annual general meetingannual general meeting perth 23 ... · ud t tifi t d ti m h 2013 t eelya...

Annual General MeetingAnnual General Meeting

Perth 23 November 2012Perth 23 November 2012

www.silverlakeresources.com.auABN: 38 108 779 782ASX: SLR

Board of Directors

Paul Chapman - Non Executive Chairman

Les Davis - Managing Director

Chris Banasik - Director of Exploration & Geology

David Griffiths - Non Executive DirectorDavid Griffiths Non Executive Director

Peter Johnston - Non Executive Director

Brian Kennedy - Non Executive Director

Peter Armstrong - CFO & Company Secretary

Slide 2

Senior Management Team

Rob Humphryson - Chief Operating Officer

David Crockford - Mining Manager (Mount Monger Operations)

Sam Larritt - Mining Manager (Murchison)g g ( )

Gareth Solly - Resident Manager (Mount Monger Operations)

Damien Keys - Chief Geologist (Mount Monger Operations)

David Price - Chief Geologist (Murchison)

Wayne Perna - Group Metallurgy Manager

Anita Howard - Environmental Manager

Kassie Patterson - Human Resources Manager

Slide 3

Agenda

1. Introduction

C2. Chairman’s address

3. Annual accounts

4 Resolution 1: To adopt remuneration report4. Resolution 1: To adopt remuneration report

5. Resolution 2: To re-elect Mr Brian Kennedy as a director

6. Resolution 3: To re-elect Mr David Griffiths as a director

7. Resolution 4: To approve LTI Scheme

8. Resolution 5: To approve termination benefits to Mr Les Davis

9. Resolution 6: To approve termination benefits to Mr Chris Banasik

10. Resolution 7: To approve an increase in Director’s fees

11. Resolution 8: Renew takeover provisions

12. Managing Director’s presentation

13 Refreshments

Slide 4

13. Refreshments

Resolutions & Valid Proxy Votes

Resolution 1: To adopt remuneration report

Resolution 2: To re-elect Mr Brian Kennedy as a director

Resolution 3: To re-elect Mr David Griffiths as a director

Resolution 4: To approve LTI Scheme

R l ti 5 T t i ti b fit t M L D iResolution 5: To approve termination benefits to Mr Les Davis

Resolution 6: To approve termination benefits to Mr Chris Banasik

Resolution 7: To approve an increase in Director’s fees

Validly Appointed Proxies For Against Open Abstain

Resolution 1 107,500,884 98% 921,629 1% 884,900 1% 18,159,142

Resolution 8: Renew takeover provisions

Resolution 2 125,386,114 98% 1,220,289 1% 827,043 1% 33,109

Resolution 3 123,613,713 97% 2,994,490 2% 827,403 1% 31,309

Resolution 4 94,340,010 86% 14,527,347 13% 886,900 1% 17,712,298

Resolution 5 93,327,168 85% 15,173,927 14% 820,250 1% 18,145,210

Resolution 6 93,364,179 85% 15,129,605 14% 826,750 1% 18,146,021

Resolution 7 106,357,068 97% 2,583,818 2% 820,250 1% 17,705,419

Slide 5

Resolution 8 126,395,164 99% 66,451 0% 888,500 1% 116,440

Annual General Meeting

Perth 23 November 2012

Company Presentation

Les Davis - Managing Director


Important Notice and Disclaimer

Silver Lake Resources Limited has prepared this presentation based on information available to it. No representation or warranty, express or implied, ismade as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation.

All dollar terms expressed in this presentation are in Australian dollars unless otherwise statedAll dollar terms expressed in this presentation are in Australian dollars unless otherwise stated.

To the maximum extent permitted by law, none of Silver Lake Resources Limited, its directors, employees or agents, advisers, nor any other personaccepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any lossarising from the use of this presentation or its contents or otherwise arising in connection with it.

This presentation is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any security, andneither this presentation nor anything in it shall form the basis of any contract or commitment whatsoever This presentation may contain forward lookingneither this presentation nor anything in it shall form the basis of any contract or commitment whatsoever. This presentation may contain forward lookingstatements that are subject to risk factors associated with gold exploration, mining and production businesses. It is believed that the expectations reflectedin these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actualresults or trends to differ materially, including but not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results,reserve estimations, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory changes, economic andfinancial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates.

