Marigold Life of Mine Plan Confirms Near-Term Production Growth

• Robust economics: After-tax net present value of US$552 million based on a US$1,300 per ounce gold price, a 5 percent discount rate and the 2017 year-end mineral reserves.
• Large gold reserve base in Nevada: Mineral reserves of 3.2 million ounces of gold for over ten years of mining to 2028 and gold production through to 2032.
• Near-term production growth: Average annual production for the period 2019 to 2020 increases to 218,000 ounces of gold, in-line with the 5-Year Outlook announced in 2016.
• Increased production scale: Average annual production is 236,000 ounces of gold in the first six years, with peak gold production of more than 265,000 ounces of gold in 2021 and 2022.
• Competitive life of mine cost position: Life of mine cash costs of US$730 per payable ounce of gold and all-in sustaining costs of US$966 per payable ounce of gold.
• Low capital intensity: Capital expenditures of US$284 million or US$120 per ounce of gold over the life of mine.
• Potential for further mine life extension: Incremental Indicated Mineral Resources of 2.5 million ounces of gold provides potential to extend mine life or increase annual production

Paul Benson, president & CEO, commented: