Earnings release
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ASX Code: PTN PATRONUS RESOURCES Shares on issue: 1479 million Level 1, 24 Outram Street Market Capitalisation: $71 million WEST PERTH WA 6005 Cash & Liquid Investments: $72M (30 September 2026) P: +61 08 9242 2227 E info@patronusresources.com.au patronusresources.com.au ASX Announcement 27 October 2026 SEPTEMBER 2026 QUARTERLY ACTIVITIES REPORT Highlights Northern Territory Pine Creek Gold Project • Four-hole diamond drilling programme completed at the Tally Ho deposit, with all holes intersecting gold mineralisation including: o 2.61m @ 6.38g/t Au from 454m (TH26DD001), ~200m below historical pit o 3.17m @ 3.32g/t Au from 324.83m (TH26DD003), ~150m below historical pit • Six-hole RC drilling programme completed at the Davies No. 2 prospect, returning significant shallow gold intercepts including: o 10m @ 2.05g/t Au from 52m (GD26RC003) o 9m @ 1.32g/t Au from 77m (GD26RC001) o 6m @ 1.91g/t Au from 50m (GD26RC004) o 2m @ 6.03g/t Au from 27m (GD26RC006) o 3m @ 3.89g/t Au from 57m to end-of-hole (GD26RC006) • First-pass RC drilling within the 5km -long Hydra target area at Burnside North returned significant gold intercepts in HY26RC004, including: o 44m @ 0.76g/t Au from 96m – hole ended in mineralisation – immediate follow-up drilling planned o 3m @ 1.78g/t Au from 27m • Surface sampling defined multiple kilometre-scale gold targets, including: o New 3km-long gold target at Golden Wall, adjacent to the extensive +1Moz Cosmo- Howley trend o Coherent surface anomaly at J25 along the Western Shear Zone, with individual results of up to 0.99g/t Au in soils. o Additional priority targets at Burnside SW and Mt Margaret Corporate • Patronus is well funded, with $72 million in cash and liquid assets at Quarter-end Patronus Resources Managing Director, John Ingram, said:
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“The September Quarter has been a very active period for Patronus Resources, with multiple exploration programs progressing across our Pine Creek Project in the Northern Territory , and generating some exciting results. “Final assay results were reported from diamond drilling at Tally Ho, with results confirming significant high-grade intercepts well below the historical pit and outside the existing Mineral Resource. In addition, the drilling identified a new structural target , providing plenty of momentum to continue building our Mineral Resource inventory at Tally Ho. “Our first drilling campaign at the Davies No. 2 target – part of the Golden Dyke area at Pine Creek – also returned encouraging results, delivering shallow intercepts of high- grade gold mineralisation. This was the first modern exploration programme undertaken at Davies No. 2 in more than 30 years, with follow-up exploration of this and other nearby targets now being planned. “We have also continued to progress our regional exploration initiatives, with a major ongoing surface sampling campaign and RC drilling undertaken over key initial targets. This drilling returned positive results from the Hydra/Hydrellison targets in the Burnside North area and from the Grove Hill target area. “Our surface sampling campaign is proving to be a highly effective tool for target generation, with a strong pipeline of new targets being generated for systematic drill testing as our 2026 field season progresses.” NORTHERN TERRITORY PROJECTS Patronus’ key Northern Territory assets include the 100%-owned 234koz Fountain Head Gold Project, the Hayes Creek VMS Project and the Pine Creek Uranium Project, located within the highly prospective Pine Creek Orogen. The Company also holds an extensive 1 ,500km² land position prospective for gold, base metals and uranium (Figure 1).
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Figure 1: Location of Patronus’ Pine Creek tenure in the Northern Territory. Pine Creek Gold Project Fountain Head – Tally Ho Drill Programme A programme of four diamond exploration holes totalling 1,432.53m was completed at Tally Ho. Tally Ho is part of the Fountain Head area within the Pine Creek Project. The Fountain Head area comprises the Fountain Head, Tally Ho and Glencoe Deposits and hosts a combined Mineral Resource of 234,000oz at 1.4 g/t 1. The primary objective of the programme was to test for a previously unrecognised mineralised zone in the footwall to the Tally Ho lodes. Patronus’ 3D modelling of historical gold intercepts suggests the potential for a new mineralised zone outside of the e xisting resource, referred to as the “Tally Ho Extension”.
