• Significant trench intercepts up to 40 m @ 2.0 g/t Au
• Near-surface drill intercepts up to 28 m @ 1.0 g/t Au
• New discovery fast-tracked with grade control drilling starting in Q1 2025

St Barbara Limited has announced a new oxide discovery between the Pigibo North and Southwest Sorowar pits at its Simberi operations in Papua New Guinea. The discovery was made during the company's FY25 exploration and sterilisation drilling campaign, with significant trench intercepts including 30 m @ 1.3 g/t Au, 40 m @ 2.0 g/t Au, 20 m @ 0.9 g/t Au, and 25 m @ 2.1 g/t Au. Encouraging near-surface drill intercepts from the sterilisation drilling include 28 m @ 1.0 g/t Au from surface and 24 m @ 1.4 g/t Au from surface. The company is fast-tracking evaluation of this new discovery, with grade control drilling set to commence in January 2025 to test an area of approximately 250 m long by 80 m wide. The broader FY25 exploration and sterilisation drilling program at Simberi is progressing ahead of schedule, with assay results received for 44 of the planned 62 holes totalling 7,777 m. This includes additional resource definition drilling at the Sorowar-Pigiput Trend and Samat deposit. The new oxide discovery represents a positive development for the current Simberi oxide operations.

The new oxide discovery is being fast-tracked, with grade control drilling commencing in January 2025 to test the extent of the shallow mineralisation. The broader FY25 exploration and sterilisation drilling program at Simberi is progressing ahead of schedule.