	36	-90	0	20	30	10	289
Leucippus	WDR2020	RAB	482849	6498001	31	-90	0	20	31	11	248
Leucippus	WDR2023	RAB	483004	6498011	25	-90	0	10	20	10	138
Leucippus	WDR2064	RAB	483250	6497597	33	-90	0	30	33	3	257
	Sipa Leila Drilling by Aqua Regia
	WDR2833	RAB	468648	6473511	42	-90	0	20	30	10	117
	WDR2936	RAB	468798	6473517	36	-90	0	0	20	20	105
	WDR3013	RAB	468000	6472094	32	-90	0	20	22	2	1464
					and			24	29	5	235
	WDR3033	RAB	468040	6472301	37	-90	0	29	33	4	606
	WDR3040	RAB	468403	6472287	44	-90	0	30	34	4	319

Data sourced from Department of Mines open file report a102959 AngloGold and Independence Group Joint Venture "Tropicana Joint Venture, Tropicana Group 4 Project E28/1359, E28/1360, E28/1361 & E28/1362; Final Surrender Report for the Period 20/06/2005 to 11/06/2014" and (a101688) Sipa Exploration NL "Final Surrender Report for the Period 2 March 2005 to 6 February 2014, Woodline Project, E28/1483" and (a101539) Sipa "Final Surrender Report for the Period 14 April 2009 to 9 February 2014. Woodline Project Tenement E63/1043" (a102354), Comet "Combined reporting group C21-2007 Woodline Project Exploration Licences 28/1412, 28/1495 and 28/1657 Final Surrender Report'. Intervals calculated from min 1m samples, 2m minimum width =>100ppb; including 2m minimum width =>100ppb (no internal waste). Elements assayed aqua regia graphite furnace (25g). Detection limits for Au 1ppb. Coordinates GDA94 MGA Zone 51 projection, grid azimuth, hole locations i t i h dh ld GPS / 5

Table 7: Auger Samples Aqua Regia Au >50ppb

Prospect	Sample ID	Type	Easting	Northing	Depth	Au (AR) (ppb)
	AngloGold Oak Dam Auger by Aqua Regia
Dragonfly	TPAU48144	AUGER	522798	6560596	NR	73
Dragonfly	TPAU47980	AUGER	522599	6559802	NR	66
Dragonfly	TPAU47981	AUGER	522695	6559800	NR	63
Dragonfly	TPAU48167	AUGER	522902	6561004	NR	56
Life Boat	TPAU43217	AUGER	514204	6539795	NR	151
Regional (SW Dragonfly)	TPAU45170	AUGER	520500	6557003	NR	61
Regional (SW Dragonfly)	TPAU45181	AUGER	520504	6557402	NR	58
Regional S Dreadnought)	TPAU47760	AUGER	518810	6556997	NR	60
Regional (SW Dragonfly)	TPAU45182	AUGER	520599	6557406	NR	57
Scorpion	TPAU50736	AUGER	523097	6552601	NR	178
Scorpion	TPAU44395	AUGER	523405	6550207	NR	85
Scorpion	TPAU44394	AUGER	523300	6550206	NR	68
Tomahawk	TPAU74666	AUGER	511144	6537300	NR	43
	Sipa Theo Auger by Aqua Regia
Leucippus	341192	Auger	482702	6501949	0.3	285
Theofrastus	325138	Auger	482600	6489000	1.2	85
Theofrastus	325116	Auger	485000	6490991	1.2	77
Theofrastus	325140	Auger	482401	6489033	1.2	72
Heraclitus	316400	Auger	486499	6488701	1.2	68
Leucippus	324274	Auger	482597	6501406	0.3	62
Theofrastus	316251	Auger	482101	6487803	1.2	58
Theofrastus	324865	Auger	483701	6491789	1.2	54
Theofrastus	316067	Auger	483300	6490902	1.2	54
Theofrastus	324934	Auger	483602	6489501	0.4	53
Parmendies	188712	Auger	478997	6506498	1.1	53
Parmendies	188612	Auger	480352	6503106	0.8	53
Theofrastus	324834	Auger	483202	6492002	1.2	52
Leucippus	341196	Auger	483085	6501948	0.4	51
Theofrastus	325139	Auger	482500	6489016	1.2	50
Theofrastus	325135	Auger	482900	6488983	1.2	50
Theofrastus	324929	Auger	482601	6489501	1.2	50
	Sipa Leila Auger by Aqua Regia
	340607	Auger	468500	6472505	1.2	86
	340645	Auger	468804	6472902	1.2	86
	340762	Auger	468979	6474286	1.2	63
	340540	Auger	467901	6471699	1.2	62
	340628	Auger	468599	6472700	1.2	59
	340628	Auger	468599	6472700	1.2	58
	340762	Auger	468979	6474286	1.2	58
	340763	Auger	468899	6474301	0.4	57
	340591	Auger	468206	6472302	1.2	54
	340604	Auger	468202	6472499	1.2	52
	340561	Auger	467699	6471903	1.2	51

