Investor Presentation - Extended Life of Mine Plan
Released
Released
Announcement PDF
MINERAL HILL
LIFE OF MINE
UPDATE
GOLD AND COPPER PRODUCER
SEPTEMBER 2024
www.kingstonresources.com.au I ASX: KSN
Important notices and disclaimer
Forward Looking Statements
Mineral Hill Gold Bar
Certain statements contained in this presentation, including information as to the future financial or operating performance of KSN and its projects, are
forward looking statements. Such forward looking statements: include, among other things, statements regarding incomplete and uncertain proposals or
targets, production and prices, operating costs and results, capital expenditures, and are or may be based on assumptions and estimates related to future
technical, economic, market, political, social and other conditions; are necessarily based upon a number of estimates and assumptions that, while considered
reasonable by KSN, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies; and
involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or
results reflected in such forward looking statements.
KSN disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or
otherwise. The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “scope”, “plan”, “intends”, “continue”, “budget”, “estimate”,
“may”, “will”, “schedule” and similar expressions identify forward looking statements. All forward looking statements made in this presentation are qualified
by the foregoing cautionary statements. Recipients are cautioned that forward looking statements are not guarantees of future performance and accordingly
investors are cautioned not to put undue reliance on forward looking statements due to the inherent uncertainty therein.
Disclaimer
No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and
conclusions contained in this presentation. To the maximum extent permitted by law, none of KSN, its directors, employees or agents, nor any other person
accepts any liability, including, without limitation, any liability arising out of fault of negligence, for any loss arising from the use of the information contained
in this presentation. In particular, no representation or warranty, express or implied is given as to the accuracy, completeness or correctness, likelihood of
achievement or reasonableness or any forecasts, prospects or returns contained in this presentation nor is any obligation assumed to update such
information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies.
The information contained in this presentation is for informational purposes only and does not constitute an offer to issue, or arrange to issue, securities or
other financial products. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the
basis for making an investment decision. The presentation has been prepared without taking into account the investment objectives, financial situation or
particular needs of any particular person. Before making an investment decision, you should consider, with or without the assistance of a financial adviser,
whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. Past performance is no guarantee
of future performance.
For further information on the Life of Mine at Mineral Hill referred to in this Presentation, refer to the Company’s ASX Announcement dated 27 June 2023 and
30 September 2024
www.kingstonresources.com.au I ASX: KSN
Mineral Hill: Life of Mine Update | Sep 2024
2
Important notices and disclaimer
Exploration by Other Explorers
This presentation contains information sourced from the reports of other Explorers.
References to the original reports are provided as footnotes where the information is
cited in this presentation. KSN does not vouch for the accuracy of these reports. KSN
has taken the decision to include this information as it is in the public domain and as
we assess it to be of relevance to shareholders and investors.
Production Target
The LOM plan includes Mineral Resource Estimates for Pearse pits, the Southern Ore
Zone (SOZ) and Jack’s Hut to estimate the Production Target. All Ore Reserves and
Mineral Resources underpinning this LOM plan have been prepared by Competent
Persons in accordance with the 2012 JORC reporting guidelines. The Production
Target comprises 51% Ore Reserves, 11% Measured & Indicated Resources and 38%
Inferred Resources. The first 12 and 36 months of the Production Target are
underpinned by 89% and 80% of Measured and Indicated Resources respectively
There is a low level of confidence associated with Inferred Mineral Resources and
there is no certainty that further exploration work will result in the determination of
Indicated Mineral Resources or that the production target itself will be realised.
The stated production target is based on the Company’s current expectations of
future results or events and should not be solely relied upon by investors when making
investment decisions. Further evaluation work and appropriate studies are required to
establish sufficient confidence that this target will be met. The Company notes that
the Project forecasts a positive financial performance and is therefore satisfied that
the use of Inferred resources in production target reporting and forecast financial
information is not the determining factor in overall Project viability and that it is
reasonable to report the LOM plan with Inferred Resources.
The Company has concluded that it is has a reasonable basis for providing the
forward-looking statements included in this announcement. The detailed reasons for
that conclusion are outline throughout this presentation.
www.kingstonresources.com.au I ASX: KSN
Mineral Hill: Life of Mine Update | Sep 2024
3
Kingston Resources: Investment highlights
Extended Mine Life to 2030+: Maiden underground Ore
Reserve extends life of mine beyond six years, boosting
payable metal1,2.
Mineral Hill Processing Plant: Operating at Full
Capacity, weekly gold/silver dore sales. With copper
production from underground in FY26
Expansion: Exploring new deposits, expanding mine
plan through exploration and acquisition.
