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1. Martabe - Overview

2. Social License

3. Production

4. Exploration

5. Summary

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Six known deposits within a 5km x 6km area with

Purnama the largest so far

Part of a large-scale mineralised district which has the

potential to host further gold and gold-copper deposits

Purnama

Tor UlualaRamba Joring

Uluala Hulu(behind Tor Uluala)

Uluala Hulu(behind Tor Uluala)

Process Plant

Barani

Horas

Arcs of Indonesia and adjacent areas form one of the worlds great gold and copper-gold mineral

provinces

The province is equally well endowed with epithermal (gold) and porphyry (copper-gold) deposits

The Arc from Sumatra to east of Java contains approximately 70moz Au, 145mOz Ag and over 16 million

tonnes of Cu in past production and resources

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• 1997 Discovery by Normandy (JV with Anglo)

• 2009 G-Resources commences construction

• 2012 First Gold

• 2016 Acquired by consortium lead by EMR

• 1997 Discovery by Normandy (JV with Anglo)

• 2009 G-Resources commences construction

• 2012 First Gold

• 2016 Acquired by consortium lead by EMR

Purnama

Process Plant

BaraniTSF

4.5Mtpa ore bulk style open-pit mining

Low LOM strip ratio of 0.9:1 for Purnama

Standard process technology

Mine, crush, SAG/Ball mill, carbon-in-leach (CIL) operation, gold/silver

bullion production; designed to treat oxide ores and mixed ores

Assumed LOM gold recoveries 77%, silver recoveries 67% -

currently achieving ≈ 83% and ≈ 69% respectively

stockpilePrimary Crushing

ROM

Pebble CrushingGrinding Mills

CIL

Water Services

Desorption

Gold Room

CrushingSAG &

Ball Mill

Leach /

CILTailings

Martabe

Smelting

Jakarta

Refinery

PT Agincourt Resources

ARS - 95% PT ANA - 5%

Martabe Gold Mine

North Sumatra Indonesia

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At PT Agincourt Resources we believe that the support and endorsement from our local

communities is fundamental to the long-term success of our business. Trust, mutual

respect, active partnership and long term commitment to a workable relationship and

achieving sustainable development are the cornerstones of the company’s philosophy.

CSR

1. Health programs e.g. mother and child health, nutrition, cataract blindness

2. Education e.g. reading gardens, classrooms, Teacher English training

3. Infrastructure e.g. clean water, public facilities, bridges, roads

4. Agriculture e.g. training and assistance to local farmers for crop productivity improvement

5. Economic development e.g. local businesses, local employment

Human Resources

1. Development of local people

2. 70% of workforce from the local area

3. Training and development for long term skills

4. Gender program – providing more opportunities for women at Martabe

Cataracts 4,500 patients and indirectly 18,000 family

Puskesmas – Medical Clinic for local community

Clean water, sanitation, personal hygiene are key factors in diarrhoea related illness

Supporting the community in the provision of basic infrastructure needs and improve the standard of living

1,200m2

Inpatient Puskesmas

174m & 150m

Hanging Bridges

1,723m3

River Gabion

900m2

Grand Mosque

23km

Clean Water Piping

78unit

Public Ablution

6,2km

Village Concrete Road

3unit

Government Office

Clean Water

Village roads & bridges

Increase community income through the creation of new business opportunities;

increase capacity and productivity of the SMEs, farmers and fishermen

37PTAR Contractor & Supplier

2unit

Locally-owned Retailer

“Bagasta “& “Sahata”

3village

Fishery Development

12Farmer Group

Paddy Rice Devp.

3fruit demplot

Papaya, Pineapple, Watermelon

6village

Horticulture with KWT

Organic Farming Method

CapacityBuilding Programs

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Safety – LTIFR: 0.34 (per million man hours)

TRIFR: 3.39 (per million man hours)

Environment – compliant

Community – strong support

Government – all permits in place

Au sold – 302k ozs

MIP program success

Unit Costs – AISC* : $503/oz*(All In Sustaining Costs, World Gold Council)

OPERATIONS 2013 2014 2015

Tonnes Milled (Mt) 3.615 3.867 4.210

Gold Sold (Kozs) 280 274 302

Silver Sold (Kozs) 1,464 2,118 2,568

FINANCIAL - USD 2013 2014 2015

AISC $/oz $799 $700 $503

Mine• Mine Productivity – improved

efficiency and productivity rates• Fleet options study – bigger trucks,

larger excavators

Mine to Mill• Drill & Blast – fragmentation, size• Secondary crushing

Process Plant• SAG productivity – operating

parameters, speed, charge, weight

• SAG liners, discharge grates• Pebble crusher• Availability

Costs • Power• Supply costs• Overheads

Efficiency , Productivity, Cost Reduction, Increased Revenue

• Optimising grinding circuit

• Energy cost reduction

• Debottlenecking Process Plant 5mtpa

• Mine Fleet Optimisation

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Resources (Moz Au) Reserves (Moz Au)

2009 6.45 2.8

2015 (public reported Resource) 7.4 2.8

Gold in ore milled (2012-15) 1.15 1.15

Total at 2015 + ore milled 8.55 3.95

Total change 2009-2015 + 2.10 + 1.15

Resources = metal in the groundReserves = economic assessment of ResourcesMoz Au = millions of ounces of gold

Barani Reserve

Horas South

Horas South

Horas Resource

Barani

TSF

Batangtoru River

Exploration 3-4 km south of Martabe in January located a new cluster of deposits.

Includes a new 1km long undrilled target at Horas South. Drilling planned.

Oxide pods being drilled at Horas West.

Other areas identified for surface follow up.

Targets to be assessed

Targets to be assessed

Targets to be assessed

• Multiple early stage targets to be drill tested.

• Undrilled extensions to known Resources.

• Ongoing conversion of Resources into Reserves.

• In mine exploration and infill has expanded the Reserve tonnes and increased average grade, and is predicted to continue doing so.

• Ongoing projects for high grade underground extensions and refractory processing.Horas Cluster

Partodungan

Eastern Contact Zone

BaringinDrill hole locationsBackground geophysics resistivity

Tor Uluala

Ramba Joring

Purnama

Barani

Horas

Uluala Hulu

• The Martabe COW consists of 1639km2 of the highly prospective Sumatra belt

• 130km strike length along the belt covering multiple project areas

• Multiple targets remain to be drill tested

• Includes a mix of gold-silver and porphyry copper-gold targets

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1. Sustainable Development• Strengthening social license with local community

2. Optimising costs• MIP Program – efficiency, productivity, ounces = Cash Margin• Mine, Mill, Power, Major Contracts, Overheads

3. Optimising capacity• Optimising mine fleet• Optimising grinding circuit• Debottlenecking the process plant (existing assets)

4. Growth through exploration• Extend current mine line and utilise existing assets and infrastructure• Extensions to existing deposits• Near mine targets • Contract of Work targets