ST BARBARA LIMITED — Investor Presentation 2012

Sep 17, 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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Presentation to Deutsche Bank Australia Gold Corporate Forum

Attached is a presentation being given today by Garth Campbell-Cowan, Chief Financial Officer, to the Deutsche Bank Australia Gold Corporate Forum in Sydney.

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Ross Kennedy

Executive General Manager Corporate Services Company Secretary 18 September 2012

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Creation of a growing international gold company Deutsche Bank Gold Corporate Day Garth Campbell-Cowan, CFO 18 September 2012

1

Disclaimer

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This presentation has been prepared by St Barbara Limited (“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. 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, 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.

Financial figures are in Australian dollars. Financial year is 1 July to 30 June.

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Creation of a growing international gold company – September 2012

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Company Overview

3

Creation of a growing international gold company – September 2012

Combination with Allied Gold

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• On 7 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 combination for St Barbara shareholders

• St Barbara is now the largest ASX listed mid-tier gold company for:

• Gold production

• Ore reserves

• Mineral resources

• The acquisition includes two gold operations:

• Gold Ridge, Solomon Islands

• Simberi, Papua New Guinea

• Significant near mine and regional exploration along Pacific Rim

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Creation of a growing international gold company – September 2012

Three diverse and established gold operations; all underpinned by long life ore reserves and each ros ective for rowth p p g

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• Reserves: 5.7 Moz Simberi

• Resources: 16.6 Moz Simberi FY13F production[2] : 435 koz • Expanding oxide plant • FY13F: 70 – 80 koz[1] • 9+ year mine life

• Gold Ridge • Near mine targets for exploration

• • Sulphide expansion potential

• Proven development and operations credentials

• Leonora Gold Ridge

• Leonora • Oxide open pit mine

• Southern Cross •

• • High grade underground • FY13F: 95 – 105 koz[1 ]

• Gwalia mine •

• • 9+ year mine life FY13F production: 175-190 koz • Near mine targets for

• • exploration 9+year mine life

• Expanding oxide plant

• Processing plant upgraded

• Ore body open at depth

• • King of the Hills underground mine FY13F production 55-60 koz

• Based on internal life of mine plans assuming no change in production as a result of the transaction.

• Combined production for the full financial year.

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Creation of a growing international gold company – September 2012

Enhanced Diversification

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Reserves by Asset [1 ]
St Barbara Combined Group Allied Gold
(2.5 Moz) (5.7 Moz) (3.2 Moz)
13% 20%
34%
6%
5% 36%
64%
76%
36%
5%
2%
3%
FY13F Production by Asset (midpoint) [2 ]
St Barbara Combined Group Allied Gold
(c.260 koz) (c.435 koz) (c.175 koz)
22% 23%
42% 43%
9% 57%
70% 17%
13% 5%
1. As at 30 June 2012 for St Barbara and as at 31 December 2011 for
Allied Gold.
2. Based on internal life of mine plans assuming no change in Gwalia Tower Hill Southern Cross
production as a result of the transaction. Also subject to risks described 6
in the rule 2.7 announcement dated 29 June 2012. King of the Hills Simberi Gold Ridge
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Creation of a growing international gold company – September 2012

St Barbara, a leading Australian listed mid tier gold company

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#1 Resources Position (Moz)[1]

#1 Reserves Position (Moz)[1 ]

