PATRONUS RESOURCES LIMITED — Investor Presentation 2021

Jun 23, 2021

Cardinia: building a significant gold inventory in a Tier-1 mining district

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 1.23Moz Resource with significant upside

 Multiple new discoveries

ASX: KIN

Investor Presentation – June 2021 Andrew Munckton, Managing Director

 Aggressive exploration approach

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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

This release contains “forward-looking information” that is based on the Company’s expectations, estimates and projections as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to the feasibility and definitive feasibility studies, the Company’s’ business strategy, plan, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, mineral reserves and resources, results of exploration and operational expenses. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as ‘outlook’, ‘anticipate’, ‘project’, ‘target’, ‘likely’,’ believe’, ’estimate’, ‘expect’, ’intend’, ’may’, ’would’, ’could’, ’should’, ’scheduled’, ’will’, ’plan’, ’forecast’, ’evolve’ and similar expressions. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forwardlooking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to the risk factors set out in the Company’s Prospectus dated October 2014.

This list is not exhausted of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intent or obligations to revise any forward-looking statements whether as a result of new information, estimates, or options, future events or results or otherwise, unless required to do so by law. Statements regarding plans with respect to the Company’s mineral properties may contain forward-looking statements in relation to future matters that can be only made where the Company has a reasonable basis for making those statements. This announcement has been prepared in compliance with the JORC Code 2012 Edition and the current ASX Listing Rules. The Company believes that it has a reasonable basis for making the forward-looking statements in this announcement, including with respect to any mining of mineralised material, modifying factors and production targets and financial forecasts.

Competent Person’s Statement

The information contained in this report relating to Resource Estimation results for the Cardinia Hill deposit relates to information compiled by Cube consulting (Mr Mike Millard). Mr Millad is a member of the Australian Institute of Geoscientists and a full time employee of Cube Consulting. Mr Millard 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".

The information contained in this report relating to Resource Estimation results for the remainder of the deposits including Bruno, Lewis, Kyte, Helens, Fiona, Rangoon, Hobby, Mertons Reward, Mertondale 3-4, Tonto, Mertondale 5, Eclipse, Quicksilver, Michaelangelo, Leonardo, Forgotten Four and Krang relates to information compiled by Mr Jamie Logan. Mr Logan is a member of the Australian Institute of Geoscientists and was till recently 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".

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 Millad, Mr Logan and 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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INTRODUCTION │ GROWTH THROUGH EXPLORATION

• ASX-listed gold explorer with strong strategic shareholder base

 Over 32,500m of drilling completed in 1H CY2021 – resulting in multiple new discoveries

• 1.23Moz Mineral Resource base at the 100%-owned Cardinia Gold Project near Leonora

• Major leap forward in geological understanding achieved with recent gravity survey results

• Follow up programs underway

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Aggressive ongoing exploration commitment: ~Phase 5 Program 2H CY2021
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CARDINIA │ STRATEGIC FOOTPRINT

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• 657km[2] land package just 30km from Leonora

• Tier-1 gold mining district (multi-million ounce deposits)

• 1.23Moz JORC Resource hosted in oxide dominant ore zones at three centres; Cardinia, Mertondale and Raeside

• Exploration-driven approach targeting new, larger, higher

• grade gold deposits

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• At Cardinia - Significant new discoveries already made at Cardinia Hill, East Lynne, Eagle/Crow

• At Regional targets - new satellite discovery at Mt Flora in first-pass drilling…… with more in the pipeline

• 32,500m of RC, diamond and air-core drilling completed in 1HCY2021

• Strong news-flow and further Resource growth anticipated

Recent drilling has highlighted the potential for a much larger mineralised system at Cardinia.

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CORPORATE │ STRATEGIC SHAREHOLDERS

ASX: KIN Shareholders

Share price (15 June 2021) Ordinary shares on issue	A$0.13 799.2M
Options (exercise $0.24 - $1.25)	12.0M
Market capitalisation (undiluted) Cash (31 March 2021)	$104.0M $12.7M
Debt	Nil
Liquidity (avg. daily traded shares)	765,000
Board of Directors
Andrew Munckton	Managing Director
Joe Graziano	Chairman
Brian Dawes	Non-Executive Director
Nicholas Anderson	Non-Executive Director
Hansjoerg Plaggemars	Non-Executive Director

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Retail
Institutional
Investors
25%
29%
Directors
2%
High Net
Worths
44%
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12-month share price performance

