17 October 2014

Kingsgate Consolidated Limited (ASX: KCN) wishes to advise that it has completed an annual update to its Mineral Resources and Ore Reserves for the period ending 30 June 2014. The update takes in to account mining depletion and current economic and operational assumptions. Reflecting the importance of silver and other economic by-products to Kingsgate, Mineral Resources and Ore Reserves are quoted on both a gold and silver only basis and a gold equivalent (AuEq) basis.

Group Mineral Resources

Group Mineral Resources (inclusive of Ore Reserves) were estimated at 4.73 million ounces of gold and 250.0 million ounces of silver (300.7Mt at 0.49g/t Au and 25.9g/t Ag). This equates to a reduction of 0.29 million ounces (~6%) for gold and an increase of 4.0 million ounces (~2%) for silver compared to the 30 June 2013 estimate.

On a gold equivalent basis, Group Mineral Resources were estimated at 10.34 million ounces gold equivalent (300.7Mt at 1.07g/t AuEq) representing a decrease of 0.30 million ounces gold equivalent (~3%) compared to the 30 June 2013 estimate. Approximately 70% of the decrease relates to mining depletion at Chatree and Challenger, the other 30% relates to a reduction from Challenger mostly due to the removal of non-Challenger West resources.

Group Ore Reserves

Group Ore Reserves are estimated at 1.69 million ounces of gold and 69.7 million ounces of silver (72.3Mt at 0.73g/t Au and 30.0g/t Ag). This represents a decrease of 0.23 million ounces (~12%) of gold and an increase of 52.7 million ounces (~410%) of silver compared to the 30 June 2013 estimate. The substantial increase in silver is due to the addition of Ore Reserves from the Nueva Esperanza Project in Chile. The decrease in gold mostly relates to mining depletion from Chatree and Challenger (~92%) with the remainder due to updated pit designs using lower metal prices. The decrease was partially offset by the addition of gold reserves from Nueva Esperanza.

On a gold equivalent basis, Group Ore Reserves are estimated at 2.72 million ounces gold equivalent (72.3Mt at 1.17g/t AuEq). This represents an increase of 0.64 million ounces (~31%) gold equivalent compared to the 30 June 2013 estimate. This increase is principally due to the addition of gold equivalent Ore Reserves from Nueva Esperanza from the conversion of 52.7 million ounces of silver.

Chatree Gold Mine, Thailand

Chatree Mineral Resources are estimated at 3.84 million ounces of gold (181.3Mt at 0.66g/t Au and 6.46g/t Ag) compared to 4.03 million ounces of gold in April 2013. This decrease is in line with mining depletion for the period.

Chatree Ore Reserves are estimated at 1.40 million ounces gold (54.4Mt at 0.80g/t Au and 9.25g/t Ag) compared to 1.82 million ounces gold in 2013, mainly due to mining depletion and pit reoptimisation at lower gold and silver prices.

Challenger Gold Mine, South Australia

Challenger Mineral Resources are now estimated at 0.64 million ounces of gold (2.5Mt at 7.80g/t Au). This compares to 0.74 million ounces of gold in June 2013 and represents a decrease in line with mining depletion for the period and the removal of non-Challenger West resources, partly offset by an increase in the Mineral Resource at Challenger West.

The Ore Reserve estimate for Challenger increased by 0.06 million ounces (~60%) to 0.16 million ounces gold (0.84Mt at 5.77g/t Au) compared to 0.10 million ounces gold in 2013. The increase is principally a result of additional conversion to reserves at Challenger West.

Nueva Esperanza Project, Chile

The Nueva Esperanza Mineral Resource estimate has not changed from 30 June 2013. Mineral Resources are estimated at 1.56 million ounces of gold equivalent (28.9Mt at 1.67g/t AuEq60).

Ore Reserves were estimated for the first time at Nueva Esperanza as part of a feasibility study that was announced on ASX on 17 March 2014. Ore Reserves are estimated at 1.04 million ounces gold equivalent (17.1Mt at1.89g/t AuEq60).

Bowdens Silver, Lead & Zinc Project, New South Wales

The Bowdens Mineral Resource estimate has not changed from that previously reported (ASX announcement, 18 October 2013) of 88.0Mt at 47.4g/t Ag, 0.29g/t Pb and 0.39g/t Zn for a combined 182 million ounces silver equivalent (AgEq).

The Mineral Resource and Ore Reserve estimates have been reported according to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code, 2012).

Tim Benfield
Acting CEO
Kingsgate Consolidated Limited

17 October 2014

Manager
Company Announcements Office
Australian Securities Exchange

Preliminary September Quarterly Release

As a pre-release to its September Quarterly Report, which is scheduled for release on 29 October 2014, Kingsgate would like to advise the following information, subject to confirmation and finalisation:

• Group quarterly gold production of 53,557 ounces at a total cash cost of US$906/oz.
• Chatree produced 33,648 ounces at US$751/oz and Challenger produced 19,909 ounces at US$1,167/oz.

This solid production level is in-line with Group guidance of 195,000 ounces to 215,000 ounces for the current fiscal year.

At the end of September, cash and bullion/doré totalled A$76.4 million, comprising cash of A$60.7 million and bullion/doré of A$15.7 million.

Executive Chairman of Kingsgate, Mr Ross Smyth-Kirk said, “We have started the year with a very solid first quarter putting us well on track for the full year.”

“We remain focussed on realising the full potential of our asset portfolio and I believe we have the requisite skills to achieve it.”

Tim Benfield

Acting CEO
Kingsgate Consolidated Limited