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21 December 2017

Maiden 895koz JORC 2012 Resource and 131koz Ore Reserve for Darlot Gold Mine Sets Foundation for Gold Production Outlook for 2018

Increases Group Mineral Resources in the Eastern Goldfields of WA to 1.3Moz[1] including the King of the Hills Project where underground mining is set to commence early next year

Key Points

Maiden JORC 2012 Mineral Resource estimate completed for the 100%-owned Darlot Gold Mine:

Measured, Indicated and Inferred Mineral Resource of 6.0Mt @ 4.6 g/t Au for 895koz of contained gold

New Mineral Resource delivers a significant increase in contained gold ounces over the previously reported SAMREC estimates completed by previous owner, a subsidiary of Gold Fields Limited (1.2Mt @ 5.97g/t Au for 224,000oz[2] ).
JORC 2012 Resource includes a maiden Probable Ore Reserve of 1.0Mt @ 4.0 g/t Au for 131koz of contained gold, delivering additional mine life for the Darlot mining operations.
Exploration and grade control programs to commence at Darlot in early 2018 to further expand and de-risk the Resource and Reserve base, with numerous high-priority targets identified.

Operations, Development and Financial Update

Five gold shipments for 12,300oz achieved at Darlot since the completion of the acquisition on 2 October 2017 with gold production for the December 2017 Quarter expected to be at the upper end of guidance (1316koz).
The remnant mining program at Darlot is delivering positive results, with stopes in the first three extensions to existing mining areas (Metzke, Walters and Bradman) exceeding expectations in terms of mined tonnes and grade.
The Darlot mill is also performing well with opportunities identified to increase capacity. This work is ongoing.
The first stockpiled ore from King of the Hills (KOTH) has been successfully trucked and milled at Darlot.
The underground mining contract for the KOTH project has been awarded to experienced underground mining contractor, Pit N Portal Mining Services, who have commenced mobilisation to site. Following receipt of final mining permit approvals, mining is expected to commence in January 2018.

2018 Production Guidance and Outlook

Gold production[3] for calendar year 2018 is expected to be in the range of 85-95,000oz.

1 Combined New Mineral Resource (JORC 2012) at Darlot (see below) and Saracen Resource and Reserve Statement 2 August 2017 for KOTH as at 30 June 2017

2 Gold Fields Resource and Reserve Supplement 2016 p.69 and p.71 as previously reported by Red 5 on 3 August 2017

3 Guidance is subject to market and operating conditions and no unforeseen circumstances occurring. Potential production and throughput rates are subject to a range of contingencies which may affect performance.

Red 5 Limited

ABN 73 068 647 610 ASX: RED Shares on Issue: 1,241M Level 2, 35 Ventnor Avenue West Perth 6005 Western Australia Tel: (+61) 8 9322 4455 Fax: (+61) 8 9481 5950 Web: www.red5limited.com Investor enquiries: [email protected] 1

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Red 5 Limited (“Red 5” or “the Company”) (ASX: RED) is pleased to advise that its Eastern Goldfields consolidation strategy is delivering results on several fronts, with the completion of a maiden 895,000 ounce JORC 2012 Mineral Resource and maiden 131,000 ounce Ore Reserve for the 100%-owned Darlot Gold Mine in Western Australia (Figure 1) providing the foundation for the Group’s first production guidance outlook for its Australian operations for calendar year 2018.

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Figure 1: Location of Darlot Gold Mine, Western Australia showing historical production from key gold deposits in the region

Mineral Resources for the Darlot Gold Mine are now reported for the first time under the JORC Code since the 1990s, with Mineral Resources now reported in accordance with the JORC 2012 Code, a significant milestone for the Group which follows an extensive re-evaluation of the previously reported SAMREC estimates completed by the previous owner, a subsidiary of Gold Fields Limited (1.2Mt at 5.97g/t Au for 224,000oz²).

The significant increase in the Resource base is primarily due to the inclusion of areas deemed by the previous owner for SAMREC estimate reporting purposes to have been sterilised, including numerous areas which are now being targeted as part of Red 5’s mining strategy at Darlot together with reduced mining cut off grades and additional areas not quoted previously – which is already underway and delivering promising results.

Together with previously reported JORC 2012 Mineral Resources for the KOTH Project, this increases the Group’s JORC Mineral Resource inventory of Measured, Indicated and Inferred in Western Australia’s Eastern Goldfields to 1.3 million ounces.

The Company is also pleased to provide an update on operations at Darlot, where production for the December 2017 Quarter is on track to be at the upper end of the previously reported guidance range of 13-16,000oz. Red 5 has awarded an underground mining contract for the KOTH project to Pit N Portal Mining Services and expects mining to commence at KOTH in January 2018, providing a second supplementary source of ore feed to the Darlot mill. The first ore from the medium to low grade stockpiles at KOTH has been successfully trucked and milled at Darlot. Contractor, MLG Oz, screened and transported the ore to Darlot as shown in Figure 2.

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Figure 2: Road train delivering KOTH screened stockpiled ore to Darlot

The completion of the maiden JORC 2012 compliant Mineral Resource and a maiden Ore Reserve, together with the imminent start of production at KOTH, has enabled the Group to announce Group gold production guidance for calendar year 2018 of 85-95,000oz from both Darlot and KOTH.

Red 5 Managing Director Mark Williams said Red 5’s consolidation strategy in the Eastern Goldfields region of WA was on track with the performance of the Darlot operation delivering against expectations since the acquisition was completed on 2 October 2017, and forecast gold production for 2018 expected to establish its position as an emerging Australian gold producer over the next 12 months.

“The completion of our maiden JORC 2012 Mineral Resource and Ore Reserve statement is a significant milestone for the Company which reflects the potential of the Darlot Gold Mine. The increase in ounces compared with the previous SAMREC estimates reflects a variety of factors including a lower cut-off grade given the increase in the gold price since those estimates were completed, the inclusion of extensions to existing mining areas that were previously deemed to have been sterilised, and the application of different economic criteria and modifying factors more applicable to a junior gold producer like Red 5.

“The mineralisation is far from closed off and we have identified numerous opportunities to further expand the Resource with targeted drilling that will commence in early 2018. With the recommencement of grade control and targeted drilling, the Darlot ore reserves will be reassessed. These include resource extensions and targets that have been identified and further refined by the 3D seismic survey from existing interpretations and the improved geological understanding gained over the last few years. The 3D seismic has also aided in the targeting of a number of deep targets. Shallower oxide targets from pre-JORC 2012 resources which show good potential to develop a series of small shallow pits will also be evaluated. Work conducted by SRK Consulting has indicated that a number of these resources have the potential to develop as small operating pits for future ore feed for Darlot following additional work.”

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“Operationally, the project is performing well with mining of the Darlot underground orebody benefitting from our strategy to target extensions to existing mining areas. Three areas are currently being targeted on this basis with results exceeding expectation in terms of recovered tonnes and grade. The integration of the Darlot workforce with our management team has gone very well and the site is operating as a cohesive unit, with everyone focused on achieving the goals we have set for ourselves for the next 12 months.

“The Darlot mill is also performing well with opportunities identified to increase throughput capacity, and this work is ongoing currently. The recent award of the underground mining contract for King of the Hills should see ore production commence from this first satellite production centre in January 2018, supplementing existing production at Darlot. This combination of projects has allowed us to report our first production guidance statement for our Australian operations for the 2018 calendar year.”

The Company has recently secured a Western Australian Government co-funding grant of $100,000 towards a planned drilling programme at the Aurora prospect, which contains shallow historical drilling that is generally wide spaced. The drilling programme is designed to test a selection of historical and recent geochemical and geophysical targets identified along a structural corridor confirmed by the 3D seismic, stratigraphic/lithological and mineralisation trends over parts of the Darlot Syncline.

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Figure 3: Plan map showing aerial image with magnetic response and planned drill hole to test the Aurora target using the Western Australian government co-funding grant.

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Figure 4: Cross-section (looking northwest) through the Aurora target area showing trace of the co-funded planned drill hole with structural and stratigraphic target features.

Darlot Gold Mine – JORC 2012 Mineral Resource

The Mineral Resource estimates for the Darlot Gold Mine are reported by Red 5 in accordance with the JORC 2012 Code ( Table 1 ). A summary of the data and methodologies supporting the Mineral Resource estimates form part of this ASX release, including separate JORC Table 1’s for each of the deposits reported.

Table 1 – Mineral Resource estimate, Darlot Gold Mine, for the Deposit by resource area and JORC Classification.

	Mineral Resource, Darlot Gold Mine	Mineral Resource, Darlot Gold Mine
Area	Au cut off g/t	JORC 2012 Classification	Tonnes kt	Au g/t	Au koz
Centenary	2.0	Measured Indicated Inferred	7.1 1,633 1,028	10.1 5.5 4.7	2 289 154
Pedersen	2.0	Indicated Inferred	1,394 613	3.9 3.5	177 69
Lords South Lower	2.0	Indicated Inferred	548 38	4.6 4.1	81 5
Centenary Depth Analogue Lower	2.0	Indicated Inferred	167 113	8.0 6.3	43 23
Burswood	2.0	Indicated Inferred	162 295	4.8 2.9	25 28
Sub-total		Measured	7.1	10.1	2
Sub-total		Indicated	3,904	4.9	615
Sub-total		Inferred	2,086	4.1	278
Sub Total		Measured + Indicated	3,911	4.9	617
Total		All	5,997	4.6	895

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Notes on Mineral Resources:

Mineral Resources are quoted as inclusive of Ore Reserves.
Discrepancy in summation may occur due to rounding.
The updated JORC 2012 Underground Reserve expected marginal cut off will range between <2.0 to 2.3 g/t Au.
The figures take into account mining depletion as at 27 November 2017.
Figures do not include closing estimated ROM stocks of 13,200t @ 3.8g/t for 1,612oz as at 27 November 2017.
Refer to Appendix 1 for the JORC 2012 Table 1

Most of the Mineral Resources quoted in Table 1 are currently being mined, and the Burswood deposit is adjacent to current underground workings. A 402-camp is located adjacent to the mine site and an experienced workforce is employed.

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Figure 5: Isometric view of all Darlot lodes, Darlot open pit and underground development

Summary of Darlot Mineral Resource Estimates

Geology and Geological Interpretation

The Darlot lodes are considered to be part of an Archean hydrothermal fault-vein deposit with many similar characteristics with other deposits within the Yilgarn Craton, namely host rock type and nature of hydrothermal alteration; however, it is atypical in being relatively flat-lying rather than steeply dipping. Felsic porphyries and lamprophyre intrusions are encountered throughout the deposit. The major host for gold mineralisation is the Mount Pickering Dolerite. Five Mineral Resource models have been prepared for the purposes of this announcement, namely Centenary, Pedersen, Lords South Lower, Centenary Depth Analogue Oval and Burswood.

Gold mineralisation occurs within sub-horizontal to steeply-dipping stacked quartz veins bounded by deposit scale faults. The interpretations supporting the geological models are predominantly based upon drill-hole samples and geological mapping from the development drives.

Drilling Techniques

A total of 4,826 diamond drill (DD) holes (607,464m), 501 RCDD drill holes (Reverse Circulation (RC)) collars with diamond core tails (163,7784m), 707 Reverse Circulation drill holes (66,567m) and 8,334 face samples (50,082m) support the Mineral Resource.

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Sampling and Sub-Sampling Techniques

DD core sample lengths can be variable in a mineralised zone, though usually no larger than one-metre. Surface DD is generally NQ2 or HQ diameter core, while underground DD is usually NQ2 or LTK60.

DD samples were geotechnically and geologically logged and sample recoveries calculated. Where possible, core is sampled by cutting in half and samples bagged and dispatched to the analytical laboratory.

RC drill samples were geologically logged and sampled on one-metre intervals using similar codes to DD. Samples of 1 m drill length were passed through a rig-mounted cyclone and collected in large plastic bags positioned beneath the cyclone. Representative 3kg samples were collected in calico bags for despatch to the analytical laboratory.

Underground face sampling was carried out by the geologist painting a sample line orthogonal to the dip of the quartz veining and sampled according to geological intervals.

Sample Analysis Method

Primary assaying of DD and face samples was undertaken by ALS Kalgoorlie for considerable time up to the present time. Analysis is by 50g fire assay (FA) with Atomic Absorption Spectrometer (AAS) finish to 0.01 g/t detection limit.

Estimation Methodology

All geological interpretations were prepared in Darlot Mine Grid. Geological interpretations are based upon underground mapping, geological logs (all sample data) and gold assays. Multiple lodes modelled for each deposit are grouped into separate geological domains. Barren lamprophyres cross-cut some of the lodes and naturally deplete the Mineral Resource. Sample data were composited to 1m intervals, very high gold grades were top-cut, to statistically analysed and estimated into a block model using Ordinary Kriging (OK) and Simple Kriging (SK). A density of 2.90 t/m[3] was applied to all blocks. The models were validated to ensure that blocks were correctly coded for geological domains, and that estimated gold grades honoured the surrounding drill assays.

Cut-off Grades

All geological interpretations were completed by site geologists based on both grade and lithology, and an approximate Au lower cut-off of around 0.5 g/t. The Mineral Resources are reported above a cut-off grade of 2.0 g/t which is determined from the expected marginal underground mining cost.

Classification

The Mineral Resource models are classified as a combination of Indicated and Inferred. The classification of the Mineral Resource took into account the geological understanding of the deposit, quality of the samples, quality and quantity of density data, drill-hole spacing, and the quality of the block grade estimates. Geological understanding and quality of samples is sufficient to assume geological and grade continuity in the Indicated volumes.

For classification of Indicated Resources, a drill spacing of <40 x 40m was generally required, and for classification of Inferred Resources, <60 x 60m was required. The Indicated resource blocks were assigned the OK estimated grades while the Inferred resource blocks were assigned the SK estimated grade.

Other Material Modifying Factors

No significant amounts of deleterious elements have historically been encountered at Darlot or estimated in the Darlot Mineral Resource models, and hence have never been considered for estimation in the Mineral Resource. Pyrite does not occur in significant enough quantities to be considered for acid mine drainage (AMD) considerations.

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Summary of Darlot Ore Reserve Estimates

The Ore Reserve estimate for the Darlot Gold Mine is reported by Red 5 in accordance with the JORC 2012 Code ( Table 1 ). A summary of the data and methodologies supporting the Mineral Resource estimates form part of this ASX release, including the JORC Table 1’s for each of the Darlot deposit.

Table 2 – Ore Reserve estimate, Darlot Gold Mine, for the Deposit by JORC Classification.

	Tonnes (Million)	Au (g/t)	Au metal in situ (oz)	Recovered Au metal (oz)
Probable Proven	1.0 -	4.0 -	131,800 -	123,900 -
Total	1.0	4.0	131,800	123,900

Notes on Ore Reserves:

Ore Reserves are quoted as inclusive of Mineral Resources.
Discrepancy in summation may occur due to rounding.
Gold price of AUD1,650 used in the calculations of the Darlot Ore Reserves.
Current processing recoveries at the Darlot processing plant range between 93% to 94% for Au.
No Inferred Resources have been used in the derivation of the Ore Reserve estimate..
External dilution of 20% has been applied. 7. Refer to Appendix 1 for the JORC 2012 Table 1

Material Assumptions, Outcomes from Study and Economic Assumptions

A Pre-Feasibility Study standard study was undertaken and used actual Darlot mining, processing and administration costs to assess the economic viability of mining extensions to existing work areas. Conventional long hole stoping techniques have been used at Darlot continuously over the past 25 years and the ore reserves calculated utilise the same mining methods.

For more detail the reader is directed to Appendix 1 for JORC 2012 Code Table 1.

Criteria Used for Classification

Typically inferred material is adjacent to material classified as indicated in the resource model. As a result, the scheduled mining of some of the indicated material included some inferred material as dilution. The grade of the inferred material was not considered when assessing whether or not the relevant part of the resource should be included in the reserve estimate.

Some material captured in the mine design and used for assessing the reserve included, as dilution, material that was unclassified in the resource model. Unclassified material typically included parts of the resource model that are assumed to be of a background grade for the valuable metals, but are not actually estimated in the modelling process.

The unclassified material and inferred material makes up a small proportion of the reserve. Moreover it is directly adjacent to material that is classified as indicated. Given this, for the purposes of estimating a reserve, this material has been reclassified as indicated and included in probable reserve. All other indicated material captured with the mine design above the relevant cut-of grade was converted to a probable reserve. As specified in the JORC 2012 Code only indicated and measured material can be converted into a reserve.

Mining Methods and Mining Assumptions

The principal mining method used for the underground operation at Darlot is long hole stoping with cemented paste fill where required, only a small proportion of stopes are expected to be filled with paste. This is a proven mining method at Darlot that is associated with good productivities and reasonable costs. Ground conditions underground at Darlot are good. Mine designs have had 20% planned external dilution applied.

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Processing Methods and Processing Assumptions

Ore from the Darlot underground operation will be processed at the existing 0.83Mtpa gravity and carbon-inleach (CIL) processing facility. Metallurgical recoveries of 94% have been used which is in line with historic gold recoveries at Darlot.

Cut-Off Grade

A cut-off grade assessment was completed indicating an optimal cut-off grade of 2.3 g/t of Au should be applied for the purposes of developing a reserve estimate. Some low grade material has to be mined as development in order to access the resource above the economic cut-off grade. This material is not economic by itself; however, given that it has to be mined and transported to surface the valuable metal need only cover the cost of treatment. As a result this material has been included for the purposes of estimating the reserve. The cut-off grade for this material is 0.5 g/t Au.

Block Model Estimation Methodology

Material Modifying Factors and Approvals

The Darlot Underground Mine has been operated continuously since 1995 with operating parameters well understood with all regulatory approvals in place.

Existing mine infrastructure includes a 402 person accommodation village, airstrip, 0.83mtpa processing plant, power station and office/workshop infrastructure required to run the Darlot Gold Mine. Minor capital development and sustaining capital expenditure will be required to extract these reserves.

These resources and reserves have been compiled out of Red 5’s normal estimation cycle, which is to report reserves as at 30 June each year. The Company expects to review these resources and reserves mid-2018. Red 5 has elected to report resources and reserves at this time to demonstrate some of the potential of the recently acquired Darlot asset. To be included in reserves, Red 5 has to design stopes around the ore blocks. Given the acquisition of the asset, Red 5 has had limited time for this design process, which has restricted the generation of stope design and optimisation and has impacted the tonnage and grade of the reserves being reported. Because the Darlot asset was operating while in a sale process, the normal cycle of exploration and infill drilling was interrupted and this has impacted the generation of both resources and reserves which return to Red 5’s normal estimation.

OPERATIONS, DEVELOPMENT AND FINANCIAL UPDATE

The Darlot mining operation was acquired by Red 5 as an operating mine site, with the acquisition completed on 2 October 2017.

The Company’s Stage 1 development plan is to maximise throughput at the Darlot mill over an initial 3 year period by processing ore from both the Darlot and KOTH underground mining operations.

Stage 2 of the Strategy will centre on increasing the Company’s Resource base in the Eastern Goldfields through regional exploration within the 25,700ha tenement footprint, as well as assessing additional business development opportunities .

Extensions to existing mining areas program (Remnant Mining)

Mining a number of different areas in the upper and mid-levels of the mine which had previously been considered to have been sterilised was a key part of Red 5’s Stage 1 development plan.

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This program is delivering promising results, with stopes in the first three extensions to existing mining areas (Metzke, Walters and Bradman) exceeding expectations in terms of mined tonnages and grade.

The location of the Darlot lodes and planned work areas for the Life of Mine Plan can be seen in Figure 6, with a more detailed view of the three extension work areas seen in Figures 7 to 9.

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Figure 6: Plan view of Darlot lodes showing location of planned work areas

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Figure 7: Isometric view of the Marsh 1108 Bulk stope

The Marsh 1108 stope, as seen in Figure 7 was a developed block of ore identified as suitable for a bulk stope with an opportunity to mine 55kt at 1.9 g/t but the final mining shape is expected to produce 86kt at a similar grade for 5.5kozs. This stope is close to half mined out with every indication that the grade is holding up through the process plant.

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Figure 8: Bradman 1160 planned stoping area

The Bradman 1160 extension is currently being developed, initial designs contained 16kt at 5g/t however the development grades were quite exceptional through this area with the development face in Figure 8 averaging 7 g/t. The Company is planning to mine 33kt at 5 g/t with an additional 66kt at 3 g/t (Bradman West) identified as being economic and mineable.

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Figure 9: Walters 980 E Stope

The third extensional work area being developed is the Walters 980 E stope, where a closer inspection and evaluation has doubled the available ounces to be mined from 3.1koz to 6.3koz as seen in Figure 9. The Walters B stope is currently being mined after 19kt was successfully mined out of the W980 A stope.

Darlot Mill Performance

The Darlot processing plant has been performing strongly, with throughput reaching up to 100 tonnes per hour (tph) which is above the design annualised throughput capacity of 830,000tpa, with recoveries averaging 93.6%.

The strong performance of the processing department at Darlot supports Red 5’s strategy of aiming to fully utilise mill capacity in order to reduce unit operating costs.

King of the Hills Development

Red 5 has awarded the underground mining contract for the KOTH project to experienced underground mining contractors, Pit N Portal Mining Services. The contract is a standard fixed and variable three year mining contract. Pit n Portal will supply all equipment, mining and technical personnel whilst Red 5 will supply power, diesel, accommodation and flights.

DMIRS approvals to recommence mining at KOTH have been received and so mining at KOTH is expected to commence in early January 2018, however Pit n Portal have already commenced mobilisation to site and have been managing the dewatering activities at KOTH.

In anticipation of this milestone, a parcel of stockpiled, low grade run-of-mine (ROM) ore from KOTH has been transported to Darlot for trial processing to evaluate its metallurgical and blending characteristics. The first 1,000 tonne sample averaged 2 g/t with the ore treated through the Darlot processing plant.

Initial results from the heap leach amenability test work recently undertaken on samples of ore from the KOTH project are positive and indicate potential for heap leaching of the lower grade ores. Preliminary Intermittent Bottle Roll (IBR) test work indicate >70% gold recovery is achievable at typical heap leach operating conditions.

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Based on these positive results further sampling and second stage column leach test work will be scheduled in the New Year and is expected to take approximately three months.

Financial

The Group’s cash balance, including refined gold held in the metal account, as at 30 November 2017 was $19.6 million. However, this balance does not include a shipment made in early December 2017 of 3,034oz.

As previously advised, a working capital debt facility of $10-$15 million is continuing to be actively considered by Red 5.

2018 PRODUCTION GUIDANCE AND OUTLOOK

Gold production guidance for the Darlot operations, including from KOTH, for calendar year 2018 is in the range of 85,000-95,000oz, with production for the first quarter of calendar year 2018 expected to be in the range of 16,000-19,000oz.

Reporting of All-in Sustaining Costs (AISC) to date will be provided in the quarterly activities report for the December 2017 quarter which is due for release in late January 2018.

ENDS

For more information:

Investors/Shareholders:

Mark Williams, Managing Director John Tasovac, Chief Financial Officer Red 5 Limited Telephone: +61 8 9322 4455

Media:

Nicholas Read Read Corporate Tel: +61-8 9388 1474

About Red 5 Limited

Red 5 Limited (ASX: RED) is an Australian gold producer an asset portfolio in the Eastern Goldfields region of Western Australia comprising the operating Darlot Gold Mine and the King of the Hills (KOTH) Gold Project.

Red 5 holds a commanding 25,700ha footprint in the highly-endowed Leonora-Leinster gold district, one of Australia’s most active gold provinces, an expanding Mineral Resource inventory, gold production and outstanding exploration and growth potential.

The Group, through its associated Philippine company Greenstone Resources Corporation also holds interests in the Siana Gold Project, located in the established gold mining region of Surigao del Norte in the Philippines. Mining operations at the Siana Gold Project are currently suspended pending an improvement in operating conditions in the Philippines. Siana retains significant inherent value, including a substantial gold inventory, a modern 1.1Mtpa treatment facility, an open pit mine and a part-developed underground mine.

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Competent Person’s Statements

Mineral Resource

Mr Byron Dumpleton, confirms that he is the Competent Person for the Mineral Resources summarised in this report and Mr Dumpleton has read and understood the requirements of the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012 Edition). Mr Dumpleton is a Competent Person as defined by the JORC Code, 2012 Edition, having five years’ experience that is relevant to the style of mineralisation and type of deposit described in this report and to the activity for which he is accepting responsibility. Mr Dumpleton is a Member of the Australian Institute of Geoscientists, No. 1598. Mr Dumpleton is a full time employee of Red 5 Limited. Mr Dumpleton has reviewed this report and consents to the inclusion of the matters based on his supporting information in the form and context in which it appears.

Ore Reserve

Mr Steve Tombs confirms that he is the Competent Person for the open pit Ore Reserves estimates summarised in this report and Mr Tombs has read and understood the requirements of the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012 Edition). Mr Tombs is a Competent Person as defined by the JORC Code, 2012 Edition, having five years’ experience that is relevant to the style of mineralisation and type of deposit described in the report and to the activity for which he is accepting responsibility. Mr Tombs is a Fellow of the Australasian Institute of Mining and Metallurgy, No. 105785. Mr Tombs is a full time employee of Red 5. Mr Tombs has reviewed this report and consents to the inclusion of the matters based on his supporting information in the form and context in which it appears.

Forward-Looking Statements

Certain statements made during or in connection with this statement contain or comprise certain forward-looking statements regarding Red 5’s Mineral Resources and Reserves, exploration operations, 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 5 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 5, its officers, employees and advisors expressly disclaim any responsibility for the accuracy or completeness of the material contained in this statement 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 statement or any error or omission. Red 5 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.

Change from previous public report for the Resource estimates for the Darlot Deposit

Changes to the Mineral Resource estimate have been based on inclusion of material previously deemed as sterilised by the previous owner, a subsidiary of Gold Fields Limited. These areas were known as buffer zones by the previous owner and occurred within a 10 metre radius of mined out areas. From internal reviews a proportion of the sterilised area that can be readily and safely access by mining have been included in the updated resource figures. As part of the reporting, Red 5 has also reduced the reported cut-off from 3.2 to 2.0 g/t Au. For Red 5 the expected marginal cut-offs will range from <2.0 g/t Au to 2.3 g/t Au. In addition, the resource figures also include the Burswood resource which has not been previously reported.

