PATRONUS RESOURCES LIMITED — Management Reports 2016

Sep 28, 2016

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KIN MINING – CEO LETTER

Kin Mining NL (ASX: KIN) today released a letter to shareholders from its recently appointed Chief Executive Officer, Mr Don Harper.

In the letter, Mr Harper outlines his vision and plans for the Company.

“My primary goal is to navigate your company successfully from explorer to gold producer,” said Mr Harper.

“I plan to translate my efforts into shareholder returns throughout this journey, so you can be as excited about your investment in Kin Mining as I am to lead the Company,” he said.

“With such strong fundamentals and a $5 million rights issue underway that will fully fund us through to completion of a DFS and decision to mine, the future is very bright for Kin.”

Kin Mining is committed to communicating with shareholders directly and in a cost effective manner. The Company would like to take this opportunity to encourage shareholders to register their contact details on the Kin website, under the ‘Contact Us’ page, to receive further updates and invitations to corporate events electronically.

A copy of the shareholder letter follows this announcement and can be found on the Kin website.

-ENDS-

For further information, please contact:

Don Harper Anna Staples CEO Director Kin Mining NL AMN Corporate +61 8 9242 2227 +61 (0) 400 205 433

About Kin Mining NL

Kin Mining (ASX: KIN) is an emerging gold development company with a significant tenement portfolio in the Eastern Goldfields of Western Australia. Through exploration success and selective acquisition, the Company aims to become a profitable, high-margin Australian gold producer. The immediate focus of the Company is completing an updated pre-feasibility study at its flagship Leonora Gold Project (100%), containing a JORC resource of 722koz, by the end of the calendar year.

Kin’s exploration is targeting near-mine and prospects within the transport corridor linking further discovery to a proposed independent processing plant located at the Leonora Gold Project. Kin aims to fund its regional exploration at its extensive and highly prospective project portfolio with an ongoing focus of limiting dilution.

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Competent Persons Statement

The information contained in this report relates to information compiled or reviewed by Don Harper who is a Fellow of the AusIMM, Paul Maher who is a member of the AusIMM and Mr. Simon Buswell-Smith who is a Member of the Australian Institute of Geoscientists (MAIG), all are employees of the company and fairly represents 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 a Competent Person as defined in the 2012 edition of the “JORC Australian code for reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Harper, 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.

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.

Directors:

Terry Grammer Trevor Dixon Chairman Executive Director

Fritz Fitton Joe Graziano Technical Director Non-Exec Director & Co. Sec.

Contact:

Office

Post

Level 1, 342 Scarborough Beach Road Osborne Park, Western Australia 6017 T: 08 9242 2227 E : info@kinmining.com.au ACN: 150 597 541

PO Box 565 Mt Hawthorn, Western Australia 6915

Web: www.kinmining.com.au

SHARES on Issue: 90,662,891 Unlisted Options: 13,775,000

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29 September 2016

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Dear Shareholder,

It has been two months since my appointment as your new Chief Executive Officer and I wanted to further introduce myself and outline my vision and plans for Kin Mining.

I am a mining engineer and graduate from the WA School of Mines in Kalgoorlie. After working in Africa and South East Asia in recent years, it is a pleasure to return home.

As I gain a deeper understanding of our flagship Leonora Gold Project, it is appropriate to communicate to you, as an owner of this company, the genuine opportunities I see ahead for value creation. These are the same unique characteristics that drew me to Kin Mining and continue to motivate me daily.

My primary goal is to navigate your company successfully from explorer to gold producer. I plan to translate my efforts into shareholder returns throughout this journey, so you can be as excited about your investment in Kin Mining as I am to lead the company.

Kin Mining has an enviable and significant tenement portfolio in the Eastern Goldfields of Western Australia. While the Company is somewhat spoiled for choice, the immediate focus is completing the updated pre-feasibility study at our flagship Leonora Gold Project (100%), containing a JORC resource of 722koz, by the end of the calendar year. The aim of the pre-feasibility study is to develop a roadmap that focuses on ounces which make money.

