VAULT MINERALS LIMITED — AGM Information 2021

Nov 23, 2021

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AGM presentation Mark Williams 24 November 2021

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Competent Person’s Statement and Disclaimer

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Competent Person Statements for JORC 2012 Mineral Resource and Ore Reserves

• The information in this presentation that relates to the Mineral Resources for the King of the Hills deposit is extracted from the ASX announcement titled “Increased Underground Resource at King of the Hills” released on 22 July 2021. The information in this presentation relating to the King of the Hills regional deposits is extracted from the ASX announcement titled “Maiden JORC open pit Resources defined for near mine regional deposits at King of the Hills” dated 1 May 2019, and Information in this presentation relating to KOTH satellite deposits is extracted from the ASX announcement titled “Additional Resources defined for satellite open pit deposits at King of the Hills” dated 6 May 2020. The information in this presentation relating to the King of the Hills Ore Reserve is extracted from the ASX announcement titled “KOTH Final Feasibility Study delivers 2.4Moz Ore Reserve - confirms at least a 16-year Life of Mine and a clear pathway to production in 2022” dated 15 September 2020.

• Red 5 confirms that all the material assumptions underpinning the Final Feasibility Study production targets on the King of the Hills project (see ASX release 15 September 2020), or the forecast financial information derived from a production target, in the initial public reports continue to apply and have not materially changed.

• The information in this presentation that relates to the Mineral Resources and Ore Reserves for the Darlot Underground deposit relates to the ASX announcement titled “Red 5 2020 Annual Report” dated 14 October 2020, which are available on the ASX web-site. Information in this presentation relating to Great Western is extracted from the ASX announcement titled “Resource Update and maiden Reserve for Great Western deposit“, dated 15 October 2020. Information in this presentation relating to Cables and Mission are from ASX announcements: “Option Agreement signed to purchase Cables and Mission gold deposits”, dated 2 December 2019, and “Red 5 exercises option to complete acquisition of the Cables and Mission gold deposits”, dated 22 May 2020. Information in this presentation relating to Ockerburry Hill is extracted from the ASX announcement titled “Eastern Goldfields Regional Exploration Update” dated 16 April 2018. All announcements are available on the ASX web-site.

• Red 5 confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements, and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons findings are presented have not been materially modified from the original market announcements.

Forward-Looking Statements

• Certain statements made during or in connection with this Investor Presentation contain or comprise certain forward-looking statements regarding RED’s Mineral Resources and Reserves, exploration activities, project development operations, production rates, life of mine, projected cash flow, capital expenditure, operating costs and other economic performance and financial condition as well as general market outlook. Although RED believes that the expectations reflected in such forward-looking statements are reasonable, such expectations are only predictions and are subject to inherent risks and uncertainties which could cause actual values, results, performance or achievements to differ materially from those expressed, implied or projected in any forward looking statements and no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, delays or changes in project development, success of business and operating initiatives, changes in the regulatory environment and other government actions, fluctuations in metals prices and exchange rates and business and operational risk management. Except for statutory liability which cannot be excluded, each of RED, its officers, employees and advisors expressly disclaim any responsibility for the accuracy or completeness of the material contained in this Investor Presentation and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission. RED undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events other than required by the Corporations Act and ASX Listing Rules. Accordingly, you should not place undue reliance on any forward looking statement.

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Red 5 – A standout growth opportunity

• ✓ Red 5 has two gold mines in one of the world’s safest and most prospective gold districts

• ✓ King of the Hills (KOTH) is a major Australian gold deposit – Top 10-largest Ore Reserves in Australia[1]

• Mineral Resource of 4.12Moz[2] and Ore Reserve of 2.4Moz[2]

• ✓ Sale complete for Siana Gold Project in Philippines[4]

• US$19M cash received and ~US$36M NSR royalty

• ✓ Experienced management team with strong project development skill-set

• Refer to Slide 32 for sources

• Red 5 ASX Release: 22 July 2021

• Red 5 ASX Release: 15 September 2020

• Red 5 ASX Release: 21 September 2021

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King of the Hills – Australia’s next major gold mine

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Installation of process plant is nearing completion

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All key long lead items delivered

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KOTH village fully operational

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KOTH – construction is on schedule and within budget

