Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine JASON SANDER General Manager 14th July 2014 Forward looking statements
Certain statements in this document constitute “forward looking statements” within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934.
In particular, the forward looking statements in this document include among others those relating to the Damang Exploration Target Statement; the Far Southeast Exploration Target Statement; commodity prices; demand for gold and other metals and minerals; interest rate expectations; exploration and production costs; levels of expected production; Gold Fields’ growth pipeline; levels and expected benefits of current and planned capital expenditures; future reserve, resource and other mineralisation levels; and the extent of cost efficiencies and savings to be achieved. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the company to be materially different from the future results, performance or achievements expressed or implied by such forward looking statements. Such risks, uncertainties and other important factors include among others: economic, business and political conditions in South Africa, Ghana, Australia, Peru and elsewhere; the ability to achieve anticipated efficiencies and other cost savings in connection with past and future acquisitions, exploration and development activities; decreases in the market price of gold and/or copper; hazards associated with underground and surface gold mining; labour disruptions; availability terms and deployment of capital or credit; changes in government regulations, particularly taxation and environmental regulations; and new legislation affecting mining and mineral rights; changes in exchange rates; currency devaluations; the availability and cost of raw and finished materials; the cost of energy and water; inflation and other macro-economic factors, industrial action, temporary stoppages of mines for safety and unplanned maintenance reasons; and the impact of the AIDS and other occupational health risks experienced by Gold Fields’ employees.
These forward looking statements speak only as of thedateof this document. Gold Fields undertakes no obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 2 Agnew/Lawlers Gold Mine
Location
● Map of site/tenement position • Located in the Eastern Goldfields Province of the ● Show pits, plants, shafts etc Archaean aged Yilgarn Craton ● Size of tenements etc
• 1,020km NE by sealed road from Perth
• 380km north by sealed road from Kalgoorlie
• Full mining and processing facilities
• Fly in / Fly out from Perth – reside in Leinster
• 8 days on / 6days off roster
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 3 Agnew/Lawlers Gold Mine
Location
• Agnew Mill (EMU Mill) located 25 km SW of Leinster
• Waroonga underground mine located located adjacent to the Agnew Mill 2500m 5000m • New Holland underground mine located 2km NW of Agnew Mill
• 78,547ha granted tenements (Including Lawlers purchase of ~27,000ha) Leinster - 100 mining leases
- 18 exp lora tion licences
- 27 prospecting leases
• Tenements focused on the northern portion of the Norseman- Agnew Mill Wiluna Greenstone Belt, ~35km north and south and ~25km SE of the Agnew Mill
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 4 Agnew/Lawlers Gold Mine
History
1894 Patrick Lawlers’ prospecting party finds gold 1896 Lawlers town site gazetted 1904 Waroonga Mine opened 1936 Agnew town site gazetted 1976 WMC ppgurchases Waroonga Leases and Emu Mine 1984 Forsayth NL purchases Great Eastern Lease Modern open pit mining commences at Waroonga 1986 Modern open pit mining commenced at Lawlers 1990 Genesis New Holland discovered 1992 Plutonic Resources purchase Forsayth NL 1998 Homestake acquires Plutonic Resources 2001 Gold Fields acquires Agnew from WMC Barrick merges with Homestake 2002 Kim lode discovered 2012 FBH discovered 2013 Gold Fields purchases Lawlers from Barrick Agnew Produced 2.4 Moz Since Acquisition From WMC In 2001