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0.25
0.2
0.15
0.1
0.05
0
Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21
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TEAM │ EXPERIENCED, CAPABLE AND FOCUSED

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Andrew Munckton Steven Jones Glenn Grayson John Kelly
Managing Director & CEO CFO & Company Secretary Exploration Manager Engineering Manager
Geologist with 35+ • Chartered Accountant • Geologist with 23+ • Engineer with 30+
years experience, with 25+ years years experience years industry
technical and experience, incl. 20+ experience
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• Key consultants Cube Consulting • Respected industry consultants • Specialists in Mineral Resource estimates, optimization, mine design and scheduling

Como Engineers

• Established industry consultants, long history

• Geologist with 35+ years experience, technical and operations, UG and open pit

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• Chartered Accountant
with 25+ years
experience, incl. 20+
years in WA mining
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• Process engineering, metallurgy and construction services

• Extensive experience with resource • Extensive experience development and with operations and extension at Kundana, contract mining in Kanowna Belle, both open pit and Fosterville underground

Jon Standing

• Demonstrated history in Mineral Exploration, Investor Relations, Analytics, Feasibility Studies, Environmental Awareness

• Expert stratigraphic structural and economic geologist

• Previous Managing Director of Avalon Minerals, General Manager Gindalbie Metals

• Comprehensive mapping of the company tenure

• Previous senior • Previous senior positions with positions with Northern Star Resolute, Roche, Resources, Barrick Alcoa, Mt Gibson, and Northgate Sinosteel Midwest Minerals

Southern Geoscience

• Assists with geophysical advice and strategy around acquiring the appropriate field data

• Previously General Manager of Operations Paddington, Kanowna Belle and Kundana

• Previous senior roles at Portman Mining, Aviva, Southern Cross Goldfields and Middle Island Resources

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THE OPPORTUNITY │ MINERIE GREENSTONE BELT

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• Dominant land-holding in under-explored greenstone belt

• Limited deeper drilling, with the bulk of historical exploration focused around known deposits driven by an imperative to “feed the mill”

• New project-wide, data-driven, bottom-up approach has been adopted to target potential new zones of gold mineralisation

• Large alteration systems related to gold mineralisation identified throughout the area

• Detailed understanding of the mineralising system is developing as we build up the science and systematically test our models

Potential for large mineralised system identified within extensive, under-explored greenstone belt. Exploration still at an early stage.

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CARDINIA │ MULTIPLE PROJECTS ADVANCING

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• Eight projects with Mineral Resources totaling 16.3Mt at 1.17g/t Au for 611Koz

• Further eight prospects with exciting exploration results requiring followup.

• Recent high grade discoveries at Cardinia Hill, Eastern Corridor, Eagle and Crow

• Phase 4: Expanded program (Jan to June 21) with focus on:

• Broad-spaced AC drilling at large-scale targets – Eagle Crow

• Initial RC drilling of new high grade targets at Eastern Corridor

• MRE growth from Bruno Lewis and Cardinia Hill

• Phase 5: Mineralised System, Eastern Corridor (July to Nov 21)

• Detailed Gravity survey covering large area under thin cover where soil Geochem is less effective.

• Eastern Corridor where gravity survey has confirmed Intrusion/Fault system model

• MRE growth from Cardinia Hill, Eastern Corridor program

Cardinia is a large mineralised system with multiple deposits

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EASTERN CORRIDOR│SIGNIFICANT AC AND RC RESULTS

• Target area located adjacent to Cardinia Hill, Fiona and Helens deposits -194koz* MRE in four deposits

• Buried felsic intrusions with numerous felsic dykes cross-cut by a number of major N-trending faults. Mapped by detailed gravity survey

• Significant zones of shallow gold mineralisation within and around the intrusion/faults

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17m at 3.20g/t
21m at 3.58g/t
15.8m at 3.77g/t
21m at 6.62g/t
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• High-grade intersections from all locations:

• Helens - 8m at 8.60g/t Au from 88m and 15.8m at 3.77g/t Au from 266m

• Cardinia Hill - 21m at 6.62g/t Au from 37m

• Helens East - 21m at 3.58g/t Au from 45m

• Fiona - 17m at 3.20g/t Au from 31m

• Numerous positions tested in strongly mineralised environment associated with the intrusion/faults

• RC drilling testing both near-surface and deeper targets

• Refer Appendix B for Mineral Resource Estimate details

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CARDINIA HILL │ BROAD, SHALLOW GOLD INTERCEPTS

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• Target area located just 2.5km east

