Undervalued with Path to Value Realization

• Feasibility Study delivers compelling economics with 16-year mine life
• After-tax NPV_5% of $995.5 Million and IRR of 20.6% ($1,600 Au and 0.71 Fx)
• After-tax cash flow of $2.1 billion ($1,800 Au and 0.71 Fx)
• Vista to evaluate broad range of development alternatives to maximize shareholder value

Partner Ready

• Major operating and environmental permits approved
• Tier-1 mining jurisdiction
• One of the largest permitted gold reserves in the world
• Large scale with high operating margins

Large scale and Low Cost

• 6.98 Million oz gold reserve
• 479k oz average annual gold production years 1-7
• $860/oz average AISC years 1-7
• Mt Todd positioned to be one of Australia’s top 5 gold producers on an annual basis