ST BARBARA LIMITED RESOURCE REPORT Transvaal Gold Deposit, Southern Cross. Robert Williams Runge Limited / Scott Dunham

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1 TENEMENT: M77/225 ST BARBARA LIMITED RESOURCE REPORT Transvaal Gold Deposit, Southern Cross OWNER: St Barbara Ltd 100% OPERATOR: COMMODITIES: MODELED BY: REPORT BY: ST BARBARA LTD ACN Level 21, 90 Collins Street MELBOURNE VIC 3000 Gold Robert Williams Runge Limited / Scott Dunham Ben Bartlett, Rob Williams, Shannan Bamforth DATE: June 2009 DISCIPLINE POSITION SIGNATURE NAME Exploration Input Data & Ian O Grady Manager Geological Interpretation. Exploration Geologist Estimation Resource Estimator Robert Williams Runge Engineering Input Mining Engineer Kous Kirsten Reviewers Resource Manager Ben Bartlett JORC CODE COMPLIANCE STATEMENT The information in this report that relates to Mineral Resources is based on information compiled by Robert Williams, who is a member of the Australasian Institute of Mining and Metallurgy. Robert Williams is a fulltime employee of Runge Limited contacted to St Barbara for the purpose of modelling and estimating the Nevoria gold deposit. Robert has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Mineral Resources and Ore Reserves. DISTRIBUTION: ST BARBARA LTD - MELBOURNE (1) ST BARBARA LTD - PERTH (1) ST BARBARA LTD SOUTHERN CROSS (1) REPORT NO:

2 1. Executive Summary The 2010 June resource statement for the Transvaal project has not changed over the course of the year and the Mineral Resource is based on the November 2008 model. Additional drilling and mining, has lead to a revised geological interpretation in the Mercury project area, and on this basis sub models were created for mining (prepared by Thomas Callenaere- SBM, and Scott Dunham QG). These models were not used in the creation of the $1200 optimal shell, and as such they are not reported against in this report. The summary of the resources can be seen below; Table 1; Total Transvaal Mineral Resources Category Tonnes Grade Ounces Transvaal Global 3,436, ,000 Total 3,436, ,000 Notes: Transvaal Global Mineral Resource - West Lodes: Oxide cut-off 1.08g/t; Trans/Fresh cut-off 1.73g/t cut-off and East Lodes: Oxide cut-off 0.96g/t; Trans/Fresh cut-off 1.23g/t cut-off inside $1,200 optimised Open Pit Shell, 2.6 g/t Cut-off Grade outside $1,200 optimised Open Pit Shell. Table 2: Resource Model Overview. Area Model Name Model Date Model Location Transvaal Global transvaal_ mdl 28 th November 2008 X:\Projects\Southern Cross (0404)\Transvaal (0338)\Resource Model\Transvaal Global\2008_11\Transvaal_ \BModel Mercury June Grade merc.fine dm 22 nd June 2009 X:\Projects\Southern Cross Control Model merc_nth.fbm (0404)\Transvaal (0338)\Resource 1

3 Model\Mercury\Grade Control Model June 2009\ merc_nth.fbm Mercury May Grade merc_ fbm 7 th May 2009 X:\Projects\Southern Cross Control Model (0404)\Transvaal (0338)\Resource Model\Mercury\Grade Control Folder May 2009\ merc_ fbm 2

4 1.1. Transvaal Global Model Table 3: Transvaal OK Resource by Pod, Unconstrained Global Resource (1.0 g/t Cut-off Grade). Under 2009 mined pits. Total Project Area Tonnes Grade Ounces Jupiter 341, ,874 Jupiter HW 8, Mercury 788, ,263 Sunbeam FW 820, ,461 Sunbeam / Polaris 3,729, ,553 Polaris FW minor Polaris FW 16, ,561 Aquarius FW 129, ,448 Aquarius / Transvaal HW 781, ,584 Transvaal 432, ,875 Transvaal HW 70, ,849 Polaris HW 15, ,060 Polaris HW2 34, ,513 Transvaal FW 11, ,081 Polaris HW3 69, ,899 Total 7,250, ,698 3

