TEAL GOLD MINE OPERATIONS UPDATE HIGHLIGHTS  Ore mining to date...

TEAL GOLD MINE OPERATIONS UPDATE
HIGHLIGHTS
 Ore mining to date from Teal Stages 1 and 2 of approximately 185,000t of oxide and transitional ore grading 3.25g/t Au for 19,330 ounces mined
 Third party processing totals 155,000 dry tonnes grading 3.26g/t Au and metallurgical recovery of 94.6% for gold production of 15,500 fine ounces to date
 Mining of the remaining ore in the pit (approximately 30,000t grading 3.2g/t Au) is expected to be completed in February
 First ore processing campaign at the 1Mtpa Lakewood toll milling facility completed
 Reconciled production from the first milling campaign totalled 4,550 fine ounces of gold from the treatment of 40,500 dry tonnes of ore grading 3.64g/t Au
 Plant performance was excellent with calculated recoveries exceeding plan at 96%
 Strong Australian dollar gold price averaging $1,672 per ounce generated $7.6 million in gross revenue from the Lakewood campaign
 The second milling campaign commenced on 19 January and will treat approximately 30,000t of ore grading 3.2g/t Au over a 15 day period1,2
 The third and final campaign is scheduled to commence 21 February enabling full reconciliations and final cash flows from Teal early in the June Quarter
 Intermin maintains guidance for both Teal Stages 1 and 2 totalling 18 – 20,000 ounces at All In Costs (AIC) of A$1,000 – $1,100 per ounce1,2



Commenting on Teal’s strong operating performance, Intermin Managing Director Mr Jon Price said:
“It is extremely pleasing to see the first toll milling campaign at Lakewood completed successfully and the mine safely and efficiently moving to completion in the March Quarter. Teal has been a great success to date and has placed the Company in a strong financial position to aggressively pursue our new discovery and resource growth strategy utilising our increasing cash reserves.”