Data sourced from Department of Mines open file report a102959 AngloGold and Independence Group Joint Venture "Tropicana Joint Venture, Tropicana Group 4 Project E28/1359, E28/1360, E28/1361 & E28/1362; Final Surrender Report for the Period 20/06/2005 to 11/06/2014" and (a101688) Sipa "Final Surrender Report for the Period 2 March 2005 to 6 February 2014, Woodline Project, E28/1483" and (a101539) Sipa "Final Surrender Report for the Period 14 April 2009 to 9 February 2014. Woodline Project Tenement E63/1043", (a102354) Comet "Combined reporting group C21-2007 Woodline Project Exploration Licences 28/1412, 28/1495 and 28/1657 Final Surrender Report'. Cut-off =>50ppb. Elements assayed aqua regia graphite furnace (25g). Detection limits for Au 1ppb. Coordinates GDA94 MGA Zone 51 projection, grid azimuth, hole locations approximate using handheld GPS, +/- 5m accuracy.

Appendix 2: JORC (2012) Table 1 Report, Historic DMP Open file results 11 February 2014.

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Sampling		Nature and quality of sampling (e.g. cut	Oak Dam
techniques		channels, random chips, or specific		Anglo undertook 5,086 surface samples
		specialised industry standard		including wide spaced calcrete samples,
		measurement tools appropriate to the		extensive auger sampling, and rock chips.
		minerals under investigation, such as down		Sheffield have taken 7 rock chips.
		hole gamma sondes, or handheld XRF		397 calcrete samples collected by
		instruments, etc). These examples should		AngloGold in 2005 on a 500 x 1000m.
		not be taken as limiting the broad		Restricted by depth of hand auger
		meaning of sampling.		between 0.1 to 0.6m targeting calcrete
		Include reference to measures taken to		zones. Post 2005 mechanical auger
		ensure sample representivity and the		sampling utilised. Single sample submitted
		appropriate calibration of any		for aqua regia multi-element analysis.
		measurement tools or systems used.		AngloGold Auger totalling 4,664 samples
		Aspects of the determination of		undertaken between 10/2007 and 05/2012
		mineralisation that are Material to the		by ProDrill Pty LTD with a LV mounted rig to
		Public Report.		max depth of 2.5m. Typically 100m x 400m
		In cases where ‘industry standard’ work		or 100m x 200m with single sample taken
		has been done this would be relatively		from the zone of greatest carbonate
		simple (e.g. ‘reverse circulation drilling was		reactivity down-hole. Samples were not
		used to obtain 1 m samples from which 3		sieved and averaged 300-500g. Locations
		kg was pulverised to produce a 30 g		acquired using GPS device attached to a
		charge for fire assay’). In other cases more		Trimble Nomad. Two laboratories used
		explanation may be required, such as		(SGS Laboratory services and Genalysis
		where there is coarse gold that has		Laboratory Services)
		inherent sampling problems. Unusual		AngloGold Rock chips taken from outcrop
		commodities or mineralisation types (e.g.		and float totalling 25 samples by
		submarine nodules) may warrant		AngloGold. Sheffield has taken 7 rock
		disclosure of detailed information.		chips assayed by multi-element suite fire
				assay (Au, Pd, Pt), XRF(Al2O3, BaO, CaO,
				Cr2O3, Fe2O3, K2O, MgO, MnO, Na2O,
				P2O5, SO3, SiO2, TiO2, Total, LOI) four acid-
				MS_(Ag, _As, Ba, Be, Bi, Cd, Ce, Cs, Co, Ge,
				In, Li, Mo, Pb, Re, Sb, Se, Te, Tl, , C, , Dy, Er,
				Eu, Ga, Gd, Hf, Ho, , La, Lu, Nb, Nd, Pr, Rb,
				S, Sm, Sn, Sr, Ta, Tb, Th, Tm, U, W, Y, Yb, Zr,),
				ICP-OES(Cu, Cr, Ni, Sc, V, Zn,).
			Theo
				Newmont, Sipa and Comet 3,826 surface
				samples including wide spaced extensive
				auger sampling, soil, stream and rock
				chips locations determined with handheld
				GPS to (+/-) 5m.
				Auger pedogenic calcrete totalling 3,290
				samples (Sipa 2871 for 2486.8m and 419
				Newmont holes depth unknown) between
				2001 and 2005. Sampling was undertaken
				with either a hand auger with a 4-wheel
				drive bike or an LV mounted rig. Sample
				depth is between 0.5m to 2m. First pass
				was on a 0.4km by 2km grid with
				anomalies refining to 0.1km by 0.1km over
				anomalies. Sample size was 800g, +2mm
				dry sieved calcrete samples determined
				with hydrochloric acid. All samples were
				assayed at Ultratrace Laboratories by
				aqua-regia/MS.