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	A$M1
Processing and infrastructure	188
Owners costs	12
Sub-total	200
Contingency	19
Sub-total	219
Mining pre-strip	7
Total (Real) capital cost	226

• The majority of remaining project expenditure is through fixed-price contracts

• $175M of contracts committed to date

• Project forecast remains within budget

• $118.2M spent at end of Sept 2021[2]

• Construction and mine permits in place

• Red 5 ASX Release: 15 September 2020 2. Red 5 ASX Release: 19 October 2021

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KOTH – first gold on-track for June 2022 quarter

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	2021	2021	2021	2021	2022	2022	2022	2022
	MQ	JQ	SQ	DQ	MQ	JQ	SQ	DQ
Debt financing
Construction and mine permits
Bulk earthworks and Village
Mill and Crusher delivery to site
EPC full mobilisation
Site construction and installation
Commissioning
Mine Contractor mobilisation
Production ramp-up (3 months)
Full production

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KOTH - strategic, low-cost mill in Eastern Goldfields

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• High level of confidence in metallurgy:

• Historical processing data (1989-2004)

• Metallurgical testwork (historical and FFS)

• Previous processing of KOTH ore at Darlot

• Low $11.83/t LOM processing cost[1 ] due to:

• Economies of scale: Mintrex Study has confirmed capacity to process 4.7Mtpa as constructed[2]

• Favourable metallurgical properties

• Site will be powered by a 30MW Hybrid GasSolar power station

  • Connected to Goldfields Gas Pipeline

• Red 5 ASX Release: 15 September 2020

• Red 5 ASX Release: 2 August 2021

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Darlot’s future to be a satellite ore source to KOTH

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● Darlot Mine Plan[1]

• Redpath mobilized for initial 12-month mine development program

• Establish new mine areas and reduce reliance on remnant mining

• Darlot ore to be processed at KOTH from JunQtr 2022

• Production FY22 Darlot guidance[1]

• 62,000oz – 72,000oz

• AISC of $2,300/oz - $2,400/oz (inclusive of $220/oz mine development)

• Sept-Qtr Production/Costs in line with budget[2]

• KOTH Process Plant allows for a stepchange in Darlot’s cost base[1]

• For future Darlot ore processing at KOTH, Darlot targeting FY23 AISC of $1,700/oz - $1,900/oz[1]

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Darlot’s two-year mine inventory with new mining areas to be established in FY22

1. Red 5 ASX Release: 2 August 2021 2. Red 5 ASX Release: 19 September 2021

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Red 5 Limited – Corporate Profile

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Share price at 19 November 2021	$0.285
Shares issued	2,356.4M
Market capitalisation at 19 November 2021	$671.6M
Cash & bullion at 30 September 20211	$67.5M
Debt at 30 September 20211	$37.7M
Enterprise value at 19 November 2021	$641.8M

Our Company Vision

“To be a successful multi-operational exploration and mining company, providing benefits to all stakeholders, through the consistent application of technical excellence, and responsible and sustainable industry practices.”

Shareholders

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Victor Smorgon,
15.1%
Franklin
Templeton, 9.9%
Other,
63.40%
Ruffer, 6.9%
Electrum, 4.7%
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1. Red 5 ASX Release: 19 October 2021

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ESG – Red 5 is built on a strong safety culture

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Our CORRE Values

We take initiative with integrity and have the strength to speak to our convictions

Courage

Ownership

We are committed to our Vision and accountable for our individual/team safety and performance

We trust and empower each other, and show respect to country and our stakeholders We do what we say

Respect

Reliability

We are agile and efficient and work relentlessly to achieve our Mission

Excellence

1. Total Recordable Injury Frequency Rate (12 month ave.), total recordable injuries per million hours worked. 2. LTIFR = Lost Time Injury Frequency Rate (12 month ave.), the number of lost time injuries per million hours worked.