Th i f ti i thi t ti th t l t t i l i l d l ti lt b d i f ti il d b MThe information in this presentation that relates to mineral resources, mineral reserves and exploration results are based on information compiled by MrChristopher Banasik who is a Member of the Australasian Institute of Mining and Metallurgy. Any statement herein, direct or implied, as to a potential golddeposit is conceptual in nature and a reference to the targeted gold potential and not to any JORC compliant Mineral Resource. Mr Banasik is a full timeemployee of Silver Lake Resources Ltd, and has sufficient experience which is relevant to the style of mineralisation under consideration to qualify as aCompetent Person as defined in the 2004 edition of the JORC Code. Mr Banasik has given his consent to the inclusion in this presentation of the mattersbased on the information in the form and context in which it appears.

The information in this presentation that relates to exploration and production targets refers to targets that are conceptual in nature, where there has beeninsufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.

The information on exploration targets in this presentation are based on a conceptual range of targets as follows:

Tonnage range: 50 million to 100 million tonnesg g

Grade range: 3 g/t Au to 8 g/t Au

Ounces: 5 million to 10 million

Slide 7

FY2012 Overview

FY2012 Highlights & Milestones 2010-2012 Financial Summary (A$M)

Gold sold up 28.8% from 64,703 ounces to 83,347 ounces 30 June 2010A 30 June 2011A 30 June 2012A

Upgraded and debottlenecked Lakewood Gold Processing Facility to 900,000 tonnes per annum

Construction of Murchison currently 85% complete

77% I i t t l t i d f 406kt t

$135

77% Increase in total ore tonnes mined from 406kt ore to 717kt ore

Hollandaire Copper discovery

June 2012 JORC reserve of 1.3Moz gold, 60,000t copper $

$90

and 9.3Moz silver

50% increase in annual revenue, 79% increase in annual EBITDA

Profit from ordinary activities after tax up 97% from

$69

$33

$59

$31

$68

y pA$15.8M to A$31.2M

Admitted to ASX200 Index in December 2011

Acquired Great Southern Project

$24

$12

$30$33

$16 $16

$31

Announced acquisition of Integra Mining Revenue EBITDA Net Income Cash

Slide 8

A Quality, Diversified, Western Australian Portfolio

Producing Assets

Copper Lakes • Rock chip samples:

- 26% Cu, 10 g/t Au, 0.1% Co

Under Construction

Exploration

Murchison • 1.9Moz gold resource

• 0.4Moz ore reserve

U d t ti fi t d ti M h 2013 t

Eelya Complex • 9 large geophysical surface electromagnetic conductors

• Hollandaire - high grade copper discovery• Under construction - first production March 2013 quarter

• 1.2mtpa processing facility

• 14 open pits and 4 underground feed sources

• Target production rate of 100koz p.a., 8-10 year mine life

• Copper resource of 45.1kt (Supergene zone 4.7% Cu)

• $20 million drilling program in progress

Expanded Mount Monger (inclusive of Randalls)• 3.8Moz gold resource


• In operation - 4 underground mines and 2 open pit mines

• 2 processing facilities with 2.2mtpa capacity with ability to expand

Great Southern • 0.9Moz gold resource


1: Refer to appendix - JORC Resource & Reserve Inventory

• Targeting sustained production of 300koz p.a. in 2014

• Expected mine life >10 years

• Potential third production centre

• Includes Munglinup exploration project

Slide 9


The Value Add…. “1 + 1 = 3”

Synergies and Cost Savings

Operational

FlexibilityOutcome

Reduction in corporate overheads

Reduction in site overheads

Multiple underground & open pit operations

Capacity to treat surface stockpiles and/or fast track project pipe line

Predictability

Risk diversification

Operational efficiency

Shared infrastructure

and/or fast track project pipe line

Optimised milling strategy at Mount Monger with 2.2mtpa milling capacity

Next production centre in the Murchison online March Qtr 2013

Economies of scale

Share holder returns

+ =

Tenement expenditure

Common contractors

Murchison online March Qtr 2013

Contiguous tenement holding

Common contractors

Slide 10

Key Metrics….

