The Havieron Project is located within the north-western exposure of the Palaeo-Proterozoic to Neoproterozoic Paterson Orogen (formerly Paterson Province), 45 km east of Telfer. The Yeneena Supergroup hosts the Havieron prospect and consists of a 9km thick sequence of marine sedimentary rocks and is entirely overlain by approximately 420m of Phanerozoic sediments of the Paterson Formation and Quaternary aeolian sediments.

Gold and copper mineralisation at Havieron consist of breccia, vein and massive sulphide replacement gold and copper mineralisation typical of intrusion-related and skarn styles of mineralisation. Mineralisation is hosted by metasedimentary rocks (meta-sandstones, meta-siltstones and meta carbonate) and intrusive rocks of an undetermined age. The main mineral assemblage contains well developed pyrrhotite-chalcopyrite and pyrite sulphide mineral assemblages as breccia and vein infill, and massive sulphide lenses. The main mineralisation event is associated with amphibole carbonatebiotite-sericite-chlorite wall rock alteration. Drilling has partially defined the extents of mineralisation which are observed over 650m by 350m within an arcuate shaped mineralised zone, and to depths of up to 1400m below surface.

Variable brecciation, alteration and sulphide mineralisation are observed with a footprint with dimensions of 650m x 350m trending in a north west orientation and 1000m in vertical extent below ~420m of cover. The SE Crescent Zone M ........

The Havieron Pre-Feasibility Study defined a SLOS mining method with paste fill and truck ore haulage at a 2Mtpa mining rate.

The Study demonstrates the potential to expand the Project and increase the mining rate to 3Mtpa or more based on the conversion of the current Inferred Mineral Resources and additional potential Mineral Resource growth from immediately below the Crescent Zone.

SLOS is a large-scale open stoping method that is conducted over multiple levels at once. Once the stope has been mined out it is backfilled with paste to maintain the overall stability of the opening and enable mining of adjacent stopes. This method is typically applied to strong orebodies that require minimal support and are surrounded by strong country rock, such as the Havieron deposit. Stopes are mined in a checkerboard fashion with all primary stopes first, followed by the intermediate secondary stopes. The mining sequence is top down overall, divided into a number of different lifts separated by horizontal sill levels which are recovered after the upper and lower level have been mined and filled.

A sub-level spacing of 50m with sill drill levels located 20m below each mining front was selected. Some sub-level spacings are increased to 60m to accommodate the inclusion of ore and minimising additional level development. The design consists of nine semi-independent mining sequences, based on both horizontal and vertical mining fronts. The horizontal fronts ar ........

Telfer currently operates two processing trains with a total capacity of ~22Mtpa. The Havieron ore is expected to be processed through a modified Telfer Processing Plant which will operate a single train at 6Mtpa rate on a campaign basis. The Plant modifications are expected to include magnetic separation within the flotation circuit to reduce the amount of pyrrhotite in the final Cu Concentrate and a Carbon in Pulp (CIP) circuit on the flotation tail and cyanide detoxification circuit. A single train operation also provides optionality if higher mining rates are achieved from Havieron or through the extension of Telfer’s current mine life (i.e. Telfer ore can be run through the other train with the existing flowsheet). Tailings from ore processed will be deposited at the existing Telfer TSF.

Havieron underground ore will be processed on a campaign basis through the Telfer Train 2 Treatment Plant circuit at a throughput of approximately 2Mtpa. Metal recovery will be through ........