Tribune Resources Limited

ABN 11 009 341 539

Annual Report - 30 June 2016

Contents

30 June 2016

Corporate directory 2

Directors' report 3

Auditor's independence declaration 25

Statement of profit or loss and other comprehensive income 26

Statement of financial position 27

Statement of changes in equity 28

Statement of cash flows 29

Notes to the financial statements 30

Directors' declaration 70

Independent auditor's report to the members of Tribune Resources Limited 71

Shareholder information 73

Directors Otakar Demis - Chairman Anthony Billis

Gordon Sklenka

Company secretaries Otakar Demis Lyndall Vaughan

Notice of annual general meeting The annual general meeting of Tribune Resources Limited will be held at:

IBIS Styles Hotel 45 Egan Street

Kalgoorlie WA 6430

on 25 November 2016 at 10.00am.

Registered office Suite G1, 49 Melville Parade South Perth WA 6151

Tel: +61 (8) 9474 2113

Fax: +61 (8) 9367 9386

Principal place of business Suite G1, 49 Melville Parade

South Perth WA 6151 Correspondence address: PO Box 307

West Perth WA 6872

Share register Advanced Share Registry Services Limited 110 Stirling Highway

Nedlands WA 6009

Tel: +61 (8) 9389 8033

Fax: +61 (8) 9262 3723

Auditor RSM Australia Partners 8 St Georges Terrace Perth WA 6000

Bankers ANZ Bank

77 St George's Terrace Perth WA 6000

Stock exchange listing Tribune Resources Limited shares are listed on the Australian Securities Exchange

(ASX code: TBR)

Websitewww.tribune.com.au

Corporate Governance Statement The Company's directors and management are committed to conducting the Group's

business in an ethical manner and in accordance with the highest standards of corporate governance. The Company has adopted and substantially complies with the ASX Corporate Governance Principles and Recommendations (3rd Edition) ('Recommendations') to the extent appropriate to the size and nature of the Group's operations.

The Company has prepared a Corporate Governance Statement which sets out the corporate governance practices that were in operation throughout the financial year for the Company, identifies any Recommendations that have not been followed, and provides reasons for not following such Recommendations.

The Company's Corporate Governance Statement and policies, which will be approved at the same time as the Annual Report, can be found on its website:http://www.tribune.com.au/Corporate-Governance

The directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'Group') consisting of Tribune Resources Limited (referred to hereafter as the 'Company', 'parent entity' or 'Tribune') and the entities it controlled at the end of, or during, the year ended 30 June 2016.

Directors

The following persons were directors of Tribune Resources Limited during the whole of the financial year and up to the date of this report, unless otherwise stated:

Otakar Demis - Chairman Anthony Billis

Gordon Sklenka

Principal activities

The principal activities of the Group during the year were exploration, development and production activities at the Group's East Kundana Joint Venture tenements ('EKJV').

Dividends

There were no dividends paid, recommended or declared during the current or previous financial year.

Review of operations

The profit for the Group after providing for income tax and non-controlling interest amounted to $30,700,976 (30 June 2015: $7,015,940).

East Kundana Joint Venture

The East Kundana Joint Venture ('EKJV') is located 25km west north west of Kalgoorlie and 47km north east of Coolgardie.

The EKJV is between Rand Mining Limited (12.25%), Tribune Resources Limited (36.75%) and Gilt-Edged Mining NL (51%). On 1 March 2014, Gilt-Edged Mining NL became a wholly owned subsidiary of Northern Star Resources Ltd.