ST BARBARA LIMITED — Investor Presentation 2012

Nov 4, 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

Presentation to analysts attending the Pacific Operations

Attached is a presentation to analysts attending a site visit at the Pacific Operations, comprising Gold Ridge in the Solomon Islands, and Simberi in Papua New Guinea.

Ross Kennedy Executive General Manager Corporate Services Company Secretary 5 November 2012

Presentation to Analysts

S f t Barbara's Paci fic Operations

05 November 2012

Alistair Croll Chief Operating Officer

Pacific Operations Site Tour - November 2012

Forwardstatements

This presentation has been prepared by St B b ar ara Li i d ^m te ("C ") ompany"). The Thi i h b d b h C b d if i material contained in this presentation is for information purposes only. This presentation is not an offer or invitation for subscription or purchase of, or ^a recommendation in relation to, securities in the Company and neither this presentation nor anything contained in it shall form the basis of any contract or commitment. This presentation is not ^a financial product or investment advice It does not take into account the investment objectives advice.financial situation or particular needs of any investor. Before making an investment in the Company, an investor or prospective investor should read this document in its entirety, consider whether such an investment is appropriate to their particular investment needs, objectives and financial circumstances, seek legal and taxation advice appropriate to their jurisdiction and consult ^a financial adviser if necessary The Company is not licensed to provide financial product necessary. advice in respect of the Company's securities.

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 will expects plans or similar expressions. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company. 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 ^u de y gassu pt ^o sc cou dactua esu tso t ^e dsd ^e materially. Nothing in this document 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. Past performance is not an indication of future performance. Statements or assumptions in this presentation as to future matters may prove to be incorrect and any differences may be material. The Company does not make any representation or warranty as to the accuracy of Financial figures are in Australian dollars unless otherwise stated. such statements or assumptions. Investors are cautioned not to place undue reliance on such statements.

This presentation has been preparedby the Company basedon 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 the Company or its subsidiaries or affiliates or the directors, employees, objectives, agents representatives or advisers of any such party nor any other person agents, party, 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 the Company or its subsidiaries or affiliates or the directors, employees, agents, representatives or advisers of any such party.

The Company estimates its Ore Reserves and Mineral Resources in accordance with The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves 2004 Edition ("JORC Code"), which governs such disclosures by companies listed on the Australian Securities Exchange. The JORC Code differs in several significant respects from Industry anticipate, estimates, forecasts, should, will, expects, Guide 7 of the US Securities and Exchange Commission which governs Commission, disclosures of mineral reserves in registration statements and reports filed with the SEC. In particular, Industry Guide 7 does not recognise classifications other than Proved and Probable Reserves, and the SEC does not permit mining companies to disclose Mineral Resources in SEC filings.

The Company's fiscal year runs from 1 July to 30 June. As at 2 Nov 2012, AUD \$1.00 ⁼ USD \$1.04, USD \$1.00 ⁼ AUD \$0.96

Company Overview

• • On7 September 2012, St Barbara acquired 100% of Allied Gold
• • The acquisition is consistent with the strategy of the last 3 years to grow long term EPS
• • Immediately NAV accretive and EPS accretive after first year of combinationfor St Barbara shareholders
• • St Barbara is now the largest ASX listed mid‐tier gold company for:
• • Goldproduction
• • Orereserves
• •Mineral resources
• • The acquisition includes two gold operations:
• • GoldRidge, Solomon Islands
• •Simberi, Papua New Guinea
• •Si ifi ^t Significantnear mine and regi l ona expl ti ora on along P ifi ac ^c Rim

Three diverse and established gold operations; all underpinned by long life ore reserves and eachprospective for growth

Strong balance sheet

• • IssuedShares: 488M²
• •Market Cap: A\$927M3
• • At combination date:
• •Total debt expected to be approx. A\$195M1 p pp
• •Net debt expected to be ^< A\$100M1
• •Gearing ^< 20%1,4
• •Gearing reduces significantly over next two years
• U id t ld f 80 %f d 95 % ⁵ • Upside exposure to goldfor 80+%ofrevenue and95+%reserves5
• • Ability to fund exploration and expansion projects from cash flow
• 1 I ld ld l ^t ti ^t d A\$75M 1. Includesgoldloan atestimated2. Estimated
• shares on issue post‐combination
• 1. Estimated 488 Mshares on issue post‐combination at A\$1.90 ea closing price on ² Nov 2012
• 1. Debt/ debt ⁺ equity

Pacific Operations Site Tour - November 2012 5. EstimatedFY13 revenue and reserves as at September 2012

St Barbara, ^a leading Australian listed midtier gold company

#1 FY13F ProductionPosition (koz)2

1. Goldonly reserves and resources based on most recently disclosed company filings as at 31 August 2012.

Pacific Operations Site Tour - November 2012 ⁷ 2. Based on estimates from selected brokers which disclose production metrics. For Simberi and Gold Ridge, based on internal life of mine plans assuming no change in production as ^a result of the transaction. Gwalia, King of the Hills and Southern Cross based on FY13 guidance.

Goldoperations

GwaliaMine, Leonora, WA

high quality, long life, rich gold deposit

• • Ore Reserves of 6 9. Mt at 8 7. g/t Au containing 1.9 Moz of gold [1]
• • Mineral Resources extendedto 1,840 mbs, open to north, southand at depth
• • Indicative 9+ year mine life basedon Ore Reserves
• • FY13forecast

‐

• •production 175 – 190 koz
• • cashcosts A\$670 ‐700/oz
• • Proven operating performance [FY12: 184 koz @ A\$646 per ounce cash operating cost]

[1] As at 30 June 2012.

Simberi, Papua New Guinea Growing gold production, highly prospective Western Pacific Rim

• • 2.0Moz Ore Reserves¹
• • 6.5Moz Mineral Resources¹
• • A ti i t dAnticipated70‐80 koz for FY13
• • Ore bodies not closedoff
• • Oxide expansion to be completed in FY13 lifts production to 100 koz p.a.
• • 9+year mine life
• •Significant cost reduction initiatives underway
• •Sulphide BFS underway
• • Common lawlegal system and Mining Act 1992

Pacific Operations Site Tour - November 2012 2. Includes: Oxide 0.8Moz, Sulphide 1.1 Moz, Transitional 0.1 Moz.

