KINGSTON RESOURCES LIMITED — Capital/Financing Update 2015

Jan 26, 2015

ASX: KSN

KINGSTON RESOURCES LIMITED

ACN 009 148 529

27 January 2015

Company Announcements Office Australian Securities Exchange

Kingston Executes Farm In Agreement for Orbost Project in Victoria

• Farm In Agreement expands Kingston’s portfolio of South Australian Copper based projects into Victoria.

• The Orbost project is considered prospective with an opportunity to follow up potential small tonnage high grade mineralisation identified at McDougall’s historic prospecting shafts previously inaccessible until after the recent bushfires through the area known as Copper Ore Creek within Orbost EL 4933.

• An application for funding under Victorian Target Minerals Exploration Initiative at Orbost has recently been submitted.

Kingston Resources Limited (ASX: KSN) (“Kingston”) has executed a Farm In Agreement with Dakota Minerals Limited for the Orbost Project EL 4933 in eastern Victoria.

Key Terms of the Agreement are as follows:

• 1 KSN will earn a 40% interest by undertaking surface mapping and sampling to further define the size and orientation of the Cu mineralisation and drilling 2 holes to test the potential of the target and the geophysical conductor.

• 2 By the expenditure of a further A$1million, KSN can earn a further 40% interest.

A summary of the Orbost project is contained in the following presentation as submitted to the Victorian Government as part of an application for funding under its Target Minerals Exploration Initiative. There is no assurance that the application will be successful.

ENDS.

25 – 27 Jewell Parade, North Fremantle, Western Australia 6159 t +61 8 9336 6619 w www.kingstonresources.com.au e info@kingstonresources.com.au

Kingston Resources Limited

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Australia-Wide Copper Projects

 Australia is still a global “safe haven” for future mineral project development  Focus on copper “hotspots”  Focus on small tonnage, high grade deposits (e.g. 5-10Mt @>1.5% Cu with Au credits) Dakota’s Orbost project area Copper occurrences Sourced from Geoscience Australia “OZMIN” data & state government databases, USGS, Mudd 2013.

Sourced from Footprint Resources Pty Ltd presentation.

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Victoria TARGET Initiative

 Location

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Dakota’s Orbost
Project Area
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• Application submitted to Victorian “Target” Minerals Exploration Initiative

• Known porphyry Cu prospects associated with “Macquarie Arc Derivatives” region

• Australia-wide and

Victorian geoscince data packages used for target generation

(e.g. tomography, gravity, magnetics, radiometrics, government mapping, geochemistry, historical reports)

• There is no assurances that the Application will be successful

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Genetic Model-McDougall’s

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Targeting low tonnage, high grade Cu-Au mineralisation at McDougall’s

• Breccia pipe or lode style Cu, marginal to intrusives

McDougall’s hydrothermal breccia >3% Cu. Qtz-cb-cpy-py

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McDougall’s-Magnetics RTP

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Intrusive-sediment contact
Sunday Ck
Low grade
porphyry Cu
prospect Tonalite
McDougall’s hydrothermal
breccia >3% Cu. Qtz-cb-cpy-py
Rock chips (Cu%)
McDougall’s
high grade Cu
Soils (Cu ppm)
veins and
breccias.
400m strike
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McDougall’s-HeliTEM Ch20

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 Targeting mid-
time EM
conductor
(sulphides?)
within E-W
400m
striking Cu
corridor 400m
long and up to
100m wide
Area for
follow-up
mapping and 100m
surface
sampling.
Rock chips (Cu%)
Potential diamond
drill hole locations
McDougall’s hydrothermal breccia
>3% Cu. Qtz-cb-cpy-py
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Summary

• McDougall’s Cu-Au target has potential for small tonnage high grade mineralisation

• No historical drilling

• Very limited historical surface sampling and mapping of old workings

• Coincident mid-time EM conductor associated with Cu rich chips >400m long and >100m wide

• Field mapping and surface sampling planned for early Q2 2015.

• Drilling planned for 2015 pending results of surface work.

