PATRONUS RESOURCES LIMITED — Capital/Financing Update 2016

Oct 18, 2016

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COMPLETION AND REPAYMENT OF WATERTON LOAN PAVES WAY FOR FEASIBILITY STUDY ON LEONORA GOLD PROJECT

Successful $5M rights issue enables Kin to repay long-standing loan and secure unencumbered ownership of emerging WA gold project

Key Points:

• Repayment of outstanding $1.6M loan completed to Waterton Global Value L.P.

• Kin’s 100 per cent ownership of Leonora Gold Project now completed

• Payment follows recent successful completion of ~$5M rights issue

• Definitive Feasibility Study to commence this quarter in parallel with options study and PreFeasibility Study due by year-end

Kin Mining NL (ASX: KIN or Company) is pleased to announce that it has completed the repayment of the outstanding loan to Waterton Global Value L.P. (‘ Waterton ”) for $1,638,602, taking it to 100 per cent ownership of the Leonora Gold Project in WA.

Waterton Global Value L.P. was the secured creditor from Kin’s successful acquisition of the Leonora Gold Project from the administrator of Navigator Resources Limited in 2014.

Following repayment of the outstanding loan, Kin has executed a Deed of Release with Waterton in relation to security held over the assets of Navigator Mining Pty Ltd, a wholly-owned subsidiary of Kin.

The repayment of the Waterton loan follows the recent successful completion of Kin’s $5 million rights issue, which was underwritten by independent Sydney-based advisory and investment firm, Kamara Group.

Kin Executive Director, Trevor Dixon said the completion and repayment of the Waterton loan ahead of schedule was a significant milestone for the Company.

“This means we can now move forward with the development of the Leonora Gold Project with the assets unencumbered,” he said.

“I would like to take this opportunity to thank our shareholders for their support of the rights issue, which was completed earlier this month. The proceeds have allowed us to make this final payment and secure 100 per cent ownership of a high quality West Australian gold asset which is now moving rapidly towards development.

“With the Pre-Feasibility Study well advanced and on track for completion before year-end, we are now preparing to commence the Definitive Feasibility Study on the Leonora Gold Project.”

ASX Code: KIN

“Our timetable sees us delivering the DFS and securing funding in the first half of next year, with construction targeted to commence around mid-year and gold production targeted to begin in 2018,” Mr Dixon said.

“That would put us on track to become a significant new mid-tier Australian gold producer over the next 18 months, unlocking the significant value of the Leonora gold field for our shareholders,” he said.

For further information, please contact:

Investor inquiries:

Trevor Dixon Joe Graziano Executive Director Director/Company Secretary Kin Mining NL Kin Mining NL +61 8 9242 2227 +61 8 9242 2227

Media inquiries:

Paul Armstrong / Nicholas Read Read Corporate +61 8 9388 1474 +61 421 619 084 / +61 419 929 046

About Kin Mining NL

Kin Mining (ASX: KIN) is an emerging gold development company with a significant tenement portfolio in the Eastern Goldfields of Western Australia. Through exploration success and selective acquisition, the Company aims to become a profitable, high-margin Australian gold producer. The immediate focus of the Company is completing an updated pre-feasibility study at its flagship Leonora Gold Project (100%), containing a JORC resource of 722koz, by the end of the calendar year.

Kin’s exploration is targeting near-mine and prospects within the transport corridor linking further discovery to a proposed independent processing plant located at the Leonora Gold Project.

Directors:

Terry Grammer Trevor Dixon Fritz Fitton Joe Graziano Chairman Executive Director Technical Director Non-Exec Director & Co. Sec. Contact:

Office

Post Level 1, 342 Scarborough Beach Road PO Box 565 Osborne Park, Western Australia 6017 Mt Hawthorn, Western Australia 6915 T: 08 9242 2227 E : info@kinmining.com.au ACN: 150 597 541

Web: www.kinmining.com.au

SHARES on Issue: 113,328,614 Unlisted Options: 13,775,000

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