Category

Quantity
(tonnes)

Gold Grade
(gr/mt)

Contained Gold
(ounces)

430,000

7.92

110,000

3,187,000

4.43

454,000

3,617,000

564,000

3,675,000

2.06

244,000

4,816,000

1.53

238,000

1,281,000

4.01

165,000

9,772,000

647,000

2,709,000

1.70

148,000

8,405,000

4.34

1,172,000

11,114,000

1,320,000

Notes to Reserves and Resources
The terms “Mineral Reserve”, “Proven Mineral Reserve” and “Probable Mineral Reserve” used in this website are Canadian mining terms as defined in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) Standards on Mineral Resources and Mineral Reserves Definitions and Guidelines adopted by the CIM Council on August 20, 2000. The terms “Mineral Resource”, “Measured Mineral Resource”, “Indicated Mineral Resource”, and “Inferred Mineral Resource” used in this website are Canadian mining terms as defined in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects under the guidelines set out in the CIM Standards.

Mineral reserves for Fosterville have been estimated in accordance with the AusIMM JORC Code and have been reconciled to CIM Standards as prescribed by National Instrument 43-101. 

All mineral resources are exclusive of mineral reserves. 

Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Mineral reserves and resources are rounded to 1,000 tonnes, 0.01 g/t gold and 1,000 ounces. Minor discrepancies in summations may occur due to rounding.

Mineral reserves for Fosterville were calculated using the following parameters: exchange rate A$/US$0.70; gold price $675/oz; cut-off grade applied was variable for underground ore depending on width, mining method and ground conditions; dilution of 10%-20% and mining recovery of 70%-100% were applied depending on mining method.
 
Mineral resources for Fosterville were calculated using the following economic parameters: exchange rate A$/US$0.70; gold price $750/oz; cut-off grade applied were 0.5 g/t gold for oxide, 1.0 g/t gold for near-surface sulphide (above 5050mRL <100m from surface) and 3.0 g/t gold for underground sulphide (below 5050mRL >100m from surface).

Mineral reserve estimates for Fosterville were prepared by Roddy Ormonde, Mine Technical Superintendent, Northgate and Marcus Binks, Processing Manager, Northgate. Mr Ormonde is a member of the Australasian Institute of Mining and Metallurgy and has over 16 years of relevant engineering experience. Mr Binks is a member of the Australasian Institute of Mining and Metallurgy and has over 15 years of relevant metallurgical experience.

Mineral resource estimates for Fosterville were prepared by Ian Holland, Production Manager, Northgate and Simon Hitchman, District Exploration Geologist, Northgate. Mr Holland is a member of the Australasian Institute of Mining and Metallurgy and has over 13 years of relevant geological experience. Mr Hitchman is a member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists and has over 21 years of relevant geological experience.

Note to US Investors
This website uses the terms “measured”, “indicated” and “inferred” resources. United States investors are advised that while such terms are recognized and required by Canadian regulators, the SEC does not recognize them. Inferred resources have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred resource exists, or is economically or legally mineable.