PATRONUS RESOURCES LIMITED — Investor Presentation 2018

Oct 3, 2018

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Disclaimer
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Disclaimer

This presentation is not a prospectus nor an offer for securities in any jurisdiction nor a securities recommendation. The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions in connection with any acquisition of securities, investors should rely on their own examination of Kin Mining NL and consult their own legal, business and/or financial advisers.

The information contained in this presentation has been prepared in good faith by Kin Mining NL, however no representation or warranty expressed or implied is made as to the accuracy, correctness, completeness or adequacy of any statements, estimates, opinions or other information contained in this presentation. To the maximum extent permitted by law, Kin Mining NL, its directors, officers, employees and agents disclaim liability for any loss or damage which may be suffered by any person through the use or reliance on anything contained in or omitted from this presentation.

Forward-Looking Statements

Certain information in this document refers to the intentions of Kin Mining NL, but these are not intended to be forecasts, forward looking statements or statements about future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of events in the future are subject to risks, uncertainties and other factors that may cause Kin Mining NL’s actual results, performance or achievements to differ from those referred to in this announcement. Accordingly, Kin Mining NL, its directors, officers, employees and agents do not give any assurance or guarantee that the occurrence of the events referred to in this announcement will actually occur as contemplated.

Competent Person’s Statement

The information contained in this report that relates to the 2017 Mineral Resources (excluding Helens that was updated in 2018) is based on information reviewed and compiled by Dr. Spero Carras of Carras Mining Pty Ltd (CM). Dr. Carras is a Fellow of the Australasian Institute Mining and Metallurgy (AusIMM) and has over 40 years experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Mark Nelson, Consultant Geologist to CM with over 30 years experience and is a Member of the Australasian Institute Mining and Metallurgy (AusIMM) with sufficient experience in the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Gary Powell Consultant Geologist to CM with over 30 years experience and is a Member of the Australasian Institute Mining and Metallurgy (AusIMM) and the AIG with sufficient experience in the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". CM also acted as auditors of the 2009 McDonald Speijers resource estimates for Eclipse, Quicksilver, Forgotten Four and Krang.

Dr. S. Carras, Mr. Mark Nelson and Mr. Gary Powell consent to the inclusion in the report of the matters based on their information in the context in which it appears.

The information contained in this report relating to the 2018 Resource Estimation results for the Helens deposit relates to information compiled by Mr Jamie Logan. Mr Logan is a member of the Australian Institute of Geoscientists and is a full time employee of the company. Mr Logan has sufficient experience of relevance to the styles of mineralisation and the types of deposit under consideration, and to the activities undertaken to qualify as a Competent Person as defined in the 2012 edition of the JORC “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".

Mr Logan consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

The information contained in this report relating to exploration results relates to information compiled or reviewed by Glenn Grayson. Mr Grayson is a member of the Australasian Institute of Mining and Metallurgy and is a full time employee of the company. Mr Grayson has sufficient experience of relevance to the styles of mineralisation and the types of deposit under consideration, and to the activities undertaken to qualify as a Competent Person as defined in the 2012 edition of the JORC “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".

Mr. Grayson consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

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Kin Mining – an overview
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• 100%-owned Leonora Gold Project (LGP) in the Eastern Goldfields region of WA

• Mineral Resource of 1Moz+ and active exploration programs at Cardinia and surrounding regional projects

• New Directors and Managing Director appointed to drive exploration and development program

• Construction at the Cardinia processing facility suspended in May 2018

• Cost overruns relative to Budget in the initial work

• Cardinia Plant Cost to Complete estimate was significantly more than Budget

• Mining plan focussed only on near surface oxide ores as the deposits were not drilled to depth

• Power and Water supply was uncertain and high risk

• Mining approvals were not secured

 2018 Exploration and Development activities now aimed at

• Extending to depth known deposits

LEONORA GOLD PROJECT

• Upgrading Resource categories

• De-risking Mine Plan, Water, Power and Tails Dam

• Securing the Mining approvals

• Re-estimating the Cost and Schedule to Complete

• Strategy - Delivery of the Project, better quality, lower risk to Finance decision point