Gold Ridge, Solomon Islands Long life operation with near mine potential

• 1 1 MO ¹ • 1.1Moz Ore reserves¹
• • 2.5Moz Mineral Resources¹
• •T ti arge ng prod ti uc on of 105 koz pa
• • 9+year mine life
• •Significant near mine potential
• • Mine establishedand ramping up
• • Cost reductionopportunities
• • Common lawlegal system and modern Mining Act 1990
• • Australian ‐led Regional Assistance Mission to the Solomon Islandscontinuing to support and develop the police force

What toexpect

Plans for Simberi and Gold Ridge –improving operating capabilities

Phase 1– FY2013

• • Complete integration by 31 December 2012
• • Includesstrategic review of Simberi and Gold Ridge
• •Update guidance after strategic review
• • Simberi and Gold Ridge FY13 performance objectives:
• • Achieveproduction reliability and improvements
• • Reduce cashoperating costs
• •Complete Simberi Oxide expansion project
• •Drilling of infill targets at Simberi and Gold Ridge
• • Commenceexpl ti ora on work on Si b i ^m er EL609

Phase2

• Pursue internally funded growth opportunities (eg: Simberi sulphides project)

Plans for GoldRidge

–improving operating capabilities

• • Resources
• • Review of all grade control and short term models ‐ enhance drilling programmes
• • Mining
• • Reviewmine planning
• •Improving mining efficiencies
• • Additions to fleet to improve outputs and options for ore delivery to processing facility
• • A t sse i t it negrity review and commii i ss on ng of the HV work hs op
• • Processing
• • Front endmodifications ‐ GRES eng ga ed with Scope of Work
• • Focus on additional supervision to enhance current throughput performance
• • Work on smaller projects to improve recoveries and general bottleneck removalshas commenced

Plans for GoldRidge

–improving operating capabilities

• • C il ommercial
• • Reviewof supply chain practices
• • Review of management accounting practices and cost controls ‐ remove costs fromthe business
• • Organisational structures
• • Review of, and recruiting for, additional mid‐management positions has commenced
• • Clear definitionof work areas and focus points
• • A t ssessmentandassi ts ance of on mine ^t hi l ec nicalcapability
• • Capital spend
• •Processing facility upgrades
• • Mining fleet – additions and modifications to improve the mining fleet tobe fit for purpose

Plansfor Simberi

• • Resources
• • Review of all grade control and short term models ‐ enhance drilling programmes
• • Mi i nng

–

• • Reviewmine planning
• •Improving mining efficiencies – drill and blast

improving operating capabilities

• • Increase inmining rates to supply Oxide Expansion mill
• • Additions tofleet to improve outputs
• •Asset integrity review and commissioning of the HV workshop
• • Processing
• • Focus on additional supervision to enhance current throughput performance
• • Work on smaller projects to improve recoveries and general bottleneck removalshas commenced
• •Throughput equivalent rate of 3.5Mt to be achieved

Plansfor Simberi

–improving operating capabilities

• • Commercial
• • Reviewof supply chain practices – logistics
• • Chartersarrangement review
• • R i ev ew of management accounting practices and cost cont l ro ^s ‐ remove costs fromthe business
• • Organisational structures
• • Review of and recruiting for additional mid‐management positions has commenced
• • Clear definitionof work areas and focus points
• • Capital spend
• •Complete Oxide Expansion
• •C lt omp ^{e e} HFO f ilit ac y
• •Mining fleet – additions and modification to ensure suitability to conditions
• • Drill andblast capability

Diversified project pipeline spanning exploration to gold production

1 Based on internal life of mine plans assuming no change in production 1.as a result of the transaction. Also subject to risks described in the rule 2.7 announcement dated29 June 2012.

• • T k rac recordof d li i ^e ver ng prod i uct on growth
• • Track record of converting production to cash andprofit
• • Pathways identified to improve performance of Pacificassets
• • Growthopportunities identified
• • Strong balance sheet to pursue organic growth options

Appendices

Strong institutional share register, widebroker coverage

Broker Research Coverage

A S i i t t r g o n a e c r e s u u	T I i r o r n y v
B i l l i a e u	R C h t a a n r y y
B l l P t t e o e r	S h T h t e p e n o m a s
C i i t	S D i l a n e e e n e y
C L S A	J S t t a m e s e a r w
D h B k t e s c e a n u	C h i T r s e r r y
E d P t a n s a n a r n e r s v	C h M i t a o s e s y
G l d S h o m a n a c s	I P t a n r e s o n
M i E i i t a c q a r e q e s u u	M i h R t c n a y
N o m r a u	D i d R d l f f a a c e v y
P t a e r s o n s	R b B i l o r e r e y

• Approved Depositary Receipts (ADR) are trading in USA

FY13 guidance Australianoperations

		l i G a a w	f i K n g o h l l i H t e s	l T t o a
		L e o n o r a	L e o n o r a	L e o n o r a
l d d i G t o p r o u c o n	k o z	1 7 5 1 9 0 ‐	5 5 6 0 ‐	2 3 0 2 5 0 ‐
h i C t t a s o p e r a n c o s g	\$ / o z	6 0 0 0 7 7 ‐	8 4 0 8 0 7 ‐	1 0 4 7 7 5 ‐
C a p e x	\$ M	0 4 5 5 ‐	2 0 2 5 ‐	6 5 7 5 ‐

Financial highlights in FY12

Recordprofit and cash flow

• •Statutory profit up 90% to \$130M
• •Underlying NPAT [1] [ ]up 140% to \$131M
• • Cash flow fromoperations up 115% to \$222M
• • Cash flowafter funding capex \$117M [2]
• • EPSup from \$0.21 in 2011 to \$0.40 in 2012

Investment ingrowth

• •C il ap ta expenditure \$100M
• •Exploration expenditure \$21M

Balancesheet strength

• • Cashbalance at 30 June 2012 \$185M
• • Total interest bearing debt 30 June 2012 \$4M
• 1. Non‐IFRSmeasure, refer slides 32 and 33
• 1. 1. Cash flows fromoperating activities less cash flows from investing activities

AustralianProduction Summary

l d d i G P t o r o u c o n
l G i w a a	o z	4 0, 3 0 6	4 6, 0 0 7	4 3, 8 8 1	5 4, 3 4 0	1 8 4, 5 3 4
f h l l K i H i t n g o e s	o z	9, 3 4 3	1 4, 1 0 7	1 7, 1 1 0	1 6, 3 9 3	5 6, 9 5 3
h S C t o u e r n r o s s	o z	2 0, 9 9 5	2 3, 0 1 5	2 4, 8 4 9	2 8, 0 8 3	9 3 9 2 7,
l i d d C t o n s o a e	o z	7 0, 6 0 8	8 3, 6 1 5	8 5, 8 4 0	9 8, 8 1 6	3 3 8, 8 7 9
d d i G M n e r a e
l i G w a a	/ A t g u	7. 5	8. 1	9. 3	1 0. 5	8. 8
f h l l i i K H t n g o e s	/ A t g u	3 7.	3. 4	2. 4	0. 4	4 1.
h S C t o u e r n r o s s	/ A t g u	2. 7	3. 1	2. 6	3. 2	2. 9
l h i T C O t t o a a s p e r a n g	C t o s s
l i G w a a	\$ / o z	7 1 2	6 8 3	6 2 7	5 8 0	6 4 6
f h l l i i K H t n o e s g	\$ / o z	8 7 2	7 5 4	6 9 3	7 4 6	7 5 3
h S C t o e r n r o s s u	\$ / o z	1, 1 9 3	1, 2 1 5	1, 2 2 7	1, 1 2 7	1, 1 9 9
l i d d C t o n s o a e	\$ / o z	8 7 6	8 4 4	8 2 7	7 6 3	8 2 3

