St Barbara Limited

St Barbara is pleased to announce the completion of an updated Pre-Feasibility Study (PFS) for the 15-Mile and Beaver Dam Projects, located in Nova Scotia. The PFS for the consolidated 15-Mile and Beaver Dam Projects has been updated with fresh assumptions utilising the relocated Touquoy processing plant at full production capacity of 2.1 million tonnes per annum. The results are very attractive, offering a capital-efficient project with strong economics, should the permitting environment improve in Nova Scotia under the proposed Canadian Federal regulatory environmental approvals reforms. Managing Director and CEO Andrew Strelein stated “ I am thrilled to share the results of our optimised pre-feasibility study for the 15-Mile and Beaver Dam projects, which demonstrates outstanding financial viability alongside strong environmental stewardship. We are very proud of the design improvements made to minimise surface disturbance and environmental impacts while maximising the benefits to Nova Scotia and to Canada.” “These results not only highlight the significant projected returns and cost savings but also reinforce our commitment to sustainable development. We have applied various integrated innovative approaches to minimise our ecological impact while maximising the development’s capital and operational efficiency. As we move forward, we remain dedicated to delivering value to our stakeholders and fostering our positive relationships with the communities in which we operate. We look forward to community consultations on our design changes and to receive additional feedback under future regulatory approval processes.” #goldexploration; #NovaScotia

St Barbara has released the attached presentation by Mr Andrew Strelein, Managing Director & CEO, to investors this week at the Precious Metals Summit Beaver Creek and next week at the Gold Forum Americas. #goldexploration

St Barbara has released the Full Year FY24 Financial Results. The Company reported a statutory loss after tax of $54 million for the year and an underlying loss after tax for the year of $38 million, with EBITDA (excluding significant items) of ($28) million. The financial performance reflects the change in strategy to prioritise the development of the Simberi and Atlantic growth projects, with $26 million of growth capital invested in advancing Simberi and Atlantic. St Barbara ended the year in a strong financial position, with unrestricted cash of $171 million (including proceeds from the sale of the Catalyst shares) and are well-funded to progress the Simberi Sulphides Expansion through the Feasibility Study and to a Final Investment Decision. #goldexploration #goldmining #annualreport #annualresults #gold #financials

St Barbara is pleased to announce that results of the current testwork program have allowed the early selection of the Saleable Concentrate Flowsheet option for the Simberi Sulphides Expansion, three months ahead of schedule. The testwork program has also confirmed that the Sorowar ore has significantly lower competency than previous test results, reducing the average life of mine (LOM) ore competency by 20% thereby reducing the crushing and grinding energy requirements. Managing Director and CEO Andrew Strelein said “We are excited by the improvements in the recoveries-to-concentrate and overall recovery being achieved in the flotation testwork we have completed to date. The results have allowed us to take an early decision in favour of the Saleable Concentrate Flowsheet, three months earlier than anticipated.” The Company is well funded to complete the next phases of work and beyond, including the investment in Pre-Expansion Growth Capital. This sets us up to deliver the clearest possible scope of work for the final investment decision anticipated in Q2 December FY26. #goldmining #goldexploration; #PNG

St Barbara has today released its Q4 June FY24 quarterly report. Managing Director and CEO Andrew Strelein said: “Q4 has been an incredibly important quarter for the advancement of our plans for the Simberi 10 Year Plus Mine Plan, increasing our Ore Reserves by 40% to 2.8 Moz and the delivery of the Concept Study outcomes announced in May.” “Pleasingly, Simberi ore tonnes mined and processed for Q4 were both at record highs for the year despite the interruptions to logistics due to currency and aviation fuel shortages in PNG. With the arrival of the two trial Volvo A60Hs at quarter end, the placement of orders for excavators as well as for new sizer installation, we have confidence in continuing the improvement in mining and milling performance over FY25 to underpin a lift in gold production to a guidance range of 65 to 75 koz from 55 koz this year.” “St Barbara is in a strong position, with substantial Mineral Resources and Ore Reserves, a strong balance sheet and a clear development pathway for Simberi.” #mining #goldexploration #goldmining #quarterlyreport #SBM

St Barbara has today released the Simberi Mineral Resources and Ore Reserves Statement as at 30 June 2024. St Barbara Managing Director and CEO Andrew Strelein said: “We are delighted with the upgrading of 1.9 Moz of Mineral Resources from Inferred to Measured and Indicated, compared to our revised target of 1.5 Moz. “Proved and Probable Ore Reserves have been increased by 40%, to 2.8 Moz, on the back of our increased confidence in the underlying Mineral Resource. This upgrade ensures that our recently announced 10 Year Plus Mine Plan Outlook is completely underpinned now by Proved and Probable Ore Reserves. “With very little Inferred Mineral Resources left to convert, the focus of FY25’s 9000 m diamond drilling program shifts to expanding the Mineral Resource. Specifically, we will follow-up last year’s discovery of the Sorowar – Pigiput trend and test the sulphide potential of the Samat deposit, and explore / sterilise various areas including at Pigibo North.” #mining #goldexploration #goldmining #orereserves #mineralresources #PNG #PapuaNewGuinea #explorationdrilling #gold

