Ann: Rothsay Resource Jumps 31% to 401,000 Ounces, page-2

• Substantial increase in the Mineral Resource Estimate (MRE) at the 100%-owned Rothsay gold project in WA’s Midwest to 401koz, comprising:
  • A 31% increase in the total Mineral Resource to 1.42Mt1 at 8.8g/t Au for 401koz;
  • A 45% increase in Indicated Resource, to 0.82Mt at 9.3g/t Au for 246koz, available for conversion
    to Ore Reserves; and
  • A 13% increase in Inferred Resource to 0.60Mt at 8.0g/t Au for 155koz.
• The key Woodley’s Shear Mineral Resource increases to 296koz, representing 74% of the total Resource.
• The Woodley’s East Resource has increased by 159% to 78koz.
• A Maiden Mineral Resource for Woodley’s East Hanging wall has been estimated, with two separate
  lenses totalling 22koz.
• The application of a lower cut-off grade of 2.5g/t Au reflects a lower unit cost, due to the change in mine design parameters which introduces larger development drives and underground equipment; plus the application of ore sorting technology.
• The increased Resource estimate will feed into the Rothsay Definitive Feasibility Study (DFS), which is targeted for completion in the June quarter, 2018.
• The regional exploration will be ongoing; targeting emerging opportunities at the Orient, Clyde, Clyde East and Miners Shears, where there is excellent potential to identify new Resources.

Great news and inline with my predictions. Now this is out of the way there should be nothing holding up the DFS which should be a cracker given the upgrade in grade and resource. 8.8g/t should translate out into a nice AISC number and there is plenty of potential for resource upgrades over the coming months.