Gold Road Resources : Gruyere Project Update

ASX Announcement

29 January 2019

Gruyere Project Update

CONTACT DETAILSGold Road Resources Ltd Level 2, 26 Colin St

Highlights

West Perth WA [e-mail]

T [phone]

	Successful introduction of material through Primary Crusher to Coarse Ore	ASX Code GOR
Stockpile
	First ore mined as scheduled
		Gold Fields
Level 5, 50 Colin St
	First gold production remains on target for June 2019 quarter	West Perth WA 6005
www.goldfields.com
	Construction is 91% complete and remains on schedule and on budget
T [phone]
JSE:GFI NYSE: GFI

Gold Road Resources Limited (Gold Road) and Gruyere Mining Company Pty Ltd, a member of the Gold Fields Limited group (Gold Fields), provide an update on construction and commissioning progress for the Gruyere Gold Project (Project), which is being developed as a 50:50 Joint Venture approximately 200 kilometres east of Laverton in Western Australia.

Project Progress

First ore was mined on schedule in January 2019 as Downer commenced double‐shift operations as part of the mining production ramp‐up. To de‐risk the Project start‐up a significant amount of ore is forecast to be stockpiled in advance of first gold production.

Construction of the Gruyere process plant and infrastructure continues to progress with overall construction at 91.2% as at 18 January 2019.

Photos clockwise from top: primary crusher to coarse ore stockpile circuit, CV02 delivering material to the coarse ore stockpile,

CV01 transfer station to CV02

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Construction works in the primary crusher area are substantially complete, with ore commissioning of the primary crusher to coarse ore stockpile circuit in progress.

The remaining process plant construction works are concentrated in the milling, CIL and elution areas and include piping, electrical and instrumentation installations and progressive commissioning of systems and equipment through these areas.

The Project remains on schedule for first gold production in the June 2019 quarter and within previously announced forecast total cost estimates.

Photos clockwise from top: Aerial Gruyere process plant, conveyor to pebble crusher and Gruyere pit

For further information, please visitwww.goldroad.com.auor contact:

Gold Road Resources	Media Enquiries - Cannings Purple
Duncan Hughes	Warrick Hazeldine or Peter Klinger
Manager - Business Development &	[e-mail]
Investor Relations	[e-mail]
Tel: [phone]	Tel: [phone] or [phone]

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