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Reserves Grade
16.6
13.9
8.0 12.0
10.3 9.8 5.7 5.3
6.0 9.0
4.4
3.7
4.0 3.2 3.0 2.9 6.0
2.4
8.0 6.5 6.2 5.0 4.5 4.3 3.6 3.1 2.8 2.1 1.4 0.4 2.0 1.3 0.8 0.6 0.6 0.5 0.4 0.2 0.0 3.0
0.0 0.0
#1 FY13F Production Position (koz) [2 ]
435 428 405 404
349
266 258
208 178 173 152
111 109 88 74
42
1. Gold only reserves and resources based on most recently disclosed company filings.
CGA Regis CGA
Alacer Focus Regis
Tanami Integra Focus
St Barbara Oceanagold Resolute Evolution Kingsgate Silver Lake Saracen Medusa North. Star Kingsrose St Barbara Alacer Gold Resolute Oceanagold Evolution Kingsgate Silver Lake Saracen Medusa Integra Tanami North. Star Kingsrose
St Barbara Alacer Resolute Evolution Regis Oceangold Kingsgate CGA Focus Silver Lake Saracen Integra Medusa North Star Tanami Kingsrose
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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.

Creation of a growing international gold company – September 2012

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FY12 Performance

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Creation of a growing international gold company – September 2012

Financial highlights – FY12

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Record profit and cash flow

• Statutory profit up 90% to $130M

• Underlying NPAT[[1]] up 140% to $131M

• Cash flow from operations up 115% to $222M

• Cash flow after funding capex $117M[[2] ]

• EPS up from $0.21 in 2011 to $0.40 in 2012

Investment in growth

• Capital expenditure $100M

• Exploration expenditure $21M

Balance sheet strength

• Cash balance $185M

• Total interest bearing debt $4M

• Non-IFRS measure, calculation in Appendix

• Cash flows from operating activities less cash flows from investing activities

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Creation of a growing international gold company – September 2012

St Barbara has a proven operating capability and a track record of translating production into profit

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Gold Production +116%

Underlying NPAT[[1] ] +140%

FY 08 to FY 12

FY 11 to FY 12 131

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339
258
239
231
157
FY 08 FY 09 FY 10 FY 11 FY 12 FY 12
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koz

Financial years to 30 June

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54
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15
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0.2
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FY 09 FY 10 FY 11 FY 12
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A$M

Financial years to 30 June [1] Non-IFRS measure, calculation in Appendix

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Creation of a growing international gold company – September 2012

Allied Gold acquisition consistent with Company strategy to grow earnings and cash per share

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Allied Gold acquisition NAV accretive immediately & EPS accretive after first year

Cash Flow From Operations Per Share

EPS

$0.68

$0.40

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$0.21

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$0.11

$0.26

$0.36

-$0.14 FY 10 FY 11 FY 12

FY 09 FY 10 FY 11 FY 12

A$

Shares adjusted for 6:1 consolidation Nov 2010

A$

Shares adjusted for 6:1 consolidation Nov 2010

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Creation of a growing international gold company – September 2012

Strong balance sheet – Post Allied Gold acquisition

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• Issued Shares: 488M[2 ]

• Market Cap: A$969M

• At combination date:

• Total debt expected to be approx. A$195M[1]

• Net debt expected to be < A$100M[1]

• Gearing < 20%[1,4]

• Gearing reduces significantly over next two years

• Upside exposure to gold for 80+% of revenue and 95+% reserves[5 ]

• Ability to fund exploration and expansion projects from cash flow

  1. Includes gold loan at estimated A$75M

  2. Shares on issue 13 September 2012

  3. Shares on issue post-combination at A$1.985 ea closing price on 14 Sep 2012 4. Debt / debt + equity

  4. Estimated FY13 revenue and reserves as at September 2012

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Creation of a growing international gold company – September 2012

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Gold operations

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Creation of a growing international gold company – September 2012

Gwalia Mine, Leonora, WA

- high quality, long life, rich gold deposit

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• Ore Reserves of 6.9 Mt at

• 8.7 g/t Au containing 1.9 Moz of gold[ [1]]

• Mineral Resources

extended to 1,840 mbs, open to north, south and at depth

• Indicative 9+ year mine life

• based on Ore Reserves

• FY13 forecast

  • production 175 – 190

    • koz

  • cash costs A$670 -

    • 700/oz

[1] As at 30 June 2012.