JORC Code, 2012 Edition – Table 1 for the Centenary Combined Resource – Part of the Darlot Deposit

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling	• Nature and quality of sampling (eg cut channels, random chips, or	•Reverse circulation (RC), diamond core (DD) drilling provided pulverised chips
techniques	specific specialised industry standard measurement tools appropriate to	and competent lengths of core samples. Face sampling was converted to
	the minerals under investigation, such as down hole gamma sondes, or	dummy drill holes and included in the database. Drill hole data supporting the
	handheld XRF instruments, etc). These examples should not be taken as	Mineral Resource contains 10,098 unique drill hole IDs for a total sample
	limiting the broad meaning of sampling.	length of 524,888 m. Sludge samples were excluded from the drill hole data
	• Include reference to measures taken to ensure sample representivity and	files due to lack of quality assurance regarding sampling. A further 42 drill
	the appropriate calibration of any measurement tools or systems used.	holes (DD and RC) were also suppressed due to wither missing collar or
	• Aspects of the determination of mineralisation that are Material to the	downhole surveys, missing assay data or duplicate of existing hole.
	Public Report.	•A total of 3,092 Diamond drill holes (368,103.7 m) and 6,766 face samples
	• In cases where ‘industry standard’ work has been done this would be	(40,778.5 m) support the Mineral Resource. Other drill types including RC (4
	relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m	holes) constitute only a minor percentage of total drilling.
	samples from which 3 kg was pulverised to produce a 30 g charge for fire	•RC samples of 1 m drill length were passed through a rig mounted cyclone and
	assay’). In other cases more explanation may be required, such as where	collected in large plastic bags positioned beneath the cyclone. The action of
	there is coarse gold that has inherent sampling problems. Unusual	the cyclone adequately homogenises the sample collected in the bag.
	commodities or mineralisation types (eg submarine nodules) may warrant	Representative 3 kg samples were collected in calico bags for dispatch to the
	disclosure of detailed information.	analytical laboratory.
		•Diamond core is predominantly NQ2 with some HQ and was cleaned, laid out,
		measured and logged in its entirety. Core is marked up with a maximum core
		length of 1 m, depending on core size. Some core is whole sampled (full core
		collection) when necessary, but most core is half cut core. Digital photographs
		are taken and stored for reference purposes. Where possible core is cut in half
		with one half only being submitted for analysis at the Laboratory, with the other
		half is stored in the core farm for reference.
Drilling	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air	•The sample data for the Centenary area includes diamond drilling (DD),
techniques	blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or	underground face samples (FACE), reverse circulation holes with diamond
	standard tube, depth of diamond tails, face-sampling bit or other type,	core tails (RCDD), reverse circulation only drill holes (RC), surface drill holes
	whether core is oriented and if so, by what method, etc).	(SURF) and. The data was collected during 1998 to present.
		•Underground DDH is usually NQ2 or LTK60.
		•Underground face sampling was carried out by the mine geologist painting a
		sample line orthogonal to the dip of the quartz veining, and sampled according

Criteria	JORC Code explanation	Commentary
		to geological intervals. Samples were bagged and ticketed with unique sample
		IDs and dispatched to the assay laboratory.
Drill sample	• Method of recording and assessing core and chip sample recoveries and	•Drill sample recoveries are recorded for each sample number and stored in the
recovery	results assessed.	Acquire database. Diamond core samples were geotechnically logged and
	• Measures taken to maximise sample recovery and ensure representative	sample recoveries calculated. Most drill samples penetrating mineralisation are
	nature of the samples.	diamond core.
	• Whether a relationship exists between sample recovery and grade and	•Core recovery factors for core drilling are generally very high typically in excess
	whether sample bias may have occurred due to preferential loss/gain of	of 95% recovery. Some loss occurs locally when drilling through fault/shear
	fine/coarse material.	zones. Face sampling, by its nature, can be a biased sampling method, relying
		on manual ‘picking’ of the face by either a geological hammer, or by a Jumbo
		scraping sample material off the face and collected by the mine geologist. Face
		sampling can be regarded as having 100% sample recovery, however the
		Competent Person is cognisant of sampling bias. The use of face samples in
		grade estimation is provided in Section 3.
		•Periodic reviews of early drilling assay results and bias may be done form time
		to time where required on historical prospects where new drilling is done. Q-Q
		Plots of the re-drills and original holes are correlated and any bias (positive /
		negative) identified. This is utilised in any future interpretations and modelling.
		•The supervising geologist monitored the diamond core recoveries and
		discussed any shortcoming with the driller. Recoveries are generally very good
		however.
Logging	• Whether core and chip samples have been geologically and	•A geologist was present at all times during drilling and sampling. Geological
	geotechnically logged to a level of detail to support appropriate Mineral	logging protocols at the time of drilling were followed to ensure consistency in
	Resource estimation, mining studies and metallurgical studies.	drill logs between the geological staff.
	• Whether logging is qualitative or quantitative in nature. Core (or costean,	•Diamond core were logged for lithology, structure, stratigraphy, mineralisation,
	channel, etc) photography.	alteration, geophysical (magnetic properties) and geochemical properties
	• The total length and percentage of the relevant intersections logged.	(multi-element assays) and physical measurements (rock hardness,
		geotechnical RQD's, density, acid rock drainage (ARD)).
		•The full sample lengths were logged. Core was photographed (mostly wet).
Sub-sampling	• If core, whether cut or sawn and whether quarter, half or all core taken.	•DDH core sample lengths can be variable in a mineralized zone, though
techniques	• If non-core, whether riffled, tube sampled, rotary split, etc and whether	usually no larger than one-metre. This enables the capture of assay data for
and sample	sampled wet or dry.	narrow structures and localized grade variations.
preparation	• For all sample types, the nature, quality and appropriateness of the	•Grade control drill holes are sampled as whole core. DDH samples are taken
	sample preparation technique.	according to a cut sheet compiled by the geologist. Half or full core samples
	• Quality control procedures adopted for all sub-sampling stages to	are bagged in pre-numbered calico bags and submitted with a sample
	maximise representivity of samples.	submission form.
	• Measures taken to ensure that the sampling is representative of the in	•DDH core is cut by a Geotech field assistant.
	situ material collected, including for instance results for field	•The sampling protocols for both DD and Face are considered appropriate for
	duplicate/second-half sampling.	the style of mineralisation.
	• Whether sample sizes are appropriate to the grain size of the material	•A summary of the sample preparation process is as below:
	being sampled.	`o` Oven dried at 105ºC.
		`o` Jaw crushed to -12 mm.
		`o` If sample >3kg, Boyd crusher to 3 mm, and riffle split to <3kg.

Criteria	JORC Code explanation	Commentary
		`o` Pulverised in LM5.
		`o` 250-300 g pulp sample taken.
		`o` Remainder of pulp returned to calico sample bag.
		•Quality Control (QC) samples are inserted at a rate of 1 in 20. All standards
		used are Certified Reference Materials (CRM). The insertion of blanks is under
		the control of the geologist and CRMs are usually inserted one per batch.
		•Sample sizes are considered appropriate to the grain size of the material being
		sampled.
Quality of	• The nature, quality and appropriateness of the assaying and laboratory	•Primary assaying of face samples and DD samples has been undertaken by
assay data	procedures used and whether the technique is considered partial or total.	ALS Kalgoorlie for considerable time. Documentation regarding more historical
and laboratory	• For geophysical tools, spectrometers, handheld XRF instruments, etc, the	holes and their sample analyses are not well documented. Analysis is by 50g
tests	parameters used in determining the analysis including instrument make	fire assay (FA) with Atomic Absorption Spectrometer (AAS) finish to 0.01 g/t
	and model, reading times, calibrations factors applied and their	detection limit. Given the occurrence of coarse gold, Screen Fire Assays (SFA)
	derivation, etc.	checks are periodically undertaken.
	• Nature of quality control procedures adopted (eg standards, blanks,	•The processes are considered total.
	duplicates, external laboratory checks) and whether acceptable levels of	•Previous operators employed a comprehensive QA/QC regime with CRMs,
	accuracy (ie lack of bias) and precision have been established.	blanks, quartz flush checks and grind checks routinely monitored. Coarse
		duplicates from crush residue, and pulp duplicates from pulp residues were
		regularly monitored to test the quality of sub sampling stages. Results are
		documented on a quarterly basis, with any failures or irregularities investigated
		and actions taken to correct the issue. Regular communications were had with
		ALS.
		•Umpire analyses were undertaken at Independent Assay Laboratories (IAL) for
		selected samples comprising a 100 sample batch. Results show a reasonable
		correlation with the original samples, with differences largely attributable to
		nugget effects.
		•Acceptable levels of accuracy and precision were established prior to
		accepting the sample data as support for the Mineral Resource estimate.
		•The QAQC procedures and results show acceptable levels of accuracy and
		precision were established.
Verification of	• The verification of significant intersections by either independent or	•Centenary is a mature deposit within Darlot mining operations, and
sampling and	alternative company personnel.	intersections with significant Au grade are not unknown. Visible Au is often
assaying	• The use of twinned holes.	observed. If core samples with significant intersections are logged then
	• Documentation of primary data, data entry procedures, data verification,	alternative geological personnel are likely to review and confirm the results.
	data storage (physical and electronic) protocols.	•No twin drilling has occurred at Centenary.
	• Discuss any adjustment to assay data.	•All data at Darlot is stored in an SQL relational database format using acQuire
		software. acQuire enables definition of tasks, permission management and
		database integrity. The SQL Server database is configured for optimal
		validation through constraints, library tables and triggers. Data that fails these
		rules on import is rejected and not ranked as a priority to be used for exports or
		any data applications.
		•All exploration data control is managed centrally, from drill-hole planning to
		finalassay, survey and geologicalcapture. Themajority of logging data

Criteria	JORC Code explanation	Commentary
		(lithology, alteration, and structural characteristics of core and percussion
		chips) is captured directly either by manual or to customised digital logging
		tools with stringent validation and data entry constraints. Geologists load data
		in the acquire database where initial validation of the data occurs. The data are
		uploaded into the database by the geologist after which ranking of the data
		happen based on multiple QAQC and validation rules.
		•All assay data is uploaded into the database in a text format known as a sif.
		These files include detailed information about the batch, methods, units,
		detection limits and elements assayed. The file also includes all QC data in the
		sequence of analysis. The assay data is stored in a flattened format to ensure
		all required information is stored for each sample, and that multiple assay
		results are stored for each sample.
		•Data validation is controlled via rules, library tables and triggers. Once all data
		for a drill-hole have been entered into the database, the geologist responsible
		for the drilling program validates each drill-hole. A standard validation trigger in
		the acquire database run queries against the data, which includes checks for;
		incorrect collar locations, testing for overlapping, missing or incorrect down-
		hole surveys, and incorrect collar location.
		•A digital certified assay certificate in Adobe PDF format is backed up on the
		Darlot server on a regular schedule. A copy of the database also resides on the
		Red 5 back-up server in Perth.
		•The database is secure and password protected by the Database Administrator
		to prevent accidental or malicious adjustment to data.
		•No adjustments are made to the data.
Location of	• Accuracy and quality of surveys used to locate drill holes (collar and	•Collars are marked out pre-drilling and surveyed post-drilling by licensed
data points	down-hole surveys), trenches, mine workings and other locations used in	surveyors. All recent DD holes were surveyed down the hole by Reflex non-
	Mineral Resource estimation.	magnetic multi shot gyro survey. Down hole surveys are routinely undertaken
	• Specification of the grid system used.	by the drilling contractor and verified by the mine geologist.
	• Quality and adequacy of topographic control.	•Drill hole collars are located respective to the local mine grid and to the overall
		property in UTM MGA94-Zone51. Mine grid north is 44° west of north
		Australian Map Grid, and all mining Mineral Resource and Ore Reserve work is
		carried out in Mine Grid. Reduced Level (RL) for surface drilling is calculated
		by adding 1,000 m to surface elevation, while the underground RL is calculated
		by taking the surface RL minus the vertical depth to the point being referenced.
		•Underground voids are surveyed by mine surveyors. The survey control on
		these voids is considered adequate to support the depletion of the Mineral
		Resource model.
Data spacing	• Data spacing for reporting of Exploration Results.	•Typical drill spacing in Centenary ranges up to 30x30m, which is reduced to
and	• Whether the data spacing and distribution is sufficient to establish the	around 15x15m in the grade control areas.
distribution	degree of geological and grade continuity appropriate for the Mineral	•The Competent Person considers the data spacing to be sufficient to establish
	Resource and Ore Reserve estimation procedure(s) and classifications	the degree of geological and grade continuity appropriate for the Mineral
	applied.	Resource classification categories adopted for Centenary.
	• Whether sample compositing has been applied.	•Samples were not composited prior to dispatch for analyses.

Criteria	JORC Code explanation	Commentary
Orientation of	• Whether the orientation of sampling achieves unbiased sampling of	•Centenary was drilled by a combination of underground diamond holes and
data in relation	possible structures and the extent to which this is known, considering the	face sampling, with each face sample trace assigned a drill hole collar ID.
to geological	deposit type.	Underground drilling is confined to drill cuddies and the orientation of
structure	• If the relationship between the drilling orientation and the orientation of	exploration holes is often oblique to the mineralisation. Face sampling traces
	key mineralised structures is considered to have introduced a sampling	are aligned orthogonal to the dip of the mineralisation, as exposed in the face,
	bias, this should be assessed and reported if material.	whenever possible.
		•Resultant sampling bias, particularly from face sampling, is usually retained in
		the drill database and any potential impact upon the Mineral Resource was not
		assessed. The Competent Person does not believe any potential impacts to be
		material in terms of grade interpolation.
Sample	• The measures taken to ensure sample security.	•Although security in not strongly enforced, Darlot is a remote site and the
security		number of outside visitors is small. The deposit is known to contain visible gold
		and this renders the core susceptible to theft, however the risk of sample
		tampering is considered low.
		•ALS Kalgoorlie organise transport companies to pick up bagged samples from
		a secured locality at the mine site. These are then transported to the laboratory
		facility for further preparation and assaying. All samples received by the
		laboratory are physically checked against the despatch order and Darlot is
		notified of any discrepancies prior to sample preparation commencing. No
		Red5 personnel are involved in the preparation or analysis process.
Audits or	• The results of any audits or reviews of sampling techniques and data.	•A series of written standard procedures exists for sampling and core cutting at
reviews		Darlot. Periodic routine visits to drill rigs and the core farm are carried out by
		project geologists and Senior Geologists / Superintendents to review core
		logging and sampling practices. There were no adverse findings, and any
		minor deficiencies were noted and staff notified, with remedial training if
		required.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral	• Type, reference name/number, location and ownership including	•Centenary is covered by mining lease M37/155 and held by Darlot Mining
tenement and	agreements or material issues with third parties such as joint ventures,	Company Limited. This lease covers 1,000Ha and was granted on 18/7/1988,
land tenure	partnerships, overriding royalties, native title interests, historical sites,	renewed 17/7/2009 and to be renewed on 17/7/2030. Current rental has been
status	wilderness or national park and environmental settings.	paid ($17,600) and minimum annual expenditure of $100,000 is required and is
	• The security of the tenure held at the time of reporting along with any	being met. There are no Joint Ventures over the tenure and no native title
	known impediments to obtaining a licence to operate in the area.	claims. There are no other agreements in place apart from a 2.5% royalty for all
		gold sold, payable to the Government of Western Australia.
Exploration	• Acknowledgment and appraisal of exploration by other parties.	•Centenary is part of the Darlot Gold Mine, which has a long history of gold
done by other		mining and exploration. Alluvial gold was first mined in the area in 1894 with a
parties		consequent gold rush between 1895 and 1913. Total gold production from this
		time is unknown. Limited gold production occurred between 1935 and 1980.
		•Modern exploration of Darlot commenced in the period in the 1970’s, with
		intensive exploration by Sundowner Minerals NL during 1986 to 1988. Darlot
		open pit mining commenced in 1988, and Sundowner was acquired by Plutonic
		Resources in 1992, who continued open cut mining through to 1995.
		Underground mining commenced in 1995 and has continued to the present
		day.
		•Centenary was discovered in 1996, and underground development
		commenced in the same year. Mining has continued to the present day.
		•To the end of October 2017, the Darlot Gold Mine has produced 17 Mt @ 4.8
		g/t Au for 2.7 MOz.
		•A total of 3,092 Diamond drill holes (368,103.7 m) and 6,766 face samples
		(40,778.5 m) support the Mineral Resource.
		•3D seismic surveys were carried out in late 2016 to provide geophysical data in
		support of planned exploration programs.
Geology	• Deposit type, geological setting and style of mineralisation.	•The Darlot lodes are considered to be part of an Archean hydrothermal fault-
		vein deposit with many similar characteristics with other deposits within the
		Yilgarn Craton, namely host rock type and nature of hydrothermal alteration;
		however, it is atypical in being relatively flat-lying rather than steeply dipping.
		Felsic porphyries and lamprophyre intrusions are encountered throughout the
		deposit. The major host for gold mineralisation is the Mount Pickering Dolerite.
		•The Centenary deposit is located approximately 1.2 km east of the Darlot open
		pit and has been defined between 150 m and 700 m below the surface.
		•The Centenary gold mineralisation occurs within sub-horizontal to 20° north-
		westerly dipping stacked quartz veins bounded to the west by the Oval Fault
		and to the east by the Lords Fault. These reverse faults are marked by banded
		quartz veins dipping 50° to the northwest.
		•Gold mineralisation is associated with quartz veins and alteration haloes
		controlled by major D2 and D3 structures or secondary splays and cross-linking
		structures. The quartz veins are hosted mainly by magnetic dolerite and

Criteria	JORC Code explanation	Commentary
		magnetic quartz dolerite rock types and, to a lesser extent, by non-magnetic
		dolerite and felsic volcano-sedimentary rock types. Lamprophyre intrusions are
		present in the area with a variety of orientations. In most cases the
		lamprophyres are thought to be pre-mineralisation but are an unfavorable host
		rock for mineralisation and in most cases are barren.
		•Mineralisation is hosted by a fractionated Dolerite sill within the greater Mt
		Pickering dolerite syncline, with silica+/-albite+/-carbonate+/-pyrite+/-gold being
		the key alteration components.
Drill hole	• A summary of all information material to the understanding of the	•Drill hole information from Darlot drill programs, predominantly diamond core
Information	exploration results including a tabulation of the following information for	and face sampling, were used to support the Mineral Resource estimate. The
	all Material drill holes:	locations of drill samples, and the geological logs of these samples were used
	`o` easting and northing of the drill hole collar	to build the geological model, and with the sample analyses, support the
	`o` elevation or RL (Reduced Level – elevation above sea level in metres)	Mineral Resource estimate.
	of the drill hole collar
	`o` dip and azimuth of the hole
	`o` down hole length and interception depth
	`o` hole length.
	• If the exclusion of this information is justified on the basis that the
	information is not Material and this exclusion does not detract from the
	understanding of the report, the Competent Person should clearly explain
	why this is the case.
Data	• In reporting Exploration Results, weighting averaging techniques,	•Exploration results are not reported here, with most drill holes and face
aggregation	maximum and/or minimum grade truncations (eg cutting of high grades)	samples used to support the Mineral Resource estimate. Sludge samples are
methods	and cut-off grades are usually Material and should be stated.	recorded in the drill hole database but were not used in the Mineral Resource
	• Where aggregate intercepts incorporate short lengths of high grade	estimate due insufficient reliability of sampling methods.
	results and longer lengths of low grade results, the procedure used for
	such aggregation should be stated and some typical examples of such
	aggregations should be shown in detail.
	• The assumptions used for any reporting of metal equivalent values
	should be clearly stated.
Relationship	• These relationships are particularly important in the reporting of	•From mapping and diamond drilling, mineralisation appear to be dipping
between	Exploration Results.	approximately 20 degrees to the north west. Drillholes are angled to drill as
mineralisation	• If the geometry of the mineralisation with respect to the drill hole angle is	close to perpendicular to mineralisation as possible, although this is difficult
widths and	known, its nature should be reported.	when drilling from underground locations, targeting lode positions along strike
intercept	• If it is not known and only the down hole lengths are reported, there	from the drill cuddies.
lengths	should be a clear statement to this effect (eg ‘down hole length, true	•Intercepts reported are downhole length, and true width can generally be
	width not known’).	calculated because the dip of the lode is known.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts	•Isometric view representing the Darlot deposit (including the Centenary
	should be included for any significant discovery being reported These	Combined Resource) is shown in announcement.
	should include, but not be limited to a plan view of drill hole collar
	locations and appropriate sectional views.
Balanced	• Where comprehensive reporting of all Exploration Results is not	•Exploration results are not reported here, with all drill holes used to support the
reporting	practicable, representative reporting of both low and high grades and/or	Mineral Resource estimate.
	_widths should be practiced to avoid misleading reporting of Exploration _

Criteria	JORC Code explanation	Commentary
	Results.
Other	• Other exploration data, if meaningful and material, should be reported	•Centenary is part of the Darlot Gold Mine, and the lodes were geologically
substantive	including (but not limited to): geological observations; geophysical survey	mapped in underground exposures. The geological mapping provided a
exploration	results; geochemical survey results; bulk samples – size and method of	foundation for the interpretation of the geological models.
data	treatment; metallurgical test results; bulk density, groundwater,	•Metallurgical testwork carried out in 2010 demonstrated a recovery of 91% for
	geotechnical and rock characteristics; potential deleterious or	Centenary ore.
	contaminating substances.	•Bulk density testwork is discussed in Section 3 of this table. Samples were
		tested using the water immersion technique. Fresh core billets (not weathered)
		were not required to be wax coated prior to immersion.
Further work	• The nature and scale of planned further work (eg tests for lateral	•Centenary is open along strike and down dip, with potential for additional gold
	extensions or depth extensions or large-scale step-out drilling).	mineralisation in these directions.
	• Diagrams clearly highlighting the areas of possible extensions, including	•Plans are currently being formulated for exploration drilling to test these targets.
	the main geological interpretations and future drilling areas, provided this
	information is not commercially sensitive.

Section 3 Estimation and Reporting of Mineral Resources

(Criteria listed in section 1, and where relevant in section 2, also apply to this section.)

Criteria	JORC Code explanation	Commentary
Database	• Measures taken to ensure that data has not been corrupted by, for	•Data is entered directly into the data capture system in the field, and reviewed
integrity	example, transcription or keying errors, between its initial collection and	by a geologist before being imported to the main database. Geological Logging
	its use for Mineral Resource estimation purposes.	at Darlot is collected by geologists and entered directly into an Acquire
	• Data validation procedures used.	Database on a laptop computer. Logging is regularly checked by a senior
		company geologist to ensure the veracity and consistency of the data.
		•Logs cannot be finalised if key fields are missing, nor can codes not existing in
		the library be entered, ensuring continuity of data, and reducing data entry and
		transcription errors.
		•Once in the main database, only the database administrators can edit or
		change data, and all changes are logged by the system.
Site visits	• Comment on any site visits undertaken by the Competent Person and the	•The Competent Person(s) (CP) are based on site at Darlot and are familiar with
	outcome of those visits.	the geological setting of the deposit, sampling protocols, quality control and
	• If no site visits have been undertaken indicate why this is the case.	quality assurance (QA/QC) of sample data, resource modelling procedures,
		current site procedures and policies, and are confident that all data collected is
		verifiable and has been collected in line with industry best practices to support
		a Mineral Resource Estimate.
Geological	• Confidence in (or conversely, the uncertainty of ) the geological	•Gold mineralisation is associated with quartz veins and alteration haloes
interpretation	interpretation of the mineral deposit.	controlled by major D2 and D3 structures or secondary splays and cross linking
	• Nature of the data used and of any assumptions made.	structures. The quartz veins are hosted mainly by magnetic dolerite and
	• The effect, if any, of alternative interpretations on Mineral Resource	magnetic quartz dolerite rock types and, to a lesser extent, by non-magnetic
	estimation.	dolerite and felsic volcano-sedimentary rock types. Lamprophyre intrusions are
	• The use of geology in guiding and controlling Mineral Resource	present in the area with a variety of orientations. In most cases the
	estimation.	lamprophyres are thought to be pre-mineralisation but are an un-favorable host
	• The factors affecting continuity both of grade and geology.	rock for mineralisation and in most cases are barren.
		•The veins associated with the mineralisation typically dip to the NW between
		~5°and 20°with the associated mainly quartz filled structures dipping at
		around 50°. In Centenary these veins typically occur in vast flat stacked arrays
		between the Lords and Oval Faults, and other parallel structures. The mining
		history at Darlot and associated reconciliations has proven the veracity of this
		model.
		•The sample data for the Centenary includes diamond drilling (DD), reverse
		circulation (RC) with DD tail and RC only. Underground face samples taken by
		mine geologists were also included. Some holes were excluded due to
		erroneous collar and down-hole surveys and a default grade of 0.005g/t was
		assigned where the gold grade was absent. The interpretations supporting the
		geological models are predominantly based upon drill hole samples.
		•All geological interpretations for Centenary are prepared in Darlot Mine Grid.
		•The Centenary Orebody has been continuously mined since 1996 and
		alternative interpretations have not been considered as the geological controls
		are generallywellunderstood.

Criteria	JORC Code explanation	Commentary
		•The Centenary Deposit is sub-divided into eighteen mineralised domains based
		on geology and structure, with the steeper fault hosted domains such as
		Walters, Lords and Oval areas separated from the flatter wing vein hosted
		mineralisation such as the Grace-Marsh bulk and Boon North areas. There are
		also shallowly dipping domains such as the Benaud’s Link. Those domains
		with similar characteristics were grouped geo-statistically.
		•The site geologists prepared the interpretations of the mineralised lodes within
		these domains and the 254 lodes are modeled as 304 individual wireframes.
		•The grade in the ore bodies is controlled by both structure and host lithology, in
		that typically the best grades are hosted by the Magnetic Dolerite and Felsic
		intrusions, with comparatively lesser grades observed in the other host rocks
		such as the non-magnetic dolerite. Consequently host lithology for lodes was a
		key factor considered for the estimate.
Dimensions	• The extent and variability of the Mineral Resource expressed as length	•The deposit has an overall strike length of about 1.3km and a width of about
	(along strike or otherwise), plan width, and depth below surface to the	0.5km and extends from about 150m to 700m below the natural surface.
	upper and lower limits of the Mineral Resource.
Estimation and	• The nature and appropriateness of the estimation technique(s) applied	•As previously noted, the Mineral Resource estimate has been divided into
modelling	and key assumptions, including treatment of extreme grade values,	eighteen (18) domains for the purpose of resource estimation. The model was
techniques	domaining, interpolation parameters and maximum distance of	constructed with manual wireframing in both Vulcan and Datamine software.
	extrapolation from data points. If a computer assisted estimation method	•The 304 wireframes mentioned above were imported directly into Datamine for
	was chosen include a description of computer software and parameters	grade estimation and resource reporting.
	used.	•Datamine was used for block modelling, grade interpolation, and Mineral
	• The availability of check estimates, previous estimates and/or mine	Resource classification and reporting. Snowden Supervisor was used for
	production records and whether the Mineral Resource estimate takes	geostatistical analyses. The Au domain interpretations were based upon both
	appropriate account of such data.	geology and grade.
	• The assumptions made regarding recovery of by-products.	•Given the crenulated nature of some of the Centenary lodes, several of the
	• Estimation of deleterious elements or other non-grade variables of	domains were flattened, meaning all composites and blocks are transformed to
	economic significance (eg sulphur for acid mine drainage	a single RL and estimated in 2D space, and then re-transformed back into 3D
	characterisation).	space. Only the elevation is adjusted while the X and Y coordinates remain the
	• In the case of block model interpolation, the block size in relation to the	same.
	average sample spacing and the search employed.	•The interpreted mineralisation wireframes encompass broad areas, with gold
	• Any assumptions behind modelling of selective mining units.	grades that vary from poorly mineralised through to significantly mineralised
	• Any assumptions about correlation between variables.	within each domain. To improve definition of higher grades within the
	• Description of how the geological interpretation was used to control the	mineralised domains an indicator estimation method, based on ≥ 1 g/t Au and ≥
	resource estimates.	3 g/t Au composited drill hole grade thresholds, was applied. The two
	• Discussion of basis for using or not using grade cutting or capping. • The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available.	thresholds are selected to identify areas of lower grade gold mineralisation from the high grade gold mineralisation and the threshold of 3 g/t Au is intentionally below the Mineral Resource reporting cut-off and the Ore Reserves reporting cut-off.
		•Significant amounts of lamprophyre which are generally barren cross-cut some
		of the lodes, some of the larger ones were wire-framed by the site geologists,
		while a categorical estimation technique was applied to model out the less
		continuous dykes, based on an indicator kriging technique. These areas are
		then flagged as waste in the final model.

