PATRONUS RESOURCES LIMITED — Capital/Financing Update 2016

Aug 4, 2016

info@kinmining.com.au |Tel: 08 9242 2227 |ACN: 150 597 541 342 Scarborough Beach Road, Osborne Park WA 6017

5 August 2016

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ASX Market Announcements ASX Limited 20 Bridge Street SYDNEY NSW 2000

Notification under section 708AA (2)(f) of the Corporations Act 2001 (Cth)

Kin Mining NL ("Company" ) gives notice under section 708AA (2) (f) of the Corporations Act 2001 (Cth) ( "Corporations Act" ) that:

1. The Company will offer approximately 22,620,723 fully paid ordinary shares ( "New Shares" ) for issue without disclosure to shareholders under Part 60.2 of the Corporations Act pursuant to a nonrenounceable pro-rata rights issue announced to ASX on 1 August 2016 ( "Rights Issue" ). Under the Rights Issue eligible shareholders will be entitled to apply for one (1) New Share in the Company for every four (4) shares held at the record date at an issue price of $0.22 per New Share. The Rights Issue will raise approximately $4,976,559 before costs if fully subscribed.

2. As at the date of this notice:

   • a) the Company has complied with the provisions of Chapter 2M of the Corporations Act as they apply to the Company;

   • b) the Company has complied with section 674 of the Corporations Act being the requirement to meet its continuous disclosure obligations under the ASX Listing Rules; and

   • c) there is no "excluded information" within the meaning of sections 708AA(8) and 708AA(9) of the Corporations Act which is required to be disclosed under section 708AA(7)(d) of the Corporations Act.

3. The potential effect that the Rights Issue will have on the control of the Company is as follows:

   • a) if all shareholders of the Company on the record date of 19 August 2016 take up their entitlements under the Rights Issue, then the Rights Issue will have no effect on the control of the Company; and

   • b) if shareholders take up none or only some of their entitlements under the Rights Issue then the Rights Issue will have limited effect on control of the Company. The Company will exercise its discretion to ensure that no party will receive Shortfall Shares that in itself (ie. the amount of the shortfall) would result in a voting power in the Company equal to or greater than 10%.

An Appendix 3B reflecting the revised capital structure following the Rights Issue has been released in conjunction with this announcement.

If you have any questions in relation to the Rights Issue, please do not hesitate to contact the Company on (08) 9242 2227.

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Joe Graziano

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Company Secretary