SIANA GOLD PROJECT DEVELOPMENT

The Siana development comprises an open pit operation followed by an underground mine, with ore treated through a conventional modern gravity and carbon-in-leach plant to produce gold dore.

The project, as originally designed, delivers a minimum 849,000 ounces of gold production at a cash cost of sub US$400 per ounce over a ten year life.  Extensions to the mine life are currently under review.

The Siana orebody remains open in the north and south, and below 400 metres vertical.

Early pre-project commitment site activity commenced in June 2010 with the mine access road, the administration building and de-watering bores.  Construction was severely hampered by a sustained wet season which resulted in two major concrete pours being postponed  for nine weeks

The project is currently in the commissioning phase with the first gold pour imminent.

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