Criteria JORC Code explanation Commentary • The Centenary lodes have been mined since 1996 and historical mine to mill reconciliations have proven the veracity of the model. No check estimates are known to have been completed.
• No significant amounts of deleterious elements have historically been encountered or estimated in the Centenary deposit, and hence have never been considered for estimation in the Mineral Resource. Pyrite does not occur in significant enough quantities to be considered for acid mine drainage (AMD) considerations.
• All of the Centenary lodes are entirely in fresh rock • All lodes were sub-celled to 1x1x1m block sizes with a nominal parent cell size of 10x10x5m. In grade control areas this was reduced to 5m(X) x 5m(Y) x 5m(Z), to more accurately represent the closer spaced drilling. Typical drill spacing in Centenary ranges up to 30x30m, which is reduced to around 15x15m in the grade control areas. The table below summarizes the search parameters used.
• All gold grades were estimated using Ordinary Kriging, Simple Kriging and All gold grades were estimated using Ordinary Kriging, Simple Kriging and Inverse Distance Squared (IDS) as a comparative for validation purposes. IDS estimated grades have not been reported. The OK estimated grades were applied to the Indicated resource blocks only while the Inferred resource blocks and unclassified blocks were assigned the SK estimated grade.
• Samples were composited to 1 m intervals. Samples were composited to 1 m intervals. • A variety of top cuts were applied to the composites of up to 60g/t; dependent on the statistics for each domain. This was based on assessment of outliers and histogram skewness.
• Centenary is primarily a gold deposit and other elements have not been considered for analysis.
• The estimates were validated in three ways, by on-screen visual assessments, declustered sample mean grades vs. block mean grades for each domain and swath plots.
Moisture • Whether the tonnages are estimated on a dry basis or with natural • Tonnages are estimated on a dry basis. moisture, and the method of determination of the moisture content.
Cut-off • The basis of the adopted cut-off grade(s) or quality parameters applied. • All geological interpretations were completed by site geologists based on both
All gold grades were estimated using Ordinary Kriging, Simple Kriging and All gold grades were estimated using Ordinary Kriging, Simple Kriging and Inverse Distance Squared (IDS) as a comparative for validation purposes. IDS estimated grades have not been reported. The OK estimated grades were applied to the Indicated resource blocks only while the Inferred resource blocks and unclassified blocks were assigned the SK estimated grade.
• Samples were composited to 1 m intervals. Samples were composited to 1 m intervals.

Criteria	JORC Code explanation	Commentary
parameters		grade and lithology, and an approximate lower cut-off of around 0.5g/t.
Mining factors	• Assumptions made regarding possible mining methods, minimum mining	•Domains were modelled to a minimum 1 m plan width.
or	dimensions and internal (or, if applicable, external) mining dilution. It is
assumptions	always necessary as part of the process of determining reasonable
	prospects for eventual economic extraction to consider potential mining
	methods, but the assumptions made regarding mining methods and
	parameters when estimating Mineral Resources may not always be
	rigorous. Where this is the case, this should be reported with an
	explanation of the basis of the mining assumptions made.
Metallurgical	• The basis for assumptions or predictions regarding metallurgical	•During the mining history of the Centenary lodes the mill at Darlot has generally
factors or	amenability. It is always necessary as part of the process of determining	achieved >93-95% recoveries with a significant portion of the gold also
assumptions	reasonable prospects for eventual economic extraction to consider	captured by a gravity circuit.
	potential metallurgical methods, but the assumptions regarding	•The CP is not aware of any specific metallurgical test-work for these orebodies.
	metallurgical treatment processes and parameters made when reporting
	Mineral Resources may not always be rigorous. Where this is the case,
	this should be reported with an explanation of the basis of the
	metallurgical assumptions made.
Environmen-	• Assumptions made regarding possible waste and process residue	•Darlot has had an extensive mining history and as such has full infrastructure
tal factors or	disposal options. It is always necessary as part of the process of	for the treatment of processing and mining residues.
assumptions	determining reasonable prospects for eventual economic extraction to	•Darlot is certified as ISO14001 compliant for environmental management and is
	consider the potential environmental impacts of the mining and	also certified for International Cyanide Management Code.
	processing operation. While at this stage the determination of potential
	environmental impacts, particularly for a greenfields project, may not
	always be well advanced, the status of early consideration of these
	potential environmental impacts should be reported. Where these
	aspects have not been considered this should be reported with an
	explanation of the environmental assumptions made.
Bulk density	• Whether assumed or determined. If assumed, the basis for the	•A dry (in situ) bulk density of 2.90 t/m3 has been used for all lithologies. This
	assumptions. If determined, the method used, whether wet or dry, the	value has been historically assigned for the Darlot project area.
	frequency of the measurements, the nature, size and representativeness	•Data is available for bulk density determinations and is recorded in Red 5
	of the samples.	Limited’s database, and was assessed by previous operators of the Darlot Gold
	• The bulk density for bulk material must have been measured by methods	Mine. The CP is satisfied that the value used is verifiable and typical given their
	that adequately account for void spaces (vugs, porosity, etc), moisture	knowledge and experience in similar deposits in the Eastern Goldfields of
	and differences between rock and alteration zones within the deposit.	Western Australia.
	• Discuss assumptions for bulk density estimates used in the evaluation	•All the bulk density records that have been sighted were determined by the
	process of the different materials.	Archimedes method of immersion in water, with no wax coating required as
		porosity is not an issue in Darlot host rocks. These samples are considered
		representative of the lodes and waste zones.
Classification	• The basis for the classification of the Mineral Resources into varying	•The Mineral Resource is classified as Indicated and Inferred.
	confidence categories.	•The geological evidence for mineralisation occurrence and continuity was
	• Whether appropriate account has been taken of all relevant factors (ie	observed in drill samples and significant underground workings on the
	relative confidence in tonnage/grade estimations, reliability of input data,	Centenary lodes. For classification of Indicated; in the main steep lodes a drill
	confidence in continuity of geology and metal values, quality, quantity and	spacing of <40 x 40 m was required, with <20 x 20 m for the flatter lodes. For
	distribution of the data).	classification of Inferred; < 60 x 60 m for steep lodes and < 40 x 40 m for the

Criteria	JORC Code explanation	Commentary
	• Whether the result appropriately reflects the Competent Person’s view of	flatter lodes. Any blocks outside these parameters were unclassified. Drill
	the deposit.	sampling and analytical techniques for DD and RC drilling as well as face
		sampling are well documented by Red 5 Limited, as well as rigorous QAQC
		protocols and documentation to support an Indicated Resource Classification
		where geological confidence allows.
		•The classification of the Mineral Resource took into account the geological
		understanding of the deposit, quality of the samples, quality and quantity of
		density data, drill hole spacing, and the quality of the block grade estimates.
		Geological understanding and quality of samples is sufficient to assume
		geological and grade continuity in the Indicated volumes.
		•All relevant factors have been taken into account when determining the
		resource classification for Centenary deposit, and the results are deemed by
		the CP to be fair and relevant.
Audits or	• The results of any audits or reviews of Mineral Resource estimates.	•The Mineral Resource Estimate was peer reviewed internally by Goldfields
reviews		Australia, and also by OPTIRO consultants.
Discussion of	• Where appropriate a statement of the relative accuracy and confidence	•The Mineral Resource estimate is considered a global resource for both
relative	level in the Mineral Resource estimate using an approach or procedure	Indicated and Inferred Resource estimations.
accuracy/	deemed appropriate by the Competent Person. For example, the	•The CP is comfortable that more than 20 years of mining and reconciliation
confidence	application of statistical or geostatistical procedures to quantify the	data is deemed sufficient to verify the veracity of the estimate.
	relative accuracy of the resource within stated confidence limits, or, if	•Fully surveyed voids have been used to deplete the model of already mined
	such an approach is not deemed appropriate, a qualitative discussion of	material.
	the factors that could affect the relative accuracy and confidence of the
	estimate.
	• The statement should specify whether it relates to global or local
	estimates, and, if local, state the relevant tonnages, which should be
	relevant to technical and economic evaluation. Documentation should
	include assumptions made and the procedures used.
	• These statements of relative accuracy and confidence of the estimate
	should be compared with production data, where available.

JORC Code, 2012 Edition – Table 1 for the Pederson Resource – Part of the Darlot Deposit

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling	• Nature and quality of sampling (eg cut channels, random chips, or	•Reverse circulation (RC) and diamond core (DD) drilling provided pulverized
techniques	specific specialised industry standard measurement tools appropriate to	chips and (generally) competent lengths of core samples. A small quantity of
	the minerals under investigation, such as down hole gamma sondes, or	face sampling is included in the database. Drill hole data supporting the
	handheld XRF instruments, etc). These examples should not be taken as	Mineral Resource contains 2,900 holes for a total sample length of 258,186.1
	limiting the broad meaning of sampling.	m.
	• Include reference to measures taken to ensure sample representivity and	•A total of 868 Diamond drill holes (73,000.58 m), 418 RCDD holes (RC collars
	the appropriate calibration of any measurement tools or systems used.	with DD tails, 115,221.27 m), 699 RC holes (64,501.55 m) and 915 face
	• Aspects of the determination of mineralisation that are Material to the	samples (5,462.7 m) support the Mineral Resource.
	Public Report.	•RC samples of 1 m drill length were passed through a rig mounted cyclone and
	• In cases where ‘industry standard’ work has been done this would be	collected in large plastic bags positioned beneath the cyclone. The action of
	relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m	the cyclone adequately homogenizes the sample collected in the bag.
	samples from which 3 kg was pulverised to produce a 30 g charge for fire	Representative 3 kg samples were collected in calico bags for dispatch to the
	assay’). In other cases more explanation may be required, such as where	analytical laboratory.
	there is coarse gold that has inherent sampling problems. Unusual	•Diamond core is predominantly NQ2 with some HQ was cleaned, laid out,
	commodities or mineralisation types (eg submarine nodules) may warrant	measured and logged in its entirety. Core is marked up with a maximum core
	disclosure of detailed information.	length of 1 m, depending on core size. Some core is whole sampled (full core
		collection) when necessary, but most core is half cut core. Digital photographs
		are taken and stored for reference purposes. Where possible core is cut in half
		with one half only being submitted for analysis at the Laboratory, with the other
		half is stored in the core farm for reference.
		•Underground face sampling was carried out by the mine geologist painting a
		sample line orthogonal to the dip of the quartz veining and sampled according
		to geological intervals. Samples were bagged and ticketed with unique sample
		IDs and dispatched to the assay laboratory.
Drilling	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air	•The sample data for the Pedersen area includes diamond drilling (DD), reverse
techniques	blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or	circulation holes with diamond core tails (RCDD), reverse circulation only drill
	standard tube, depth of diamond tails, face-sampling bit or other type,	holes (RC), surface drill holes (SURF) and underground face samples (FACE).
	whether core is oriented and if so, by what method, etc).	The data was collected during 1998 to 1999 and 2007 to 2015.
		•Surface DDH is generally NQ2 or HQ, while underground DDH is usually NQ2
		or LTK60. Underground exploration/resource drilling is almost exclusively DD.
		•RC drilling used a face sampling hammer.
Drill sample	• Method of recording and assessing core and chip sample recoveries and	•Drill sample recoveries are recorded for each sample number and stored in the
recovery	results assessed.	Acquire database. Diamond core samples were geotechnically logged and
	• Measures taken to maximise sample recovery and ensure representative	sample recoveries calculated. Most drill samples penetrating mineralisation are
	nature of the samples.	diamond core with RC closer to the topographic surface, and weights of RC
	• Whether a relationship exists between sample recovery and grade and	samples are not recorded. Visual checks by the supervising geologist
	whether sample bias may have occurred due to preferential loss/gain of	assessed RC sample recovery on the run.
	fine/coarse material.	•Diamond drillingand openpitgrade control drillingtypically provide close to

Criteria	JORC Code explanation	Commentary
		100% sample recovery, and where core loss occurs, it is recorded. Pre-1995
		drilling did not utilise core blocks making estimation of core recovery prior to
		that point in time difficult.
		•Core recovery factors for core drilling are generally very high typically in excess
		of 95% recovery. Some loss occurs locally when drilling through fault/shear
		zones.
		•Where possible, RC percussion samples are recovered from the RC drill rig
		through the cyclone splitter, providing a 2-4 kg sample, which is submitted for
		assay.
		•Periodic reviews of early drilling assay results and bias may be done form time
		to time where required on historical prospects where new drilling is done. Q-Q
		Plots of the re-drills and original holes are correlated and any bias (positive /
		negative) identified. This is utilised in any future interpretations and modelling.
		•The supervising geologist monitored the diamond core recoveries and
		discussed any shortcoming with the driller.
Logging	• Whether core and chip samples have been geologically and	•A geologist was present at all times during drilling and sampling. Geological
	geotechnically logged to a level of detail to support appropriate Mineral	logging protocols at the time of drilling were followed to ensure consistency in
	Resource estimation, mining studies and metallurgical studies.	drill logs between the geological staff.
	• Whether logging is qualitative or quantitative in nature. Core (or costean,	•RC chips were logged for weathering, lithologies, mineralogy, colour and
	channel, etc) photography.	grainsize. RC chip trays (with chips) were infrequently photographed.
	• The total length and percentage of the relevant intersections logged.	•Diamond core were logged for lithology, structure, stratigraphy, mineralisation,
		alteration, geophysical (magnetic properties) and geochemical properties
		(multi-element assays) and physical measurements (rock hardness,
		geotechnical RQD's, density, acid rock drainage (ARD)).
		•The full sample lengths were logged. Core was photographed (mostly wet).
Sub-sampling	• If core, whether cut or sawn and whether quarter, half or all core taken.	•DDH core sample lengths can be variable in a mineralized zone, though
techniques	• If non-core, whether riffled, tube sampled, rotary split, etc and whether	usually no larger than one-metre. This enables the capture of assay data for
and sample	sampled wet or dry.	narrow structures and localized grade variations.
preparation	• For all sample types, the nature, quality and appropriateness of the	•Grade control drill holes are sampled as whole core. DDH samples are taken
	sample preparation technique.	according to a cut sheet compiled by the geologist. Half or full core samples
	• Quality control procedures adopted for all sub-sampling stages to	are bagged in pre-numbered calico bags and submitted with a sample
	maximise representivity of samples.	submission form.
	• Measures taken to ensure that the sampling is representative of the in	•DDH core is cut by a Geotech field assistant.
	situ material collected, including for instance results for field	•RC drilling is logged and sampled on one-metre intervals using similar codes to
	duplicate/second-half sampling.	DDH core.
	• Whether sample sizes are appropriate to the grain size of the material	•The sampling protocols for both DD and RC are considered appropriate for the
	being sampled.	style of mineralisation.
		•A summary of the sample preparation process is as below:
		`o` Oven dried at 105ºC.
		`o` Jaw crushed to -12 mm.
		`o` If sample >3kg, Boyd crusher to 3 mm, and riffle split to <3kg.
		`o` Pulverised in LM5.
		`o` 250-300g pulpsample taken.

Criteria	JORC Code explanation	Commentary
		`o` Remainder of pulp returned to calico sample bag.
		•Quality Control (QC) samples are inserted at a rate of 1 in 20. All standards
		used are Certified Reference Materials (CRM). The insertion of blanks is under
		the control of the geologist and CRMs are usually inserted one per batch.
		•Sample sizes are considered appropriate to the grain size of the material being
		sampled.
Quality of	• The nature, quality and appropriateness of the assaying and laboratory	•Primary assaying of face samples, DDH and RC has been undertaken by ALS
assay data	procedures used and whether the technique is considered partial or total.	Kalgoorlie for considerable time. Documentation regarding more historical
and laboratory	• For geophysical tools, spectrometers, handheld XRF instruments, etc, the	holes and their sample analyses are not well documented. Analysis is by 50g
tests	parameters used in determining the analysis including instrument make	fire assay (FA) with Atomic Absorption Spectrometer (AAS) finish to 0.01 g/t
	and model, reading times, calibrations factors applied and their	detection limit. Given the occurrence of coarse gold, Screen Fire Assays (SFA)
	derivation, etc.	checks are periodically.
	• Nature of quality control procedures adopted (eg standards, blanks,	•The processes are considered total.
	duplicates, external laboratory checks) and whether acceptable levels of	•Previous operators employed a comprehensive QA/QC regime with CRMs,
	accuracy (ie lack of bias) and precision have been established.	blanks, quartz flush checks and grind checks routinely monitored. Coarse
		duplicates from crush residue, and pulp duplicates from pulp residues were
		regularly monitored to test the quality of sub sampling stages. Results are
		documented on a quarterly basis, with any failures or irregularities investigated
		and actions taken to correct the issue. Regular communications were had with
		ALS.
		•Acceptable levels of accuracy and precision were established prior to
		accepting the sample data as support for the Mineral Resource estimate.
		•The QAQC procedures and results show acceptable levels of accuracy and
		precision were established.
Verification of	• The verification of significant intersections by either independent or	•Pedersen is a mature deposit within Darlot mining operations, and intersections
sampling and	alternative company personnel.	with significant Au grade are not unknown. Visible Au is often observed. If core
assaying	• The use of twinned holes.	samples with significant intersections are logged then alternative geological
	• Documentation of primary data, data entry procedures, data verification,	personnel are likely to review and confirm the results.
	data storage (physical and electronic) protocols.	•No twin drilling has occurred at Pedersen.
	• Discuss any adjustment to assay data.	•All data at Darlot is stored in an SQL relational database format using acQuire
		software. acQuire enables definition of tasks, permission management and
		database integrity. The SQL Server database is configured for optimal
		validation through constraints, library tables and triggers. Data that fails these
		rules on import is rejected and not ranked as a priority to be used for exports or
		any data applications.
		•All exploration data control is managed centrally, from drill-hole planning to
		final assay, survey and geological capture. The majority of logging data
		(lithology, alteration, and structural characteristics of core and percussion
		chips) is captured directly either by manual or to customised digital logging
		tools with stringent validation and data entry constraints. Geologists load data
		in the acquire database where initial validation of the data occurs. The data are
		uploaded into the database by the geologist after which ranking of the data
		happen based on multiple QAQC and validation rules.
		•All assay data is uploaded into the database in a text format known as a sif.

Criteria	JORC Code explanation	Commentary
		These files include detailed information about the batch, methods, units,
		detection limits and elements assayed. The file also includes all QC data in the
		sequence of analysis. The assay data is stored in a flattened format to ensure
		all required information is stored for each sample, and that multiple assay
		results are stored for each sample.
		•Data validation is controlled via rules, library tables and triggers. Once all data
		for a drill-hole have been entered into the database, the geologist responsible
		for the drilling program validates each drill-hole. A standard validation trigger in
		the acquire database run queries against the data, which includes checks for;
		incorrect collar locations, testing for overlapping, missing or incorrect down-
		hole surveys, and incorrect collar location.
		•A digital certified assay certificate in Adobe PDF format is backed up on the
		Darlot server on a regular schedule. A copy of the database also resides on the
		Red 5 back-up server in Perth.
		•The database is secure and password protected by the Database Administrator
		to prevent accidental or malicious adjustment to data.
		•No adjustments are made to the data.
Location of	• Accuracy and quality of surveys used to locate drill holes (collar and	•Collars are marked out pre and post drilling by licensed surveyors. Surface
data points	down-hole surveys), trenches, mine workings and other locations used in	collars were surveyed using Differential Global Positioning System (DGPS). All
	Mineral Resource estimation.	recent DDH holes were surveyed down the hole by single shot down hole
	• Specification of the grid system used.	camera and Reflex non-magnetic multi shot gyro survey. Down hole surveys
	• Quality and adequacy of topographic control.	are routinely undertaken by the drilling contractor. Due to the relatively short
		depths of RC drilling (<100m) these holes are generally not surveyed. When
		RC is used as pre-collars to DDH tails, these are then surveyed using standard
		down hole gyro.
		•Drill hole collars are located respective to the local mine grid and to the overall
		property in UTM MGA94-Zone51. Mine grid north is 44° west of north
		Australian Map Grid, and all mining Mineral Resource and Ore Reserve work is
		carried out in Mine Grid. Reduced Level (RL) for surface drilling is calculated
		by adding 1,000 m to surface elevation, while the underground RL is calculated
		by taking the surface RL minus the vertical depth to the point being referenced.
		•The Pedersen Mineral Resource daylights into the open pit void and the open
		pit was surveyed at end of mining by licensed mine surveyors. The natural
		topographic surface is very flat with minor undulations. Underground voids are
		surveyed by mine surveyors. The control on these topographies and voids is
		considered adequate.
Data spacing	• Data spacing for reporting of Exploration Results.	•Drill hole spacing at Pedersen ranges from 20 m(gN) by 20 m (gE) to 40 m(gN)
and	• Whether the data spacing and distribution is sufficient to establish the	by 40 m (gE)
distribution	degree of geological and grade continuity appropriate for the Mineral	•The Competent Person considers the data spacing to be sufficient to establish
	Resource and Ore Reserve estimation procedure(s) and classifications	the degree of geological and grade continuity appropriate for the Mineral
	applied.	Resource classification categories adopted for Pedersen.
	• Whether sample compositing has been applied.	•Samples were not composited prior to dispatch for analyses.
Orientation of	• _Whether the orientation of sampling achieves unbiased sampling of _	•Pedersen was drilled by a combinationofsurface and undergroundholes. The

Criteria	JORC Code explanation	Commentary
data in relation	possible structures and the extent to which this is known, considering the	surface holes were orientated to penetrate the host unit as orthogonally as
to geological	deposit type.	possible, however underground drilling is confined to drill cuddies and the
structure	• If the relationship between the drilling orientation and the orientation of	orientation of exploration holes is often oblique to the mineralisation.
	key mineralised structures is considered to have introduced a sampling	•Resultant sampling bias is usually retained in the drill database and any
	bias, this should be assessed and reported if material.	potential impact upon the Mineral Resource was not assessed. The Competent
		Person does not believe any potential impacts to be material in terms of grade
		interpolation.
Sample	• The measures taken to ensure sample security.	•Although security in not strongly enforced, Darlot is a remote site and the
security		number of outside visitors is small. The deposit is known to contain visible gold
		and this renders the core susceptible to theft, however the risk of sample
		tampering is considered low.
		•ALS Kalgoorlie organise transport companies to pick up bagged samples from
		a secured locality at the mine site. These are then transported to the laboratory
		facility for further preparation and assaying. All samples received by the
		laboratory are physically checked against the despatch order and Darlot is
		notified of any discrepancies prior to sample preparation commencing. No Red
		5 personnel are involved in the preparation or analysis process.
Audits or	• The results of any audits or reviews of sampling techniques and data.	•A series of written standard procedures exists for sampling and core cutting at
reviews		Darlot. Periodic routine visits to drill rigs and the core farm are carried out by
		project geologists and Senior Geologists / Superintendents to review core
		logging and sampling practices.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral	• Type, reference name/number, location and ownership including	•Pedersen is covered by mining lease M37/155 and held by Darlot Mining
tenement and	agreements or material issues with third parties such as joint ventures,	Company Limited. This lease covers 1,000Ha and was granted on 18/7/1988,
land tenure	partnerships, overriding royalties, native title interests, historical sites,	renewed 17/7/2009 and to be renewed on 17/7/2030. Current rental has been
status	wilderness or national park and environmental settings.	paid ($17,600) and minimum annual expenditure of $100,000 is required, and
	• The security of the tenure held at the time of reporting along with any	is being met. There are no Joint Ventures over the tenure and no native title
	known impediments to obtaining a licence to operate in the area.	claims. There are no other agreements in place apart from a 2.5% royalty for all
		gold sold, payable to the Government of Western Australia.
Exploration	• Acknowledgment and appraisal of exploration by other parties.	•Pedersen is part of the Darlot Gold Mine, which has a long history of gold
done by other		mining and exploration. Alluvial gold was first mined in the area in 1894 with a
parties		consequent gold rush between 1895 and 1913. Total gold production from this
		time is unknown. Limited gold production occurred between 1935 and 1980.
		•Modern exploration of Darlot commenced in the period in the 1970’s, with
		intensive exploration by Sundowner Minerals NL during 1986 to 1988. Darlot
		open pit mining commenced in 1988, and Sundowner was acquired by Plutonic
		Resources in 1992, who continued open cut mining through to 1995.
		Underground mining commenced in 1995 and has continued to the present
		day. To the end of October 2017, the Darlot Gold Mine has produced 17 Mt @
		4.8 g/t Au for 2.7 Moz.
		•A total of 868 Diamond drill holes (73,000.58 m), 418 RCDD holes (RC collars
		with DD tails, 115,221.27 m), 699 RC holes (64,501.55 m) and 915 face
		samples (5,462.7 m) support the Mineral Resource, drilled since modern
		exploration commenced in 1988.
		•Pedersen was mined from 1988 to 1995 from an Open pit and has continued to
		be mined sporadically from 1995 to the present day from the Darlot
		Underground workings,
Geology	• Deposit type, geological setting and style of mineralisation.	•The Darlot lodes are considered to be part of an Archean hydrothermal fault-
		vein deposit with many similar characteristics with other deposits within the
		Yilgarn Craton, namely host rock type and nature of hydrothermal alteration;
		however, it is atypical in being relatively flat-lying rather than steeply dipping.
		Felsic porphyries and lamprophyre intrusions are encountered throughout the
		deposit. The major host for gold mineralisation is the Mount Pickering Dolerite.
		•In the Pedersen area the mineralisation crosses lithological boundaries and is
		present in the magnetic dolerite (MMD), within the adjacent areas of mixed
		dolerite and felsic porphyry (MD and FAP) and within the porphyritic dolerite.
		Non-mineralised and variably mineralised lamprophyres including the main
		regional lamprophyre and smaller lamprophyres subparallel to the Pedersen
		mineralisation or the regional trend.
		•The Darlot gold mineralisation is located about the Darlot Thrust and is
		associated with quartz veins and alteration haloes controlled by major D2 and
		D3 structures, secondary splays and cross-linking structures.

Criteria	JORC Code explanation	Commentary
Drill hole	• A summary of all information material to the understanding of the	•Drill hole information from Darlot drill programs were used to support the
Information	exploration results including a tabulation of the following information for	Mineral Resource estimate. The locations of drill samples, and the geological
	all Material drill holes:	logs of these samples were used to build the geological model, and with the
	`o` easting and northing of the drill hole collar	sample analyses, support the Mineral Resource estimate.
	`o` elevation or RL (Reduced Level – elevation above sea level in metres)
	of the drill hole collar
	`o` dip and azimuth of the hole
	`o` down hole length and interception depth
	`o` hole length.
	• If the exclusion of this information is justified on the basis that the
	information is not Material and this exclusion does not detract from the
	understanding of the report, the Competent Person should clearly explain
	why this is the case.
Data	• In reporting Exploration Results, weighting averaging techniques,	•Exploration results are not reported here, with all drill holes used to support the
aggregation	maximum and/or minimum grade truncations (eg cutting of high grades)	Mineral Resource estimate. Sludge samples are recorded in the drill hole
methods	and cut-off grades are usually Material and should be stated.	database but were not used in the Mineral Resource estimate due insufficient
	• Where aggregate intercepts incorporate short lengths of high grade	reliability of sampling methods.
	results and longer lengths of low grade results, the procedure used for
	such aggregation should be stated and some typical examples of such
	aggregations should be shown in detail.
	• The assumptions used for any reporting of metal equivalent values
	should be clearly stated.
Relationship between mineralisation widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	•From mapping and diamond drilling, mineralisation appear to be dipping approximately 20 degrees. Drillholes are angled to drill as close to perpendicular to mineralisation as possible, although this is difficult when drilling from underground locations, targeting lode positions along strike from the drill cuddy. •Intercepts reported are downhole length, and true width can generally be calculated because the dip of the lode is known.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts	•Isometric view representing the Darlot deposit (including the Pederson
	should be included for any significant discovery being reported These	Resource) is shown in announcement.
	should include, but not be limited to a plan view of drill hole collar
	locations and appropriate sectional views.
Balanced	• Where comprehensive reporting of all Exploration Results is not	•Exploration results are not reported here, with all drill holes used to support the
reporting	practicable, representative reporting of both low and high grades and/or	Mineral Resource estimate.
	widths should be practiced to avoid misleading reporting of Exploration
	Results.
Other	• Other exploration data, if meaningful and material, should be reported	•Pedersen is part of the Darlot Gold Mine, and the lodes were geologically
substantive	including (but not limited to): geological observations; geophysical survey	mapped at both open cut and underground exposures. The geological mapping
exploration	results; geochemical survey results; bulk samples – size and method of	provided a foundation for the interpretation of the geological models.
data	treatment; metallurgical test results; bulk density, groundwater,	•Metallurgical testwork carried out in 2010 demonstrates a recovery of 94%
	geotechnical and rock characteristics; potential deleterious or	achievable from Pedersen ore samples.
	contaminating substances.	•Bulk density testwork is discussed in Section 3 of this table.

