Ann: Regis Approves Underground Mining Expansion of Rosemont, page-4

So they mention there is significant further optionality stemming from going underground in these comments in the ann - you can read it all for yourselves with the pretty pictures - not sure if there are any views on how this dovetails with expectations?:

"The current mine design also includes mine expansion optionality. A fourth connection to the
surface can be added at the northern end of Rosemont Main. This could provide access for
personnel, equipment/materials, haulage and a second fresh air intake for ventilation. It also
provides access to small stopes in the area (not currently in the schedule) and more importantly
presents a significant opportunity to access any mining inventory that can be established through
further resource expansion drilling in to the prospective area to the north of Rosemont Main.

This decline could be driven off the open pit ramp at approximately 1,324mRL, in around July 2021.
As shown below, if drilling can identify additional mining areas to the north, this northern portal will
provide an ideal platform for expanding the mine workings. "

"
Exploration Upside at Rosemont

The current mine development is only based on an underground MRE with two initial and discrete
zones and only extends to a maximum depth of 150 metres below the base of the current Ore
Reserve pit design in these areas.

There are numerous high-grade intercepts outside of the two zones of this underground MRE and
along the 4 kilometre strike extent of the Rosemont mineralised shear zone. The drilling density
in these areas is currently not sufficient to accurately define the orientation, continuity and volumes
of mineralisation domains, nor for classification as Mineral Resources. These areas are high
priority targets for infill drilling to add to the maiden Resource. This work is active and ongoing. In
addition to this continuing infill drilling, further deep drilling is planned with the aim of intercepting
the mineralised quartz-dolerite at depth and down plunge from the current underground MRE.

As is the industry experience with most underground mines it is expected that the final infill drilling
phase to reach Indicated Resources for a large portion of the deposit will be completed from
underground positions.

Further, as can be seen in the mine long section below there will be significant opportunity to
conduct exploration and resource drilling from the underground development between the two
zones currently approved for development. "

"Importantly any additional mining inventory delineated through exploration from within the
underground footprint will not have to bear any significant development or capital costs as the
majority of these costs are already included in the current approved mine development. "

"
Recent Drilling Confirming the Expansion Potential

As reported in Regis’ June 2018 quarterly report, exploration drilling of Rosemont Underground
targets from surface during the quarter continued to return very strong results as shown below:

 5.39m @ 13.64 g/t Au from 167m RRLRMDD011 (main domain)
 7.90m @ 29.63 g/t Au from 192.1m RRLRMDD013 (main domain)
 7.82m @ 6.01 g/t Au from 518m RRLRMDD022 (south domain*)
 8m @ 10.91 g/t Au from 220m RRLRMRC734 (south domain)
 3m @ 17.45 g/t Au from 300m RRLRMRC740 (south domain)
 12m @ 12.32 g/t Au from 156m RRLRMRC754 (south domain)
 8m @ 7.96 g/t Au from 240m RRLRMRC756 (south domain)
 7m @ 6.05 g/t Au from 154m RRLRMRC763 (south domain)
 2m @ 20.63 g/t Au from 228m RRLRMRC770 (south domain)
 2m @ 20.48 g/t Au from 100m RRLRMRC775 (central zone *)
 6m @ 9.85 g/t Au from 192m RRLRMRC777 (central zone*)
 5m @ 59.62 g/t Au from 169m RRLRMRC778 (central zone*)
 8m @ 5.82 g/t Au from 195m RRLRMRC779 (central zone*)
* Results outside current UG resource envelope.
All intercepts calculated using a 2.0g/t lower cut, no upper cut, maximum 2m internal dilution. All assays determined on 1m split samples by fire assay.

The two areas highlighted on the oblique long section and cross sections below show that high
grade mineralisation is now seen up to 200 metres below current resource envelope and stope
designs at Rosemont South and along strike and outside of the current resource envelop in
Rosemont Central. "