ST BARBARA LIMITED — Investor Presentation 2012

Aug 5, 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 analysts and investors attending the 2012 Diggers & Dealers Mining Forum

Attached is a presentation to analysts and investors attending the 2012 Diggers & Dealers Mining Forum in Kalgoorlie, Western Australia, by Tim Lehany, Managing Director and CEO.

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Ross Kennedy

Executive General Manager Corporate Services Company Secretary 6 August 2012

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Proven Performance, Creating Value

Diggers and Dealers Mining Forum 6-8 August 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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Diggers & Dealers Mining Forum – August 2012

St Barbara at a glance

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• Australian gold producer and explorer

• Two operations, three mines

• Proven development and operations credentials

• FY 12 production 339,000 ounces

• Ore Reserves 2.8 Moz (14.7 Mt @ 5.8 g/t Au) contained gold[[1]]

• Gwalia Mineral Resources increased in FY11 by 515,000 ounces at $16 per ounce discovery cost

• 5,000+ km[2] of prospective land

• Net cash at 30 June 2012 $181 million

• Focus on growing EPS

• Total as at 30 June 2011

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Diggers & Dealers Mining Forum – August 2012

Proven performance – translating production into profit

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Gold Production +116% FY 08 to FY 12

Underlying Profit Per Ounce[[1] ]

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346
1H
only
211
63
1
-186
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339
258
239
231
157
-186
FY 08 FY 09 FY 10 FY 11 FY 12FY 12 FY 08
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FY 09 FY 10 FY 11 1H1H FY 12FY 12

koz

A$M

Financial years to 30 June

Financial years to 30 June

[1] Non-IFRS measure, calculation in Appendix

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Diggers & Dealers Mining Forum – August 2012

FY 12 consolidated guidance achieved for production and costs

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FY 12 Production to Guidance

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185
175 190
Gwalia
57
King of the Hills 55 60
97
Marvel Loch 90 100
339
Consolidated 320 350
-20 -10 0 +10 +20
Guidance Mid Points and Ranges
koz
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Diggers & Dealers Mining Forum – August 2012

Positive cash generation

Cash Flow From Operations Per Share

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$0.36
$0.29
$0.26
1H only
$0.11
FY 09 FY 10 FY 11 1H FY 121H
FY 12
A$
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Shares adjusted for 6:1 consolidation Nov 2010

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Cash & Debt

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185
79
12
4
Debt Debt
Jun 2011 Jun 2012
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A$M
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Diggers & Dealers Mining Forum – August 2012

Gwalia Mine, Leonora

- high quality, long life, rich gold deposit

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• Ore Reserves of 6.9 Mt at

• 8.9 g/t Au containing 2.0 Moz of gold[ [1]]

• Mineral Resources extended

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

• Indicative 8+ year mine life based on Ore Reserves

• FY13 forecast production 175,000 to 190,000 ounces

• FY 12 drilling program successfully identified extension to mineralisation to the south and north

[1] As at 30 June 2011.

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Diggers & Dealers Mining Forum – August 2012

Increasing exploration activity– targeting new discoveries to leverage value

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• Drilling for new discoveries

• Over 5,000 km[2] of prospective land

• Anticipated annual spend $20-25M p.a.

Exploration

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22
20
Total Total
12
10
Drilling Drilling
FY 11 FY 12 F
A$M
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Diggers & Dealers Mining Forum – August 2012

Strength across the value chain

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Exploration

• 515,000 oz increase in Gwalia Mineral Resources in FY11 • Initial Mineral Resource estimate in FY12 for Frasers, Southern Cross, of 2.1 Mt @ 5.2 g/t Au containing 355,000 oz

Reserves

• 8 years Ore Reserves at Gwalia

• (6.9 Mt @ 8.9 g/t Au containing 2.0 Moz Au)[ [1]]

Development

• Gwalia deep underground mine expertise

• King of the Hills commenced production on schedule in FY11

Production

• Focus on production for earnings growth

• • FY12 Q2, Q3 and Q4 production volume records

• Profitability NPAT and Underlying NPAT[[2]] improved each year since FY09

• Cash flow $181M net cash at 30 June 2012, up $114M in FY12

[1] At 30 June 2011 [2] Non-IFRS measure, calculation in Appendix

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Diggers & Dealers Mining Forum – August 2012

Proposal to combine with Allied Gold

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• Consistent with strategy of last 3 years to grow long term EPS

• Acquisition of two gold producing, 8+ year operations:

• Gold Ridge, Solomon Islands

• Simberi, Papua New Guinea

• Significant near mine and regional exploration along Pacific Rim

• Immediately NAV accretive and EPS accretive after first year of combination for St Barbara shareholders

• Complementary businesses, extensive organic growth opportunities

• Consideration: 0.8 SBM shares plus A$1.025 cash per ALD share

• Cash consideration to be funded by cash on hand + A$120M 4 yr term loan facility from NAB and Barclays (unhedged)

• Key dates: 14 August Allied Gold shareholder vote 30 August effective date (subject to shareholder vote and court approval)

effective date (subject to shareholder vote and court approval)

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Diggers & Dealers Mining Forum – August 2012

Why Allied Gold?