Criteria	JORC Code explanation	Commentary
Further work	• The nature and scale of planned further work (eg tests for lateral	•Down dip extremities of the Mineral Resource have not been mined due to the
	extensions or depth extensions or large-scale step-out drilling).	thinner widths of the lodes, but may be included in future Ore Reserve
	• Diagrams clearly highlighting the areas of possible extensions, including	inventories.
	the main geological interpretations and future drilling areas, provided this	•The Pedersen lodes die out once they reach the El Dorado Fault, and there is
	information is not commercially sensitive.	believed to be limited potential down dip for further mineralisation. There is
		potential for strike extension although this has not been tested, and there are
		no current plans for this evaluation.

Section 3 Estimation and Reporting of Mineral Resources

(Criteria listed in section 1, and where relevant in section 2, also apply to this section.)

Criteria	JORC Code explanation	Commentary
Database	• Measures taken to ensure that data has not been corrupted by, for	•Data is entered directly into the data capture system in the field, and reviewed
integrity	example, transcription or keying errors, between its initial collection and	by a geologist before being imported to the main database. Geological Logging
	its use for Mineral Resource estimation purposes.	at Darlot is collected by geologists and entered directly into an Acquire
	• Data validation procedures used.	Database on a laptop computer. Logging is regularly checked by a senior
		company geologist to ensure the veracity and consistency of the data.
		•Logs cannot be finalised if key fields are missing, nor can codes not existing in
		the library be entered, ensuring continuity of data, and reducing data entry and
		transcription errors.
		•Once in the main database, only the database administrators can edit or
		change data, and all changes are logged by the system.
Site visits	• Comment on any site visits undertaken by the Competent Person and the	•The Competent Person(s) (CP) are based on site at Darlot and are familiar with
	outcome of those visits.	the geological setting of the deposit, sampling protocols, quality control and
	• If no site visits have been undertaken indicate why this is the case.	quality assurance (QA/QC) of sample data, resource modelling procedures,
		current site procedures and policies, and are confident that all data collected is
		verifiable and has been collected in line with industry best practices to support
		a Mineral Resource Estimate.
Geological	• Confidence in (or conversely, the uncertainty of ) the geological	•The Darlot Gold mineralisation is associated mainly with the Darlot Thrust and
interpretation	interpretation of the mineral deposit.	associated quartz veins and alteration haloes controlled by major D2 and D3
	• Nature of the data used and of any assumptions made.	structures or secondary splays and cross linking structures. The Darlot
	• The effect, if any, of alternative interpretations on Mineral Resource	mineralisation is hosted by magnetic dolerite and magnetic quartz (porphyritic)
	estimation.	dolerite rock types and, to a lesser extent, by non-magnetic dolerite and felsic
	• The use of geology in guiding and controlling Mineral Resource	volcano-sedimentary rock types. Lamprophyre intrusions are present in the
	estimation.	area with a variety of orientations. In most cases the lamprophyres are thought
	• The factors affecting continuity both of grade and geology.	to be pre-mineralisation but are an un-favorable host rock for mineralisation and in most cases are barren.
		•The Darlot Thrust and associated major quartz bearing structures typically dip
		at around 20°to the SE, with associated hanging-wall veins that dip between 0°
		and 20°to NW. The mining history at Darlot and associated reconciliations has
		proven the veracity of this model.
		•The sample data for the Pedersen includes diamond drilling (DD), reverse
		circulation (RC) with DD tail and RC only. Underground face samples taken by
		mine geologists were also included. Some holes were excluded due to
		erroneous collar and down-hole surveys and a default grade of 0.005g/t was
		assigned where the gold grade was absent. The interpretations supporting the
		geological models are predominantly based upon drill hole samples and also
		the mapping done by competent mining geologists in the Darlot pit and
		underground workings.
		•All geological interpretations for Pedersen are prepared in Darlot Mine Grid.
		•The Pedersen deposit has been continuously mined since 1988 and alternative
		interpretationshavenot beenconsidered as the geologicalcontrols are

Criteria	JORC Code explanation	Commentary
		generally well understood.
		•The Pedersen Deposit is sub-divided into seventeen mineralised domains
		based on geology and structure, with the moderately dipping fault hosted
		domains such as the Darlot thrust and Hurst areas separated from the flatter
		wing vein hosted mineralisation, such as the Pedersen hanging-wall lodes.
		Those domains with similar characteristics were grouped geo-statistically.
		•The site geologists prepared the interpretations of the mineralised lodes within
		these seventeen domains; with 75 individual lode wireframes produced.
		•The grade in the Pedersen deposit is controlled by both structure and host
		lithology, in that typically the best grades are hosted by the Magnetic Dolerite
		and Felsic intrusions, with comparatively lesser grades observed in the other
		host rocks such as the non-magnetic dolerite. Consequently host lithology for
		lodes was a key factor considered for the estimate.
Dimensions	• The extent and variability of the Mineral Resource expressed as length	•The deposit has an overall strike length of about 1,500m and a width of about
	(along strike or otherwise), plan width, and depth below surface to the	850 m and extends from just below the natural surface to a depth of about 450
	upper and lower limits of the Mineral Resource.	m.
Estimation and	• The nature and appropriateness of the estimation technique(s) applied	•As previously noted, the Mineral Resource estimate has been divided into
modelling	and key assumptions, including treatment of extreme grade values,	seventeen (17) domains for the purpose of resource estimation. The model was
techniques	domaining, interpolation parameters and maximum distance of	constructed with manual wireframing in both Vulcan and Datamine software.
	extrapolation from data points. If a computer assisted estimation method	•The 75 wireframes mentioned above were imported directly into Datamine for
	was chosen include a description of computer software and parameters	grade estimation and resource reporting.
	used.	•Datamine was used for block modelling, grade interpolation, and Mineral
	• The availability of check estimates, previous estimates and/or mine	Resource classification and reporting. Snowden Supervisor was used for
	production records and whether the Mineral Resource estimate takes	geostatistical analyses. The Au domain interpretations were based upon both
	appropriate account of such data.	geology and grade.
	• The assumptions made regarding recovery of by-products.	•Given the crenulated nature of some of the Pedersen lodes, several of the
	• Estimation of deleterious elements or other non-grade variables of	domains were flattened, meaning all composites and blocks are transformed to
	economic significance (eg sulphur for acid mine drainage	a single RL and estimated in 2D space, and then re-transformed back into 3D
	characterisation).	space. Only the elevation is adjusted while the X and Y coordinates remain the
	• In the case of block model interpolation, the block size in relation to the	same.
	average sample spacing and the search employed.	•The interpreted mineralisation wireframes encompass broad areas, with gold
	• Any assumptions behind modelling of selective mining units.	grades that vary from poorly mineralised through to significantly mineralised
	• Any assumptions about correlation between variables.	within each domain. To improve definition of higher grades within the
	• Description of how the geological interpretation was used to control the	mineralised domains an indicator estimation method, based on ≥ 1.12 g/t Au
	resource estimates.	and ≥ 3.25 g/t Au composited drill hole grade thresholds, was applied. The two
	• Discussion of basis for using or not using grade cutting or capping. • The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available.	thresholds are selected to identify areas of lower grade gold mineralisation from the high grade gold mineralisation and the threshold of 3 g/t Au is intentionally below the Mineral Resource reporting cut-off and the Ore Reserves reporting cut-off.
		•Significant amounts of lamprophyre which are generally barren cross-cut some
		of the lodes, some of the larger ones were wire-framed by the site geologists,
		while a categorical estimation technique was applied to model out the less
		continuous dykes, based on an indicator kriging technique. These areas are
		then flagged as waste in the final model.

Criteria	JORC Code explanation	Commentary
		•The Pedersen lodes have been mined since 1988 and historical mine to mill
		reconciliations have proven the veracity of the model. No check estimates are
		known to have been completed.
		•No significant amounts of deleterious elements have historically been
		encountered or estimated in the Pedersen deposit, and hence have never been
		considered for estimation in the Mineral Resource. Pyrite does not occur in
		significant enough quantities to be considered for acid mine drainage (AMD)
		considerations.
		•All of the Pedersen lodes are entirely in fresh rock in this Mineral Resource
		Estimate.
		•All lodes were sub-celled to 1x1x1m block sizes with a nominal parent cell size
		of 10x10x5m. In grade control areas this was reduced to 5m (X) x 5m (Y) x 5m
		(Z), to more accurately represent the closer spaced drilling. Typical drill
		spacing in Pedersen ranges up to +40x40m, and is reduced to around 15 x 15
		m in the grade control areas. The table below summarizes the search
		parameters used.
		•All gold grades were estimated using Ordinary Kriging (OK), Simple Kriging
		(SK) and Inverse Distance Squared (IDS) as a comparative for validation
		purposes. IDS estimated grades have not been reported. The OK estimated
		grades were applied to the Indicated resource blocks only while the Inferred
		resource blocks and unclassified blocks were assigned the SK estimated
		grade.
		•Samples were composited to 1 m intervals.
		•A variety of top cuts were applied to the composites of up to 40g/t; dependent
		on the statistics for each domain. This was based on assessment of outliers
		and histogram skewness.
		•Pedersen is primarily a gold deposit and other elements have not been
		considered for analysis.
		•The estimates were validated in three ways, by on-screen visual assessments,
		declustered sample mean grades vs. block mean grades for each domain and
		swath plots.
Moisture	• Whether the tonnages are estimated on a dry basis or with natural	•Tonnages are estimated on a dry basis
	moisture, and the method of determination of the moisture content.
Cut-off	• The basis of the adopted cut-off grade(s) or quality parameters applied.	•All geological interpretations were completed by site geologists based on both
parameters		grade and lithology, and an approximate lower cut-off of around 0.5g/t.
Mining factors	• Assumptions made regarding possible mining methods, minimum mining	•Domains were modelled to a minimum 1 m plan width.
or	dimensions and internal (or, if applicable, external) mining dilution. It is

Criteria	JORC Code explanation	Commentary
assumptions	always necessary as part of the process of determining reasonable
	prospects for eventual economic extraction to consider potential mining
	methods, but the assumptions made regarding mining methods and
	parameters when estimating Mineral Resources may not always be
	rigorous. Where this is the case, this should be reported with an
	explanation of the basis of the mining assumptions made.
Metallurgical	• The basis for assumptions or predictions regarding metallurgical	•During the mining history of the Pedersen lodes the mill at Darlot has generally
factors or	amenability. It is always necessary as part of the process of determining	achieved >93-95% recoveries with a significant portion of the gold also
assumptions	reasonable prospects for eventual economic extraction to consider	captured by a gravity circuit.
	potential metallurgical methods, but the assumptions regarding	•The CP is not aware of any specific metallurgical test-work for these orebodies.
	metallurgical treatment processes and parameters made when reporting
	Mineral Resources may not always be rigorous. Where this is the case,
	this should be reported with an explanation of the basis of the
	metallurgical assumptions made.
Environmen-	• Assumptions made regarding possible waste and process residue	•Darlot has had an extensive mining history and as such has full infrastructure
tal factors or	disposal options. It is always necessary as part of the process of	for the treatment of processing and mining residues.
assumptions	determining reasonable prospects for eventual economic extraction to	•Darlot is certified as ISO14001 compliant for environmental management and is
	consider the potential environmental impacts of the mining and	also certified for International Cyanide Management Code.
	processing operation. While at this stage the determination of potential
	environmental impacts, particularly for a greenfields project, may not
	always be well advanced, the status of early consideration of these
	potential environmental impacts should be reported. Where these
	aspects have not been considered this should be reported with an
	explanation of the environmental assumptions made.
Bulk density	• Whether assumed or determined. If assumed, the basis for the	•A dry (in situ) bulk density of 2.90 t/m3has been used for all lithologies. This
	assumptions. If determined, the method used, whether wet or dry, the	value has been historically assigned for the Darlot project area. The Pedersen
	frequency of the measurements, the nature, size and representativeness	Mineral Resource Estimate does not include any material above the top of
	of the samples.	fresh rock.
	• The bulk density for bulk material must have been measured by methods	•Data is available for bulk density determinations and is recorded in Red 5
	that adequately account for void spaces (vugs, porosity, etc), moisture	Limited’s database, and was assessed by previous operators of the Darlot Gold
	and differences between rock and alteration zones within the deposit.	Mine. This CP is satisfied that the value used is verifiable and typical given their
	• Discuss assumptions for bulk density estimates used in the evaluation	knowledge and experience in similar deposits in the Eastern Goldfields.
	process of the different materials.	•All the bulk density records that have been sighted were determined by the
		Archimedes method of immersion in water, with no wax coating required as
		porosity is not an issue in Darlot host rocks. These samples are considered
		representative of the lodes and waste zones.
Classification	• The basis for the classification of the Mineral Resources into varying	•The Mineral Resource is classified as Indicated and Inferred.
	confidence categories.	•The geological evidence for mineralisation occurrence and continuity was
	• Whether appropriate account has been taken of all relevant factors (ie	observed in drill samples and significant underground workings on the
	relative confidence in tonnage/grade estimations, reliability of input data,	Pedersen lodes. For classification of Indicated a drill spacing of <40 x 40 m
	confidence in continuity of geology and metal values, quality, quantity and	was required, for classification of Inferred; < 60 x 60 m was required. Any
	distribution of the data).	blocks outside these parameters were unclassified. Drill sampling and
	• Whether the result appropriately reflects the Competent Person’s view of	analytical techniques for DD and RC drilling as well as face sampling are well
	the deposit.	documented by Red 5 Limited, as well as rigorous QAQC protocols and
		documentation to support an Indicated Resource Classification where

Criteria	JORC Code explanation	Commentary
		geological confidence allows.
		•The classification of the Mineral Resource took into account the geological
		understanding of the deposit, quality of the samples, quality and quantity of
		density data, drill hole spacing, and the quality of the block grade estimates.
		Geological understanding and quality of samples is sufficient to assume
		geological and grade continuity in the Indicated volumes.
		•All relevant factors have been taken into account when determining the
		resource classification for Pedersen deposit, and the results are deemed by the
		CP to be fair and relevant.
Audits or	• The results of any audits or reviews of Mineral Resource estimates.	•The Mineral Resource Estimate was peer reviewed internally by Goldfields
reviews		Australia, and also by OPTIRO consultants.
Discussion of	• Where appropriate a statement of the relative accuracy and confidence	•The Mineral Resource estimate is considered a global resource for both
relative	level in the Mineral Resource estimate using an approach or procedure	Indicated and Inferred Resource estimations.
accuracy/	deemed appropriate by the Competent Person. For example, the	•The CP is comfortable that more than 20 years of mining and reconciliation
confidence	application of statistical or geostatistical procedures to quantify the	data is deemed sufficient to verify the veracity of the estimate.
	relative accuracy of the resource within stated confidence limits, or, if	•Fully surveyed voids have been used to deplete the model of already mined
	such an approach is not deemed appropriate, a qualitative discussion of	material.
	the factors that could affect the relative accuracy and confidence of the
	estimate.
	• The statement should specify whether it relates to global or local
	estimates, and, if local, state the relevant tonnages, which should be
	relevant to technical and economic evaluation. Documentation should
	include assumptions made and the procedures used.
	• These statements of relative accuracy and confidence of the estimate
	should be compared with production data, where available.

JORC Code, 2012 Edition – Table 1 for the Lords South Lower Resource – Part of the Darlot Deposit Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling	• Nature and quality of sampling (eg cut channels, random chips, or	•Reverse circulation (RC), diamond core (DD) drilling provided pulverised chips
techniques	specific specialised industry standard measurement tools appropriate to	and competent lengths of core samples. Face sampling was converted to
	the minerals under investigation, such as down hole gamma sondes, or	dummy drill holes and included in the database. Drill hole data supporting the
	handheld XRF instruments, etc). These examples should not be taken as	Mineral Resource contains 991 unique drill hole IDs for a total sample length of
	limiting the broad meaning of sampling.	85,706 m. Sludge samples were excluded from the drill hole data files due to
	• Include reference to measures taken to ensure sample representivity and	lack of quality assurance regarding sampling.
	the appropriate calibration of any measurement tools or systems used.	•A total of 499 Diamond drill holes (82,809.98 m), including 6 RCDD holes, and
	• Aspects of the determination of mineralisation that are Material to the	492 face samples (2,896.02 m) support the Mineral Resource.
	Public Report.	•Diamond core is predominantly NQ2 with some HQ and was cleaned, laid out,
	• In cases where ‘industry standard’ work has been done this would be	measured and logged in its entirety. Core is marked up with a maximum core
	relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m	length of 1 m, depending on core size. Some core is whole sampled (full core
	samples from which 3 kg was pulverised to produce a 30 g charge for fire	collection) when necessary, but most core is half cut core. Digital photographs
	assay’). In other cases more explanation may be required, such as where	are taken and stored for reference purposes. Where possible core is cut in half
	there is coarse gold that has inherent sampling problems. Unusual	with one half only being submitted for analysis at the Laboratory, with the other
	commodities or mineralisation types (eg submarine nodules) may warrant	half is stored in the core farm for reference.
	disclosure of detailed information.
Drilling	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air	•The sample data for the Lords South Lower (LSL) area includes diamond
techniques	blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or	drilling (DD), underground face samples (FACE), and reverse circulation holes
	standard tube, depth of diamond tails, face-sampling bit or other type,	with diamond core tails (RCDD). Only the diamond core samples from RCDD
	whether core is oriented and if so, by what method, etc).	holes were used in the LSL Mineral Resource. The data was collected during
		2014 (year of discovery of LSL) to present.
		•Underground DDH is usually NQ2 or LTK60.
		•Underground face sampling was carried out by the mine geologist painting a
		sample line orthogonal to the dip of the quartz veining, and sampled according
		to geological intervals. Samples were bagged and ticketed with unique sample
		IDs, and dispatched to the assay laboratory.
Drill sample	• Method of recording and assessing core and chip sample recoveries and	•Drill sample recoveries are recorded for each sample number and stored in the
recovery	results assessed.	Acquire database. Diamond core samples were geotechnically logged and
	• Measures taken to maximise sample recovery and ensure representative	sample recoveries calculated. Most drill samples penetrating mineralisation are
	nature of the samples.	diamond core.
	• Whether a relationship exists between sample recovery and grade and	•Core recovery factors for core drilling are generally very high typically in excess
	whether sample bias may have occurred due to preferential loss/gain of	of 95% recovery. Some loss occurs locally when drilling through fault/shear
	fine/coarse material.	zones. Face sampling, by its nature, can be a biased sampling method, relying
		on manual ‘picking’ of the face by either a geological hammer, or by a Jumbo
		scraping sample material off the face and collected by the mine geologist. Face
		sampling can be regarded as having 100% sample recovery, however the
		Competent Person is cognisant of sampling bias. The use of face samples in
		grade estimation is provided in Section 3.

Criteria	JORC Code explanation	Commentary
		•The supervising geologist monitored the diamond core recoveries and
		discussed any shortcoming with the driller. Recoveries are generally very good
		however.
Logging	• Whether core and chip samples have been geologically and	•A geologist was present at all times during drilling and sampling. Geological
	geotechnically logged to a level of detail to support appropriate Mineral	logging protocols at the time of drilling were followed to ensure consistency in
	Resource estimation, mining studies and metallurgical studies.	drill logs between the geological staff.
	• Whether logging is qualitative or quantitative in nature. Core (or costean,	•Diamond core were logged for lithology, structure, stratigraphy, mineralisation,
	channel, etc) photography.	alteration, geophysical (magnetic properties) and geochemical properties
	• The total length and percentage of the relevant intersections logged.	(multi-element assays) and physical measurements (rock hardness,
		geotechnical RQD's, density, acid rock drainage (ARD)).
		•The full sample lengths were logged. Core was photographed (mostly wet).
Sub-sampling	• If core, whether cut or sawn and whether quarter, half or all core taken.	•DDH core sample lengths can be variable in a mineralized zone, though usually
techniques	• If non-core, whether riffled, tube sampled, rotary split, etc and whether	no larger than one-metre. This enables the capture of assay data for narrow
and sample	sampled wet or dry.	structures and localized grade variations.
preparation	• For all sample types, the nature, quality and appropriateness of the	•Grade control drill holes are sampled as whole core. DDH samples are taken
	sample preparation technique.	according to a cut sheet compiled by the geologist. Half or full core samples are
	• Quality control procedures adopted for all sub-sampling stages to	bagged in pre-numbered calico bags and submitted with a sample submission
	maximise representivity of samples.	form.
	• Measures taken to ensure that the sampling is representative of the in	•DDH core is cut by a Geotech field assistant.
	situ material collected, including for instance results for field	•The sampling protocols for both DD and Face are considered appropriate for
	duplicate/second-half sampling.	the style of mineralisation.
	• Whether sample sizes are appropriate to the grain size of the material	•A summary of the sample preparation process is as below:
	being sampled.	`o`Oven dried at 105ºC.
		`o`Jaw crushed to -12 mm.
		`o`If sample >3kg, Boyd crusher to 3 mm, and riffle split to <3kg.
		`o`Pulverised in LM5.
		`o`250-300 g pulp sample taken.
		`o`Remainder of pulp returned to calico sample bag.
		•Quality Control (QC) samples are inserted at a rate of 1 in 20. All standards
		used are Certified Reference Materials (CRM). The insertion of blanks is under
		the control of the geologist and CRMs are usually inserted one per batch.
		•Sample sizes are considered appropriate to the grain size of the material being
		sampled.
Quality of	• The nature, quality and appropriateness of the assaying and laboratory	•Primary assaying of face samples and DD samples has been undertaken by
assay data	procedures used and whether the technique is considered partial or total.	ALS Kalgoorlie for considerable time. Documentation regarding more historical
and laboratory	• For geophysical tools, spectrometers, handheld XRF instruments, etc, the	holes and their sample analyses are not well documented. Analysis is by 50g
tests	parameters used in determining the analysis including instrument make	fire assay (FA) with Atomic Absorption Spectrometer (AAS) finish to 0.01 g/t
	and model, reading times, calibrations factors applied and their	detection limit. Given the occurrence of coarse gold, Screen Fire Assays (SFA)
	derivation, etc.	checks are periodically undertaken.
	• Nature of quality control procedures adopted (eg standards, blanks,	•The processes are considered total.
	duplicates, external laboratory checks) and whether acceptable levels of	•Previous operators employed a comprehensive QA/QC regime with CRMs,
	accuracy (ie lack of bias) and precision have been established.	blanks, quartz flush checks and grind checks routinely monitored. Coarse
		duplicatesfromcrush residue, and pulp duplicatesfrompulpresidueswere

Criteria	JORC Code explanation	Commentary
		regularly monitored to test the quality of sub sampling stages. Results are
		documented on a quarterly basis, with any failures or irregularities investigated
		and actions taken to correct the issue. Regular communications were had with
		ALS.
		•Umpire analyses were undertaken at Independent Assay Laboratories (IAL) for
		selected samples comprising a 100 sample batch. Results show a reasonable
		correlation with the original samples, with differences largely attributable to
		nugget effects.
		•Acceptable levels of accuracy and precision were established prior to accepting
		the sample data as support for the Mineral Resource estimate.
		•The QAQC procedures and results show acceptable levels of accuracy and
		precision were established.
Verification of	• The verification of significant intersections by either independent or	•Intersections with significant Au grade are not unknown. Visible Au is
sampling and	alternative company personnel.	sometimes observed. If core samples with significant intersections are logged
assaying	• The use of twinned holes.	then alternative geological personnel are likely to review and confirm the
	• Documentation of primary data, data entry procedures, data verification,	results.
	data storage (physical and electronic) protocols.	•No twin drilling has occurred at LSL.
	• Discuss any adjustment to assay data.	•All data at Darlot is stored in an SQL relational database format using acQuire
		software. acQuire enables definition of tasks, permission management and
		database integrity. The SQL Server database is configured for optimal
		validation through constraints, library tables and triggers. Data that fails these
		rules on import is rejected and not ranked as a priority to be used for exports or
		any data applications.
		•All exploration data control is managed centrally, from drill-hole planning to final
		assay, survey and geological capture. The majority of logging data (lithology,
		alteration, and structural characteristics of core and percussion chips) is
		captured directly either by manual or to customised digital logging tools with
		stringent validation and data entry constraints. Geologists load data in the
		acquire database where initial validation of the data occurs. The data are
		uploaded into the database by the geologist after which ranking of the data
		happen based on multiple QAQC and validation rules.
		•All assay data is uploaded into the database in a text format known as a sif.
		These files include detailed information about the batch, methods, units,
		detection limits and elements assayed. The file also includes all QC data in the
		sequence of analysis. The assay data is stored in a flattened format to ensure
		all required information is stored for each sample, and that multiple assay
		results are stored for each sample.
		•Data validation is controlled via rules, library tables and triggers. Once all data
		for a drill-hole have been entered into the database, the geologist responsible
		for the drilling program validates each drill-hole. A standard validation trigger in
		the acquire database run queries against the data, which includes checks for
		incorrect collar locations, testing for overlapping, missing or incorrect down-
		hole surveys, and incorrect collar locations.
		•A digital certified assay certificate in Adobe PDF format is backed up on the
		Darlot server on a regular schedule. A copy of the database also resides on the

Criteria	JORC Code explanation	Commentary
		Red 5 back-up server in Perth.
		•The database is secure and password protected by the Database Administrator
		to prevent accidental or malicious adjustment to data.
		•No adjustments are made to the data.
Location of	• Accuracy and quality of surveys used to locate drill holes (collar and	•Collars are marked out pre-drilling and surveyed post-drilling by licensed
data points	down-hole surveys), trenches, mine workings and other locations used in	surveyors. All recent DD holes were surveyed down the hole by Reflex non-
	Mineral Resource estimation.	magnetic multi shot gyro survey. Down hole surveys are routinely undertaken
	• Specification of the grid system used.	by the drilling contractor and verified by the mine geologist.
	• Quality and adequacy of topographic control.	•Drill hole collars are located respective to the local mine grid and to the overall
		property in UTM MGA94-Zone51. Mine grid north is 44° west of north
		Australian Map Grid, and all mining Mineral Resource and Ore Reserve work is
		carried out in Mine Grid. Reduced Level (RL) for surface drilling is calculated by
		adding 1,000 m to surface elevation, while the underground RL is calculated by
		taking the surface RL minus the vertical depth to the point being referenced.
		•Underground voids are surveyed by mine surveyors. The survey control on
		these voids is considered adequate to support the depletion of the Mineral
		Resource model.
Data spacing	• Data spacing for reporting of Exploration Results.	•Typical drill spacing in LSL ranges up to 30x30m, which is reduced to around
and	• Whether the data spacing and distribution is sufficient to establish the	15x15m in the grade control areas.
distribution	degree of geological and grade continuity appropriate for the Mineral	•The Competent Person considers the data spacing to be sufficient to establish
	Resource and Ore Reserve estimation procedure(s) and classifications	the degree of geological and grade continuity appropriate for the Mineral
	applied.	Resource classification categories adopted for LSL.
	• Whether sample compositing has been applied.	•Samples were not composited prior to dispatch for analyses.
Orientation of	• Whether the orientation of sampling achieves unbiased sampling of	•LSL was drilled by a combination of underground diamond holes and face
data in relation	possible structures and the extent to which this is known, considering the	sampling, with each face sample trace assigned a drill hole collar ID.
to geological	deposit type.	Underground drilling is confined to drill cuddies and the orientation of
structure	• If the relationship between the drilling orientation and the orientation of	exploration holes is often oblique to the mineralisation. Face sampling traces
	key mineralised structures is considered to have introduced a sampling	are aligned orthogonal to the dip of the mineralisation, as exposed in the face,
	bias, this should be assessed and reported if material.	whenever possible.
		•Resultant sampling bias, particularly from face sampling, is usually retained in
		the drill database and any potential impact upon the Mineral Resource was not
		assessed. The Competent Person does not believe any potential impacts to be
		material in terms of grade interpolation.
Sample	• The measures taken to ensure sample security.	•Although security in not strongly enforced, Darlot is a remote site and the
security		number of outside visitors is small. The deposit is known to contain visible gold
		and this renders the core susceptible to theft, however the risk of sample
		tampering is considered low.
		•ALS Kalgoorlie organise transport companies to pick up bagged samples from
		a secured locality at the mine site. These are then transported to the laboratory
		facility for further preparation and assaying. All samples received by the
		laboratory are physically checked against the despatch order and Darlot is
		notified of any discrepancies prior to sample preparation commencing. No Red