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 5 Agnew/Lawlers Gold Mine
Historical Production
Agnew mined 28. 2mt @ 5. 0g/t Au for 4.4 Moz since commercial production commenced in 1987 to December 2013
Lawlers mined 17.1mt @ 4.1g/t Au for 2.3 Moz since commercial production commenced in 1985 to December 2013
~7 Moz Produced To Date – 10 Moz Within Reach
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 6 Agnew/Lawlers Gold Mine
Historical Production Lawlers District: 1894 - 2013
Tonnes Grade Ounces Lode Kt g/t Moz
Pre 1985 951 12.9 0.39
Agnew 28, 158 505.0 4564.56
Lawlers 17,058 4.1 2.27
Total 46,167 4.9 7.23
Waroonga/New Holland: 1894 - 2013
Tonnes Grade Ounces Lode Kt g/t Moz
Pre 1985 359 7.8 0.09
Waroonga 10, 516 646.4 2152.15
New Holland 9,413 5.3 1.62
Total 20,288 5.9 3.86
Waroonga/New Holland production is around 3,000oz per hectare to date
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 7 Agnew/Lawlers Gold Mine
Replacement of Reserves
Typical Regenerative Orogenic Geology
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 8 Agnew/Lawlers Gold Mine
Replacement of Reserves
Lawlers Reserves and Production
141.4
1.2
1.0
0.8 Ounces
0.6 Million
0.4
0.2
0.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Reserve Production Cumulative Production Reserve @ 06/13
Typical Regenerative Orogenic Geology
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 9 Agnew/Lawlers Gold Mine
Management Team
Jason Sander General Manager
Dave Mike Mead Neil Lester Peter Johansen Amanda Swart Thornton Dayna Dankbaar Sustainable Engineering & Mineral Business Mining HR Applications Superintendent Development Processing Resources Manager Superintendent Manager Manager Superintendent
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 10 Agnew/Lawlers Gold Mine
Jason Sander – General Manager Dave Thornton – Mining Manager
• B Eng (Mining) (Hons) • Commenced with Gold Fields in 2005. In Agnew • B. Eng. (Mining Eng.) GM role since Dec 2013. • At Agnew since October 2013. • Prior work history with • Prior work history with Barrick at Tritton Resources Ltd, their Darlot & Lawlers mine and WMC/ Gold Fields – St with MacMahon’s (Olympic Ives, HWE and Roche Bros Dam) and Harmony at BHP Billiton Pilbara sites
Peter Johansen - Mineral Resources Manager Neil Lester– Engineering & Processing Manager
• B. Sc. (()Hons) • BSc (Hons) , Grad Dip Bus • 7.5 years at Agnew Admin, Grad Dip Extractive • 25 years experience in Metallurgy exploration and mining in • At Agnew since Nov 2013 Australia and PNG – Au, • Prior to that with Barrick at their CU, Ni and Fe Lawlers, Kanowna and • Previous roles with CRAE Paddington sites in the goldfields (Pilbara and WA Goldfields) region of Western Australia and Newmont (()Jundee)
MANAGEMENT TEAM
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 11 Agnew/Lawlers Gold Mine
Amanda Swart – Business Applications Dayna Dankbaar – HR Superintendent Superintendent
• Diploma of Accounting • B. Mngt. (HR) • 8 months at Agnew • 3yrs 9mths at Agnew • Previously Commercial Manager • Prior work experience in Australia Leighton Contractors, Admin Supt with Harrier, Poyry Pty Ltd, Abi Dominion Gold Ops , prior roles Group, Worley Parsons and with Vale Australia, Origin Energy, Martens and Heads (New York). Mt Magnet Gold, Plutonic Resources, Deeson Heavylift.
Mike Mead – Sustainable Development Superintendent • BSc (Environmental Science) / BSc. Marine Science • 12 months at Agnew • Prior experience with Consolidated Minerals Woodie Woodie Project, and DEC (WA)
MANAGEMENT TEAM
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 12 What did we buy? Agnew/Lawlers Gold Mine
Acquisition of Lawlers Gold Mine: What Did We Buy?