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The programme also tested an alternative north-east to south-east mineralisation trend based on 3D observations, core photo interpretations and a field mapping study. Figure 2: Patronus Pine Creek Project tenure showing key project areas. Results from the programme demonstrated the potential for additional mineralisation at depth and identified new structural targets for follow-up drilling. Significant intercepts included: • 2.61m @ 6.38g/t Au from 454m (TH26DD001) • 0.62m @ 7.37g/t from 285.68m (TH26DD001) • 0.30m @ 9.11g/t Au from 293.7m (TH26DD001) • 0.33m @ 8.55g/t Au from 335.98m (TH26DD001) • 0.62m @ 2.84g/t Au from 356.6m (TH26DD001) • 6.0m @ 1.42g/t Au from 225.4m (TH26DD002) • 0.53m @ 11.56g/t Au from 98m (TH26DD002) • 0.65m @ 3.44g/t Au from 272.9m (TH26DD002)
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• 3.17m @ 3.32g/t Au from 324.83m (TH26DD003) • 0.33m @ 12.97g/t Au from 313.67m (TH26DD003) • 3.20m @ 1.35g/t Au from 209.3m (TH26DD003) • 1.0m @ 2.28g/t Au from 235m (TH26DD004) Gold mineralisation is associated with quartz stockwork veining with sulphide alteration and occurs across both greywacke and mudstone units, indicating lithology is not the primary control on mineralisation. The deep intersections in TH26DD001, TH26DD002 and TH26DD003 all occur below the historical pit and outside the current Mineral Resource, providing further support for the interpretation that the mineralisation at Tally Ho extends at depth. The intersection in TH26DD002 also confirms the presence of linking mineralised structures dipping obliquely to the south-west between Fountain Head and Tally Ho.
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Figure 3: Plan view of the Fountain Head area showing recently completed diamond drill holes. The Tally Ho and Fountain Head mineralised trends are shown as dashed red lines, with RC drill target areas outlined in yellow dashed lines.
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Figure 4: Cross-section through the Tally Ho – Fountain Head mineralised system at TH26DD001 showing reported gold intercepts, the existing Mineral Resource Estimate and historical pit outline.
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Figure 5: Cross-section through the Tally Ho – Fountain Head mineralised system at TH26DD002 showing reported gold intercepts, the existing Mineral Resource Estimate and historical pit outline.
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Figure 6: Cross-section through the Tally Ho – Fountain Head mineralised system at TH26DD003 showing reported gold intercepts, the existing Mineral Resource Estimate and historical pit outline. The successful completion of the Tally Ho diamond drilling programme has confirmed the potential to extend mineralisation below the existing Mineral Resource while identifying additional structural targets for follow-up drilling. Geological interpretation, including detailed structural modelling, will now be integrated with the final assay dataset to refine the Company's exploration model and prioritise future drilling. Follow-up RC drilling is planned to test the newly identified linking structures between Fountain Head and Tally Ho, while deeper diamond drilling will be considered to further evaluate the Tally Ho Extension target. Fountain Head – Tally Ho South Drill Programme A programme of 10 RC holes totalling 1,348m was completed at Tally Ho South to test a 200m gap in drilling along the interpreted southern continuation of the Tally Ho mineralised trend. Drilling intersected low-level gold anomalism, including 1m @ 3.69g/t Au from 50m (TH26RC002). The results, together with geological interpretation, do not support a significant continuation of the main Tally Ho mineralised structure to the south.
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Golden Dyke – Davies No. 2 Drill Programme A first-pass Reverse Circulation (RC) drilling programme was completed at the Davies No.2 prospect, part of the Golden Dyke area (Figure 2 and Figure 7) of the Pine Creek Project. Six RC holes were completed for 472m, confirming significant shallow gold mineralisation at Davies No.2. The results are supported by the Company's recent validation of historical drilling results and highlight the potential of the broader Golden Dyke area. Davies is one of at least four known prospects within the 4.3km x 1.8km gold anomaly defined by the Company’s 2025 surface sampling programme. This drilling represents the first test of these targets. The drilling returned the following significant shallow intercepts: • 10m @ 2.05g/t Au from 52m (GD26RC003) • 9m @ 1.32g/t Au from 77m (GD26RC001) • 6m @ 1.91g/t Au from 50m (GD26RC004) • 4m @ 1.46g/t Au from 76m (GD26RC004) • 2m @ 6.03g/t Au from 27m (GD26RC006) • 3m @ 3.89g/t Au from 57m to the end of hole (GD26RC006) Geological logging indicates that the mineralisation is associated with quartz veining and up to 10% visual sulphides, occurring around the contact between the Burrundie Dolerite and fine -grained sediments of the Koolpin Formation. Drilling to date has tested the mineralised system to a vertical depth of less than 100 metres, with the mineralisation remaining open along strike and at depth. Notably, GD26RC006 ended in mineralisation with 3m @ 3.89g/t Au from 57m after the hole was stopped early due to water . The plan is to re-enter the hole when the next round of drilling occurs. Geological interpretation indicates the potential for additional mineralised structures at other dolerite/mudstone contacts. Cross-sections ( Figure 9 and Figure 10) indicate repetition of the mineralised horizon, with two distinct lenses interpreted within each mudstone unit tested to date. 3D geological modelling indicates approximate true widths of 6m for the hanging-wall lode and 3m for the footwall lode.