Criteria	JORC Code explanation	Commentary
		5 personnel are involved in the preparation or analysis process.
Audits or	• The results of any audits or reviews of sampling techniques and data.	•A series of written standard procedures exists for sampling and core cutting at
reviews		Darlot. Periodic routine visits to drill rigs and the core farm are carried out by
		project geologists and Senior Geologists / Superintendents to review core
		logging and sampling practices. There were no adverse findings, and any minor
		deficiencies were noted and staff notified, with remedial training if required.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral	• Type, reference name/number, location and ownership including	•LSL is covered by mining lease M37/155 and held by Darlot Mining Company
tenement and	agreements or material issues with third parties such as joint ventures,	Limited. This lease covers 1,000Ha and was granted on 18/7/1988, renewed
land tenure	partnerships, overriding royalties, native title interests, historical sites,	17/7/2009 and to be renewed on 17/7/2030. Current rental has been paid
status	wilderness or national park and environmental settings.	($17,600) and minimum annual expenditure of $100,000 is required, and is
	• The security of the tenure held at the time of reporting along with any	being met. There are no Joint Ventures over the tenure and no native title
	known impediments to obtaining a licence to operate in the area.	claims. There are no other agreements in place apart from a 2.5% royalty for all
		gold sold, payable to the Government of Western Australia.
Exploration	• Acknowledgment and appraisal of exploration by other parties.	•LSL is part of the Darlot Gold Mine, which has a long history of gold mining and
done by other		exploration. Alluvial gold was first mined in the area in 1894 with a consequent
parties		gold rush between 1895 and 1913. Total gold production from this time is
		unknown. Limited gold production occurred between 1935 and 1980.
		•Modern exploration of Darlot commenced in the period in the 1970’s, with
		intensive exploration by Sundowner Minerals NL during 1986 to 1988. Darlot
		open pit mining commenced in 1988, and Sundowner was acquired by Plutonic
		Resources in 1992, who continued open cut mining through to 1995.
		Underground mining commenced in 1995 and has continued to the present
		day.
		•LSL was discovered in 2014, and underground development commenced in
		2015. Mining has continued to the present day.
		•To the end of October 2017, the Darlot Gold Mine has produced 17 Mt @ 4.8
		g/t Au for 2.7 MOz.
		•A total of 499 Diamond drill holes (82,809.98 m) (including 6 RCDD holes), and
		492 face samples (2,896.02 m) support the Mineral Resource.
		•3D seismic surveys were carried out in late 2016 to provide geophysical data in
		support of planned exploration programs down dip, although the seismic
		surveys do not support LSL as much as they do Centenary.
Geology	• Deposit type, geological setting and style of mineralisation.	•The Darlot lodes are considered to be part of an Archean hydrothermal fault-
		vein deposit with many similar characteristics with other deposits within the
		Yilgarn Craton, namely host rock type and nature of hydrothermal alteration;
		however, it is atypical in being relatively flat-lying rather than steeply dipping.
		Felsic porphyries and lamprophyre intrusions are encountered throughout the
		deposit. The major host for gold mineralisation is the Mount Pickering Dolerite.
		•The LSL deposit is located approximately 1.2 km east of the Darlot open pit
		and has been defined between 700 m and 960 m below the surface.
		•Gold mineralisation is associated with quartz veins and alteration haloes
		controlled by major D2 and D3 structures or secondary splays and cross linking
		structures. The quartz veins are hosted mainly by magnetic dolerite and
		magnetic quartz dolerite rock types and, to a lesser extent, by non-magnetic
		dolerite and felsic volcano-sedimentary rock types. Lamprophyre intrusions are
		present in the area with a variety of orientations. In most cases the

Criteria	JORC Code explanation	Commentary
		lamprophyres are thought to be pre-mineralisation but are an un-favorable host
		rock for mineralisation and in most cases are barren.
		•The wing veins associated with the mineralisation typically dip to the NW and
		SE at around 15° with the associated Lords, (Walters and SRCG) faults being
		mainly quartz filled structures dipping at around 40°. The mining history of LSL
		and associated reconciliations has proven the veracity of this model.
		•Mineralisation is hosted by a fractionated Dolerite sill within the greater Mt
		Pickering dolerite syncline, with silica+/-albite+/-carbonate+/-pyrite+/-gold being
		the key alteration components.
Drill hole	• A summary of all information material to the understanding of the	•Drill hole information from Darlot drill programs, predominantly diamond core
Information	exploration results including a tabulation of the following information for	and face sampling, were used to support the Mineral Resource estimate. The
	all Material drill holes:	locations of drill samples, and the geological logs of these samples were used
	`o` easting and northing of the drill hole collar	to build the geological model, and with the sample analyses, support the
	`o` elevation or RL (Reduced Level – elevation above sea level in metres)	Mineral Resource estimate.
	of the drill hole collar
	`o` dip and azimuth of the hole
	`o` down hole length and interception depth
	`o` hole length.
	• If the exclusion of this information is justified on the basis that the
	information is not Material and this exclusion does not detract from the
	understanding of the report, the Competent Person should clearly explain
	why this is the case.
Data	• In reporting Exploration Results, weighting averaging techniques,	•Exploration results are not reported here, with most drill holes and face
aggregation	maximum and/or minimum grade truncations (eg cutting of high grades)	samples used to support the Mineral Resource estimate. Sludge samples are
methods	and cut-off grades are usually Material and should be stated.	recorded in the drill hole database but were not used in the Mineral Resource
	• Where aggregate intercepts incorporate short lengths of high grade	estimate due insufficient reliability of sampling methods.
	results and longer lengths of low grade results, the procedure used for
	such aggregation should be stated and some typical examples of such
	aggregations should be shown in detail.
	• The assumptions used for any reporting of metal equivalent values
	should be clearly stated.
Relationship	• These relationships are particularly important in the reporting of	•From mapping and diamond drilling, mineralisation appear to be dipping
between	Exploration Results.	approximately 15° to the north west. Drillholes are angled to drill as close to
mineralisation	• If the geometry of the mineralisation with respect to the drill hole angle is	perpendicular to mineralisation as possible, although this is difficult when
widths and	known, its nature should be reported.	drilling from underground locations, targeting lode positions along strike from
intercept	• If it is not known and only the down hole lengths are reported, there	the drill cuddies.
lengths	should be a clear statement to this effect (eg ‘down hole length, true	•Intercepts reported are downhole length, and true width can generally be
	width not known’).	calculated because the dip of the lode is known.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts	•Isometric view representing the Darlot deposit (including Lord South Lower
	should be included for any significant discovery being reported These	Resource) is included in the body of this report.
	should include, but not be limited to a plan view of drill hole collar
	locations and appropriate sectional views.
Balanced	• Where comprehensive reporting of all Exploration Results is not	•Exploration results are not reported here, with all drill holes used to support the
	practicable, representative reporting of both low and high grades and/or

Criteria	JORC Code explanation	Commentary
reporting	widths should be practiced to avoid misleading reporting of Exploration	Mineral Resource estimate.
	Results.
Other	• Other exploration data, if meaningful and material, should be reported	•LSL is part of the Darlot Gold Mine, and the lodes were geologically mapped in
substantive	including (but not limited to): geological observations; geophysical survey	underground exposures. The geological mapping provided a foundation for the
exploration	results; geochemical survey results; bulk samples – size and method of	interpretation of the geological models.
data	treatment; metallurgical test results; bulk density, groundwater,	•Metallurgical testwork carried out in 2014 on a 55kg composited drill core
	geotechnical and rock characteristics; potential deleterious or	sample demonstrated a recovery of 95% for LSL ore.
	contaminating substances.	•Bulk density testwork is discussed in Section 3 of this table. Testwork on the sample discussed in the previous point resulted in a density of 2.92 t/m3,
		supporting the value of 2.9 assigned to the Mineral Resource model. Other
		samples were tested using the water immersion technique. Fresh core billets
		(not weathered) were not required to be wax coated prior to immersion.
Further work	• The nature and scale of planned further work (eg tests for lateral	•LSL is open along strike and down dip, with potential for additional gold
	extensions or depth extensions or large-scale step-out drilling).	mineralisation in these directions.
	• Diagrams clearly highlighting the areas of possible extensions, including	•Plans are currently being formulated for exploration drilling to test these targets.
	the main geological interpretations and future drilling areas, provided this
	information is not commercially sensitive.

Section 3 Estimation and Reporting of Mineral Resources

(Criteria listed in section 1, and where relevant in section 2, also apply to this section.)

Criteria	JORC Code explanation	Commentary
Database	• Measures taken to ensure that data has not been corrupted by, for	•Data is entered directly into the data capture system in the field and reviewed
integrity	example, transcription or keying errors, between its initial collection and	by a geologist before being imported to the main database. Geological Logging
	its use for Mineral Resource estimation purposes.	at Darlot is collected by geologists and entered directly into an Acquire
	• Data validation procedures used.	Database on a laptop computer. Logging is regularly checked by a senior
		company geologist to ensure the veracity and consistency of the data.
		•Logs cannot be finalised if key fields are missing, nor can codes not existing in
		the library be entered, ensuring continuity of data, and reducing data entry and
		transcription errors.
		•Once in the main database, only the database administrators can edit or
		change data, and all changes are logged by the system.
Site visits	• Comment on any site visits undertaken by the Competent Person and the	•The Competent Person(s) (CP) are based on site at Darlot and are familiar with
	outcome of those visits.	the geological setting of the deposit, sampling protocols, quality control and
	• If no site visits have been undertaken indicate why this is the case.	quality assurance (QA/QC) of sample data, resource modelling procedures,
		current site procedures and policies, and are confident that all data collected is
		verifiable and has been collected in line with industry best practices to support
		a Mineral Resource Estimate.
Geological	• Confidence in (or conversely, the uncertainty of ) the geological	•Gold mineralisation is associated with quartz veins and alteration haloes
interpretation	interpretation of the mineral deposit.	controlled by major D2 and D3 structures or secondary splays and cross linking
	• Nature of the data used and of any assumptions made.	structures. The quartz veins are hosted mainly by magnetic dolerite and
	• The effect, if any, of alternative interpretations on Mineral Resource	magnetic quartz dolerite rock types and, to a lesser extent, by non-magnetic
	estimation.	dolerite and felsic volcano-sedimentary rock types. Lamprophyre intrusions are
	• The use of geology in guiding and controlling Mineral Resource	present in the area with a variety of orientations. In most cases the
	estimation.	lamprophyres are thought to be pre-mineralisation but are an un-favorable host
	• The factors affecting continuity both of grade and geology.	rock for mineralisation and in most cases are barren.
		•The wing veins associated with the mineralisation typically dip to the NW and
		SE at around 15°with the associated Lords, (Walters and SRCG) faults being
		mainly quartz filled structures dipping at around 40°. The mining history of
		Lords South Lower (LSL) and associated reconciliations has proven the
		veracity of this model.
		•The sample data for the LSL includes diamond drilling (DD) and reverse
		circulation (RC) with DD tail. Underground face samples taken by mine
		geologists were also included. Some holes were excluded due to erroneous
		collar and down-hole surveys and a default grade of 0.005g/t was assigned
		where the gold grade was absent. The interpretations supporting the
		geological models are predominantly based upon drill hole samples.
		•All geological interpretations for the LSL are prepared in Darlot Mine Grid.
		•The LSL Orebody has been continuously mined since 2015 and alternative
		interpretations have not been considered as the geological controls are
		generally well understood.
		•TheLSL Depositis sub-dividedinto six mineralised domains based ongeology

Criteria	JORC Code explanation	Commentary
		and structure, with the steeper fault hosted domains such as Walters, Lords
		and SRCG areas separated from the flatter wing vein hosted mineralisation
		such as the hanging-wall and foot-wall flat lodes. Those domains with similar
		characteristics were grouped geo-statistically.
		•The site geologists prepared the interpretations of the mineralised lodes within
		these six domains and the 100 lodes are modeled as individual wireframes.
		•The grade in the ore bodies is controlled by both structure and host lithology, in
		that typically the best grades are hosted by the Magnetic Dolerite and Felsic
		intrusions, with comparatively lesser grades observed in the other host rocks
		such as the non-magnetic dolerite. Consequently host lithology for lodes was a
		key factor considered for the estimate.
Dimensions	• The extent and variability of the Mineral Resource expressed as length	•The LSL deposit has an overall strike length of about 900 m and a width of
	(along strike or otherwise), plan width, and depth below surface to the	about 600 m and extends from about 700m to 960m below the natural surface.
	upper and lower limits of the Mineral Resource.
Estimation and modelling techniques	• The nature and appropriateness of the estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method was chosen include a description of computer software and parameters used.	•As previously noted, the Mineral Resource estimate has been divided into six (6) domains for the purpose of resource estimation. The model was constructed with manual wireframing in Vulcan software. •The 100 wireframes mentioned above were imported directly into Vulcan for grade estimation and resource reporting.
	• The availability of check estimates, previous estimates and/or mine	•Vulcan was used for block modelling, grade interpolation, and Mineral
	production records and whether the Mineral Resource estimate takes	Resource classification and reporting. Snowden Supervisor was used for
	appropriate account of such data.	geostatistical analyses. The Au domain interpretations were based upon both
	• The assumptions made regarding recovery of by-products.	geology and grade.
	• Estimation of deleterious elements or other non-grade variables of economic significance (eg sulphur for acid mine drainage characterisation). • In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed. • Any assumptions behind modelling of selective mining units. • Any assumptions about correlation between variables.	•The interpreted mineralisation for the Main Lords structure wireframe encompasses a broad area in parts, with gold grades that vary from poorly mineralised through to significantly mineralised within. To improve definition of the higher grades within the mineralised Lords domain an indicator estimation method, based on ≥ 1 g/t Au and ≥ 3 g/t Au composited drill hole grade thresholds, was applied. The two thresholds are selected to identify areas of lower grade gold mineralisation from the high grade gold mineralisation and the
	• Description of how the geological interpretation was used to control the	threshold of 3 g/t Au is intentionally below the Mineral Resource reporting cut-
	resource estimates.	off and the Ore Reserves reporting cut-off.
	• Discussion of basis for using or not using grade cutting or capping.	•Significant amounts of lamprophyre which are generally barren cross-cut some
	• The process of validation, the checking process used, the comparison of	of the lodes, some of the larger ones were wire-framed by the site geologists,
	model data to drill hole data, and use of reconciliation data if available.	while a categorical estimation technique was applied to model out the less
		continuous dykes, based on an indicator kriging technique. These areas are
		then flagged as waste in the final model.
		•The LSL lodes have been mined since 2015 and mostly positive mine to mill
		reconciliations have proven the veracity of the model. No check estimates are
		known to have been completed.
		•No significant amounts of deleterious elements have historically been
		encountered or estimated in the LSL deposit, and hence have never been
		considered for estimation in the Mineral Resource. Pyrite does not occur in

Criteria	JORC Code explanation	Commentary
		significant enough quantities to be considered for acid mine drainage (AMD)
		considerations.
		•All of the LSL lodes are entirely in fresh rock
		•All lodes were sub-celled to 1x1x1m block sizes with a nominal parent cell size
		of 5m(X) x5m(Y) x 5m(Z), to more accurately represent the closer spaced
		drilling. Typical drill spacing in LSL ranges up to 30x30m, which is reduced to
		around 15x15m in the grade control areas. The table below summarizes the
		search parameters used.
		•All gold grades were estimated using Ordinary Kriging and Simple Kriging. The
		OK estimated grades were applied to the Indicated resource blocks only while
		the Inferred resource blocks and unclassified blocks were assigned the SK
		estimated grade.
		•Samples were composited to 1 m intervals.
		•A variety of top cuts were applied to the composites of up to 70g/t; dependent
		on the statistics for each domain. This was based on assessment of outliers
		and histogram skewness.
		•LSL is primarily a gold deposit and other elements have not been considered
		for analysis.
		•The estimates were validated in three ways, by on-screen visual assessments,
		declustered sample mean grades vs. block mean grades for each domain and
		swath plots.
Moisture	• Whether the tonnages are estimated on a dry basis or with natural	•Tonnages are estimated on a dry basis.
	moisture, and the method of determination of the moisture content.
Cut-off	• The basis of the adopted cut-off grade(s) or quality parameters applied.	•All geological interpretations were completed by site geologists based on both
parameters		grade and lithology, and an approximate lower cut-off of around 0.5 g/t.
Mining factors	• Assumptions made regarding possible mining methods, minimum mining	•Domains were modelled to a minimum 1 m plan width.
or	dimensions and internal (or, if applicable, external) mining dilution. It is
assumptions	always necessary as part of the process of determining reasonable
	prospects for eventual economic extraction to consider potential mining
	methods, but the assumptions made regarding mining methods and
	parameters when estimating Mineral Resources may not always be
	rigorous. Where this is the case, this should be reported with an
	explanation of the basis of the mining assumptions made.
Metallurgical	• The basis for assumptions or predictions regarding metallurgical	•During the mining history of the LSL lodes the mill at Darlot has generally
factors or	amenability. It is always necessary as part of the process of determining	achieved >93-95% recoveries with a significant portion of the gold also
	reasonable prospects for eventual economic extraction to consider	captured by a gravity circuit.

Criteria	JORC Code explanation	Commentary
assumptions	potential metallurgical methods, but the assumptions regarding	•Metallurgical testwork carried out in 2014 on a 55kg composited drill core
	metallurgical treatment processes and parameters made when reporting	sample demonstrated a recovery of 95% for LSL ore.
	Mineral Resources may not always be rigorous. Where this is the case,
	this should be reported with an explanation of the basis of the
	metallurgical assumptions made.
Environmen-	• Assumptions made regarding possible waste and process residue	•Darlot has had an extensive mining history and as such has full infrastructure
tal factors or	disposal options. It is always necessary as part of the process of	for the treatment of processing and mining residues.
assumptions	determining reasonable prospects for eventual economic extraction to	•Darlot is certified as ISO14001 compliant for environmental management and is
	consider the potential environmental impacts of the mining and	also certified for International Cyanide Management Code.
	processing operation. While at this stage the determination of potential
	environmental impacts, particularly for a greenfields project, may not
	always be well advanced, the status of early consideration of these
	potential environmental impacts should be reported. Where these
	aspects have not been considered this should be reported with an
	explanation of the environmental assumptions made.
Bulk density	• Whether assumed or determined. If assumed, the basis for the	•A dry (in situ) bulk density of 2.90 t/m3 has been used for all lithologies. This
	assumptions. If determined, the method used, whether wet or dry, the	value has been historically assigned for the Darlot project area.
	frequency of the measurements, the nature, size and representativeness	•Metallurgical testwork (2014) on the sample discussed in Section 2 resulted in
	of the samples.	a density of 2.92 t/m3, supporting the value of 2.90 assigned to the Mineral
	• The bulk density for bulk material must have been measured by methods	Resource model.
	that adequately account for void spaces (vugs, porosity, etc), moisture	•Data is available for bulk density determinations and is recorded in Red 5
	and differences between rock and alteration zones within the deposit.	Limited’s database, and was assessed by previous operators of the Darlot Gold
	• Discuss assumptions for bulk density estimates used in the evaluation	Mine. The CP is satisfied that the value used is verifiable and typical given their
	process of the different materials.	knowledge and experience in similar deposits in the Eastern Goldfields of
		Western Australia.
		•All the bulk density records that have been sighted were determined by the
		Archimedes method of immersion in water, with no wax coating required as
		porosity is not an issue in Darlot host rocks. These samples are considered
		representative of the lodes and waste zones.
Classification	• The basis for the classification of the Mineral Resources into varying	•The Mineral Resource is classified as Indicated and Inferred.
	confidence categories.	•The geological evidence for mineralisation occurrence and continuity was
	• Whether appropriate account has been taken of all relevant factors (ie	observed in drill samples and significant underground workings on the LSL
	relative confidence in tonnage/grade estimations, reliability of input data,	lodes. For classification of Indicated; a drill spacing of <30 x 30 m was
	confidence in continuity of geology and metal values, quality, quantity and	required. For classification of Inferred; < 60 x 60 m. Any blocks outside these
	distribution of the data).	parameters were unclassified. Drill sampling and analytical techniques for DD
	• Whether the result appropriately reflects the Competent Person’s view of	and RC drilling as well as face sampling are well documented by Red 5
	the deposit.	Limited, as well as rigorous QAQC protocols and documentation to support an
		Indicated Resource Classification where geological confidence allows.
		•The classification of the Mineral Resource took into account the geological
		understanding of the deposit, quality of the samples, quality and quantity of
		density data, drill hole spacing, and the quality of the block grade estimates.
		Geological understanding and quality of samples is sufficient to assume
		geological and grade continuity in the Indicated volumes.
		•All relevant factors have been taken into account when determining the
		resource classification for LSL deposit, and the results are deemed by the CP

Criteria	JORC Code explanation	Commentary
		to be fair and relevant.
Audits or	• The results of any audits or reviews of Mineral Resource estimates.	•The Mineral Resource Estimate was peer reviewed internally by Goldfields
reviews		Australia.
Discussion of	• Where appropriate a statement of the relative accuracy and confidence	•The Mineral Resource estimate is considered a global resource for both
relative	level in the Mineral Resource estimate using an approach or procedure	Indicated and Inferred Resource estimations.
accuracy/	deemed appropriate by the Competent Person. For example, the	•The CP is comfortable that the 2 years LSL production records of mining and
confidence	application of statistical or geostatistical procedures to quantify the	reconciliation is sufficient to verify the veracity of the estimate.
	relative accuracy of the resource within stated confidence limits, or, if	•Fully surveyed voids have been used to deplete the model of already mined
	such an approach is not deemed appropriate, a qualitative discussion of	material.
	the factors that could affect the relative accuracy and confidence of the
	estimate.
	• The statement should specify whether it relates to global or local
	estimates, and, if local, state the relevant tonnages, which should be
	relevant to technical and economic evaluation. Documentation should
	include assumptions made and the procedures used.
	• These statements of relative accuracy and confidence of the estimate
	should be compared with production data, where available.

JORC Code, 2012 Edition – Table 1 for the CDA Oval Resource – Part of the Darlot Deposit

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling	• Nature and quality of sampling (eg cut channels, random chips, or	•Diamond core (DD) drilling provided pulverised chips and competent lengths of
techniques	specific specialised industry standard measurement tools appropriate to	core samples. Face sampling was converted to dummy drill holes and included
	the minerals under investigation, such as down hole gamma sondes, or	in the database. Drill hole data supporting the Mineral Resource contains 287
	handheld XRF instruments, etc). These examples should not be taken as	unique drill hole IDs for a total sample length of 55,477.76 m. Sludge samples
	limiting the broad meaning of sampling.	were excluded from the drill hole data files due to lack of quality assurance
	• Include reference to measures taken to ensure sample representivity and	regarding sampling.
	the appropriate calibration of any measurement tools or systems used.	•A total of 139 Diamond drill holes (54,704.42 m), (including 23 RCDD holes),
	• Aspects of the determination of mineralisation that are Material to the	and 148 face samples (773.34 m) support the Mineral Resource.
	Public Report.	•Diamond core is predominantly NQ2 with some HQ and was cleaned, laid out,
	• In cases where ‘industry standard’ work has been done this would be	measured and logged in its entirety. Core is marked up with a maximum core
	relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant	length of 1 m, depending on core size. Some core is whole sampled (full core collection) when necessary, but most core is half cut core. Digital photographs are taken and stored for reference purposes. Where possible core is cut in half with one half only being submitted for analysis at the Laboratory, with the other
	disclosure of detailed information.	half is stored in the core farm for reference.
Drilling	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air	•The sample data for the Centenary Depth Analogue Oval (CDA Oval) area
techniques	blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or	includes diamond drilling (DD), underground face samples (FACE), and
	standard tube, depth of diamond tails, face-sampling bit or other type,	reverse circulation holes with diamond core tails (RCDD). The data was
	whether core is oriented and if so, by what method, etc).	collected during 2015 to present.
		•Underground DDH is usually NQ2 or LTK60.
		•Underground face sampling was carried out by the mine geologist painting a
		sample line orthogonal to the dip of the quartz veining and sampled according
		to geological intervals. Samples were bagged and ticketed with unique sample
		IDs and dispatched to the assay laboratory.
Drill sample	• Method of recording and assessing core and chip sample recoveries and	•Drill sample recoveries are recorded for each sample number and stored in the
recovery	results assessed.	Acquire database. Diamond core samples were geotechnically logged and
	• Measures taken to maximise sample recovery and ensure representative	sample recoveries calculated. Most drill samples penetrating mineralisation are
	nature of the samples.	diamond core.
	• Whether a relationship exists between sample recovery and grade and	•Core recovery factors for core drilling are generally very high typically in excess
	whether sample bias may have occurred due to preferential loss/gain of	of 95% recovery. Some loss occurs locally when drilling through fault/shear
	fine/coarse material.	zones. Face sampling, by its nature, can be a biased sampling method, relying
		on manual ‘picking’ of the face by either a geological hammer, or by a Jumbo
		scraping sample material off the face and collected by the mine geologist. Face
		sampling can be regarded as having 100% sample recovery, however the
		Competent Person is cognisant of sampling bias. The use of face samples in
		grade estimation is provided in Section 3.