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Disclaimer

This presentation has been prepared by Dakota Minerals Limited (DKO or the Company). It contains general information about the Company’s activities current as at the date of the presentation. The information is provided in summary form and does not purport to be complete. This presentation is not to be distributed (nor taken to have been distributed) to any person in any jurisdictions to whom an offer or solicitation to buy shares in the Company would be unlawful. Any recipient of the presentation should observe any such restrictions on the distribution of this presentation and warrants to the Company that the receipt of the presentation is not unlawful. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation or any information, opinions or conclusions expressed in the course of this presentation.

This presentation is not a prospectus, product disclosure document or other offering document under Australian law or under any other law. It has been prepared for information purposes only. This presentation contains general summary information and does not take account the investment objectives, financial situation and particular needs of any individual investor. It is not financial product advice and investors should obtain their own independent advice from qualified financial advisors having regards to their objectives, financial situation and needs Neither DKO nor any of their related bodies corporate is licensed to provide financial product advice. This presentation and information, opinions or conclusions expressed in the course of this presentation contains forecasts and forward looking information. Such forecasts, projections and information are not a guarantee of future performance, involve unknown risks and uncertainties. Actual results and developments will almost certainly differ materially from those expressed or implied.

There are a number of risks, both specific to DKO and of a general nature which may affect the future operating and financial performance of DKO and the value of an investment in DKO. You should not act or refrain from acting in in reliance on this presentation, or any information, opinions or conclusions expressed in the course of this presentation. This presentation does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of the prospects of DKO. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision. Recipients of this presentation must undertake their own due diligence and make their own assumptions in respect of the information contained in this presentation and should obtain independent professional advice before making any investment decision based on this information. No representation or warranty, express or implied, is made in relation to the fairness, accuracy or completeness of the information, opinions and conclusions expressed in the course of this presentation. To the maximum extent permitted by law, no representation warranty, express or implied, is made and to the maximum extent permitted by law, no responsibility or liability is accepted by the Company or any of its officers, employees, agents or consultants or any other person as to the adequacy, accuracy, completeness or reasonableness of the information in this presentation. To the maximum extent permitted by law, no responsibility for any errors or omissions from this presentation whether arising out of negligence or otherwise is accepted. An investment in the shares is to be considered speculative.

This presentation and information, opinions and conclusions expressed in the course of this presentation should be read in conjunction with DKOs other periodic and continuous disclosure announcements lodged with the ASX.

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Competent Person Statement

The information in this presentation that relates to results of geophysical exploration is based upon information compiled by Mr Barry Bourne, who is employed as a Consultant to the Company through geophysical consultancy Terra Resources Pty Ltd. Mr Bourne is a fellow of the Australian Institute of Geoscientists and a member of the Australian Society of Exploration Geophysicists. He has proper and relevant experience with the styles of mineralisation as well as the kinds of mineral deposits under consideration and activities undertaken. This is sufficient to qualify him as a “Competent Person” as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Bourne consents to the inclusion in the presentation of matters based on information in the form and context in which it appears.

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JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling	• Nature and quality of sampling (eg cut channels, random chips, or	• Rock chip samples were taken from in situ hydrothermal breccia and
techniques	specific specialised industry standard measurement tools appropriate	float at the McDougall’s project by Dakota Minerals Limited (“DKO” in
	to the minerals under investigation, such as down hole gamma	2014 following up rock samples obtained from the Department of
	sondes, or handheld XRF instruments, etc). These examples should	Primary Industries assay results.
	not be taken as limiting the broad meaning of sampling.
	• Include reference to measures taken to ensure sample representivity
	and the appropriate calibration of any measurement tools or systems
	used.
	• Aspects of the determination of mineralisation that are Material to the
	Public Report.
	• In cases where ‘industry standard’ work has been done this would be
	relatively simple (eg ‘reverse circulation drilling was used to obtain 1
	m samples from which 3 kg was pulverised to produce a 30 g charge
	for fire assay’). In other cases more explanation may be required,
	such as where there is coarse gold that has inherent sampling
	problems. Unusual commodities or mineralisation types (eg
	submarine nodules) may warrant disclosure of detailed information.
Drilling	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air	•Not applicable, no drilling at McDougall’s
techniques	blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple
	or standard tube, depth of diamond tails, face-sampling bit or other
	_type, whether core is oriented and if so, by what method, etc). _
Drill sample	• Method of recording and assessing core and chip sample recoveries	•Not applicable, no drilling at McDougall’s
recovery	and results assessed.
	• Measures taken to maximise sample recovery and ensure
	representative nature of the samples.
	• Whether a relationship exists between sample recovery and grade
	and whether sample bias may have occurred due to preferential
	loss/gain of fine/coarse material.
Logging	• Whether core and chip samples have been geologically and	•Not applicable, no drilling at McDougall’s
	geotechnically logged to a level of detail to support appropriate

