Reserves/Resource Statement

Ore Reserves and Mineral Resources

The Ore Reserves and Mineral Resources estimates for Tropicana are updated on an annual basis. AngloGold Ashanti and Independence Group provide full details of these estimates, including the applicable JORC statements, on their websites: www.anglogoldashanti.com and www.igo.com.au.

December 2018 Mineral Resources (100% Project Basis)
Area	Classification	Tonnes (Millions)	Gold (g/t)	Contained Au (Millions oz)
Open Pit	Measured	6.5	1.29	0.27
	Indicated	75.5	1.50	3.64
	Inferred	5.6	1.31	0.24
	Total	87.6	1.47	4.14
Stockpiles	Measured	27.8	0.79	0.70
	Indicated	0.0	0.00	0.00
	Inferred	0.0	0.00	0.00
	Total	27.8	0.79	0.70
Underground	Measured	0.0	0.00	0.00
	Indicated	8.5	4.11	1.12
	Inferred	12.4	4.36	1.73
	Total	20.8	4.26	2.85
Total	Measured	34.3	0.88	0.97
	Indicated	84.0	1.76	4.76
	Inferred	17.9	3.41	1.97
	Total	136.2	1.76	7.70

December 2018 Ore Reserves (100% Project Basis)
Area	Category	Tonnes (Millions)	Gold (g/t)	Contained Au (Millions oz)
Open Pit	Proved	4.2	1.68	0.23
	Probable	43.2	1.94	2.69
	Total	47.4	1.91	2.92
Stockpiles	Proved	15.5	1.01	0.50
Underground	Proved	0.0	0.00	0.00
	Probable	2.7	3.65	0.32
	Total	2.7	3.65	0.32
Total	Proved	19.8	1.15	0.73
	Probable	45.9	2.04	3.01
	Total	65.7	1.77	3.74

The information in this report that relates to Mineral Resources estimates was based on information compiled by Mr Mark Kent, a full-time employee of AngloGold Ashanti Australia Limited, who is a member of the Australasian Institute of Mining and Metallurgy. Mr Kent has sufficient experience relevant to the type and style of mineral deposits under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined in the 2012 edition of the JORC Code. Mr Kent consented to the release of the Mineral Resource estimated, based on the information in the form and context in which it appears in this report.