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Figure 7: Golden Dyke Dome showing historical pits, interpreted geology digitised from Geopecko (1981) mapping and 2025 lag sampling highlighting the surface gold anomaly. Figure 8: Plan view of Davies No.2 showing recent and validated historical drill-holes and the outline of the historical pit. Mineralisation remains open along strike to the north and south. Figure 9: Cross-section A–Aʹ looking north, showing significant drill intercepts and two interpreted mineralised lenses within each mudstone unit. GD26RC003 and GD26RC006 are projected onto the section as the holes were drilled oblique to the section. GD26RC006 was terminated early due to water and ended in mineralisation.
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Figure 10: Cross-section B–Bʹ looking north, showing the significant intercept in GD26RC001 and the interpreted hanging-wall and footwall mineralised lenses. GD26RC002 did not extend deep enough to test the footwall lens. First-pass Drilling of Greenfields Targets Encouraging initial assay results were reported from the Burnside North and Grove Hill areas during the reporting period following first -pass RC drilling of greenfields targets generated from the Company’s 2025 lag sampling programme. Results have been received for 12 of the 26 holes at the Hydra/Hydrellison targets at Burnside North and 16 of the 28 holes at Grove Hill. The results provide an encouraging start to the Company’s first- pass testing of these greenfields target areas, with a significant number of assays from drilling at areas still pending. Burnside North Hydra and Hydrellison are located in the Burnside North target area, on the north- east side of the Burnside Granite. A total of 26 RC holes were completed for 3,668m testing the Hydra and Hydrellison prospects. Results have been received for 12 of the 26 holes. The Hydra prospect was identified as part of the 2025 surface sampling campaign (ASX announcement 6th Oct 2025), with infill results further supporting the area’s prospectivity (ASX announcement 27th Feb 2026). It is located within the volcano -sedimentary sequence of the folded Koolpin Formation, proximal to the Burnside Granite and is crosscut by the NW -trending Pine Creek
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Shear Zone. Hydra is defined by strong multielement surface anomalism, including Au, Cu, As, Mo, Bi, Tl, Pb and Zn, which can be sub-divided into two key areas of Cu-Bi-As and Au anomalism. Within the broader Hydra target area, HY26RC004 returned significant gold mineralisation from a target position within an interpreted ~2.5km geochemical and structural trend. Figure 11: Plan view of Hydra and Hydrellison holes showing recent RC holes with PTN surface sampling. The initial campaign at Hydra used widely spaced first -pass drilling to test discrete target positions across the broader surface anomaly. Given the wide drill spacing, the results do not establish continuity of mineralisation between holes or across the tested extent. Hydrellison is located adjacent to the historical Mt Ellison Cu -Bi mine, on the south side of the Pine Creek Shear Zone. Drill holes at Hydrellison (ME prefix) were drilled on a tighter drill pattern due to their proximity to historical underground workings, which are interpreted from historic reports to extend only approximately 20m below surface. Drilling at both prospects returned the following significant intercepts:
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• 44m @ 0.76g/t Au from 96m (HY26RC004) – hole ended in mineralisation • 3m @ 1.78g/t Au from 27m (HY26RC004) • 1m @ 1.95g/t Au from 23m (HY26RC002) • 1m @ 0.2% Cu from 74m (HY26RC006) • 1m @ 1% Cu from 39m (ME26RC005) The gold intercept in HY26RC004 is in an altered leucocratic granodiorite with observed blue quartz eyes and is interpreted to be broadly axial planar to a fold hinge (Figure 2 and Figure 3). The sulphide mineralisation observed is disseminated and fracture fill pyrite and pyrrhotite. Alteration appears to be sericitic with trace hematite. Routine multi -element analysis, conducted on a 1 -in-10 sample basis, returned higher -grade anomalous copper results in ME26RC005 and HY26RC006. Broader intervals surrounding these samples have been sent for ME ICP-MS analysis to better understand the extent of the anomalism. Figure 12: Cross-section looking west at HY26RC004 showing the wide gold intercept. Note the hole ended in mineralisation. Grove Hill The Grove Hill target area was identified from the 2025 surface sampling campaign (see ASX announcement 6th October 2025), with subsequent in- fill sampling further supporting the area’s prospectivity (ASX announcement 27 February 2026). A total of 28 RC holes were completed for 3,514m, testing three discrete prospects – Moonsault, Full Nelson and Half Nelson – distributed over approximately 2km. The prospects are associated with a north-northwest to south-southeast trending ridge, broadly axial planar to the local fold within the Koolpin Formation and interlayered dolerite.