POSITIVES CHALLENGES
● A strong strategic fit with Agnew and GFA ● Embedding full value from consolidating the sites
● A team of good and focussed operators ● Introducing Gold Fields operating franchise and DNA
● A mature and well-functioning mine site ● Exploration spend and lead time required to realise
● Significant potential for synergies: exploration potential and add / replace quality reserves
̵ One mill
̵ One camp
̵ Optimised site power
̵ Contract consolidation
̵ People rationalisation
̵ Increased overall site flexibility
● Significant resource extension and brownfields exploration potential
A Great Acquisition With Significant Upside
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 14 Agnew/Lawlers Gold Mine
Resources & Reserves and Main Ore Bodies GiOPitGenesis Open Pit New Holland Open Pit Mineral Resource (@ A$1,570/oz): 19.2Mt @ 5.93g/t for 3.66Moz Hidden Secret Open Pit Mineral Reserve (@ A$1,370/oz): 4.2Mt @ 7.05g/t for 0.95Moz 200 Series
500 Series
600/700 Series Sheba
Waroonga Pit
Main
Kim
FBH
Edmunds Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 15 Agnew/Lawlers Gold Mine
Site and Infrastructure
Agnew (EMU) Processing Plant • 600kW Jaw crusher • 12MtpaCIL1.2Mtpa CIL • Cyanide Code Compliant • In-pit TSF (5km away)
Waroonga UG Agnew Paste Plant • Dry tails designed Aran plant commissioned in 2008 • Average production rate of 110m3/hr with a maximum of 200m3/hr Waroonga Underground • Single decline truck haulage from a portal in the Waroonga pit • Ramp Gradient = 1:7 • Decline and Truck Access Profile (5.2m wide x 5.8m high) • Ore Drive Profile (5.0m wide x 5.0m high)
New Holland Underground • Decline truck haulage from portals in the New Holland and Genesis pits
•Ramp Gradient = 1:7 EMU Processing Facility • Decline and Truck Access Profile (5.0m wide x 6.0m high) • Ore Drive Profile (4.6m wide x 4.7m high)
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 16 Agnew/Lawlers Gold Mine
Other Site Infrastructure
Leinster airport
Leinster
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 17 Why did we buy Lawlers? Agnew/Lawlers Gold Mine
Our Due Diligence View
● What did we see overall? ̵ Two side by side operations with different mining methods that can be streamlined into one multi-mine operation
● Can meet GFI key metric of 15% FCF margin at a gold price of US$1,300/oz ̵ Closing down the Lawlers Processing Facility ̵ Reducing duplication ̵ Focusing on near mine potential
● Synergies ̵ Operating mine less than 5km away from the Agnew Processing Facility ̵ Operate the Agnew Processing Facility at full capacity ̵ Well established skilled workforce ̵ Com bidkfibined workforce in one camp an dilflihd single flight prov ider ̵ Access to water
● Resource and reserve growth
● Regional exploration potential
Potential To Be A Gold Fields Franchise Asset
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 19 Agnew/Lawlers Gold Mine
Our Due Diligence View
Genesis Open Pit New Holland Open Pit
Hidden Secret Open Pit
Sheba
Potential for deeper lodes??
Potential extensions Current target areas Drilled, to be developed New Holland Under Explored - Gets Better!
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 20 Agnew/Lawlers Gold Mine
Our existing View of Agnew ’s potential
Kath Rajah
Main South Main North
Waroonga North Hauptspalt
Yeoman FBH
Kim
Indicated Resource Link Inferred Resource Pre-resource early stage target
Target Zones High Grade Shoots Open at Depth – Potential Along Strike!
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 21 What have we done since the acquisition? Agnew/Lawlers Gold Mine
Strategic Focus: Delivering Results
● Synergies realised
̵ Lawlers Processing facility placed on care and maintenance at end of October 2013
̵ Downsized the workforce and kept the highest performers
̵ Lawlers Camp placed on care and maintenance and employees now in Leinster
● Historically high grade and strong margin producer
̵ Transitioning to deeper mining and changing mining conditions
̵ Strat egy i n pl ace to mai n tai n t onnage rat e and margi n
● Controlling the Cost Profile at Depth
̵ Reviewinggg underground minin g cost basis at Waroon ga Under ground
● Reserve Growth
̵ Targeting near surface opportunities in close proximity to the Waroonga / New Holland Complex
● Optimisation of the synergies from integration of Agnew with Lawlers
̵ Two discreet mines provides greater optionality
̵ Full Mill Capacity with additional gravity circuit upside with low capital expense
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 23 Agnew/Lawlers Gold Mine
Synergies from acquisition (in -place and planned)
Synergy Overall Impact
Utilization of equipment between mines – Cost savings, reduced capital spend truck, loader, production drilling Closure of Lawlers Mill Significant cost saving - $7.8Mpa (processing cost alone before electricity increase) Potential to increase further AiditiltAcquired critical water resource Establish a fit for purpose workforce Amalgamation of skilled workforce Review of organisational structure resulted in 64 redundancies
Review and consolidation of supply Cost savings due to increased bargaining power with contracts suppliers of diesel, power, explosives, freight
Consolidation of flights & accommodation Cost savings – terminated additional catering & charter flight contracts Morale - all personnel residing in the same camp and FIFO via Leinster
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 24 Agnew/Lawlers Gold Mine
New Holland: Leveraging Improved Production and AIC
● Equipment rationalisation enabled significant Capex and Opex savings.
