PATRONUS RESOURCES LIMITED — Capital/Financing Update 2014

Nov 2, 2014

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ASX Code: KIN
Company Update
3 November 2014
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Exploration Update - Kingfisher

Board of Directors

Terry Grammer Chairman

Trevor Dixon Managing Director

Fritz Fitton

Technical Director

Joe Graziano

Non-Executive Director & Company Secretary

Contact Details

Office

342 Scarborough Beach Road Osborne Park Western Australia 6017

Phone

08 9242 2227

Fax

08 9242 1277

Email

info@kinmining.com.au

Website

www.kinmining.com.au

Shares on Issue: 43,352,850 (KIN)

Options on Issue: 19,362,512 at $0.30 Expiring 31 January 2015

ASX: KIN

HIGHLIGHTS

• The first two of three (+250m) RC drill holes have been conducted at Kingfisher on tenement M40/330.

• Conductor target KFC2 south has been drill tested by KF14RC001 to 319m and by KF14RC002 to 247m (vertical) returning a +10m section of intensely sheared ultramafic schist preceded by a wide zone (30m) of disseminated sulphides with quartz carbonate stringers (2%) above the prospective brecciated basal contact in the first drill hole.

• In KF14RC002 intense silica and carbonate alteration with semi-massive (15% pyrrhotite and 10% pyrite) 240-241m, hole depth now 247m.

• RC drilling continues to step out at 100m spacing (south) KF14RC002 and 400m (north) KF14RC003 targeting strike extensions of the mineralised basal ultramafic contact.

Kin Mining NL(ASX:KIN) is pleased to advise that it continues drilling at the Kingfisher Prospect, the first two of three RC drill holes centred on the peak KFC2 electromagnetic response, targeting KFC2 (south) are approaching completion. Drilling continues to advance targeting the KFC2 (north) conductor at depth (ASX announcement 22[nd] October 2014).

Results are regarded as positive with the response from a recently completed MLEM survey indicating continuation of the identified bedrock conductor, KFC2 south, along strike and at depth (plotted as KFC2 north – Figure 1). Geological modelling suggests the mineralised pod is an easterly dipping, north plunging sheet or lens of magmatic sulphide rich Ni-Cu-PGE mineralisation at or close to the base of an ultramafic intrusion.

The programme continues with two holes awaiting completion, spaced 400m north and 100m south of the initial drill hole, centred on line 6784200mN, the remaining drill hole is planned to test the strike extensions of the identified magmatic base metal mineralisation further north and at depth.

KIN Mining NL ACN 150 597 541

342 Scarborough Beach Road, Osborne Park WA 6017 www.kinmining.com.au

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ASX Code: KIN

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Figure 1 – Proposed RC drill hole locations (KFC2 south/north) over TMI magnetic image with historical drill hole data

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ASX Code: KIN

Additional follow up drilling of other known conductors; KFC2 north and KFC1 are proposed pending initial assay results from the first three drill holes.

Samples from the first 240m of KF14RC001 have been dispatched to the assay laboratory and preliminary results are expected later this week.

KFC2 (north) is interpreted to represent the KFC2 (south) conductor at depth.

Drill holes are planned to be tested with down hole EM geophysics to confirm that the KFC2 conductor has been intersected by the drill holes.

Details of the initial (three hole) drill programme are set out in the following table.

Table 1 - RC drill hole details, KIN RC holes targeting MLEM conductor KFC2

East(MGA)	North(MGA)	KIN Hole ID	Conductor depth(m)	Status
340340	6784100	KF14RC002	250-255	Current Drillhole
340360	6784200	KF14RC001	255	DrillingCompleted
340770	6784700	KF14RC003	322	Next Target

Corporate

Kin Mining NL advises that it has received a Notice to terminate the Subscription Agreement between Geolord Resources Pty Ltd (“Geolord”) and Kin Mining NL (the Company) dated 18[th] July 2014 on the 1[st] November 2014.

Accordingly the Company advises that it intends to withdraw Resolutions 1 to 4 as set out in the Notice of Annual General Meeting as released by the Company on the 6[th] October 2014 at the Annual General meeting to be held at 11.00am on 3 November 2014 as previously advised. All Proxies received in relation to Resolutions 1 to 4 will be disregarded as a result.

Competent Persons Statement

The information in this report relates to Exploration Results based on information compiled by Paul Maher who is a member of the AusIMM and an employee of the company and fairly represents this information. Mr Maher 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 Australian code for reporting of Exploration Results, Mineral Resources and Ore Reserves. Historical exploration results reported in this document were originally obtained by other companies and sourced from open file WAMEX reports; they have not been independently verified. The original samples are no longer available; assay methodologies vary and have not been subject to current QA/QC protocols. Further details regarding historical drill results can be found on Kin ASX announcements that were reported during the September Quarter. Mr Maher consents to the inclusion in the report of the matters based on information in the form and context in which it appears

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