• Simberi Gold Company Pty Ltd, a wholly-owned subsidiary of St Barbara, has received PNG tax assessments totalling PGK$523,056,980
• St Barbara strongly disagrees with the basis for the assessments and analysis applied
• Simberi Gold intends to lodge a formal and extensive objection within the 60 days objection period

St Barbara Limited (ASX: SBM) has announced that its wholly-owned subsidiary, Simberi Gold Company Pty Ltd ('Simberi Gold'), has been notified by the Papua New Guinea (PNG) Internal Revenue Commission (IRC) of PNG tax assessments relating to dividend withholding tax and income tax totalling PGK$523,056,980. The Company and Simberi Gold are continuing to urgently review and consider the IRC Correspondence, but at this stage, the Company strongly disagrees with the basis for the assessments and analysis applied. Simberi Gold intends to lodge a formal and extensive objection within the 60 days objection period. St Barbara intends to provide a further update to the market as its review of the IRC Correspondence progresses.