Name of the Project
15-Mile processing hub project.

Location
Nova Scotia, Canada.

Project Owner/Sponsor
Australia-based gold producer and explorer St Barbara Limited.

Project Description
The project entails the redevelopment of three historical gold mining sites in Nova Scotia – the 15-Mile mine, the Old Austen mine and the Old Mitchell mine. The 15-Mile Mine will be developed as the central processing hub, with ore also to be supplied from the Old Austen and Old Mitchell mines.

The project has been substantially redesigned to incorporate feedback from First Nation communities, local stakeholders, regulators and environmental experts. The redesign has reduced the planned disturbance footprint by about 23% at 15-Mile, 43% at Old Austen and 55% at Old Mitchell. The revised plan also includes the remediation of historic tailings impacts, reduced impacts on wetlands and watersheds, and a revised approach to potentially acid-generating waste rock.

The 15-Mile site will comprise four openpits, a processing plant reusing components of the Touquoy facility, and associated infrastructure, including a tailings management facility. A larger ball mill and new leach tanks are included. 

The Old Austen and Old Mitchell mines are planned as quarry-style openpit projects, with no on-site processing, no tailings management facilities and no surface water extraction. Ore from both mines will be transported to the 15-Mile processing plant.

The September 2026 updated prefeasibility study (PFS) outlines a processing rate of three-million tonnes a year, average gold production of 106 000 oz/y and a 13-year mine life, based only on proven and probable ore reserves. Life-of-mine (LoM) recovered gold is estimated at 1.38-million ounces.

Ore reserves total 38.7-million tonnes grading 1.2 g/t gold, containing 1.44-million ounces. 

Potential Job Creation
The project is expected to create an estimated 1 386 jobs during construction and about 740 jobs during operations.

Net Present Value/Internal Rate of Return
At $3 000/oz gold, the September 2026 updated study estimates an after-tax net present value (NPV), at a 5% discount rate, of C$1.565-billion and an internal rate of return of 81.6%, with a one-year initial capital payback. 

Capital Expenditure
Initial capital is estimated at C$289-million, compared with C$283-million in January 2026, with an accuracy range of ±25%.

LoM sustaining and expansion capital are C$234-million and C$169-million respectively. 

Planned Start/End Date
The feasibility study is targeted for March 2027, brought forward from June 2027. The final investment decision remains targeted for June 2027, with production planned from the 2030 financial (July 2029 to June 2030), subject to approvals and project development.

Latest Developments
St Barbara announced the updated PFS on September 28, 2026. Compared with January’s PFS, ore reserves increased 17% and after-tax NPV rose about 21%. 

Environmental assessment submission remains scheduled for the March 2027 quarter. Development funding is expected from existing cash, Touquoy restart cash flow and, if required, New Simberi sale proceeds.

Key Contracts, Suppliers and Consultants
Ausenco Engineering Canada (updated PFS lead) and Moose Mountain Technical Services (mine planning). 

Contact Details
St Barbara Limited, tel +61 8 9476 5555 or email info@stbarbara.com.au.