3. Most recent statistics from http://www.dmp.wa.gov.au/Safety/Safety-statistics-16198.aspx

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A standout value opportunity in the Australian gold sector

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• Red 5 EV/Reserve relative to its peers

• Valuation of WA based-gold companies[1]

• Bubble Size = Enterprise Value

• The planned development of KOTH is expected to position RED as a mid-tier Australian gold producer

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1,200
Ramelius
Silver Lake
900
Capricorn
Bellevue
Gold Road
600
Dacian
Westgold
Regis
Calidus
300
Red 5
St Barbara
Wiluna
0
0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5
Reserves (Moz)
EV / Reserve (A$/oz)
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Sources:

1. S&P Capital IQ ; Goldnerds.com.au as at 21 Oct 2021

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KOTH is a unique project

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Transformation of Red 5

2017 Red 5 purchased Darlot and KOTH in WA

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2022 Ready to emerge as Australia’s next mid-tier gold producer

KOTH benefits to Western Australian economy

• Construction cost of $226 million

• 450 construction jobs

• 600 steady-state workforce

• Estimated over $600m of taxes and royalties

Growth of the Australian gold industry

• Top 10 Australian gold mine by Ore Reserve

• 16-year LOM, average 176kozpa in Years 1-6

• Flexibility to expand Mill throughput, extend underground mine life beyond 5 years

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THANK YOU

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Level 2, 35 Ventnor Avenue, West Perth, Western Australia 6005 Australia

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(61-8) 9322 4455 (61-8) 9481 5950

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Appendix

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KOTH - geology is well understood, open in all directions

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Jun-21 Mineral Resource[1] 91Mt @ 1.4 g/t for 4.12Moz Au

Aug-20 Ore Reserve[2] 64.6Mt @ 1.2 g/t for 2.4Moz Au

• Ore body in the contact zone of a substantial Granodiorite intrusion

  • 4km long x 2km wide

• Historical understanding from previous OP and UG mining

• Resource subject to 3rdparty audit by Carras Mining and CSA Global

• Ore body remains open at depth and along strike

• Red 5 ASX Release: 22 July 2021 2. Red 5 ASX Release: 15 September 2020

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US$55 million divestment of Siana Gold Project

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• The Siana Gold Project, owned by Philippineaffiliated company Greenstone Resources, suspended mine operations in April 2017

• Red 5 announced the completed sale of Siana on 21 September 2021

• US$19M cash received

• 3.25% NSR royalty up to 619koz (value of US$36M at a US$1,800/oz gold price)

• Buyer is TVI Resource Development (Phils) Inc. (TVIRD)

• TVIRD is an experienced miner with two existing operations in Philippines

• TVIRD is finalising its funding required to restart the Siana mine. TVIRD expect to restart production in the first half of 2023

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1. Red 5 ASX Release: 21 September 2021

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KOTH – long mine life generating substantial cash flow[1]

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Pre-tax	Unit	$2,000/oz	$2,250/oz	$2,500/oz	$2,750/oz	$3,000/oz
Project cashflow	$M	1,147	1,710	2,273	2,837	3,400
NPV8%	$M	512	806	1,101	1,395	1,689
IRR	%	38.0%	51.6%	64.3%	76.4%	88.0%
Post-tax	Unit	$2,000/oz	$2,250/oz	$2,500/oz	$2,750/oz	$3,000/oz
Project cashflow	$M	755	1,150	1,544	1,938	2,333
NPV8%	$M	314	520	726	932	1,138
IRR	%	28.7%	39.74%	49.82%	59.32%	68.40%
Payback period	Mth	39	29	25	22	20

At a gold price of A$2,500/oz:

• Free cashflow (after tax) of:

• LOM total $1,544M

• Years 1-6 average is A$144M p.a.

• Pre tax IRR of 64%

• Payback of 25 months

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1. Red 5 ASX Release: 15 September 2020

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KOTH now fully financed through to operations

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Facility Amount and Syndicate Banks

Loan Term

Interest Rate

• Amortisation / Repayments

Guarantee and Security

Mandatory Hed in g g

• Conditions Precedent

Other Details

• A$175M Syndicated Facility Agreement comprising:

• ● A$160M Senior Secured Project Loan Facility; and

• A$15M Cost Overrun and Working Capital Facility.

• Syndicate Banks – Macquarie (50%), BNP Paribas (25%) and HSBC (25%).

• Senior Secured Project Loan Facility term of 5.75-years, maturing on 30 September 2026.

• Cost Overrun and Working Capital Facility term of 18 months after project completion.