● Removed the Barrick corppqorate requirement for surface su pport all developpggyment headings. Along with efficiency improvements enabled the decommissioning of a Jumbo drill rig
● Significant improvement in mine layouts and drive location to minimise internal dilution
̵ More se lec tive mi ni ng meth od t o ensure 15% free cas h flow marg ins are ac hieve d
Genesis 500 Series Low-Grade Halo
High-grade Core Ore Drive
Ore Drive
After Before
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 25 Agnew/Lawlers Gold Mine
Waroonga: Leveraging Improved Production and AISC
● Introduction of in-pit haulage at both New Holland and Waroonga
● Significant reduction in capital development per level in the Lower Kim South area
2013 Original Design Final July Design
Reduction in development achieved through optimisation of stope extraction sequence ̵ First staggpe improvement -> 148m of development Total of 210m reduction per level ̵ Second stage improvement -> 62m of development (~$1.3M savings)
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 26 Agnew/Lawlers Gold Mine
Recent Performance
• Focus on free cash flow and growing the
margin
• No ounces for ounces sake, no marginal
mining
• Optimised contractor vs owner mining
• Site specific cost savings and business
process re-engineering
Gold Fields Control
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 27 Agnew/Lawlers Gold Mine
Key Metrics KPI’s Unit Q4 2013 Q1 2014
Safety LTI’s 0 0
Ore mined - UG kt 267 266
Mined grade - UG g/t 7.32 6.91
Ore processed kt 349 294
Head grade g/t 6.52 6.35
Recovery % 91. 5 94. 6
Gold sold koz 73.6 59.2
Revenue US$m 94.5 76.1
Operating cost US$m 41.8 41.2
Operating Profit US$m 52.7 34.9
Capital expenditure US$m 19.5 20.9
AISC US$/oz. 929 1,025
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 28 Processing Agnew/Lawlers Gold Mine
Processing Plant
• Contract crushing -1.3 Mtpa tertiary crushing plant
• 2 stage ball milling circuit consists of closed primary ball mill (1.2 MW) and closed secondary ball mill (1.1 MW)
• Throughput 1.3 Mtpa
• Leach feed of p80 106 to 125 microns
• Gravity circuit of two 30” Knelson concentrators feeding an ILR. Gravity recovery typically 50% to 70%
• Leach circuit consists of three 1,390 m3 leach tanks and six 490 m3 leach tanks. Residence time is 24 hours.
• Typi cal p lan t recovery is 94% to 95%.
• Effort since amalgamation of operations is directed at maximising mill throughput
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 30 Agnew/Lawlers Gold Mine
Milling, Gravity Circuit and Gold Recovery
Nameplate Capacity: 120Mtpa1.20Mtpa
Ball mill 1 feed size (P80): 8mm Grind size (P80): 106 -125 m Ball mill 1 charge: (80mm balls) Ball mill 2 charge: (50mm balls)
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 31 Agnew/Lawlers Gold Mine
Tailings Storage Facility
• In-pit TSF3 commenced in 2004 in the old Redeemer pit and underground
• Current capacity 4.5 Mt (as at June 2014)
• Currently investigating additional Life of Mine TSF options.
