December 10, 2015

Maiden Underground Ore Reserve -Tomingley Gold Operations

A mining options study and assessment shows:

  • Maiden underground ore reserve estimated at 524,400 tonnes grading 3.66g/t gold for 61,600 ounces
  • These reserves are within the total project resource of 11.25 million tonnes grading 1.9g/t gold (687,000 ounces)
  • Open pit operations have been converting around 100% of Inferred Resource ounces to mine reserves
  • Estimate only accesses ore from Wyoming One and Caloma Two
  • Potential exists to include Caloma with additional drilling to upgrade the resource category
  • Further drilling from underground developments has the potential to extend the overall resource base at depth
  • Highlights the potential of the Tomingley Gold deposits to sustain a long term underground mining operation