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Corporate
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	Share price (A$)		0.10
	Shares outstanding (m)		324.7
	Options (m)		37.3
	Market capitalisation (A$M)		32.5
	Net Cash/(Debt) (A$M)1		4.0
	Board of Directors and Management
	Jeremy Kirkwood Chairman	Brian Dawes Non-Executive Director		Joe Graziano Non-Executive Director	Andrew Munckton Managing Director	Trevor Dixon Executive Director	Stephen Jones CFO and Co Sec	Gary Goh GM Development	Glenn Grayson Exploration Manager
	Finance +30 years experience	Mining Engineer +35 years experience		Businessman +25 years experience	Experienced geologist and mine manager	Businessman +30 years experience	Accountant +25 years experience	Mine Manager +23 years experience	Geologist with +23 years experience
	RENEWED BOARD AND MANAGEMENT TEAM

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 Mining

• 373Koz Ore Reserve - Grade 1.5g/t

• 10 Open pits some with additional sub-pits

• LOM strip Ratio 8:1

• 67% of Ore is Oxide or Transitional

 Processing

• Lawlers Plant (800ktpa) plus

• 2.5Mw ANI Mill - ex Mt Mclure plus

• New Leach circuit – 92.5% recovery

• 1.0 to 1.5Mtpa capacity dependent on Feed

• Power, Water and Tails Dam

• Assumed Water from pit dewatering, Cardinia Creek and Mertondale. Subject to exploration program and 25km pipeline to Mertondale

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* Refer to ASX Announcement, 30 August
2017
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• Power 7.5Mw diesel fueled BOOT contract

• Tails – Staged construct south of plant

 Approvals

• Part A at Cardinia -10ha cleared site to allow process plant construction to commence. Part B – subject to Mining Proposal to be submitted and approved by DMP

 Results

• Pre-production Capital $35.4 million

• 7 year LOM

• AISC $1038/oz

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Cardinia and Lawlers
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 A$10 million spent

 US$5.0 million drawn from US$27 million facility

 Cardinia

• Workshop, Buildings and temporary power, water, ablutions and communications established

• Leach Tanks partially complete

• Equipment refurbished, secured and stored

• Being used as a Hub for work programs.

 Lawlers

• Partially deconstructed

• Extended Agreement with Goldfields

• Beacon Minerals assets removed

• C&M status

 Independent assessment

• Mintrex Engineers in 3 Stages.

• Stage 2 complete

 Make Re-construction ready

• Part of the C&M program is to investigate, assess and document in detail all as constructed work and address potential long lead time items

 What we have built will not be wasted!

See ASX Announcement 1 June 2018

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 A New Operating Strategy has been adopted.

• No Longer “Fast Track” and “Owner Build”

• De-risk and enhance the project

• Conventional execution of the construction

 Money

• $11.3 million raised from new and existing shareholders.

• Funds used in work programs and Sprott debt repayment USD$2 million to date.

 Work Programs

 Ore Supply

• Drill the depth extensions of Helens and Bruno Lewis

• Metallurgical testwork program

• Mine Design and schedule.

 Water Supply and Tails

• Cardinia Creek and Bummer Creek with Mertondale water displaced

• Tails Dam footprint to be sterilised with drill programs

 Approvals

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• Bummer Creek water supply will require flora and fauna data collection and assessment.

• Final designs on expanded Pits, Waste Dumps, Tailings Dam and Infrastructure requires assessment and submission of a Mining Proposal.

 Outcomes

 Better Quality Project

• Much more certain basis for estimating the Cost and Schedule to Complete

• Lower Risk Project Execution Plan.

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– potential at depth
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ALL DRILLING DRILLING DEEPER THAN 50m DRILLING DEEPER THAN 100m DRILLING DEEPER THAN 150m
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• Drilling has previously targeted oxide supergene mineralisation

• Highly successful deeper drilling campaign undertaken in Late 2017 and 2018 at Helens and Lewis

• Large gold footprint that is under explored beneath 100m

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Helens – results from recent drilling
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*** See ASX Announcement 10 September 2018 (does not include Fiona)**

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• Mineral Resources – 1.03Mt @ 2.14 g/t Au for 71koz Au

• Consistent, primary mineralisation intersected below 100m depth.

• High grade oxide and primary mineralisation intersected over 1500m of strike.

• Clear potential exists to increase the Mineral Resources below 150 metre depth.

• Fiona Mineral Resources – 0.44Mt @ 1.70 g/t Au for 24koz.

