St Barbara : Further success with Gwalia deep drilling program

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Main Lode

0.6 m @ 20.9 g/t Au from 2,206 m

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South West Branch

7.0 m @ 6.0 g/t Au from 2,220 m

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West Lode

3.5 m @ 8.1 g/t Au from 2,312 m

Investor Relations

Mr Rowan Cole Company Secretary

+61 3 8660 1900

Media Relations

Ms Nerida Mossop Hinton & Associates

+61 3 9600 1979

St Barbara Limited

ACN 009 165 066

Level 10, 432 St Kilda Road, Melbourne VIC 3004

Locked Bag 9, Collins Street East, Melbourne VIC 8003

T +61 3 8660 1900 F +61 3 8660 1999

W www.stbarbara.com.au

Criteria

Commentary

Sampling techniques

 Half-core sampling of NQ2 diamond drilling with boundaries defined geologically. Samples are mostly one metre in length unless a significant geological feature warrants a change from this standard unit.

The upper or right-hand side of the core is submitted for sample analysis, with each one metre of half core providing between 2.5 - 3 kg of material as an assay sample.

Drilling techniques

 Diamond drilling using NQ2 (50.6mm) sized core (standard tubes). Holes have been down hole surveyed by north seeking gyro. Core is orientated using a Reflex ACT II RD orientation tool.

Drill sample recovery

 Core is metre marked and orientated and checked against drillers blocks to ensure that any core loss is accounted for.

 Sample recovery is rarely less than 100%. Where minor core loss does occur it is due to drilling conditions and not ground conditions.

Logging

 All SBM holes are logged primarily for lithology, alteration and vein type/intensity which are key to modelling gold grade distributions. Validation of geological data is controlled via the use of library codes and reliability and consistency of data is monitored through regular peer review.

 All logging is qualitative

Sub-sampling

techniques and sample preparation

 SBM half core is cut using a core saw before being sent to SGS laboratory in Kalgoorlie where the entire sample is crushed to achieve particle size

passing 75 m).

Quality of assay data

and laboratory tests

 SBM samples were analysed for gold using fire assay with a 50g charge and analysis by flame Atomic

Absorption Spectrometry (AAS). QC includes insertion of 3 commercial standards (1 per 20 samples), barren material used for blank control samples, use of barren flush material between designated high grade samples during the pulverising stage, re-numbered sample pulp residues re-submitted to original laboratory, and sample pulp residues submitted to accredited umpire laboratory, submission of residual (duplicate) half core from ore intervals. The analysis of gold was sound and re-analysis of pulps showed acceptable repeatability with no significant bias.

Verification of

sampling and assaying

 Sampling data is recorded electronically in spread sheets which ensure only valid non-overlapping data can be recorded. Assay and down hole survey data are subsequently merged electronically. All

drill data is stored in a SQL database on secure company server.

Location of data

points

 Collars for surface holes are recorded by DGPS.

Data spacing and distribution

 Surface drilling is spaced on an approximate 60m x 80m below 1620 metres below surface Drilling data is sufficient to establish down plunge continuity for all lodes.

Orientation of data in

relation to geological structure

 Sampling is perpendicular to lode orientations and is sound based on past production and underground mapping.

Sample security

 Company personnel or approved contractors only allowed on drill sites; drill samples are only removed from drill site by approved contractors to the company's secure core logging/processing

facility; cut core is consigned to accredited laboratories for sample preparation and analysis.

Audits or reviews

 Regular reviews of core logging and sampling are completed through SBM mentoring and auditing.

Additionally, regular laboratory inspections are conducted by SBM personnel. Inspections are documented electronically and stored on secure company server. No significant issues were identified.

Criteria

Commentary

Mineral tenement

and land tenure status

 SBM has 100% ownership of the two tenements M37/25 and M37/333 over the Gwalia deposit.

Exploration done by

other parties

 Western Mining Corporation (WMC) and Sons of Gwalia (SGW), have previously completed deep diamond drilling below 1,100 metres below surface

Geology

 Gold mineralisation occurs as a number of stepped, moderately east dipping, foliation parallel lodes within strongly potassic altered mafic rocks which extend over a strike length of approximately 500 metres and to a vertical depth of at least 2,000 metres below surface. The deposit exhibits significant down-plunge continuity but is interrupted at approximately 1,200 metres below surface (mbs) by a cross cutting post-mineralisation doleritic dyke, with a horizontal width of approximately 30 metres.

Drill hole

Information

 Drill hole information is included in intercept table outlining mid-point co-ordinates including vertical hole depth and composited mineralized intercepts lengths and depth.

Data aggregation

methods

 Broad down hole intercepts are reported as length weighted averages using a cut-off of 0.5 g/t Au and a minimum grade*length of 5 gram-metres. Such intercepts may include material below cut-off.

 Using the same criteria for included sub-grade, supplementary cut-offs, may be used to highlight higher grade zones within the broader aggregated interval. No high grade cut is applied.

Relationship between mineralisation widths and intercept lengths

• Down hole length is reported for all holes; true width is not immediately known until further drilling is

completed and the orebody modelled.

Diagrams

 Appropriate diagrams are included within the body of the report

Balanced reporting

 Details of all holes material to Exploration Results have been reported in the intercept table.

Other substantive exploration data

 These holes test the deepest limits of mineralisation and no other data is available

Further Work

 Further exploration drillholes are planned