Criteria	JORC Code explanation	Commentary
		•Periodic reviews of early drilling assay results and bias may be done form time
		to time where required on historical prospects where new drilling is done. Q-Q
		Plots of the re-drills and original holes are correlated and any bias (positive /
		negative) identified. This is utilised in any future interpretations and modelling.
		•The supervising geologist monitored the diamond core recoveries and
		discussed any shortcoming with the driller. Recoveries are generally very good
		however.
Logging	• Whether core and chip samples have been geologically and	•A geologist was present at all times during drilling and sampling. Geological
	geotechnically logged to a level of detail to support appropriate Mineral	logging protocols at the time of drilling were followed to ensure consistency in
	Resource estimation, mining studies and metallurgical studies.	drill logs between the geological staff.
	• Whether logging is qualitative or quantitative in nature. Core (or costean,	•Diamond core were logged for lithology, structure, stratigraphy, mineralisation,
	channel, etc) photography.	alteration, geophysical (magnetic properties) and geochemical properties
	• The total length and percentage of the relevant intersections logged.	(multi-element assays) and physical measurements (rock hardness,
		geotechnical RQD's, density, acid rock drainage (ARD)).
		•The full sample lengths were logged. Core was photographed (mostly wet).
Sub-sampling	• If core, whether cut or sawn and whether quarter, half or all core taken.	•DD core sample lengths can be variable in a mineralized zone, though usually
techniques	• If non-core, whether riffled, tube sampled, rotary split, etc and whether	no larger than one-metre. This enables the capture of assay data for narrow
and sample	sampled wet or dry.	structures and localized grade variations.
preparation	• For all sample types, the nature, quality and appropriateness of the	•Grade control drill holes are sampled as whole core. DD samples are taken
	sample preparation technique.	according to a cut sheet compiled by the geologist. Half or full core samples
	• Quality control procedures adopted for all sub-sampling stages to	are bagged in pre-numbered calico bags and submitted with a sample
	maximise representivity of samples.	submission form.
	• Measures taken to ensure that the sampling is representative of the in	•DD core is cut by a getoech field assistant.
	situ material collected, including for instance results for field	•The sampling protocols for both DD and Face are considered appropriate for
	duplicate/second-half sampling.	the style of mineralisation.
	• Whether sample sizes are appropriate to the grain size of the material	• A summary of the sample preparation process is as below:
	being sampled.	`o` Oven dried at 105ºC.
		`o` Jaw crushed to -12 mm.
		`o` If sample >3kg, Boyd crusher to 3 mm, and riffle split to <3kg.
		`o` Pulverised in LM5.
		`o` 250-300 g pulp sample taken.
		`o` Remainder of pulp returned to calico sample bag.
		•Quality Control (QC) samples are inserted at a rate of 1 in 20. All standards
		used are Certified Reference Materials (CRM). The insertion of blanks is under
		the control of the geologist and CRMs are usually inserted one per batch.
		•Sample sizes are considered appropriate to the grain size of the material being
		sampled.
Quality of	• The nature, quality and appropriateness of the assaying and laboratory	•Primary assaying of face samples and DD samples has been undertaken by
assay data	procedures used and whether the technique is considered partial or total.	ALS Kalgoorlie for considerable time. Documentation regarding more historical
and laboratory	• For geophysical tools, spectrometers, handheld XRF instruments, etc, the	holes and their sample analyses are not well documented. Analysis is by 50g
tests	parameters used in determining the analysis including instrument make	fire assay (FA) with Atomic Absorption Spectrometer (AAS) finish to 0.01 g/t
	and model, reading times, calibrations factors applied and their	detection limit. Given the occurrence of coarse gold, Screen Fire Assays (SFA)
	derivation, etc.	checks areperiodicallyundertaken.

Criteria	JORC Code explanation	Commentary
	• Nature of quality control procedures adopted (eg standards, blanks,	•The processes are considered total.
	duplicates, external laboratory checks) and whether acceptable levels of	•Previous operators employed a comprehensive QA/QC regime with CRMs,
	accuracy (ie lack of bias) and precision have been established.	blanks, quartz flush checks and grind checks routinely monitored. Coarse
		duplicates from crush residue, and pulp duplicates from pulp residues were
		regularly monitored to test the quality of sub sampling stages. Results are
		documented on a quarterly basis, with any failures or irregularities investigated
		and actions taken to correct the issue. Regular communications were had with
		ALS.
		•Umpire analyses were undertaken at Independent Assay Laboratories (IAL) for
		selected samples comprising a 100 sample batch. Results show a reasonable
		correlation with the original samples, with differences largely attributable to
		nugget effects.
		•Acceptable levels of accuracy and precision were established prior to
		accepting the sample data as support for the Mineral Resource estimate.
		•The QAQC procedures and results show acceptable levels of accuracy and
		precision were established.
Verification of	• The verification of significant intersections by either independent or	•CDA Oval is a recently discovered deposit within Darlot Gold Mine, and
sampling and	alternative company personnel.	intersections with significant Au grade are not unknown. Visible Au is often
assaying	• The use of twinned holes.	observed. If core samples with significant intersections are logged then
	• Documentation of primary data, data entry procedures, data verification,	alternative geological personnel are likely to review and confirm the results.
	data storage (physical and electronic) protocols.	•No twin drilling has occurred at CDA Oval.
	• Discuss any adjustment to assay data.	•All data at Darlot is stored in an SQL relational database format using acQuire
		software. acQuire enables definition of tasks, permission management and
		database integrity. The SQL Server database is configured for optimal
		validation through constraints, library tables and triggers. Data that fails these
		rules on import is rejected and not ranked as a priority to be used for exports or
		any data applications.
		•All exploration data control is managed centrally, from drill-hole planning to
		final assay, survey and geological capture. The majority of logging data
		(lithology, alteration, and structural characteristics of core) is captured directly
		either by manual or to customised digital logging tools with stringent validation
		and data entry constraints. Geologists load data in the acquire database where
		initial validation of the data occurs. The data are uploaded into the database by
		the geologist after which ranking of the data happen based on multiple QAQC
		and validation rules.
		•All assay data is uploaded into the database in a text format known as a sif.
		These files include detailed information about the batch, methods, units,
		detection limits and elements assayed. The file also includes all QC data in the
		sequence of analysis. The assay data is stored in a flattened format to ensure
		all required information is stored for each sample, and that multiple assay
		results are stored for each sample.
		•Data validation is controlled via rules, librarytables and triggers. Once all data

Criteria	JORC Code explanation	Commentary
		for a drill-hole have been entered into the database, the geologist responsible
		for the drilling program validates each drill-hole. A standard validation trigger in
		the acquire database run queries against the data, which includes checks for;
		incorrect collar locations, testing for overlapping, missing or incorrect down-
		hole surveys, and incorrect collar location.
		•A digital certified assay certificate in Adobe PDF format is backed up on the
		Darlot server on a regular schedule. A copy of the database also resides on the
		Red 5 back-up server in Perth.
		•The database is secure and password protected by the Database Administrator
		to prevent accidental or malicious adjustment to data.
		•No adjustments are made to the data.
Location of	• Accuracy and quality of surveys used to locate drill holes (collar and	•Collars are marked out pre-drilling and surveyed post-drilling by licensed
data points	down-hole surveys), trenches, mine workings and other locations used in	surveyors. All recent DD holes were surveyed down the hole by Reflex non-
	Mineral Resource estimation.	magnetic multi shot gyro survey. Down hole surveys are routinely undertaken
	• Specification of the grid system used.	by the drilling contractor and verified by the mine geologist.
	• Quality and adequacy of topographic control.	•Drill hole collars are located respective to the local mine grid and to the overall
		property in UTM MGA94-Zone51. Mine grid north is 44° west of north
		Australian Map Grid, and all mining Mineral Resource and Ore Reserve work is
		carried out in Mine Grid. Reduced Level (RL) for surface drilling is calculated
		by adding 1,000 m to surface elevation, while the underground RL is calculated
		by taking the surface RL minus the vertical depth to the point being referenced.
		•Underground voids are surveyed by mine surveyors. The survey control on
		these voids is considered adequate to support the depletion of the Mineral
		Resource model.
Data spacing	• Data spacing for reporting of Exploration Results.	•Typical drill spacing in CDA Oval ranges up to 40x40m, which is reduced to
and	• Whether the data spacing and distribution is sufficient to establish the	around 15x15m in the grade control areas.
distribution	degree of geological and grade continuity appropriate for the Mineral	•The Competent Person considers the data spacing to be sufficient to establish
	Resource and Ore Reserve estimation procedure(s) and classifications	the degree of geological and grade continuity appropriate for the Mineral
	applied.	Resource classification categories adopted for Centenary.
	• Whether sample compositing has been applied.	•Samples were not composited prior to dispatch for analyses.
Orientation of	• Whether the orientation of sampling achieves unbiased sampling of	•CDA Oval was drilled by a combination of underground diamond holes and
data in relation	possible structures and the extent to which this is known, considering the	face sampling, with each face sample trace assigned a drill hole collar ID.
to geological	deposit type.	Underground drilling is confined to drill cuddies and the orientation of
structure	• If the relationship between the drilling orientation and the orientation of	exploration holes is often oblique to the mineralisation. Face sampling traces
	key mineralised structures is considered to have introduced a sampling	are aligned orthogonal to the dip of the mineralisation, as exposed in the face,
	bias, this should be assessed and reported if material.	whenever possible.
		•Resultant sampling bias, particularly from face sampling, is usually retained in
		the drill database and any potential impact upon the Mineral Resource was not
		assessed. The Competent Person does not believe any potential impacts to be
		material in terms of grade interpolation.
Sample	• The measures taken to ensure sample security.	•Although security in not strongly enforced, Darlot is a remote site and the
		number of outside visitors is small. The deposit is known to contain visible gold

Criteria	JORC Code explanation	Commentary
security		and this renders the core susceptible to theft, however the risk of sample
		tampering is considered low.
		•ALS Kalgoorlie organise transport companies to pick up bagged samples from
		a secured locality at the mine site. These are then transported to the laboratory
		facility for further preparation and assaying. All samples received by the
		laboratory are physically checked against the despatch order and Darlot is
		notified of any discrepancies prior to sample preparation commencing. No Red
		5 personnel are involved in the preparation or analysis process.
Audits or	• The results of any audits or reviews of sampling techniques and data.	•A series of written standard procedures exists for sampling and core cutting at
reviews		Darlot. Periodic routine visits to drill rigs and the core farm are carried out by
		project geologists and Senior Geologists / Superintendents to review core
		logging and sampling practices. There were no adverse findings, and any
		minor deficiencies were noted and staff notified, with remedial training if
		required.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral	• Type, reference name/number, location and ownership including	•CDA Oval is covered by mining lease M37/155 and held by Darlot Mining
tenement and	agreements or material issues with third parties such as joint ventures,	Company Limited. This lease covers 1,000Ha and was granted on 18/7/1988,
land tenure	partnerships, overriding royalties, native title interests, historical sites,	renewed 17/7/2009 and to be renewed on 17/7/2030. Current rental has been
status	wilderness or national park and environmental settings.	paid ($17,600) and minimum annual expenditure of $100,000 is required, and
	• The security of the tenure held at the time of reporting along with any	is being met. There are no Joint Ventures over the tenure and no native title
	known impediments to obtaining a licence to operate in the area.	claims. There are no other agreements in place apart from a 2.5% royalty for all
		gold sold, payable to the Government of Western Australia.
Exploration	• Acknowledgment and appraisal of exploration by other parties.	•CDA Oval is part of the Darlot Gold Mine, which has a long history of gold
done by other		mining and exploration. Alluvial gold was first mined in the area in 1894 with a
parties		consequent gold rush between 1895 and 1913. Total gold production from this
		time is unknown. Limited gold production occurred between 1935 and 1980.
		•Modern exploration of Darlot commenced in the period in the 1970’s, with
		intensive exploration by Sundowner Minerals NL during 1986 to 1988. Darlot
		open pit mining commenced in 1988, and Sundowner was acquired by Plutonic
		Resources in 1992, who continued open cut mining through to 1995.
		Underground mining commenced in 1995 and has continued to the present
		day.
		•CDA Oval was discovered in 2015, and underground development commenced
		in 2016. Mining has continued to the present day.
		•To the end of October 2017, the Darlot Gold Mine has produced 17 Mt @ 4.8
		g/t Au for 2.7 MOz.
		•A total of 139 Diamond drill holes (54,704.42 m), (including 23 RCDD holes),
		and 148 face samples (773.34 m) support the Mineral Resource.
		•3D seismic surveys were carried out in late 2016 to provide geophysical data in
		support of planned exploration programs.
Geology	• Deposit type, geological setting and style of mineralisation.	•The Darlot lodes are considered to be part of an Archean hydrothermal fault-
		vein deposit with many similar characteristics with other deposits within the
		Yilgarn Craton, namely host rock type and nature of hydrothermal alteration;
		however, it is atypical in being relatively flat-lying rather than steeply dipping.
		Felsic porphyries and lamprophyre intrusions are encountered throughout the
		deposit. The major host for gold mineralisation is the Mount Pickering Dolerite.
		•The CDA Oval deposit is located approximately 0.5 km east of the Darlot open
		pit and has been defined between 470 m and 1,200 m below the surface.
		•Gold mineralisation is associated with quartz veins and alteration haloes
		controlled by major D2 and D3 structures or secondary splays and cross linking
		structures. The quartz veins are hosted mainly by magnetic dolerite and
		magnetic quartz dolerite rock types and, to a lesser extent, by non-magnetic
		dolerite and felsic volcano-sedimentary rock types. Lamprophyre intrusions are
		present in the area with a variety of orientations. In most cases the
		lamprophyres are thought to be pre-mineralisation but are an un-favorable host

Criteria	JORC Code explanation	Commentary
		rock for mineralisation and in most cases are barren.
		•The hanging-wall and foot-wall veins associated with the CDA Oval
		mineralisation typically dip to the NW between ~5° and 25° with the Main Oval
		structure dipping at around 45° to the NW. The CDA Oval deposit also
		encompasses the Twelfth man and Burswood fault structures which are similar
		to the Oval and dip at ~70° to the NW too. The recent mining history of the
		CDA Oval area and associated reconciliations has proven the veracity of this
		model.
		•Mineralisation is hosted by a fractionated Dolerite sill within the greater Mt
		Pickering dolerite syncline, with silica+/-albite+/-carbonate+/-pyrite+/-gold being
		the key alteration components.
Drill hole	• A summary of all information material to the understanding of the	•Drill hole information from Darlot drill programs, predominantly diamond core
Information	exploration results including a tabulation of the following information for	and face sampling, were used to support the Mineral Resource estimate. The
	all Material drill holes:	locations of drill samples, and the geological logs of these samples were used
	`o` easting and northing of the drill hole collar	to build the geological model, and with the sample analyses, support the
	`o` elevation or RL (Reduced Level – elevation above sea level in metres)	Mineral Resource estimate.
	of the drill hole collar
	`o` dip and azimuth of the hole
	`o` down hole length and interception depth
	`o` hole length.
	• If the exclusion of this information is justified on the basis that the
	information is not Material and this exclusion does not detract from the
	understanding of the report, the Competent Person should clearly explain
	why this is the case.
Data	• In reporting Exploration Results, weighting averaging techniques,	•Exploration results are not reported here, with most drill holes and face
aggregation	maximum and/or minimum grade truncations (eg cutting of high grades)	samples used to support the Mineral Resource estimate. Sludge samples are
methods	and cut-off grades are usually Material and should be stated.	recorded in the drill hole database but were not used in the Mineral Resource
	• Where aggregate intercepts incorporate short lengths of high grade	estimate due insufficient reliability of sampling methods.
	results and longer lengths of low grade results, the procedure used for
	such aggregation should be stated and some typical examples of such
	aggregations should be shown in detail.
	• The assumptions used for any reporting of metal equivalent values
	should be clearly stated.
Relationship	• These relationships are particularly important in the reporting of	•From mapping and diamond drilling, mineralisation typically dips to the NW
between	Exploration Results.	between ~5° and 25°. Drillholes are angled to drill as close to perpendicular to
mineralisation	• If the geometry of the mineralisation with respect to the drill hole angle is	mineralisation as possible, although this is difficult when drilling from
widths and	known, its nature should be reported.	underground locations, targeting lode positions along strike from the drill
intercept	• If it is not known and only the down hole lengths are reported, there	cuddies.
lengths	should be a clear statement to this effect (eg ‘down hole length, true	•Intercepts reported are downhole length, and true width can generally be
	width not known’).	calculated because the dip of the lode is known.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts	•Isometric view representing the Darlot deposit (including CDA Oval) is included
	should be included for any significant discovery being reported These	in the body of this report.
	should include, but not be limited to a plan view of drill hole collar
	locations and appropriate sectional views.

Criteria	JORC Code explanation	Commentary
Balanced	• Where comprehensive reporting of all Exploration Results is not	•Exploration results are not reported here, with all drill holes used to support the
reporting	practicable, representative reporting of both low and high grades and/or	Mineral Resource estimate.
	widths should be practiced to avoid misleading reporting of Exploration
	Results.
Other	• Other exploration data, if meaningful and material, should be reported	•CDA Oval is part of the Darlot Gold Mine, and the lodes were geologically
substantive	including (but not limited to): geological observations; geophysical survey	mapped in underground exposures. The geological mapping provided a
exploration	results; geochemical survey results; bulk samples – size and method of	foundation for the interpretation of the geological models.
data	treatment; metallurgical test results; bulk density, groundwater,	•A report from 2017 on metallurgical test-work done by ALS AMMTEC for the
	geotechnical and rock characteristics; potential deleterious or	CDA Oval lodes suggested that a recovery of 91% was achievable based on
	contaminating substances.	the sample composites provided by the Darlot Geology department.
		•Samples were tested for bulk density using the water immersion technique.
		Fresh core billets (not weathered) were not required to be wax coated prior to
		immersion.
Further work	• The nature and scale of planned further work (eg tests for lateral	•CDA Oval is open along strike and down dip, with potential for additional gold
	extensions or depth extensions or large-scale step-out drilling).	mineralisation in these directions.
	• Diagrams clearly highlighting the areas of possible extensions, including	•Plans are currently being formulated for exploration drilling to test these targets.
	the main geological interpretations and future drilling areas, provided this
	information is not commercially sensitive.

Section 3 Estimation and Reporting of Mineral Resources

(Criteria listed in section 1, and where relevant in section 2, also apply to this section.)

Criteria	JORC Code explanation	Commentary
Database	• Measures taken to ensure that data has not been corrupted by, for	•Data is entered directly into the data capture system in the field, and reviewed
integrity	example, transcription or keying errors, between its initial collection and	by a geologist before being imported to the main database. Geological Logging
	its use for Mineral Resource estimation purposes.	at Darlot is collected by geologists and entered directly into an Acquire
	• Data validation procedures used.	Database on a laptop computer. Logging is regularly checked by a senior
		company geologist to ensure the veracity and consistency of the data.
		•Logs cannot be finalised if key fields are missing, nor can codes not existing in
		the library be entered, ensuring continuity of data, and reducing data entry and
		transcription errors.
		•Once in the main database, only the database administrators can edit or
		change data, and all changes are logged by the system.
Site visits	• Comment on any site visits undertaken by the Competent Person and the	•The Competent Person(s) (CP) are based on site at Darlot and are familiar with
	outcome of those visits.	the geological setting of the deposit, sampling protocols, quality control and
	• If no site visits have been undertaken indicate why this is the case.	quality assurance (QA/QC) of sample data, resource modelling procedures,
		current site procedures and policies, and are confident that all data collected is
		verifiable and has been collected in line with industry best practices to support
		a Mineral Resource Estimate.
Geological	• Confidence in (or conversely, the uncertainty of ) the geological	•Gold mineralisation is associated with quartz veins and alteration haloes
interpretation	interpretation of the mineral deposit.	controlled by major D2 and D3 structures or secondary splays and cross linking
	• Nature of the data used and of any assumptions made.	structures. The quartz veins are hosted mainly by magnetic dolerite and
	• The effect, if any, of alternative interpretations on Mineral Resource	magnetic quartz dolerite rock types and, to a lesser extent, by non-magnetic
	estimation.	dolerite and felsic volcano-sedimentary rock types. Lamprophyre intrusions are
	• The use of geology in guiding and controlling Mineral Resource	present in the area with a variety of orientations. In most cases the
	estimation.	lamprophyres are thought to be pre-mineralisation but are an un-favorable host
	• The factors affecting continuity both of grade and geology.	rock for mineralisation and in most cases are barren. •The hanging-wall and foot-wall veins associated with the CDA Oval
		mineralisation typically dip to the NW between ~5°and 25°with the Main Oval
		structure dipping at around 45°to the NW. The CDA Oval deposit also
		encompasses the Twelfth man and Burswood fault structures which are similar
		to the Oval and dip at ~70°to the NW too. The recent mining history of the
		CDA Oval area and associated reconciliations has proven the veracity of this
		model.
		•The sample data for the CDA Oval includes diamond drilling (DD), and reverse
		circulation (RC) with DD tail only. Underground face samples taken by mine
		geologists were also included. Some holes were excluded due to erroneous
		collar and down-hole surveys and a default grade of 0.005g/t was assigned
		where the gold grade was absent. The interpretations supporting the
		geological models are predominantly based upon drill hole samples and
		geological mapping from the development drives.
		•All geological interpretations for CDA Oval are prepared in Darlot Mine Grid.
		•The CDAOvaldeposithas beencontinuouslymined since2016 and alternative

Criteria	JORC Code explanation	Commentary
		interpretations have not been considered as the geological controls are
		generally well understood.
		•The CDA Oval Deposit is sub-divided into five mineralised domains based on
		geology and structure, with the steeper Oval, Twelfth man and Burswood fault
		hosted domains separated from the flatter wing vein hosted mineralisation such
		as the hanging-wall and foot-wall lode areas. Those domains with similar
		characteristics were grouped geo-statistically.
		•The site geologists prepared the interpretations of the mineralised lodes within
		these domains and the 31 lodes are modeled as individual wireframes.
		•The grade in the ore bodies is controlled by both structure and host lithology, in
		that typically the best grades are hosted by the Magnetic Dolerite and Felsic
		intrusions, with comparatively lesser grades observed in the other host rocks
		such as the non-magnetic dolerite. Consequently host lithology for lodes was a
		key factor considered for the estimate.
Dimensions	• The extent and variability of the Mineral Resource expressed as length	•The deposit has an overall strike length of about 600 m and a width of about
	(along strike or otherwise), plan width, and depth below surface to the	600 m and extends from about 470m to 1,200 m below the natural surface.
	upper and lower limits of the Mineral Resource.
Estimation and	• The nature and appropriateness of the estimation technique(s) applied	•As previously noted, the Mineral Resource estimate has been divided into five
modelling	and key assumptions, including treatment of extreme grade values,	(5) domains for the purpose of resource estimation. The model was constructed
techniques	domaining, interpolation parameters and maximum distance of	with manual wireframing Leapfrog software.
	extrapolation from data points. If a computer assisted estimation method	•The 31 wireframes mentioned above were imported directly into Vulcan for
	was chosen include a description of computer software and parameters	grade estimation and resource reporting.
	used.	•Vulcan was used for block modelling, grade interpolation, and Mineral
	• The availability of check estimates, previous estimates and/or mine	Resource classification and reporting. Snowden Supervisor was used for
	production records and whether the Mineral Resource estimate takes	geostatistical analyses. The Au domain interpretations were based upon both
	appropriate account of such data.	geology and grade.
	• The assumptions made regarding recovery of by-products.	•Significant amounts of lamprophyre which are generally barren cross-cut some
	• Estimation of deleterious elements or other non-grade variables of	of the lodes, some of the larger ones were wire-framed by the site geologists,
	economic significance (eg sulphur for acid mine drainage	while a categorical estimation technique was applied to model out the less
	characterisation).	continuous dykes, based on an indicator kriging technique. These areas are
	• In the case of block model interpolation, the block size in relation to the	then flagged as waste in the final model.
	average sample spacing and the search employed.	•The CDA Oval lodes have been mined since 2016 and recent mine to mill
	• Any assumptions behind modelling of selective mining units.	reconciliations have proven the veracity of the model. No check estimates are
	• Any assumptions about correlation between variables.	known to have been completed.
	• Description of how the geological interpretation was used to control the	•No significant amounts of deleterious elements have historically been
	resource estimates.	encountered or estimated in the CDA Oval deposit, and hence have never
	• Discussion of basis for using or not using grade cutting or capping.	been considered for estimation in the Mineral Resource. Pyrite does not occur
	• The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available.	in significant enough quantities to be considered for acid mine drainage (AMD) considerations.
		•All of the CDA Oval lodes are entirely in fresh rock
		•All lodes were sub-celled to 1x1x1m block sizes with a nominal parent cell size
		of 20x20x5m. In grade control areas this was reduced to 5m (X) x 5m (Y) x 5m
		(Z), to more accurately represent the closer spaced drilling. Typical drill
		spacing in CDA Oval ranges up to 40x40m, which is reduced to around

Criteria	JORC Code explanation	Commentary	Commentary
			15x15m in the grade control areas. The table below summarizes the search
			parameters used.
		•
		•	All gold grades were estimated using Ordinary Kriging, Simple Kriging and
			Inverse Distance Squared (IDS) as a comparative for validation purposes.
		•	Samples were composited to 1 m intervals.
		•	A variety of top cuts were applied to the composites of up to 70g/t; dependent
			on the statistics for each domain. This was based on assessment of outliers
			and histogram skewness.
		•	CDA Oval is primarily a gold deposit and other elements have not been
			considered for analysis.
		•	The estimates were validated in three ways, by on-screen visual assessments,
			declustered sample mean grades vs. block mean grades for each domain and
			swath plots.
Moisture	• Whether the tonnages are estimated on a dry basis or with natural	•	Tonnages are estimated on a dry basis.
	moisture, and the method of determination of the moisture content.
Cut-off	• The basis of the adopted cut-off grade(s) or quality parameters applied.	•	All geological interpretations were completed by site geologists based on both
parameters			grade and lithology, and an approximate lower cut-off of around 0.5g/t.
Mining factors	• Assumptions made regarding possible mining methods, minimum mining	•	Domains were modelled to a minimum 1 m plan width.
or	dimensions and internal (or, if applicable, external) mining dilution. It is
assumptions	always necessary as part of the process of determining reasonable
	prospects for eventual economic extraction to consider potential mining
	methods, but the assumptions made regarding mining methods and
	parameters when estimating Mineral Resources may not always be
	rigorous. Where this is the case, this should be reported with an
	explanation of the basis of the mining assumptions made.
Metallurgical	• The basis for assumptions or predictions regarding metallurgical	•	During the mining history of Darlot the mill has generally achieved >93-95%
factors or	amenability. It is always necessary as part of the process of determining		recoveries with a significant portion of the gold also captured by a gravity

Criteria	JORC Code explanation	Commentary
assumptions	reasonable prospects for eventual economic extraction to consider	circuit.
	potential metallurgical methods, but the assumptions regarding	•A report from 2017 on metallurgical test-work done by ALS AMMTEC for the
	metallurgical treatment processes and parameters made when reporting	CDA Oval lodes suggested that a recovery of 91% was achievable based on
	Mineral Resources may not always be rigorous. Where this is the case,	the sample composites provided by the Darlot Geology department.
	this should be reported with an explanation of the basis of the
	metallurgical assumptions made.
Environmen-	• Assumptions made regarding possible waste and process residue	•Darlot has had an extensive mining history and as such has full infrastructure
tal factors or	disposal options. It is always necessary as part of the process of	for the treatment of processing and mining residues.
assumptions	determining reasonable prospects for eventual economic extraction to	•Darlot is certified as ISO14001 compliant for environmental management and is
	consider the potential environmental impacts of the mining and	also certified for International Cyanide Management Code.
	processing operation. While at this stage the determination of potential
	environmental impacts, particularly for a greenfields project, may not
	always be well advanced, the status of early consideration of these
	potential environmental impacts should be reported. Where these
	aspects have not been considered this should be reported with an
	explanation of the environmental assumptions made.
Bulk density	• Whether assumed or determined. If assumed, the basis for the	•A dry (in situ) bulk density of 2.90 t/m3 has been used for all lithologies. This
	assumptions. If determined, the method used, whether wet or dry, the	value has been historically assigned for the Darlot project area.
	frequency of the measurements, the nature, size and representativeness	•Data is available for bulk density determinations and is recorded in Red 5
	of the samples.	Limited’s database, and was assessed by previous operators of the Darlot Gold
	• The bulk density for bulk material must have been measured by methods	Mine. The CP is satisfied that the value used is verifiable and typical given their
	that adequately account for void spaces (vugs, porosity, etc), moisture	knowledge and experience in similar deposits in the Eastern Goldfields of
	and differences between rock and alteration zones within the deposit.	Western Australia.
	• Discuss assumptions for bulk density estimates used in the evaluation	•All the bulk density records that have been sighted were determined by the
	process of the different materials.	Archimedes method of immersion in water, with no wax coating required as
		porosity is not an issue in Darlot host rocks. These samples are considered
		representative of the lodes and waste zones.
Classification	• The basis for the classification of the Mineral Resources into varying	•The Mineral Resource is classified as Indicated and Inferred.
	confidence categories.	•The geological evidence for mineralisation occurrence and continuity was
	• Whether appropriate account has been taken of all relevant factors (ie	observed in drill samples and significant underground workings on the CDA
	relative confidence in tonnage/grade estimations, reliability of input data,	Oval lodes. For classification of Indicated; in the main steep lodes a drill
	confidence in continuity of geology and metal values, quality, quantity and	spacing of <30 x 30 m was required, with <20 x 20 m for the flatter lodes. For
	distribution of the data).	classification of Inferred; < 60 x 60 m for steep lodes and < 40 x 40 m for the
	• Whether the result appropriately reflects the Competent Person’s view of	flatter lodes. Any blocks outside these parameters were unclassified. Drill
	the deposit.	sampling and analytical techniques for DD as well as face sampling are well
		documented by Red 5 Limited, as well as rigorous QAQC protocols and
		documentation to support an Indicated Resource Classification where
		geological confidence allows.
		•The classification of the Mineral Resource took into account the geological
		understanding of the deposit, quality of the samples, quality and quantity of
		density data, drill hole spacing, and the quality of the block grade estimates.
		Geological understanding and quality of samples is sufficient to assume
		geological and grade continuity in the Indicated volumes.
		•All relevant factors have been taken into account when determining the
		resource classification forCDAOvaldeposit, and theresults are deemed by

Criteria	JORC Code explanation	Commentary
		the CP to be fair and relevant.
Audits or	• The results of any audits or reviews of Mineral Resource estimates.	•The Mineral Resource Estimate was peer reviewed internally by Red 5 Senior
reviews		Geologists.
Discussion of	• Where appropriate a statement of the relative accuracy and confidence	•The Mineral Resource estimate is considered a global resource for both
relative	level in the Mineral Resource estimate using an approach or procedure	Indicated and Inferred Resource estimations.
accuracy/	deemed appropriate by the Competent Person. For example, the	•The CP is comfortable that the ~1-2 years of mining and reconciliation data is
confidence	application of statistical or geostatistical procedures to quantify the	deemed sufficient to verify the veracity of the estimate.
	relative accuracy of the resource within stated confidence limits, or, if	•Fully surveyed voids have been used to deplete the model of already mined
	such an approach is not deemed appropriate, a qualitative discussion of	material.
	the factors that could affect the relative accuracy and confidence of the
	estimate.
	• The statement should specify whether it relates to global or local
	estimates, and, if local, state the relevant tonnages, which should be
	relevant to technical and economic evaluation. Documentation should
	include assumptions made and the procedures used.
	• These statements of relative accuracy and confidence of the estimate
	should be compared with production data, where available.