Production Summary

Consolidated

Australian Mineral Resources Statement ‐ As at 30June 2012*

Ca teg g ory y			d Me as ure		In	d d ica te		In	fer d re			l To ta
ion Re g	jec Pro t	To nn es ( k )	/ Au t g	ko z	( k ) To nn es	/ Au t g	ko z	( k ) To nn es	/ Au t g	ko z	( k ) To nn es	/ Au t g	ko z
	Gw lia De a ep s	4, 68 4	5.6	84 2	8, 96 5	9.5	2, 72 7	1, 60 1	7.0	36 0	15 25 0 ,	8.0	3, 93 0
	lia dia Gw Int tes a erm e de & We Lo st	0	0.0	0	14	4.4	2	55 7	6.4	11 4	57 1	6.3	11 6
Le no ra	Kin f T he Hi l ls g o	0	0 0 0.0	0	1 5 1, 53 30 0	5 5 5.5	27 3	48 0	4 8 4.8	74	2 0 2, 01 10 0	5 4 5.4	34 7
	l l To Hi we r	0	0.0	0	2, 77 9	4.6	41 1	20 7	3.9	26	2, 98 6	4.6	43 7
	bo hts Ha Lig r ur	0	0.0	0	0	0.0	0	2, 58 0	3.3	27 4	2, 58 0	3.3	27 4
	he ( ) Ot 5 r	99 1	1.0	33	2, 27 7	1.0	70	49	0.6	1	3, 31 7	1.0	10 4
To L l ta eo no ra		5, 67 5	4.8	87 5	15 56 5 ,	7.0	3, 48 3	5, 47 4	4.8	84 9	26 71 4 ,	6.1	5, 20 8
	L l h Ma rve oc	28 7	3.1	29	2, 92 9	3.2	29 9	1, 40 0	2.5	11 2	4, 61 6	3.0	44 0
	Ne ria vo	0	0.0	0	3, 73 2	3.4	40 7	32 8	4.0	42	4, 06 0	3.4	44 9
	l Tra nsv aa	0	0.0	0	1, 63 4	4.7	24 9	1, 80 2	4.9	28 6	3, 43 6	4.8	53 5
	Jac let ti co	0	0.0	0	0.0	4.6	0.0	71 5	5.5	12 6	71 5	5.5	12 6
he So ut rn	ha d le Ax e n	0	0 0 0.0	0	0	0 0 0.0	0	2 0 2, 08 82 2	2 0 2.0	13 1	2 0 2, 08 82 2	2 0 2.0	13 1
Cro ss	Co rni hm s an	0	0.0	0	11 9	4.4	17	0	0.0	0	11 9	4.4	17
	dw ds Fin d, E EF N ar & rin Ta ma	0	0.0	0	38 1	3.1	38	36 3	2.6	30	74 4	2.8	68
	Fra se rs	0	0.0	0	33 6	5.5	59	1, 78 6	5.2	29 6	2, 12 2	5.2	35 5
	lga Yi Sta rn r	0	0 0 0.0	0	38 5	6 6 6.6	82	0	0 0 0.0	0	38 5	6 6 6.6	82
	( ) Ot he 5 r	36 7	1.0	12	1, 60 5	2.7	14 0	34 5	4.5	50	2, 31 7	2.7	20 2
l he To S ta t ou rn	Cro ss	65 4	1.9	41	11 12 1 ,	3.6	1, 29 1	8, 82 1	3.8	1, 07 3	20 59 6 ,	3.6	2, 40 5
l l l R To A ion ta eg	s	6, 32 9	4.5	91 6	26 68 6 ,	5.6	4, 77 4	14 29 5 ,	4.2	1, 92 2	47 31 0 ,	5.0	7, 61 3

Notes

The information in this report that relates to Mineral Resources is based on information compiled by Mr Phillip Uttley who is ^a Fellow of The Australasian Institute of Mining and Metallurgy Phillip Uttley is ^a full time employee of Mr. Uttley, Metallurgy. ‐St Barbara Ltd and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as ^a Competent Person as defined in the 2004 Editionof the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (JORC Code).

Mr.Uttley consents to the inclusion in the statement of the matters based on his information in the form and context in which it appears.

*See ASX Announcement dated ²³ August ²⁰¹² at www.stbarbara.com.au for full details. 27

Australian Ore Reserves Statement As at 30June 2012*

Notes:

1) Ore Reserves are based on ^a gold price of A\$1,250/oz for Gwalia, King of the Hills, Tower Hill and Nevoria; A\$1,400 average for Marvel Loch Underground.

• 2) Mineral Resources are reported as inclusive of Ore Reserves.
• 3) All data is rounded to two significant figures. Discrepancies in summations will occur due to rounding.
• 4) Other relates to surface stockpiles valued at A\$1,075/oz.
• 5) * Items in Italics are carried forward from June 2011 Ore Reserve.

The information in this report that relates to Ore Reserves is based on information compiled by Mr. John de Vries, who is ^a Member of The Australasian Institute of Mining and Metallurgy. Mr. de Vries is ^a full‐time employee of St Barbara Ltd and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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" (JORC Code). Mr. de Vries consents to the inclusion in the statement of the matters based on his information in the formand context in which it appears.

*See ASX Announcement dated 23 August 2012 at www.stbarbara.com.au for full details.

South West Pacific Mineral Resources Statement ‐ As at 31December 2011

ine l be M Re 3 1 De 2 0 1 1 t ra so ur ce a s s a ce m r		Mt	/ Au t g	Mo z
l d i dg Go R e
	d Me as ur e	7. 3 3	1. 5 4	0. 3 6
	d d In ica te	3 8 6 . 0	1 2 . 2	1 9 . 4
	d & d ica d M In te ea su re	4 5. 3 9	1. 2 7	1. 8 5
	fe d In rre	1 5. 1 5	1. 2 8	0. 6 2
be S im i r
	d Me as ur e	9. 5 8	1. 1 1	0. 3 4
	d d In ica te	7 2. 7 3	1. 2 8	2. 9 9
	d & d ica d M In te ea su re	8 2. 3 2	1. 2 6	3. 3 3
	fe d In rre	1 0 1 5 8	0 9 7	3 1 8

The information in this document that relates to Exploration Results, Mineral Resources and Ore Reserves for Simberi and Gold Ridge, together with any related assessments and interpretations, has been based on information compiled by Colin Ross Hastings who is ^a Member of The Australasian Institute of Mining and Metallurgy. Colin Ross Hastings is ^a full‐time employee of St Barbara Ltd. Colin Ross Hastings has sufficient experience which is relevant to the style of mineralisation and ^t pe of deposit nder consideration and to the acti it hich he is ndertaking to q alif as ^a Competent Person as defined in the 2004 101.580.973.18typeunderactivity whichundertakingqualify Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (JORC Code). Colin Ross Hastings consents to the inclusion of the information relating to Exploration Results, Mineral Resources and Ore Reserves for Simberi and Gold Ridge contained in this document in the form and context in which it appears.

