St Barbara Limited ACN 009 165 066 Level 14, 90 Collins Street, Melbourne VIC 3000 Locked Bag 9, Collins Street East, Melbourne VIC 8003 Tel +61 3 8660 1900 Fax +61 3 8660 1999 www.stbarbara.com.au

Attached is a presentation to analysts and investors attending a site visit today at Leonora Operations, Western Australia.

Ross Kennedy Executive General Manager Corporate Services Company Secretary 4 August 2011

Leonora Operations

Investor Site Tour

Thursday, 4 August 2011

Disclaimer

This presentation has been prepared by St Barbara Limited (St Barbara) and is for information purposes only. Nothing in this presentation should be construed as either an offer to sell or a solicitation or an offer to buy or sell St Barbara securities. This presentation is not financial product or investment advice. It does not take into account the investment objectives, financial situation and particular needs of any investor. Before making an investment in St Barbara, an investor or prospective investor should consider whether such an investment is appropriate to their particular investmentneeds, objectives and financial circumstances and seek appropriate legal, financial and taxation advice.

This presentation may contain forward‐looking statements that are subject to risk factors associated with exploring for, developing, mining, processing and sale of gold. Forward‐looking statements include those containing such words as "anticipate", "estimates", "forecasts", "should", "could", "may", "intends", "will", "expects", "plans" or similar expressions. Such forward‐looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties uncertainties, assumptions and other important factors factors, many of which are beyond the control of St Barbara. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a range of variables and changes in underlying assumptions which could cause actual results or trends to differ materially.

This presentation has been prepared by St Barbara based on information available to it and has not been independently verified. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of St Barbara or its subsidiaries or affiliates or the directors, employees, agents, representatives or advisers of any such party, nor any other person accepts any liability for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it, including without limitation, any liability arising from fault or negligence on the part of St Barbara or its subsidiaries or affiliates or the directors, employees, agents, representatives or advisers of any such party.

Nothing in this presentation is a promise or representation as to the future. Actual results may vary from the information in this presentation and any variation may be material. Prospective information by its very nature is subject to uncertainty and contingencies, many of which are outside the control of St Barbara Barbara. Past performance is not an indication of future performance performance. Statements or assumptions in this presentation as to future matters may prove to be incorrect and any differences may be material. St Barbara does not make any representation or warranty as to the accuracy of suchstatements or assumptions.

St Barbara estimates its ore reserves and mineral resources in accordance with The Australasian Code for Reporting of Exploration Results, Mineral Resources andOre Reserves 2004 Edition (JORC Code), which governs such disclosures by companies listed on the Australian Securities Exchange.

•Company Profile
• Gwalia SiteOverview
•Operations
•King of the Hills
• Gwalia Mine andRegional Prospectivity

COMPANY PROFILE

Goldfocused, capable and growing

Stockcode: SBM

llbbddddiiAAttusraanaseproucer		11228855KKoz
kiliiASXtttmarecapasaon:		$3596M
dhOirnarsaresy:		326M
fhhldiiiStgncansareoers
&MGGropu		18.3%
kliFRrannesources		6.9%
llHHtunera		%6.7
ddTiraensw		6.4%
diiPtroucngoperaons:		3
lildbkEtxporaonanan:		²k4,600+ms
ORreeseresv	²/[email protected]
²/[email protected]
dufo1.PrioFY11tocnr2.As30Ju2010tanely3.As29Ju2011ta

LEONORA SITE OVERVIEW

Leonoradistrict is richly endowed with

gold

• 240kmnorth of Kalgoorlie
• Host to numerous gold deposits
• St Barbara mineral resources: 27.7 Mt @ 6.1g/t Aufor 5.4 Moz1
• King of the Hills located 42kms NNWof Gwalia
• Includes key ground along the Keith Kilkenny lineament – a geologically significant structure

As at 30June 2010

Gwalia‐

Oneof Australia s' most historic mines

1896 ‐ Welshsyndicate discovers the Gwalia Reef.
1897 ‐ Herbert Hoover buys mine for B ik ewc M i ore ng
1929‐ Hoover becomes 31st President of USA
1963 ‐ Mine closes 4 days before Christmas having produced more than 2 5Moz . over 67 years.
1983 ‐ Lalor Brothers purchase mine and open cut mining commences one year later.
1999 ‐ Open pit finishes and the Hoover Decline is establishedfor underground mining.
2002 ‐ Mine placed in Care and Maintenance having produced another 1.3Moz
2005‐ Mine acquired by St Barbara Ltd.
2008 ‐ SBMpours first gold in Oct 2008
2009 ‐ SBMfirst 100koz in Sep 2009

Operating in virgin ground

Infrastructuredesigned for long life

Infrastructure is scalable tosupport

deeper mining

Commissionedand ready for life of mine

V il i F 2 1350kWFi l D 450 3 • Ventilation Fans – x – FinalDuty m / @ 4kP 3/sec 4kPa
•Refrigeration – 4 MWr – Upgradable to 8 MWr (2012/13)
• Paste Fill Plant – 100m3/hr (current rate 130 m3/hr)
• Power Station – 4 MW(Dual Fuel) + 11MW (Gas) – Upgradable

GWALIAOPERATIONS

GWALIA – ONE OF AUSTRALIA'S ICONIC GOLDMINES

Stable FY11 safety performance – focus forimprovement

FY 11gold production up 20%

• FY 2011 Performance
- • Goldproduction 131koz
- • Cashoperating costs A$765/oz
- • Hoover Decline– 1,358 mbs
- • Minedevelopment for the year was 5,993m
• Challenges addressed during year
- • Rainevent interrupted operations in Feb 2011
- •Operating in new lode – SWB below dyke
- •Trialling and optimising stoping practices

