THE GEOLOGY AND DISCOVERY OF THE GARDEN WELL GOLD DEPOSIT, WESTERN AUSTRALIA

Jens Balkau Australian Institute of Geoscientists 15 May 2013

Forward-Looking Statements

This presentation contains “forward-looking statements”. Such forward-looking statements may include, without limitation:

Estimates of future results of exploration activities;

Estimates of future cash flow;

Estimates of future capital expenditure and resources;

Estimates of mineral reserves, resources and statements regarding future exploration results.

Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, as well as political and operational risks in the countries and states in which we operate or sell product to, and governmental regulation and judicial outcomes.

The Company does not undertake any obligation to release publicly any revisions to any “forward-looking statement” to reflect events or circumstances after the date of this presentation, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

The Geology and Discovery of the Garden Well Gold Deposit

• Location & Tenements • Historical Production • Discovery History • Geology & Geochemistry • Resources & Development • Production • Conclusions

Location and Tenements Duketon

Gold Project

Located 350km NNE of Kalgoorlie

100% Regis owned

Western Australia

50 km

Moolart Well

Garden Well

Garden Well 100km N of Laverton

35km S of Moolart Well

387 granted leases

1,220 km² of ground

Duketon Gold Project Location Garden Well

GRANNY SMITH

Moolart Well 2001

Garden Well 2009

Duketon Gold Project: 10 deposits granted ML’s

7.6 Moz Au Resources 3.0 Moz Au Reserves

Tenements Duketon Gold Project

10 km

Cox’s Find

Moolart Well

Laverton

Duketon Greenstone Belt

Duketon Greenstone Belt, Mt Margaret Goldfield in

1906

Duketon, Erlistoun and Mulga Queen mining centres in 1890’s

Production short lived

Moolart Well never prospected or drilled till 2001

Garden Well never prospected or drilled till 2008

Duketon Historical Production

Garden Well

Historical Production to 1905

Mistake Gold Mine Erlistoun Golden Spinifex Battery Duketon

Mining Centre

Tons of Ore

Fine ozs Gold

Grade oz

Duketon 4,850 4,125 0.85

Erlistoun 4,927 5,357 1.09

Mulga Queen

8,020 6,379 0.80

Other 5,873 6,624 1.13

Total 23,670 22,485 0.95

Famous Blue Gold Mine Mulga Queen

Production figures to 1905

Historical Production in 1990’s

Reichelts Find

Christmas Well (Rosemont)

Operation Production Tonnes

Grade g/t Au

ozs Au

Year

Christmas well

222,000 2.65 16,600

1991-93

Russells Find

115,800 3.28 12,250

1992-93

Reichelts Find

300,000 4.44 43,000

1990-93

Total 637,800 3.55 71,850

1990-93

Russells Find

Total historical gold production from 1896 till July 2010 (114 years) approx 120,000oz

Moolart Well gold production August 2010 to March 2013 (32 months) 266,053oz

Garden Well gold production September 2012 to March 2013 (7 months) 117,157oz

Total Regis production since August 2010, 383,210oz

Rejuvenated DGB in 2.5 years

Total Historical Production Duketon Greenstone Belt

0

100

200

300

400

500

600

700

800

900

Deposit

Resource (koz)

DGB Gold Endowment: Pre 2001

0

500

1000

1500

2000

2500Deposit

Resource (koz)

DGB Gold Endowment: Post 2001

Potential for a 5-10Moz deposit?

Duketon Greenstone Belt Geology and Structure

Garden Well on eastern limb of Erlistoun Syncline

Confluence of N-S and NNW-SSE faults

Ultramafic and sediment host rocks

Moolart Well

Erlistoun syncline

Lulu Fault

Garden Well

Moolart Well

Garden Well

Erlistoun

Duketon Mulga Queen

25 km

Gold Occurrences Gold Resources

Detail study area

First derivative Aeromagnetics

Duketon Greenstone Belt Aeromagnetics

Multiple controlling structures

Regional N-S trending sinistral strike slip fault

NNW-SSE trending cross faults

Located 35km S of Moolart Well

Rosemont

No historical gold 1890’s workings

No drilling in 1990’s gold rush but close!