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
				470 soil (4 Comet, 419 Newmont and 47
				Sipa) samples were collected between
				2006 and 2008 (2 stream in 2005). 300g of -
				2mm material from a depth of 15-20cm
				were collected on a 0.1km by 0.4km grid;
				refining to 25m by 50m spacing over
				anomalies. Locations acquired using a
				hand-held GPS. Analysis carried out by
				Ultratrace. No significant results were
				obtained.
				82 rock chip samples from Sipa and
				Newmont totalling 2-3kg were obtained
				from mainly ironstone and vein quartz.
				Locations were noted by hand-held GPS.
				No significant results obtained.
			Leila
				Sipa Auger pedogenic calcrete totalling
				570 samples for 631m between 2010 and
				2011. Sampling was undertaken with a
				hand auger. Sample depth is between
				0.5m to 2.2m. First pass was on a 0.2km by
				1km grid with anomalies refining to 0.1km
				by 0.2km over the central anomaly.
				Location was established by GPS +/-5m.
				Sample size was 800g, +2mm dry sieved
				calcrete samples determined with
				hydrochloric acid. All samples were
				assayed at Ultratrace Laboratories by
				aqua regia.
Drilling		Drill type (e.g. core, reverse circulation,	Oak Dam
techniques		open-hole hammer, rotary air blast, auger,		AngloGold AC totalling 905 holes for
		Bangka, sonic, etc) and details (e.g. core		29,323m, drilled vertically (apart from 15
		diameter, triple or standard tube, depth of		holes drilled 315/-60 drilled at Tomahawk)
		diamond tails, face-sampling bit or other		averaging 32.5m with a maximum depth
		type, whether core is oriented and if so, by		of 105m. Holes spaced 1km by 1.7km
		what method, etc).		regionally, to 0.1km to 0.2km at anomalies.
				Blade drill bit used for majority of drilling,
				where hard rock layers intersected (non-
				fresh rock) and unable to drill with blade
				bit a reverse circulation hammer used to
				penetrate layer, then return to blade, until
				blade refusal at base of weathering.
				AngloGold RC totalling 28 holes for 4,296m
				drilled 270/-60 averaging 153.5m to a
				maximum of 173m at Dragon Fly (25 holes
				for 3,834m, spaced 50m by 200m) in 2010
				and Scorpion (3 holes for 462m, spaced
				100m) in 2011. Carried out to test
				crystalline basement beneath weathered
				profile.
				A single AngloGoldNQ2 diameter DDH to
				183.6m with a RC pre-collar, in weathered
				regolith, to 54m drilled 270/-60 at
				Dragonfly in 09/2010. Carried out to assess
				north-south anomaly in AC and provide
				structural and lithological data.
			Theo
				RAB totalling1,799 holes totalling 61,764m
				drilled 000/-90 (8 holes at Heraclitus 000/-
				55) in 2006 to 2012; of which Sipa drilled
				1469 holes for 50,671m ‘WDR’, Newmont
				328 hole for 11,031m ‘NEWWLRB’ and