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Drilling was designed to test discrete target positions on the eastern and western slopes of the ridge where surface gold anomalism coincides with mapped alteration, shearing and localised folding. Results have been received for 16 of the 28 RC holes, with significant gold intercepts including: • 3m @ 2.37g/t Au from 15m (GH26RC002) • 4m @ 0.8g/t Au from 105m (GH26RC014) Surface Sampling Patronus’ 2026 surface sampling programme, which comprises 3,032 planned lag sampling locations, is designed to systematically advance priority targets across the Pine Creek Project. The programme includes in -fill sampling on a nominal 100m × 400m grid to refine previously identified gold anomalies, together with first -pass sampling at the Jessops prospect following wet season access constraints during the 2025 programme. The results are being integrated with regional geochemical datasets and geological interpretations to optimise ongoing RC drilling and prioritise future drill programmes across the Pine Creek Project. Key targets (see Figure 2) refined by surface sampling during the Quarter included: Burnside North area: • Hydra: One of the largest gold anomalies defined to date within Burnside North, with in- fill sampling during the Quarter confirming and expanding coherent gold anomalism over an area of approximately 5km by 2km immediately north of the Pine Creek Shear Zone. The target is located adjacent to the historical Mt Ellison copper mine, which produced approximately 3,300 tonnes grading 20% Cu and 0.1% Bi between 1891 and 1911. • Medusa: A coherent gold anomaly extending over a large area around the Burnside Granite. In- fill sampling returned peak lag sample values of up to 0.56g/t Au while further refining the extent and continuity of the surface anomaly. First -pass RC drilling is planned at this target later in the current field season. Cosmo area: • Golden Wall: A newly defined 3km -long gold target associated with the McMinns Shear and coincident ironstone ridge. Located immediately adjacent to the Cosmo-Howley trend, the target represents a significant new exploration opportunity generated through the Company's systematic surface sampling programme. • Howley NE: A surface gold anomaly immediately northeast of the Cosmo-Howley trend. In-fill lag sampling returned peak gold in soil values of up to 0.60g/t Au, confirming the strength and continuity of the anomaly and supporting follow-up exploration and drill planning.
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Western Flank area: • J25: A coherent surface gold anomaly associated with the Western Shear Zone. Results of up to 0.99g/t Au, together with multiple additional strongly anomalous samples, highlight a compelling new target within a structural corridor that has seen very little modern exploration. Burnside SW area: • This favourable structural and geological setting has resulted in the definition of two coherent target areas Cardamom and Bay Leaf. Mt Margaret • At Mt Margaret, in- fill sampling has further defined the Mountain Goat and Snow Leopard prospects. The Mountain Goat and Snow Leopard anomalies lie within 1km of the Mt Bonnie VMS deposit, indicating this structural corridor has already demonstrated its capacity to host significant mineralisation.
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CARDINIA GOLD PROJECT, WA Patronus holds 667km2 of 100%-owned tenure (Figure 13) across the Minerie Greenstone Belt, part of a region that has yielded multiple multi-million-ounce gold deposits in recent decades The Cardinia Gold Project (CGP) encompasses a +45 km strike length of the Minerie Domain, host to several significant gold deposits. The Company is taking a two -pronged approach to the CGP , running a broad exploration program alongside work to assess near-term mining options. During the Quarter, detailed planning was completed for the next phase of exploration across a number of high-quality targets. Execution of these programs is contingent on completion of heritage agreements and associated approvals, which remain the key gating item for on-ground activity. Figure 13: Overview of Patronus’ Cardinia tenure showing current Resources.