Gwalia FY12forecast gold production up 40%

Operations Guidance

•Underground
–700 000 to 730 000 t
Hoover Decline to 1,450mbs by end FY12
–New stoping method
•Processing Plant
–1.2 mtpa capacity
– +95% recovery y–
+98% availability
•Production 175-190 koz
Grade 8 0 8 5 g/t Au 700,000 730,000 t–• 8.0-8.5
- • Cash costs $610 640/ , y $610–640/oz
  - • Capex $55–60M i i g inc. non- recurring items totalling $13M

Targeting sustainable increases in

production rates

GwaliaMining Strategy ‐ High Productivity from SWB Dual

LiftStoping in SWB

To maintain grade requires high productivity from SWB :‐

•Minimum 3 independent mining areas, and
•Higher bogging rates from each stope

Features of Dual Lift Stoping :‐

•North & South access on two dual lift levels gives 4 mining areas (minimum 3)
•Greater percentage of free bogging increases productivity of each stope
•Sill drives fully in ore – reduces development dilution
•Production drilling parallel to hanging‐wall to reduce blast induced dilution
•Development layout allows for later access to Main Lode, SGS and West Lode
• Risk due to longer hanging‐wall managed through :‐
- 3 stage stop g in ( g leavinghang g in ‐wall wedg ) e
- Short strike length (<17m)
- Rapid bogging of stope to reduce stand time
• Production levels can be fully developed and mapped prior to first stoping
- Will facilitate improved stoping design practices

Gwaliamining strategy – stoping sequence

Dual LiftStoping in SWB Mining Sequence

Gwalia Mining Strategy Dual LiftStoping in SWB – Development Layout

GwaliaMining Strategy

Dual LiftStoping in SWB – 3 Year Mining Sequence

Maximising Gwalia's value

• Current major p j ro ects to unlock further value
- • Pre‐feasibility study for haulage optimisations at Gwalia including potential for a shaft
- • Scoping study for Gwalia mill expansion from 1 2Mtpa . to1.8Mtpa
- • Results due 2Hof FY12
• Structured and active Business Improvement processes in place

KING OF THE HILLS

NEWGROWTH PROJECT

42kmto Gwalia mill on existing road

King of the Hills successfully commissioned

• Productioncommenced May 2011 ahead of plan
• FY11production 7,066oz at cash cost $699
•Full production from July 2011
• ProbableOre Reserves of 195koz
• LOMgrade 4.3 g/t Au
• LOMproduction at 55‐60koz pa
• FY 12 cashcost $710–750/oz
•Deposit open on the Eastern and Western Flanks
•Options secures minimum gold price of A$1,425/oz

KOTHopen stoping in eastern flank

Mining Strategy (FY2012 Plan)

Leonorarecoveries consistently high

GWALIA MINE AND REGIONAL PROSPECTIVITY

POTENTIAL FOR ADDITIONAL RESOURCES INAND NEAR MINE

Potential reserveupgrade

Potential for several lodes tobe mined

Drilling targets for FY12

• Gwalia Deeps
- •completed Phase 2
• Leonora
- • 3,000m identified for testing deep conceptual targets with potential for >1Moz
• New Targets
- • to be identified by studies studies, provides 10,000m for geochemical air-core & RC drilling
• Yerilla, Coronation, Lake Carnage
- • geochemical air-core drilling 14000m to generate drill-testing targets

Leonora Site Visit August 2011

Competent Persons Statement

Significant gold intersections and geological interpretations contained in this report have been compiled by Mr. Phillip Uttley. Mr. Uttley is a Fellow of The Australasian Institute of Mining and Metallurgy and is a full time employee of the company. Mr Uttley has sufficient experience relevant to the style of mineralisation, type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2004 edition of The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Uttley consents to the inclusion in the report of the matters based on his information in the form and context inwhich they appear.

References to Mineral Resources presented in this document have been produced in accordance with The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, December 2004 (JORC Code) under the direction of Ms Jane Bateman. Ms. Bateman is a Member of The Australasian Institute of Mining and Metallurgy and is a full time employee of the Company. Ms. Bateman has sufficient experience relevant to the style of mineralisation mineralisation, type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code. Ms. Bateman consents to the inclusion in this document of the matters based on the information in the form and context in which they appear.

References to Ore Reserves presented in this document have been produced in accordance with The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, December 2004 (JORC Code) under the direction of Mr. Jacobus Kirsten. Mr. Jacobus Kirsten is a Member of The Australasian Institute of Mining and Metallurgy and is a full time employee of St Barbara. Mr. Kirsten has sufficient experience relevant to the style of mineralisation type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code. Mr. Kirsten consents to the inclusion in this document of the matters based on the information

Appendices

Leonorapeople summary

• 510 personnel onsite
- • 130 SBM(inc. 20 contractors)
- • 225Barminco
- • 155 Other (Drilling, Catering, Maintenance)
- • Local and FIFO(Perth)
• State of the Art Village Facilities
- • Golden Gecko Award for S t i bilitSustainability
- •Expansion underway

Stress Results – lower thanexpected

Stress Test Results & Yilgarn Block Trends

Gwalia– plan view schematic of lodes

Investor Relations Enquires to:

Ross Kennedy Executive General Manager Corporate Services E: [email protected]

Rowan ColeGeneral Manager Corporate Services E: [email protected]

T: +61 3 8660 1900www.stbarbara.com.au