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
				Comet 2 holes for 62m ‘UTR’. Depth
				averages 34m with maximum at 90m.
				Drilling was on a 0.4km/ 0.2km by 2km grid,
				with infill on a general 50m by 200m/300m
				grid. Drilling was undertaken till hard
				basement rock.
				103 AC holes totalling 3,965m averaging
				38.5m to a maximum of 74m, drilled
				vertically; of which Sipa drilled 26 holes for
				937m ‘WDR’ and Newmont 77 hole for
				3,028m ‘NEWWLAC’. Drilled at RAB
				anomalies to 35m density, often singular
				lines. Drilling was undertaken till blade
				refusal.
				RC holes totalling 39 for 4,880m (23 holes
				270/-60, 1 hole 270/-55, 15 holes 000/-90);
				of which Sipa drilled 36 holes for 4115m
				‘HEC’ and ‘TFC’ and Newmont 3 hole for
				565 ‘NEWWLRC’. 3 holes drilled by
				Newmont in 2008 9/27 by Sipa in 2010/
				2011 respectively; at Theofrastus and
				Heraclitus. Depth averages 122m, with a
				maximum of 215m. Spacing was based
				on existing RAB anomalies to a minimum of
				75m.
			Leila
				RAB totalling 219 holes totalling 6,842m
				drilled 000/-90 in 2006 to 2012; by Sipa.
				Depth averages 31m with maximum at
				54m. Drilling was generally on a 50m by
				200m grid. Drilling was undertaken to
				blade refusal/hard basement rock.
Drill sample		Method of recording and assessing core	Oak Dam
recovery		and chip sample recoveries and results		AC samples collected from the cyclone in
		assessed.		single meter intervals. Compositing of
		Measures taken to maximise sample		samples laid on the ground by scooping
		recovery and ensure representative		(generally 4m) to 3kg for gold or multi-
		nature of the samples.		element analysis. EOH comprises the last
		Whether a relationship exists between		meter or two pending on recovery for
		sample recovery and grade and whether		multi-element analysis. If anomalous the
		sample bias may have occurred due to		samples were returned for single meter
		preferential loss/gain of fine/coarse		analysis. Sample quality (including wet vs.
		material.		dry and qualitative recovery) is logged at
				the drill site. AC system maximises sample
				recovery as opposed to open hole/RAB
				technique.
				RC sampled at 1m intervals collected via
				cyclone and cone splitter to 1:8 to a
				weight of ~3kg.
			Theo
				RAB and AC sampling was generally 10m
				composites were the last sample is a 2m to
				11m composite depending on hole depth.
				A separate sample was taken for the EOH.
				Sample weights are unknown.
				RC sampled by Newmont in 4m
				composite, assay method unknown. Sipa
				under took 1m to 10m composites. Sample
				weights are unknown. Duplicates
				randomly placed in every RC hole for both
				parties.
			Leila
				RAB sampling was generally 10m
				composites with the last sample a 2m to

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
				11m composite depending on hole depth.
				A separate sample was taken for the EOH.
				Sample weights are unknown.
Logging		Whether core and chip samples have	Oak Dam
		been geologically and geotechnically		AC and RC samples are geologically
		logged to a level of detail to support		logged by lithological boundaries to a
		appropriate Mineral Resource estimation,		minimum 1m downhole spacing using a
		mining studies and metallurgical studies.		coded system. Magnetic susceptibility
		Whether logging is qualitative or		readings were taken from 3kg calico
		quantitative in nature. Core (or costean,		samples on intervals (often 4m). Logging is
		channel, etc) photography.		suitable such that interpretations of grade
		The total length and percentage of the		and deposit geology can be used, for
		relevant intersections logged.		example, to establish context of
				exploration results.
				DDH core orientated with an Ace Core
				Tool
			Theo
				Logging of RAB, AC and RC holes are
				constrained by domain change on a 1m
				meter basis.
			Leila
				Logging of RAB holes is constrained by
				geologic domain change on a 1m meter
				basis.
Sub-sampling		If core, whether cut or sawn and whether	Oak Dam
techniques		quarter, half or all core taken.	Sub-sampling
and sample		If non-core, whether riffled, tube sampled,		A ~500g spear sample was taken every 1m
preparation		rotary split, etc and whether sampled wet		downhole in AC and composited into a
		or dry.		maximum 4m sample (total ~3kg) and
		For all sample types, the nature, quality		placed into uniquely numbered bags. The
		and appropriateness of the sample		last meter of each hole was sampled
		preparation technique.		individually for multi-element analysis.
		Quality control procedures adopted for all		RC samples were every meter and placed
		sub-sampling stages to maximise		in calico’s on a cone splitter at the rig.
		representivity of samples.		RC and DDH standards and blanks were
		Measures taken to ensure that the		submitted every 35 samples (though this
		sampling is representative of the in situ		data has not been located by Sheffield).
		material collected, including for instance	Laboratory
		results for field duplicate/second-half		DDH crushed to 2mm by Boyd crusher
		sampling.		Entire AC,RC and DDH sample dry
		Whether sample sizes are appropriate to		pulverised in a LM5 mill to nominal 85%
		the grain size of the material being		passing 75µm.
		sampled.		EOH AC multi-element samples were
				pulverised in a LM2 mill.
				Sub-sample split for analysis, weight
				determined by laboratory appropriate for
				element and analysis method. Laboratory
				check assays completed as determined
				by laboratory appropriate for element
				and analysis method.
			All
				Laboratory duplicates carried out to
				identify nuggety effect of sample.
				Standard GM305-10, GBM908-10, GBM305-
				5, OREAS22d, OREAS45d, GBM305-10 and
				GBM305-5 to identify sample
				misplacement or misallocation during
				sample collection and laboratory analysis.
				Sample data precision has been
				determined as acceptable through
				analysis of results from field duplicates and
				laboratory repeats.
				Techniques are considered appropriate
				for use inpublic reportingof exploration

