Silver Lake Resources Limited announced production and sales results for the fourth quarter and for the full year 2017. For the quarter, the company produced 34,206 ounces of gold. Total ore mine production was 389,327 tonnes at 3.4 g/t for 43,038 ounces.

For the full year, the company produced 135,837 ounces of gold. Total ore mined was 1,306,508 tonnes at 3.5 g/t mine grade.

For the quarter, the company reported gold sales of 34,382 ounces at an average price of AUD 1,661/oz

For the year, the company reported gold sales of 137,000 ounces

Provided Guidance for the full year 2018. The company expects gold production of 68,898 ounces. The gold sales expected to be 68,704 ounces. second half full year 2018 mine production of 85,835 ounces exceeded plan by 16%. 23% increase in ounces at Maxwells. Scheduled capital development for full year 2018 is largely complete with multiple stoping horizons accessible in second half 2018. Accelerated stripping at Imperial during the quarter now provides access to higher grade ore blocks at a reduced strip ratio in third quarter 2018. Quarterly AISC of AUD 1,430/oz (first quarter 2018: AUD 1,344/oz) consistent with second half full year 2018 cost guidance, reflecting increased underground mine development and accelerated stripping activity at Imperial. Full year cost guidance maintained at AUD 1,350/oz. Well positioned to meet the upper end of full year 2018 gold sales guidance of 135,000 to 145,000 ounces Cash and bullion of AUD 66.7 million, listed investments of AUD 11.7 million and nil bank debt at 31 December; Strong cash flow generation expected in second half full year 2018.

Provides production mining and exportation update. Underground production from the Daisy and Mount Belches (Maxwells and Cock-eyed Bob) mining centres increased 8% in the December quarter with increased production reflecting capital investment over the past six months. The establishment of the Mount Belches underground mining centre broadens the high-grade ore profile at Mount Monger, providing access to shallow, high grade underground ore sources in addition to the established high-grade baseload from the Daisy Complex. The Daisy Complex produced 82,708 tonnes at 6.1 g/t Au for 16,283 contained ounces and again demonstrated the consistent cornerstone contribution to the Mount Monger production base. Production from Maxwells underground totalled 48,842 tonnes at 4.6 g/t Au for 7,267 contained ounces, a 23% quarter on quarter increase as the mine begins to reach consistent targeted output levels. second half full year18 development of 2,861 metres exceeded plan with the majority of capital development for full year 2018 completed. Construction of all surface facilities to service the Mount Belches mining centre has been completed with power distribution, primary ventilation installations, office compound and workshop facilities all operational. December quarter open pit production totalled 247,483 tonnes at 2.3 g/t Au for 18,296 contained ounces. Mining operations were focused on the high-grade Imperial pit which produced 122,103 tonnes at 3.0 g/t Au for 11,810 contained ounces. Mining activities were accelerated during the quarter to bring forward the completion of open pit mining at the Imperial/Majestic mining centre, reducing fixed costs and building ore stockpiles which will be consumed during the development of the Aldiss mining centre. Mining operations at the Majestic West pit (125,380 tonnes at 1.61 g/t Au for 6,486 contained ounces) are due for completion in early third quarter 2018. The exploration updates are continued progress from five high priority exploration work programs, strong infill and extensional drilling results at Daisy Complex, 2.13m @ 153 g/t Au from Haoma West, broad, high grade gold intersections from Karonie South resource infill drilling deposit as part of the Aldiss development project, 2.34m @ 52.1 g/t Au and 4.89m @ 17.7 g/t Au in open pit target, strongly mineralised intersections from Resource depth extension drilling at Majestic, 1.37m @ 41.3 g/t Au and 2.32m @ 19.5 g/t Au below the pit floor, during Second Quarter full year 2018, Silver Lake invested AUD 3.6 million as it continued the higher priority work programs that form part of the AUD 12 million full year 2018 exploration program. Work programs comprised 15,073 metres of drilling. Key areas of focus included, underground resource definition diamond drilling at the Daisy Complex, underground exploration drilling targeting the new Easter Hollows lode, surface exploration drilling at Mount Belches, Aldiss, Majestic/Imperial, and Daisy mining centres Resource definition drilling at Karonie South.