PATRONUS RESOURCES LIMITED — AGM Information 2021

Aug 4, 2021

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ASX Announcement 5 August 2021

KIN MINING NL 2021 GENERAL MEETING

Chairman’s Address

To be delivered at the Company’s General Meeting to be held at 10am, Thursday 5 August 2021.

Good morning Ladies and Gentlemen and welcome to this General Meeting of Kin Mining NL (Kin).

Thank you for attending Kin’s General Meeting.

Due to the current social distancing requirements we are holding this meeting as a fully virtual meeting and I would like to welcome you all.

Thanks to the continued application of the exploration-driven strategy I outlined last year, we have continued to add significant value to our flagship Cardinia Gold Project (CGP) in Western Australia – growing our resource inventory, making new discoveries, unlocking other value transactions and putting the Company in the best possible position to participate in what we believe will be an inevitable consolidation of assets in the Leonora district.

Much of our success can be attributed to the “back-to-basics” exploration philosophy which has seen our geology team undertake some outstanding work – applying modern geological thinking and drawing on the latest geophysical and remote-sensing techniques to achieve a major leap forward in our geological understanding of the gold-bearing structures at the CGP.

Despite the challenges associated with the recent surge in exploration activity across the WA resources sector – which has seen a significant industry-wide tightening in the market for people, equipment and services – our team has been able to maintain almost continuous drilling activity across the year.

Kin Mining NL 342 Scarborough Beach Road Osborne Park WA 6017 P : +61 9 9242 2227 E info@kinmining.com.au kinmining.com.au

ASX Code: KIN Shares on issue: 799.2 million Market Capitalisation: $116 million Cash: $7.4 million (30 June 2021)

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This is a tremendous achievement, particularly considering that we have maintained an excellent safety record throughout and ensured the continuity of our business against the backdrop of the COVID-19 pandemic, with all of its associated threats and challenges.

During the year, we progressed our Phase 3 resource drilling program at the CGP, completing over 32,500m of drilling in the first half of calendar year 2021 alone. This work was focused on delivering a maiden Mineral Resource Estimate for the exciting Cardinia Hill discovery, while also testing a number of compelling regional targets and conducting extensional and in-fill drilling at the cornerstone Bruno-Lewis deposit.

A highly-successful $12.8 million capital raising was completed in the early part of this calendar year through a strongly-supported Placement and Share Purchase Plan. This enabled us to push ahead seamlessly with the completion of the Phase 3 drilling and the start of our Phase 4 exploration program.

Our exploration endeavours during the year underpinned a project-wide Mineral Resource update to 1.15 million ounces in December, and then a further update to 1.23 million ounces in April this year. Importantly, the higher-confidence Measured and Indicated components of the Mineral Resource estimate increased by 15% to 17 million tonnes at 1.39g/t for 762,000oz of contained ounces of gold.

As a result of the successful programs completed in the first half of the year, we expect to announce a further Mineral Resource update in the September 2021 Quarter.

We believe that high-quality Resource inventory, located in the heart of the Tier-1 Leonora-Laverton region – together with the untapped exploration upside within our large 657 square kilometre strategic ground-holding – will ultimately be the key drivers of value for our shareholders.

In this regard, in July we welcomed ASX-200 listed gold miner, St Barbara Limited as a new significant shareholder with a 19.79 per cent holding, acquired from one of our founding shareholders, Harmanis Holdings.

St Barbara is a well-regarded Australian-based gold producer with operations located just 40km from the CGP. Their Leonora Province Operations include the Gwalia underground mine and 1.2Mtpa processing facility, located within economic haulage distance of all our main deposits.

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We are very much looking forward to working with St Barbara to further grow the Cardinia Gold Project. We can understand the strategic interest of St. Barbara in our company, given our extensive Mineral Resource, exploration potential, and commercial proximity to their Gwalia Operations and welcome them as a supportive strategic investor. We also see other surrounding potential partners with processing operations within our area and remain focused on the best commercial solution for all partners involved, not least of which are our longstanding shareholders.

In closing, the past 12 months have laid the foundations for Kin Mining to move to the next level at the CGP, with the expected delivery of successive Mineral Resource updates over the course of FY2022, as well as ongoing drilling to deliver new near-mine and regional discoveries in the Leonora district.

These programs will underpin the Company’s transition from explorer to developer and ultimately to gold producer.

Your Directors and Management are excited for what the future will bring by way of further exploration success and development opportunities and we continue to strive for success in the growth of our business.

Yours sincerely Joe Graziano.

-ENDS-

Authorised for Release by the Company Secretary

For further information, please contact:

Investor enquiries

Media enquiries

Andrew Munckton Managing Director, Kin Mining NL +61 8 9242 2227

Nicholas Read Read Corporate +61 419 929 046

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ABOUT KIN MINING NL

Kin Mining NL (ASX: KIN) is a West Australian based gold development and exploration company. Kin’s key focus is its 100% owned Cardinia Gold Project (CGP) located in the highly prospective North-Eastern Goldfields region of Western Australia. The CGP has a 1.23Moz gold Mineral Resource (see Table A1) defined in both oxide and deeper primary mineralisation with considerable potential to grow this resource with further drilling.

Kin’s exploration effort is the systematic program of exploration across the Cardinia Mining Centre that seeks to advance a number of targets in parallel while developing a pipeline of exploration targets for ongoing Mineral Resource expansion.