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–
extensive supergene above primary mineralisation
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• Extensive shallow oxide mineralisation hosted within 3kmlong Bruno-Lewis system

• The Oxide Ore (186k oz* Mineral Resource to circa 50m) has an underlying primary source that is yet to be fully understood

• Primary mineralisation discovered during Resource infill and extensional drilling in 2017

• Phase 1 drilling Complete

• Met testwork underway

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*** See ASX Announcement 30 August 2017**

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Mertondale 5 ‐ Open Pit Mining was completed in 1991.

• Discovered by Harbour Lights Mining Ltd in 1989

• • Mined 384,671 tonnes @ 3.06 g/t Au for 37,841 Ounces with A$450/ oz gold price in pit design

• • Transported and treated at Harbour Lights Processing Facility achieving 89.5% recovery

History

• Update the geologic model and interpretation

• Drill to define the mineable envelope

Program

• Optimise the design and evaluate. Currently Mertondale 5 is not part of the LGP LOM Plan

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Cardinia and Bummer Creeks
Water Supply –
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• Cardinia Creek. Two production bores PB1 and PB4 tested. 15 l/s combined.

• Supply construction and dust suppression water. Two more sites identified for development

• Bummer Creek. Two Production Bores PB2 and PB3 tested. 25-30 l/s combined.

• .

• Supply plant long term. 13 km south of the plant site. Three more sites identified for development

See ASX Announcement 2 August 2018

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 Costs

 It is too early to re-estimate the Cost to Complete

• New Mineral Resource estimate for Helens and Bruno Lewis.

• New Metallurgical Testwork, Ore Reserves, Mine plan and schedule.

• Definitive Capital estimates of Water, Power, Tailings Dam and Infrastructure

• Review Lawlers equipment and deconstruction cost estimate

• New Definitive Capital estimates on Cardinia plant construction

 Schedule

 Mining Proposal Approval is likely to be 6 to 12 Months

• Bummer Creek water supply requires baseline flora and fauna data collection and assessment.

• Expansion of the Helens and Bruno Lewis pits, water supply and Tailings Dam requires us to re-assess the environmental impact and submit a modified Mining Proposal to the regulators.

• Approval and Completion is subject to regulator assessment

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• New Board and Management team

• Construction of the LGP suspended due to:

• Uncertainty of the increase in the Cost to Complete

• Other Project elements were not far enough advanced

• The Construction as planned was putting The Company at Risk if we continued

• Suspension and Capital raising allows

• Repayment of Sprott

• The Reset work program to proceed

• The New Operating Strategy

• Delivers a Quality Project

• Reduces Execution Risk

• and…..Project delivery with lower risk takes time and costs money

• but…..you end up with a better result!

• Work program

• Delivering Results

• Works are being delivered diligently, swiftly and logically

• The Project fundamentals are sound

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Osborne Park WA 6017
T: 61 8 9242 2227
E: info@kinmining.com.au
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ASX: KIN
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APPENDIX A – Kin Mining NL Mineral Resources
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Leonora Gold Project (LGP) – 1.06 Moz Au Mineral Resource

See ASX Announcement 30[th] August 2017 “Kin Defines +1 Million ounces of Gold at the Leonora Gold Project.”

See ASX Announcement 10[th] September 2018 “Helens Mineral Resource Update.”

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

Notes:

Totals may not tally due to rounding of values.

All resources other than Helens, Eclipse, Quicksilver, Forgotten Four and Krang have been estimated by Carras Mining Pty Ltd in 2017 and reported at 0.5g/t Au within AUD2,200 pit shells.

* Mineral Resources estimated by McDonald Speijers in 2009, audited by Carras Mining Pty Ltd in 2017 and reported in accordance with JORC 2012 using a 0.5g/t Au cut-off within AUD2,200 pit shells.

** Helens resources estimated by Jamie Logan and reported in accordance with JORC 2012, using a 0.5 g/t Au cut-off within AUD2000 pit shells (10[th] September 2018).

