ASX ANNOUNCEMENT 15 August 2016 Coal Resources and Coal Reserves: Significant upgrade at Maules Creek

Whitehaven Coal Limited has updated its managed Coal Resources and Coal Reserves under the JORC Code 2012 as set out in the following tables. Total Coal Resources have decreased by 8Mt from 4037Mt in August 2015 to 4029Mt in August 2016.

Coal Reserves increased by 94Mt to 982Mt and Marketable Reserves for the Whitehaven Group increased by 82Mt to 883Mt from the August 2015 Coal Resources and Reserves Statement.

Key changes from the previous (August 2015) Coal Resources and Coal Reserves Statement are as follows:-

  • Open cut Coal Reserves at Maules Creek increased significantly to 510Mt up by 129Mt (34%) following an infill drilling programme and revised mine plan that incorporates an extensive area in the north of the project area. Marketable Reserves at the mine increased by 111Mt to 460Mt. The additional Reserves have the potential to add a number of years to the mine life of the project;

  • The small reduction in Coal Reserves at Narrabri was due to mining depletion (8Mt) and a change in the mine plan geometry and geological model (6Mt).

  • The small reduction in Coal Reserves at Tarrawonga, Rocglen and Werris Creek was due to mining depletion since the last statement in August 2015.

In respect of the material change to the Maules Creek Coal Reserves, Table 1 - Checklist of Assessment and Reporting Criteria (The JORC Code, 2012 Edition) is appended to the release.

Coal Resources and Reserves for active mining areas are as at the 31st of March 2016. Production for the quarter ended 30 June 2016 is detailed in the June 2016 Quarterly Report. Please see the Whitehaven Coal website (www.whitehavencoal.com.au) for all the Coal Resource and Coal Reserve Table 1 details.

Information in this report that relates to Coal Resources and Coal Reserves is based on and accurately reflects reports prepared by the Competent Person named beside the respective information. Greg Jones is a principal consultant with JB Mining Services. Phillip Sides is a senior consultant with JB Mining Services. Ben Thompson is a Geologist with Whitehaven Coal. John Rogis is a Geologist with Whitehaven Coal. Rick Walker is a Geologist with Whitehaven Coal. Graeme Rigg is a full time employee of RungePincockMinarco Ltd. Doug Sillar is a full time employee of RungePincockMinarco Ltd. Shaun Tamplin is a full time employee of Tamplin Resources Pty Ltd. James Smith is a Senior Mining Engineer with Whitehaven Coal. Michael Barker is a full time employee of Palaris Ltd.

Named Competent Persons consent to the inclusion of material in the form and context in which it appears. All Competent Persons named are Members of the Australian Institute of Mining and Metallurgy and/or The Australian Institute of Geoscientists and have the relevant experience in relation to the mineralisation being reported on by them to qualify as Competent Persons as defined in the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code, 2012 Edition).

WHITEHAVENCOAL.COM.AU For further information

please contact

Ian McAleese GM Investor Relations Michael Van Maanen - Media

P 02 8507 9714

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WHITEHAVEN COAL LIMITED - COAL RESOURCES - AUGUST 2016

Tenement

Measured

Indicated

Inferred

Total

Competent

Report

Resource

Resource

Resource

Resources

Person

Date

Vickery Opencut

CL316/EL4699

EL5831/EL7407 EL8224/ML1464 ML1471

230

165

110

505

1

Jun-15

Vickery Underground

-

95

135

230

1

Jun-15

Rocglen Opencut

ML1620

6

4

-

10

2

Mar-16

Rocglen Underground

ML1620

-

3

1

4

2

Mar-15

Tarrawonga Opencut*

EL5967/ML1579 ML1685/ML1693

45

18

13

76

2

Mar-16

Tarrawonga Underground

EL5967/ML1579 ML1685/ML1693

10

15

14

39

2

Apr-14

Maules Creek Opencut**

CL375/AUTH346/ EL8072

230

360

70

660

6

Mar-16

Werris Creek Opencut

ML1563/ML1672

15

3

-

18

2

Mar-16

Narrabri Underground***

ML1609/EL6243

190

300

230

720

5

Mar-16

Gunnedah Opencut

ML1624/EL5183/ CCL701

7

47

89

143

2

Aug-14

Gunnedah Underground

ML1624/EL5183/ CCL701

2

138

24

164

2

Aug-14

Bonshaw Opencut

EL6450/EL6587

-

4

7

11

2

Aug-14

Ferndale Opencut

EL7430

103

135

134

372

3

Jan-13

Ferndale Underground

EL7430

-

-

73

73

3

Jan-13

Oaklands North Opencut

EL6861

110

260

580

950

2

Aug-14

Pearl Creek Opencut****

EPC862

-

14

38

52

4

Jan-13

TOTAL COAL RESOURCES

948

1563

1518

4029

1. John Rogis, 2. Ben Thompson, 3. Greg Jones, 4. Phil Sides, 5. Rick Walker, 6. Shaun Tamplin

* Whitehaven owns 70% share of opencut resources within ML1579, ML1685 and ML1693. The total combined resource for Tarrawonga Mining Leases (ML1579, 1685 and 1693) and Exploration Licence (EL5967) is reported.