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CORPORATE Divestment of Pine Creek Uranium Rights In June 2026, Patronus entered into a Binding Term Sheet to sell the uranium exploration rights across its Northern Territory Project in the Pine Creek region to Greenvale Energy Limited (ASX: GRV). Under the proposed transaction, Patronus will receive a 19.6% shareholding in Greenvale (valued at ~$5.5M) along with a Board position and a right to support the growth of a dedicated uranium exploration company with a district -scale 2,466km 2 uranium exploration portfolio in the premier Pine Creek Orogen uranium province within the Northern Territory. During the September Quarter, Greenvale shareholders approved the issue of Consideration Shares to Patronus. Patronus is continuing discussions with its joint venture partners to seek the appropriate approvals and consents in order for the proposed transaction to be completed. Cash Position At the end of the September Quarter 202 6, Patronus had $ 72.029 million in cash and liquid investments on hand. This reflects $9.817M in cash, $43.156M in term deposits with a term of less than 12 months and $19.056M in shares in strategic investments. Related Party payments As set out in item 6.1 of the Appendix 5B for the September quarter, payments to related parties consisted of remuneration paid to the Managing Director and payment of non-executive director fees totalling $0.245 million. -ENDS- Authorised for release by the Board of Directors. For further information, please contact: Investor enquiries Media enquiries John Ingram Nicholas Read CEO, Patronus Resources Read Corporate +61 8 9242 2227 +61 419 929 046
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ABOUT PATRONUS RESOURCES LTD Patronus Resources (ASX: PTN) is a leading West Australian and Northern Territory gold, base metals and uranium development and exploration company, with a combined gold Mineral Resource exceeding 1.2Moz gold. Patronus’s 100% owned Cardinia Gold Project (CGP) is located in the highly prospective North-Eastern Goldfields region of Western Australia. The CGP has a 1 Moz gold Mineral Resource defined in both oxide and deeper primary mineralisation at East Cardinia and Mertondale. The Northern Territory Pine Creek Project boasts more than 1,500 square kilometres of prime tenure in the Pine Creek Orogen, which hosts significant gold and world class uranium deposits. Patronus has a current gold MRE of 0.3Moz at its Fountain Head Project and 177kt zinc, 37kt lead, 16Moz silver and 0.2Moz gold at its Iron Blow and Mt Bonnie base metals projects. With a proven track record of monetisation of assets and a strong balance sheet, PTN is poised to deliver strong growth to PTN shareholders throughout this period of transformational growth. COMPETENT PERSONS STATEMENT The information contained in this report relating to exploration results relates to information compiled or reviewed by Leah Moore. Ms Moore is a member of the Australian Institute of Geoscientists and is a full- time employee of the company. Ms Moore 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". Ms Moore consents to the inclusion in this report of the matters based on information in the form and context in which it appears. CAUTIONARY STATEMENT In relation to the disclosure of visual mineralisation, the Company cautions that visual estimates of sulphide material abundance should never be considered a proxy or substitute for laboratory analysis. Laboratory assay results are required to determine the widths and grade of the visible mineralisation reported in preliminary geological logging. The Company will update the market when laboratory analytical results become available.