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 32 Agnew/Lawlers Gold Mine
Processing - Grade
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 33 Agnew/Lawlers Gold Mine
Processing - Recovery
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 34 Mining - Underground Agnew/Lawlers Gold Mine
Waroonga Underground
Mineral Resources : • 10.31Mt @ 6.20g/t for 2,055koz Mineral R eserves: • 2.96Mt @ 7.47g/t for 712koz
Overview: ̵ One underground mine, accessed by one portal ̵ Main focus is the higher grade Kim orebody ̵ Utilise longhole open stoping combined with paste fill ̵ Vertical depth of 1,200m ̵ High stress conditions, utilise fibrecrete for ground support ̵ Barminco Contract for all underground mining ̵ Fleet of: • 8Truc ks (Atlas Copco) • 4 Loaders (Caterpillar) • 2 Jumbos (Sandvik) • 2 Production Drills (Atlas Copco) • 3 Charge rigs Waroonga Pit • Two Spray rigs • 3 Agi trucks for fibrecrete
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 36 Agnew/Lawlers Gold Mine
255,000 Waroonga Underground • Decline accessed Waroonga Pit • Full Contract Mining • Longhole open stoping with paste fill • Steeply dipping discrete orebodies. 6,900,000 6,900,000
255,000 300m Access Drives
Vent Infrastructure
Developed Areas Historical Stopes Future Mining Areas
Link
Longsection facing East
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 37 Agnew/Lawlers Gold Mine
Waroonga Underground Mining Methods –Stope Sequence - M Front transition ● Transition to the M Front commenced in Q1 with the southern side completed ● Northern extent due to transition in Q3
50m 100m
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 38 Agnew/Lawlers Gold Mine
New Holland Underground
Mineral Resources: • 2.22Mt @ 8.78g/t for 627koz Genesis Pit Mineral Reserves: • 1.18Mt @ 6.27g/t for 237koz
OiOverview: ̵ One underground mine, accessed by two portals which are in separate pits New Holland Pit ̵ Main focus is the Genesis 500 series ̵ Utilise longhole open stoping combined with room and pillar ̵ Development intensive due to the flat nature of the orebody ̵ Vertical depth of 600m ̵ Good ground conditions, utilise mesh for ground support ̵ Limited airleg mining for escapeways and stoping slots ̵ Gold Fields do all underground mining ̵ Barminco perform underground diamond drilling ̵ Fleet of: • 4 Trucks (Caterpillar and Atlas Copco) • 4 Loaders (Caterpillar) • 2 Jumbos (Sandvik) •2 Producti on Drill s (A tl as an d San dvik ) • 1 Charge rig
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 39 Agnew/Lawlers Gold Mine
255,000
New Holland Underground Genesis Pit
New Holland Pit 690m
Oblique view facing North West 6,900,000 6,900,000
200mV
250mH
255,000
75-80% Extraction
New Holland Underground: • Decline accessed with 2 Portals • Full owner mining • Utilise longhole open stoping combined with room and pillar • Development intensive due to the flat nature of the orebody.
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 40 OHS & Sustainability Agnew/Lawlers Gold Mine
Key Safety Metrics
Target
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 42 Agnew/Lawlers Gold Mine
Safety Initiatives in 2014
● Vital Behavior's initiated in Q2 (Safety Culture Program)
● Standardisation and increased communication of Agnew’s Injury Management
● Internal Comppgliance Schedule Tracking– QQy(puarterly (bonus parameter )
● Diesel Particulate monitoring has been integrated into existing monitoring programmes
● New Safety Management System and Strategic Plan rolled out to include both New Holland and
Waroonga Critical Hazard Risks Assessments.