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• Allied Gold consistently rated as one of the best value targets in the region for relatively long term, profitable gold operations.

• Highly geologically attractive yet under explored region.

• Offer based on detailed due diligence, including rebuilding our own mineral resources models and two detailed site visits.

• Have a very good understanding of assets and what is required to improve performance.

• Based on detailed assessment through due diligence, pathways identified to improve reliability and increase efficiency.

• We believe Allied Gold cash operating costs will reduce to at least the stated guidance level of the rate of US$850 /oz.

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Diggers & Dealers Mining Forum – August 2012

Combined Group - Proven Producing Assets Supplemented by Development and Exploration Opportunities

• Leonora Simberi

• • Gwalia underground mine Simberi • Simberi open pit mine • King of the Hills underground • Simberi processing plant (2.0Mtpa) mine • FY13F production: 70 – 80koz[1]

• • Gwalia processing plant • 2.0Moz Ore Reserves[3] (1.2Mtpa) • Near mine targets for exploration

• • FY13F production: 230 – 250koz[1 ] Gold Ridge • Sulphide potential • 2.5Moz Ore Reserves[2 ] Gold Ridge

• Southern Cross • Gold Ridge open pit mine

• • Marvel Loch underground mine • Gold Ridge processing plant • Marvel Loch processing plant • (2.5Mtpa) FY13F production: 95 – 105koz[1 ] (2.2Mtpa)

• • FY13F production: 20 – 25koz[1] • 1.1Moz Ore Reserves[3 ] • 0.2Moz Ore Reserves[2] East Lachlan • Near mine targets for exploration Leonora

• Southern Cross Tabar-Tatau

• East Lachlan

• •• Prospective exploration area Targeted for copper-gold St Barbara •• Exploration potential Multiple drilling targets on both Allied Gold Tabar and Tatau islands

• porphyry mineralisation

Combined group to generate approximately 435,000[1] ounces of gold in FY13F

Note: Please refer to previous investor presentations disclosed by St Barbara and Allied Gold, and the rule 2.7 announcement dated 29 June 2012, for additional information on individual assets.

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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. 2. As at 30 June 2011. 3. As at 31 December 2011.

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Enhanced Diversification

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Reserves by Asset [1 ]
St Barbara Combined Group Allied Gold
(2.8 Moz) (5.9 Moz) (3.2 Moz)
12% 19%
8% 33%
36%
8%
64%
72%
34%
6%
4%
4%
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 2011 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 13
in the rule 2.7 announcement dated 29 June 2012. King of the Hills Simberi Gold Ridge
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Project Pipeline Spanning Exploration to Gold Production

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St Barbara’s established, producing and cash flow generative assets at Gwalia, King of the Hills and Southern Cross complement Allied Gold’s expansion and exploration projects at Simberi, Gold Ridge and Tabar-Tatau Project Pipeline Production Profile[1 ]

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Gold production (koz)
SULLIVAN’S YILGARN SIMBERI NEAR GOLD RIDGE
600
CREEK TARGETS MINE NEAR MINE
EXPLORATION
SOUTHERN
GWALIA REGION EAST LACHLAN TABAR - TATAU
CROSS 500
400
SCOPING/
TOWER HILL
CONCEPT
300
SIMBERI
FEASIBILITY SULPHIDES
200
SIMBERI OXIDE
CONSTRUCTION EXPANSION 100
(3.5Mt)
0
KING OF THE
GWALIA SOUTHERN CROSS
PRODUCING HILLS 2011A 2012F 2013F
Gwalia King of the Hills Simberi
GOLD RIDGE SIMBERI OXIDES
Gold Ridge Southern Cross
St Barbara Allied Gold [[1. Based on internal life of mine plans assuming no change in production as a result of the transaction. ]] 14
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Allied Gold[[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.

14

Appendices

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Diggers & Dealers Mining Forum – August 2012

FY13 guidance

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King of Marvel Gwalia Total the Hills Loch Leonora Leonora S’thn Cross

Gold koz 175-190 55-60 20-25 250-275 production

FY13 guidance, including cash operating cost and capex ranges, is anticipated to be released by 31 August 2012.

