ST BARBARA LIMITED — Capital/Financing Update 2012

Aug 22, 2012

St Barbara Limited ACN 009 165 066

Level 10, 432 St Kilda Road, Melbourne VIC 3004 Locked Bag 9, Collins Street East, Melbourne VIC 8003 Tel +61 3 8660 1900 Fax +61 3 8660 1999 www.stbarbara.com.au

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Australian Operations FY13 Guidance

St Barbara provided production guidance for the Company’s Australian operations in the June 2012 quarterly report, released on 19 July 2012. Guidance is now provided for cash operating costs and capital expenditure.

Reflecting industry wide conditions, cost forecasts for FY13 are impacted by general inflation and an estimated impact from the carbon tax. This guidance incorporates rates for the new mining contract at Gwalia, awarded to Byrnecut Mining Pty Ltd from 1 September 2012. Gwalia grades for FY13 are expected to be above 8.0 g/t Au.

At King of the Hills, some mining will take place on the Western flank, requiring higher cost cut and fill operations, compared to open stoping previously used in the Eastern flank.

the Eastern flank.
FY 13 Guidance		Gwalia	King of the Hills	TotalLeonora
Goldproduction	koz	175-190	55-60	230-250
Cash operating cost	$/oz	670-700	840-870	710-745
Capital expenditure	$M	45-50	20-25	65-75

Capital expenditure at Gwalia and King of the Hills is forecast to reduce by about 10% for the year.

Southern Cross Operations is expected to cease operations and be placed on care and maintenance in the December 2012 quarter, and is forecast to produce between 20 to 25 koz for FY13 at a cash operating cost of between A$1,420 and A$1,450 per ounce, with minimal capital expenditure.

FY13 exploration expenditure is forecast to be a minimum of $20 million.

The acquisition of Allied Gold Mining Plc by St Barbara Limited has been approved by Allied Gold shareholders, with completion subject to UK Court sanction, scheduled for 30 August 2012. The combined group has forecast production for FY13 of approximately 435,000 ounces of gold. As indicated in the Allied Gold Scheme Document, a strategic review of Allied Gold’s operations is planned in conjunction with Allied Gold management. This will take approximately three months following completion of the Scheme, after which the Company will update guidance for operations in PNG and the Solomon Islands.

Tim Lehany Managing Director and CEO 23 August 2012