JORC Code, 2012 Edition – Table 1 for the Burswood Resource – Part of the Darlot Deposit

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling	• Nature and quality of sampling (eg cut channels, random chips, or	•Reverse circulation (RC), diamond core (DD) drilling and face sampling (face)
techniques	specific specialised industry standard measurement tools appropriate to	provided pulverised chips and competent lengths of core samples. Face
	the minerals under investigation, such as down hole gamma sondes, or	sampling was converted to dummy drill holes and included in the database.
	handheld XRF instruments, etc). These examples should not be taken as	Drill hole data supporting the Mineral Resource contains 328 unique drill hole
	limiting the broad meaning of sampling.	IDs for a total sample length of 77,756.44 m. Sludge samples were excluded
	• Include reference to measures taken to ensure sample representivity and	from the drill hole data files due to lack of quality assurance regarding
	the appropriate calibration of any measurement tools or systems used.	sampling.
	• Aspects of the determination of mineralisation that are Material to the	•A total of 311 Diamond drill holes (77,402.19 m), including 54 RCDD holes, 4
	Public Report.	RC holes (254 m) and 13 face samples (100.25 m) support the Mineral
	• In cases where ‘industry standard’ work has been done this would be	Resource.
	relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m	•Diamond core is predominantly NQ2 with some HQ and was cleaned, laid out,
	samples from which 3 kg was pulverised to produce a 30 g charge for fire	measured and logged in its entirety. Core is marked up with a maximum core
	assay’). In other cases more explanation may be required, such as where	length of 1 m, depending on core size. Some core is whole sampled (full core
	there is coarse gold that has inherent sampling problems. Unusual	collection) when necessary, but most core is half cut core. Digital photographs
	commodities or mineralisation types (eg submarine nodules) may warrant	are taken and stored for reference purposes. Where possible core is cut in half
	disclosure of detailed information.	with one half only being submitted for analysis at the Laboratory, with the other
		half is stored in the core farm for reference.
		•RC samples of 1 m drill length were passed through a rig mounted cyclone and
		collected in large plastic bags positioned beneath the cyclone. The action of
		the cyclone adequately homogenizes the sample collected in the bag.
		Representative 3 kg samples were collected in calico bags for dispatch to the
		analytical laboratory.
Drilling	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air	•The sample data for the Burswood area includes diamond drilling (DD),
techniques	blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or	underground face samples (FACE), reverse circulation (RC) and RC holes with
	standard tube, depth of diamond tails, face-sampling bit or other type,	diamond core tails (RCDD). Only the diamond core samples from RCDD holes
	whether core is oriented and if so, by what method, etc).	were used in the Burswood Mineral Resource. The data was collected during
		2015/16 whilst targeting CDA Oval.
		•Underground DDH is usually NQ2 or LTK60.
		•Underground face sampling was carried out by the geologists painting a
		sample line orthogonal to the dip of the quartz veining, and sampled according
		to geological intervals. Samples were bagged and ticketed with unique sample
		IDs, and dispatched to the assay laboratory.
		•RC drilling used a face sampling hammer.
Drill sample	• Method of recording and assessing core and chip sample recoveries and	•Drill sample recoveries are recorded for each sample number and stored in the
recovery	results assessed.	Acquire database. Diamond core samples were geotechnically logged and
	• Measures taken to maximise sample recovery and ensure representative	sample recoveries calculated. Most drill samples penetrating mineralisation are
	nature of the samples.	diamond core.
	• Whether a relationship exists between sample recovery and grade and	•Core recoveryfactors for core drillingaregenerallyveryhigh typicallyin

Criteria	JORC Code explanation	Commentary
	whether sample bias may have occurred due to preferential loss/gain of	excess of 95% recovery. Some loss occurs locally when drilling through
	fine/coarse material.	fault/shear zones. Face sampling, by its nature, can be a biased sampling
		method, relying on manual ‘picking’ of the face by either a geological hammer,
		or by a Jumbo scraping sample material off the face and collected by the mine
		geologist. Face sampling can be regarded as having 100% sample recovery,
		however the Competent Person is cognisant of sampling bias. The use of face
		samples in grade estimation is provided in Section 3.
		•The supervising geologist monitored the diamond core recoveries and
		discussed any shortcoming with the driller. Recoveries are generally very good
		however.
		•Where possible, RC percussion samples are recovered from the RC drill rig
		through the cyclone splitter, providing a 2-4 kg sample, which is submitted for
		assay.
Logging	• Whether core and chip samples have been geologically and	•A geologist was present at all times during drilling and sampling. Geological
	geotechnically logged to a level of detail to support appropriate Mineral	logging protocols at the time of drilling were followed to ensure consistency in
	Resource estimation, mining studies and metallurgical studies.	drill logs between the geological staff.
	• Whether logging is qualitative or quantitative in nature. Core (or costean,	•Diamond core were logged for lithology, structure, stratigraphy, mineralisation,
	channel, etc) photography.	alteration, geophysical (magnetic properties) and geochemical properties
	• The total length and percentage of the relevant intersections logged.	(multi-element assays) and physical measurements (rock hardness,
		geotechnical RQD's, density, acid rock drainage (ARD)).
		•The full sample lengths were logged. Core was photographed (mostly wet).
		•RC chips were logged for weathering, lithologies, mineralogy, colour and
		grainsize. RC chip trays (with chips) were infrequently photographed.
Sub-sampling	• If core, whether cut or sawn and whether quarter, half or all core taken.	•DD core sample lengths can be variable in a mineralized zone, though usually
techniques	• If non-core, whether riffled, tube sampled, rotary split, etc and whether	no larger than one-metre. This enables the capture of assay data for narrow
and sample	sampled wet or dry.	structures and localized grade variations.
preparation	• For all sample types, the nature, quality and appropriateness of the	•Grade control drill holes are sampled as whole core. DD samples are taken
	sample preparation technique.	according to a cut sheet compiled by the geologist. Half or full core samples
	• Quality control procedures adopted for all sub-sampling stages to	are bagged in pre-numbered calico bags and submitted with a sample
	maximise representivity of samples.	submission form.
	• Measures taken to ensure that the sampling is representative of the in	•DD core is cut by a getoech field assistant.
	situ material collected, including for instance results for field	•RC drilling is logged and sampled on one-metre intervals using similar codes to
	duplicate/second-half sampling.	DD core.
	• Whether sample sizes are appropriate to the grain size of the material	•The sampling protocols are considered appropriate for the style of
	being sampled.	mineralisation.
		• A summary of the sample preparation process is as below:
		`o` Oven dried at 105ºC.
		`o` Jaw crushed to -12 mm.
		`o` If sample >3kg, Boyd crusher to 3 mm, and riffle split to <3kg.
		`o` Pulverised in LM5.
		`o` 250-300 g pulp sample taken.
		`o` Remainder of pulp returned to calico sample bag.
		• Quality Control(QC) samples areinserted at arate of 1 in 20. Allstandards

Criteria	JORC Code explanation	Commentary
		used are Certified Reference Materials (CRM). The insertion of blanks is under
		the control of the geologist and CRMs are usually inserted one per batch.
		•Sample sizes are considered appropriate to the grain size of the material being
		sampled.
Quality of	• The nature, quality and appropriateness of the assaying and laboratory	•Primary assaying of samples has been undertaken by ALS Kalgoorlie for
assay data	procedures used and whether the technique is considered partial or total.	considerable time. Documentation regarding more historical holes and their
and laboratory	• For geophysical tools, spectrometers, handheld XRF instruments, etc, the	sample analyses are not well documented. Analysis is by 50g fire assay (FA)
tests	parameters used in determining the analysis including instrument make	with Atomic Absorption Spectrometer (AAS) finish to 0.01 g/t detection limit.
	and model, reading times, calibrations factors applied and their	Given the occurrence of coarse gold, Screen Fire Assays (SFA) checks are
	derivation, etc.	periodically undertaken.
	• Nature of quality control procedures adopted (eg standards, blanks,	•The processes are considered total.
	duplicates, external laboratory checks) and whether acceptable levels of	•Previous operators employed a comprehensive QA/QC regime with CRMs,
	accuracy (ie lack of bias) and precision have been established.	blanks, quartz flush checks and grind checks routinely monitored. Coarse
		duplicates from crush residue, and pulp duplicates from pulp residues were
		regularly monitored to test the quality of sub sampling stages. Results are
		documented on a quarterly basis, with any failures or irregularities investigated
		and actions taken to correct the issue. Regular communications were had with
		ALS.
		•Umpire analyses were undertaken at Independent Assay Laboratories (IAL) for
		selected samples comprising a 100 sample batch. Results show a reasonable
		correlation with the original samples, with differences largely attributable to
		nugget effects.
		•Acceptable levels of accuracy and precision were established prior to
		accepting the sample data as support for the Mineral Resource estimate.
		•The QAQC procedures and results show acceptable levels of accuracy and
		precision were established.
Verification of	• The verification of significant intersections by either independent or	•Intersections with significant Au grade are not unknown. Visible Au is
sampling and	alternative company personnel.	sometimes observed. If core samples with significant intersections are logged
assaying	• The use of twinned holes.	then alternative geological personnel are likely to review and confirm the
	• Documentation of primary data, data entry procedures, data verification,	results.
	data storage (physical and electronic) protocols.	•No twin drilling has occurred at Burswood.
	• Discuss any adjustment to assay data.	•All data at Darlot is stored in an SQL relational database format using acQuire
		software. acQuire enables definition of tasks, permission management and
		database integrity. The SQL Server database is configured for optimal
		validation through constraints, library tables and triggers. Data that fails these
		rules on import is rejected and not ranked as a priority to be used for exports or
		any data applications.
		•All exploration data control is managed centrally, from drill-hole planning to
		final assay, survey and geological capture. The majority of logging data
		(lithology, alteration, and structural characteristics of core and percussion
		chips) is captured directly either by manual or to customised digital logging
		tools with stringent validation and data entry constraints. Geologists load data
		in the acquire database where initial validation of the data occurs. The data are

Criteria	JORC Code explanation	Commentary
		uploaded into the database by the geologist after which ranking of the data
		happen based on multiple QAQC and validation rules.
		•All assay data is uploaded into the database in a text format known as a sif.
		These files include detailed information about the batch, methods, units,
		detection limits and elements assayed. The file also includes all QC data in the
		sequence of analysis. The assay data is stored in a flattened format to ensure
		all required information is stored for each sample, and that multiple assay
		results are stored for each sample.
		•Data validation is controlled via rules, library tables and triggers. Once all data
		for a drill-hole have been entered into the database, the geologist responsible
		for the drilling program validates each drill-hole. A standard validation trigger in
		the acquire database run queries against the data, which includes checks for
		incorrect collar locations, testing for overlapping, missing or incorrect down-
		hole surveys, and incorrect collar locations.
		•A digital certified assay certificate in Adobe PDF format is backed up on the
		Darlot server on a regular schedule. A copy of the database also resides on
		the Red 5 back-up server in Perth.
		•The database is secure and password protected by the Database
		Administrator to prevent accidental or malicious adjustment to data.
		•No adjustments are made to the data.
Location of	• Accuracy and quality of surveys used to locate drill holes (collar and	•Collars are marked out pre-drilling and surveyed post-drilling by licensed
data points	down-hole surveys), trenches, mine workings and other locations used in	surveyors. All recent DD holes were surveyed down the hole by Reflex non-
	Mineral Resource estimation.	magnetic multi shot gyro survey. Down hole surveys are routinely undertaken
	• Specification of the grid system used.	by the drilling contractor and verified by the mine geologist. Due to the
	• Quality and adequacy of topographic control.	relatively short depths of RC drilling (<100m) these holes are generally not
		surveyed. The 4 RC holes at Burswood are vertical. When RC is used as pre-
		collars to DDH tails, these are then surveyed using standard down hole gyro.
		•Drill hole collars are located respective to the local mine grid and to the overall
		property in UTM MGA94-Zone51. Mine grid north is 44° west of north
		Australian Map Grid, and all mining Mineral Resource and Ore Reserve work is
		carried out in Mine Grid. Reduced Level (RL) for surface drilling is calculated
		by adding 1,000 m to surface elevation, while the underground RL is calculated
		by taking the surface RL minus the vertical depth to the point being referenced.
		•Underground voids are surveyed by mine surveyors. The survey control on
		these voids is considered adequate to support the depletion of the Mineral
		Resource model.
Data spacing	• Data spacing for reporting of Exploration Results.	•Typical drill spacing in Burswood ranges up to 40x40m reducing to 20x20 in
and	• Whether the data spacing and distribution is sufficient to establish the	areas defined as Indicated.
distribution	degree of geological and grade continuity appropriate for the Mineral	•The Competent Person considers the data spacing to be sufficient to establish
	Resource and Ore Reserve estimation procedure(s) and classifications	the degree of geological and grade continuity appropriate for the Mineral
	applied.	Resource classification categories adopted for Burswood.
	• _Whether sample compositing has been applied. _

Criteria	JORC Code explanation	Commentary
		•Samples were not composited prior to dispatch for analyses.
Orientation of	• Whether the orientation of sampling achieves unbiased sampling of	•Burswood was drilled by a combination of underground diamond holes, RC
data in relation	possible structures and the extent to which this is known, considering the	and face sampling, with each face sample trace assigned a drill hole collar ID.
to geological	deposit type.	Underground drilling is confined to drill cuddies and the orientation of
structure	• If the relationship between the drilling orientation and the orientation of	exploration holes is often oblique to the mineralisation. Face sampling traces
	key mineralised structures is considered to have introduced a sampling	are aligned orthogonal to the dip of the mineralisation, as exposed in the face,
	bias, this should be assessed and reported if material.	whenever possible. The surface holes (RC, RCDD) were orientated to
		penetrate the host unit as orthogonally as possible.
		•Resultant sampling bias, particularly from face sampling, is usually retained in
		the drill database and any potential impact upon the Mineral Resource was not
		assessed. The Competent Person does not believe any potential impacts to be
		material in terms of grade interpolation.
Sample	• The measures taken to ensure sample security.	•Although security in not strongly enforced, Darlot is a remote site and the
security		number of outside visitors is small. The deposit is known to contain visible gold
		and this renders the core susceptible to theft, however the risk of sample
		tampering is considered low.
		•ALS Kalgoorlie organise transport companies to pick up bagged samples from
		a secured locality at the mine site. These are then transported to the laboratory
		facility for further preparation and assaying. All samples received by the
		laboratory are physically checked against the despatch order and Darlot is
		notified of any discrepancies prior to sample preparation commencing. No Red
		5 personnel are involved in the preparation or analysis process.
Audits or	• The results of any audits or reviews of sampling techniques and data.	•A series of written standard procedures exists for sampling and core cutting at
reviews		Darlot. Periodic routine visits to drill rigs and the core farm are carried out by
		project geologists and Senior Geologists / Superintendents to review core
		logging and sampling practices. There were no adverse findings, and any
		minor deficiencies were noted and staff notified, with remedial training if
		required.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral	• Type, reference name/number, location and ownership including	•Burswood is covered by mining lease M37/155 and held by Darlot Mining
tenement and	agreements or material issues with third parties such as joint ventures,	Company Limited. This lease covers 1,000Ha and was granted on 18/7/1988,
land tenure	partnerships, overriding royalties, native title interests, historical sites,	renewed 17/7/2009 and to be renewed on 17/7/2030. Current rental has been
status	wilderness or national park and environmental settings.	paid ($17,600) and minimum annual expenditure of $100,000 is required, and
	• The security of the tenure held at the time of reporting along with any	is being met. There are no Joint Ventures over the tenure and no native title
	known impediments to obtaining a licence to operate in the area.	claims. There are no other agreements in place apart from a 2.5% royalty for all
		gold sold, payable to the Government of Western Australia.
Exploration	• Acknowledgment and appraisal of exploration by other parties.	•Burswood is part of the Darlot Gold Mine, which has a long history of gold
done by other		mining and exploration. Alluvial gold was first mined in the area in 1894 with a
parties		consequent gold rush between 1895 and 1913. Total gold production from this
		time is unknown. Limited gold production occurred between 1935 and 1980.
		•Modern exploration of Darlot commenced in the period in the 1970’s, with
		intensive exploration by Sundowner Minerals NL during 1986 to 1988. Darlot
		open pit mining commenced in 1988, and Sundowner was acquired by Plutonic
		Resources in 1992, who continued open cut mining through to 1995.
		Underground mining commenced in 1995 and has continued to the present
		day.
		•To the end of October 2017, the Darlot Gold Mine has produced 17 Mt @ 4.8
		g/t Au for 2.7 MOz produced.
		•Burswood was discovered in 2015, however underground development of the
		deposit has not commenced.
		•A total of 311 Diamond drill holes (77,402.19 m), including 54 RCDD holes, 4
		RC holes (254 m) and 13 face samples (100.25 m) support the Mineral
		Resource.
		•3D seismic surveys were carried out in late 2016 to provide geophysical data in
		support of planned exploration programs down dip, although the seismic
		surveys do not support Burswood as much as they do Centenary, which the
		surveys were focusing upon.
Geology	• Deposit type, geological setting and style of mineralisation.	•The Darlot lodes are considered to be part of an Archean hydrothermal fault-
		vein deposit with many similar characteristics with other deposits within the
		Yilgarn Craton, namely host rock type and nature of hydrothermal alteration;
		however, it is atypical in being relatively flat-lying rather than steeply dipping.
		Felsic porphyries and lamprophyre intrusions are encountered throughout the
		deposit. The major host for gold mineralisation is the Mount Pickering Dolerite.
		•The Burswood deposit is located approximately 1 km east of the Darlot open pit
		and has been defined between surface and 650 m below the surface.
		•Gold mineralisation is associated with quartz veins and alteration haloes
		controlled by major D2 and D3 structures or secondary splays and cross linking
		structures. The quartz veins are hosted mainly by magnetic dolerite and
		magnetic quartz dolerite rock types and, to a lesser extent, by non-magnetic

Criteria	JORC Code explanation	Commentary
		dolerite and felsic volcano-sedimentary rock types. Lamprophyre intrusions are
		present in the area with a variety of orientations. In most cases the
		lamprophyres are thought to be pre-mineralisation but are an un-favorable host
		rock for mineralisation and in most cases are barren.
		•The Burswood mineralisation is associated the Burswood fault itself, and
		proximal vein assemblages. The Burswood fault dips approximately 55
		degrees to the NW. It is structurally controlled by the Burswood fault and
		geochemically / rheologically within the magnetic dolerite unit. Gold
		mineralisation appears to be intimately related to albite, silica and sericite
		alteration and sulphide (mainly pyrite) intensity surrounding quartz vein
		assemblages. Visible gold has been observed in core, however does not
		appear to be common. It is thought to be analogous with the Walters in
		Centenary. The ~2-3cm wide sub-horizontal Darcent Veins are comparable to
		the Boon West Mineralisation in the Centenary, and sit in-between the
		Burswood, Moses and Darlot thrust structures. The Lower Pedersen lode is a
		depth extension of the Pedersen lode seen in the Pedersen area and dips at
		around 20°to the SE.
		•The Burswood structure is present in both the Eastern and Western magnetic
		dolerite unit. As with most mineralisation with Centenary, gold mineralisation
		drastically drops off outside the magnetic dolerite. To the North of the
		Burswood is a NW/SE (DMG) trending lamprophyre unit, interpreted to have
		intruded through a pre-existing structure, and is barren of any
		mineralisation. The Burswood model is accurate within fresh rock although the
		structure does extend to the surface.
Drill hole	• A summary of all information material to the understanding of the	•Drill hole information from Darlot drill programs, predominantly diamond core
Information	exploration results including a tabulation of the following information for	and face sampling, with minor number of RC samples, were used to support
	all Material drill holes:	the Mineral Resource estimate. The locations of drill samples, and the
	`o` easting and northing of the drill hole collar	geological logs of these samples were used to build the geological model, and
	`o` elevation or RL (Reduced Level – elevation above sea level in metres)	with the sample analyses, support the Mineral Resource estimate.
	of the drill hole collar
	`o` dip and azimuth of the hole
	`o` down hole length and interception depth
	`o` hole length.
	• If the exclusion of this information is justified on the basis that the
	information is not Material and this exclusion does not detract from the
	understanding of the report, the Competent Person should clearly explain
	_why this is the case. _
Data	• In reporting Exploration Results, weighting averaging techniques,	•Exploration results are not reported here, with most drill holes and face
aggregation	maximum and/or minimum grade truncations (eg cutting of high grades)	samples used to support the Mineral Resource estimate. Sludge samples are
methods	and cut-off grades are usually Material and should be stated.	recorded in the drill hole database but were not used in the Mineral Resource
	• Where aggregate intercepts incorporate short lengths of high grade	estimate due insufficient reliability of sampling methods.
	results and longer lengths of low grade results, the procedure used for
	such aggregation should be stated and some typical examples of such
	aggregations should be shown in detail.
	• The assumptions used for any reporting of metal equivalent values

Criteria	JORC Code explanation	Commentary
	should be clearly stated.
Relationship	• These relationships are particularly important in the reporting of	•The Burswood mineralisation is associated the Burswood fault, and proximal
between	Exploration Results.	vein assemblages. The Burswood fault dips approximately 55 degrees to the
mineralisation	• If the geometry of the mineralisation with respect to the drill hole angle is	NW. The Lower Pedersen lode is a depth extension of the Pedersen lode seen
widths and	known, its nature should be reported.	in the Pedersen area and dips at around 20°to the SE.
intercept	• If it is not known and only the down hole lengths are reported, there	•Drillholes are angled to drill as close to perpendicular to mineralisation as
lengths	should be a clear statement to this effect (eg ‘down hole length, true	possible, although this is difficult when drilling from underground locations,
	width not known’).	targeting lode positions along strike from the drill cuddies.
		•Intercepts reported are downhole length, and true width can generally be
		calculated because the dip of the lode is known from structural measurements
		of DD core.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts	•Isometric view representing the Darlot deposit (including the Burswood
	should be included for any significant discovery being reported These	Resource) is shown in announcement.
	should include, but not be limited to a plan view of drill hole collar
	locations and appropriate sectional views.
Balanced	• Where comprehensive reporting of all Exploration Results is not	•Exploration results are not reported here, with all drill holes used to support the
reporting	practicable, representative reporting of both low and high grades and/or	Mineral Resource estimate.
	widths should be practiced to avoid misleading reporting of Exploration
	Results.
Other	• Other exploration data, if meaningful and material, should be reported	•Burswood is part of the Darlot Gold Mine, and the lodes were geologically
substantive	including (but not limited to): geological observations; geophysical survey	interpreted primarily from DD geological logs. The geological logs were the
exploration	results; geochemical survey results; bulk samples – size and method of	foundation for the interpretation of the geological models.
data	treatment; metallurgical test results; bulk density, groundwater,	•No metallurgical testwork has been carried out to date on Burswood ore
	geotechnical and rock characteristics; potential deleterious or	samples. Testwork is planned.
	contaminating substances.	•No bulk density testwork has been carried out to date on Burswood samples.
		Burswood is similar in geological style of mineralisation to Centenary
		(analogous to the Walters Lode in Centenary), and is assumed to have a
		similar density to Centenary.
Further work	• The nature and scale of planned further work (eg tests for lateral	•Burswood is open along strike, with potential for additional gold mineralisation
	extensions or depth extensions or large-scale step-out drilling).	in these directions.
	• Diagrams clearly highlighting the areas of possible extensions, including	•Plans are currently being formulated for exploration drilling to test these targets,
	the main geological interpretations and future drilling areas, provided this	including geological controls on mineralisation and to gather samples for
	information is not commercially sensitive.	metallurgical testwork and bulk density testwork.

Section 3 Estimation and Reporting of Mineral Resources

(Criteria listed in section 1, and where relevant in section 2, also apply to this section.)