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Mineral Resources - Gold The information in this table that relates to the Mineral Resources for Mertons Reward, Mert 3-4/Nth and Mert 5 have been extracted from PTN ASX Announcement on 12th Feb 2025 titled ‘Mertondale MRE Update’. Resources for Quicksilver, Eclipse, Tonto and Cardinia East have been extracted from the Company’s ASX announcement on 3 July 2023 titled “Cardinia Gold Project Mineral Resource Passes 1.5Moz” and are available at www.asx.com. Mineral Resources reported in accordance with JORC 2012 using a 0.4 g/t Au cut-off within AUD2,600 optimisation shells1. Underground Resources are reported using a 2.0 g/t cut-off grade outside AUD2,600 optimisation shells. The information in this table that relates to the Mineral Resources for Fountain Head and Tally Ho have been extracted from the ASX announcement of PNX Metals Limited (PNX) on 16 June 2020 titled “Mineral Resource Update at Fountain Head” and are reported utilising a cut-off grade of 0.7 g/t Au and can be found at www.asx.com reported under the ASX code ‘PNX’. The information in this table that relates to the Mineral Resources for Glencoe have been extracted from the PNX ASX announcement on 30th August 2022 titled “Glencoe Gold MRE Update” and are reported utilising a cut-off grade of 0.7g/t Au and can be found at www.asx.com reported under the ASX code ‘PNX’. The information in this table that relates to the Mineral Resources for Mt Porter have been extracted from the PNX ASX announcement titled “PNX acquires the Mt Porter Gold Deposit, NT” on 28th September 2022 and are reported using a cut-off grade of 1.0 g/t Au and can be found at www.asx.com under the ASX code ‘PNX’. The information in this table that relates to the Mineral Resources for Fountain Head, Tally Ho, Glencoe and Mt Porter was also reported in the Scheme Booklet dated 17 July 2024 issued by PNX for the scheme of arrangement between PNX and the shareholders of PNX for the acquisition of PNX by the Company. The Scheme Booklet was released to ASX on 18 July 2024 and can be found at www.asx.com under the ASX codes ‘PTN’ and ‘PNX’. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements referenced in this release continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons findings are presented have not been materially modified from any of the original announcements.
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Mineral Resources – Base Metals Iron Blow Mineral Resource Iron Blow Mineral Resources by JORC Classification as at 03 May 2017 estimated utilising a cut-off grade of 1.0 g/t AuEq. See ASX:PNX release ‘Hayes Creek Mineral Resources Exceed 1.1Moz Gold Equivalent’ 3 May 2017 for details. Mt Bonnie Mineral Resource Mt Bonnie Mineral Resources by JORC Classification as at 08 February 2017 estimated utilising a cut-off grade of 0.5 g/t Au for Oxide/Transitional Domain, 1% Zn for Fresh Domain and 50g/t Ag for Ag Zone Domain. See ASX:PNX release ‘Upgrade to Mt Bonnie Zinc-Gold-Silver Resource, Hayes Creek’ 9 February 2017 for details. Hayes Creek Mineral Resource (Iron Blow + Mt Bonnie) Notes: Due to effects of rounding, totals may not represent the sum of all components. Metallurgical recoveries and metal prices have been applied in calculating zinc equivalent (ZnEq) and gold equivalent (AuEq) grades. At Iron Blow a mineralisation envelope was interpreted for each of the two main lodes, the East Lode (Zn-Au-Ag-Pb) and West Lode (Zn-Au), and four subsidiary lodes with a 1 g/t AuEq cut-off used to interpret and report these lodes. At Mt Bonnie Zn domains are reported above a cut-of grade of 1% Zn, gold domains are reported above a cut-off grade of 0.5 g/t Au and silver domains are reported above a cut-off grade of 50 g/t Ag. To assess the potential value of the total suite of minerals of economic interest, formulae were developed to calculate metal equivalency for Au and Zn. Metal prices were derived from average consensus forecasts from external sources for the period 2017 through 2021 and are consistent with those