• Loan interest rate of BBSY-bid plus a margin below 4.00% p.a.

• Senior Secured Project Loan Facility and Cost Overrun and Working Capital Facility will be repaid by means of typical repayment obligations.

• ● Guaranteed and secured on a first-ranking basis over all Australian assets of Red 5 Limited, Greenstone Resources (WA) Pty Ltd, Opus Resources Pty Ltd and Darlot Mining Company Pty Ltd.

• ● Mandatory hedging comprising 189,651 gold ounces[1] (25% of production during loan period, 8% of ore reserves) at an average price of A$2,154/oz.

• Finance documents have been executed and financial close completed on 30 June 2021.

• ● First debt draw-down in July 2021.

• Reserve accounts include $13M for Tailings Storage CAPEX to be incurred in FY23.

• ● Senior Secured Project Loan Facility ring-fenced to KOTH and separate from Darlot corporate activities.

• Red 5 ASX Release: 23 March 2021

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Leadership team with strong development expertise

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Red 5 has a strong and capable team, with many years of mining and development experience both at Red 5 and previously at multibillion international development projects – the Company is well placed to deliver the KOTH development

Board

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Management team

Kevin Dundo Corporate lawyer specialising in commercial and corporate law with expertise in mining and financial Non-executive Chairman services industries. Chairman since 2013.

Jason Greive Chief Operating Officer

Metallurgist with prior experience at Evolution, Barrick and Rio Tinto. Responsible for the Darlot and KOTH mining operations.

Mark Williams Mining Engineer with prior experience at Orica and Xstrata, including General Manager of US$6bn Managing Director Tampakan Copper Gold Project. MD since 2014.

Warren King Engineer with prior experience constructing gold projects in Australia, Indonesia and Africa. KOTH Project Manager Responsible for construction of KOTH Project.

Andrea Sutton Chemical Engineer with >25 years experience at Rio Tinto, including Chief Executive and MD at ERA. Non-executive Director Director since Nov-2020.

Ian Macpherson Chartered Accountant with >30 yrs in the professional services industry. Specialist in capital structuring, Non-executive Director equity and debt raising. Director since 2014. Colin Loosemore Geologist with >40 yrs international experience. Experienced MD for several mining companies. Director Non-executive Director since 2014.

Steven Tombs Mining Engineer with >40 yrs international experience Non-executive Director with major mining companies. Director since 2018.

Patrick Duffy Chartered Accountant with prior experience at Glencore and Xstrata, including Director Strategy & Chief Corporate Performance of US$7bn Koniambo Project and CFO of Development Officer US$6bn Tampakan Project. Chartered Accountant with prior experience at BHP John Tasovac and Xstrata, including CFO of US$5bn Las Bambas Chief Financial Officer Project and Xstrata Copper South America Projects Division.

Byron Dumpleton Geologist with 30+ years of international experience. Prior experience at KCGM, WMC and Straits Chief Geologist Resources. Frank Campagna CPA with over 25 years experience as Company Secretary, Chief Financial Officer and Commercial Company Secretary Manager for listed companies.

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KOTH – 4.1Moz Mineral Resource[1]

Total Open Pit & Underground KOTH Resource as at Jun 2021

Classification	Cut-off (g/t)	Mining Method	Tonnes (000t)	Gold (g/t)	Contained Gold (000oz)
Indicated	0.4-1.0	OP+UG	69,600	1.4	3,030
Inferred	0.4-1.0	OP+UG	21,100	1.6	1,090
Total	0.4-1.0	OP+UG	90,700	1.4	4,120
	KOTH JORC 2012 All material within A$2,100			Pit Shell
Indicated	0.4	OP	65,000	1.3	2,690
Inferred	0.4	OP	13,700	1.4	600
Total	0.4	OP	78,700	1.3	3,290
	KOTH JORC 2012 All material outside A$2,100			Pit Shell
Indicated	1.0	UG	4,600	2.3	340
Inferred	1.0	UG	7,500	2.0	490
Total	1.0	UG	12,100	2.1	830

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1. Red 5 ASX Release: 22 July 2021.