“The expanded Silver Lake becomes one of the largest all Australian gold producers”

Silver Lake Integra Expanded SilverLake

Production(including Murchison)

FY13: 155 - 195koz

FY14: 300koz

Mill Capacity FY13: 2 2mtpa

ProductionFY13: 100koz

FY14: 100koz

Mill Capacity FY13: 1.2mtpa

ProductionFY13: 255 - 295koz

FY14: 400koz

Mill Capacity FY13: 3.4mtpa(including Murchison)

FY13: 2.2mtpa

Resources 4.5Moz


Resources 2.1Moz

R 0 M


Resources 6.6Moz+ =

Reserves 1.3Moz

Land Holding 3,500sqkm

Reserves 0.5Moz


Reserves 1.8Moz


Slide 11

Company Overview - Pro-Forma

DirectorsPaul Chapman Chairman

ASX Code: SLRASX 200 Index December 2011 p

Les Davis Managing Director

Chris Banasik Director Exploration and Geology

David Griffiths Non Executive Director

Ordinary Shares 375.6 million

Unlisted Options 3.4 million

Market Cap: A$3.50 per share A$1,325 million

Investor1 Shares (M) %

Peter Johnston Non Executive Director

Brian Kennedy Non Executive Director

Range (12 month) A$2.02 - A$3.96

Average Daily Volume 1.7M shares ($6.0M)

Source: CommSecInvestor Shares (M) %Directors 25.5 6.8

Dynamic Funds 16.3 4.3

Macquarie Investment 14.4 3.8q

Sprott Asset Management 13.4 3.5

NAB 11.7 3.1

Acorn Capital 10.1 2.7

Top 20 + Directors 166.1 45.0

Note: Fully Diluted Basis

Slide 12

Compelling Project Pipeline

D i E tRosemary

ProducingHaomaDaisy Milano

Daisy East

Maxwells OP

W b l D Bi Pit

Stockpile

Development MurchisonMajestic

Wombola Dam Big Pit

MaxwellsUG

Cock Eyed Bob UG

SantaUG

Imperial

Advanced ExplorationGreat

Magic

UG

Fi ll

Hollandaire

Santa Fly CampGreat

Southern Hammer & TapFingalls

Harry’sHill

F hM hi

Greenfields ExplorationFrench

Kiss

Queen Lapage

PetersDam

Karonie

Spice

QE1

AldissOther

RandallsOther

MurchisonOtherMount

MongerOther

VostokComet East

Lake Austin ColonelCopper

LakesMt Eelya

Slide 13

Mount Monger Operations - Consolidated

Slide 14

Mount Monger - SLR

Location 50km SE of Kalgoorlie

Stage In operation 1200g p

Mining 4 underground mines1 open pit mine

Processing 700,000 tpa (hard rock)900 000 tpa (blended)

Feed Sources1000

W b l Pi H & T900,000 tpa (blended)Exp. to 1mtpa (blended)

Blended Feed Grade FY13: 4.4 - 5.6 g/t Au

Blended Recovery 94% 600

800

urce

s ,0

00

Wombola Pits, Hammer & Tap

1.8 g/t Au to 2.4 g/t Au

Production FY13: 120koz to 150koz

Resource1 1.7Moz

200

400

Feed

Sou

Daisy Milano, Haoma, Haoma West, Daisy East, Rosemary, Magic

Reserve1 0.4Moz

Mine Life ~10 years

Av. C1 Cash Cost oz A$570 - A$6200

200

FY13 FY14 FY15 FY16 FY17

6 g/t Au to 8 g/t Au

Av.Waste Development(Capital & Pre-Paid)

A$25 million per annum

Sustaining Capital A$4 million per annum

Underground Open Pit Stockpile

Slide 15


Nov 2007: 1 Mine - 235,000 oz of Resource

East

- 200

- 400

Mine developed to ~410 metres

Daisy Milano

600

p

- 600

West- 800

Slide 16

4 Underground Mines - 1.1Moz of Resource

1. Daisy Milano

2. HaomaVentilation Shaft

2. Haoma

3. Daisy East (remnant)

4. Rosemary (initial)

H W t ( di )East

Rosemary

Daisy East

- 200#4

+ Haoma West (new discovery)y

Daisy Milano

- 400#1

#2

Endowment

600

Endowment

2,000 to 3,000ovm

Haoma

Haoma West- 600

Current depth of mine development ~640 metres

Daisy Deeps

#3

All accessible from same infrastructure containing 1 1Moz of resource

WestOpenMultiple New Structures

- 800

Slide 17

All accessible from same infrastructure containing 1.1Moz of resource

Haoma - Multiple Lodes

Haoma 27 level ore drive. Mining dimensions 4 5 metres wide Diluted mined grade 15 g/t Au4.5 metres wide. Diluted mined grade 15 g/t Au.

