ST BARBARA LIMITED — Fund Information / Factsheet 2005

Aug 8, 2005

ST BARBARA MINES LIMITED

ACN 009 165 066

$\overline{ASX}$ SHAREHOLDERS REPORT

Enquiries regarding this report may be directed to:

Eduard Eshuys

Managing Director & CEO Telephone +61 8 9476 5555

St Barbara Mines Limited ACN 009 165 066 Level 2, 16 Ord Street West Perth Western Australia 6005 Telephone $(08)$ 9476 5555 Overseas $+61894765555$

Hercules Reserve Upgrade

The reserve estimate for Hercules, located 12kms south of Marvel Loch near Southern Cross, has been upgraded as at 30 June 2005 using a gold price of A$550/oz and cut-off grade of 1.1g/t to:

Probable Reserves 2.3Mt @ 2.5g/t gold for 180,000ozs gold1

Equipment required for mining Hercules is in place and ready to commence mining as soon as final statutory approvals are received.

Future Production Estimates

The Company has previously estimated potential gold production by 2007, subject to appropriate exploration success and reserve delineation, at Southern Cross, Meekatharra and Leonora, at potentially 550,000 ounces per annum, with the initial objective of re-establishing reserves totalling 1 to 1.5Moz representing a potential initial mine life of 3 to 5 years at these operations.

It should be noted that these estimates, as detailed in previous announcements, are conceptual in nature. There has been insufficient exploration and commercial evaluation to date to define ore reserves and it is uncertain whether further exploration and commercial evaluation will result in the determination of ore reserves. Exploration activities are continuing.

Gwalia

Inferred Resources 7.2Mt @ 7.4g/t gold for 1.7Moz gold 2

Following a recent extensive review of exploration and historic mining data for Gwalia Deeps, an independent industry expert has advised that potential exists for an additional 1.3Mt at an estimated grade of 8.4g/t for a possible additional 350,000 ounces.

The potential quantity and grade for these additional ounces is conceptual in nature. There has been insufficient exploration to date to define these additional ounces as a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.

Infill exploration drilling at depth has recently commenced.

Eduard Eshuys Managing Director & CEO 9 August 2005

• $\bar{\mathrm{t}}$ This reserve estimate has been reported in accordance with the JORC Code (Dec 2004) and was prepared by Mr Allan Blair, a Competent Person as defined by the Code and is included with his written consent.
• JORC compliant resources as per June 2005 Quarterly Report