St Barbara Limited ('St Barbara' or the 'Company') (ASX: SBM) is pleased to announce that all assay results have been returned for the 14-hole, 1846-metre metallurgical diamond drill program at the Simberi Operations in Papua New Guinea (PNG).

This has allowed the collection and dispatch of 2,434kg of sulphide ore for the planned comprehensive metallurgical testwork program in Canada. Managing Director and CEO Andrew Strelein said 'The receipt of remaining assay results for the metallurgical diamond drill program is another important milestone for the 2023/24 campaign. This has allowed the finalisation of the second batch of sample material now in transit to the selected laboratory in Canada.'

Resolve assumptions for Sorowar ore competency which was previously classified as 'medium' competency when all other ore types were classified as 'extremely soft' which has a significant impact on the capacity of any grinding circuit design, o Determine whether lower flotation mass recovery can be achieved than indicated in previous testwork to better scale the flotation circuit without adversely impacting gold recovery, and o Test potential of ultra-fine grinding and leaching of concentrate to deliver a more capital efficient project design with attractive recovery outcomes

The first batch of sample material derived from the initial 10 holes arrived in Canada for metallurgical testwork on 9 February 2024. A second and final batch of sample material derived from the final four metallurgical holes and from two suitable resource definition holes is now in transit from Simberi to Canada. In total 656 one metre PQ or HQ half diamond core weighing 2,434 kilograms will be available for the testwork

Contact:

Tel: +61 3 8660 1959

Email: info@stbarbara.com.au

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Dr Roger Mustard, who is a Member of The Australasian Institute of Mining and Metallurgy. Dr Mustard is a full-time employee of St Barbara and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Dr Mustard consents to the inclusion in the report of the matters based on his information in the form and context in which it appears

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