Name of the Project
Touquoy restart project.

Location
Nova Scotia, Canada.

Project Owner/s
St Barbara Limited (SBM), through its wholly owned subsidiary Atlantic Mining NS Inc.

Project Description
The project is designed as a near-term, low-capital reprocessing operation, which will produce gold bullion through the processing of existing medium- and low-grade stockpiles using the existing Touquoy processing plant. The restart study indicates a 13-month operating period producing 38 000 oz of gold. 

No new mining is planned; the mine plan involves stockpile material rehandling only, with ore transported to the plant and waste rehandled to the tailings management facility for use in reclamation. 

The restart plan includes in-pit tailings deposition within the completed Touquoy openpit.

Potential Job Creation
Operations are expected to support an estimated 197 direct, induced and indirect jobs during operation.

Net Present Value/Internal Rate of Return
The Touquoy restart study estimates a pretax net present value (NPV), at a 5% discount rate, of C$60.3-million and an internal rate of return (IRR) of 564% at $3 000/oz gold price assumption. 

At $4 000/oz, the pretax NPV increases to C$109.3-million and the IRR to 1 428%. Pretax payback on initial capital is estimated at ten months.

Capital Expenditure
The project has a low initial capital estimate of about C$11.4-million, leveraging the existing Touquoy process plant and new in-pit tailings deposition plan.

Planned Start/End Date
The project has a six-month construction period. Operations are expected to start within six to eight months of receiving permit approval.

Latest Developments
SBM has indicated that the project will proceed to permitting.

Key Contracts, Suppliers and Consultants
St Barbara and Moose Mountain Technical Services (mine design).

Contact Details for Project Information
SBM Investor relations: GM Business Development & Investor Relations David Cotterell, tel +61 3 8660 1959 or 
email info@stbarbara.com.au.
Sodali & Co media relations, Paul Ryan/Russell Quinn, tel +61 409 296 511/+61 403 322 097.