		1 6 Tonnes (Mt) Au (g/t Au) Au (k Oz) Tonnes (Mt) Au (g/t Au) Au (k Oz) Tonnes (Mt) Au (g/t Au) Au (k Oz) 2.75 1.37 121 0.36 1.33 15 3.11 1.37 137 2.08 1.50 100 0.48 1.33 21 2.56 1.47 121 2.67 1.18 101 0.18 1.30 8 2.85 1.19 109 0.81 1.83 48 0.22 1.71 12 1.03 1.80 60 1.23 1.39 55 1.23 1.39 55 0.81 1.54 40 0.81 1.54 40 8.31 1.39 370 3.28 1.43 151 11.59 1.40 521 1.09 1.30 46 0.72 1.55 36 1.81 1.40 81 2.48 1.21 96 0.22 1.31 9 2.70 1.22 106 0.51 1.28 21 0.02 1.60 1 0.53 1.29 22 0.33 1.90 20 0.11 1.30 5 0.44 1.75 25 0.62 2.18 43 0.41 2.07 27 1.03 2.14 71 0.41 1.37 18 0.19 1.18 7 0.60 1.31 25 5.44 1.40 245 1.67 1.59 85 7.11 1.44 330 2.47 1.61 128 0.09 1.51 4 2.56 1.61 132 0.75 1.81 44 0.15 1.23 6 0.90 1.71 50 0 0.21 2.12 14 0.21 2.12 14 0 0.15 2.11 10 0.15 2.11 10 3.22 1.66 171 0.60 1.80 35 3.82 1.68 206 17.0 1.44 787 5.6 1.52 271 22.5 1.46 1,057 Leonora Gold Project Mineral Resources Indicated Resources Resources Inferred Total Resources	1 6 Tonnes (Mt) Au (g/t Au) Au (k Oz) Tonnes (Mt) Au (g/t Au) Au (k Oz) Tonnes (Mt) Au (g/t Au) Au (k Oz) 2.75 1.37 121 0.36 1.33 15 3.11 1.37 137 2.08 1.50 100 0.48 1.33 21 2.56 1.47 121 2.67 1.18 101 0.18 1.30 8 2.85 1.19 109 0.81 1.83 48 0.22 1.71 12 1.03 1.80 60 1.23 1.39 55 1.23 1.39 55 0.81 1.54 40 0.81 1.54 40 8.31 1.39 370 3.28 1.43 151 11.59 1.40 521 1.09 1.30 46 0.72 1.55 36 1.81 1.40 81 2.48 1.21 96 0.22 1.31 9 2.70 1.22 106 0.51 1.28 21 0.02 1.60 1 0.53 1.29 22 0.33 1.90 20 0.11 1.30 5 0.44 1.75 25 0.62 2.18 43 0.41 2.07 27 1.03 2.14 71 0.41 1.37 18 0.19 1.18 7 0.60 1.31 25 5.44 1.40 245 1.67 1.59 85 7.11 1.44 330 2.47 1.61 128 0.09 1.51 4 2.56 1.61 132 0.75 1.81 44 0.15 1.23 6 0.90 1.71 50 0 0.21 2.12 14 0.21 2.12 14 0 0.15 2.11 10 0.15 2.11 10 3.22 1.66 171 0.60 1.80 35 3.82 1.68 206 17.0 1.44 787 5.6 1.52 271 22.5 1.46 1,057 Leonora Gold Project Mineral Resources Indicated Resources Resources Inferred Total Resources	1 6 Tonnes (Mt) Au (g/t Au) Au (k Oz) Tonnes (Mt) Au (g/t Au) Au (k Oz) Tonnes (Mt) Au (g/t Au) Au (k Oz) 2.75 1.37 121 0.36 1.33 15 3.11 1.37 137 2.08 1.50 100 0.48 1.33 21 2.56 1.47 121 2.67 1.18 101 0.18 1.30 8 2.85 1.19 109 0.81 1.83 48 0.22 1.71 12 1.03 1.80 60 1.23 1.39 55 1.23 1.39 55 0.81 1.54 40 0.81 1.54 40 8.31 1.39 370 3.28 1.43 151 11.59 1.40 521 1.09 1.30 46 0.72 1.55 36 1.81 1.40 81 2.48 1.21 96 0.22 1.31 9 2.70 1.22 106 0.51 1.28 21 0.02 1.60 1 0.53 1.29 22 0.33 1.90 20 0.11 1.30 5 0.44 1.75 25 0.62 2.18 43 0.41 2.07 27 1.03 2.14 71 