Sep 2001 Moolart Well discovery

2006 start exploration for Moolart type undercover deposits

November 2008: Ten Aircore holes drilled over Garden Well Test 8 to 75ppb gold lag soil anomaly

Discovery November 2009: 18 further Aircore holes. GDAC002, 47m @ 2.58g/t Au from 77m to 124m EOH

Garden Well Discovery History

Pleco

Garden Well

Moolart Well

2km 2km

σ'

σ'

σ'

σ'

Moolart Well 603koz Au

Garden Well 1,660koz Au

Garden Well Discovery Moolart, Garden Well Geochemistry

4370

00 m

E

6914000 mN

6913000 mN

6912000 mN

6911000 mN

4360

00 m

E

4380

00 m

E

Diorite Ultramafic Sediments

6913000mN

O 1km

Garden Well Discovery First

Drilling Nov 2008 8 - 75ppb Au soil anomaly on

edge of palaeochannel 10 Aircore drill holes on

6913000mN Nov 2008

Tertiary Palaeochannel

3 to 7ppb Au Lag Soil

8 to 24ppb Au >25 ppb Au

Discovery Aircore drill line

Tertiary Palaeochannel

3 to 7ppb Au Lag Soils 8 to 24ppb Au 25 to 74 ppb Au

0 1km 2km

Garden Well 1gm Au outline

>74 ppb Au

Pre 2008 Historical Drilling

Garden Well Discovery Nov 2009 Aircore Drilling

1km

Discovery Aircore drill line

Garden Well Discovery Nov 2009 Aircore Drilling

Shear Zone Mixed Ultramafic/Sediment Package

1km

Garden Well Discovery First Aircore Drilling

Aircore holes 160m apart across 8 to 75ppb gold lag soil anomaly Narrow zones in weathered ultramafic under palaeochannel clay

450 m RL

500 m RL

Alluvial clays and sands

400 m RL

160 metres 43

6700

mE

4369

00 m

E

4365

00 m

E

3-8ppb Au lag

Saprolite clays

Saprock

Ultramafic

Sediment Diorite

Gold g/t Metres 1.88 6

Gold Mineralised zone

Garden Well 691300mN

Untested Untested 450 m RL

Garden Well Discovery Nov 2009 Aircore Discovery Drilling

50 metres 43

6750

mE

450mRL

500mRL

4366

50m

E

350mRL Open

Sediment

Ultramafic

Sheared Ultramafic & Sediment

Saprolite and

Saprock

400mRL

Gold g/t Metres 1.88 6

Gold Mineralised zone

Garden Well 6913000mN

First holes 160m apart

Garden Well Discovery Drilling

First Aircore holes on Discovery Traverse 6913000mN View West from GDAC086 across Palaeochannel

GDAC085

GDAC084

Nov 2009 to Mar 2013 drilling 240 Aircore holes for 21,656m 387 RC holes for 76,726m 108 diamond holes for 40,919m Total 139,300m in 28 months

Resource 2.14 Moz Au and Reserve 1.66 Moz Au March 2011

Discovery Cost <$5 per resource ounce Deposit is open to the south. Drilling in progress