Criteria	JORC Code explanation	Commentary
	Mineral Resource estimation, mining studies and metallurgical
	studies.
	• Whether logging is qualitative or quantitative in nature. Core (or
	costean, channel, etc) photography.
	• The total length andpercentage of the relevant intersections logged.
Sub-sampling	• If core, whether cut or sawn and whether quarter, half or all core	•Rock chip samples were taken from in situ hydrothermal breccia and
techniques and	taken.	float.
sample	• If non-core, whether riffled, tube sampled, rotary split, etc and
preparation	whether sampled wet or dry.
	• For all sample types, the nature, quality and appropriateness of the
	sample preparation technique.
	• Quality control procedures adopted for all sub-sampling stages to
	maximise representivity of samples.
	• Measures taken to ensure that the sampling is representative of the in
	situ material collected, including for instance results for field
	duplicate/second-half sampling.
	• Whether sample sizes are appropriate to the grain size of the material
	being sampled.
Quality of	• The nature, quality and appropriateness of the assaying and	•Rock samples collected by DKO were pulverised and subjected to a 4
assay data and	laboratory procedures used and whether the technique is considered	acid digest and analysis by a low level detection method of 61
laboratory	partial or total.	elements ICP-MS & ICP-OES Package (4A-ICPMS-MA40MS MA40-
tests	• For geophysical tools, spectrometers, handheld XRF instruments, etc,	OES) at Bureau Veritas Minerals Pty Ltd in South Australia
	the parameters used in determining the analysis including instrument	•Two standards were used for our in house QAQC policy and the
	make and model, reading times, calibrations factors applied and their	laboratory undertook duplicate, repeat and further standard testing.
	derivation, etc.
	• Nature of quality control procedures adopted (eg standards, blanks,
	duplicates, external laboratory checks) and whether acceptable levels
	of accuracy (ie lack of bias) andprecision have been established.
Verification of	• The verification of significant intersections by either independent or	•Not applicable, no drilling at McDougall’s
sampling and	alternative company personnel.
assaying	• The use of twinned holes.
	• Documentation of primary data, data entry procedures, data
	verification, data storage (physical and electronic) protocols.
	• Discuss any adjustment to assay data.

Criteria	JORC Code explanation	Commentary
Location of	• Accuracy and quality of surveys used to locate drill holes (collar and	• Hand held GPS used to locate sample points.
data points	down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used.	• Projection MGA94 Zone 55. • Accuracy expected within +/-5m.
	• Quality and adequacy of topographic control.
Data spacing	• Data spacing for reporting of Exploration Results.	•Not applicable, random reconnaissance sampling to detect if
and	• Whether the data spacing and distribution is sufficient to establish the	structures contain gold, base metals and strategic metals. Any future
distribution	degree of geological and grade continuity appropriate for the Mineral	sampling programmes will consist of a grids along and around
	Resource and Ore Reserve estimation procedure(s) and	structures.
	classifications applied.
	• Whether sample compositing has been applied.
Orientation of	• Whether the orientation of sampling achieves unbiased sampling of	•Surface structural measurements were recorded.
data in relation	possible structures and the extent to which this is known, considering
to geological	the deposit type.
structure	• If the relationship between the drilling orientation and the orientation
	of key mineralised structures is considered to have introduced a
	sampling bias, this should be assessed and reported if material.
Sample	• The measures taken to ensure sample security.	•Samples assayed were collected, transport and packed by DKO’s
security		geologist; the laboratory also handled the samples.
Audits or	• The results of any audits or reviews of sampling techniques and data.	•In house QAQC conducted on samples.
reviews

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral	• Type, reference name/number, location and ownership including	•EL 4933.
tenement and	agreements or material issues with third parties such as joint	•Held 100% by Dakota Minerals limited.
land tenure	ventures, partnerships, overriding royalties, native title interests,	•No known impediments to exploration in the granted area.
status	historical sites, wilderness or national park and environmental settings.	•The tenement covers 458 Km2 approximately 20km north of Orbost with an expiry date of August 2016.
	• The security of the tenure held at the time of reporting along with any
	known impediments to obtaining a licence to operate in the area.