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Diggers & Dealers Mining Forum – August 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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Diggers & Dealers Mining Forum – August 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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Diggers & Dealers Mining Forum – August 2012

Leonora regional strategies to leverage value from existing infrastructure

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• King of the Hills successfully developed

• Near mine and regional exploration for more options

• Focus on Greater Gwalia Area

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Diggers & Dealers Mining Forum – August 2012

Southern Cross Operations Strategic options being evaluated

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• Marvel Loch due to go on care and maintenance Dec 2012

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Diggers & Dealers Mining Forum – August 2012

Exploration at East Lachlan, NSW -targeting copper-gold porphyry deposits

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• Large and prospective land position

• Encouraging results from first

• drilling program, may indicate being proximal to a potential infusion-related copper-gold system

• Follow-up detailed gravity surveys of two areas and targeting completed

• Drilling on-going

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Diggers & Dealers Mining Forum – August 2012

Strong institutional share register, wide broker coverage

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Top 100 Shareholding Structure

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Private
5%
Unallocated /
not analysed
8%
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Institutions 87%

Analysis and geographic spread of Top 100 Shareholders as at 17 July 2012

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Australia, 32%
USA, 26%
UK, 27%
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Europe, 4% Asia, 5% Other / not analysed, 6%

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Diggers & Dealers Mining Forum – August 2012

Strong institutional share register, wide broker coverage

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Significant Shareholders[[1] ]

M&G Investment Mgt 18% Van Eck Associates 6% Franklin Resources 6%

Institutional Shareholders[[2]] 87% Shares on issue[[3]] 325M

Approved Depositary Receipts (ADR) are trading in USA

1. As at 31 July 2012 as advised by shareholders.

2. As at 17 July 2012.

3. As at 31 July 2012.

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

Diggers & Dealers Mining Forum – August 2012

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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Diggers & Dealers Mining Forum – August 2012

Mineral Resources Statement As at 30 June 2011*

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Region	Category	Measured	Measured	Measured	Indicated	Indicated	Indicated	Inferred	Inferred	Inferred	Total	Total	Total
	Project	Tonnes kt	Gold Grade Au g/t	Contained Gold koz	Tonnes kt	Gold Grade Au g/t	Contained Gold koz	Tonnes kt	Gold Grade Au g/t	Contained Gold koz	Tonnes kt	Gold Grade Au g/t	Contained Gold koz
Leonora	Gwalia Deeps	4,380	6.1	860	7,490	9.6	2,319	2,580	9.2	762	14,450	8.5	3,941
	Gwalia Int & West Lode	0	0	0	10	6.2	2	1,260	6.0	244	1,270	6.0	246
	King of The Hills	0	0	0	1,930	5.4	337	490	4.8	76	2,420	5.3	413
	Tower Hill	0	0	0	2,780	4.6	411	210	3.9	26	2,990	4.5	437
	Total Leonora Including other	5,370	5.2	893	14,490	6.7	3,138	7,170	6.0	1,383	27,030	6.2	5,414
Southern Cross	Marvel Loch	320	4.7	48	3,350	3.2	349	2,310	2.9	217	5,980	3.2	614
	Total Southern Cross Including other	1,610	1.5	80	9,300	3.7	1,115	8,910	3.6	1,028	19,820	3.5	2,223
Total All Regions		6,690	4.3	973	23,790	5.6	4,253	16,080	4.7	2,411	46,850	5.1	7,637

Notes

Identified Mineral Resources have been compiled under the direction of Mr Phillip Uttley who is a Fellow of The Australasian Institute of Mining and Metallurgy, a full time employee of St Barbara and qualifies as the Competent Person.

Mr Uttley has sufficient experience relevant to the style of mineralisation and type of deposits under consideration and to the activities which were undertaken to qualify as Competent Persons as defined in the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (the JORC Code). Mr Uttley has consented to the inclusion in the report of the matters based on their information in the form and context in which they appear. Mineral Resources updated during the financial year ended 30 June 2011 have been estimated using economic cut-off grades and mining optimisations based on an A$1,500 per ounce gold price.

Mineral Resources are reported inclusive of Ore Reserves

*See ASX Announcement dated 24 August 2011 at www.stbarbara.com.au for full details.