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KOTH – 2.4Moz Ore Reserve[1]

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Total KOTH Ore Reserves as at September 2020

Deposit	Mining Method	Cut-off (g/t)	JORC 2012 Classification	Tonnes (Mt)	Gold (g/t)	Contained Gold (Moz)
KOTH	Open pit	0.39	Probable	58.5	1.1	2.1
KOTH	Underground	1.60	Probable	2.4	2.3	0.2
Rainbow	Open pit	0.30	Probable	1.9	0.9	0.1
Centauri	Open pit	0.31	Probable	0.3	1.3	0.01
Cerebus & Eclipse	Open pit	0.32	Probable	1.5	1.0	0.05
	Total			64.6	1.2	2.4

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1. Red 5 ASX Release: 15 September 2020.

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KOTH – mineralisation open in all directions

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Proof of concept drilling confirmed gold mineralisation 500m down plunge from current UG designs[1] Mineralised stockwork penetrates at least 70m into the granodiorite from the granodiorite-ultramafic contact

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1. Red 5 ASX Release: 18 Dec 2019

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KOTH – Satellite Deposits[1 ] – Mineral Resource of 308koz

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1. Red 5 ASX Release: 6 May 2020 2. Red 5 ASX Release: 1 May 2019

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KOTH – scope to increase production and extend LOM

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• Mintrex have confirmed SAG Mill will produce >4.7Mtpa as built

• Red 5 believes the mill has potential to process much

• more

  • 6Mtpa crushing circuit installed

  • Oversized SAG Mill being installed

  • Design allowance for upgrade of the grinding, leaching, and elution components

  • Minimal interruption to future production

• Granodiorite/ultramafic contact zone extends almost 12km around the granodiorite, with the potential to host hold mineralisation outside of the existing mine area

• Extending underground mining beyond FY27 as underground development provides access to new exploration areas

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KOTH exploration – numerous targets

• Integrated datasets have identified priority targets along the Tarmoola and Ursus Fault corridors

• Tarmoola Fault Corridor

• Poorly tested outside of the mine area

• Bulk of historical AC/RAB drilling ineffective (failed to reach top of fresh rock)

• 10 high-priority targets defined by discrete gravity lows

• Ursus Fault Corridor

• 12 high-priority targets, all targeting discrete gravity lows or edges of the Raeside Batholith

• Highest-priority targets where the Ursus structure splays and bends

Over the next two decades,

Red 5 will seek to add additional complimentary

satellite pits to feed KOTH’s +4Mtpa plant

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KOTH - 15MW SAG mill supports higher throughput

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				●Conventional 4Mtpa CIL
Hardest Ore	Design	Mid	High	plant
Power Draw (kW)	9,272	10,859	12,445	●Acquired 15MW, dual
				synchronous motor semi-
Grind Size (P80)	150	150	150	autonomous grind (SAG) mill
				with VVVF drive
Tonnes Per Hour (tph)	500	586	671
				●Delivery to site is expected in
Tonnes Per Annum (Mtpa)	4.0	4.7	5.4	the June Quarter 2021
Average Ore	Design	Mid	High	●Based on average KOTH ore,
Power Draw (kW)	6,446	9,671	12,445	SAG mill is capable of operating well above 4Mtpa
Grind Size (P80)	150	150	150	●SAG mill forecast throughput
Tonnes Per Hour (tph)	500	750	965	modelling performed by Orway Consultants, based on
Tonnes Per Annum (Mtpa)	4.0	6.0	7.8	ore hardness and power
				variables

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Darlot exploration & future ore sources

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Darlot Gold Mine[1]

• Resource 13.1Mt @ 3.4g/t Au for 1.4Moz

• Reserve 2.5Mt @ 2.6g/t Au for 203koz

• 71,000m UG and surface drill program

Ockerburry Hill (Dingo Ridge)[2]

• 4km-long, 500m wide mineralised zone proximal to the Ockerburry fault corridor

• Mineralisation untested below 150m

• Historical drill results include[2] :

• 5m @ 8.1g/t Au (ADAC0194)

• 4m @ 9.7g/t Au (MVAC1203)

Great Western[3]

• -

• Resource of 810kt @ 2.4g/t Au for 66koz[3 ] ~55km south of Darlot mill

• Drilling defined strike length of 450m, depth of 200m, mineralisation open at depth