Slide 18

Mount Monger - IGR

Location 65km SE of Kalgoorlie

Stage In operationStage In operation

Mining 1 open pit mine90koz surface stockpile

Processing 1.2mtpaExp to 1 7mtpa for $20M

Feed Sources

Exp. to 1.7mtpa for $20M(not committed as yet)


Blended Recovery 96%

Cock-eyed Bob, Maxwells, Santa


Production FY13: 100koz

Resource2 2.1Moz

Reserve2 0 5MozReserve2 0.5Moz

Mine Life ~8 years

Av. C1 Cash Cost oz1 A$850


Included in C1 for FY13

1: Excludes any planned SLR savings or Randalls mill expansion

2: Refer to appendix JORC Resource & Reserve Inventory

Slide 19


Mount Monger - IGR Underground

Underground Resources (using +3g/t Au cut off grade):

– Cock-eyed Bob: 111,500 oz at 5.6 g/t Au

– Maxwells: 291,100 oz at 5.8 g/t Au

– Santa: 178,100 oz at 5.7 g/t Au

Total 580 700 oz at 5 7 g/t AuTotal 580,700 oz at 5.7 g/t Au

~30km of strike in Banded Iron Formation (BIF) Underground ore development face at CEB

Very reactive host resulting in high grade gold mineralisation

Only drilled to 400 metres depth

Mineralisation remains open at depth

Slide 20

Murchison - Project Overview

500tph Crushing Circuit 1.2 Million tpa Mill

CIL Circuit

Company owned milling infrastructure relocated to Murchison

Slide 21

Murchison - Overview

Location 600km North of Perth

Stage Under Construction 1400

2 to 3 production sources at any given time

Pre-Production Capital A$65 - A$70 million

First Gold Production March 2013 Quarter

Mi i Pl d F d 14 it i

Feed Sources

1000

1200

1400

Mining - Planned Feed Sources

14 open pit mines4 underground mines

Processing 1.2 mtpa


800

1000

ces

,000

Caustons, Comet, Tuckabianna West, Lena


LOM: 2.8 - 3.4 g/t Au

Blended Recovery 92.7%

Production FY13: 35koz to 45koz

Resource1 1 9Moz

400

600

Feed

Sou

r

Tuckabianna Pits x 6 Comet Pits x 5 Lena Pits x 3

1 8 g/t Au to 3 0 g/t AuResource1 1.9Moz

Reserve1 0.45Moz

Mine Life ~8 to 10 years

Av. C1 Cash Cost oz A$750 - A$7900

200

FY13 FY14 FY15 FY16 FY17



A$26 million per annum

Sustaining Capital A$4 million per annum

Open Pit Underground

Slide 22


Murchison Project 85% Complete

Commissioning

Power Plant Construction Crushing & Screening Plant

Fine Ore Bin Tunnel Fine Ore Bin Construction

Slide 23

Murchison Project 85% Complete

Commissioning

Ball Mill Installation & Feed Conveyor CIL Tank Construction

Tailings Dam Lift Under Construction First Ore Production From Genesis Open Pit

Slide 24

Tailings Dam Lift Under Construction First Ore Production From Genesis Open Pit

Eelya Complex - Overview

Location 4km North of Tuckabianna

Stage Explorationg

Regional Geology Felsic Volcanic RocksPotential for VMS mineralisation

Previous Exploration Limited base metal exploration in the 1970’sN i f l l ti i 1981No meaningful exploration since 1981

SLR Exploration 9 large electromagnetic conductors over 50 sqkm area

Current Exploration $20 million exploration programme in progressCurrent Exploration $20 million exploration programme in progress

Priority Targets Hollandaire, Rapier, Mt Eelya, Colonel

Next Steps Continue explorationNext Steps Continue explorationMetallurgical test workScoping studyFeasibility study

Strategy Add copper circuit to Murchison gold millModest capex to bring into productionModest capex to bring into productionProduction circa 2015/20161