0.41 1.37 18 0.19 1.18 7 0.60 1.31 25 5.44 1.40 245 1.67 1.59 85 7.11 1.44 330 2.47 1.61 128 0.09 1.51 4 2.56 1.61 132 0.75 1.81 44 0.15 1.23 6 0.90 1.71 50 0 0.21 2.12 14 0.21 2.12 14 0 0.15 2.11 10 0.15 2.11 10 3.22 1.66 171 0.60 1.80 35 3.82 1.68 206 17.0 1.44 787 5.6 1.52 271 22.5 1.46 1,057 Leonora Gold Project Mineral Resources Indicated Resources Resources Inferred Total Resources	1 6 Tonnes (Mt) Au (g/t Au) Au (k Oz) Tonnes (Mt) Au (g/t Au) Au (k Oz) Tonnes (Mt) Au (g/t Au) Au (k Oz) 2.75 1.37 121 0.36 1.33 15 3.11 1.37 137 2.08 1.50 100 0.48 1.33 21 2.56 1.47 121 2.67 1.18 101 0.18 1.30 8 2.85 1.19 109 0.81 1.83 48 0.22 1.71 12 1.03 1.80 60 1.23 1.39 55 1.23 1.39 55 0.81 1.54 40 0.81 1.54 40 8.31 1.39 370 3.28 1.43 151 11.59 1.40 521 1.09 1.30 46 0.72 1.55 36 1.81 1.40 81 2.48 1.21 96 0.22 1.31 9 2.70 1.22 106 0.51 1.28 21 0.02 1.60 1 0.53 1.29 22 0.33 1.90 20 0.11 1.30 5 0.44 1.75 25 0.62 2.18 43 0.41 2.07 27 1.03 2.14 71 0.41 1.37 18 0.19 1.18 7 0.60 1.31 25 5.44 1.40 245 1.67 1.59 85 7.11 1.44 330 2.47 1.61 128 0.09 1.51 4 2.56 1.61 132 0.75 1.81 44 0.15 1.23 6 0.90 1.71 50 0 0.21 2.12 14 0.21 2.12 14 0 0.15 2.11 10 0.15 2.11 10 3.22 1.66 171 0.60 1.80 35 3.82 1.68 206 17.0 1.44 787 5.6 1.52 271 22.5 1.46 1,057 Leonora Gold Project Mineral Resources Indicated Resources Resources Inferred Total Resources	1 6 Tonnes (Mt) Au (g/t Au) Au (k Oz) Tonnes (Mt) Au (g/t Au) Au (k Oz) Tonnes (Mt) Au (g/t Au) Au (k Oz) 2.75 1.37 121 0.36 1.33 15 3.11 1.37 137 2.08 1.50 100 0.48 1.33 21 2.56 1.47 121 2.67 1.18 101 0.18 1.30 8 2.85 1.19 109 0.81 1.83 48 0.22 1.71 12 1.03 1.80 60 1.23 1.39 55 1.23 1.39 55 0.81 1.54 40 0.81 1.54 40 8.31 1.39 370 3.28 1.43 151 11.59 1.40 521 1.09 1.30 46 0.72 1.55 36 1.81 1.40 81 2.48 1.21 96 0.22 1.31 9 2.70 1.22 106 0.51 1.28 21 0.02 1.60 1 0.53 1.29 22 0.33 1.90 20 0.11 1.30 5 0.44 1.75 25 0.62 2.18 43 0.41 2.07 27 1.03 2.14 71 0.41 1.37 18 0.19 1.18 7 0.60 1.31 25 5.44 1.40 245 1.67 1.59 85 7.11 1.44 330 2.47 1.61 128 0.09 1.51 4 2.56 1.61 132 0.75 1.81 44 0.15 1.23 6 0.90 1.71 50 0 0.21 2.12 14 0.21 2.12 14 0 0.15 2.11 10 0.15 2.11 10 3.22 1.66 171 0.60 1.80 35 3.82 1.68 206 17.0 1.44 787 5.6 1.52 271 22.5 1.46 1,057 Leonora Gold Project Mineral Resources Indicated Resources Resources Inferred Total Resources	1 6 Tonnes (Mt) Au (g/t Au) Au (k Oz) Tonnes (Mt) Au (g/t Au) Au (k Oz) Tonnes (Mt) Au (g/t Au) Au (k Oz) 2.75 1.37 121 0.36 1.33 15 3.11 1.37 137 2.08 1.50 100 0.48 