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HARMONY GOLD MINING COMPANY LIMITED - Maiden copper-gold resource of 4 million gold equivalent ounces defined for Harmonys Kili Teke prospect

Release Date: 24/11/2015 13:00:00      Code(s): HAR       PDF(s):  
Maiden copper-gold resource of 4 million gold equivalent ounces defined for Harmony’s Kili Teke prospect

Harmony Gold Mining Company Limited
Registration number 1950/038232/06
Incorporated in the Republic of South Africa
ISIN: ZAE000015228
JSE share code: HAR
(“Harmony” and/or “the Company”)

Maiden copper-gold resource of 4 million gold equivalent ounces defined
for Harmony’s Kili Teke prospect

Key highlights:
*   Greenfield porphyry copper-gold discovery
    -   The first new porphyry copper-gold deposit defined in PNG since the
        Golpu discovery in the early 1990’s
*   Drilling to date has defined an initial Inferred Mineral Resource of
    128 million tonnes @ 0.4 % copper, 0.3 g/t Au, 170 parts per
    million (ppm) molybdenum containing
    -   506 000 tonnes copper, 1.2 million ounces gold, 22 000 tonnes
        molybdenum
    -   4   million ounces on a gold equivalent basis1
*   Excellent exploration upside
    -   Resource model constrained to a zone of 600m long, 300m wide and
        400m deep (above the 1000m RL), with the mineralisation remaining
        open at depth and along strike
    -   New significant drill intercepts at depth below the Resource area,
        and along strike including:
        KTDD014: 144m @ 0.53% Cu, 0.23 g/t Au from 610m
        KTDD017: 374m @ 0.51% Cu,   0.27 g/t Au, 173 ppm Mo from 391m
    -   High grade zones of copper-gold skarn mineralisation yet to be
        included in the modelling
*   Positive preliminary scoping parameters
    -   Mineralisation extends to surface and accessible through open pit
        mining techniques
    -   Preliminary metallurgical test-work favourable with good copper and
        gold recoveries and clean concentrates
    -   Proximity to key infrastructure including roads and power
*   Diamond drilling continues with two drilling rigs onsite to
    accelerate infill and extension drilling

Harmony Gold Mining Company Limited (Harmony and/or Company) is pleased
to announce a maiden Mineral Resource estimate for the Kili Teke copper-
gold deposit on its 100% owned exploration licence EL2310, containing
506 000 tonnes of copper, 1.2 million ounces of gold and 22 000 tonnes
of molybdenum.

The Mineral Resource comprises 128 Million tonnes @ 0.4 % copper, 0.3
g/t Au, 170 ppm molybdenum and was completed in accordance with the
guidelines of the SAMREC and JORC (2012 edition) codes. The Mineral
Resource is classified as Inferred, and has been defined over a zone
600m long, 300m wide and 400m deep. At this stage the Resource is
constrained only by the drill density and limits of the drill pattern
(refer figure 1, a schematic long section (looking west) showing
Inferred Resource outline in relation to drill intercepts and modelled
0.3% (pale yellow) and 0.5% copper (red) block model grade shells, in
the full press release which can be viewed at
https://www.harmony.co.za/investors/news-and-events/company-
announcements-2/announcements-2015).

Harmony CEO Graham Briggs commented: “This initial Inferred Mineral
Resource estimate for Kili Teke of 4 million ounces of gold equivalent1
represents an extremely positive outcome from the early stage drilling
at Kili Teke. Additional significant drill intercepts have already been
obtained at depth below and along strike. The declaration of a maiden
resource is step one in growing a magnificent resource base – one which
is wholly owned by Harmony. Our exploration discovery cost is less than
US$10 per gold ounce equivalent – one of the lowest world-wide. We are
thrilled at the prospect of turning Kili Teke into a major new deposit,
further enhancing the value of our world class copper-gold portfolio in
PNG.”

For more detail on the Kili Teke resource and drilling information,
please refer to the Annexure of
https://www.harmony.co.za/downloads/finish/91-files/1790-kili-teke-
annexure-nov-2015.


Competent Persons statement

The information in this report that relates to Exploration Results
and other scientific and technical information, is based on
information compiled by Mr Mike Humphries. Mr Humphries is a full
time employee of Harmony and a member of the Australia Institute of
Geoscientists. Mr Humphries has sufficient experience which is
relevant to the styles of mineralisation and types of deposits under
consideration and to the activity which he is undertaking to qualify
as a Competent Person as defined in The JORC Code 2012 and SAMREC.
Mr Humphries consents to the inclusion in this report of the matters
based on this information in the form and context in which it
appears.

The information in this report that relates to Mineral Resources is
based on information compiled by Mr Greg Job. Mr Job is a full time
employee of Harmony and a member of the Australasian Institute of
Mining and Metallurgy. Mr Job has sufficient experience that is
relevant to the styles of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to qualify
as a Competent Person as defined in 2012 Edition of the
‘Australasian Code for Reporting of Exploration Reports, Mineral
Resources and Ore Reserves’ and SAMREC. Mr Job consents to the
inclusion in this report of the matters based on this information in
the form and context in which it appears.


For more details contact:

Henrika Ninham
Investor Relations Manager
On +27 (0)82 759 1775

Marian van der Walt
Executive: Corporate and Investor Relations
+27(0) 82 888 1242


Johannesburg, South Africa
24 November 2015

Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

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