  1. Red 5 ASX Release: 22 May 2020 5. Red 5 ASX Release: 13 December 2019 6. Red 5 ASX Release: 24 June 2020

• Red 5 ASX Release: 12 October 2021 2. Red 5 ASX Release: 16 April 2018 3. Red 5 ASX Release: 12 October 2021

• Part of FY22 Darlot Mine Plan

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Cables & Mission[4]

• Combined JORC 2004 Resource of 1.5Mt @ 3.1g/t Au for 185koz[2]

• Historical drilling suggests both deposits remain open along strike and down-dip

• Open in all directions - in-fill drill program planned for FY21

Gipps Hill and Janine[5]

• Mineralised shear-hosted quartz lode (up to 5m wide) intercepted in historical RC drilling with grades up to 12.1g/t Au[3]

• Surface sampling results of up to 13.7g/t Au from historical mullock dumps and 21.9g/t Au at Janine

• Gipps Hill open in all directions and untested at depth

Emperor and King of the West[6]

• Highly prospective strategic tenement package acquired from Kingwest in April 2020

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Top 20 Gold Deposits in Australia

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	Resources					Reserves
		Mt	g/t	Moz			Mt	g/t	Moz
Cadia		3184.0	0.4	36.1	Cadia		1400.0	0.4	20.0
Boddington		836.2	0.6	16.2	Boddington		566.3	0.7	11.9
Golden Mile (100%)		272.6	1.4	12.0	Golden Mile - KCGM		178.2	1.1	6.3
Tanami		76.9	4.1	10.1	Tanami		36.2	5.0	5.9
Lake Cowal		290.2	1.0	9.7	Lake Cowal		137.9	1.0	4.6
Granny Smith		49.4	5.2	8.3	Gruyere 100%		110.4	1.3	4.5
Tropicana		145.1	1.6	7.6	Tropicana		49.1	1.7	2.7
Gruyere 100%		155.8	1.3	6.7	St Ives		25.5	3.3	2.7
Wiluna		100.5	2.0	6.3	King of the Hills2		64.6	1.2	2.4
Telfer		180.8	1.0	5.9	Granny Smith		12.6	5.3	2.2
Jundee		55.2	0.3	5.3	Jundee		16.9	3.7	2.0
Duketon Region		178.0	0.9	5.4	Duketon Region		69.0	0.9	2.0
St Ives		41.7	3.7	5.0	McPhilamys		61.0	1.0	2.0
Carouse Dam Region		72.0	2.0	4.6	Gwalia		9.4	6.3	1.9
Sunrise Dam		72.4	1.8	4.1	Fosterville		3.6	15.4	1.8
King of the Hills1		90.7	1.4	4.1	Thunderbox Region		33.0	1.9	1.7
Thunderbox Region		57.0	1.7	3.2	Wiluna		24.7	1.7	1.4
Agnew/EMU		18.6	5.3	3.2	Big Bell		13.7	2.8	1.2
Fosterville		13.1	6.0	2.5	Sunrise Dam		19.7	1.8	1.2

1. Red 5 ASX Release: 22 July 2021

2. Red 5’s KOTH Project compared with Ore Reserves for the top 10 operating mines in Australia. Red 5 ASX Release: 15 September 2020

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Australian Top 20 Gold Deposits[1]