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
				results.
			Theo
			Sub-sampling
				RAB and AC samples were spear and
				trowel (pending on sample volume)
				collected every 4m by Newmont and 10m
				by Sipa, with the second to last sample
				dependant on hole depth. The final meter
				was sampled separately. Anomalous gold
				samples were further subsampled.
				RC Sipa samples with the prefix ‘TFC’ were
				split and trowelled. Samples were taken
				every 10m until the zone of assumed
				mineralisation, and then every meter until
				mineralisation had been passed, in which
				samples were taken every 5m.
			Laboratory
				Aqua regia digest, ICP-MS detection,
				Mixed acid digest, ICP-AES detection Fire
				assay, ICP-MS detection, Mixed acid
				digest, ICP-MS detection,
				Standards and laboratory repeat data are
				not reported.
				Sub-sample split for analysis, weight
				determined by laboratory appropriate for
				element and analysis method.
			All
				Sample data precision has been
				determined as acceptable through
				analysis of results from field duplicates.
				Techniques are considered appropriate
				for use in public reporting of exploration
				results.
			Leila
			Sub-sampling
				RAB samples with anomalous gold were
				subsampled.
			Laboratory
				Aqua regia digest
				Standards and laboratory repeat can not
				be sourced by Sheffield.
				Sub-sample split for analysis, weight
				determined by laboratory appropriate for
				element and analysis method.
			All
				Sample data precision has been
				determined as acceptable through
				analysis of results from field duplicates.
				Techniques are considered appropriate
				for use in public reporting of exploration
				results.
Quality of		The nature, quality and appropriateness of	Oak Dam
assay data		the assaying and laboratory procedures		AC assays by Genalysis for 25g aqua regia
and		used and whether the technique is		graphite furnace AAS finish (Au), 25g
laboratory		considered partial or total.		aqua regia ICP-OES finish (Al, Ca, Co, Cr,
tests		For geophysical tools, spectrometers,		Cu, Fe, K, Mg, Mn, Ni, P, Sc, Ti, V, Zn), aqua
		handheld XRF instruments, etc, the		regia ICP finish (Ag, As, Au, Ba, Be, Bi, Cd,
		parameters used in determining the		Ce, Co, Cs, Dy, Er, Eu, Ga, Gd, Hf, Ho, In,
		analysis including instrument make and		La, Li, Mo, Nb, Nd, Pb, Pd, Pr, Pt, Rb, RE, Sb,
		model, reading times, calibrations factors		Se, Sm, Sn, Sr, Ta, Tb, Te, Th, Tl, Tm, U, W, Y,
		applied and their derivation, etc.		Yb, Zr), four acid digest, ICP-MS analysis
		Nature of quality control procedures		(Ag, As, Ba, Be, Bi, Cd, Ce, Co, Cs, Cu, Dy,
		adopted (eg standards, blanks,		Er, Eu, Ga, Gd, Ge, Hf, Ho, In, La, Li, Lu, Mo,
		duplicates, external laboratory checks)		Nb, Nd, Ni, Pb, Pr, Rb, Re, Sb, Sc, Se, Sm,