1.33 21 2.56 1.47 121 2.67 1.18 101 0.18 1.30 8 2.85 1.19 109 0.81 1.83 48 0.22 1.71 12 1.03 1.80 60 1.23 1.39 55 1.23 1.39 55 0.81 1.54 40 0.81 1.54 40 8.31 1.39 370 3.28 1.43 151 11.59 1.40 521 1.09 1.30 46 0.72 1.55 36 1.81 1.40 81 2.48 1.21 96 0.22 1.31 9 2.70 1.22 106 0.51 1.28 21 0.02 1.60 1 0.53 1.29 22 0.33 1.90 20 0.11 1.30 5 0.44 1.75 25 0.62 2.18 43 0.41 2.07 27 1.03 2.14 71 0.41 1.37 18 0.19 1.18 7 0.60 1.31 25 5.44 1.40 245 1.67 1.59 85 7.11 1.44 330 2.47 1.61 128 0.09 1.51 4 2.56 1.61 132 0.75 1.81 44 0.15 1.23 6 0.90 1.71 50 0 0.21 2.12 14 0.21 2.12 14 0 0.15 2.11 10 0.15 2.11 10 3.22 1.66 171 0.60 1.80 35 3.82 1.68 206 17.0 1.44 787 5.6 1.52 271 22.5 1.46 1,057 Leonora Gold Project Mineral Resources Indicated Resources Resources Inferred Total Resources	1 6 Tonnes (Mt) Au (g/t Au) Au (k Oz) Tonnes (Mt) Au (g/t Au) Au (k Oz) Tonnes (Mt) Au (g/t Au) Au (k Oz) 2.75 1.37 121 0.36 1.33 15 3.11 1.37 137 2.08 1.50 100 0.48 1.33 21 2.56 1.47 121 2.67 1.18 101 0.18 1.30 8 2.85 1.19 109 0.81 1.83 48 0.22 1.71 12 1.03 1.80 60 1.23 1.39 55 1.23 1.39 55 0.81 1.54 40 0.81 1.54 40 8.31 1.39 370 3.28 1.43 151 11.59 1.40 521 1.09 1.30 46 0.72 1.55 36 1.81 1.40 81 2.48 1.21 96 0.22 1.31 9 2.70 1.22 106 0.51 1.28 21 0.02 1.60 1 0.53 1.29 22 0.33 1.90 20 0.11 1.30 5 0.44 1.75 25 0.62 2.18 43 0.41 2.07 27 1.03 2.14 71 0.41 1.37 18 0.19 1.18 7 0.60 1.31 25 5.44 1.40 245 1.67 1.59 85 7.11 1.44 330 2.47 1.61 128 0.09 1.51 4 2.56 1.61 132 0.75 1.81 44 0.15 1.23 6 0.90 1.71 50 0 0.21 2.12 14 0.21 2.12 14 0 0.15 2.11 10 0.15 2.11 10 3.22 1.66 171 0.60 1.80 35 3.82 1.68 206 17.0 1.44 787 5.6 1.52 271 22.5 1.46 1,057 Leonora Gold Project Mineral Resources Indicated Resources Resources Inferred Total Resources	1 6 Tonnes (Mt) Au (g/t Au) Au (k Oz) Tonnes (Mt) Au (g/t Au) Au (k Oz) Tonnes (Mt) Au (g/t Au) Au (k Oz) 2.75 1.37 121 0.36 1.33 15 3.11 1.37 137 2.08 1.50 100 0.48 1.33 21 2.56 1.47 121 2.67 1.18 101 0.18 1.30 8 2.85 1.19 109 0.81 1.83 48 0.22 1.71 12 1.03 1.80 60 1.23 1.39 55 1.23 1.39 55 0.81 1.54 40 0.81 1.54 40 8.31 1.39 370 3.28 1.43 151 11.59 1.40 521 1.09 1.30 46 0.72 1.55 36 1.81 1.40 81 2.48 1.21 96 0.22 1.31 9 2.70 1.22 106 0.51 1.28 21 0.02 1.60 1 0.53 1.29 22 0.33 1.90 20 0.11 1.30 5 0.44 1.75 25 0.62 2.18 43 0.41 2.07 27 1.03 2.14 71 0.41 1.37 18 0.19 1.18 7 0.60 1.31 25 5.44 1.40 245 1.67 1.59 85 7.11 1.44 330 2.47 1.61 128 0.09 1.51 4 2.56 1.61 132 0.75 1.81 44 0.15 1.23 6 0.90 1.71 50 0 0.21 