CAUTIONARY STATEMENT

11/12/2003

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Table of Contents

CAUTIONARY STATEMENT

Global Operations & Projects

Australia – 2003 Forecast Sales

Australia – 2002 Reserves

Australia – 2003 Forecast

Tanami Operations

Tanami Operations - History

Tanami Operations

Tanami – Ounces Produced

Tanami Operations - Statistics

Tanami - Callie Underground

Tanami - Capital Improvements

Tanami – Capital Expenditures (1)

Tanami – Operating Objectives

Tanami – Staffing and Productivity

Tanami - Stakeholder Relations

Tanami Operations - Milling

Granites Mill Productivity (1)

Tanami Mine JV Mill Productivity (1)

Improvements in Safety Performance

Tanami - Gold Deposits

Regional Exploration - Introduction

Regional Exploration – Significant Potential

Regional Exploration Potential

Geology Highlights (1)

Tanami - Callie Underground

Maximizing Upside

Author: Normandy Mining Limited