Table A1. Mineral Resource Estimate Table May 2021[1]

				Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021
	Project Area	Resource Gold Price (AUD)	Lower Cut off (g/t Au)	Measured Resources			Indicated Resources			Inferred Resources			Total Resources			Date Announced
				Tonnes (Mt)	Au (g/t Au)	Au (k Oz)	Tonnes (Mt)	Au (g/t Au)	Au (k Oz)	Tonnes (Mt)	Au (g/t Au)	Au (k Oz)	Tonnes (Mt)	Au (g/t Au)	Au (k Oz)
	Mertondale
	Mertons Reward	$2,600	0.4				0.9	2.17	66	1.9	0.65	41	2.9	1.15	106	26-Nov-20
	Mertondale 3-4	$2,600	0.4				1.4	1.85	81	1.0	0.97	31	2.3	1.48	111	26-Nov-20
	Tonto	$2,600	0.4				1.8	1.14	67	1.1	1.24	43	2.9	1.18	111	26-Nov-20
	Mertondale 5	$2,600	0.4				0.5	1.67	26	0.8	1.24	32	1.3	1.40	59	26-Nov-20
	Eclipse	$2,600	0.4							0.6	1.01	19	0.6	1.01	19	26-Nov-20
	Quicksilver	$2,600	0.4							1.1	1.10	39	1.1	1.10	39	26-Nov-20
	Subtotal Mertondale						4.6	1.61	240	6.5	0.98	205	11.1	1.24	445
	Cardinia
	Bruno*	$2,600	0.4	0.3	1.26	10	2.8	1.13	102	1.1	1.05	36	4.1	1.12	148	10-May-21
	Lewis*	$2,600	0.4	0.6	1.24	20	4.7	1.00	151	2.1	0.80	55	7.4	0.95	226	10-May-21
	Kyte	$2,600	0.4				0.3	1.53	17	0.1	0.92	3	0.4	1.38	20	26-Nov-20
	Helens	$2,600	0.4				0.7	2.14	50	0.3	1.94	19	1.0	2.08	69	26-Nov-20
	Fiona	$2,600	0.4				0.6	1.35	25	0.2	1.21	8	0.8	1.32	32	26-Nov-20
	Rangoon	$2,600	0.4				0.5	1.24	21	0.3	1.07	12	0.9	1.17	32	26-Nov-20
	Hobby*	$2,600	0.4							0.5	1.31	22	0.5	1.31	22	10-May-21
	Cardinia Hill*	$2,600	0.4							1.2	1.66	61	1.2	1.66	61	18-Dec-20
	Subtotal Cardinia			0.8	1.16	30	9.6	1.18	364	5.8	1.15	216	16.3	1.17	611
	Raeside
	Michaelangelo	$2,600	0.4				1.1	2.00	73	0.4	2.19	25	1.5	2.04	98	26-Nov-20
	Leonardo	$2,600	0.4				0.4	2.39	30	0.2	2.20	14	0.6	2.32	44	26-Nov-20
	Forgotten Four	$2,600	0.4				0.1	2.09	7	0.1	1.96	6	0.2	2.03	14	26-Nov-20
	Krang	$2,600	0.4				0.3	1.74	17	0.0	2.59	2	0.3	1.80	19	26-Nov-20
	Subtotal Raeside						2.0	2.04	128	0.7	2.17	47	2.6	2.07	175
	TOTAL			0.8	1.16	30	16.2	1.41	732	13.0	1.12	468	30.0	1.28	1231

Table A1: Mineral Resource Estimate Table May 2021. Mineral Resources estimated by Jamie Logan, and Mike Millad and reported in accordance with JORC 2012 using a 0.4g/t Au cut-off within AUD2,600 optimisation shells. Note BrunoLewis, Cardinia Hill and Hobby estimated by Mike Millad of Cube Consulting.

1The company confirms that it is not aware of any new information or data that materially affects the information included in the ASX Announcement of 17 May 2021 “Cardinia Gold Project Mineral Resource Increases to 1.23Moz”, and that all material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed.

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COMPETENT PERSON’S STATEMENT

The information contained in this report relating to exploration results relates to information compiled or reviewed by Glenn Grayson. Mr. Grayson is a member of the Australasian Institute of Mining and Metallurgy and is a full-time employee of the company. Mr. Grayson has sufficient experience of relevance to the styles of mineralisation and the types of deposit under consideration, and to the activities undertaken to qualify as a Competent Person as defined in the 2012 edition of the JORC “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".

Mr. Grayson consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

FORWARD-LOOKING STATEMENTS

This release contains “forward-looking information” that is based on the Company’s expectations, estimates and projections as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to the feasibility and definitive feasibility studies, the Company’s’ business strategy, plan, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, mineral reserves and resources, results of exploration and operational expenses. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as ‘outlook’, ‘anticipate’, ‘project’, ‘target’, ‘likely’,’ believe’, ’estimate’,

‘expect’, ’intend’, ’may’, ’would’, ’could’, ’should’, ’scheduled’, ’will’, ’plan’, ’forecast’, ’evolve’ and similar expressions. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to the risk factors set out in the Company’s Prospectus dated October 2014.

This list is not exhausted of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intent or obligations to revise any forward-looking statements whether as a result of new information, estimates, or options, future events or results or otherwise, unless required to do so by law. Statements regarding plans with respect to the Company’s mineral properties may contain forward-looking statements in relation to future matters that can be only made where the Company has a reasonable basis for making those statements. This announcement has been prepared in compliance with the JORC Code 2012 Edition and the current ASX Listing Rules. The Company believes that it has a reasonable basis for making the forward-looking statements in this announcement, including with respect to any mining of mineralised material, modifying factors and production targets and financial forecasts.

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