• Discovery Hole CH19AC018 – 9m at 3.05g/t

• Consistent high-grade, near-surface gold mineralisation intersected in RC and diamond drilling to 200m depth

• 100 RC holes and 30 diamond holes drilled since May 2020 produced:  21m at 6.62g/t Au from 53m (CH20RC087)

• 17m at 3.29g/t Au from 10m (CH20RC028)

• 15m at 4.42g/t Au from 34m (CH20RC030)

• 8m at 14.9g/t Au from 194m (CH21RC142)

• 16 holes awaiting assays

• Mineralisation defined over 800m of strike, open to north and at depth

• Sits on Cardinia Hill Fault between porphyry intrusions

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GEOPHYSICS AND DRILLING EASTERN CORRIDOR│

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• Helens, Cardinia Hill, Rangoon to East Lynne is a major mineralised corridor containing N-S faults and porphyry intrusions

• 5.0km long by 1.5km wide with large areas of anomalous soils and numerous ore grade hits in broad spaced AC drilling and high-grade mineralisation at depth at Cardinia Hill and Helens

• Gravity survey identifies position of porphyry intrusions and faults that generate and focus the gold mineralisation.

• High-grade gold away from the know deposits:

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• Target 1 – 2m at 5.96g/t from 35m, 2m at 3.89g/t from 81m

• Target 2 - 14m at 1.41g/t from 6m

• Target 6 – 2m at 4.17g/t from 103m

• Assays for targets 5, 6 and 7 are pending

• Work program

• RC and DD drilling at Rangoon and Fiona targeting porphyry intrusion mineralisation as found at Cardinia Hill

• 5000 assays scheduled to be returned in the next 4-6 weeks

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RC AND DIAMOND DRILLING BRUNO LEWIS│

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• Bruno Lewis – current MRE* of 11.5Mt at 1.01g/t Au for 374koz,

• Large surface footprint 5.0km by 1.0km of ore-grade intersections:

• Hundreds of near-surface holes to 50m depth

• Limited deeper drilling contains high-grade lodes

• Supergene gold above W-dipping (Lewis) and NE-dipping (Bruno) lodes

• Mafic and felsic host with porphyry intrusions

• Recent results:

• 10m @ 10.8g/t Au from 15m, 14m @ 6.09g/t Au from 39m,

• 16m @ 4.15g/t Au from 40m and 11m @ 4.24g/t Au from 74m

• Large gravity survey to map the buried porphyry

• Follow-up program to define the high-grade +4g/t depth extensions

• Refer Appendix B for Mineral Resource Estimate details

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EAGLE - CROW│ NEW MINERALISATION

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• Eagle/Crow lies 2km west of Bruno Lewis, 1km from Kyte

• Strong multi-element soil anomaly with limited drilling:

• 6km by 1km anomaly rich in Au-As-Sb with other spot highs in pathfinder elements

• Limited historical drilling returned high-grade results:

  • 11m at 4.34g/t and 5m at 2.36g/t Au in RC and AC

  • 3m at 27.1g/t and 3m at 4.5g/t Au in RC and AC

  • Old workings with high-grade rock chips

• Recent broad spaced AC drilling showed strong results

  • 8m at 7.9g/t and 4m at 38.8g/t

  • 4m at 8.3g/t, 4m at 2.1g/t and 4m at 3.8g/t

  • Two mineralised zones 600m strike length

• Work program:

• 3100m RC program commenced 18 June 2021

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SATELLITE DISCOVERY MT FLORA│

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• Mt Flora lies 20km east of Cardinia

• Strong multi-element soil anomaly with limited drilling:

• Three areas rich in Au-Ag-Te-W with other spot highs in pathfinder elements

• Maiden AC drilling returned high-grade results:

  • 22m at 8.96g/t and 8m at 2.79g/t Au

  • 8m at 2.47g/t and 13m at 0.97g/t Au

  • 8m at 1.04g/t and 4m at 1.17g/t Au

  • 3 mineralised zones 400m strike length each

• Work program:

• 2000m RC program commencing mid July

• 5500m AC program to test strike extensions of high grade zones

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SUMMARY AND KEY TAKEAWAYS

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Advanced 1.23Moz gold project in an attractive gold mining region with considerable untested exploration potential and significant growth potential

The first drilling of new target areas at Cardinia in a decade has immediately yielded a number of gold discoveries within 5km of the proposed process plant site

New targets have been generated from extensive multi-element soil geochemistry and new gravity survey geophysics

Extensional and in-fill RC and diamond drilling of recent discoveries plus initial metallurgical testwork delivering Mineral Resource estimates growth from new deposits

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$
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Focused on making major discoveries and unlocking the potential of a belt-scale exploration opportunity. Cardinia is a regional-scale mineralised system that exploration continues to unlock.