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
		and whether acceptable levels of		Sn, Sr, Ta, Tb, Te, Th, Tl, Tm, U, W, Y, Yb, Zn,
		accuracy (ie lack of bias) and precision		Zr), four acid digest ICP-OES analysis (Ag,
		have been established.		Al, As, Ba, Bi, Ca, Cd, Ce, Co, Cr, Cu, Fe, K,
				La, Li, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc,
				Sn, Te, Ti, Tl, V, W, Zn)
				RC and DDH assays by Genalysis 50g lead
				collection fire assay, AAS analysis (Au)
				Resubmission of 336 pulps were selected
				by Independence Group to be re-
				analysed for 4-acid digest method base
				metals. Drill holes were selected in relation
				to magnetic highs and multi-element EOH
				results. Holes included in this
				announcement are DCA100, DCA101,
				DCA102, DCA110, DCA111 and DCA112.
			Theo
				All RAB and AC were assayed by
				Ultratrace. Sipa by aqua regia (Ag, As, Au,
				Bi, Co, Cu, Fe, Mo, Ni, Pb, Sb, Te,
				_Zn)._Newmont underwent aqua regia for
				Au, Pt, Pd and ICP (As, Ba, B, Ca, Cd, Ce,
				Co, Cr, Cs, Cu, Fe, In, K, La, Li, Lu, Mg, Mn,
				Na, Nb, Ni, Pb, P, Sb, Sc, Si, Sn, Th, Ti, Tl, U,
				V, W, Yb, Y, Zn, Zr)
				All RC holes were assayed by Ultratrace.
				Newmont holes (NEWWWLRC004 to
				NEWLRC006) were assayed by an
				unstated technique for Au. Sipa Holes
				HEC001, HEC008, HEC009 and TFC001 to
				TFC027 by aqua regia (Ag, Al, AS, Au, Bi,
				Cu, K, Mo, Na, S, Sb, Te). HEC002 to
				HEC009 was analysed by fire assay and
				ICP (Ag, As, Au, Bi, Cu, Mo, Pd, Pt, Se, Te).
			Leila
				All RAB by aqua regia (Ag, Au, Co, Fe, Mo,
				Ni, Pb, Pd, Pt, Sb, Te, Zn) and mixed acid
				digest at Ultratrace (Al, As, Ba, B, Ca, Cd,
				Ce, Co, Cr, Cs, Cu, Fe, In, K, La, Li, Lu, Mg,
				Mn, Mo, Na, Nb, Ni, Pb, P, Sb, Sc, Si, Sn, Th,
				Ti, Tl, U, V, W, Yb, Y, Zn, Zr) .
Verification		The verification of significant intersections		Significant intervals are reviewed by senior
of sampling		by either independent or alternative		Company personnel prior to release.
and assaying		company personnel.		Open file data was downloaded from the
		The use of twinned holes.		DMP and restricted to tenure boundaries.
		Documentation of primary data, data		Raw data is stored in access data bases.
		entry procedures, data verification, data		Documentation related to data custody
		storage (physical and electronic)		and validation are maintained on the
		protocols.		Company’s server.
		Discuss any adjustment to assay data.		A spreadsheet was compiled from multiple
				surrendered tenement data sources.
				No assaydata have been adjusted.
Location of		Accuracy and quality of surveys used to	Oak Dam
data points		locate drill holes (collar and down-hole		AC,RC and DDH holes were located using
		surveys), trenches, mine workings and		a handheld GPS system with expected
		other locations used in Mineral Resource		accuracy of +/- 5m horizontal. Height (RL)
		estimation.		determination unknown.
		Specification of the grid system used.		Down hole RC surveys using a Reflex Ez-
		Quality and adequacy of topographic		Trac instrument. Down hole DDH using a
		control.		Reflex EZ-Trac magnetic survey instrument.
				Coordinates are referenced to the Map
				Grid of Australia (MGA) zone 51 on the
				Geographic Datum of Australia (GDA94).
				Location techniques considered suitable

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
				for public reporting of exploration results.
			Theo
				RAB location accuracy is (+/-5m).
				Coordinates are referenced to the Map
				Grid of Australia (MGA) zone 51 on the
				Geographic Datum of Australia (GDA94).
				No RL data has been reported.
				Location techniques considered suitable
				forpublic reportingof exploration results.
Data spacing		Data spacing for reporting of Exploration		Spacing stated in ‘sampling’ and ‘drill
and		Results.		techniques’ sections (above).
distribution		Whether the data spacing and distribution		Significant intervals are reported as
		is sufficient to establish the degree of		indicated in the relevant figure(s) and
		geological and grade continuity		table(s) and in the body of the
		appropriate for the Mineral Resource and		announcement, note down hole intervals
		Ore Reserve estimation procedure(s) and		are quoted.
		classifications applied.		Regional-scale aircore drilling program
		Whether sample compositing has been		designed to inform geological
		applied.		interpretation and identify geochemical
				anomalies.
				Drill hole and sample spacing is
				appropriate for the purpose and context
				in which the exploration results are
				reported.
				Additional data from any future closer-
				spaced (infill) drilling may change the
				shape and tenor of stated anomalies and
				geological interpretation.
Orientation		Whether the orientation of sampling		The angle at which the prevailing
of data in		achieves unbiased sampling of possible		geology/mineralised structures have been
relation to		structures and the extent to which this is		intersected by the drillholes for each
geological		known, considering the deposit type.		quoted interval is unknown at this stage.
structure		If the relationship between the drilling		Therefore the downhole widths quoted in
		orientation and the orientation of key		the body of the announcement can be
		mineralised structures is considered to		considered an approximation only of true
		have introduced a sampling bias, this		width at this stage.
		should be assessed and reported if		Given the purpose and context in which
		material.		the exploration results are reported any
				difference between true and downhole
				width is not considered material.
Sample		The measures taken to ensure sample		Sample security is not considered a
security		security.		significant risk given the location of the
				prospects and the context in which results
				have been reported.
Audits or		The results of any audits or reviews of		No formal external audits or review of
reviews		sampling techniques and data.		sample techniques or data have been
				conducted.
				Audits are not considered necessary at this
				stage of the Project’s development.
				Industry-standard methods are being
				employed.