1: Subject to further exploration and developmentRefer to disclaimer on slide 2

Slide 25

Hollandaire Copper Discovery

Discovered September 2011

Hollandaire deposit:Hollandaire deposit:

− copper grades up to 45%

− gold grades up to 5 5 g/tgold grades up to 5.5 g/t

− silver grades up to 256 g/t

Mineralisation open to the south west

Drill core showing supergene chalcocite with copper grades up to 45%

Mineralisation open to the south west

Current resource

− Supergene zone averages 4.7% gradep g g % g

Domain Tonnes Cu Au Ag Cu Metal Au Metal Ag MetalT % g/t g/t Tonnes Ounces Ounces

Oxide Au 220,000 0.1 1.1 3 300 7,900 19,400

Inferred

Hollandaire JORC resource as of September 2012

Oxide Cu 280,000 0.9 0.1 2 2,600 600 17,700

Supergene 390,000 4.7 0.9 12 18,500 11,800 151,700Primary 1,910,000 1.2 0.2 4 23,700 13,800 269,000Total 2,800,000 1.6 0.4 5 45,100 34,100 457,800

Slide 26

Great Southern - Overview

Location 450km south east of Perth

Stage Advanced explorationg

Regional Geology Proterozoic & Archean litholigies (Kundip)Volcanic successions (Munglinup)

Projects Kundip Gold & CopperT il P l t lli (C A A Z Pb)

Port Hedland

Broome

Trilogy Polymetallic (Cu, Au, Ag, Zn, Pb)Munglinup Gold

Resource1 0.95Moz @ 1.9 g/t Au10Moz @ 20.5 g/t Ag95kt @ 0.6% Cu

Newman

CarnarvonReserves1 0.42Moz @ 1.8 g/t Au

8.3Moz @ 34.8 g/t Ag60kt @ 0.8% Cu

Priority Targets Kundip Mining CentreMunglinup

Carnarvon

GeraldtonLaverton

Kalgoorlie

LeonoraMt Magnet

Munglinup

Next Steps Ramp up exploration in 2013Resource to Reserve conversionAssess low capital milling options

St t Thi d d ti t

PERTH

Kalgoorlie

EsperanceGreat Southern

Strategy Third production centreProduction circa 2016/20172


Slide 27

pp & y2: Subject to further exploration and development

Refer to disclaimer on slide 2

Kundip Mining Centre - DFS Outputs

Kaolin Open Pit Flag Open Pit

Kaolin Underground

H b Vi O Pit

Flag Underground

Harbour View Open PitArea Mining Reserve1

Kaolin Open Pit 114,300oz @ 2.8 g/t Au

Kaolin Underground 19,800oz @ 4.4 g/t Au

Harbour View Open Pit 20 600oz @ 3 2 g/t AuHarbour View Open Pit 20,600oz @ 3.2 g/t Au

Harbour View Underground 84,400oz @ 3.5 g/t Au

Flag Open Pit 27,000oz @ 4.0 g/t Au

Flag Underground 38,600oz @ 5.0 g/t Au

Total2 307 000 @ 3 4 g/t Au

1: Refer to appendix - JORC Resource & Reserve summaryExcludes Trilogy

Harbour View Underground

Total 307,000 @ 3.4 g/t Au

Slide 28

Excludes Trilogy2: Rounding may give discrepancies in this table

Exploration Plan

Mount Monger, Murchison & Great Southern:

multiple drill rigs– multiple drill rigs

– infill, extensional & green fields

Objectives:Objectives:

– 10Moz1 Au target over time

Significant gold resource upside:g g p

– highly prospective, underexplored tenement holding

– results to date support this view

– continue with $20 - $30 million per annum gold focused exploration programme

Advance base metal exploration at Eelya Complex:

– $20 million exploration programme

1. Refer to Appendix - JORC Resource & Reserve Inventory2 R f t di l i lid 2

Slide 29

2. Refer to disclaimer on slide 2

Focus for FY13

Mount Monger - Integration of Integra’s operations

Complete the acquisition of Integra and seamlessly transition the multiple operations at Mount Monger into oneComplete the acquisition of Integra and seamlessly transition the multiple operations at Mount Monger into one

Optimise production from the merged Mount Monger assets to generate maximum cash flow

