KEY HIGHLIGHTS - Mineral Resources increased by 11% to 3.92...

KEY HIGHLIGHTS

- Mineral Resources increased by 11% to 3.92 million ounces @ 1.82 g/t gold.

- Ore Reserves increased by 7% to 1.58 million ounces @ 1.74 g/t gold.

- A substantial increase in Mineral Resource and Ore Reserves at Tap AB, located only 2 km from the plant, provides a robust platform for mine life extension with at least seven years supported by the updated Reserve.

- Total Mineral Resources as at 31 December 2016 were 67.0 million tonnes @ 1.82 g/t gold for 3.92 million ounces representing an 11% increase in both gold grade and ounces compared to 67.2 million tonnes @ 1.64 g/t gold for 3.54 million ounces as at 31 December 2015. This is an increase of 379,000 ounces (11%) on the 2015 Mineral Resource or 547,000 ounces (16%) after allowing for 2016 depletion of 168,000 ounces.

- The Mineral Resource increase is mainly a result of successful near mine drill programs at Tap AB in 2016, where mineral resources increased substantially to 22.2 million tonnes @ 2.02 g/t gold for 1,446,000 ounces. This is an increase of 559,000 ounces (63%) on the 2015 Tap AB Mineral Resource or 635,000 ounces (78%) after allowing for 2016 depletion of 76,000 ounces. Tap AB open pit resource grade increased by 16%.

- Total Ore Reserves as at 31 December 2016 were 28.2 million tonnes @ 1.74 g/t gold for 1.58 million ounces representing a 7% increase in ounces and a 9% increase in grade compared to 28.9 million tonnes @ 1.59 g/t gold for 1.48 million ounces as at 31 December 2015. This is an increase of 99,000 ounces (7%) on the 2015 Reserve or 267,000 ounces (18%) after allowing for 2016 depletion of 168,000 ounces.

- The Ore Reserves increase is mainly a result of successful near mine drilling programs at Tap AB in 2016, where open pit Ore Reserves at Tap AB increased substantially in grade and ounces to 8.9 million tonnes @ 1.76 g/t gold for 503,000 ounces. This is an increase of 145,000 ounces (41%) on the 2015 Tap AB Open Pit Ore Reserve or 221,000 ounces (78%) after allowing for depletion of 76,000 ounces. Tap AB open pit Reserve grade increased by 21%.

- Open Pit Ore Reserves at Urucum remained materially unchanged at 10.54 million tonnes @ 1.68 g/t gold for 568,000 ounces. This is a decrease of 28,000 ounces (5%) on the 2015 Urucum Open Pit Ore Reserve or an increase of 23,000 ounces (4%) after allowing for 2016 depletion of 51,000 ounces. Urucum open pit Reserve grade increased by 13%.