Northern Star Resources Ltd · ASX:NST

Northern Star Resources — Corporate Update (July 2022)

36 slides from Northern Star Resources's corporate update, Aug 1, 2022

  1. Slide 1: KCGM Site Visit Presentation

    For personal use only KCGM Site Visit Presentation July 2022

  2. Slide 2: Forward Looking Statements, Reserves and Resources

    Forward Looking Statements, Reserves and Resources Forward Looking Statements For personal use only Northern Star Resources Limited has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completene

  3. Slide 3: Acknowledging our landowners

    Acknowledging our landowners For personal use only Northern Star would like to acknowledge and pay our respects to Traditional Owner groups whose land we are privileged to work on, and whose input and guidance we seek and value within the operation of our business. We acknowledge their strong and sp

  4. Slide 4: KCGM Operations

    For personal use only KCGM OPERATIONS

  5. Slide 5: KCGM: Rich in history

    KCGM: Rich in history  The 1893 gold rush (initiated by Paddy Hannan), resulted in the discovery of the For personal use only Golden Mile  In 1903 there were 49 operating mines, 100 headframes and more than 3,000km of underground workings on the Golden Mile  In the 1980’s, consolidation aspiratio

  6. Slide 6: KCGM: One of the world's most significant gold mines

    KCGM: One of the world’s most significant gold mines  A Tier-1 world-class gold operating asset; 100% ownership For personal use only  Ranked Top 8 globally by Reserve* Moz Reserve Base of Global Operating Assets (27.4Moz Mineral Resource & 11.9Moz Ore Reserve) 50  297km2 of tenure, hosting +30km

  7. Slide 7: KCGM: Size and scale

    KCGM: Size and scale Production by site (%) For personal use only  Residential workforce of 857 Pogo 14% ( 34% Female | 66% Male) KCGM 30% Kalgoorlie  66Mtpa material movement, 58% Carosue Dam increasing to 80-100Mtpa Yandal 15% Kalgoorlie 28% 13%  39 new CAT 793F haul trucks, plus 6 upgraded 793

  8. Slide 8: KCGM: Business First

    KCGM: Business First For personal use only The right high performance organisation to do the work Nov Jan Mar Apr 2022 21 22 22 22 The Work Structure People Clarity Support Diagnosis  Design  Matching  Clarity  Execute • Systematically unpack +20 • Fit for purpose Org • Skills and capability def

  9. Slide 9: Connecting with our Community

    Connecting with our Community For personal use only Working with our local and regional communities to achieve mutually beneficial partnerships and sustainable long term social benefits  Community & Inclusion  Health & Wellness  Environment  Indigenous Advancement  Education & Development 9

  10. Slide 10: Geology - Our continuous improvement journey

    For personal use only GEOLOGY - Our continuous improvement journey

  11. Slide 11: World-Class Resource Base

    World-Class Resource Base For personal use only Resource  Large surface stockpiles 0.6Moz 2.9 Resources Open Pit  123Mt ore (2.9Moz Reserves) 7.8 27.4 Underground Moz 16.7  No cash mining costs 7.8Moz Stockpile Resources (incl Fimiston  Resource Model enhancements South UG) Reserve  Improve sch

  12. Slide 12: Fimiston North

    Fimiston North New Underground Portal, Golden Pike Drill Drive For personal use only  Mineral Resource increased by 20% (YoY) to 5.0Moz; Drill results including 4.7m @ 22.9g/t, 12.1m @ 3.8g/t  Lodes remain open to the north and down dip  First underground portal in the Super Pit in almost 25 year

  13. Slide 13: Mt Charlotte

    Mt Charlotte Planned 32 Level Drilling, Mt Charlotte For personal use only  3km north of the Fimiston processing plant  Significant potential to expand multiple areas adjacent to existing mine infrastructure  28% increase (YoY) in Ore Reserves to 1.2Moz, after depletion  At depth;  Main COB Ore

  14. Slide 14: Mount Ferrum

    Mount Ferrum Mount Ferrum Main Lode Long Section, New Drill Results For personal use only  Multiple stacked zones of Fimiston- style mineralisation located east of Mt Charlotte  South to Hidden Secret mining area, 500m east of the Sam Pearce Decline  New dedicated drill drive established  Infill

  15. Slide 15: Mount Percy - Little Wonder

    Mount Percy - Little Wonder Mount Percy Long Section, New Drill Results For personal use only  4km north of the Fimiston processing plant  Multiple mineralisation styles in multiple host rocks  Targeting bulk tonnage stockwork mineralisation over large area  Initial drilling delivered 100% resou

  16. Slide 16: Open Pit - Our continuous improvement journey

    For personal use only OPEN PIT - Our continuous improvement journey

  17. Slide 17: Optimisation Phase 1: Pathway to 650kozpa by FY26

    Optimisation Phase 1: Pathway to 650kozpa by FY26 For personal use only koz KCGM Pathway to 650kozpa by FY26 remains unchanged 700  Fleet delivery complete and commissioned 600  Material movement increasing to 80-100Mtpa 500  Access to Golden Pike North a key driver for low 400 cost ounces due to

  18. Slide 18: Optimisation Phase 1: Fleet delivery complete

    Optimisation Phase 1: Fleet delivery complete Fleet delivery – complete and commissioned 793F trucks For personal use only  39x 793F trucks  5% better fuel efficiency with increased tonnes  Upgraded 6x 793F trucks per hour  90% availability  2x PC-8000 Shovels  Average speed on grade increased