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 43 Agnew Gold Mine – Environment and Community
Key Projects for 2014
Item Detail Actions
• Existing Emu bore-field extraction volumes have been optimised across all bores Project 1 Water Security • Water management plans to include the additional water now available from Lawlers bore-fields and pits Project 2 Lawlers operations to be ISO14001 • Lawlers to be included under Agnew’s accredited Environmental Management System Certification (ISO14001) via an upcoming expansion of scope audit
GoldAgnew Fields Gold Australia Mine | Jason Site Visit: Sander Agnew/Law | July 2014lers Gold Mine | Jason Sander | July 2014 44 Agnew Gold Mine
Human Resources
Description 2013 2014
Employees in service 302 285
Contractors 261 281
TE+C 563 566
Tonnes mined/ TE+C 234 251
Oz Sold / TE+C 43 35
*TE+C (Total number of employees plus Total number of Contractors)
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 45 Agnew/Lawlers Gold Mine
Top Five Priorities
● Focus on costs
● Kim South replacement
● Turninggp endowment potential of combined site to account - Life of Mine extension
● Paste Plant management
● Safety management on combined Agnew / Lawlers site
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 46 Mine Geology Agnew/Lawlers Gold Mine
Regional Geology 245,000 250,000 255,000 260,000 265,000 270,000 275,000 Agnew_Geology Felsic 6,930,000 6,930,000 / 6,930,000 6,930,000 Granite
● Situated in northern portion of Norseman-Wiluna Greenstone F 0 2,500 5,000 7,500 10,000 Sediment Meters Siltstone ,925,000,925,000 Belt ,925,000,925,000 6666 6666 Sandstone Conglomerate Mafic 6,920,0006,920,000 ● Locally the Belt is composed of sedimentary and volcanic 6,920,0006,920,000 Mafic Intrusive Dolerite
0000 F 0000 0000
0000 Mafic Volcanic rock packages that all have potential to host gold deposits M F
6,915, 6,915, Basalt 6,915, 6,915, Ultramafic F
M ● Agnew/Lawlers adjacent to major super-crustal structures 6,910,0006,910,000 6,910,0006,910,000 (Ida Fault – Waroonga Shear) that potentially tap the mantle
for gold rich fluids and deliver them to the near-surface 6,905,000 6,905,000 6,905,000 6,905,000 M environment 0,000 0,000 0,000 0,000
0000 Agnew AgnewMill Mill 0000 M 6,96,9 6,96,9
F
M ● Although all Agnew deposits are broadly hosted by 6,895,000 6,895,000 6,895,000 6,895,000
Lawlers Mill M
intersections between structures and stratiggpy,raphy, there are 0000 Lawlers Mill 0000 M
F
subtle differences in alteration and mineralisation controlled 6,890,006,890,00 6,890,006,890,00 M
F in part by the local host rock chemistry F M 6,885,0006,885,000 6,885,0006,885,000
M F
245,000 250,000 255,000 260,000 265,000 270,000 F 275,000 6,880,000 6,880,000 6,880,000 6,880,000
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 48 Agnew/Lawlers Gold Mine
Geology and Mineralisation Agnew_Geology Felsic Granite High potential for Sediment further extensions or repeat lodes Siltstone Sandstone Conglomerate Mafic Mafic Intrusive Dolerite Mafic Volcanic Basalt Ultramafic
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 49 Agnew/Lawlers Gold Mine
Geology and Mineralisation
Waroonga Cross Section 255,000 New Holland Cross Section
Resource: 16. 8 Mt @ 5. 53 g /t for Resource:2. 4 Mt @ 8 .72 g/t for 0 .67Moz 2.99Moz Reserve 1.2 Mt @ 6.24 g/t for 0.24Moz Reserve: 3.0 Mt @ 7.37 g/t for 0.71Moz 00 00 6,900,00 6,900,00
Mafic/
255,000 Ultramafic
Rock Code SSF - Fine Grained Sandstone SSL - Siltstone SSVC - Very Course Sandstone
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 50 Exploration Agnew/Lawlers Gold Mine - Growth Pipeline (Brownfields)