** Maules Creek Joint Venture - Whitehaven owns 75% share.

*** Narrabri Joint Venture - Whitehaven owns 70% share.

**** Dingo Joint Venture - Whitehaven owns 70% share.

# The Coal Resources for active mining areas are current to the pit surface as at the report date.

WHITEHAVEN COAL LIMITED - COAL RESERVES - AUGUST 2016

Tenement

Recoverable Reserves

Marketable Reserves

Competent Person

Report

Date

Proved

Probable

Total

Proved

Probable

Total

Vickery Opencut CL316/EL4699/EL7407

-

200

200

-

178

178

1

Mar-15

Rocglen Opencut ML1620

2.8

0.6

3.4

2.1

0.5

2.6

1

Mar-16

Tarrawonga Opencut * EL5967 / ML1579 ML1685 / ML1693

29

10

39

27

9

35

1

Mar-16

Maules Creek Opencut** CL375/AUTH346

210

300

510

190

270

460

3

Mar-16

Werris Creek Opencut ML1563/ML1672

12

2

14

12

2

14

1

Mar-16

Narrabri North Underground*** ML1609

80

42

122

78

40

118

4

Mar-16

Narrabri South Underground*** EL6243

-

94

94

-

75

75

2

Mar-15

TOTAL COAL RESERVES

334

649

982

309

575

883

1. Doug Sillar, 2. Graeme Rigg, 3. James Smith, 4. Michael Barker

* Whitehaven owns 70% share of opencut reserves within ML1579, ML1685 and ML1693. The total combined reserve for Tarrawonga Mining Leases (ML1579, 1685 and 1693) and Exploration Licence (EL5967) is reported.

** Maules Creek Joint Venture - Whitehaven owns 75% share.

*** Narrabri Joint Venture - Whitehaven owns 70% share.

# The Coal Reserves for active mining areas are current as at report date.

## Coal Reserves are quoted as a subset of Coal Resources.

### Marketable Reserves are based on geological modeling of the anticipated yield from Recoverable Reserves

TABLE 1 - CHECKLIST OF ASSESSMENT AND REPORTING CRITERIA (THE JORC CODE, 2012 EDITION)

The following table provides a summary of important assessment and reporting criteria used for the Maules Creek Mine in accordance with the Table 1 Checklist of Assessment and Reporting Criteria, in The Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code) 2012 Edition. Criteria in preceding sections apply, where applicable, to the succeeding sections.

Section 1 - Sampling Techniques and Data

Criteria

Explanation

Sampling Techniques

A very substantial borehole data base exists for the Maules Creek area with data acquired both by Whitehaven and by a number of prior title holders over an extended period dating from the 1970‟s. In this context, the data has been acquired in a variety of formats over extended time periods with widely varying content, particularly in regards to lithological coding and analytical data. This dataset has been recoded and unified into CoalLog format by an extensive conversion and data entry program.

All points of observation are based on cored holes with geophysical logs. Base of weathering surface defined by a combination of visual estimates and proximate analysis on core samples when available.

All samples for coal quality are based on cored holes only. Samples collected between 1975 to present with analysis based on the accepted Australian standard at the time of collection. Sample intervals within a seam were determined after examination of the geological and geophysical logs, and the sampling scheme adopted for surrounding drillholes. All coal and in-seam stone bands were sampled. The standard downhole geophysical logging suite is Calliper, Natural Gamma and Density. These logs are not used to estimate coal quality parameters for resource calculations, and are only used for the identification of coal seam roof/floor levels, the identification of stone bands within the seams or to confirm the presence of igneous intrusions in non-cored holes. All full seam intersections are considered potential working sections. Resources were determined on full seam sections.

Most samples crushed to top size limit (11.2mm). Subsequent analysis consisted of raw coal proximate, SE, TS, CSN, RD; washability completed at various steaming and coking fractions on likely working sections; coking plastometric testing was conducted but considered to be unreliable due to elapsed time between drilling and sampling to lab testing. Pretreatment and detailed sizing has also occurred on a limited number of samples most of which were from large diameter boreholes.

Drilling techniques

Cored holes are 8C core (200 mm diameter), GC (150 mm diameter), 4C core (100 mm diameter), HQ Triple Tube core (61 mm diameter), and NQ Triple Tube core (45 mm diameter). Open holes are generally open hole hammer or PCD air blast in the 90 mm to 120 mm range. Some limited mud drilling has also occurred.

All holes have been drilled vertically.

Drill sample recovery

Drill sample recovery only relevant for cored holes. Open hole samples limited to determination of base of weathering or identifying heat affected coal only. That is, chip results are only indirectly used in the model for determination of base of weathering surfaces and intruded aureoles.

Recent drill core is logged in accordance with Whitehaven Coal procedure using the CoalLog coding system and LogCheck software. Coal intervals are logged in detail by describing its coal brightness profile. Volumetric recoveries determined by the analysing laboratory are primarily used to assess core recoveries. Volumetric recoveries are recalculated following adjustments using downhole geophysical logs made to sample length for broken core intervals. Coal quality data was incorporated into the coal quality model if it meets the following criteria:

  • Linear core recovery of greater than 90%;

  • Linear core recovery of between 80% and 90% where volumetric recovery is above 65% and the raw ash contents are consistent with values from surrounding drillholes;

  • A geophysical (wireline) log, to allow confirmation of linear seam recovery and lithological logging.

Observations suggest that core loss is concentrated on the more fragile bright coal bands. Consequently, samples with losses tend to have higher ash results than those with high recovery. No statistics have been performed to test this observation.

Whitehaven Coal Limited published this content on 15 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 15 August 2016 00:25:08 UTC.

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