used in PNX’s recently updated Mt Bonnie Mineral Resource Estimate. Metallurgical recovery information was sourced from test work completed at the Iron Blow deposit, including historical test work. Mt Bonnie and Iron Blow have similar mineralogical characteristics and are a similar style of deposit. In PNX’s opinion all the metals used in the equivalence calculation have a reasonable potential to be recovered and sold. PNX has chosen to report both the ZnEq and AuEq grades as although individually zinc is the dominant metal by value, the precious metals are the dominant group by value and will be recovered and sold separately to Zn. The formulae below were applied to the estimated constituents to derive the metal equivalent values: Gold Equivalent (field = “AuEq”) (g/t) = (Au grade (g/t) * (Au price per ounce/31.10348) * Au recovery) + (Ag grade (g/t) * (Ag price per ounce/31.10348) * Ag recovery) + (Cu grade (%) * (Cu price per tonne/100) * Cu recovery) + (Pb grade (%) * (Pb price per tonne/100) * Pb recovery) + (Zn grade (%) * (Zn price per tonne/100) * Zn recovery) / (Au price per ounce/31.10348 * Au recovery) Zn (%) Pb (%) Cu (%) A g (g/t) Au ( g / t )Zn Eq (%)A uE q (g/t) I ndicated 2.08 5.49 0.91 0.30 143 2.19 13.39 10.08 Inferred 0.45 1.11 0.18 0.07 27 1.71 4.38 3.30 TOTAL 2.53 4.71 0.78 0.26 122 2.10 11.79 8.87 Contained M etal 119kt 18kt 7kt 9.9M oz 171koz 298kt 722koz T onnes ( Mt ) Gra deJORC Classification Zn (%) Pb (%) Cu (%) A g (g/t) Au ( g / t )Zn Eq (%)A uE q (g/t) I ndicated 1.38 3.96 1.15 0.23 128 1.41 9.87 8.11 Inferred 0.17 2.11 0.87 0.16 118 0.80 6.73 5.53 TOTAL 1.55 3.76 1.12 0.22 127 1.34 9.53 7.82 Contained M etal 58kt 17kt 3kt 6.3M oz 69koz 147kt 389koz JORC Classification T onnes ( Mt ) Gra de Zn (%) Pb (%) Cu (%) A g (g/t) Au ( g / t )Zn Eq (%)A uE q (g/t) I ndicated 3.46 4.88 1.01 0.27 137.00 1.88 11.99 9.29 Inferred 0.62 1.39 0.37 0.10 52.00 1.46 5.03 3.91 TOTAL 4.08 4.35 0.91 0.25 124.00 1.81 10.93 8.47 Contained M etal 177kt 37kt 10kt 16M oz 238koz 445kt 1,110koz JORC Classification T onnes ( Mt ) Gra de
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Zinc Equivalent (field = “ZnEq”) (%) = (Au grade (g/t) * (Au price per ounce/31.10348) * Au recovery) + (Ag grade (g/t) * (Ag price per ounce/31.10348) * Ag recovery) + (Cu grade (%) * (Cu price per tonne/100) * Cu recovery) + (Pb grade (%) * (Pb price per tonne/100) * Pb recovery) + (Zn grade (%) * (Zn price per tonne/100) * Zn recovery) / (Zn price per tonne/100 * Zn recovery) The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements referenced in this release continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons findings are presented have not been materially modified from any of the original announcements.
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Tenement ID Ownership Change Tenement ID Ownership Change at end of Quarter During Quarter at end of Quarter During Quarter M39/279 66.66% M37/1316 100% M39/1121 100% M37/1343 100% M39/1136 0% Application M37/1450 0% Application M39/1141 0% Application M37/1451 0% Application P39/5112 100% P37/8966 100% P39/5113 100% P37/8968 100% P39/5176 100% P37/8969 100% P39/5177 100% P37/8970 100% P39/5178 100% P37/9320 100% P39/5179 100% P37/9321 100% P39/5180 100% P37/9322 100% P39/5861 100% P37/9323 100% P39/5862 100% P37/9324 100% P39/5863 100% P37/9325 100% P39/5864 100% Ownership Change at end of Quarter During Quarter M37/1327 100% P37/9659 100% P37/9660 100% P37/9661 100% P37/9662 100% P37/9663 100% Ownership Change Ownership Change at end of Quarter During Quarter at end of Quarter During Quarter L37/195 100% P37/8795 100% L37/196 100% P37/8938 100% L37/226 100% P37/8947 100% L37/232 100% P37/8988 100% L37/241 100% P37/8989 100% L37/244 100% P37/8990 100% M37/81 100% P37/8991 100% M37/82 100% P37/8992 100% M37/88 100% P37/8993 100% M37/223 100% P37/8994 100% M37/231 100% P37/8995 100% M37/232 100% P37/8996 100% M37/233 100% P37/8997 100% M37/299 100% P37/8998 100% M37/316 100% P37/8999 100% M37/317 100% P37/9000 100% M37/422 100% P37/9001 100% M37/487 