Doray Managing Director, Allan Kelly with Minister for Mines & Petroleum, the Hon Sean L’Estrange MLA.

Doray Minerals Limited has officially opened its 100%‐owned Deflector Gold Project located 160kms east of Geraldton in Western Australia.

The Minister for Mines & Petroleum, the Hon Sean L’Estrange MLA, officiated the ceremony on Wednesday 26 October 2016 to mark the important milestone in Doray’s history – the second high‐grade gold project it has funded, developed and commissioned within four years and less than three years since the opening of the Andy Well Gold Project.

Doray’s Managing Director, Mr Allan Kelly, thanked the Minister and acknowledged the various people involved in achieving the milestone.

“The introduction of Deflector into our operating portfolio will be transformational for the Company and we wouldn’t be celebrating this achievement today, once again delivered on‐time and under budget, without the sustained efforts of our staff, contractors and consultants, and the support of shareholders over the last few years,” said Mr Kelly.

Doray funded, built and commissioned Deflector within 14 months of the acquisition of the Project, culminating in a first gold pour in May and a first shipment of concentrate to its off‐take partner at the end of June.

“The team accomplished this while continuing production at Andy Well and maintaining an active exploration programme across the Company’s exploration portfolio.

“When combined with Andy Well, Deflector is expected to significantly increase our annual production, provide a lower average cost profile with increased operating margins and almost double our mine life,” said Mr Kelly.

Mr Kelly said Deflector was currently in a ramp‐up phase and was progressing through the orebody’s oxide and transitional levels before reaching the primary underground ore in early 2017.

“Doray’s successful history of bringing new projects into fruition on time, under budget and with an excellent safety track record, means the future is bright as we explore for additional ounces and new projects. Andy Well and Deflector are testament to the team’s skills and expertise as we continue on our aim of building one of Australia’s greatest gold companies.”