Garden Well Discovery Post Discovery Drilling

Discovery drill line

Garden Well 1gm Au outline

3 to 7ppb Au Lag Soils 8 to 24ppb Au 25 to 74 ppb Au >74 ppb Au

Pre 2008 Historical Drilling

6914000mN

6912000mN Diorite

Magnetic Ultramafic

Non-Magnetic Ultramafic

BIF

Sediment

0.5 to 1.0 g/t Au 0.25 to 0.5 g/t Au 0.01 to 0.25 g/t Au <0.01 g/t Au

>1 g/t Gold All Drilling

6914000mN

6912000mN

Garden Well Geology and Geochemistry

Garden Well Gold gram-metre drill intercepts: December 2011

Higher Grade Shoots Open

at Depth

Open to

South

BIF

Ultramafic Shale

Three high grade shoots >80gm

High grade shoots plunge SE

Deposit open at south end

Gram Metre Au Plan Projection

Shear Zone Mixed ultramafic/Sediment under Palaeochannel

Discovery Line

Section 6912680mN

Garden Well Gold gram-metre drill intercepts: December 2011

Garden Well Geology; Cross section 6912680mN

Calcrete

Lacustrine clays and gravel base

Talc-dolomite-chlorite No sulphides

Shear zone 1 to 2% disseminated sulphides

Carbonaceous black shale Minor 1-2% sulphides

Oxidised Zone Kaolinite clays 100m

Calcrete 0 to 7m 7m

Lacustrine Clays 7 to 35m

35m

Saprolite Clays 35 to 80m

Saprock 80 to 130m

Fresh rock 130 to 133m

80m

130m Fresh Rock Zone

Transition Zone

Oxide Zone

Tertiary Palaeochannel Cover

Garden Well GDAC001 Oxide, Transition and Fresh Rock Zones

Authigenic Pisoliths

Garden Well Geology; First Aircore holes in 2008

LKAC085: 8m @ 1.61 g/t Au from 72 to 80m and 10m @ 2.22 g/t Au 96 to 106m EOH

Sheared altered ultramafic

Black Carbonaceous shale

Quartz-dolomite fuchsite-chlorite-pyrite alteration

Garden Well Geology Gold Grades GDAC005

GDAC005: 69m @ 4.26g/t Au from 42 to 111m EOH including; •18m @ 11.32g/t from 42m • 5m @ 3.85g/t from 63m • 10m @ 1.65g/t from 79m • 17m @ 2.95g/t from 94m

Oxide Zone

Transition Zone

18m @ 11.32g/t from 42m 42m

0 to 10m Calcrete

10 to 36m Lacustrine clays

17m @ 2.95g/t from 94m 94m

EOH 111m

79m 10m @ 1.65g/t from 79m

36m

63m 5m @ 3.85g/t from 63m

Transition Zone

Oxide Zone

Tertiary Palaeochannel Cover

Down Hole

Garden Well Geology Transition Zone: GDAC018 74 to 80m

74 to 75m 0.002g/t Au

75 to 76m 0.001g/t Au

76 to 77m 0.003g/t Au

77 to 78m 36.2g/t Au

78 to 79m 4.03g/t Au

79 to 80m 5.04g/t Au

Black carbonaceous shale Sheared peridotite cb-si-fu-py

78 to 79m 4.03g/t Au

Garden Well Geology Visible Gold from RC Drilling Gold is coarse and easily panned from all zones Metallurgical recovery in all zones >92%

500 microns 500 microns 500 microns

Oxide Panned Gold Upper Saprolite

Transition Panned Gold Lower Saprolite

Hypogene Panned Gold Fresh Rock

Garden Well Geology Visible Gold from RC Drilling Most gold associated with late stage quartz-carbonate veining

500 microns 500 microns

Pyrite

Quartz

Gold

Gold

Quartz

500 microns

Dolomite-chlorite-fuchsite-pyrite

Quartz-dolomite vein

Gold

Garden Well Geology Visible Gold from Diamond Core

Garden Well Geology Visible Gold from Diamond Core

2mm

Quartz-dolomite vein

Chlorite-fuchsite-dolomite-pyrite

Garden Well Geology Oriented Core GDDD027 288.8m

500 microns

Visible Gold

Diamond Hole DD027 Dip 50° West. View North

50°

Quartz-Dolomite

Gold

Chlorite-fuchsite-dolomite-pyrite

Pyrite

Gold

60° to 075° Shear Fabric

Garden Well Geology Oriented Core Ultramafic Ore Zone Hanging Wall Black Shale

View North Shear Fabric 60° to 075°

Mixed Shale Ultramafic Ore Zone

Foot Wall talc-carbonate Ultramafic

Ultramafic Ore Zone

Quartz dolomite clinochlore fuchsite pyrite alteration

West East

Strongly sheared ultramafic with Quartz-dolomite-chlorite-fuchsite-pyrite alteration (1.5 – 2.0g/t Au)

