PATRONUS RESOURCES LIMITED — Capital/Financing Update 2017

May 16, 2017

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17[th] May 2017

Board of Directors

Trevor Dixon Chairman

Drilling in Full Swing at the High-Grade Lewis Discovery

Don Harper Managing Director

David Sproule Technical Director

Joe Graziano

Non-Executive Director & Company Secretary

HIGHLIGHTS

• Drilling is underway at the shallow high-grade Lewis gold discovery within the Cardinia Mining Centre at the Leonora Gold Project

• Drilling to target the extensions to the high-grade primary mineralisation discovered at Lewis in April 2017

• Drilling initially aimed at delineating shallow high-grade mineralisation to be included in the Definitive Feasibility Study on the Leonora Gold Project

Contact Details

Post

PO Box 565

Mount Hawthorn Western Australia 6915

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

Kin Mining NL (ASX: KIN) is pleased to announce that it has commenced an initial 5,000m Reverse Circulation (RC) drilling program targeting extensions to the high-grade primary mineralisation discovered at the Lewis Deposit last month (see ASX announcement 19[th] April 2017, Spectacular Primary Gold Zone Discovered at Lewis – Best Intersection of 5m @ 117 g/t Au) .

The recent drilling conducted by Kin, when combined with historic drilling, defined a mineralised structure that is estimated to have a strike length of at least 500m (see Figure 1). Gold grades encountered in recent drilling were exceptional, with previously announced (19[th] April 2017) intersections including:

• 5m @ 117 g/t Au (LS17RC067)

• 3m @ 50.7 g/t Au (LS17RC064)

• 1m @ 55.5 g/t Au (LS17RC057)

• 2m @ 44.7 g/t Au (LS17RC074)

• 1m @ 38.9 g/t Au (LS17RC076)

• 1m @ 32.2 g/t Au (LS17RC056)

• 1m @ 31.1 g/t Au (LS17RC048 )

Shares on Issue: 159,306,184

Unlisted Options : 12,920,000 @20c 12,235,750 @40c 5,000,000 @27c

About Lewis

The Lewis area has previously been regarded as being highly prospective for shallow, free-digging supergene gold mineralisation. however, the recent primary intersections suggest that the supergene resources at Lewis could represent the top of a large mineralised shear system with potentially significant higher-grade mineralisation at depth. This possibility has opened a new search space for the Company opening potential exploration and resource development opportunities.

The mineralised structure has been intersected in an irregular pattern and further drilling is required between existing intersections and to test the down dip extensions to the mineralisation.

ASX: KIN

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Figure 1: Lewis long section displaying previous results and area of current drilling

Kin Managing Director Don Harper said: “It’s still early days, but the discovery of the Lewis primary mineralisation has given the Leonora Gold Project a huge boost. The presence of high-grade mineralisation beneath our supergene resources presents as a golden opportunity to potentially add to the existing Mineral Resources in the heart of the Cardinia Mining Centre.”

“The current drilling program aims to increase our understanding of the significance of this discovery by both infill drilling within the current interpreted extents of the mineralisation and also to test for extensions to the mineralised envelope. If we can bring high-grade mineralisation into the front end of the mine plan we expect it would significantly enhance the project economics. It is an exciting time for the Company as we march towards gold production while maintaining an aggressive drilling program to further investigate this potential game-changer for the Company.” He said.

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Figure 2: Cross section showing recently announced results at Lewis

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Figure 3: Lewis Deposit centrally located at the Cardinia Mining Centre. For details on the Mineral Resources reported here please refer to ASX announcement 11th May 2015.[1 ]

-ENDS-

1. The Company confirms that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.

For further information, please contact:

Don Harper Paul Armstrong/Nicholas Read Managing Director Kin Mining NL Read Corporate +61 8 9242 2227 +61 (0) 8 9388 1474

About Kin Mining

Kin Mining NL (ASX: KIN) is an emerging gold development company with a significant tenement portfolio in the NorthEastern Goldfields of Western Australia. The immediate focus of the company is the (100% Kin), Leonora Gold Project (LGP) which contains a JORC resource of 721 koz Au.

Kin’s priority is to complete a Feasibility Study for the LGP by third quarter 2017. Drilling is in progress with the objective of converting the Inferred Mineral Resources in the mine plan to Indicated Mineral Resources. Metallurgical, geotechnical, and environmental work is currently underway to support the Definitive Feasibility Study, which will form the basis for a decision to mine.

Competent Persons Statement

The information contained in this report relates to information compiled or reviewed by Paul Maher who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM) and Mr. Simon Buswell-Smith who is a Member of the Australian Institute of Geoscientists (MAIG), both are employees of the company and fairly represent this information. Mr. Maher and Mr. Buswell-Smith have sufficient experience of relevance to the styles of mineralisation and the types of deposit under consideration, and to the activities undertaken to qualify as Competent Persons as defined in the 2012 edition of the “JORC Australian code for reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Maher and Mr. Buswell-Smith consent to the inclusion in this report of the matters based on information in the form and context in which it appears.