PATRONUS RESOURCES LIMITED — Capital/Financing Update 2017

Dec 17, 2017

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18 December 2017

Board of Directors

Kin to raise $10 million to accelerate Cardinia Gold Exploration

Trevor Dixon Non-Executive Chairman

Don Harper Managing Director

Following continued exploration success at Cardinia the Company is now well funded to fast track an aggressive exploration campaign ahead of expected gold production in the second half of 2018

David Sproule Non-Executive Director

Joe Graziano Non-Executive Director/ Company Secretary

Contact Details

HIGHLIGHTS

• Kin launches equity raising comprising of an Institutional and Sophisticated Placement to raise A$7 million.

Post

PO Box 565 Mount Hawthorn Western Australia 6915

• A 1 for 16 Non-Renounceable Entitlement Offer to all eligible shareholders to raise approximately A$3 million on the same terms as the Placement.

Office

342 Scarborough Beach Road Osborne Park Western Australia 6017

Phone

08 9242 2227

Email info@kinmining.com.au

Website

www.kinmining.com.au

• Equity Funds will allow Kin to accelerate exploration drilling at the highly prospective Cardinia Mining Centre ahead of gold production forecast for the second half of 2018.

• Kin is currently finalising Legal Documentation for a US$27 million (A$35.5 million) debt facility with Sprott Private Resource Lending (“Sprott”), which will fully fund the Leonora Gold Project development (ASX announcement dated 6 December 2017).

• The raising satisfies the equity condition in the binding Term Sheet agreed with Sprott to construct the Leonora Gold Project.

Shares on Issue:

46,614,690 (KIN) 175,711,398 Unlisted Options : 40,335,750

• Approximately 40 million new shares to be issued at A$0.25 per share, representing a 12.2% discount to 5 day VWAP and a 12.3% discount to the last close of A$0.285/share.

• Equity raising well supported by Australian and International Institutional funds.

ASX: KIN

• Drilling planned to commence in early 2018 targeting the expansion of the Helens-Rangoon and Bruno-Lewis resources at Cardinia.

Kin Mining NL (ASX: KIN or the Company) announces an equity capital raising of $10 million (before costs) to be largely used to accelerate gold exploration at the exciting Cardinia Mining Centre located within the 100% owned Leonora Gold Project in the North-Eastern goldfields of Western Australia.

The capital raising, comprises a Placement and Entitlement issue. The Company has received heavily oversubscribed firm commitments from Institutional and Sophisticated investors to raise $7 million (before costs) via the issue of 28,000,000 fully paid ordinary shares ( Shares ) at an issue price of $0.25 per Share.

The issue price represents a 12.2% discount to the volume weighted average market price ( VWAP ) of shares over the 5 days on which the sales were recorded on the ASX immediately prior to the date of this announcement ( Issue Price ). The Company will offer existing eligible shareholders the opportunity to participate in a $3 million (before costs) Entitlement on the same terms as the Placement.

Petra Capital acted as lead manager to the Placement.

Managing Director Don Harper said,

“The Company is now funded to implement an aggressive exploration program targeting both the HelensRangoon and Bruno-Lewis 3km mineralised systems at Cardinia. We look forward to significantly increasing and upgrading our resources and reserves ahead of gold production in 2018. We also welcome the introduction of new Australian and International institutional investors to our register.”

PRO-RATA NON-RENOUNCABLE RIGHTS ISSUE

The Company advises that it proposes to undertake a pro-rata non-renounceable entitlement issue of approximately 12,000,000 ordinary fully paid shares ( New Shares ) on the basis of one (1) New Share for every sixteen (16) Shares held by Eligible Shareholders on the Record Date at an issue price of $0.25 per New Share, to raise up to approximately $3,000,000 ( Rights Issue or Offer ).

New Shares issued under the Rights Issue will rank equally with existing Shares on issue and the Company will apply for official quotation of the New Shares.

Option holders are not entitled to participate in the Rights Issue without first exercising their options to be registered as a shareholder ( in Australia, New Zealand and Singapore ) on the Record Date, in accordance with the terms and conditions of the options.

The Proposed Timetable for the Offer will be as follows:

Announcement ofOffer	18December 2017
Appendix3Band cleansingnoticelodgedwith ASX	8 January2018
Offer Documentlodgedwith ASX	8 January2018
Letterto Option Holders and Shareholders	9 January2018
“Ex” Date	10 January2018
RecordDate to determineEntitlement toNewShares	11January2018
Dispatch of Offer Document and Application Form and announcement thatdispatchcompleted.	12 January 2018
Offeropensfor receipt of Applications	15 January2018
ClosingDatefor Applications and paymentin full	2 February2018
NewShares quoted ona deferred settlement basis	5February2018
ASX notified ofundersubscriptions	7 February2018
Dispatch date of holding statements, New Shares entered into the holders’securityholdings	9 February 2018
Trading commencesfor NewShares onanormalbasis	12 February2018

-ENDS-

For further information, please contact:

Don Harper Kirsty Danby Managing Director Director Kin Mining Platform Communications +61 8 9242 2227 +61 413 401 323

About Kin Mining NL

Kin Mining (ASX: KIN) is an emerging gold development company with a significant tenement portfolio in the highly prospective North-Eastern Goldfields region of Western Australia. The Company has completed its Definitive Feasibility Study on the Leonora Gold Project forecasting an average production rate of 55,000oz[1] pa. The Company has also upgraded its resources to 1.02Moz[2] and released its Maiden Ore Reserve of 373,000oz[1] . Kin is seeking to increase shareholder value through continued aggressive exploration on its tenements and achieving gold production in the second half of 2018.

Kin Mining NL were the winning recipient of the Diggers and Dealers Best Emerging Company Award 2017.

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 2 October 2017 “Feasibility confirms a high margin gold mine for Kin at its Leonora Gold Project”, and that all material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed.

2The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX Announcement of 30 August 2017 “Kin Defines +1 Million ounces of Gold at the Leonora Gold Project”, 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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