Section 2 Reporting of Exploration Results

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

Criteria	Statement	Statement	Commentary	Commentary
Mineral		Type, reference name/number, location		Data reported is only from areas of
tenement and		and ownership including agreements or		surrendered Exploration Licences
land tenure		material issues with thirdparties such as		[E28/1360,E28/1361,E28/1362(AngloGold

Criteria	Statement	Statement	Commentary	Commentary
status		joint ventures, partnerships, overriding		and Independence Group)] that are
		royalties, native title interests, historical		within E28/2481 (Oak Dam), [E28/1412
		sites, wilderness or national park and		(Comet JV with Sipa), E28/1530
		environmental settings.		(Newmont, Sipa), E28/1483 (Newmont,
		The security of the tenure held at the time		Sipa, Comet JV)] that are within in
		of reporting along with any known		E28/2453 (Theo), and [E63/1043 (Sipa)]
		impediments to obtaining a licence to		that is within in E63/1696 (Leila).
		operate in the area.		E28/2481 Oak Damwas granted on
				07/05/2015 and is due to expire on
				06/05/2020 and is held 100% by Sheffield
				Resources Ltd.
				E28/2453 Theowas granted on
				13/05/2015 and is due to expire
				12/05/2020 and is held 100% by Sheffield
				Resources Ltd.
				E63/1696 Leilawas granted on 07/10/2014
				and is due to expire on 06/10/2019 and is
				held 100% by Sheffield Resources Ltd.
				There are no known or experienced
				impediments to obtaining a licence to
				operate in the area.
Exploration		Acknowledgment and appraisal of		TheOak DamProject area was explored
done by other		exploration by other parties.		by AngloGold Ashanti Joint Venture with
parties				Independence Group NL between 2004
				and 2014. Rock chip, Calcrete, Auger,
				AC, RC and diamond drilling was carried
				out and aeromagnetics/ radiometrics,
				ground gravity and MLTEM undertaken.
				Petrology was carried out.
				TheTheoProject area was explored by
				Sipa Resources LTD Joint Venture with
				Newmont Exploration and Comet
				Resources LTD from 2006 to 2014. Soil
				sampling, auger drilling, rock chips, AC,
				RAB, RC, aerial magnetics, ground gravity
				and geological interpretation was carried
				out.
				TheLeilaProject area was explored by
				Sipa Resources LTD 2006 to 2014 and joint
				ventured with Newmont from 2006 to
				2009. Auger drilling, RAB, aerial
				magnetics, ground gravity and
				geological interpretation was carried out.
				Information sourced and re-processed
				from the following reports (a102959)
				AngloGold and Independence Group
				Joint Venture "Tropicana Joint Venture,
				Tropicana Group 4 Project E28/1359,
				E28/1360, E28/1361 & E28/1362; Final
				Surrender Report for the Period
				20/06/2005 to 11/06/2014" and (a101688)
				Sipa "Final Surrender Report for the Period
				2 March 2005 to 6 February 2014,
				Woodline Project, E28/1483" and
				(a101539) Sipa "Final Surrender Report for
				the Period 14 April 2009 to 9 February
				2014. Woodline Project Tenement
				E63/1043", (a102354) Comet "Combined
				reporting group C21-2007 Woodline
				Project Exploration Licences 28/1412,
				28/1495 and 28/1657 Final Surrender
				Report'.
Geology		Deposit type, geological setting and style		Included in the body of the
		of mineralisation.		announcement.

Criteria	Statement	Statement	Commentary	Commentary
Drill hole		A summary of all information material to		Included in the body of announcement.
Information		the understanding of the exploration
		results including a tabulation of the
		following information for all Material drill
		holes:
		o easting and northing of the
		drill hole collar
		o elevation or RL (Reduced
		Level – elevation above sea
		level in metres) of the drill
		hole collar
		o dip and azimuth of the hole
		o down hole length and
		interception depth
		o hole length.
		If the exclusion of this information is
		justified on the basis that the information is
		not Material and this exclusion does not
		detract from the understanding of the
		report, the Competent Person should
		clearlyexplain whythis is the case.
Data		In reporting Exploration Results, weighting		Significant intervals are reported as
aggregation		averaging techniques, maximum and/or		indicated in the relevant table(s) and in
methods		minimum grade truncations (eg cutting of		the body of the announcement, note
		high grades) and cut-off grades are		downhole intervals quoted.
		usually Material and should be stated.
		Where aggregate intercepts incorporate
		short lengths of high grade results and
		longer lengths of low grade results, the
		procedure used for such aggregation
		should be stated and some typical
		examples of such aggregations should be
		shown in detail.
		The assumptions used for any reporting of
		metal equivalent values should be clearly
		stated.
Relationship		These relationships are particularly		The angle at which the prevailing
between		important in the reporting of Exploration		geology/mineralised structures have
mineralisation		Results.		been intersected by the drillholes for
widths and		If the geometry of the mineralisation with		each quoted interval is unknown at this
intercept		respect to the drill hole angle is known, its		stage.
lengths		nature should be reported.		Therefore the downhole widths quoted in
		If it is not known and only the down hole		the body of the announcement can be
		lengths are reported, there should be a		considered an approximation only of true
		clear statement to this effect (eg ‘down		width at this stage.
		hole length, true width not known’).		Given the purpose and context in which
				the exploration results are reported any
				difference between true and downhole
				width is not considered material.
Diagrams		Appropriate maps and sections (with		Included in the body of announcement.
		scales) and tabulations of intercepts
		should be included for any significant
		discovery being reported These should
		include, but not be limited to a plan view
		of drill hole collar locations and
		appropriate sectional views.
Balanced		Where comprehensive reporting of all		Sheffield has processed open file data to
reporting		Exploration Results is not practicable,		ensure the integrity of the assays
		representative reporting of both low and		announced.
		high grades and/or widths should be		Each report and/or ASX announcement is
		practiced to avoid misleading reporting		referenced in the body of the
		of Exploration Results.		announcement where relevant.
				Terms like “best”, “strongest” or
				“significant” are used to highlight those