Murchison - Commission second gold production centre

Complete milling facility and ramp-up ore mining with the first gold bar produced in March 2013 quarter

Achieve a 1.2 million tonne mill throughput rate per annum

Continue with exploration drilling near mine and further afieldContinue with exploration drilling near mine and further afield

Great Southern - Continue to Progress Long-Term Development Plans

Establish target areas for follow-up drilling at Kundip and Munglinup

Map out development plans

Exploration & Development

Drill test all significant targets in the Eelya complex immediately north of the Murchison gold millDrill test all significant targets in the Eelya complex, immediately north of the Murchison gold mill

Prioritise exploration targets across the merged business and drill test compelling targets

Complete a Pre-Feasibility Study on the Hollandaire copper deposit

Slide 30

Your Company

Growth profile to 400,000 oz and beyond:– excludes expansion at Randalls Mill

l d d ti f G t S th

Port Hedland

Broome

– excludes production from Great Southern– excludes gold production from Hollandaire

Risk diversification:– multiple mines and mills

Newman

Carnarvon

p– operational flexibility– complimentary skill sets

Financial:b t ti l t i d li d th h l i Carnarvon

GeraldtonLaverton

Kalgoorlie M t M

Leonora

MurchisonMt Magnet

– substantial cost savings delivered through clear synergies– increased cashflow to internally fund growth plans– robust profitable business

Large gold resource base with significant upside:

PERTH

Kalgoorlie Mount Monger

EsperanceGreat Southern

g g g p– 6.6Moz resource inclusive of 1.8Moz of reserves– highly prospective, underexplored tenement holding– continued commitment to long term exploration

O tOutcome– one of the largest Australian gold producers – well positioned for further growth

Slide 31

1: Refer to appendix - JORC Resource & Reserve Inventory2: Refer to slide 2 - Exploration Targets

Presentation Appendix


Competent Person’s Statement

Competent Person’s Statement In Regard To Silver Lake’s Ore Reserves & Mineral Resources:

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Christopher Banasik who is a Member of the Australasian Institute of Mining and

ABN: 38 108 779 782

information compiled by Mr Christopher Banasik who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Banasik is a full time employee of Silver Lake Resources Ltd, and has sufficient experience which is relevant to the style of mineralisation under consideration to qualify as a Competent Person as defined in the 2004 edition of the JORC Code. Mr Banasik has given his consent to the inclusion in the report of the matters based on the information in the form and context in which it appears.

The information in this report that relates to Ore Reserves is based on information under the direction of Mr Christopher Banasik who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Banasik is a p f f g gyfull time employee of Silver Lake Resources Ltd, and has sufficient experience which is relevant to the style of mineralisation under consideration to qualify as a Competent Person as defined in the 2004 edition of the JORC Code. Mr Banasik has given his consent to the inclusion in the report of the matters based on the information in the form and context in which it appears.

Members of the Company’s team preparing Ore Reserve Estimates under Mr Banasik’s supervision all qualify as competent persons.

Competent Person’s Statement In Regard To Integra’s Ore Reserves & Mineral Resources:

Information in this announcement that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information reviewed by Chris Cairns, Managing Director who has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results Mineral Resources and Ore Reserves” Chris Cairns is a member of The Reporting of Exploration Results, Mineral Resources and Ore Reserves . Chris Cairns is a member of The Australasian Institute of Geoscientists and consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

Information in this announcement that relates to Mineral Resources and Ore Reserves has been compiled by Terry Brown, General Manager Project Development - Integra Mining, who has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Terry Brown is a Member of the Australasian Institute of Mining and Metallurgy and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Slide 33

Pro forma Combined Entity Gold Resources & Ore Reserves

Ore Grade Total Ore Grade Total Ore Grade Total Ore Grade Total

t g/t Au Oz Au t g/t Au Oz Au t g/t Au Oz Au t g/t Au Oz AuDeposit

Measured Resources Indicated Resources Inferred Resources Total Resources

‘000s ‘000s ‘000s ‘000s ‘000s ‘000s ‘000s ‘000s

T otal Mount Monger 3,371.5 4.3 466.6 21,528.3 3.2 2,191.3 9,093.3 3.8 1,098.9 33,993.1 3.4 3,756.8