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Creation of a growing international gold company – September 2012

Simberi, Papua New Guinea Growing gold production, highly ros ective Western Pacific Rim p p

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• 2.0 Moz Ore Reserves[1, 2 ]

• 6.5 Moz Mineral Resources[1]

• Anticipated 70-80 koz for FY13

• Oxide expansion to be completed in FY13 lifts production to 100 koz p.a.

• 9+ year mine life

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• Significant cost reduction initiatives underway

• Sulphide BFS underway

• As at 31 Dec 2011, relevant statements in appendices.

15

Includes: Oxide 0.8 Moz, Sulphide 1.1 Moz, Transitional 0.1 Moz.

Creation of a growing international gold company – September 2012

Gold Ridge, Solomon Islands Long life operation with near mine otential p

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• 1.1 Moz Ore reserves[1 ]

• 2.5 Moz Mineral Resources[1 ]

• Targeting production of 105 koz pa

• 9+ year mine life

• Significant near mine potential

• Significant cost reduction opportunities

• Australian-led Regional Assistance Mission to the Solomon Islands continuing to support and develop the police force

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1. As at 31 Dec 2011, relevant statements in appendices.

Creation of a growing international gold company – September 2012

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Exploration targets and organic growth opportunities

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Creation of a growing international gold company – September 2012

FY13 focus on extending near mine reserves and targeting new discoveries

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• Exploration spend $25+M Active drilling programs Simberi Simberi • Ore bodies open • Near mine targets for exploration

• Leonora Gold Ridge • Sulphide potential

• • Gwalia open at depth • King of the Hills remains open along strike

• • Attractive regional Gold Ridge targets. • Ore bodies open • Near mine targets for

• East Lachlan exploration

• Leonora • Regional exploration

• Southern Cross

Southern Cross

• Mineral resources identified East Lachlan

• • Targets to follow up previous results • Prospective exploration area for copper-gold porphyry mineralisation

Tabar-Tatau

• Exploration potential

• Multiple drilling targets on both islands

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Creation of a growing international gold company – September 2012

Simberi and Gold Ridge in world class Western Pacific Rim

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North
WOODLARK
2Moz
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Creation of a growing international gold company – September 2012

Simberi – exploration potential within mining lease and EL 609

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• Large hydrothermal mineralized gold system exposed 4km x 2km.

• Prospective area twice as large on eastern side.

• Excellent geological data base to target drill testing.

• Significant opportunity to expand sulphide resources

• Potential for higher grade deposits in competent volcanic units.

• Western side relatively unexplored – partially covered by post-mineralization volcanic ash.

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Creation of a growing international gold company – September 2012

Gold Ridge Extensional Potential

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• Known ore bodies in a large system where gold mineralisation extends 1.5 x 2.5 km

• Established mineralization at Charivunga, requires infilling for conversion to resource

• Has near surface open pit and underground potential.

• Possible feeder zone for known mineralization.

• Potential for high grades.

• Untested soil anomalism between Kupers and Dawson providing drill-ready targets that could significantly expand mining options.

• Limited exploration to south of Dawsons

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Highly prospective extensional targets

Creation of a growing international gold company – September 2012

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What to expect

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Creation of a growing international gold company – September 2012

Plans for Simberi and Gold Ridge – improving operating capabilities

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Phase 1 – FY2013

• Integration of Allied Gold well underway

• Includes strategic review of Simberi and Gold Ridge

• Update guidance after strategic review – December 2012

• Simberi and Gold Ridge FY13 performance objectives:

• Achieve production reliability and improvements

• Reduce cash operating costs

• Complete Simberi Oxide expansion project

• Drilling of infill targets at Simberi and Gold Ridge

• Commence exploration work on Simberi EL609

• Phase 2

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

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Creation of a growing international gold company – September 2012