South West Pacific Ore Reserves Statement ‐ As at 31December 2011

b Or Re 3 1 D 2 0 1 1 t e se rve s a s a ec em er		Mt	/ Au t g	Mo z
l d i dg Go R e
	d Pro ve	‐	‐	‐
	ba b le Pro	2 0. 2 9	1. 7 3	1. 1 3
	l To Re ta se rve s	2 0. 2 9	1. 7 3	1. 1 3
im be i S r
	d Pro ve	1 0. 5 5	1. 0 6	0. 3 6
	ba b le Pro	3 1. 9 1	1. 6 3	1. 6 7
	l To Re ta se rve s	4 2. 4 5	1. 4 9	2. 0 3

The information in this document that relates to Exploration Results, Mineral Resources and Ore Reserves for Simberi and Gold Ridge, together with any related assessments and interpretations, has been based on information compiled by Colin Ross Hastings who is ^a Member of The Australasian Institute of Mining and Metallurgy. Colin Ross Hastings is ^a full‐time employee of St Barbara Ltd. Colin Ross Hastings has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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' (JORC Code). Colin Ross Hastings consents to the inclusion of the information relating to Exploration Results, Mineral Resources and Ore Reserves for Simberi and Gold Ridge contained in this document in the formand context in which it appears appears.

Competent Persons Statement

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr. Phillip Uttley, who is ^a Fellow of The Australasian Institute of Mining and Metallurgy. Phillip Uttley is ^a full‐time employee of St Barbara Ltd and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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" (JORC Code). Mr. Uttley consents to the inclusion in the statement of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Ore Reserves is based on information compiled by Mr. John de Vries, who is ^a Member of The Australasian Institute of Mining and Metallurgy. Mr. de Vries is ^a full‐time employee of St Barbara Ltd and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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" (JORC Code) Mr de Vries consents to the inclusion in the AustralasianResults, Reserves Code). Mr. statement of the matters based on his information in the form and context in which it appears.

The information in this document that relates to Exploration Results, Mineral Resources and Ore Reserves for Simberi and Gold Ridge, together with any related assessments and interpretations, has been based on information compiled by Colin Ross Hastings who is ^a Member of The Australasian Institute of Mining and Metallurgy Colin Ross Hastings is ^a full‐time employee of St Barbara Ltd Colin Ross Hastings has sufficient experience which is relevant to the style Metallurgy. Ltd. of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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' (JORC Code). Colin Ross Hastings consents to the inclusion of the information relating to Exploration Results, Mineral Resources and Ore Reserves for Simberi and Gold Ridge contained in this document in the form and context in which it appears.

Non‐IFRSMeasures

We supplement our financial information rep g ortin determined under International Financial Rep g ortin Standards ( ) IFRS with certain non‐IFRS financial measures, including cash operating costs. We believe that these measures provide meaningful information to assist management, investors and analysts in understanding our financial results and assessing our prospects for future performance.

h Ca in t ts s op er a g co s	lcu la d d du he l d ( ) Ca in in in in ice in T Go In i U S A te to try t t tu te • ac co r g co m m on m g s p ra c us g s du da d ( ) Pr io Co S 1 9 9 9 is io t t ta o c n s n r re v n
	fe ly ( ) la b le ba ba fo de ls Re Ju 2 0 1 2 Q Re 3‐ 4 i i te t t w t ta • r ne ua r r p or p p av a a s r ra .co m .a r w w. u
ig i f ica i S t te n n m s	lu de d f f ha he d d de I in in I F R S Ne Pr i A Ta Bo M i te t t te t t t t t • m s c o r x ar an an ag em en co ns r m ay no ( be in d ica ive f, la d in l h f i lo l d t te to t ts t o or ar e un re co re op er a g re su su c as p ro or ss on g o , he le f h ) io ig t t te t r ts op ns or sa o ne m en ,
	fe ( ) fo in ia l i la b le ba ba de i ls Re 2 0 1 2 F S 3‐ 4 ta te ts t w t ta • r an c m en p p av a a w w. s r ra .co m .a u r
de ly f f in i Un t t te ta r g ne p ro a r x	f f lu d de f d f i in i i ie ig i ica i Ne t t te ta t t te • p ro a r x ex c g n s n n m s
	( ) fe l la b le ba ba fo de ls Re 2 0 1 2 F in ia S 3‐ 4 i i ta te ts t w t ta • r an c m en p p av a a w w. s r ra .co m .a u r
de ly ha Un in in r g ea rn g s p er s re	de ly f f d ha Un in i in t t te ta • r g ne p ro a r p er or ar s re x y
ly f de in i Un t r g p ro p er ou nc e	ly f f f l de in i d du d Un t t te ta • r g ne p ro a r x p er ou nc e o g o p ro ce

Non‐IFRSMeasures

de ly ing f it Un Pr Pe Ou r o r nc e		F Y 1 2	F Y 1 1	F Y 1 0	F Y 0 9	F Y 0 8
de ly f fte Un ing it a t p tax r ne ro r	\$ A 0 0 0	1 3 0, 7 8 2	5 4, 4 3 1	1 4, 5 4 7	2 0 9	( ) 2 9, 2 9 1
l d du Go ion ct p ro	oz	3 3 8, 8 7 9	2 5 8, 4 7 4	2 3 1, 0 1 8	2 3 8, 9 0 0	1 5 7, 4 7 7
de ly ing f it Ou Un Pro Pe r r nc e	\$ / A oz	3 8 6	2 1 1	6 3	1	8 6 ‐1

Source: FY 08 toFY 12 Annual Reports, available at www.stbarbara.com.au

Investor RelationsEnquires

R K d Ross Kennedy Executive General Manager Corporate Services E:ross kennedy@stbarbara com au ross.kennedy@stbarbara.com.au

Rowan Cole General Manager Corporate Services E:rowan.cole@stbarbara.com.au

T: +61 3 8660 1900 www.stbarbara.com.auASX:SBM

Gold Ridge

Wayne Hatton-Jones General Manager, Gold Ridge Operation Analyst Site Visit 5-7 November 2012 ¹

Disclaimer

This presentation has been prepared by St Barbara Limited ( Company ) "Company"). The material contained in this presentation is for information purposes only. This presentation is not an offer or invitation for subscription or purchase of, or ^a recommendation in relation to, securities in the Company and neither this presentation nor anything contained in it shall form the basis of any contract or commitment. 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 the Company, an investor or prospective investor should read this document in its entirety, consider whether such an investment is appropriate to their particular investment needs, objectives and financial circumstances, seek legal and taxation advice appropriate to their jurisdiction and consult ^a financial adviser if necessary necessary. The Company is not licensed to provide financial product advice in respect of the Company's securities.

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, will, expects, plans or similar expressions. Such forward‐looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company. 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. Nothing in this document 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. Past performance is not an indication of future performance. Statements or assumptions in this presentation as to future matters may prove to be incorrect and any differences may be material. The Company does not make any representation or warranty as to the accuracy of such statements or assumptions. Investors are cautioned not to place undue reliance on such statements.

This presentation has been prepared by the Company 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 the Company 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 the Company or its subsidiaries or affiliates or the directors directors, employees employees, agents, representatives or advisers of any such party.

The Company estimates its reserves and resources in accordance with the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves 2004 Edition ("JORC Code"), which governs such disclosures by companies listed on the Australian Securities Exchange.

Fi i l nancialfigures are in A ^t li us ralian d ll ^o ars. Financialyear is 1 July to 30 June.