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THANK YOU │ QUESTIONS

Kin Mining has repositioned from near-term developer to explorer focused on the most value-accretive phase of the mining cycle… exploration and discovery.

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Kin Mining NL Level 1, 342 Scarborough Beach Rd Osborne Park WA 6017

T: 61 8 9242 2227

E: info@kinmining.com.au

ASX: KIN

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KIN MINING NL MINERAL RESOURCES

			Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021	Cardinia Gold Project: Mineral Resources: May 2021
Project Area	Resource Gold Price (AUD)	Lower Cut off (g/t Au)	Measured Resources			Indicated Resources			Inferred Resources			Total Resources			Date Announced
			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)	Tonnes (Mt)	Au (g/t Au)	Au (k Oz)
Mertondale
Mertons Reward	$2,600	0.4				0.9	2.17	66	1.9	0.65	41	2.9	1.15	106	26-Nov-20
Mertondale 3-4	$2,600	0.4				1.4	1.85	81	1.0	0.97	31	2.3	1.48	111	26-Nov-20
Tonto	$2,600	0.4				1.8	1.14	67	1.1	1.24	43	2.9	1.18	111	26-Nov-20
Mertondale 5	$2,600	0.4				0.5	1.67	26	0.8	1.24	32	1.3	1.40	59	26-Nov-20
Eclipse	$2,600	0.4							0.6	1.01	19	0.6	1.01	19	26-Nov-20
Quicksilver	$2,600	0.4							1.1	1.10	39	1.1	1.10	39	26-Nov-20
Subtotal Mertondale						4.6	1.61	240	6.5	0.98	205	11.1	1.24	445
Cardinia
Bruno*	$2,600	0.4	0.3	1.26	10	2.8	1.13	102	1.1	1.05	36	4.1	1.12	148	10-May-21
Lewis*	$2,600	0.4	0.6	1.24	20	4.7	1.00	151	2.1	0.80	55	7.4	0.95	226	10-May-21
Kyte	$2,600	0.4				0.3	1.53	17	0.1	0.92	3	0.4	1.38	20	26-Nov-20
Helens	$2,600	0.4				0.7	2.14	50	0.3	1.94	19	1.0	2.08	69	26-Nov-20
Fiona	$2,600	0.4				0.6	1.35	25	0.2	1.21	8	0.8	1.32	32	26-Nov-20
Rangoon	$2,600	0.4				0.5	1.24	21	0.3	1.07	12	0.9	1.17	32	26-Nov-20
Hobby*	$2,600	0.4							0.5	1.31	22	0.5	1.31	22	10-May-21
Cardinia Hill*	$2,600	0.4							1.2	1.66	61	1.2	1.66	61	18-Dec-20
Subtotal Cardinia			0.8	1.16	30	9.6	1.18	364	5.8	1.15	216	16.3	1.17	611
Raeside
Michaelangelo	$2,600	0.4				1.1	2.00	73	0.4	2.19	25	1.5	2.04	98	26-Nov-20
Leonardo	$2,600	0.4				0.4	2.39	30	0.2	2.20	14	0.6	2.32	44	26-Nov-20
Forgotten Four	$2,600	0.4				0.1	2.09	7	0.1	1.96	6	0.2	2.03	14	26-Nov-20
Krang	$2,600	0.4				0.3	1.74	17	0.0	2.59	2	0.3	1.80	19	26-Nov-20
Subtotal Raeside						2.0	2.04	128	0.7	2.17	47	2.6	2.07	175
TOTAL			0.8	1.16	30	16.2	1.41	732	13.0	1.12	468	30.0	1.28	1231

Notes

 See ASX Announcement 17 May 2021 “Cardinia Gold Project 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

• Totals may not tally due to rounding of values

• Mineral Resources estimated by Jamie Logan of Kin Mining NL and Cube Consulting reported in accordance with JORC 2012 using a 0.4g/t Au cut-off within AUD2,600 optimisation shells

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