ann: major resource%reserve upgrade paulson

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MAJOR RESOURCE & RESERVE
UPGRADE GIVES PAULSENS
+5-YEAR MINE LIFE Resources rise 38% to 555,000oz, Reserves increase 81% to 204,000oz
KEY POINTS
?? JORC Reserves at Paulsens Gold Project in WA increase 81% to 204,000oz2 (at 5.3gpt); Grade up 23%
?? Total JORC Resources increase by 38% to 555,000oz1 (at 5.7gpt) after 50,250oz of mining depletion; Grade up 14%
?? Paulsens Gold Mine now joins the +1Moz single deposit club, comprising gold mined plus current resources
?? Upgraded Resource comprises 206,000oz1 as Measured, 167,000oz1 as Indicated and 182,000oz1 as Inferred
?? Revised inventory gives Paulsens +5-year mine life based on a strong historical conversion of Resources into mineral inventory
?? Resource upgrade includes a 156% increase in the Upper Levels at Paulsens which will provide supplementary ore for 5-7 years
?? Northern Star’s total Resource inventory now stands at 2.2Moz1 following recent 66% increase in resources to 1.7Moz1 at the Ashburton Project, 200km from Paulsens
?? New estimates exclude a host of high-grade drilling results recorded at Paulsens this year, including hits of up to 1,135gpt at the Voyager 1 lode and 435gpt at the Voyager 2 lode
?? Resource upgrade includes maiden Open-pit Ore Reserve of 13,000oz at 3.2gpt from Belvedere, 8km from Paulsens plant
?? Ongoing drilling to underpin further resource updates
?? Paulsens set to produce 100,000 - 115,000oz this calendar year, with total costs running at A$850-A$950/oz, generating up to $85m in surplus cash