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Diggers & Dealers Mining Forum – August 2012

Ore Reserves Statement As at 30 June 2011*

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Region	Category	Proved	Proved	Proved	Probable	Probable	Probable	Total	Total	Total
	Project	Tonnes kt	Gold grade Aug/t	Gold koz	Tonnes kt	Gold grade Aug/t	Gold koz	Tonnes kt	Gold grade Aug/t	Gold koz
Leonora	Gwalia Deeps	2,015	7.1	460	4,902	9.6	1,512	6,917	8.9	1,973
	Tower Hill	0	0	0	2,699	3.8	329	2,699	3.8	329
	Kingof the Hills	0	0	0	1,610	4.3	221	1,610	4.3	221
	Total Leonora	2,015	7.1	460	9,211	7.0	2,063	11,226	7.0	2,523
Southern Cross	Marvel Loch	62	3.8	8	1,349	2.6	111	1,411	2.6	119
	Nevoria Underground	0	0	0	713	4.0	80	713	3.5	80
	Other	1,286	0.8	32	45	1.0	1	1,331	0.8	34
	Total Southern Cross	1,348	0.9	40	2,107	2.9	193	3,455	2.1	233
Total All Regions		3,363	4.6	500	11,317	6.2	2,256	14,681	5.8	2,756

Notes:

Reserves based on a gold price of A$1,250 per ounce for Gwalia, Tower Hill and Nevoria, A$1,150 for King of the Hills and $1,400 for Marvel Loch. Cut-off grade = 2.5g/t Au.

Data is rounded to thousands of tonnes and thousands of ounces. Differences in totals may occur due to rounding.

The Ore Reserves have been estimated and compiled under the direction of Mr Andrew Law. Mr Law is a Fellow of The Australasian Institute of Mining and Metallurgy and was a full time employee of St Barbara at 30 June 2011 and is a full time employee of Optiro at the date of this report. Mr Law has sufficient experience relevant to the style of mineralisation, type of deposit under considerations and for the activity being undertaken to qualify as a Competent Person as defined by the 2004 edition of the 'Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves' (JORC Code). Mr Law consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

*See ASX Announcement dated 24 August 2011 at www.stbarbara.com.au for full details.

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Diggers & Dealers Mining Forum – August 2012

Allied Gold: Solomon Islands Overview

Country Overview

Solomon Islands Map

• Located east of Papua New Guinea, consisting of nearly 1,000 separate islands

• Capital is Honiara on the island of Guadalcanal

• A former British Colony, remains a member of the Commonwealth

• Self-government achieved in 1976 and independence two years later

• Common law legal system and modern Mining Act 1990

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• Australian-led Regional Assistance Mission to the Solomon Islands ( RAMSI ) continuing to support and develop the Royal Solomon Islands Police Force

• Allied Gold currently has good relationships with local landowners, who are important stakeholders in mining activities in the region

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27

Allied Gold: Papua New Guinea Overview

Country Overview

Papua New Guinea Map

• Located in Oceania, occupying the eastern half of the island of New Guinea between the Coral Sea and South Pacific Ocean, east of Indonesia

• Capital is Port Moresby with a population of c. 300,000

• Commonwealth country which gained independence from Australia in 1975

• Democratic country since independence with a system of National and Provincial Government with constitutional provisions for the division of legislative powers between both

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• Common law legal system (in addition to the statute laws passed by the Parliament) and Mining Act 1992

• Allied Gold currently has good relationships with local landowners, who are important stakeholders in mining activities in the region

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Competent persons statement

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The information in this presentation that relates to Exploration Results and Mineral Resources is based on information compiled by Phillip Uttley who is a Fellow of the Australasian Institute of Mining and Metallurgy. Phillip Uttley is a full-time employee of St Barbara. Phillip Uttley 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). Phillip Uttley consents to the inclusion of the information contained in this presentation in the form and context in which it appears.

The information in this presentation that relates to Ore Reserves is based on information compiled by Andrew Law who is a Member of the Australasian Institute of Mining and Metallurgy. Andrew Law is a full-time employee of the consulting firm Optiro and was a full-time employee of St Barbara as of 30 June 2011. Andrew Law 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). Andrew Law consents to the inclusion of the information contained in this presentation in the form and context in which it appears.

The information in this presentation that relates to production forecasts for St Barbara is based on Ore Reserves.

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Diggers & Dealers Mining Forum – August 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 2011 Annual Report (pp24-25) available at www.stbarbara.com.au for details

Underlying net profit after tax

• Net profit after tax excluding identified significant items

• Refer 2011 Annual Report (pp24-25) 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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Diggers & Dealers Mining Forum – August 2012

Non-IFRS Measures

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Non-IFRS Measures
Underlying Profit Per Ounce		1H FY 12	FY 11	FY 10	FY 09	FY 08
Underlying net profit after tax	A$000	53,347	54,431	14,547	209	(29,291)
Gold production	oz	154,223	258,474	231,018	238,900	157,477
Underlying Profit Per Ounce	A$/oz	346	211	63	1	-186
Source: FY 08 to FY 11 Annual Reports and FY 12 Half Year Financial Report, available at www.stbarbara.com.au

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Diggers & Dealers Mining Forum – August 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

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Diggers & Dealers Mining Forum – August 2012