Mineral Reserve and Resource Statement

The Mineral Resource and Reserve Estimates have been determined in accordance with the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”

Mineral Resource Estimate

Table 1: Woodlark Global Resource Estimate

Category
(>0.4g/t lower cut)

Tonnes
(Million)
Grade
g/t Au
Ounces
(Thousand)
Measured 21.24 1.10 754
Indicated 18.94 0.98 597
Inferred 6.80 1.00 222
Total 47.00 1.04 1,573

Resource Estimations were undertaken for the Kulumadau, Busai, Woodlark King and Munasi deposits by independent consultants, MPR Geological Consultants of Perth, using drilling information from several generations of exploration.

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Mineral Reserve Estimate

Table 6:  Woodlark Global Reserve Estimate

Total by Deposit

Category
(>0.4g/t lower cut)

Tonnes
(Mt)
Grade
g/t
Ounces
(oz)
Busai Proven
Probable
9.3
4.3
1.03
0.87
307,300
120,900
Kulumadau Proven
Probable
7.4
5.2
1.37
1.17
324,700
196,900
Woodlark King Proven
Probable
1.9
0.8
1.06
0.84
65,00
22,800
Total Ore Reserve Proven
Probable
Total
18.6
10.4
28.9
1.17
1.02
1.12
697,00
340,600
1,037,600

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