Quarterly Activities Report to 30 June 2022

Tomingley Gold Operations (Tomingley)

• Gold production of 23,091oz exceeded forecast for the quarter, with site operating cash costs at A$940/oz and AISC of A$1,150/oz.
• Gold sales for the quarter of 21,135oz for revenue of A$52.4M at an average price of A$2,481/oz.
• FY2022 full year production of 66,802oz has exceeded guidance of 55,000oz to 60,000oz, with AISC of A$1,460/oz below cost guidance of A$1,500/oz to $1,650/oz.
• FY2023 guidance for Tomingley is 55,000oz to 60,000oz production at an AISC of $A1,650/oz to$1,900/oz.

Tomingley Gold Extension Project (TGEP)

• The Environmental Impact Statement has been through public exhibition with all submissions now received by the NSW Department of Planning and Environment. The Company has responded to those submissions and provided further information as requested. The expected timing of Project Approval is in the current September quarter.

Exploration

• The initial Inferred Mineral Resource for the Boda Deposit (see ASX Announcement 30 May 2022) was estimated at:
  • 624 million tonnes grading at 0.51g/t AuEq* for 10.1 MEqoz (5.21Moz Au, 0.90Mt Cu)
    
    
• The estimate was based on approximately 71,400 metres of drilling using a 0.3g/t gold equivalent (AuEq) cutoff deemed appropriate for potential open cut mining.
  
  
• The Resource included a sub-component for the potential use of bulk-tonnage underground mining using a cutoff grade of 0.4g/t AuEq of:
  • 353 million tonnes grading at 0.63g/t AuEq* for 7.1 MEqoz (3.72Moz Au, 0.62Mt Cu)
    
    
• The Global Mineral Resource (Indicated and Inferred) for the Roswell Deposit was updated after further drilling (see ASX Announcement 3 May 2022). The resource increased by 37% and now stands at:
  • 14.1 million tonnes grading 2.00g/t gold (904,000oz)
    
    
• The Global Mineral Resource (Indicated and Inferred) for the Tomingley Extension Project, which includes both the Roswell and San Antonio Deposits now stands at:
  • 21.4 million tonnes grading 1.90g/t gold (1,310,000oz)
    
    
• Drilling for the purpose of estimating an initial shallow Inferred Mineral Resource at Kaiser, located 700m north-west of Boda, is nearing completion with a resource estimation expected in Q4 2022.

Corporate

• Cash, bullion and listed investments position totalled A$124.3M.
• Shareholding of ASX listed gold producer Calidus Resources Ltd (ASX:CAI) was ~9.7% at end of June quarter.