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Resources Reserves Resources Reserves Resources Reserves
Mt g/t Moz Mt g/t Moz Mt g/t Moz Mt g/t Moz Mt g/t Moz Mt g/t Moz
Cadia Newcrest St Ives Goldfields Sunrise Dam AngloGold
Measured 32.0 0.30 0.3 Proven Measured 5.1 2.49 0.4 Proven 4.7 2.15 0.3 Measured 27.3 1.62 1.4 Proven 11.1 1.52 0.5
Indicated 3100.0 0.36 35.0 Probable 1400.0 0.44 20.0 Indicated 26.5 4.13 3.5 Probable 20.7 3.51 2.3 Indicated 28.4 1.78 1.6 Probable 8.7 2.15 0.6
Inferred 52.0 0.45 0.8 Inferred 10.1 3.58 1.1 Inferred 16.7 2.04 1.1
Total 3184.0 0.35 36.1 Total 1400.0 0.44 20.0 Total 41.7 3.70 5.0 Total 25.5 3.25 2.7 Total 72.4 1.77 4.1 Total 19.7 1.81 1.2
Telfer Newcrest Source: Goldfields 2020 Resource & Reserve Supplement - Data as at 31 Dec 2020 Source: Anglogold Resource & Reserve Supplement 2020 - Data as at 31 Dec 2020
Measured 8.8 0.39 0.1 Proven 8.8 0.39 0.1 Gwalia St Barbara
Indicated 120.0 0.88 3.3 Probable 42.0 0.74 1.0 Agnew/EMU Goldfields Measured 4.0 6.40 0.8 Proven 1.6 8.00 0.4
Measured 0.2 3.52 0.0 Proven 0.1 2.24 0.0
Inferred 52.0 1.50 2.5 Indicated 17.4 6.00 3.4 Probable 7.8 5.90 1.5
Total 180.8 1.02 5.9 Total 50.8 0.68 1.1 Indicated 11.7 5.72 2.2 Probable 5.2 5.46 0.9 Inferred 1.2 5.50 0.2
Source: Newcrest Resource & Reserve release 11 Feb 2021 - Data as at 31 Dec 2020 Inferred 6.7 4.66 1.0 Total 22.6 6.00 4.4 Total 9.4 6.30 1.9
Boddington Newmont Total 18.6 5.31 3.2 Total 5.3 5.39 0.9 Source: St Barbara Reserve & Resource Statement 24 August 2020 -Data as at 30 June 2020
Measured 310.6 0.65 6.5 Proven 248.1 0.68 5.4 Source: Goldfields 2020 Resource & Reserve Supplement - Data as at 31 Dec 2020 Jundee
Indicated 521.7 0.58 9.7 Probable 372.4 0.60 7.2 Lake Cowal Evolution Measured 2.1 1.40 0.1 Proven 2.1 1.40 0.1
Inferred 3.9 0.45 0.1 Measured 20.6 0.46 0.3 Proven 20.6 0.46 0.3 Indicated 38.9 3.20 4.5 Probable 14.8 4.10 1.9
Total 836.2 0.60 16.2 Total 566.3 0.65 11.9 Indicated 232.0 1.02 7.6 Probable 117.3 1.14 4.3 Inferred 14.2 3.20 4.1
Source: Newmont Resource & Reserve Supplement 2019 - Data as at 31 Dec 2019 Inferred 37.7 1.46 1.8 Total 55.2 0.30 5.3 Total 16.9 3.70 2.0
Golden Mile (100%) Northern Star/Saracen Total 290.2 1.04 9.7 Total 137.9 1.04 4.6 Source: Northern Star Resource and Reserve Release 13 August 2020 - Data as at 30 June 2020
Measured 46.4 1.30 1.9 Proven 34.4 1.24 1.4 Mungari Evolution Kanowna
Indicated 200.6 1.26 8.1 Probable 143.8 1.08 4.9 Measured 0.3 5.09 0.1 Proven Measured 0.0 0.00 0.0 Proven 2.5 3.00 0.2
Indicated 12.3 2.90 1.1 Probable 5.8 2.60 0.5
Inferred 25.6 2.33 1.9 Indicated 39.3 1.29 1.6 Probable 10.0 1.35 0.5
Inferred 8.7 2.60 0.7
Total 272.6 1.37 12.0 Total 178.2 1.10 6.3 Inferred 9.4 1.66 0.5
Total 24.2 2.80 2.2 Total 8.2 2.70 0.7
Source: Newmont Resource & Reserve Supplement 2020 - Data as at 31 Dec 2020 Total 49.1 1.39 2.2 Total 10.0 1.41 0.5
Source: Northern Star Resource and Reserve Release 13 August 2020 - Data as at 30 June 2020
Tanami Newmont Source: Evolution Resource & Reserve release 17 February 2021 - Data as at 31 Dec 2020 Big Bell Westgold
