Group JORC Resources and Reserves in Accordance with JORC Code 2012(1)(8) as of 31/12/2016. WAI 2017(1)(8)

Group Assets in Amur Region. Total
Mineral ResourceOre Reserve
CategoryTonnage (Mt)Avg. Grade (g/t)Contained Metal (Moz)CategoryTonnage (Mt)Avg. Grade (g/t)Contained Metal (Moz)
Measured 52 0.94 1.57 Proven 32 0.82 0.84
Indicated 418 0.89 11.96 Probable 230 0.96 7.11
M+I 470 0.90 13.53 P+P 262 0.95 7.95
Inferred 257 0.80 6.63        

 

Sub Total: Non Refractory (Open Pit and Underground)
Mineral ResourceOre Reserve
CategoryTonnage (Mt)Avg. Grade (g/t)Contained Metal (Moz)CategoryTonnage (Mt)Avg. Grade (g/t)Contained Metal (Moz)
Measured 34 0.91 0.99 Proven 22 0.69 0.49
Indicated 207 0.96 6.36 Probable 96 1.10 3.39
M+I 241 0.95 7.35 P+P 118 1.03 3.88
Inferred 115 0.96 3.55        

 

Sub Total: Refractory (Open Pit)
Mineral ResourceOre Reserve
CategoryTonnage (Mt)Avg. Grade (g/t)Contained Metal (Moz)CategoryTonnage (Mt)Avg. Grade (g/t)Contained Metal (Moz)
Measured 18 0.99 0.58 Proven 9.9 1.11 0.35
Indicated 211 0.82 5.60 Probable 134 0.86 3.72
M+I 229 0.84 6.18 P+P 144 0.88 4.07
Inferred 142 0.67 3.08        

 

Sub Total: Open Pit (Refractory and Non-Refractory)
Mineral ResourceOre Reserve
CategoryTonnage (Mt)Avg. Grade (g/t)Contained Metal (Moz)CategoryTonnage (Mt)Avg. Grade (g/t)Contained Metal (Moz)
Measured 52 0.94 1.57 Proven 32 0.82 0.84
Indicated 415 0.85 11.37 Probable 227 0.92 6.74
M+I 467 0.86 12.94 P+P 259 0.91 7.58
Inferred 256 0.79 6.48        

 

Sub-Total: Underground (Non-Refractory)
Mineral ResourceOre Reserve
CategoryTonnage (Mt)Avg. Grade (g/t)Contained Metal (Moz)CategoryTonnage (Mt)Avg. Grade (g/t)Contained Metal (Moz)
Measured - - - Proven - - -
Indicated 2.77 6.56 0.59 Probable 2.25 5.14 0.37
M+I 2.77 6.56 0.59 P+P 2.25 5.14 0.37
Inferred 1.25 3.91 0.16        

 

Sub-Total: Open Pit (Non-Refractory)
Mineral ResourceOre Reserve
CategoryTonnage (Mt)Avg. Grade (g/t)Contained Metal (Moz)CategoryTonnage (Mt)Avg. Grade (g/t)Contained Metal (Moz)
Measured 345 0.91 0.99 Proven 22 0.69 0.49
Indicated 204 0.88 5.78 Probable 93 1.01 3.02
M+I 238 0.88 6.76 P+P 116 0.94 3.51
Inferred 114 0.93 3.40        

 

Sub-Total: Open Pit (Refractory)
Mineral ResourceOre Reserve
CategoryTonnage (Mt)Avg. Grade (g/t)Contained Metal (Moz)CategoryTonnage (Mt)Avg. Grade (g/t)Contained Metal (Moz)
Measured 18 0.99 0.58 Proven 9.85 1.11 0.35
Indicated 211 0.82 5.60 Probable 134 0.86 3.72
M+I 229 0.84 6.18 P+P 144 0.88 4.07
Inferred 142 0.67 3.08        

 


Notes - Reserves

(1) Group Ore Reserves statements are prepared by WAI; Pokrovskiy, Pioneer, Malomir and Albyn reserves are prepared in April 2017 in accordance with JORC Code 2012; Tokur Reserves are prepared in 2010 in accordance with JORC Code 2004
(2) Pioneer, Malomir Albyn and Pokrovskiy Ore Reserves for open pit extraction are estimated within economical pit shells using a $1,200/oz gold price assumption and applying other modifying factors based on projected performance of these operating mines. Tokur reserves have been based on a $1,000/oz gold price assumption, together with the operating costs assumptions relevant at the time of the estimate.
(3) Open Pit Reserve cut-off grade for reporting varies from 0.3 to 0.5g/t Au, depending on the asset and processing method.
(4) Underground Ore Reserve estimates use mine design with decline access and trackless mining equipment; variants of open stoping with predominantly uncemented back fill are used; Ore Reserve figures have been adjusted for anticipated dilution and mine recovery.
(5) Underground Reserve cut-off grade for reporting is 1.5g/t Au for Pioneer and 1.7g/t Au for Malomir.
(6) Figures may not add up due to rounding.

Notes - Resources

(7) Mineral Resources include Ore Reserves.
(8) Mineral Resources for Pokrovskiy, Pioneer, Malomir and Albyn are audited by WAI in accordance with JORC Code 2012 in April 2015 with a further review of changes in April 2016 and April 2017; Mineral Resources for Tokur reviewed by WAI in 2010 in accordance with JORC Code 2004.
(9) Open Pit Mineral Resources for Pokrovskiy, Pioneer, Malomir and Albyn are constrained by conceptual open-pit shells at a US$1,500/oz long term gold price.; Tokur Mineral Resources have no open pit constraints.
(10) The cut-off grade for the Mineral Resource for open pit mining varies from 0.30 to 0.4g/t depending on the type of mineralisation and proposed processing method.
(11) Minimum mining widths dependant on reconciliation have been applied to the open pit Mineral Resource.
(12) Mineral Resources for potential underground extraction were audited by WAI in accordance with JORC Code 2012 in April 2017.
13) Cut-off grade is 1.5g/t is used to report Mineral Resource for potential underground mining.
(14) Mineral resources are not reserves until they have demonstrated economic viability based on a feasibility or pre-feasibility study.
15) Grade represents estimated contained metal in the ground and has not been adjusted for metallurgical recovery.

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