INDEPENDENCE GROUP NL ANNUAL REPORT 2017

MINERAL RESOURCES AND ORE RESERVES IGO’s Mineral Resource and Ore Reserve estimates for 30 June 2017 (and 30 June 2016) are listed in the tables below. Mineral Resource estimates are reported inclusive of Ore Reserve estimates. All estimates are reported with levels of precision appropriate for the respective JORC Code classifications applied at the time of reporting. The totals and averages in some reports may appear to be inaccurate as a function of value rounding. Below each table, notes explain material changes to the tonnage and grades of estimates between the 2016 and 2017 reports. The complete JORC Code estimation reports on which the summary tables below are based, including JORC Code Table 1 checklists, and explanations of material assumptions and technical parameters, can be found at www.igo.com.au – refer to the menu ‘Our Business – Mineral Resources & Ore Reserves Summary’. JORC Code Competent Person statements for the 30 June 2017 estimate are included on page 30. IGO’s Mineral Resource and Ore Reserve governance include systems and procedures that ensure: • All persons responsible for preparing and reporting IGO estimates qualify as a Competent Person as defined by the JORC Code (2012 Edition), and the Competent Persons have provided written sign-off on publicly reported estimates • Competent Persons have used IGO’s annual corporate guidance for metal prices and foreign exchange rates when determining economic viability and cut-off grades • Estimates are prepared using accepted industry methods and the estimation forecasting precision is monitored against production in operating mines • Competent Persons prepare and provide IGO with the supporting documentation for each estimate, and before being reported to the Board, estimates are either reviewed by IGO senior technical staff or by a suitably qualified external reviewer • Any material changes or updates to estimates are reviewed and approved by the IGO’s Board before being promptly announced to the market IGO ANNUAL REPORT 2017— 23