ST BARBARA LIMITED — Fund Information / Factsheet 2004

Mar 4, 2004

ST BARBARA MINES LIMITED

ACN 009 165 066

$\overline{ASX}$ SHAREHOLDERS REPORT

Enquiries regarding this report may be directed to:

Stephen W. Miller

Executive Chairman Telephone (08) 9476 5555 Overseas +61 8 9476 5555

or

Colin G. Jackson

Investor Relations Telephone 0417 929 107

St Barbara Mines Limited Level 2, 16 Ord Street West Perth Western Australia 6005 $(08)$ 9476 5555 Telephone +61 8 9476 5555 Overseas

Meekatharra Joint Venture

The Company has entered into an additional joint venture over part of its large Meekatharra tenement package that will significantly add to the already-increased exploration and development activity on its tenements in the region.

Under the terms of the new Annean Joint Venture, Aurogenic Resources Pty Ltd can earn a 51% interest in approximately 480 km2 of granted tenements by the expenditure of $4 million over three years – including a committed $1 million in Year $1$ – and has the right to increase its equity to 70% by the expenditure of an additional $4 million in a further two years.

Aurogenic is associated with former Zapopan NL chairman and managing director Patrick Harford, and the technical management of the joint venture will be by consulting geologists Vearncombe and Associates, the principals of which, Julian and Susan Vearncombe, have strong gold exploration backgrounds.

The Company is now a partner in six joint ventures covering 1,100 km2 of tenements in the Meekatharra region, on which there will be in excess of $4 million of exploration/development expenditure by other parties in the next twelve months and a possible $20 million over a five year period.

With exploration of most of its Meekatharra tenements now being funded by joint venture partners, the Company's main near-term focus will be on advancing the Prohibition and Vivians-Consols deposits – which have a combined gold resource of 370,000 ounces and significant additional potential at depth - to underground development status.

Stephen W. Miller Executive Chairman

5 March 2004