Hollandaire - - - - - - 1,100.0 0.5 18.0 1,100.0 0.5 18.0

T otal Murchison 36.0 0.6 0.7 8,474.0 3.2 879.0 11,960.0 2.7 1,028.0 20,470.0 2.9 1,907.7

T otal Great Southern 310.0 2.4 23.9 10,140.0 1.9 617.7 4,730.0 2.0 311.7 15,180.0 2.0 952.3

T otal 3,717.5 4.1 491.2 40,142.3 2.9 3,688.0 25,783.3 2.9 2,438.6 69,643.1 3.0 6,616.8

Ore Ore Ore

tonnes Grade Total tonnes Grade Total tonnes Grade Total

‘000s ‘000s ‘000s ‘000s ‘000s ‘000s

Proved Reserves Probable Reserves Total Reserves

Mount Monger 2,415.7 1.7 129.6 7,564.4 3.3 793.4 9,980.1 2.9 923.0

Murchison 77.0 1.0 2.5 4,871.3 2.7 424.8 4,948.3 2.7 427.3

Great Southern 310.0 2.2 22.0 7,130.0 1.8 420.1 7,440.0 1.8 442.1

As at June 2012G ld i l i f

Total Ore Reserve 2,802.7 1.7 154.1 19,565.7 2.6 1,638.3 22,368.4 2.5 1,792.4

Slide 34

Gold resources are inclusive of ore reserves

Integra’s Gold Reserves

Deposit JORC Category Tonnes (t) * Gold (g/t)

Contained Gold (oz)

Integra Share

Integra Share (%)

Proved (stockpiles) 1,578,000 1.42 72,040

Probable 536,000 2.17 37,340

Total 2,114,000 1.61 109,390 100%Proved (stockpiles) 290,000 1.99 18,550

Salt Creek

Probable 835,000 4.31 115,710

Total 1,125,000 3.71 134,260 100%Proved 0 0.00 0

Santa Area Probable 1,567,000 1.71 86,180

T t l 1 567 000 1 71 86 180 100%

Maxwells

Total 1,567,000 1.71 86,180 100%Proved 0 0.00 0

Probable 999,600 2.44 78,420

Total 999,600 2.44 78,420 85%Proved 0 0.00 0

Majestic

Lucky Bay Probable 123,000 4.85 19,180

Total 123,000 4.85 19,180 100%Proved 0 0.00 0

Probable 1,135,000 2.37 86,480Harrys Hill

Total 1,135,000 2.37 86,480 100%Proved 1,868,000 1.51 90,590

Probable 5,196,000 2.53 423,310Total 7,064,000 2.26 513,900

Total

Slide 35As at June 2012

Silver Lake’s Gold Reserves

Ore Ore Ore

Proved Reserves Probable Reserves Total Reserves

tonnes Grade Increment Total tonnes Grade Increment Total tonnes Grade Increment Total

‘000s ‘000s ‘000s ‘000s ‘000s ‘000s

Daisy Milano - ‐ - 1,231.7 5.6 g/t Au 219.7 1231.7 5.6 g/t Au 219.7

Haoma - ‐ - 792.1 5.1 g/t Au 130.7 792.1 5.1 g/t Au 130.7g g

Wombola 222.8 1.6 g/t Au 11.3 344.6 1.8 g/t Au 19.7 567.4 1.7 g/t Au 31.0

Mt Monger Stockpile 324.9 2.6 g/t Au 27.7 324.9 2.6 g/t Au 27.7

Murchison Project 4 871 3 2 7 g/t Au 424 8 4 871 3 2 7 g/t Au 424 8Murchison Project 4,871.3 2.7 g/t Au 424.8 4,871.3 2.7 g/t Au 424.8

Murchison Stockpile 77.0 1.0 g/t Au 2.5 77.0 1.0 g/t Au 2.5

Kundip Project - ‐ g/t Au - 2,810.0 3.4 g/t Au 307.2 2,810.0 3.4 g/t Au 307.2

T il P j 310 0 22 0 4 320 0 112 9 4 630 0 134 9 Trilogy Project 310.0 2.2 g/t Au 22.0 4,320.0 0.8 g/t Au 112.9 4,630.0 0.9 g/t Au 134.9

Total Reserve 934.7 2.2 g/t Au 63.5 14,369.7 2.6 g/t Au 1,215.0 15,304.4 2.6 g/t Au 1,278.5