Strategic Overview

• • Immediate focus on improving operating consistency and reliability, reducing costs
• • Maximise resource base at existing deposits
• • Invest appropriately in processing capacity to capture economies of scale and maximiseNPV
• • Explore regionally to leverage existing expertise and infrastructure
• • Strive to balance interests of stakeholders equitably
• oShareholders
• oStaff
• oGovernment
• oLocal Community
• oEnvironment

GoldRidge History

• • First serious exploration started in 1939
• • Mining lease granted 12 March 1997, covering 30km2, plus special prospecting licence SPL194 covering 130km2
• • Previous owners included Ross Mining andDelta Gold
• • 1998 to June 2000, operational mine produced 210,000 oz from Valehaichichi
• • Delta abandoned the mine in June 2000 due tocivil unrest
• • GRML took control March2010
• • St Barbara took control 7 September 2012

GoldRidge Overview

f i i M L n e e	[ ] 1 i i 9 M n m u m y e a r s
C a p e x	\$ f b h i 1 5 0 t m r e u r s m e n l d b d i t t t c o m p e e o n m e o n u g e	2 0
l P t a n	l 2 5 M C I L t t p a p a n	1 0
i i M n n g	O i S i i P R 1 5 1 t. t t p e n r p a o :	2
d i P t r o c o n u	l d d k B i i 1 0 5 t n o a r o p a u g w z

[1] As at 30 June 2012

Quarterly Production (kozpa)

Safety

The company is committed to achieving ^a safe and healthy work environment for all of itsemployees, contractors, partners and visitors.

	2 0 1 2 H o u r s	2 0 1 2 L T I s
l d d G R i o g e	4 3 8 2 6 9 0 , ,	2

A t 31 S t b 2012As at September

HumanCapital

• • Construction tosteady state
• • Stablemanagement team
• •Roster 16/12

C t a e g o r y	b D e c e m e r 2 0 1 1	h M a r c 2 0 2 1	b S t e p e m e r 2 0 2 1
E t x p a s	3 9	2 9	2 3
's D C E	1 0 0	8 9	7 1
l N i t a o n a	8 5 8	8 0 7	6 4 1
l T t o a	9 6 7	9 2 5	3 7 5

Mining Overview

SiteLayout

Lifeof Mine Pit Shells

OreReserves – December 2011

l d i d i l G R M R o g e n e r a e s e r v e s	M t	/ A t u g	M o z
P r o v e n	‐	‐	‐
b b l P r o a e	2 0 2 9	1 7 3	1 1 3
l T R t o a e s e r e s v	2 0 2 9	1 7 3	1 1 3

Basedon gold price of US\$850/oz and mill throughput of 2.5 mtpa

• •LOM 9+ years as at 31 December 2011
• •Average grade over LOM is 1.70 g/t
• •Average recovery over LOM is 79%

Variability from area to area

•Average strip ratio over LOM is 1.44

Operations Flow Sheet

Mining Fleet

Q U I N E P M E T	#
C 7 4 0 t a	7
C 7 7 5 t a	6
( ) & E 3 8 5 3 4 5 t x c a v a o r s	5
d G r a e r s	3
D o z e r s	4

Processing

Project History

1997

•

•

• Ross Mining had constructed the process plant to treat the oxidized Valahaichichi mine. The Plant capacity was 2.5Mtpa using the current crush, mill, CIL andtailings tank.
• The gravity circuit from Ross Mining used ^a Knelson concentrator andgravity table.

2004‐2011

• • During the Solomon islands civil unrest, the plant was over run by the forest and the majority of the plant was stripped and damaged. The mill internals were burnt andgold room destroyed.
• • Alli de G ld ^o st td ar ^e ref bi h ^t furbishmentin 2010 and pl ^t an commissioning started in March 2011.
• • Allied Gold upgraded the circuit to include the Acacia reactor for intensive leaching, the tails thickener for better density control, the INCO process for cyanide destruction and additional 3CIL tanks for added dissolutiontime and therefore increased recovery.

2012

• September – St Barbara Limited acquired Allied Gold and obtains 100%ownership of the project.

GoldRidge Performance

Typical Recoveries by area

Gold Recovery by Ore Type (%)

P i t	O i d e x	T i i l t r a n s o n a	F h r e s
V l h i h i h i a e a c c	9 0	3 7	3 7
N h t a m a c a m a a	9 1	6 8	6 8
K p e r s u	8 9	8 1	8 1
D a w s o n s	9 5	8 5	8 5

Exploration

Gold Ridge Pacific RimGeological Setting

Gold Ridge Guadalcanal IslandGeology

Pacific Operations Site Tour – November 2012

Gold Ridge Local Geological Setting

L lG l ocal Geology

•

•

• typical low sulphidation epithermal gold deposit
• • known mineralisation extends over 1.5km x 2.5 km
• • hosted by Gold Ridge Volcanics (orange) and structurally controlled
• •open at depth
• potential for Cu Cu-Au porphyry style Au mineralisation below epithermal deposits

Present day analogy: Waimangu Geothermal system, Taupo Volcanic Zone, Eco Geol v 107, cover photo Pacific Operations Site Tour – November 2012

Gold Ridge Deposits Geology

Shallow NE dipping largely epiclastic sedimentary package

• Boulder and pebble conglomerates/breccias
• Sand and siltstone
• Minor claystone
• Occasional diorite dykes

Structures

• Bedding parallel and steep dipping veins
• NNE, N and NW faults

Alteration Haloes

• Chlorite +/- haematite (YELLOW hatching)
• Sericite-kaolinite-carbonate (MAGENTA hatching)
• Silica-pyrite (RED hatching)

Hydraulic brecciation

22 Particularly with advanced argillic (ser+kaol+ carb) alteration Pacific Operations Site Tour – November 2012

GoldRidge Deposits

Conceptual Model

Pacific Operations Site Tour – November 2012

Gold Ridge Deposits g p

G G l l d d R R i i d d M M i i l l R R ( A L D An Rp ) o g e n e r a e s o u r c e s 2 0 1 1 t n	M t	/ / A A t t u g	M M o z
M d e a s r e u	3 7	1. 4 5	0 3 6
I d i d t n c a e	3 8 1	1. 2 2	1. 4 9
M d d I d i d t e a s r e a n n c a e u	4 5. 4	1. 2 7	1. 8 5
I f d n e r r e	1 5 2	1. 2 8	0 6 2

Gold Ridge and Solomon Is g Opportunities

• E t d d d fi k f t j t ( • Extend and define known resources for current project (resource replacement)
• • Locate additional resources for expanded project
• •Under-explored area's within ML
• •Unexplored area's within Mt Vunusa SPL
• • Test for new projects elsewhere in Solomons (e.g. Avuavu, Choiseul, Isabel applications, JV opportunities)

GoldRidge Drilling

RecentActivity (Sep ¹² Qtr)

Drilling:

• •GDC028 to GDC043 completed
• •GDC044 in progress

GoldRidge Opportunities

Under‐explored ‐ Charivunga

GoldRidge Opportunities

Exploration Programme ‐ Fundamentals

i M a p p n g	l l l l h d i A N K t t • n e w e x p o s u r e s, p a r c u a r y a m a c a m a a, u p e r s a n d d k i D t t a w s o n s e p o s a n a c c e s s r a c s
R l i e o g g n g -	l d l f l b l h l b l d i i i C G i D V t t • e a e r e o g g n g o a v a a e c o r e o e s o u ‐ d d l d f d l l i 3 i i D t e p o s m o e a n r e n e r p r o g r a m m e
S i l o s	l d d l d b l C i i i i t • o m p e e r e c o n n a s s a n c e r g e ‐a n ‐s p u r s o s a n p o s s e d l d i i i L S L M P g r s o s n a n
S t r e a m s	l l d l C i i i M L t t t t • o m p e e o m p e m e n a r s r e a m s e m e n s a m p n n c y g d S P L a n
S I P r e u v y	l l f l h h h d I I P i N V i i i t t • n c r e a s e c o e r a g e p a r c a r o o a e a c c a n v u y , h d N D i t t t a m a c a m a a o a s o n s e p o s s w
D i l l i r n g	l f l l d l l i i i i C D t • o m p e e a w s o n s n c o r e r n g ‐ d d l l i i i i i i I C V G t t t • n a e e p o s e x p a n s o n c o r e r n g p r o g r a m m e

Environmental Management

Environmental Objectives

• • Ensure the project operates in accordance wi ht good i dn ustry practice, the GRML Environmental Management and Monitoring Plan (EMMP) and in compliance with environmental conditions prescribed by the Solomon IslandsGovernment
• • Maintain ^a transparent dialogue of communication between GRML and the community regarding environmental management and any incidents that occur as a result of themine s' operation

Compliance

• • GRML complies with environmental commitments to the following:
• • The GoldRidge Mining Agreement (1996)
• • Special Conditions of the Mining Lease (1997)
• • Theoriginal mine EIS (1996)
• • E i nv ronment Management Mi i on toring Plan (EMMP) is ^a document that is presently being developed to capture legislative conditions and management and monitoring requirements to ensure legislative compliance and good practices are maintained‐ due for completion in December 2012
• • GRML has not experienced any major environmental non‐compliance incidents in 2012

RoutineActivities

• • W t aer quality monit i or ng
• • Erosionand sediment control
• •Vegetation and landscape clearance permitting
• •Revegetation
• • Wastemanagement
• • Pest andweed control
• •Environmental incident investigation
• •Environmental audits/inspections
• • Provide awareness to surrounding communities regarding environmental incidents, management and monitoring
• • Report to the GRML management management, Solomon Islands Government and other stakeholders regarding the state of the environment

Major Improvements in2011 and 2012

Cyanide Management

• • All open water bodies are under 50ppm WAD which is International Cyanide Management Code (ICMC) compliant
• • Maintain an INCO CN Detox Plant which reduces CN to below50ppm
• • CNstorage facilities built to comply with ICMC

Development of ^a targeted water monitoring program

• • 27 sites to detect potential impacts of the mine vs other land users and to measure compliance with ANZECCwater guidelines
• • No non‐compliances at designated compliance points in 2011 or 2012 p

Major Improvements in2011 and 2012

Revegetation

• • Development of landscape and vegetation clearancepermit to ensure minimal disturbance
• • Revegetation activities at all relocation sites to stabilizesediments
• • In pit progressive top‐soiling and revegetation activities(using native and economic species)

Wastemanagement

• • Dl t eve opmentof ^a l dfill landfillsite for conti l nua b il ur ^a of non‐hazardouswaste
• •Segregate and recycle all recyclable waste
• • Hazardousmaterial is segregated and burnt

Competent persons statement

The information in this report that relates to Exploration Results and Mineral Resources in Australia is b d ase on information compiled by Mr. Phillip Uttley, who is ^a Fellow of The Australasian Institute of Mining and Metallurgy. Phillip Uttley is ^a full‐time employee of St Barbara Ltd and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as ^a Competent Person as defined in the 2004 Edition of the "Australasian Code for Rep g ortin of Exploration Results, Mineral Resources and Ore Reserves" (JORC Code). Mr. Uttley consents to the inclusion in the statement of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Ore Reserves in Australia is based on information compiled by Mr. John de Vries, who is ^a Member of The Australasian Institute of Mining and Metallurgy. Mr. de Vries is ^a full‐time employee of St Barbara Ltd and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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" (JORC Code). Mr. de Vries consents to the inclusion in the statement of the matters based on his information in the form and context in which it appears.

The if i ⁿ ormation in this document that relates to El i xp oration R l esu ts, Mi l nera Resources and Ore Reserves for Si b i ^m er and G ld ^o Ridge, together with any related assessments and interpretations, has been based on information compiled by Colin Ross Hastings who is ^a Member of The Australasian Institute of Mining and Metallurgy. Colin Ross Hastings is ^a full‐time employee of St Barbara Ltd. Colin Ross Hastings has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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' (JORC Code). Colin Ross Hastings consents to the inclusion of the information relating to Exploration Results, Mineral Resources and Ore Reserves for Simberi and Gold Ridge contained in this document in the form and context in which it appears.

Ross Kennedy Executive General Manager Corporate Services E:ross.kennedy@stbarbara.com.au

Rowan Cole General Manager Corporate Services E:rowan.cole@stbarbara.com.au

T: +613 8660 1900

Simberi Operations

Peter Du PlessisGeneral Manager, Simberi Operation Analyst site Visit 5-7 November 2012 ¹

Disclaimer

This presentation has been prepared by St Barbara Limited ( Company ) "Company"). The material contained in this presentation is for information purposes only. This presentation is not an offer or invitation for subscription or purchase of, or ^a recommendation in relation to, securities in the Company and neither this presentation nor anything contained in it shall form the basis of any contract or commitment. 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 the Company, an investor or prospective investor should read this document in its entirety, consider whether such an investment is appropriate to their particular investment needs, objectives and financial circumstances, seek legal and taxation advice appropriate to their jurisdiction and consult ^a financial adviser if necessary necessary. The Company is not licensed to provide financial product advice in respect of the Company's securities.

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, will, expects, plans or similar expressions. Such forward‐looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company. 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. Nothing in this document 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. Past performance is not an indication of future performance. Statements or assumptions in this presentation as to future matters may prove to be incorrect and any differences may be material. The Company does not make any representation or warranty as to the accuracy of such statements or assumptions. Investors are cautioned not to place undue reliance on such statements.

This presentation has been prepared by the Company 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 the Company 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 the Company or its subsidiaries or affiliates or the directors directors, employees employees, agents, representatives or advisers of any such party.

The Company estimates its reserves and resources in accordance with the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves 2004 Edition ("JORC Code"), which governs such disclosures by companies listed on the Australian Securities Exchange.

Fi i l nancialfigures are in A ^t li us ralian d ll ^o ars. Financialyear is 1 July to 30 June.

