Ann: Dalgaranga Gold Project Operational Update, page-2

' July 25 th 2018 Australian Securities Exchange Limited Via Electronic Lodgement DALGARANGA GOLD PROJECT OPERATIONAL UPDATE: MILL PERFORMANCE TEST COMPLETED AS RAMP UP CONTINUES  The Process Plant Performance Test has been undertaken and passed, key aspects include: o Design Mill Throughput Rate of 2.5Mtpa consistently achieved o Overall Process Plant availability has exceeded expectations +95% month to date o Gold Recovery of +94% consistently achieved so far in July  During the Process Plant commissioning, a total of ~7,400 ounces have been recovered to date.  Mining Ramp Up is continuing, with maximum scheduled LOM mining rates expected to be achieved late in the current quarter.  Commercial Production expected late in the current quarter or early next quarter.  Delivery into the existing A$1,716 gold hedges has commenced.  Cash Balance of A$25.1 million at the end of June. Gascoyne Resources Limited (“Gascoyne” or “Company”)(ASX:GCY) is pleased to provide an update on the commissioning and performance test of the new 2.5Mtpa processing plant and ramp up of operations at the Company’s 100% owned Dalgaranga Gold Project. Dalgaranga contains a Measured, Indicated and Inferred Resource of 31.1Mt @ 1.3 g/t for 1,320,000 ounces of contained gold, which is inclusive of Proved and Probable Ore Reserves of 15.3Mt @ 1.3 g/t for 612,000 ounces of gold (see Figures 1 & 2 and Tables 1 & 2 below). The Company remains focused not only on ramping up to full production, but also an ongoing aggressive exploration effort aimed at increasing the mine life towards 8-10 years, as well as progressing the Glenburgh Gold Project, the Company’s second +1.0 million ounce gold project in Western Australia......'



Well done GCY ! Can someone commends about its reserves please? Is it big? how big? able to compare with other goldies? thanks.