Measured 18.5 4.25 2.5 Proven 14.6 4.89 2.3 Duketon Region Regis Measured 2.0 3.48 0.2 Proven 1.9 3.06 0.2
Indicated 38.8 3.87 4.8 Probable 21.6 5.15 3.6 Measured 20.0 0.80 0.5 Proven 12.0 0.80 0.3 Indicated 20.1 2.63 1.7 Probable 11.8 2.71 1.0
Inferred 19.6 4.29 2.7 Indicated 128.0 0.90 3.9 Probable 31.0 1.30 1.3 Inferred 5.4 2.43 0.4
Total 76.9 4.07 10.1 Total 36.2 5.04 5.9 Inferred 21.0 0.90 0.6 Total 27.6 2.65 2.4 Total 13.7 2.76 1.2
Source: Newmont Resource & Reserve Supplement 2020 - Data as at 31 Dec 2020 Total 169.0 0.80 5.0 Total 43.0 1.10 1.6 Source: Westgold Resource & Reserve Release 13 Aug 2020 - Data as at 30 Jun 2020
Tropicana AngloGold/Independence Group McPhilamys Regis Fosterville Kirkland Lake
Measured 42.3 0.91 1.2 Proven 21.9 1.12 0.8 Measured Proven Measured 0.8 5.10 0.1 Proven 1.1 24.40 0.8
Indicated 63.6 1.65 3.4 Probable 27.2 2.18 1.9 Indicated 69.0 1.03 2.3 Probable 61.0 1.03 2.0 Indicated 6.9 5.70 1.3 Probable 2.6 11.80 1.0
Inferred 39.1 2.41 3.0 Inferred 1.0 0.60 0.0 Inferred 6.1 6.50 1.3
Total 145.1 1.64 7.6 Total 49.1 1.71 2.7 Total 70.0 1.02 2.3 Total 61.0 1.03 2.0 Total 13.1 6.04 2.5 Total 3.6 15.40 1.8
Source Independence Group Resource and Reserve Statement 17 March 2021 - Data as at 31 Dec 202 Source: Regis Resource & Reserve Statement 24 August 2020 - Data as at 31 Mar 2020 Source: Kirkland Lake 2020 40F Report - Data as at 31 December 2020
GrannMeasuredy Smith Goldfields4.8 6.07 0.9 Proven 2.2 5.03 0.4 Carosue Dam Region Northern Star KinMeasuredg of the Hills Red 5 Proven
Measured 9.8 2.00 0.6 Proven 3.3 0.90 0.1
Indicated 28.8 5.92 5.5 Probable 10.4 5.41 1.8 Indicated 69.8 1.30 3.0 Probable 64.6 1.15 2.4
Indicated 44.0 2.00 2.8 Probable 29.0 2.00 1.9
Inferred 11.3 4.17 1.5 Inferred 20.9 1.60 1.1
Total 49.4 5.23 8.3 Total 12.6 5.34 2.2 Inferred 18.0 2.10 1.2 Total 90.7 1.40 4.07 Total 64.6 1.15 2.4
Source: Goldfields 2020 Resource & Reserve Supplement - Data as at 31 Dec 2020 Total 72.0 2.00 4.6 Total 33.0 1.90 2.0 Source: Red 5 Reserve Release 15 September 2020, Resource update 19 March 2020
Gruyere 100% Goldfields/Gold Road Thunderbox Region Northern Star Wiluna Wiluna Mining Corp
Measured 15.9 1.06 0.5 Proven 16.1 1.02 0.5 Measured 10.0 1.70 0.5 Proven 7.0 1.50 0.3 Measured 2.4 1.20 0.1 Proven 0.6 0.80 0.0
Indicated 124.7 1.35 5.4 Probable 70.7 1.27 2.9 Indicated 38.0 1.80 2.3 Probable 26.0 1.70 1.4 Indicated 58.3 1.60 3.0 Probable 24.1 1.80 1.4
Inferred 15.2 1.52 0.7 Inferred 6.9 1.90 0.4 Inferred 39.8 2.53 3.2
Total 155.8 1.34 6.7 Total 86.9 1.25 3.5 Total 57.0 1.70 3.2 Total 33.0 1.90 1.7 Total 100.5 1.96 6.3 Total 24.7 1.70 1.4
Source: Goldfields 2020 Resource & Reserve Supplement - Data as at 31 Dec 2020 Source: Saracen Resource and Reserve Release 4 August 2020 - Data as at 30 Jun 2020 Source: Wiluna Resource Release 30 September 2020
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1. Sources detailed in the table

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