100% P37/9002 100% M37/720 100% P37/9003 100% M37/1284 100% P37/9004 100% M37/1303 100% P37/9008 100% M37/1304 100% P37/9009 100% M37/1315 100% P37/9010 100% M37/1318 100% P 37/9060 100% M37/1323 100% P 37/9061 100% M37/1325 100% P37/9125 100% M37/1328 100% P37/9126 0% -100% M37/1329 0% P37/9127 0% -100% M37/1330 0% P37/9128 100% M37/1332 100% P37/9129 100% M37/1333 100% P37/9130 100% M37/1340 100% P37/9131 100% Tenement ID CARDINIA / MERTONDALE 35 kms East & North East of Leonora Townsite, Western Australia Tenement ID PATRONUS RESOURCES LIMITED TENEMENT SCHEDULE 30-Sep-26 KIN EAST PTY LTD TENEMENT SCHEDULE (a wholly owned subsidy of Patronus Resources Limited) TENEMENT INFORMATION AS REQUIRED BY LISTING RULE 5.3.3 MURRIN MURRIN TENEMENT INFORMATION AS REQUIRED BY LISTING RULE 5.3.3 RANDWICK 45 kms North East of Leonora, Western Australia 50 kms East of Leonora, Western Australia KIN WEST WA PTY LTD TENEMENT SCHEDULE (a wholly owned subsidy of Kin Patronus Resources Limited) IRON KING 45 kms North North West of Leonora, Western Australia Tenement ID TENEMENT INFORMATION AS REQUIRED BY LISTING RULE 5.3.3 NAVIGATOR MINING PTY LTD TENEMENT SCHEDULE (a wholly owned subsidy of Patronus Resources Limited)
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M37/1342 100% P37/9132 100% M37/1345 100% P37/9133 100% M37/1358 100% P37/9134 100% M37/1383 0% Application P37/9135 0% -100% M37/1384 0% Application P37/9136 0% -100% M 37/1407 0% Application P37/9137 0% -100% M 37/1408 0% Application P37/9158 0% -100% M 37/1409 0% Application P37/9166 100% M 37/1414 0% Application P37/9170 100% M 37/1410 0% Application P37/9171 100% M 37/1452 0% Application P37/9172 100% M 37/1453 0% Application P37/9173 100% M 37/1454 0% Application P37/9221 100% M 37/1455 0% Application P37/9222 100% M37/1456 0% Application P37/9223 100% M37/1457 0% Application P37/9224 100% M37/1467 0% Application P37/9225 100% M37/1468 0% Application P37/9226 100% M37/1469 0% Application P37/9227 100% E37/1225 100% P37/9228 100% E37/1636 0% Application P37/9229 100% P37/8536 100% P37/9230 100% P37/8537 100% P37/9231 100% P37/8538 100% P37/9232 100% P37/8539 100% P37/9326 100% P37/8540 100% P37/9327 100% P37/8541 100% P37/9328 100% P37/8542 100% P37/9411 100% P37/8543 100% P37/9509 100% P37/8737 100% P37/9510 100% P37/8738 100% P37/9511 100% P37/8739 100% P37/9541 100% P37/8740 100% P 37/9543 100% P37/8741 100% P 37/9544 100% P37/8742 100% P 37/9545 100% P37/8743 100% P 37/9546 100% P37/8744 100% P 37/9598 100% P 37/8762 100% P 37/9599 100% P 37/8763 100% P 37/9600 100% P 37/8764 100% P 37/9601 100% P 37/8765 100% P37/9750 100% P 37/8766 100% P37/10138 0% Application
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Ownership Change Tenement ID Ownership Change at end of Quarter During Quarter at end of Quarter During Quarter EL10012 90% EL33217 100% EL10120 100% EL10347 90% EL23431 90% EL23509 100% EL23536 90% Ownership Change EL23540 90% at end of Quarter During Quarter EL23541 90% EL24715 90% EL24018 90% EL24051 90% EL24058 90% EL24351 90% EL24405 90% Ownership Change EL24409 90% at end of Quarter During Quarter EL25120 100% ML23839 100% EL25295 90% EL25379 100% EL27363 100% EL31099 100% EL31893 100% Ownership Change EL32489 100% at end of Quarter During Quarter EL33479 100% EL25054 90% EL33536 0% Application EL28902 90% EL33713 90% ML30293 90% EL33718 100% EL33784 100% EL33878 0% Application EL9608 90% ML29679 100% ML29933 80% ML29937 80% ML30512 100% ML30936 100% ML31124 100% ML33743 100% ML33882 100% ML33883 100% ML33897 100% MLN816 100% Tenement ID (a wholly owned subsidy of Patronus Resources Limited) TENEMENT INFORMATION AS REQUIRED BY LISTING RULE 5.3.3 Tenement ID CHESSMEN MT PORTER / HARRIET CREEK 20 kms North and East of Pine Creek, Northern Territory PNX METALS LIMITED TENEMENT SCHEDULE Tenement ID BURNSIDE / HAYES CREEK 60 kms Northwest of Pine Creek, Northern Territory Tenement ID 20 kms East of Katherine, Northern Territory 20 kms Southwest of Pine Creek, Northern Territory STRAY CREEK MT MASSON 40 kms North of Pine Creek, Northern Territory