Paddington Resource Statement (including Ore Reserve)
(31 December 2014)

Paddington Ore Reserve
(31 December 2014)

Mineral Resource and Ore Reserve status changes between the previous publicly released estimates (for 31 December 2013) and those reported herein are due to a combination of :

• Addition from acquisition.
• Mineral resource update and accompanying change or addition of ore reserve.
• Re-definition of open-cut and underground reporting areas at Enterprise.  An Enterprise underground reserve was introduced in favour of a Stage 4 open pit cutback.
• Ore Reserve modification due to lower gold price at all projects.
• Depletion from mining.
• Change in reporting area allocation (for example some parts of the Racetrack, mineral resource were previously reported under the ‘Mt Pleasant’ umbrella).
• Resource depletion due to consideration of economic factors.

Geology of the Kalgoorlie region consists of Archaean greenschist facies mafic to ultramafic volcanics and intrusives with later intermediate to felsic volcanics, volcaniclastics and sediments.  Gold mineralisation occurs in a number of different settings which typically include the interaction of structural pathways with stratigraphically and rheologically reactive host rocks.  Ore bearing alteration assemblages typically comprise ankerite-sericite-albite-silica-biotite-pyrite-pyrrhotite.

Open cut ore mining is in progress at the Enterprise Deposit (Ora Banda Project) where the bulk of mill feed ore is being sourced, supplemented by the small Wattlebird open cut mine, and by ore stockpiles from previously mined satellite open cut operations.  Underground mining is in progress at the Homestead Underground Mine (Mount Pleasant Project), which includes the Black Flag West Vein, and at the Bullant Underground Mine (Carbine-Bullant Project).

The Paddington Operation has a strong pipeline of potential open cut and underground projects which are being targeted by staged resource development programs.  The project pipeline is capable of supporting a long-term Life of Mine (LoM) plan.

For further information please see the company’s Quarterly Exploration Reports.

Competent Persons Statement

The information in this report that relates to Mineral Resources is based on information compiled by Peter Ruzicka and Brad Daddow for Paddington, and Richard Sulway for Bullabulling.  The information in this report that relates to Mineral Reserves is compiled by Guy Simpson and Elizabeth Jones.  Exploration drilling results have been compiled by Peter Ruzicka. 

Peter Ruzicka, Guy Simpson and Elizabeth Jones are all members of the Australasian Institute of Mining and Metallurgy and full-time employees of Norton Gold Fields Limited.  Brad Daddow is a member of the Australian Institute of Geoscientists and a former full-time employee of BM Geological Services PL, a consulting group to Norton Gold Fields Limited.  Richard Sulway is a member of the Australasian Institute of Mining and Metallurgy, and a former full-time employee of Snowden, a consulting group to Norton Gold Fields Limited.

Guy Simpson, Elizabeth Jones, Peter Ruzicka, Brad Daddow and Richard Sulway all have sufficient experience relevant to the styles of mineralisation and types of deposits which are covered in this report, and to the activity which they are undertaking to qualify as Competent Persons as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Guy Simpson, Elizabeth Jones, Peter Ruzicka, Brad Daddow and Richard Sulway all consent to the inclusion in this report of matters based on their information in the form and context in which it appears.