Diversified project pipeline spanning exploration to gold production

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Project Pipeline
LEONORA YILGARN
EAST LACHLAN
EXPLORATION REGION TARGETS
SOUTHERN
GWALIA REGION TABAR - TATAU
CROSS
ADVANCED
SIMBERI NEAR GOLD RIDGE NEAR
MINE MINE
SCOPING/
TOWER HILL
CONCEPT
SIMBERI
FEASIBILITY
SULPHIDES
EXPANDING GOLD RIDGE SIMBERI OXIDE
PRODUCING
KING OF THE
GWALIA SOUTHERN CROSS
HILLS
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Production Profile[1 ]

Gold production (koz)

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600
500
400
300
200
100
0
2011A 2012A 2013F
Gwalia King of the Hills Simberi
Gold Ridge Southern Cross
1. Based on internal life of mine plans assuming no change in production
as a result of the transaction. Also subject to risks described in the rule
2.7 announcement dated 29 June 2012.
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Creation of a growing international gold company – September 2012

Significant re-rating potential

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EV/Reserves (A$/oz)[1,2]

EV/Resources (A$/oz)[1,2]

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659
2,807
2,077 378 371
330
945
837
229
Peer average: 194
629 587 Peer average: 588 191 175 164
119 113
93 89 89
71 64
387 360 348 311 294 250 250 233 186 43
Tanami Gold Silver Lake Kingsgate Alacer Gold Oceanagold CGA Mining St Barbara Kingsgate Silver Lake Alacer Gold CGA Mining Tanami Gold Oceanagold St Barbara
Northern Star Resources Medusa Mining Integra Mining Regis Resources Evolution Mining Saracen Mineral Focus Minerals Resolute Mining Kingsrose Mining Medusa Mining Regis Resources Northern Star Resources Integra Mining Evolution Mining Resolute Mining Saracen Mineral Focus Minerals
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1. Enterprise value figures calculated by adding most recently disclosed net debt and minority interest figures to market capitalisation as at 14 September 2012.

2. Gold only reserves and resources based on most recently disclosed company filings.

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Creation of a growing international gold company – September 2012

Investment opportunity

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• Track record of delivering production growth

• Track record of converting production to cash and profit

• Pathways identified to improve performance of Pacific assets

• Growth opportunities identified

• Strong balance sheet to pursue organic growth options

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Creation of a growing international gold company – September 2012

Appendices

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Creation of a growing international gold company – September 2012

Strong institutional share register, wide broker coverage

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Broker Research Coverage Argonaut Securities Troy Irvin Baillieu Ray Chantry Bell Potter Stephen Thomas Citi Daniel Seeney CLSA James Stewart Deutsche Bank Chris Terry Evans and Partners Cathy Moises Goldman Sachs Ian Preston Macquarie Equities Mitch Ryan Nomura David Radclyffe Patersons Alex Passmore

• Approved Depositary Receipts (ADR) are trading in USA

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Creation of a growing international gold company – September 2012

FY13 guidance Australian operations

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King of Gwalia Total the Hills Leonora Leonora Leonora

Gold production koz 175-190

55-60 230-250

Cash operating cost $/oz 670-700 840-870 710-745

Capex $M

45-50

20-25 65-75

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Creation of a growing international gold company – September 2012

Board of Directors Board of Directors

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S J Colin Wise

Chairman – Non Executive

Mr Wise is an experienced corporate lawyer, consultant and company director with significant expertise in the mining and exploration industry and resources, energy and corporate sectors. He spent 24 years with WMC, including 10 years as General Counsel, and subsequently, 4 years as Counsel to a New York law firm. He has extensive practical experience in Australia and internationally with a wide range of corporate, operational and legal matters.

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Douglas W Bailey Director– Non Executive

Mr Bailey was the Chief Financial Officer of Woodside Petroleum Ltd between 2002 and 2004 and previously, was an Executive Director of Ashton Mining Limited from 1990 to 2000, including the last 3 years as Chief Executive Officer. He also was a Non Executive Director of Aurora Gold Ltd for the period 1993-2000.