  19. Slide 19: Optimisation Phase 2: Near term focus

    Optimisation Phase 2: Near term focus For personal use only  Key mining areas:  Material movement of 80-100Mtpa over FY23-26  OBH (East Wall) in order to access Golden Pike North  FY22a: 66Mtpa  Great Boulder for long term ore source  FY23: +30% YoY  Golden Pike South primary ore source FY23

  20. Slide 20: Optimisation Phase 2: Lowering strip ratio

    Optimisation Phase 2: Lowering strip ratio For personal use only  9:1 Life of Mine strip ratio (including Inferred)  Fimiston South Stage 1 waste movement expected to Strip Ratio 16 drive step change in strip ratio FY23 & FY24 14 12  Inferred ore tonnes will be drilled to indicated status, 10 pro

  21. Slide 21: Optimisation Phase 3: Fimiston South Stage

    Optimisation Phase 3: Fimiston South Stage 2 For personal use only Fimiston South cut-backs Stage 1 (in progress)  47Mt moved FY21-22  Large benches and space opening up as a significant optimisation opportunity Stage 2  S38 submission on track for Q1 FY23  FY24 approval 21

  22. Slide 22: Underground - Our continuous improvement journey

    For personal use only UNDERGROUND - Our continuous improvement journey

  23. Slide 23: Underground Mineral Resource and Ore Reserve growth

    Underground Mineral Resource and Ore Reserve growth For personal use only Exploration success provides platform for KCGM Underground Resources underground production growth Moz 10  Underground Mineral Resources of 104Mt @ 2.3g/t for 8 7.8Moz (+20% YoY) 6  Underground Ore Reserves of 17.9Mt @ 2.0g/

  24. Slide 24: Mt Charlotte: Production growth lever

    Mt Charlotte: Production growth lever For personal use only  Mt Charlotte has produced over 5.6Moz at an average Overhead View of new Fair Play Vent Shaft taken during breakthrough video grade of 3.5g/t  Mining continues to deliver quality ounces at expected Raise Bore Head operating costs  Focus

  25. Slide 25: KCGM Underground production growth

    KCGM Underground production growth For personal use only  Mt Charlotte continues to demonstrate strong growth Mt KCGM Underground Ore Tonnes in underground productivity 5  Increasing contribution from higher grade ore (2.0g/t), 4 displacing lower grade stockpile feed (0.7g/t) 3  Ongoing undergrou

  26. Slide 26: Northern Star Mining Services: A strategic advantage

    Northern Star Mining Services: A strategic advantage For personal use only  NSMS began providing services at KCGM in November 2020, new management team and new fleet injected  Current fleet:  2 x Sandvik DD421 & 1 x Sandvik DD422i Jumbo  2 x Epiroc Simba E7C Longhole  6 x Sandvik LH517i Loaders

  27. Slide 27: Processing - Our continuous improvement journey

    For personal use only PROCESSING - Our continuous improvement journey

  28. Slide 28: Current process flowsheet

    Current process flowsheet  Continuing to invest and optimise in asset maintenance and productivity and reliability improvement For personal use only Tailings ROM Gyratory Stockpile SAG Mill Flotation Tail Flotation Tail FIM Tailings Dam Crusher Rougher & Scavenger Thickeners (3) Leach/Adsorption Ba

  29. Slide 29: KCGM Optionality: Mill Optimisation Study

    KCGM Optionality: Mill Optimisation Study For personal use only Progress • Resource increase to 27.4Moz • Material movement more • Maximised capacity to 13Mtpa • FY21 gold production of over • Reserve increase to 11.9Moz than doubled to +65Mtpa • Operating expenditure focus 472koz at AISC of A$1,385

  30. Slide 30: KCGM Optionality: Three expansion options being considered

    KCGM Optionality: Three expansion options being considered For personal use only Size of bubble represents Stage: Pre-Feasibility Study Free Cash Flow All three mill expansion options are financially compelling 1 (post tax) 24 17 INCREASING IRR (%) Mtpa  At gold price of A$2,250/oz: Mtpa 70% Bolt-o

  31. Slide 31: KCGM Optionality: Three expansion options being considered

    KCGM Optionality: Three expansion options being considered For personal use only All three expansion options1 deliver meaningful Incremental Gold Production vs AISC operational benefits: 300  Gold production growth of 100–200kozpa2 200  KCGM AISC reduction up to A$200/oz2 Incremental  Renewables

  32. Slide 32: Renewable Power - Our continuous improvement journey

    For personal use only RENEWABLE POWER - Our continuous improvement journey

  33. Slide 33: 2030 Pathway to Reduce Emissions by 35%

    2030 Pathway to Reduce Emissions by 35% For personal use only Strategic value Goldfields Power (Parkeston, Kalgoorlie) KCGM Up to 60% renewable power 33

  34. Slide 34: In Conclusion

    For personal use only IN CONCLUSION

  35. Slide 35: KCGM: The most prominent gold address in Australia

    KCGM: The most prominent gold address in Australia For personal use only  KCGM revitalising a world-class asset  65Moz mined to date and just starting  Average depth of the pit 500m, UG story commencing with drill platform and resource growth along with pit development  Processing improving the

  36. Slide 36: Northern Star Resources Limited

    Northern Star Resources Limited ASX Code: NST For personal use only Business First. Investor Enquiries: Sophie Spartalis T: +61 8 6489 2488 E: [email protected] W: www.nsrltd.com 36

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