PATRONUS RESOURCES LIMITED — Major Shareholding Notification 2014

Nov 5, 2014

Form 603Corporations Act 2001Section 671 B
Notice of initial substantial holder
To: Company Name/Scheme	Kin Mining N.L.
ACN/ARSN	ACN 150597541
1. Details of substantial holder (1)
Name	Waterton Global Value, L.P.
ACN/ARSN (if applicable)
The holder became a substantial holder on03/11/2014

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
Ordinary	2,500,000	2,500,000	5.45%(based on 45,852,850ordinary shares currently onissue)

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interests	Nature of relevant interest (7)	Class and number ofsecurities
Waterton Global Value, LP.	Holder of the securities issued pursuant to a deed ofvariation, share sale agreement dated 8 September2014 between Navigator Resources Limited(subject to deed of company arrangement) as sellerand Kin Mining N.L. as buyer and a second deed ofvariation, share sale agreement dated 3 November2014 between those parties.	Ordinary Fully Paid2,500,000

4. Details of present registered holders

The persons registered as holders ofthe securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder ofsecurities	Person entitled to beregistered as holder (8)	Class and number ofsecurities
Waterton Global Value, LP.	Waterton Global Value, L.P.	Waterton Global Value, L.P.	Ordinary Fully Paid2,500,000

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9)	Class and number ofsecurities
Waterton Global Value, LP.	3/11/14	$0.15 per share	Ordinary Fully Paid2,500,000

I 6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association

7. Addresses

The addresses of persons named in this form are as follows:

	Name	Address
	Waterton Global Value, L.P.	Nemours Chambers, 4th Floor, Road Town, Tortola, British Virgin Islands
	( \
	Signature
	p~lprint name	~OLIcapacityAuthorised signatory
	sign here	~05 IIIIdate2014
		DIRECTIONS
(1)		If there are a number of substantial holders with similar or related relevant issues (eg. a corporation and its related corporations, or themanager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group ofpersons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group,with the names and addresses of members is clearly set out in paragraph 7 of the form
(2)	See the definition of "associate" in section 9 of the Corporations Act 2001.
(3)	See the definition of "relevant interest" in sections 608 and 671 B(7) of the Corporations Act 2001.
(4)	The voting shares of a company constitute one class unless divided into separate classes.
(5)	The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or anassociate has a relevant interest in.
(6)	The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
(7)	Include details of:
	any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671 B(4) applies, a copy of(a)any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of anycontract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme orarrangement; and
	(b)applies).	any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of the voting powers ordisposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification
	See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.
(8)	If the substantial holder in unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write"unknown".
(9)	Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquiredhas, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on thehappening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relationto the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.