Simultaneously, our exploration strategy is to target near-mine prospects within the transport corridor, linking further discovery to a proposed independent processing plant located at the Leonora Gold Project.

While maintaining our focus of becoming a profitable, high-grade, low cost Australian gold producer, we look forward to supporting the community in which we operate.

I genuinely believe Kin has all the right fundamentals to deliver superior growth.

The right product – gold

There is no doubt it is a good time to be an Australian gold producer – or in our case, an emerging gold producer. I believe in a positive future for gold.

At an improved gold price of A$1700, the Leonora Gold Project scoping study demonstrated a net present value of $105 million and a capital payback of 30 months. Importantly, the economics of the project remain robust at a gold price of A$1500 with a net present value of A$56.3 million.

As you would be aware, Kin’s share price rose sharply from 10 cents in early May 2016 to a high of 32 cents (up 220%) by mid-year. The re-rating launched Kin out of a self-induced period of conservative ‘hibernation’ and underpinned new exploration programs to drive further growth. Now is our time to excel.

ASX: KIN

The right people – Terry Grammer, Trevor Dixon, Fritz Fritton, Joe Graziano

Kin has already proven its ability to deliver value. To the credit of the board and management team, while most gold companies were selling assets in the bottom of the bear market (2013), Kin was building itself up, listing on the ASX, and acquiring assets when prices were low.

I feel privileged to be associated with such a credible group of experienced executives with proven track records. Non-Executive Chairman Terry Grammer’s remarkable performance of delivering returns for investors speaks for itself. I encourage you to review the biographies of our board and senior executives, which was certainly a selling point in my decision to join the company. Without going into detail, Executive Director Trevor Dixon has spent 30 years in the Leonora district and was a founding vendor to Jubilee Mines ( Jubilee sold to Xstrata for more than $3 billion in 2007), Non-Executive Director and veteran geologist Fritz Fritton has over 40 years of technical experience in the Leonora area, and Company Secretary Joe Graziano has over two decades of financial and corporate governance experience. The significant credentials of the board and management team, in particular their local knowledge, extensive contacts, and relationships with traditional landowners, in the well-endowed region of Leonora, represent a very unique competitive advantage.

While the resources sector has experienced a period of recovery this year, Kin outperformed its peers by delivering a total shareholder return of 186% for the six months to September compared to 107% for the S&P/ASX All Ordinaries Gold Index (XGD).

The right location – Leonora, Western Australia

I can’t imagine a better jurisdiction to develop a gold mine operation than Leonora.

Gold is hard to find – however, Kin is positioned in one of the most prospective gold districts in Australia. The Leonora district, about 240km north of Kalgoorlie, has a regional endowment of over 13 million ounces and I believe we have only scratched the surface.

The right strategy – sensible growth

We have a clear focus and credible strategy for success. Simply put, we aim to:

• Advance Leonora Gold Project to full production – becoming a 50koz per annum low-cost junior gold producer within 18 months and a mid-tier producer in the long term.

• Increase our resources – targeting +1 million ounces via resource extensions in 2017 and utilising cash flow to fund future exploration.

• Self-fund aggressive exploration – utilising cash flow from production to advance exploration at the Leonora Gold Project and Gwalia South tenements, continuing a capital spend discipline, and being mindful of dilution for shareholders.

• Expand investor reach in Australia – while meeting these growth objectives, we need to ensure the capital markets are fully informed of our progress. Therefore, we will be enhancing our engagement with the investment community to help build our profile and maximise valuations.

With such strong fundamentals and a $5 million rights issue underway that will fully fund us through to completion of a DFS and decision to mine, the future is very bright for Kin.

I see my role as CEO as extremely challenging, but also very rewarding. I am committed to delivering on our objectives, meeting your expectations, maintaining open communication, and delivering the value creation you deserve for believing in the Kin story.

Thank you for your support.

Don Harper Chief Executive Officer, Kin Mining NL

www.kinmining.com.au