operational update

Silver Lake Resources Ltd (“Silver Lake”) is pleased to announce an update on gold operations in the Eastern Goldfields and Murchison districts of Western Australia (refer to figure 1).
• Quarterly gold sales totalling 56,450 ounces
? 43,189 ounces from Mount Monger Operations
? 13,261 ounces from Murchison Gold Operations
? Estimated bullion on hand as at 30 June 2013 of 2,500 ounces
?
Operational changes made in April 2013 at Mount Monger Operations have improved business outcomes
• Full year gold sales totalling 151,060 ounces
? 135,282 ounces from Mount Monger Operations
? 15,778 ounces from Murchison Gold Operations
• Budget for year ending 30 June 2014 being finalised:
? taking into account decline in A$ gold price; and
? focusing on deferring capital, reducing costs across the business & maximising cashflow
• June 2013 Ore Reserves & Mineral Resources to be announced late July 2013
• Mount Monger business optimisation to be announced once budget finalised taking into account June 2013 ore reserves & mineral resources
• Hollandaire PFS also to be announced late July 2013
Further details will be available in the forthcoming June 2013 quarterly report once month end processes are finalised.