Simberi History

D t a e	E t v e n
1 9 8 3	l d b F i i K t t t t t t r s e x p o r a o n s a r e y e n n e c o
D 1 9 9 6 e c	d b l d d, b d f d f M L 1 3 6 i S i i G C L i i N P i i t t t s g r a n e o m e r o o m p a n y a s u s a r y o o r a c c
2 0 0 3	l l d l d d f d b h f h b i G i i i i 0 0 % i j A N P 1 t t t e o a c q u r e s o r a c c a n o a n s o w n e r s p o e p r o e c y 2 0 0 5
2 0 0 5	h d b l d d l l f l d i i i i i i i i i T O F S 5 8 5, 0 0 0 t t t t e p m s e e a s n c a e s m n e r e c o e r o n c e s o g o y u y w v u l f i i 9 4 o e r a e a r m n e e v y
2 0 0 6	f l l d d l d A i B i 2. 2 M i t t t t e o a r r e s o v e s o p r o c e e c o n s r u c o n o p a m n e
b F 2 0 0 8 e	l d d F i i t r s g o s p o u r e
2 0 0 8 M a y	T M f l f h f h l ( ) S i i i i C R t t t t t u c c e s s u c o m m s s o n n g o e s a e o e a r a e r a r o p e c o n v e y o r o p e o n
M 2 0 0 9 a y	l d d b l l i % i i G 4 5 4 7 t o r e s o r c e n c r e a s e o m o n o n c e s u y u
J 2 0 1 1 u n	f f h b h h l d h T R i i i 6 5 M t t t t t e e s o u r c e a s e a s m o r e a n r p e n e p a s v e y e a r s o o z o f d, d d d d M I i I t e a s r e n a e a n n e r r e r e s o r e s u c u c
l J 2 0 1 1 u y	l d 3 3 5 5 M M i i t t t t p p a a e x p a n s o n p a n c o n s r u c o n c o m m e n c e
S 2 0 1 2 e p	b d l l d l d d b h f h S L i i i A i G i 1 0 0 % i j B t t t t t a r a r a m e a c q u r e s e o a n o a n s o w n e r s p o e p r o e c

HumanCapital

• •Steady state
• • Stablemanagement team
• • R t oser 16/12

C t a e g o r y	b S t e p e m e r
	2 0 1 2
E t p a s x	1 7
l i N t a o n a	2 6 7
l L o c a s	3 4 9
l T t o a	6 3 3

Safety

Si b i m er is commi d tte to achi i ev ng ^a safe and h lh ea ^t y work environment foreveryone associated with us

• •Recent Fatality: 8th September ²⁰¹²
• • LTI FreeDays 37 days
• • Previous Best
• • LTI FreeDays up to 29/07/12 849 days
• • LTI Free ManHours Ach d ieve up to 29/ / 07 12 4, 555, 324

Reserves andResources

[ ] 1 i b i i l S M R m e r n e r a e s o u r c e s	M t	/ A t u g	M o z
d M e a s u r e	9 5 8	1 1 1	0 3 4
d d d d i i I I t t n c a e	2 3 . 7 7	8 . 2 1	2 9 . 9
d d d d i M I t e a s u r e a n n c a e	8 2 3 2	1 2 6	3 3 3
f d I n e r r e	0 8 . 1 1 5	0 9 7 .	3 8 . 1
[ ] 1 b l i i i S M R R m e r n e r a e e s s e e r r v v e e s s	M t	/ A t u g	M o z
P r o v e n	0 1 5 5	0 6 1	0 3 6
b b l P r o a e	3 1 9 1	1 6 3	1 6 7
l T R t o a e s e r e s v	2 4 4 5	9 1 4	2 0 3

LOM+10 years as at June 2011

[1] As at 31December 2011

Mining Fleet and Mining Rate

E Q U I P M E N T	N U M B E R
C 7 4 0 t a	1 1
l H a u m a x	4
( ) & E 3 8 5 3 4 5 t x c a v a o r s	5
d G r a e r s	2
D o z e r s	7
l T A T P D t o a v e r a g e	1 4 0 0 0 ,

Pacific Operations Site Tour – November 2012 ⁷

Processing

Simberi Mining and Milling

T Mill d (000) TonnesMilled

*ARC unavailable for 0 Days during the Sept Quarter ARCDays Quarter.

Simberi grade and production

Grade(g/t) Au

GoldProduced (koz)

Simberi Community

• • P l ti opulation ~2000, i l di nc ^u ng approx. 800local Simberi villagers
• • SGC employs more than 600 people, including 350 Simberi locals
• • Strong community support and engagement
• • 2.25% royalty, of which 2% goes to local community and local level government
• • Total royalty of more than K15 millionpaid to date
• • Simberi Gold provides infrastructure for community including Schools, Medical facilities, watersupply, roads, electricity etc

Exploration

Simberi Locality Map

Geology ‐ Tabar Islands Group Pacific RimGeological Setting

Geology ‐ Tabar Islands Group PACRIMGeological Setting

Geology ‐ Simberi Local Geological Setting

Epithermal Au ± Ag system

• • Strata-volcano with collapsed caldera
• • Intruded by a sequence of alkali to intermediate rocks
• • Arc-parallel and arc normal structural intersections control andesite and breccia emplacement
• • Broad areas of disseminated sulphide mineralisation
• • Higher gold grades occur within brecciated andesite and/or at contacts

Geology ‐ SimberiMineral Resources (as at 31 December 2011)

Example Section : PIGIPUT Deposit 44300mE

Exploration Opportunities Simberi andTatau / Big Tabar

• •Extend and define known resources for current project (resource known (resourcereplacement)
• • Locate additional resources for expanded project
• •Under-explored areas within the ML136
• •Unexplored areas within the EL609 on Simberi
• •Test for new projects elsewhere in EL609 (e.g. Banesa on Big Tabar Is)

Simberi – Work Programme ML136– Level 2 (Oxide ⁺ Sulphide)

Area 3

10

2

23(Simberi Aero-TEM Z-Ch06) ¹⁹ Pacific Operations Site Tour – November 2012

9 1

1

1

6

Simberi ‐ Oxideexpansion feed

Geology – Tatau / Big Tabar Is

Pacific Operations Site Tour – November 2012

EL609 – Work Programme Phase 1(to 5/05/2013)

A c c e s s	f d i C B t • o n r m e a a n e s a ( d b l l d ) i i i i i N T S W t t t t t • e g o a o n s n p r o g r e s s a a a c o n o n s e r a a g r e e u v y b ( h d ) i i i i i % i N S 8 t t t • e g o a o n s n p r o g r e s s a m e r a c e v e
S i l a m p n g	d l l b ( ) i i i i i G B T B t • r s o s a m p n g n p r o g r e s s a g a a r a n e s a d d b i i i S S t t t • r e a m s e m e n c o m m e n c e a m e r d l b i i i i R S S t t t t t • g e‐ n‐ p r s o s e o s a r a m e r u y
I P	f b l d b C i i i i P t t t t t t • o n r a c n e g o a o n s o e n a s e y r o c u r e m e n / / d d d b l l d G i i i i t t t • + r n g s a r e e q u p m e n c o n s u m a e s n p a c e o n o r e r
i i D l l r n g	d d D D T T t t t t • e p e n e n o n a a a c c e s s u l i i i i L t • o g s c s p a n n n g n p r o g r e s s
R i t e p p o r n g g	h 6 2 2, 2 3 R F t t • m e p o r o r m s h h 6 2 2, 2 3 R F t t • m e p o r o r m s l b [ d f b ) i‐ i i i B R t • a n n u a e p o r e n g p r e p a r e o r s u m s s o n
R l e n e a w	/ / l l b b d b f i i i R 5 0 2 1 3 t t t t • e n e w a a p p p p c a o n o e s u m e e o r e / / / / k f d i i 0 3 0 R 5 5 1 5 5 1 5 • e q u r e s w o r p r o g r a m m e o r p e r o –

Environmental Management

• • Ensure the project operates in accordance with good industry practice, the SGCL Environmental Management and Monitoring Plan (EMMP) and in compliance with the environmental conditions prescribed by the PNG Government.
• • Maintain ^a transparent dialogue of communication between SGCL and the community regarding environmental management and any incidents that occur as a result of themines operation.

