IGO Interactive Annual Report 2019

IGO publicly reports Exploration Results, Mineral Resource and Ore Reserve estimates in accordance with the ASX listing rules and the requirements and guidelines of the 2012 edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves – the JORC Code. IGO previously reported its annual Mineral Resource and Ore Reserve estimates to the ASX on an end of financial year (FY) basis but in FY18 elected to change the annual reporting to an end of calendar year (CY) basis to align with reporting IGO’s internal budgeting and guidance process, which typically follow the estimation work as part of financial year planning for the next budget cycle. At the end of CY18, Mineral Resources and Ore Reserves were reported from IGO’s two 100%-owned WA base metal interests (Nova Operation and Long Project), and IGO’s 30% interest in Tropicana Gold Mine (TGM). The complete JORC Code reports, including JORC Code Table 1 checklist, which detail the material assumptions and technical parameters for each estimate, can be found at www.igo.com.au under the menu ‘Our Business – Mineral Resources and Ore Reserves' and also the ASX release CY18 Mineral Resource and Ore Reserve Statement dated 20 February 2019. Listings of the respective estimates for the end of FY18 and end of CY18 are tabulated below for IGO’s total interests and for the operational and project subdivisions. The JORC Code Competent Person statements for the end of CY18 estimates are included on page 31 of this annual report. IGO divested the Long Project on 31 May 2019 and as such references to the Long Projects' Mineral Resources and Ore Resources are only relevant to that divestment date in FY19. IGO’s public reporting governance for estimates and results includes several assurance measures. Firstly, IGO ensures that the Competent Persons responsible for public reporting: • Are current members of a professional organisation that is recognised in the JORC Code framework • Have sufficient mining industry experience that is relevant to the style of mineralisation and reporting activity, to be considered a Competent Person as defined in the JORC Code • Have provided IGO with a written sign-off on the results and estimates that are reported, stating that the report agrees with supporting documentation regarding the results or estimates prepared by each Competent Person • Have prepared supporting documentation for results and estimates to a level consistent with standard industry practices – including the JORC Code Table 1 Checklists for any results and/or estimates reported. IGO also ensures that any publicly reported results and/or estimates are prepared using accepted industry methods and using IGO’s corporate guidance for metal prices and foreign exchange rates. On operating mines, IGO additionally ensures that the estimation precision is reviewed regularly through a reconciliation comparing the Mineral Resource and Ore Reserve forecasts to actual mine and process production results. Estimates and results are also peer reviewed internally by IGO’s senior technical staff before being presented to IGO’s Board for approval and subsequent ASX reporting. Market sensitive or production critical estimates may also be audited by suitably qualified external consultants to ensure the precision and correctness of the reported information. MINERAL RESOURCES AND ORE RESERVES IGO TOTAL IGO TOTAL — MINERAL RESOURCES Project or Operation Mass (Mt) Grades estimates In situ metal estimates Ni Cu Co Au Ni Cu Co Au (%) (%) (%) (g/t) (kt) (kt) (kt) (koz) FY18 Nova Operation (100%) 13.1 2.0 0.8 0.07 - 268 109 9 - 30-6-2018 Long Project (100%) 0.8 4.2 - - - 32 - - - Tropicana Gold Mine (30%) 41.9 - - - 1.62 - - - 2,187 End of FY18 Total 55.8 Grades are not additive 300 109 9 2,187 CY18 Nova Operation (100%) 13.2 2.0 0.8 0.07 - 270 107 9 - 31-12-2018 Long Project (100%) 0.8 4.2 - - - 32 - - - Tropicana Gold Mine (30%) 40.9 - - - 1.76 - - - 2,310 End of CY18 Total 54.9 Grades are not additive 302 107 9 2,310 CY18/FY18 Nova Operation (100%) 101% 100% 100% 100% - 101% 98% 100% - (relative) Long Project (100%) 100% 100% - - - 100% - - - Tropicana Gold Mine (30%) 98% - - - 109% - - - 106% CY18/FY18 98% Grades are not additive 101% 98% 100% 106% TABLE 1 — 30 June 2018 and 31 December 2018 28 — IGO ANNUAL REPORT 2019