St Barbara announces that excellent progress has been made with the incorporation of the results from the FY24 diamond drilling program into the work being carried out to convert Simberi Inferred Mineral Resources to Indicated Mineral Resources as part of an Updated Mineral Resource and Ore Reserve estimate as at the end of the FY24 financial year. The teams are on track to complete the Updated Mineral Resource and Ore Reserve estimate for announcement in the week commencing 29 July. Key highlights from the FY24 diamond drilling program include: - Target for upgrading Inferred Mineral Resource to Indicated Mineral Resource lifted by 50% to 1.5 Moz, based on the work being carried out in preparation for the Updated Mineral Resource and Ore Reserve o  Increase from previous upgrade target of 1.0 Moz (see announcement of 23 January 2024 titled “Simberi Resource Definition Drilling 50% Complete; Targeting Upgrade of 1 Moz from Inferred to Indicated Mineral Resource”) - On track to announce updated Mineral Resource and Ore Reserve in July (targeting week commencing 29 July) - Board has accelerated approval of the Simberi FY25 diamond drilling budget of A$6.8 million for approximately 9,000 m incorporating: o  ~4,750 m of resource definition drilling at the Sorowar-Pigiput trend and the Samat deposit; and o ~4,250 m of exploration and sterilisation drilling to test six areas #diamondrill; #goldmining #goldexploration; #PNG

St Barbara is pleased to announce that all assay results have now been returned for the resource definition drilling of the Pigibo portion of the 31 hole, 7,500-metre diamond drill program at the Simberi Operations in Papua New Guinea (PNG). At Pigibo, eight resource definition drill holes were completed for 1,492.3 m. Key highlights from the diamond drill program include: -    Assay results have been received for all eight Pigibo resource definition holes (since the last ASX release on 7 June 2024 titled “More Encouraging Assay Results from Sorowar – Pigiput Mineralised Zone”). -    Assays received for the eight Pigibo resource definition drill holes will assist in improving confidence in the resource through locally upgrading the resource classification. Significant Pigibo resource definition drill hole intercepts include: o  SDH550: 40 m @ 3.1 g/t Au from 21 m, including 24 m @ 4.4 g/t Au from 37 m; o  SDH539: 71 m @ 1.2 g/t Au from 0 m; o  SDH535: 56 m @ 1.2 g/t Au from 0 m, including 8 m @ 3.2 g/t Au from 48 m; o  SDH536: 36 m @ 1.7 g/t Au from 97 m, including 6 m @ 5.6 g/t Au from 113 m; o SDH532: 21 m @ 2.7 g/t Au from 54 m, including 10 m @ 4.6 g/t Au from 63 m. #diamonddrill #goldmining #PNG

St Barbara is pleased to announce that final assays have now been received for the 20 hole diamond drill program for 3,853 m completed at Cochrane Hill, Nova Scotia between January and March 2024. Key highlights from the diamond drill program include: - All three diamond drill holes from the Cochrane Hill Deeps exploration program in Nova Scotia intersected visible gold in multiple locations. Assays received from the three exploration drill holes indicates gold mineralisation extends a further 80 m to 175 m down dip from previous drilling. - Screen Fire assay results have been received for all three Cochrane Hill Deeps diamond drill holes and include: - CH-24-358: 31 m @ 2.5 g/t Au from 387 m, including 2 m @ 14.2 g/t Au from 411 m; and - CH-24-360: 27 m @ 1.9 g/t Au from 395 m, and 7 m @ 5.1 g/t Au from 431 m. - The Cochrane Hill East and Cochrane Hill West diamond drill programs have sterilised the near surface potential of the shear zone along strike to the east and west of the Cochrane Hill deposit and now updated mine and infrastructure planning will proceed on the existing 690 Koz Cochrane Hill Mineral Resource. #diamonddrill #goldmining #novascotia

St Barbara is pleased to announce that the Company’s subsidiary, Atlantic Mining, and an independent renewable energy company, Natural Forces, are working together to explore the viability of a renewable energy hub utilising the now-closed Touquoy Gold Mine at Moose River, Nova Scotia. The two companies will conduct a Feasibility Study, to explore repurposing the Touquoy mine site to host a closed-loop pumped hydro energy storage system combined with solar photovoltaic panels. If commercially viable, the concept presents a unique contributor to the renewables-based electricity supply objectives of Nova Scotia with an important and significant source of stored energy. The Feasibility Study is scheduled to begin this month, with a conceptual design expected by the end of the calendar year 2024. #renewables #goldmining #novascotia #renewables #renewableenergy #sustainability #sustainablefuture #mining