Criteria	JORC Code explanation	Commentary
Database	• Measures taken to ensure that data has not been corrupted by, for	•Data is entered directly into the data capture system in the field, and reviewed
integrity	example, transcription or keying errors, between its initial collection and	by a geologist before being imported to the main database. Geological Logging
	its use for Mineral Resource estimation purposes.	at Darlot is collected by geologists and entered directly into an Acquire
	• Data validation procedures used.	Database on a laptop computer. Logging is regularly checked by a senior
		company geologist to ensure the veracity and consistency of the data.
		•Logs cannot be finalised if key fields are missing, nor can codes not existing in
		the library be entered, ensuring continuity of data, and reducing data entry and
		transcription errors.
		•Once in the main database, only the database administrators can edit or
		change data, and all changes are logged by the system.
Site visits	• Comment on any site visits undertaken by the Competent Person and the	•The Competent Person(s) (CP) are based on site at Darlot and are familiar with
	outcome of those visits.	the geological setting of the deposit, sampling protocols, quality control and
	• If no site visits have been undertaken indicate why this is the case.	quality assurance (QA/QC) of sample data, resource modelling procedures,
		current site procedures and policies, and are confident that all data collected is
		verifiable and has been collected in line with industry best practices to support
		a Mineral Resource Estimate.
Geological	• Confidence in (or conversely, the uncertainty of ) the geological	•Gold mineralisation is associated with quartz veins and alteration haloes
interpretation	interpretation of the mineral deposit.	controlled by major D2 and D3 structures or secondary splays and cross linking
	• Nature of the data used and of any assumptions made.	structures. The quartz veins are hosted mainly by magnetic dolerite and
	• The effect, if any, of alternative interpretations on Mineral Resource	magnetic quartz dolerite rock types and, to a lesser extent, by non-magnetic
	estimation.	dolerite and felsic volcano-sedimentary rock types. Lamprophyre intrusions are
	• The use of geology in guiding and controlling Mineral Resource	present in the area with a variety of orientations. In most cases the
	estimation.	lamprophyres are thought to be pre-mineralisation but are an un-favorable host
	• The factors affecting continuity both of grade and geology.	rock for mineralisation and in most cases are barren. •The Burswood mineralisation is associated the Burswood fault itself, and
		proximal vein assemblages. The Burswood fault dips approximately 55
		degrees to the NW. It is structurally controlled by the Burswood fault and
		geochemically / rheologically within the magnetic dolerite unit. Gold
		mineralisation appears to be intimately related to albite, silica and sericite
		alteration and sulphide (mainly pyrite) intensity surrounding quartz vein
		assemblages. Visible gold has been observed in core, however does not
		appear to be common. It is thought to be analogous with the Walters in
		Centenary. The ~2-3cm wide sub-horizontal Darcent Veins are comparable to
		the Boon West Mineralisation in the Centenary, and sit in-between the
		Burswood, Moses and Darlot thrust structures. The Lower Pedersen lode is a
		depth extension of the Pedersen lode seen in the Pedersen area and dips at
		around 20°to the SE.
		•The Burswood structure is present in both the Eastern and Western magnetic
		dolerite unit. As with most mineralisation with Centenary, gold mineralisation
		drastically drops off outside the magnetic dolerite. To the North of the
		Burswood is a NW/SE (DMG) trending lamprophyre unit, interpreted to have

Criteria	JORC Code explanation	Commentary
		intruded through a pre-existing structure, and is barren of any mineralisation.
		The Burswood model is accurate within fresh rock although the structure does
		extend to the surface.
		•The sample data for the Burswood includes diamond drilling (DD) and reverse
		circulation (RC) with DD tail. Underground face samples taken by mine
		geologists were also included. Some holes were excluded due to erroneous
		collar and down-hole surveys and a default grade of 0.005g/t was assigned
		where the gold grade was absent. The interpretations supporting the
		geological models are predominantly based upon drillhole samples.
		•All geological interpretations for the Burswood are prepared in Darlot Mine
		Grid.
		•The Burswood deposit overlaps to a certain extent with the Pedersen area, and
		is itself analogous with the Walters lode in Centenary; hence alternative
		interpretations have not been considered as the geological controls are
		generally well understood. The interpretation is also well supported by
		numerous drillhole intercepts.
		•The Burswood Deposit is sub-divided into four mineralised domains based on
		geology and structure, with the steeper fault hosted domains such as the
		Burswood and Moses separated from the Darcent veins and the Lower
		Pedersen lodes. Those domains with similar characteristics were grouped
		geo-statistically.
		•The site geologists prepared the interpretations of the mineralised lodes within
		these three domains and the 37 lodes are modeled as individual wireframes.
		•The grade in the lodes is controlled by both structure and host lithology, in that
		typically the best grades are hosted by the Magnetic Dolerite and Felsic
		intrusions, with comparatively lesser grades observed in the other host rocks
		such as the non-magnetic dolerite. Consequently host lithology for lodes was a
		key factor considered for the estimate.
Dimensions	• The extent and variability of the Mineral Resource expressed as length	•The Burswood deposit has an overall strike length of about 900 m and a width
	(along strike or otherwise), plan width, and depth below surface to the	of about 600 m and extends from the natural surface to a depth of
	upper and lower limits of the Mineral Resource.	approximately 650 m.
Estimation and	• The nature and appropriateness of the estimation technique(s) applied	•As previously noted, the Mineral Resource estimate has been divided into four
modelling	and key assumptions, including treatment of extreme grade values,	(4) domains for the purpose of resource estimation. The model was
techniques	domaining, interpolation parameters and maximum distance of	constructed with Leapfrog software.
	extrapolation from data points. If a computer assisted estimation method	•The 37 wireframes mentioned above were imported directly into Vulcan for
	was chosen include a description of computer software and parameters	grade estimation and resource reporting.
	used.	•Vulcan was used for block modelling, grade interpolation, and Mineral
	• The availability of check estimates, previous estimates and/or mine	Resource classification and reporting. Snowden Supervisor was used for
	production records and whether the Mineral Resource estimate takes	geostatistical analyses. The Au domain interpretations were based upon both
	appropriate account of such data.	geology and grade.
	• The assumptions made regarding recovery of by-products.	•Significant amounts of lamprophyre which are generally barren cross-cut some
	• Estimation of deleterious elements or other non-grade variables of	of the lodes, some of the larger ones were wire-framed by the site geologists.
	economic significance (eg sulphur for acid mine drainage	These areas are flagged as waste in the final model.
	_characterisation). _	•TheBurswoodlodes aremostly yet to bemined sonomining datais available.

JORC Code explanation	Commentary	Commentary
• In the case of block model interpolation, the block size in relation to the		No check estimates are known to have been completed, however four
average sample spacing and the search employed.		estimates have been completed since discovery and all are relatively
• Any assumptions behind modelling of selective mining units.		comparable albeit with some upgrades due to input from higher grade samples
• Any assumptions about correlation between variables.		from more recent drilling.
• Description of how the geological interpretation was used to control the	•	No significant amounts of deleterious elements have historically been
resource estimates.		encountered or estimated in the Burswood deposit, and hence have never
• Discussion of basis for using or not using grade cutting or capping. • The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available.	•	been considered for estimation in the Mineral Resource. Pyrite does not occur in significant enough quantities to be considered for acid mine drainage (AMD) considerations. All of the Burswood lodes are entirely in fresh rock, with the exception of the
		Burswood and Moses which extend into the regolith, and bulk densities were
		adjusted for this factor.
	•	All lodes were sub-celled to 1x1x1m block sizes with a nominal parent cell size
		of 5m (X) x 5m (Y) x 5m (Z), to more accurately represent the closer spaced
		drilling; this was expanded up to 40m (X) x 40m (Y) x 5m (Z) for areas where
		the drill spacing was larger. Typical drill spacing in Burswood ranges up to
		40x40m, which is reduced to around 20x20m in the grade control areas. The
		table below summarizes the search parameters used.
	•
	•	All gold grades were estimated using Ordinary Kriging and Simple Kriging. The
		OK estimated grades were applied to the Indicated resource blocks only while
		the Inferred resource blocks and unclassified blocks were assigned the SK
		estimated grade.
	•	Samples were composited to 1 m intervals.
	•	A variety of top cuts were applied to the composites of up to 40g/t; dependent
		on the statistics for each domain. This was based on assessment of outliers
		and histogram skewness.

Criteria	JORC Code explanation	Commentary
		•Burswood is primarily a gold deposit and other elements have not been
		considered for analysis.
		•The estimates were validated in three ways, by on-screen visual assessments,
		declustered sample mean grades vs. block mean grades for each domain and
		swath plots.
Moisture	• Whether the tonnages are estimated on a dry basis or with natural	•Tonnages are estimated on a dry basis.
	moisture, and the method of determination of the moisture content.
Cut-off	• The basis of the adopted cut-off grade(s) or quality parameters applied.	•All geological interpretations were completed in Leapfrog by site geologists
parameters		based on both grade and lithology, and an approximate lower cut-off of around
		0.5g/t.
Mining factors	• Assumptions made regarding possible mining methods, minimum mining	•Domains were modelled to a minimum 1 m plan width.
or	dimensions and internal (or, if applicable, external) mining dilution. It is
assumptions	always necessary as part of the process of determining reasonable
	prospects for eventual economic extraction to consider potential mining
	methods, but the assumptions made regarding mining methods and
	parameters when estimating Mineral Resources may not always be
	rigorous. Where this is the case, this should be reported with an
	_explanation of the basis of the mining assumptions made. _
Metallurgical	• The basis for assumptions or predictions regarding metallurgical	•Metallurgical test work is planned but is yet to be carried out on the Burswood.
factors or	amenability. It is always necessary as part of the process of determining
assumptions	reasonable prospects for eventual economic extraction to consider
	potential metallurgical methods, but the assumptions regarding
	metallurgical treatment processes and parameters made when reporting
	Mineral Resources may not always be rigorous. Where this is the case,
	this should be reported with an explanation of the basis of the
	metallurgical assumptions made.
Environmen-	• Assumptions made regarding possible waste and process residue	•Darlot has had an extensive mining history and as such has full infrastructure
tal factors or	disposal options. It is always necessary as part of the process of	for the treatment of processing and mining residues.
assumptions	determining reasonable prospects for eventual economic extraction to	•Darlot is certified as ISO14001 compliant for environmental management and
	consider the potential environmental impacts of the mining and	is also certified for International Cyanide Management Code.
	processing operation. While at this stage the determination of potential
	environmental impacts, particularly for a greenfields project, may not
	always be well advanced, the status of early consideration of these
	potential environmental impacts should be reported. Where these
	aspects have not been considered this should be reported with an
	explanation of the environmental assumptions made.
Bulk density	• Whether assumed or determined. If assumed, the basis for the	•A dry (in situ) bulk density of 2.90 t/m3has been used for all lithologies. This
	assumptions. If determined, the method used, whether wet or dry, the	value has been historically assigned for the Darlot project area.
	frequency of the measurements, the nature, size and representativeness	•Data is available for bulk density determinations and is recorded in Red 5
	of the samples.	Limited’s database, and was assessed by previous operators of the Darlot
	• The bulk density for bulk material must have been measured by methods	Gold Mine. The CP is satisfied that the value used is verifiable and typical
	that adequately account for void spaces (vugs, porosity, etc), moisture	given their knowledge and experience in similar deposits in the Eastern
	and differences between rock and alteration zones within the deposit.	Goldfields of Western Australia.
	• _Discuss assumptions for bulkdensity estimates used inthe evaluation _	•NoDensity testwork has beencarried out on Burswood as yethowever itis

Criteria	JORC Code explanation	Commentary
	process of the different materials.	analogous to the Walters in Centenary and should therefore have a similar bulk
		density. Density test work will be carried out when drilling of this deposit
		resumes.
Classification	• The basis for the classification of the Mineral Resources into varying	•The Mineral Resource is classified as Indicated and Inferred.
	confidence categories.	•The geological evidence for mineralisation occurrence and continuity was
	• Whether appropriate account has been taken of all relevant factors (ie	observed in drill samples and significant underground workings on the
	relative confidence in tonnage/grade estimations, reliability of input data,	Burswood lodes. For classification of Indicated; a drill spacing of <30 x 30 m
	confidence in continuity of geology and metal values, quality, quantity and	was required. For classification of Inferred; < 60 x 60 m. Any blocks outside
	distribution of the data).	these parameters were unclassified. Drill sampling and analytical techniques
	• Whether the result appropriately reflects the Competent Person’s view of	for DD and RC drilling as well as face sampling are well documented by Red 5
	the deposit.	Limited, as well as rigorous QAQC protocols and documentation to support an
		Indicated Resource Classification where geological confidence allows.
		•The classification of the Mineral Resource took into account the geological
		understanding of the deposit, quality of the samples, quality and quantity of
		density data, drill hole spacing, and the quality of the block grade estimates.
		Geological understanding and quality of samples is sufficient to assume
		geological and grade continuity in the Indicated volumes.
		•All relevant factors have been taken into account when determining the
		resource classification for Burswood deposit, and the results are deemed by
		the CP to be fair and relevant.
Audits or	• The results of any audits or reviews of Mineral Resource estimates.	•The Mineral Resource Estimate was peer reviewed internally by Goldfields
reviews		Australia, who were the previous owners of the Darlot Gold Mine.
Discussion of	• Where appropriate a statement of the relative accuracy and confidence	•The Mineral Resource estimate is considered a global resource for both
relative	level in the Mineral Resource estimate using an approach or procedure	Indicated and Inferred Resource estimations.
accuracy/	deemed appropriate by the Competent Person. For example, the	•The CP is comfortable that the diamond drilling and subsequent sampling
confidence	application of statistical or geostatistical procedures to quantify the	protocols and procedures that the estimate is based on is sufficiently accurate
	relative accuracy of the resource within stated confidence limits, or, if	to support this Mineral Resource estimate.
	such an approach is not deemed appropriate, a qualitative discussion of	•Fully surveyed voids have been used to deplete the model of already mined
	the factors that could affect the relative accuracy and confidence of the	material.
	estimate.
	• The statement should specify whether it relates to global or local
	estimates, and, if local, state the relevant tonnages, which should be
	relevant to technical and economic evaluation. Documentation should
	include assumptions made and the procedures used.
	• These statements of relative accuracy and confidence of the estimate
	should be compared with production data, where available.

JORC Code, 2012 Edition – Table 1 for the Reserves covering the Centenary Combined, Pederson, Lord South Lower, CDA Oval and Burswood – Part of the Darlot Deposit

Section 4 Estimation and Reporting of Ore Reserves

(Criteria listed in section 1, and where relevant in sections 2 and 3, also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral	• Description of the Mineral Resource estimate used as a basis for the	•The mineral resource estimate covers the Centenary Combined, Pederson,
Resource	conversion to an Ore Reserve.	Lord South Lower, CDA Oval and Burswood – Part of the Darlot Deposit. The
estimate for	• Clear statement as to whether the Mineral Resources are reported	mineral resource estimates were completed on the individual models from
conversion to	additional to, or inclusive of, the Ore Reserves.	which the reserve estimate was completed using data on actual mining and
Ore Reserves		processing costs at Darlot
		•The Mineral Resources are reported inclusive of the Ore Reserve
Site visits	• Comment on any site visits undertaken by the Competent Person and the	•The Competent Person together with other Red 5 Senior Technical Staff
	outcome of those visits.	including Geologists, Mining Engineers and contract Geotechnical Engineer all
	• If no site visits have been undertaken indicate why this is the case.	work full time at the Darlot Gold Mine
Study status	• The type and level of study undertaken to enable Mineral Resources to	•The Darlot Underground Gold Mine has been operated continuously since 1995
	be converted to Ore	with operating parameters well understood
	• Reserves.	•A Pre-Feasibility Study standard study was undertaken to using actual Darlot
	• The Code requires that a study to at least Pre-Feasibility Study level has	Mining, Processing and Administration costs to assess the economic viability of
	been undertaken to convert Mineral Resources to Ore Reserves. Such	mining extensions to existing work areas
	studies will have been carried out and will have determined a mine plan	•Material Modifying Factors have been assessed
	that is technically achievable and economically viable, and that material
	_Modifying Factors have been considered. _
Cut-off	• The basis of the cut-off grade(s) or quality parameters applied.	•Break even cut off of 2.3 g/t applied. Based actual mining and processing
parameters		costs at Darlot and assumes the process plant will be operated at full capacity
		with the addition of additional ore from the Red 5 owned King of the Hills Mine.
Mining factors	• The method and assumptions used as reported in the Pre-Feasibility or	•Indicated Resources were converted to Probable Ore Reserves subject to mine
or	Feasibility Study to convert the Mineral Resource to an Ore Reserve (i.e.	design physicals and an economic evaluation.
assumptions	either by application of appropriate factors by optimisation or by	•Selected mining method deemed appropriate based on geotechnical advice
	preliminary or detailed design).	and previous experience and history at Darlot.
	• The choice, nature and appropriateness of the selected mining method(s)	•Assumptions have been based on actual mining performance at Darlot with
	and other mining parameters including associated design issues such as	Geotechnical Assessments undertaken over the years to develop a
	pre-strip, access, etc.	comprehensive ground support and reinforcement regime for conditions
	• The assumptions made regarding geotechnical parameters (eg pit	encountered at Darlot.
	slopes, stope sizes, etc), grade control and pre-production drilling.	•Stopes have been designed based on an economic cut-off of 2.3 g/t.
	• The major assumptions made and Mineral Resource model used for pit	•Mining dilution of 15 to 20% has been used.
	and stope optimisation (if appropriate).	•Mining recovery factor of 95% is applied.
	• The mining dilution factors used.	•Minimum stope widths of 2.0m for Longhole stopes
	• The mining recovery factors used.	•Designed stopes with greater than 50% inferred blocks are excluded from the
	• Any minimum mining widths used.	reported reserve.
	• The manner in which Inferred Mineral Resources are utilised in mining	•Darlotis anoperating undergroundmine and as suchalltherequired

Criteria	JORC Code explanation	Commentary
	studies and the sensitivity of the outcome to their inclusion.	infrastructure is in place and operational. Minor Capital Development will be
	• The infrastructure requirements of the selected mining methods.	required to extract all of the ore reserve.
Metallurgical	• The metallurgical process proposed and the appropriateness of that	•The ore reserve will be processed at the Darlot processing plant which utilizes
factors or	process to the style of mineralisation.	a CIL (Carbon in Leach) circuit for the extraction of gold. Reserves are based
assumptions		on historical plant data and historical recoveries. Recoveries of 94% have
		been used.
	• Whether the metallurgical process is well-tested technology or novel in	•The Darlot processing plant is currently operating and is a conventional design.
	nature.	•No additional testwork was undertaken as all the ore reserve is contained
	• The nature, amount and representativeness of metallurgical test work	within previously mined orebodies which are currently being processed on site.
	undertaken, the nature of the metallurgical domaining applied and the	•Recoveries through the Darlot processing plant have averaged 94%,
	corresponding metallurgical recovery factors applied.	•There have been no deleterious elements identified while processing Darlot
	• Any assumptions or allowances made for deleterious elements.	ore.
	• The existence of any bulk sample or pilot scale test work and the degree	•Recovery based on actual historical performance.
	to which such samples are considered representative of the orebody as a	•Not applicable
	whole.
	• For minerals that are defined by a specification, has the ore reserve
	estimation been based on the appropriate mineralogy to meet the
	specifications?
Environmen-	• The status of studies of potential environmental impacts of the mining	•The Darlot Gold Mine is currently compliant with all legal and regulatory
tal	and processing operation. Details of waste rock characterisation and the	requirements. Mine waste is currently stored within the open pit or used to
	consideration of potential sites, status of design options considered and,	backfill completed stopes. All government permits and licenses and statutory
	where applicable, the status of approvals for process residue storage and	approvals are in place for this operating mine.
	waste dumps should be reported.
Infrastructure	• The existence of appropriate infrastructure: availability of land for plant	•Darlot is a well-established gold mine and has all the required infrastructure in
	development, power, water, transportation (particularly for bulk	place including a 400 person accommodation village, process plant, offices and
	commodities), labour, accommodation; or the ease with which the	workshops, airstrip, water supply and road access.
	infrastructure can be provided, or accessed.
Costs	• The derivation of, or assumptions made, regarding projected capital costs	•All capital infrastructure is in place- minimal capital is required for ongoing
	in the study.	extraction of the ore reserves. Provisions made for ongoing sustaining capital
	• The methodology used to estimate operating costs.	based on historical performance.
	• Allowances made for the content of deleterious elements.	•Operating costs for Processing, Mining, Geology and Administration costs have
	• The derivation of assumptions made of metal or commodity price(s), for	been estimated as a cost per ore tonne based on actual site costs. An
	the principal minerals and co- products.	assumption has been made that the process plant will also treat ore from the
	• The source of exchange rates used in the study.	King of the Hills Gold Mine reducing the fixed cost per tonne for processing and
	• Derivation of transportation charges. • The basis for forecasting or source of treatment and refining charges,	administration. •There have been no deleterious elements identified while processing Darlot
	penalties for failure to meet specification, etc. • The allowances made for royalties payable, both Government and private.	ore. •Revenue was based on an AUD gold price of $1,650/oz, based on the gold price at the time the reserves were being calculated and used for the Darlot 2018 Budget.
		•Perth Mint contractual transport and refining charges built into the cost model
		•Government royalties built into the cost model.

Criteria	JORC Code explanation	Commentary
Revenue	• The derivation of, or assumptions made regarding revenue factors	•Revenue was based on an AUD gold price of $1,650/oz, based on the gold
factors	including head grade, metal or commodity price(s) exchange rates,	price at the time the reserves were being calculated and used for the Darlot
	transportation and treatment charges, penalties, net smelter returns, etc.	2018 Budget.
	• The derivation of assumptions made of metal or commodity price(s), for	•Perth Mint contractual transport and refining charges built into the cost model
	the principal metals, minerals and co-products.
Market	• The demand, supply and stock situation for the particular commodity,	•Gold bullion is sold direct at market prices to the Perth Mint with no hedges in
assessment	consumption trends and factors likely to affect supply and demand into	place. Historical gold price and forward looking estimates have been used for
	the future.	the gold price.
	• A customer and competitor analysis along with the identification of likely	•Not applicable
	market windows for the product.
	• Price and volume forecasts and the basis for these forecasts.	•Not applicable
	• For industrial minerals the customer specification, testing and acceptance	•Not applicable
	_requirements prior to a supply contract. _
Economic	• The inputs to the economic analysis to produce the net present value	•All costs assumptions are made based on historical performance from Darlot
	(NPV) in the study, the source and confidence of these economic inputs	and current economic forecast seen as representative of current market
	including estimated inflation, discount rate, etc.	conditions.
	• NPV ranges and sensitivity to variations in the significant assumptions	•Sensitivity to gold price, grade, recovery and costs were evaluated.
	_and inputs. _
Social	• The status of agreements with key stakeholders and matters leading to	•Agreements are in place and are current with all key stakeholders
	social licence to operate.
Other	• To the extent relevant, the impact of the following on the project and/or	•None identified
	on the estimation and classification of the Ore Reserves:
	• Any identified material naturally occurring risks.	•None identified
	• The status of material legal agreements and marketing arrangements.	•Darlot is currently compliant with all legal and regulatory requirements. All
	• The status of governmental agreements and approvals critical to the	government permits and licenses and statutory approvals are in place
	viability of the project, such as mineral tenement status, and government
	and statutory approvals. There must be reasonable grounds to expect
	that all necessary Government approvals will be received within the
	timeframes anticipated in the Pre-Feasibility or Feasibility study. Highlight
	and discuss the materiality of any unresolved matter that is dependent on
	a third party on which extraction of the reserve is contingent.
Classification	• The basis for the classification of the Ore Reserves into varying	•All Ore Reserves include Proved (if any) and Probable classifications.
	confidence categories.
	• Whether the result appropriately reflects the Competent Person’s view of	•The results accurately reflect the Competent Persons view of the deposit.
	the deposit.	•None.
	• The proportion of Probable Ore Reserves that have been derived from
	Measured Mineral Resources (if any).
Audits or	• The results of any audits or reviews of Ore Reserve estimates.	•There have been no external reviews of this Ore reserve estimate.
reviews
Discussion of	• Where appropriate a statement of the relative accuracy and confidence	•This ore reserve statement has been prepared in accordance with the
relative	level in the Ore Reserve estimate using an approach or procedure	guidelines of the 2012 JORC Code. The resource estimates used to estimate
accuracy/	deemed appropriate by the Competent Person. For example, the	the ore reserves are reliant on block models which were estimated using drill
confidence	application of statistical or geostatistical procedures to quantify the	hole data drilled to a density required for classification of an indicated resource.
	relative accuracy of the reserve within stated confidence limits, or, if such	•Mining dilutionand orerecoverieswere based on information from historical

Criteria	JORC Code explanation	Commentary
	an approach is not deemed appropriate, a qualitative discussion of the	mining operations at Darlot
	factors which could affect the relative accuracy and confidence of the	•Reconciliation for the past 2 years of underground production at Darlot
	estimate.	indicates that 20% more ore tonnes were mined as compared to the design, at
	• The statement should specify whether it relates to global or local	a similar grade and that the gold produced from the process plant indicated that
	estimates, and, if local, state the relevant tonnages, which should be	the grade control grades should have been 10% higher.
	relevant to technical and economic evaluation. Documentation should
	include assumptions made and the procedures used.
	• Accuracy and confidence discussions should extend to specific
	discussions of any applied Modifying Factors that may have a material
	impact on Ore Reserve viability, or for which there are remaining areas of
	uncertainty at the current study stage.
	• It is recognised that this may not be possible or appropriate in all
	circumstances. These statements of relative accuracy and confidence of
	_the estimate should be compared with production data, where available. _

AI assistant

VAULT MINERALS LIMITED — Capital/Financing Update 2017

65991_rns_2017-12-20_f390c184-593f-44ea-9633-06b7e6d8e1b6.pdf

21 December 2017

Maiden 895koz JORC 2012 Resource and 131koz Ore Reserve for Darlot Gold Mine Sets Foundation for Gold Production Outlook for 2018

Key Points

Measured, Indicated and Inferred Mineral Resource of 6.0Mt @ 4.6 g/t Au for 895koz of contained gold

Operations, Development and Financial Update

2018 Production Guidance and Outlook

Darlot Gold Mine – JORC 2012 Mineral Resource

Summary of Darlot Mineral Resource Estimates

Geology and Geological Interpretation

Drilling Techniques

Sampling and Sub-Sampling Techniques

Sample Analysis Method

Estimation Methodology

Cut-off Grades

Classification

Other Material Modifying Factors

Summary of Darlot Ore Reserve Estimates

Material Assumptions, Outcomes from Study and Economic Assumptions

Criteria Used for Classification

Mining Methods and Mining Assumptions

Processing Methods and Processing Assumptions

Cut-Off Grade

Block Model Estimation Methodology

Material Modifying Factors and Approvals

OPERATIONS, DEVELOPMENT AND FINANCIAL UPDATE

Extensions to existing mining areas program (Remnant Mining)

Darlot Mill Performance

King of the Hills Development

Financial

2018 PRODUCTION GUIDANCE AND OUTLOOK

ENDS

For more information:

Investors/Shareholders:

Media:

About Red 5 Limited

Competent Person’s Statements

Mineral Resource

Ore Reserve

Forward-Looking Statements

Change from previous public report for the Resource estimates for the Darlot Deposit

JORC Code, 2012 Edition – Table 1 for the Centenary Combined Resource – Part of the Darlot Deposit

Section 1 Sampling Techniques and Data

Section 2 Reporting of Exploration Results

Section 3 Estimation and Reporting of Mineral Resources

JORC Code, 2012 Edition – Table 1 for the Pederson Resource – Part of the Darlot Deposit

Section 1 Sampling Techniques and Data

Section 2 Reporting of Exploration Results

Section 3 Estimation and Reporting of Mineral Resources

JORC Code, 2012 Edition – Table 1 for the Lords South Lower Resource – Part of the Darlot Deposit Section 1 Sampling Techniques and Data

Section 2 Reporting of Exploration Results

Section 3 Estimation and Reporting of Mineral Resources

JORC Code, 2012 Edition – Table 1 for the CDA Oval Resource – Part of the Darlot Deposit

Section 1 Sampling Techniques and Data

Section 2 Reporting of Exploration Results

Section 3 Estimation and Reporting of Mineral Resources

JORC Code, 2012 Edition – Table 1 for the Burswood Resource – Part of the Darlot Deposit

Section 1 Sampling Techniques and Data

Section 2 Reporting of Exploration Results

Section 3 Estimation and Reporting of Mineral Resources

JORC Code, 2012 Edition – Table 1 for the Reserves covering the Centenary Combined, Pederson, Lord South Lower, CDA Oval and Burswood – Part of the Darlot Deposit

Section 4 Estimation and Reporting of Ore Reserves

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VAULT MINERALS LIMITED Capital/Financing Update 2017