Mine (Extensional) Exploration Regional (Additional) Exploration
Indicated FBH Resource
FBH Resource 500 Series Cinderella Development
The Link Kath Advanced 500 Series Drilling 200 Series
Colours Waroonga Extensions Black: Waroonga 600/700 Series Blue: New Holland Initial Drilling 5 Hidden Secret Cinderella North, Alice Yeoman (Main South) Waroonga North FBH (deep) Target 15 Kim South (deep) GNH (deep) Definition Cams, Pinnacles Eastern Sandstone Research and development Research and development 3-D Leapfrog Modelling 3-D GoCAD & Leapfrog Modelling Ongoing Deep Drilling Programs Mineral Systems/Prospectivity Mapping
Large number of regional targets on Lawlers ground being assessed Potential of all known resources on Lawlers tenement package being reviewed and assessed Open pit resources currently not included in Lawlers resource statement
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 52 Agnew/Lawlers Gold Mine Agnew_Geology Felsic Granite Geology SdiSediment Siltstone Sandstone • Endowment and Waroonga Exploration Potential is Conglomerate strong over combined Mafic Mafic Intrusive tenement areas Dolerite Mafic Volcanic • Lawlers prospect areas Basalt under review – little Ultramafic
surface exploration Target Area completed for last 10+ years
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 53 Agnew/Lawlers Gold Mine
Positioning New Holland and Waroonga Relative To Each Other (looking East) N S 2.6km
Waroonga Nth plunge
600/700 series
~640m 3.2km Previous Lease Boundary
~640m sepggparates the 2 underground mining areas Very large system with potential to +2km depth Waroonga ̵ NH-G beyond 700 series Deeps ̵ Hidden Secret plunge 2000m bs ̵ Waroonga North ̵ Waroonga Deeps
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 54 Agnew/Lawlers Gold Mine
The Targets (Plan view and looking West)
Hidden Secret 200 Series 253,000 254,000 255,000
,000 ,000 500 Series 33 33 6,90 6,90
1,500 m 6,902,000 6,902,000 6,901,000 6,901,000 0 0 00 00 6,900,0 6,900,0
/ 1,000 m 0 300 600
Meters 253,000 254,000 255,000
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 55 Agnew/Lawlers Gold Mine
Waroonga Drilling Results: Kath Upper , Kim/Fitzroy Positions
8. 2m @ 11. 5g/t incl. 4 .6m @ 15 . 4g/t
Kath Upper Rajah
Waroonga North Main South Main Legend North Target completed, Preliminary Assays received Target completed , Assays Kath Pending Target not yet completed Yeoman Existing intersection point on FBH “Kim Contact”
75
50
EMSD1080W7: Gram-Metre-Product 40 Kim: 12.6m @ 6.7g/t incl. 4.5m @ 14.8g/t Isoline Legend: 30 Fitzroy: 4.8m @ 3.2g/t EMSD1081W9: Midreef: NSA 20 Kim: 5.5m @ 6.9g/t incl. 1.3m @ 17.4g/t Link Bengal: NSA 10 Fitzroy: 1.6m @ 1.8g/t 5 Midreef: NSA Kim Bengal: NSA EMSD1080W8: Kim: 1.3m @ 16.2g/t Note: Gram-Metre-Product Isolines highlight general areas of mineralisation and do not EMSD1081W10: Fitzroy: 1.3m @ 1.5/t necessarily highlight high grade ore shoots! Only Kim/Fitzroy: 7.8m @ 5.4g/t incl. 1.8m @ 9.2g/t Midreef: 5.0m @ 2.2g/t Fitzroy/Bengal Isolines are true-width-corrected. Midreef: 4.8m @ 5.7g/t incl. 2.2m @ 10.4g/t 10.0m @ 1.8g/t Other Isolines represent down-hole intersections. Bengal: 3.1m @ 1.8g/t Bengal: 9.8m @ 3.0g/t incl. 7.89m @ 3.37g/t Waroonga Stopes and Development as of end of Hastings (?): 11.7m @ 2.4g/t December 2013 EMSD1081W12: EMSD1081W11: Kim/Fitzroy: 3.0m @ 2.4g/t Kim/Fit zroy: 17317.3m @43@ 4.3g /ti/t inc l. 343.4m @123/t@ 12.3g/t Midreef: 27. 9m @ 4. 0g/t Incl. 2 .6m @ 12 .3g/t Midreef: Assays Pending Incl. 6.9m @ 6.4g/t Target Zones Bengal: Assays Pending Bengal: 3.89m @ 2.76g/t
N – S Longitudinal Section, looking East. Isolines shown are for Kim/Fitzroy Surface only.