5 Table 4: Transvaal OK Resource by classification, unconstrained Global Resource (1.0 g/t Cut-off Grade), Project Area Category Tonnes Grade Ounces Transvaal Indicated 2,978, ,000 Transvaal Inferred 4,273, ,000 Total 7,251, ,000 Table 5: Transvaal Mineral Resource - Project Area Category Tonnes Grade Ounces Transvaal Indicated 1,634, ,000 Transvaal Inferred 1,802, ,000 Total 3,436, ,000 Transvaal Global Mineral Resource - West Lodes: Oxide cut-off 1.08g/t; Trans/Fresh cut-off 1.73g/t cut-off and East Lodes: Oxide cut-off 0.96g/t; Trans/Fresh cut-off 1.23g/t cut-off inside $1,200 optimised Open Pit Shell, 2.6 g/t Cutoff Grade outside $1,200 optimised Open Pit Shell. Table 6: Mineral Resource Mining Break Down Project Area Mining Area Cut-off Grade Category Tonnes Grade Ounces Transvaal OP Indicated 74, ,000 Transvaal OP Inferred 9, ,000 Sub Total 83, ,000 Transvaal UG 2.6 Indicated 1,559, ,000 Transvaal UG 2.6 Inferred 1,793, ,000 Sub Total 3,353, ,000 Total 3,436, ,000 Transvaal Global Mineral Resource - West Lodes: Oxide cut-off 1.08g/t; Trans/Fresh cut-off 1.73g/t cut-off and East Lodes: Oxide cut-off 0.96g/t; Trans/Fresh cut-off 1.23g/t cut-off inside $1,200 optimised Open Pit Shell, 2.6 g/t Cutoff Grade outside $1,200 optimised Open Pit Shell. 4

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7 2. Changes Mineral Resources 2.1. Transvaal Global Resource Model The Transvaal global resource has been quoted with reference to the July 2009 $1200 optimised shell and updated cut off grades to reflect the current cost profile of the operations at Southern Cross. All resources are reported under the final mining surfaces. 6

8 2.2. The difference in the reportable mineral resource for the Transvaal project area is as follows; (Note the resource in all areas except Mercury has not changed). Table 7: Comparison Table 2008 Global Mineral Resource Estimate (R Williams, Nov 2008, Optimised Pit $1,500 & nominal UG COG of 2.0 g/t) 2009 Global Mineral Resource Estimate (R Williams, Nov 2008, Optimised Pit $1,200 & nominal UG COG of 2.6 g/t) Mining Area Category Tonnes Grade Ounces Tonnes Grade Ounces OP Indicated 849, ,000 74, ,000 OP Inferred 75, ,000 9, ,000 Sub Total 924, ,000 83, ,000 UG Indicated 1,550, ,000 1,559, ,000 UG Inferred 2418, ,000 1,793, ,000 Sub Total 3,968, ,000 3,353, ,000 Total 4,892, ,000 3,436, ,000 Transvaal Global Mineral Resource West Lodes: Oxide cut-off 1.08g/t; Trans/Fresh cut-off 1.73g/t cut-off and East Lodes: Oxide cut-off 0.96g/t; Trans/Fresh cut-off 1.23g/t cut-off inside $1,200 optimised Open Pit Shell, 2.6 g/t Cut-off Grade outside $1,200 optimised Open Pit Shell. Transvaal Global Mineral Resource West Lodes: Oxide cut-off 0.9g/t; Trans/Fresh cut-off 1.0g/t cut-off and East Lodes: Oxide cut-off 0.5g/t; Trans/Fresh cut-off 0.7g/t cut-off inside $1,500 optimised Open Pit Shell, 2.0 g/t Cut-off Grade outside $1,200 optimised Open Pit Shell. Table 8: Variance Variance Comments Mining Area Category Tonnes Grade Ounces OP Total -841, ,000 Mining Depletion, Optimisation 7

9 UG Total -615, ,000 Optimisation Sub Total -1,456, ,000 The key criteria for the changes in the reported resource are as follows; Mining Depletion in Mercury Pit New Resource Optimisation shell at a $AU1,200 gold price and new cost model. This leads to a smaller shell and subsequently a smaller reportable resource internal to the pit. The inverse of this is the smaller shell leaves more material to be reported as an underground resource. Cut off grades have also been altered to reflect the current cost model. These increases have lead to decreased reportable tonnage, increased grade and net decrease in ounces. 8

10 3.0 Resource Model Parameters The following table details the files and parameters used in the generation of the resource model. Table9: Transvaal Global Parameter Table Files used in the Resource Model Geological Wireframes transvaal_ dtm (Object / Zone Number) (objects 1,2, 4 15) Check Box Oxidation Surfaces / Wireframes botr1.dtm bottom transported bous1.dtm bottom upper saprolite boco1.dtm bottom complete oxide tofr1.dtm top of fresh rock Lithology Wireframes (Geological Domain) Topography Surface Drill hole file Drill hole file (Holes to be deleted prior to modeling) Final Model File Generated Ultramafics = umafic1.dtm topo_ dtm transvaal_ ddb All omitted holes have had res_incl_flag set to no transvaal_ mdl Modeling limits Xmin (east) 9600 Xmax (east) Ymin (north) 8400 Ymax (north) Zmin (rl) -300 Zmax (rl) 400 XMORIG (origin) 9600 YMORIG 8400 ZMORIG -300 (block Size) X inc 5 (1.25) Y inc 20 (5) 9