Slide 36As at June 2012

Integra’s Gold Resources

JORC C t T (t) G ld ( /t)

Contained G ld ( )JORC Category Tonnes (t) Gold (g/t) Gold (oz)

Integra Share

Measured 2,242,000 1.36 98,000Total Resource Indicated 18,825,000 2.45 1,482,000

Inferred 5,780,000 2.56 475,000Total 26,847,000 2.38 2,055,000

Total Resource Including Reserves


Slide 37


Silver Lake’s Gold Resources

Ore Grade Total Ore Grade Total Ore Grade Total Ore Grade Total


t g/t Au Oz Au t g/t Au Oz Au t g/t Au Oz Au t g/t Au Oz Au

‘000s ‘000s ‘000s ‘000s ‘000s ‘000s ‘000s ‘000s

T otal Mount Monger 1,129.5 10.2 368.6 2,703.3 8.2 709.3 3,313.3 5.9 623.9 7,146.2 7.4 1,702.1

Murchison - OP 36.0 0.6 0.7 7,334.0 2.2 526.8 6,090.0 2.0 380.0 13,460.0 2.1 907.5

Deposit

Murchison - UG - - - 2,490.0 4.3 350.0 4,770.0 4.0 630.0 7,260.0 4.1 980.0

Hollandaire - - - - - - 2,800.0 0.4 34.1 2,800.0 0.4 34.1

T otal Murchison 36.0 0.6 0.7 9,814.0 2.8 879.3 13,660.0 2.4 1,044.1 23,520.0 2.8 1,921.6 T otal Murchison 36.0 0.6 0.7 9,814.0 2.8 879.3 13,660.0 2.4 1,044.1 23,520.0 2.8 1,921.6

T otal Great Southern 310.0 2.4 23.9 10,140.0 1.9 617.7 4,730.0 2.0 311.7 15,180.0 2.0 952.3

T otal Silver Lake 1,475.5 8.3 393.2 22,657.3 3.0 2,206.3 21,703.3 2.8 1,979.7 45,846.2 3.1 4,576.0


Slide 38


SLR JORC Base Metal Resource

Ore Ore Ore Ore

tonnes Grade Increment Total Unit tonnes Grade Increment Total Unit tonnes Grade Increment Total Unit tonnes Grade Increment Total Unit

‘000s ‘000s ‘000s ‘000s ‘000s ‘000s ‘000s ‘000s


Kundip Project

Silver - ‐ g/t Ag - oz 4,390.0 2.5 g/t Ag 353.9 oz 4,550.0 2.1 g/t Ag 314.2 oz 8,940.0 2.3 g/t Ag 668.1 oz

Copper - ‐ % Cu - t 4,390.0 0.4 % Cu 15.6 t 4,550.0 0.3 % Cu 14.7 t 8,940.0 0.3 % Cu 30.2 t

Trilogy Project

Silver 310.0 41.2 g/t Ag 406.6 oz 5,750.0 48.0 g/t Ag 8,859.6 oz 180.0 12.0 g/t Ag 73.4 oz 6,240.0 47.0 g/t Ag 9,339.7 oz

Copper 310.0 0.3 % Cu 0.9 t 5,750.0 1.1 % Cu 62.3 t 180.0 0.8 % Cu 1.4 t 6,240.0 1.0 % Cu 64.6 t

Hollandaire

Silver - ‐ ‐ ‐ oz - ‐ ‐ - oz 2,800.0 5.0 g/t Ag 457.8 oz 2,800.0 5.0 g/t Ag 457.8 oz

Copper - ‐ ‐ ‐ t - ‐ ‐ - t 2,800.0 1.6 % Cu 45.1 t 2,800.0 1.6 % Cu 45.1 t

Total Resource

Silver 310.0 40.8 g/t Ag 406.6 oz 10,140.0 28.3 g/t Ag 9,213.5 oz 4,730.0 2.5 g/t Ag 386.6 oz 17,980.0 18.1 g/t Ag 10,465.5 oz

Copper 310.0 0.3 % Cu 0.9 t 10,140.0 0.8 % Cu 77.8 t 7,530.0 0.8 % Cu 61.2 t 17,980.0 0.8 % Cu 140.0 t pp , , ,

All resources as at June 2012 except Hollandaire which is as at September 2012

Slide 39

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