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 56 Agnew/Lawlers Gold Mine
Waroonga Drilling Results: Waroonga North, Kath
EMSD1104: Kath Upper 0.3m @ 23.2g/t Rajah
EMSD1103: 2.37m @ 19.0 g/t Waroonga North Main South Main North EMSD1125A: 8.07m @ 2.10g/t EMSD1090: 3. 5m @ 11. 15g/t incl. 1 .58m @ 22. 96g/t Kath EMSD1134: Legend 4.13m @ 8.17g/t incl. 1.60m @ 17.68g/t Yeoman Existing intersection point on EMSD1139: FBH “Edmunds Footwall” 5.2m @ 15.03g/t incl. 2.73m @ 19.73g/t Gram-Metre-Product Isoline Legend: 7 5 5 0 4 0 3 0 2 0 1 KSOD46001: Link 0 1.9m @ 10.3g/t Kim 5
KSOD46002: Note: Gram-Metre-Product Isolines highlight 1m @ 12.1g/t general areas of mineralisation and do not necessarily highlight high grade ore shoots! KSOD46003: Only Fitzroy/Bengal Isolines are true-width- 0.8m @ 10g/t corrected. Other Isolines represent down-hole intersections. WDU1226: Waroonga Stopes and Development as of 3.5m @ 20.5g/t end of December 2013
N – S Longitudinal Section, looking East. Isolines shown are for Edmunds/Bengal surface only.
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 57 Agnew/Lawlers Gold Mine
Genesis New Holland Exploration
200 Series
Hidden Secret
500 Series
Obvious targets tested in 2014
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 58 Agnew/Lawlers Gold Mine
The 200 Series
TtATarget Area
• Current 200 Series reserve approximately 250m along strike • Interpreted structure extends another ~950m but is not sufficiently drill ttdtested
250Koz Target
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 59 Agnew/Lawlers Gold Mine
The 500 Series
South North Target Area Extrapolation of 500 Series position
Genesis Pit
• Genesis 500 main ounce producer since 2011 • Mineralised system is open to the north – Structures intersected 200m north in 2014 Q1 • Drilling to test further extensions of the 200 Series as well
500Koz Target
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 60 Agnew/Lawlers Gold Mine
600/700 Series South North
600/700 Series
1.2m @15g/t
NHlldNew Holland
Genesis
700 S eri es currentl y > 400m 600 Ser ies curren tly >800m Batavia strike length and a further strike length approximately Sheba 100m below 600 series. 120m below 500 Series. Open to north and south Open to north and south
+250Koz Resource Target
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 61 Agnew/Lawlers Gold Mine
Hidden Secret [email protected]/t [email protected]/t [email protected]/t Hidden Secret Pit [email protected]/t
Hidden Secret
1m@105g/t [email protected]/t
[email protected]/t incl. 1m@142g/t [email protected]/t
[email protected]/t WARCD0470 Hidden Secret [email protected]/t 4m@23. 0g/t WARCD0470 WARCD0470
[email protected]/t incl. [email protected]/t WARCD0470
Longsection of Hidden Secret with Au >10g/t [email protected]/t WARCD0470
0.3m@307g/t WARCD0470 • Wide spaced drilling between New Holland and [email protected]/t WARCD0470 New Holland Hidden Secret pits • Presence of high grade (westerly style) mineralisation similar to the 500 series
200m • No drilling at depth
1.6km Strike Length – Existing High Grade Intersections
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 62 Agnew/Lawlers Gold Mine
Conclusions
• Outstanding reserve replacement history
- Agnew and Lawlers have historically had a LoM of approximately 3 years, every year, since 1986
• Situated in a highly prospective region for further gold discovery
• Experienced focused management team
• About to develop a new major orebody which will improve margins • Well positioned with excellent exploration potential to extend life and deliver ounces at targeted AISC’s
A Strong GFI Franchise Asset
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 63 Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine JASON SANDER General Manager 14th July 2014