PATRONUS RESOURCES LIMITED — Capital/Financing Update 2017

May 2, 2017

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3 May 2017

Board of Directors

Trevor Dixon Chairman

Kin to launch aggressive exploration campaign at Lewis discovery after raising $10.2m

Don Harper Managing Director

David Sproule Technical Director

Joe Graziano Non-Executive Director & Company Secretary

HIGHLIGHTS

• Kin has raised $4.2m at 20c issuing 21.2m shares via a Share Purchase Plan comprising $1.3m in subscriptions and $2.9m via allotment of the shortfall

• Kin has raised a further $6.0m issuing 20m shares via a placement at 32c to sophisticated and institutional investors via placement capacity under listing rules 7.1 and 7.1A as well as a future placement of 5m shares approved by shareholders at a General Meeting held on 10 April 2017.

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

Shares on Issue: 124,720,309

Unlisted Options : 23,625,000

ASX: KIN

• Proceeds will be used in part to fund aggressive follow-up drilling campaign at the recent Lewis discovery (5m at 117 g/t Au ) at the Leonora Gold Project (LGP) in WA

• Proceeds will also fund ongoing exploration at LGP and to complete the project Feasibility Study, leaving Kin fully-funded to decision to mine.

Kin Mining NL (ASX: KIN) is pleased to announce that it has raised a total of $10.2 million (after costs) through a heavily oversubscribed Share Purchase Plan (SPP) and share placement to sophisticated and institutional investors.

Applications for shares totalling $1.3 million were received under the SPP. A further $2.9 million was raised via the placement of the SPP shortfall.

SPP shortfall allocations were (at the Directors’ discretion) allocated as a priority to applications received prior to the announcement of the Lewis Discovery ( refer ASX 19 April 2017, Spectacular Primary Gold Zone Discovered at Lewis - Best Intersection of 5m @ 117 g/t Au) at the LGP.

The SPP allowed shareholders to each acquire up to $15,000 worth of shares at 20c with one free option (exercisable at 40c) for every two new shares subscribed for and issued. The Company will issue 21.2m shares and 10.6m attaching options

Kin raised a further $6.0 million via a placement of 20m shares to sophisticated and institutional investors at 32c a share. The Company will utilise a future placement of 5m shares approved by shareholders at a General Meeting held on 10 April 2017 as well as placement capacity available under Listing Rules 7.1 and 7.1A. The funds raised through the SPP and the share placement will be used in part to fund an aggressive follow-up drilling campaign at Lewis.

The Company is now fully funded to complete the Leonora Gold Project Definitive Feasibility Study, acquire the Lawlers processing facility (refer ASX 26 April 2017, Kin Secures Processing Facility for $2.5M), build the management team and to undertake a significant exploration program at Lewis.

The Company is very excited by the bright future for Kin shareholders as it progresses towards development of a new gold mine in WA, and plans to continue to build upon its existing resource base through regional and deeper drilling at the Leonora Gold Project which is already yielding very positive results for the Company.

The Company has been overwhelmed by the new interest in Kin as a result of recent exploration successes at the Leonora Gold Project. With the support received for the capital raising from a number of reputable domestic and international institutional investors the Company is pleased to welcome a number of new investors to our share register with this placement.

The Board of Kin would like to take this opportunity to thank all the Company’s loyal shareholders for their continued support.

-ENDS-

Investor enquiries: Don Harper Managing Director, Kin Mining NL +61 (0)8 9242 2227

Media enquiries: Paul Armstrong/Nicholas Read Read Corporate +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 North-Eastern 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