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ST BARBARA LIMITED Capital/Financing Update 2005

Dec 8, 2005

65749_rns_2005-12-08_334b9f45-a52f-4a54-a2e8-98bd95860181.pdf

Capital/Financing Update

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St Barbara Mines Limited

ASX® SHAREHOLDERS REPORT

Enquiries regarding this report may be directed to:

Eduard Eshuys Managing Director & CEO

St Barbara Mines Limited ACN 009 165 066 Level 2, 16 Ord Street West Perth WA 6005 Telephone +61 8 9476 5555 Facsimile $+61894765500$ Email [email protected] Website www.stbarbara.com.au

Exercise of Options

The Company advises that Resource Capital Fund II LP has today sold its entire holding of 49,712,687 unlisted options in St Barbara Mines Limited.

These options were exercised today and the Company has received \$7,117,809 cash. The Company has been advised that the resulting shares have been sold by Southern Cross Equities to a number of institutional investors.

Eduard Eshuvs Managing Director & CEO

9 December 2005