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Elizabeth (Betsy) A Donaghey Director– Non Executive

Ms Donaghey is a civil engineer and has extensive oil and gas industry and corporate experience. This included roles with BHP Billiton for 19 years in gas marketing, reservoir engineering and business planning and analysis. More recently, she spent 9 years with Woodside Energy in various senior gas business and strategic planning roles, culminating in the executive leadership of Woodside Energy’s Australian business unit, with assets generating annual revenue exceeding $1 billion and new projects with $1.5 billion capital investment and, subsequently, the business unit developing the Browse LNG project.

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Phillip C Lockyer Director– Non Executive

Mr Lockyer is an experienced mining engineer and metallurgist with over 40 years experience in the mineral industry with an emphasis on gold and nickel, in both underground and open pit operations. He was employed by WMC for 20 years and as General Manager for WA was responsible for the Company’s nickel division and gold operations. He then was Director Operations for Dominion Mining and subsequently Resolute Limited.

Timothy J Lehany Managing Director & CEO

Mr Lehany joined St Barbara in March 2009, and has over 20 years extensive operating experience with a number of mining companies, including Newcrest Mining Limited and WMC Limited. Mr Lehany is a mining engineer, and has held operating, management and executive roles in gold, base metal and nickel mining. Immediately prior to joining St Barbara, he was Executive General Manager Operations with Newcrest Mining.

Robert K Rae Director– Non Executive

Mr Rae is a Director and Partner of McClintock Associates, a private investment bank and advisory firm and has extensive industry and corporate experience. Mr Rae has held previous directorships within the mining industry including Plutonic Resources, Ashton Mining, WA Diamond Trust and Centralian Minerals.

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Creation of a growing international gold company – September 2012

Executive management Executive Management

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Tim Lehany

Managing Director and Chief Executive Officer

Tim joined St Barbara in March 2009, and has over 20 years extensive operating experience with a number of mining companies, including Newcrest Mining Limited and WMC Limited. Tim is a mining engineer, and has held operating, management and executive roles in gold, base metal and nickel mining. Immediately prior to joining St Barbara, he was Executive General Manager Operations with Newcrest Mining.

Alistair Croll

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Chief Operating Officer

Alistair joined St Barbara as COO in 2012, and has extensive experience in all aspects of mining operations, including technical, project and general management roles up to Managing Director. Alistair is equally comfortable in open pit and underground operations, with experience in gold, platinum, diamond, manganese, chrome and nickel. Alistair has held senior roles with Kimberley Diamond Company, Blina Minerals and Consolidated Minerals in Australia, and in South Africa with Anglo Platinum and 17 years with the De Beers Group.

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Garth Campbell-Cowan Chief Financial Officer

Garth has been with St Barbara since September 2006 and is responsible for finance, treasury, taxation, reporting and business analysis, corporate planning and capital management. He has repositioned the finance team to focus on developing financial reporting systems and controls to assist with the Company's growth. Previously, Garth was Director of Corporate Accounting at Telstra and has held finance leadership roles with WMC and Newcrest Mining.

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Ross Kennedy

Executive General Manager Corporate Services/Company Secretary

Ross has been with St Barbara since 2004. He has 24 years of experience in corporate administration, including 12 years in the minerals and resources sector, and 10 years as a management consultant. Ross leads the Corporate Services team. Key responsibilities include designing and executing plans for investor relations, legal and compliance, risk management and ensuring that Company Secretariat functions continue to develop in line with the Company's growth.

Phil Uttley

Executive General Manager Discovery and Growth

Phil is an experienced exploration executive with 35 years of industry experience having held senior positions in Sino Gold, SRK Consulting and Renison Goldfields Consolidated (formerly Gold Fields). He has a B.Sc Hons. (Geol. & Mineral) from University of Queensland and is an experienced exploration geologist, with a demonstrated track record in gold discoveries and establishment of resources for gold production. Phil joined St Barbara in September 2009.