Compliance

• • SGCL complies with the f ll i ^o ow ng environmental commitments:Environmental Permits:
• • Water extraction: WE‐L3(15)
• •Water discharge: WD‐L3(36).
• • Environmental Management and Monitoring Plan.
• • The Environment Management Monitoring Plan (EMMP) is ^a document that prescribes the monitoring and management that is required to meet the legislative requirements of theEnvironmental Permits.

RoutineActivities

• • The Environment Management Monitoring Plan (EMMP) is ^a document that prescribes the monitoring and management that is required to meet the legislative requirements of the EnvironmentalPermits
• • Water quality monitoring (streams, process and marine)
• • Erosionand sediment control and monitoring
• •Vegetation and landscape clearance permitting
• •Re‐vegetation

RoutineActivities

• • W t as emanagement
• • Pest andweed control
• •Environmental incident investigation
• •Environmental audits/inspections
• •Coral reef monitoring
• • Marine fishtissue monitoring
• •Community awareness
• • Report to the SGCL management management, PNG Government and other stakeholders regarding thestate of the environment

Major Improvements in2011 and 2012

Cyanide Management

• • Noopen water b di ^o es contii ^{a n} ng CN.
• • No CN detected above 0.04ppm WAD in marine waters.
• • I t ll ti Installation of INCO CN d ^{t e} ox pl ^t an and ^t ili ^a ngs thickener to improve CN management (scheduled completion December 2012).

S di ement Management

• Two sediment weirs have been constructed in Monum Creek downstream of Sorowar Waste Rock Dump to acti l ve y mii i ^{n m} ze sedi i mentation of surface andmarine waters, with successful results.

Major Improvements in2011 and 2012

Revegetation

• • Progressive rehabilitation and regeneration of closed pit sites, windrows and exploration sites such as Samat and Sorowar pits
• • Continual propagation and hardening of native plant species at the SGCL nursery, for transplanting to revegetation sites.
• • Closureplan is presently in revi is on.

Simberi Oxide Plant Expansion & Power Station Replacement

Alistair Croll ChiefOperating Officer

Simberi Projects

Simberi Projects

• • Increase the pl ^t an th h ^t roughputfrom nominal2.5Mtpa to 3.5Mtpa
• • Gold production will increase from current~72,000 ozpa to ~95,000 ozpa
• • Accelerate royalties commensurate with increasedthroughput
• •Strengthens the business
• • Increase in workforce from current 650 to~700
• • Construction work force approximately 90people
• • Target to be commissioned by March 2013

OxidePlant Expansion Scope

• •Upgrade of rope conveyor to 600tph
• • Newore reclaimer at Pigiput
• • New 2.5MW SAG mill, scats crusher & associatedclassification
• • 2 new2,500m³ leach tanks
• • New 26mdiameter tails thickener
• • Newtails cyanide dilution circuit
• • Replacement heavy‐vehicle workshop at Pigiput & new HV service shop at Sorowar.
• • Additional mining fleet to achieve annual mi i nng rates of 8Mt

OxidePlant Site Layout

Process FlowSheet

Pacific Operations Site Tour – November 2012

Power ConversionScope

• • Current contract (Aggreko) diesel fired power supply lapses in 2012
• • Replaces Contractor power station with HFO st ti ^a on, Company O d wne & Operated
• • Wartsila HFO fired gensets ‐ 7x1.5MW sets
• • Installed power 10.5MW, continuous base load 6MW(expanded plant)
• • Annual HFO requirement ~14,000 tonnes
• •Fuel spec HFO180 cst, 1.0% sulphur max
• • Forecast HFO power station operating cost will realise ~30% saving, equates to \$50 per oz saving compared to current dieselpower generation

Power Conversion

• • Power st ti a on commii i ss on ng on LFO (diesel) December 2012
• • Gensets delivered (7 off) and placed (4 off)
• • 2x2,400t HFO storage tanks completed
• •Switchgear and transformers installed
• • Aggreko to be demobilised December 2012
• • First HFOde ^e y liv ^r in No ^e be ^{v m r}
• • Install last 3 gensets & commission on HFOin March Qtr 2013
• • Plant operator & maintenance training in progress

Simberi – Possible Sulphide Project

Simberi Projects

• • Discovered in mid 1980's with hole P1 intersecting 5m@183g/t Au from193m at Pigiput Ridge
• • Main sulphide mineralisation occurs at Pigiput with other mineable sulphide ores from all the other knowndeposits
• • Ore is refractory with gold containedwithin pyrite
• • S i cop ng S d tu y (2009) i di d ⁿ catedore roasting as an appropriate treatment method for Simberi refractory ores
• • Commenced pilot plant roaster trials. Study has been placed on yp hold while SBM reviews the work todate.

PossibleSulphide Project

Competent persons statement

The information in this report that relates to Exploration Results and Mineral Resources in Australia is b d ase on information compiled by Mr. Phillip Uttley, who is ^a Fellow of The Australasian Institute of Mining and Metallurgy. Phillip Uttley is ^a full‐time employee of St Barbara Ltd and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as ^a Competent Person as defined in the 2004 Edition of the "Australasian Code for Rep g ortin of Exploration Results, Mineral Resources and Ore Reserves" (JORC Code). Mr. Uttley consents to the inclusion in the statement of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Ore Reserves in Australia is based on information compiled by Mr. John de Vries, who is ^a Member of The Australasian Institute of Mining and Metallurgy. Mr. de Vries is ^a full‐time employee of St Barbara Ltd and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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" (JORC Code). Mr. de Vries consents to the inclusion in the statement of the matters based on his information in the form and context in which it appears.

The if i ⁿ ormation in this document that relates to El i xp oration R l esu ts, Mi l nera Resources and Ore Reserves for Si b i ^m er and G ld ^o Ridge, together with any related assessments and interpretations, has been based on information compiled by Colin Ross Hastings who is ^a Member of The Australasian Institute of Mining and Metallurgy. Colin Ross Hastings is ^a full‐time employee of St Barbara Ltd. Colin Ross Hastings has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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' (JORC Code). Colin Ross Hastings consents to the inclusion of the information relating to Exploration Results, Mineral Resources and Ore Reserves for Simberi and Gold Ridge contained in this document in the form and context in which it appears.

Ross Kennedy Executive General Manager Corporate Services E:ross.kennedy@stbarbara.com.au

Rowan Cole General Manager Corporate Services E:rowan.cole@stbarbara.com.au

T: +613 8660 1900