SARACEN MINERAL HOLDINGS LIMITED

ACN: 009 215 347

Record June Quarter caps off outstanding year of cash generation

Robust balance sheet underwrites next phase of organic growth

Corporate Details:

7th July 2015

ASX code: SAR

Corporate Structure:

Ordinary shares on issue: 792.8m

Unvested employee performance rights:

7.3m

Market Capitalisation: A$361m

(share price A$0.455)

Cash & Bullion (30 June): A$44.9m

Debt: Nil

Directors:

Mr Geoff Clifford

Non-Executive Chairman

Mr Raleigh Finlayson

Managing Director

Mr Mark Connelly

Non-Executive

Mr Barrie Parker

Non-Executive

Mr Martin Reed

Non-Executive

Ms Samantha Tough

Non-Executive

Substantial Shareholders:

Wroxby Pty Ltd 8.0%

Paradice Investment Management 7.8% Karara Capital Pty Ltd 5.6%

Eley Griffiths Group 5.3%

Van Eck Associates Corporation 5.0%

Registered Office:

Level 4

89 St Georges Terrace

Perth WA 6000

Telephone: +61 8 6229 9100

Facsimile: +61 8 6229 9199

For further details contact:

Troy Irvin Telephone +61 8 6229 9100 [email protected]

Key Points

• Record FY15 gold production of 167,531oz (comfortably exceeding guidance range of 145-155koz)

• Record June quarter gold production of 46,563oz

• Cash and bullion of $44.9m at 30 June ($14.7m increase from 31
March)

• Mining completed at the highly successful Whirling Dervish open pit

• Pre-strip mining underway at the ~125kozpa Thunderbox project

• FY16 production guidance 150-160koz at an All In Sustaining Cost

("AISC") between A$1025-1075/oz (Carosue Dam only)
Saracen Mineral Holdings (ASX: SAR) is pleased to announce record annual and quarterly production from its Carosue Dam gold mine in WA.
The Company's robust balance sheet (A$44.9m cash and bullion, no debt), substantial ore stockpile and strong production outlook effectively underwrites the next phase of organic growth at the Thunderbox open pit.
Saracen anticipates production of 150-160koz from Carosue Dam in FY16 at an All-in Sustaining Cost (AISC) between A$1025-1075/oz. With the addition of Thunderbox, Saracen's production will double to
~300,000oz per annum from the two operational centres at an AISC of

Saracen's Managing Director Raleigh Finlayson congratulated all involved with the successful completion of the Whirling Dervish open pit.

"We finished the pit within 36 hours of the original predicted completion date of 30 June 2015 which we set back in 2012 before mining commenced. The pit has been a great success and gives us real momentum and confidence as we embark on our next project at Thunderbox" he said.

For further information please contact:

Investors: Troy Irvin

Chief Corporate Development Officer

Email: [email protected]

Media Enquiries: Read Corporate

Paul Armstrong/Nicholas Read

Contact: (08) 9388 1474

Email: [email protected]