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Creation of a growing international gold company – September 2012

Australian Production Summary

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	Production Summary Consolidated	Sep Qtr FY12 Dec Qtr FY12 Mar Qtr FY12 Jun Qtr FY12 Year FY12
	Gold Production Gwalia oz King of the Hills oz Southern Cross oz Consolidated oz Mined Grade Gwalia g/t Au King of the Hills g/t Au Southern Cross g/t Au Total Cash Operating Costs Gwalia $/oz King of the Hills $/oz Southern Cross $/oz Consolidated $/oz	40,306 46,007 43,881 54,340 184,534 9,343 14,107 17,110 16,393 56,953 20,959 23,501 24,849 28,083 97,392
		70,608 83,615 85,840 98,816 338,879 7.5 8.1 9.3 10.5 8.8 3.7 4.3 4.2 4.0 4.1 2.7 3.1 2.6 3.2 2.9 712 683 627 580 646 872 754 693 746 753 1,193 1,215 1,272 1,127 1,199
		876 844 827 763 823

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Creation of a growing international gold company – September 2012

Australian Mineral Resources Statement - As at 30 June 2012*

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Category		Measured	Measured		Indicated	Indicated		Inferred	Inferred			Total
Region	Project	Tonnes (k)	Au g/t	koz	Tonnes (k)	Au g/t	koz	Tonnes (k)	Au g/t	koz	Tonnes (k)	Au g/t	koz
	Gwalia Deeps	4,684	5.6	842	8,965	9.5	2,727	1,601	7.0	360	15,250	8.0	3,930
	Gwalia Intermediates &WestLode	0	0.0	0	14	4.4	2	557	6.4	114	571	6.3	116
Lenora	King of The Hills	0	0.0	0	1,530	5.5	273	480	4.8	74	2,010	5.4	347
	Tower Hill	0	0.0	0	2,779	4.6	411	207	3.9	26	2,986	4.6	437
	Harbour Lights	0	0.0	0	0	0.0	0	2,580	3.3	274	2,580	3.3	274
	Other (5)	991	1.0	33	2,277	1.0	70	49	0.6	1	3,317	1.0	104
Total Leonora		5,675	4.8	875	15,565	7.0	3,483	5,474	4.8	849	26,714	6.1	5,208
	Marvel Loch	287	3.1	29	2,929	3.2	299	1,400	2.5	112	4,616	3.0	440
	Nevoria	0	0.0	0	3,732	3.4	407	328	4.0	42	4,060	3.4	449
	Transvaal	0	0.0	0	1,634	4.7	249	1,802	4.9	286	3,436	4.8	535
	Jaccoletti	0	0.0	0	0.0	4.6	0.0	715	5.5	126	715	5.5	126
Southern	Axehandle	0	0.0	0	0	0.0	0	2,082	2.0	131	2,082	2.0	131
Cross	Cornishman	0	0.0	0	119	4.4	17	0	0.0	0	119	4.4	17
	Edwards Find, EFN & Tamarin	0	0.0	0	381	3.1	38	363	2.6	30	744	2.8	68
	Frasers	0	0.0	0	336	5.5	59	1,786	5.2	296	2,122	5.2	355
	Yilgarn Star	0	0.0	0	385	6.6	82	0	0.0	0	385	6.6	82
	Other (5)	367	1.0	12	1,605	2.7	140	345	4.5	50	2,317	2.7	202
Total Southern	Cross	654	1.9	41	11,121	3.6	1,291	8,821	3.8	1,073	20,596	3.6	2,405
Total All Regions		6,329	4.5	916	26,686	5.6	4,774	14,295	4.2	1,922	47,310	5.0	7,613

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 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.