11 Z inc 10 (2.5) (Number of Blocks) NX 120 NY 110 NZ 70 List Files Mineralisation zones See 02_assign_pod macro Mineralisation WF s (individual wireframe List.min domains) Oxidation WF s See 03_assign_type macro Lithology WF s See 05_assign_lithology macro 10

12 Excel Modeling Files Top cut File Refer Appendix 1 Search Parameter File Refer Appendix 1 Variogram Parameter File Refer Appendix 1 Surpac Macro Files 01_create_model.tcl 02_assign_pod.tcl 03_assign_type_domain.tcl 04_krige_au.tcl 05_assign_lithology.tcl 06_assign_sg.tcl 07_assign_void_sg.tcl 08_assign_resource_classification.tcl 09_assign_void_air_backfill.tcl 10_assign_mined.tcl 11_reset_attributes.tcl 12_ reset_void_sg.tcl 13_assign_backfill_and_dump_sg.tcl au_cut au_uncut ave_dis Class class_code Domain Kvar Lithology lith_code min_dis Mined Block Model Attributes Cut gold value Uncut gold value Average distance of samples used in OK estimate JORC classification; measured, indicated, inferred Numerical equivalent of class. 1 = measured, 2 = indicated, 3 = inferred Can be oxide, trans, of fresh Kriging variance Lithology can be ultramafic or sediment Numerical equivalent of lithology; 1=ultramafic, 2=sediment Minimum distance Mined can be yes or no 11

13 num_sam pass_ok Pod Bd void_bd Type type_code Service Number of samples used in OK estimate Pass number Resource wireframe object number Bulk Density Bulk Density to be used in void areas. Material type; can be air, colluvium, upper sap, lower sap, saprock, fresh, void, waste_dump, backfill Numerical equivalent of type, where 0=air, 1=colluvium, 2=upper sap, 3=lower sap, 4=saprock, 5=fresh, 6=void, 7=waste_dump, 8=backfill Service attribute used to set void_bd Appendix 1 Modelling Files Top Cuts Top cuts used in the Transvaal Global estimate were as follows; Topcuts Object Upper Sap Lower Sap Saprock Fresh All Object 1 uncut 25 uncut uncut 2 uncut 3 uncut uncut 30 uncut 4 uncut uncut uncut uncut 8 uncut uncut 30 9 uncut uncut uncut uncut

14 15 uncut Source Data (and unrounded data): X:\ResourcesReserves\2009\June09\Resources_1200\Transvaal\1200_Final Summary Mercury Resources.xlsx All working tables for the collation of Mercury data. G:\Release\Surface\Mercury\2009_06(QG- SBM)\Datamine\documentation\Mercury_June2009_Resource Summary.docx 13

15 Appendix 2 Unrounded figures. Total Transvaal Resources inside $1200/oz Pit Shell. Indicated Inferred Total Project Area Tonnes Au Cut Cut Oz Tonnes Au Cut Cut Oz Tonnes Au Cut Cut Oz Jupiter 2, , Jupiter HW Mercury 13, ,048 4, ,326 18, ,374 Sunbeam FW 10, , , ,105 Sunbeam - Polaris 14, , , ,627 Polaris FW Polaris FW Aquarius FW Aquarius 10, , , ,545 Transvaal UG Aquarius FW 18, , , ,942 Polaris HW 2, , Polaris HW , , Transvaal FW Polaris HW Total 73, ,698 9, ,895 83, ,594 Total Transvaal Resources outside $1200/oz Pit Shell. (cut-off grade = 2.6g/t) Indicated Inferred Total Project Area Tonnes Au Cut Cut Oz Tonnes Au Cut Cut Oz Tonnes Au Cut Cut Oz Jupiter 37, ,064 3, , ,408 Jupiter HW Mercury 399, , , , , ,729 Sunbeam FW 153, , , , , ,253 Sunbeam - Polaris 507, , , , , ,805 Polaris FW Polaris FW 8, ,560 7, ,002 16, ,561 Aquarius FW 89, , , ,092 Aquarius 350, , , , , ,933 Transvaal UG , , , ,601 Aquarius FW 9, ,780 42, ,127 51, ,907 Polaris HW 2, , Polaris HW , ,666 25, ,666 Transvaal FW , ,022 10, ,022 Polaris HW Total 1,559, ,039 1,792, ,068 3,352, ,107 14