Criteria	JORC Code explanation	Commentary
Exploration	• Acknowledgment and appraisal of exploration by other parties.	•Historical work has been summarised in the DKO 2013 Annual
done by other		Report including the HeliTEM data in the presentation attached to this
parties		announcement.
		•The EL has been historically explored for narrow vein gold and
		porphyry copper deposits, however very little modern exploration has
		been undertaken. DKO are currently assessing the metallogenic
		framework and exploration potential of the area.
Geology	• Deposit type, geological setting and style of mineralisation.	• Ordovician sediments intruded by Silurian to Devonian modal
		magmatism. The tectonic history of the area is currently being
		reviewed and conceptualised by the Geological Survey of Victoria
		• Currently assessing for porphyry copper, orogenic gold, intrusion
		related gold and tungsten – molybdenum – tin strategic metal
		systems.
Drill hole	• A summary of all information material to the understanding of the	•Not applicable, no drilling at McDougall’s
Information	exploration results including a tabulation of the following information
	for all Material drill holes:
	o easting and northing of the drill hole collar
	o elevation or RL (Reduced Level – elevation above sea level in
	metres) of the drill hole collar
	o dip and azimuth of the hole
	o down hole length and interception depth
	o hole length.
	• If the exclusion of this information is justified on the basis that the
	information is not Material and this exclusion does not detract from
	the understanding of the report, the Competent Person should clearly
	explain why this is the case.
Data	• In reporting Exploration Results, weighting averaging techniques,	•Not applicable, no drilling at McDougall’s
aggregation	maximum and/or minimum grade truncations (eg cutting of high
methods	grades) and cut-off grades are usually Material and should be stated.
	• Where aggregate intercepts incorporate short lengths of high grade
	results and longer lengths of low grade results, the procedure used
	for such aggregation should be stated and some typical examples of
	such aggregations should be shown in detail.
	• The assumptions used for any reporting of metal equivalent values
	should be clearly stated.

Criteria	JORC Code explanation	Commentary
Relationship	• These relationships are particularly important in the reporting of	•Not applicable, no drilling at McDougall’s
between	Exploration Results.
mineralisation	• If the geometry of the mineralisation with respect to the drill hole
widths and	angle is known, its nature should be reported.
intercept	• If it is not known and only the down hole lengths are reported, there
lengths	should be a clear statement to this effect (eg ‘down hole length, true
	_width not known’). _
Diagrams	• Appropriate maps and sections (with scales) and tabulations of	• Refer to presentation in announcement dated 27 January 2014.
	intercepts should be included for any significant discovery being
	reported These should include, but not be limited to a plan view of
	drill hole collar locations and appropriate sectional views.
Balanced	• Where comprehensive reporting of all Exploration Results is not	•The company doesn’t consider, given the sampling context of the
reporting	practicable, representative reporting of both low and high grades	current results to be of such material importance that a detailed
	and/or widths should be practiced to avoid misleading reporting of	reporting is warranted.
	Exploration Results.
Other	• Other exploration data, if meaningful and material, should be reported	• Other data present in this report was obtained from the Geological
substantive	including (but not limited to): geological observations; geophysical	Survey of Victoria, Mineral Incentive reports as indicated in this
exploration	survey results; geochemical survey results; bulk samples – size and	document.
data	method of treatment; metallurgical test results; bulk density,
	groundwater, geotechnical and rock characteristics; potential
	deleterious or contaminating substances.
Further work	• The nature and scale of planned further work (eg tests for lateral	•Further sampling, mapping, and geophysical modelling is currently
	extensions or depth extensions or large-scale step-out drilling).	being considered.
	• Diagrams clearly highlighting the areas of possible extensions,
	including the main geological interpretations and future drilling areas,
	provided this information is not commercially sensitive.