33

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

Creation of a growing international gold company – September 2012

Australian Ore Reserves Statement As at 30 June 2012*

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Category		Proved	Proved	Proved	Probable	Probable	Probable	Total	Total	Total
Region	Project	Tonnes(k)	Aug/t	koz	Tonnes(k)	Aug/t	koz	Tonnes(k)	Aug/t	koz
Leonora	Gwalia Deeps	1,279	8.5	348	5,601	8.8	1,577	6,880	8.7	1,925
	Tower Hill*				2,699	3.8	329	2,699	3.8	329
	King of the Hills				955	5.0	153	955	5.0	153
Total Leonora		1,279	8.5	348	9,255	6.9	2,060	10,534	7.1	2,407
Southern Cross	Marvel Loch	6	4.9	1	349	2.4	26	355	2.4	27
	Nevoria Underground*				713	4.0	80	713	3.5	80
	Other (SXO Stock Piles)	367	1.0	12				367	1.0	12
Total Southern Cross		373	1.1	13	1,062	3.1	107	1,435	2.6	120
Total All Regions		1,652	6.8	361	10,317	6.5	2,166	11,969	6.6	2,527

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 form and context in which it appears.

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

Creation of a growing international gold company – September 2012

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

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Mineral Resources as at 31 December 2011	Mineral Resources as at 31 December 2011	Mt	Au g/t	Moz
Gold Ridge
	Measured	7.33	1.54	0.36
	Indicated	38.06	1.22	1.49
	Measured & Indicated	45.39	1.27	1.85
	Inferred	15.15	1.28	0.62
Simberi
	Measured	9.58	1.11	0.34
	Indicated	72.73	1.28	2.99
	Measured & Indicated	82.32	1.26	3.33
	Inferred	101.58	0.97	3.18

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 form and context in which it appears.

35

Creation of a growing international gold company – September 2012

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

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Ore Reserves as at 31 December 2011	Ore Reserves as at 31 December 2011	Mt	Au g/t	Moz
Gold Ridge
	Proved	-	-	-
	Probable	20.29	1.73	1.13
	Total Reserves	20.29	1.73	1.13
Simberi
	Proved	10.55	1.06	0.36
	Probable	31.91	1.63	1.67
	Total Reserves	42.45	1.49	2.03

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 form and context in which it appears.

36

Creation of a growing international gold company – September 2012

Competent Persons Statement

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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 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 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.

37

Creation of a growing international gold company – September 2012

Non-IFRS Measures

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We supplement our financial information reporting determined under International Financial Reporting 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.

Cash operating costs

• Calculated according to common mining industry practice using The Gold Institute (USA) Production Cost Standard (1999 revision)

• Refer June 2012 Quarterly Report (pp 3-4) available at www.stbarbara.com.au for details

Significant items

• Items included in IFRS Net Profit After Tax that the Board and Management consider may not be indicative of, or are unrelated to, core operating results (such as profit or loss on gold options, or the sale of tenement rights)

• Refer 2012 Financial Statements (pp3-4) available at www.stbarbara.com.au for details

• Underlying net profit after tax • Net profit after tax excluding identified significant items

• Refer 2012 Financial Statements (pp3-4) available at www.stbarbara.com.au for details

• Underlying earnings per share • Underlying net profit after tax per ordinary share

• Underlying profit per ounce • Underlying net profit after tax per ounce of gold produced

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Creation of a growing international gold company – September 2012

Non-IFRS Measures

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Underlying Profit Per Ounce		FY 12	FY 11	FY 10	FY 09	FY 08
Underlying net profit after tax	A$000	130,782	54,431	14,547	209	(29,291)
Gold production	oz	338,879	258,474	231,018	238,900	157,477
Underlying Profit Per Ounce	A$/oz	386	211	63	1	-186
Source: FY 08 to FY 12 Annual Reports, available at www.stbarbara.com.au

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Creation of a growing international gold company – September 2012

Investor Relations Enquires

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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: +61 3 8660 1900 www.stbarbara.com.au ASX: SBM

40

Creation of a growing international gold company – September 2012