2.12 14 0.21 2.12 14 0 0.15 2.11 10 0.15 2.11 10 3.22 1.66 171 0.60 1.80 35 3.82 1.68 206 17.0 1.44 787 5.6 1.52 271 22.5 1.46 1,057 Leonora Gold Project Mineral Resources Indicated Resources Resources Inferred Total Resources	1 6 Tonnes (Mt) Au (g/t Au) Au (k Oz) Tonnes (Mt) Au (g/t Au) Au (k Oz) Tonnes (Mt) Au (g/t Au) Au (k Oz) 2.75 1.37 121 0.36 1.33 15 3.11 1.37 137 2.08 1.50 100 0.48 1.33 21 2.56 1.47 121 2.67 1.18 101 0.18 1.30 8 2.85 1.19 109 0.81 1.83 48 0.22 1.71 12 1.03 1.80 60 1.23 1.39 55 1.23 1.39 55 0.81 1.54 40 0.81 1.54 40 8.31 1.39 370 3.28 1.43 151 11.59 1.40 521 1.09 1.30 46 0.72 1.55 36 1.81 1.40 81 2.48 1.21 96 0.22 1.31 9 2.70 1.22 106 0.51 1.28 21 0.02 1.60 1 0.53 1.29 22 0.33 1.90 20 0.11 1.30 5 0.44 1.75 25 0.62 2.18 43 0.41 2.07 27 1.03 2.14 71 0.41 1.37 18 0.19 1.18 7 0.60 1.31 25 5.44 1.40 245 1.67 1.59 85 7.11 1.44 330 2.47 1.61 128 0.09 1.51 4 2.56 1.61 132 0.75 1.81 44 0.15 1.23 6 0.90 1.71 50 0 0.21 2.12 14 0.21 2.12 14 0 0.15 2.11 10 0.15 2.11 10 3.22 1.66 171 0.60 1.80 35 3.82 1.68 206 17.0 1.44 787 5.6 1.52 271 22.5 1.46 1,057 Leonora Gold Project Mineral Resources Indicated Resources Resources Inferred Total Resources
Project Area	Lower Cut off (g/t Au)	Indicated Resources			Resources Inferred			Total Resources
		Tonnes (Mt)	Au (g/t Au)	Au (k Oz)	Tonnes (Mt)	Au (g/t Au)	Au (k Oz)	Tonnes (Mt)	Au (g/t Au)	Au (k Oz)
Merondale
Mertons Reward	0.5	2.75	1.37	121	0.36	1.33	15	3.11	1.37	137
Mertondale 3‐4	0.5	2.08	1.50	100	0.48	1.33	21	2.56	1.47	121
Tonto	0.5	2.67	1.18	101	0.18	1.30	8	2.85	1.19	109
Mertondale 5	0.5	0.81	1.83	48	0.22	1.71	12	1.03	1.80	60
Ecliipse*	0.5				1.23	1.39	55	1.23	1.39	55
Quicksiler*	0.5				0.81	1.54	40	0.81	1.54	40
Subtotal Mertondale		8.31	1.39	370	3.28	1.43	151	11.59	1.40	521
Cardinia
Bruno Lewis Link	0.5	1.09	1.30	46	0.72	1.55	36	1.81	1.40	81
Lewis	0.5	2.48	1.21	96	0.22	1.31	9	2.70	1.22	106
Kyte	0.5	0.51	1.28	21	0.02	1.60	1	0.53	1.29	22
Fiona	0.5	0.33	1.90	20	0.11	1.30	5	0.44	1.75	25
Helens**	0.5	0.62	2.18	43	0.41	2.07	27	1.03	2.14	71
Rangoon	0.5	0.41	1.37	18	0.19	1.18	7	0.60	1.31	25
Subtotal Cardinia		5.44	1.40	245	1.67	1.59	85	7.11	1.44	330
Raeside
Michelangelo	0.5	2.47	1.61	128	0.09	1.51	4	2.56	1.61	132
Leonardo	0.5	0.75	1.81	44	0.15	1.23	6	0.90	1.71	50
Forgotten Four*	0.5			0	0.21	2.12	14	0.21	2.12	14
Krang*	0.5			0	0.15	2.11	10	0.15	2.11	10
Subtotal Raeside		3.22	1.66	171	0.60	1.80	35	3.82	1.68	206
TOTAL		17.0	1.44	787	5.6	1.52	271	22.5	1.46	1,057