Garden Well Geology GDDD001 at 148m Alteration

GW Gold gram-metre drill intercepts: Results of Recent Drilling

BIF

Ultramafic Shale

Southern Limit of Current Reserves

6912120mN

Section 6911680mN

Open

Southern Limit of Current Reserves

1.84

km

6913280mN

6912120mN

Southern Limit of Drilling 6911440mN

6913280mN

1.16

km

Nov 2011 Nov 2012

680m

Chert/shale host

Garden Well Cross Section 6911680mN October 2012

GW Long Section Nov 2012

Test High Grade Shoots U/G Potential?

Test South End

Garden Well Geology Chert Shale BIF Ore Zone

Foot Wall talc-carbonate Peridotite Ultramafic

West East

Hanging Wall BIF/Chert/Shale

BIF/Chert pyrite altered Ore Zone

Chert/BIF/Shale si-cb-py Ore Zone

Quartz carbonate pyrite alteration Si-cb-py

South of line 6911900mN gold mineralisation hosted by chert BIF and shale

Garden Well Geology Chert Shale BIF Ore Zone

Strongly brecciated chert/shale with Quartz-carbonate-pyrite alteration

Garden Well Palaeochannel Geochemistry (Richard Carver)

100m

Au Ore

3-8ppb Au lag

Garden Well Palaeochannel Geochemistry

Zone

6913080mN

Zone

6912520mN

Cover Cover Gold ppb

Au Ore

No anomalous Au in surface soil and lag sampling

8 – 75ppb Au on eastern palaeochannel margin

Remobilised Au or truncated regional Au anomaly?

Remobilised Au in Eocene palaeochannel clays up to 1g/t Au (Authigenic pisoliths)

500m

Garden Well Palaeochannel Geochemistry

6912040mN

6912360mN

6912040mN

Cover Cover Gold ppb

Au Ore

500m

8ppb Au lag

Water Table

Up to 120ppb in Acacia Aneura leaves

8 to 75 ppb Au anomaly

Top of Fresh Rock

13 to 24ppb Au

Lateral remobilisation of Au in cover sequence over 100’s metres. Far greater than vertical remobilisation

Garden Well 3D View to NW

Leapfrog 0.3g/t Au shell

Proposed 1.66 Moz Au Reserve Open Pit

Garden Well Gold Reserves

Garden Well Gold Reserves Production

Discovery hole November 2009 Construction commenced June 2011 Production commenced late August 2012 Total production to end March 2013 - 117,157 oz Au

Garden Well Gold Production August 2012 to March 2013

Garden Well Camp August 2011

Garden Well Gold Mill September 2012

Garden Well Gold Mill September 2012

Garden Well Open Pit October 2012: View South

Palaeochannel

First Gold Pour 4 September

2012

What do we Know about Moolart Well and Garden Well?

Both under palaeochannels Both on regional N-S shear zones Both on regional deflection in shear zone Both proximal to an ultramafic contact Neither deposit directly responds to soil or lag

soil geochemistry Both have weak Au soil anomalies on margins of

palaeochannels Model for Au in palaeochannel

– Truncated anomalies or leakage anomalies?

Conclusions

Is the Duketon Belt Mature?

DGB has a history of 110+ years of gold exploration starting in 1896 All gold deposits that crop out have been

found. Belt is mature for exposed deposits Most past exploration focused on exposed

deposits Two largest deposits in the DGB found in the

last 10 years under cover GW discovery to production < 3 years

Both deposits are Blind Virgin discoveries Resources both Deposits 4.36Moz Au Reserves both Deposits 2.26Moz Au+ Each Deposit basis of a New Gold Mill Significant potential for new under cover

gold discoveries in DGB and other belts Application of geochemistry in

exploration?

Is the Duketon Belt Mature?

Thank You: Questions