Criteria	Statement	Statement	Commentary	Commentary
				results considered most important in the
				context of the announcement.
Other		Other exploration data, if meaningful and	Oak Dam
substantive		material, should be reported including		Geophysical surveys as follows:
exploration		(but not limited to): geological
data		observations; geophysical survey results;	Ground based gravity survey undertaken by
		geochemical survey results; bulk samples	Haines Surveys in 2007
		– size and method of treatment;		Receiver: Scintrex CG-3 Autograv Gravity
		metallurgical test results; bulk density,		Meter.
		groundwater, geotechnical and rock		Accuracy: 0.01 milligal
		characteristics; potential deleterious or		Stations: 732 primary and secondary
		contaminating substances.		repeats
				Interval: 0.5km by 2km lines
				Location: Kinematic GPS satellite (+/-1m)
			Aeromagnetic Survey undertaken by Fugro
			Airborne Survey and radiometric in 2008
				DMP lodgement number 70062.
				Receiver: Caesium vapour
				magnetometer in fixed tail stinger
				assembly and horizontal magnetic
				gradiometer wingtip sensor.
				Terrain Clearance: 50m
				Degree: 090-270
				Spacing: 100m
				Interval: 0.1 second
			Radiometric Survey undertaken by Fugro
			Airborne Survey and radiometric in 2008
				DMP lodgement number 70062.
				Receiver: Caesium vapour
				magnetometer in fixed tail stinger
				assembly and horizontal magnetic
				gradiometer wingtip sensor.
				Terrain Clearance: 50m
				Degree: 000-180
				Spacing: 1000m
				Interval: 1 second
			Moving Loop Time Domain Electromagnetic
			(“MLTEM”) Survey by Independence Group
			staff and contractors
				Transmitter: IGO Battery (Geonics)
				Current: 50A
				Receiver: SMARTem24
				Base Frequency: 1Hz
				Sensor: SMART Fluxgate –
				Components Bz, Bx, By
				Loop Size: 200m by 200m
				Stations: 22
				Number of Lines: 3
				Location: Handheld GPS used for receiver
				/ transmitter locations, coordinates
				GDA94/MGA Zone 51 (+/-5m accuracy)
			Audits and reviews
				Aero-radiometric, aero-magnetic and
				ground gravity data was collected was
				by independent consultants. MLTEM data
				was collected and processed in house by
				Independence Group Geophysicist
				Jacob Paggi..
				Ground gravity survey identified a
				Bouguer high in the northeast,correlating

Criteria	Statement	Statement	Commentary	Commentary
				with the Proterozoic/ Archaean suture.
				Aero-geophysics was used to improve
				geological interpretation and define
				targets prior to drilling. No MLTEM
				conductors were identified
			TheoandLeila
			Geophysical surveys
			Aeromagnetic Survey undertaken by UTS in
			2008
				MAGIX: R70073
				Terrain clearance: 25m
				Spacing: 50m
			Ground based gravity survey undertaken by
			Haines Surveys in 2008
			Audits and reviews
				An interpretative geological map
				(100,000 scale) was produce from EOH
				geology and litho-geochemistry along
				with magnetic and gravity data sets.
				MERIWA sponsorship 2012 investigating
				gold distribution on soil, regolith and
				calcrete profiles at Leucippus. Abiotic
				processes were found to be a control of
				calcrete accumulations.
Further work		The nature and scale of planned further		Included in the body of announcement.
		work (e.g. tests for lateral extensions or
		depth extensions or large-scale step-out
		drilling).
		Diagrams clearly highlighting the areas of
		possible extensions, including the main
		geological interpretations and future
		drilling areas, provided this information is
		not commerciallysensitive.