St Barbara Limited - Revised Proposal from Silver Lake to Acquire Leonora Assets

St Barbara Limited ('St Barbara') (ASX: SBM) notes the announcement by Silver Lake Resources Limited ('Silver Lake') (ASX: SLR) on 19 May 2023 setting out the terms of a revised non-binding, indicative and conditional proposal ('Non-binding, Indicative and Conditional Proposal') for St Barbara's Leonora assets.

The revised, Non-binding, Indicative and Conditional Proposal comprises:

Cash consideration of $370 million and Scrip consideration, comprising 327.1 million new Silver Lake shares to be issued to St Barbara.

St Barbara acknowledges receipt of the revised Non-binding, Indicative and Conditional Proposal which is currently being reviewed by the St Barbara Board. The St Barbara Board will update the market once it has concluded its deliberations.

St Barbara is advised by Macquarie Capital (Australia) Limited as financial adviser and King & Wood Mallesons as legal adviser

Contact:

David Cotterell

Tel: [phone]

Email: [e-mail]

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