PATRONUS RESOURCES LIMITED — Capital/Financing Update 2017

Dec 7, 2017

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ASX Code: KIN

Board of Directors

Trevor Dixon Chairman

Don Harper Managing Director

David Sproule Technical Director

Joe Graziano

Non-Executive Director & Company Secretary

Kin announces “Decision to Mine” the Leonora Gold Project

On behalf of its shareholders, the Board agrees to proceed to develop the 100% owned Leonora Gold Project.

Kin Mining NL (ASX: KIN ) is pleased to announce that following the successful completion of the Definitive Feasibility Study (DFS) (see ASX announcement 2 October 2017) and the execution of a binding senior secured credit facility for US$27m with Canadian based Sprott Private Resource Lending (see ASX announcement 6 December 2017); the Board on that basis formally agrees to proceed to develop the Leonora Gold Project located in the North-Eastern goldfields region of Western Australia.

Contact Details

Post

PO Box 565 Mount Hawthorn Western Australia 6915

Office

342 Scarborough Beach Road Osborne Park Western Australia 6017

Key points of the Leonora Gold Project DFS[1 ] were:

• Pre-production capital cost of A$35.4M (including 18% contingencies)

• Pre-production capital payback period of 11 months

• Forecast Life-of-Mine (LOM) revenue of $596.1M and surplus operating cashflow of $167.9M at A$1,600/oz. gold price

• LOM All-In-Sustaining Cost (AISC) of A$$1,018/oz[1]

• NPV8% A$107.4M

• Plant commissioning and first gold targeted for second half of 2018

Phone

08 9242 2227

Email

info@kinmining.com.au

Website

www.kinmining.com.au

Kin Mining Chairman, Trevor Dixon said “Kin Mining has agreed to proceed with a Decision to Mine. This follows the successful credit facility agreed with Sprott Resource Lending Group to fully fund the pre-production capital cost of the Leonora Gold Project. We are embarking on a very exciting growth journey. We have a clear pathway to cashflow, along with an aggressive exploration program planned for 2018. The Board would like to take this opportunity to thank all shareholders for their continued support.

Shares on Issue: 175,711,398

Unlisted Options : 40,335,750

ASX: KIN

-ENDS-

Investor enquiries: Media enquiries: Don Harper Kirsty Danby Managing Director Platform Communications Kin Mining Kin Mining NL +61 8 9242 2227 +61 413 401 323

About Kin Mining & Sprott

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.

Sprott Private Resource Lending is a division of Sprott Inc., an alternative asset manager and a global leader in precious metal and real asset investments. Through its subsidiaries in Canada, the US and Asia, the company is dedicated to providing investors with best-in-class investment strategies that include Exchange Listed Products, Alternative Asset Management and Private Resource Investments. The company also operates Merchant Banking and Brokerage businesses in both Canada and the US. Sprott is based in Toronto with offices in New York, Carlsbad and Vancouver.

1The 2 October 2017 DFS included the proposed 3.75% West Australian Government Gold Tax. This proposal has since been rejected with the revised AISC now A$1,018/oz. The 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. For Reference see ASX Announcement 2/10/2017 Feasibility confirms a high margin gold mine for Kin at its Leonora Gold Project

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.