Strategic Advantage: Growth options in Cobar Basin,
high-value Misima Gold Project.
1. See ASX Announcement dated 2 April 2024 , 27 June 2023 & 30 Sept 2024, for further detail and key assumptions
2. See KSN ASX announcements on 6 June 2022 for further detail
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Mineral Hill: Life of Mine Update | Sep 2024
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Corporate snapshot
1-Year Share Price Performance
Shares on issue
707m
Warrants & options2,3
98.7m
Share price @ 29 September 2024
$0.086
Market cap @ 29 September 2024
$61m
Cash @ 30 June 20241
$8.36m
Restricted cash for environmental bond
$7.4m
Debt4
$15m
Market Volume('000) RHS
Close Price (A$) (LHS)
0.1
0.09
0.08
0.07
0.06
0.05
0.04
0.03
0.02
0.01
0
10000
8000
6000
4000
2000
0
Shareholder Structure
Delphi 15%
Quintana 9.4%
Winchester 9.1%
Farjoy 6.7%
Other 59.8%
1. Estimated Cash balance, as at 30 June 2024, excludes $7.4m cash backed environmental bond.
2. 38m unlisted options @ $0.14, exp 31 July 25.
3. 25m unlisted warrants @ $0.20, exp 07 July 2027, 35.7m unlisted warrants @ $0.14 exp 29 June 2028. Exercise price of the
warrants to be repriced to $0.0847 subsequent to shareholder approval at the next meeting of shareholders.
4. Debt payback - $5m matures 7 July 2026, $5m matures 29 June 2027, $5m matures 23 February 2027.
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Mineral Hill: Life of Mine Update | Sep 2024
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Mineral Hill
Extended Life of Mine
Plan
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Mineral Hill: Life of Mine Update | Sep 2024
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Kingston extends Mineral Hill Mine life out to 2030
Six-year mine life extension with updated Ore Reserves 1,2
Pearse North open pit mining operations
• Extended Mine Life: Life of mine now six
years, extended to +2030.
• Increased Ore Reserves: Increase open pit
Reserves, plus maiden underground Ore
Reserves.
• Enhanced Financial Certainty: Higher gold
price and detailed engineering and
metallurgical studies.
• Balanced Production Strategy: Combination
of open pit and underground mining.
1. See ASX Announcement dated 2 April 2024 , 27 June 2023 & 30 Sept 2024, for further detail and key assumptions
2. See KSN ASX announcements on 6 June 2022 for further detail
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Mineral Hill: Life of Mine Update | Sep 2024
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Updated Open Pit Ore Reserve – higher gold price
Pearse North changes have added 39% more gold1
• Updated Open Pit Ore Reserve based on:
• Revised Mineral Resource estimate for Pearse North.
• Gold price increased from A$2,571/oz to A$2,859/oz.
• Pearse North metallurgy based on new test work.
• Additional 110kt of ore. Gold increased 39% to 43koz.
Tonnes
mt
Grade
Au g/t
Grade
Ag g/t
Metal
Au koz
Metal
Ag koz
Pearse North
0.24
3.2
33
24
250
Pearse South
0.13
4.3
85
19
370
Total Open Pits
0.37
3.6
52
43
620
Reserve*
* Due to rounding to appropriate significant figures, minor discrepancies may occur, tonnages are dry metric tonnes.
1. See ASX Announcement dated 30 September 2024
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Pearse North and South pit designs
Mineral Hill: Life of Mine Update | Sep 2024
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Maiden Underground Ore Reserve
Significantly improved metallurgy resulting in
more payable metal
• Copper and gold recovery increased to 88% and 81%
respectively2.
• LOM AuEq payable ounces increased from 123koz to 200koz.
• Existing underground development and flotation plant
minimises capital costs.
Southern Ore Zone Underground Mineral Resources3
Class
Tonnes
kt
Cu
%
Pb
%
Zn
%
Au
g/t
Ag
g/t
Cu
kt
Pb
kt
Zn
kt
Au
koz
Ag
koz
Total
3,776 1.0
1.3
1.1
1.83
17 37
51
40
222 2,038
Southern Ore Zone Underground Ore Reserve3
Class
Tonnes
kt
Cu
%
Pb
%
Zn
%
Au
g/t
Ag
g/t
Cu
kt
Pb
kt
Zn
kt
Au
koz
Ag
koz
Probable
700 0.8
1.9
1.6
1.4
20 5.5
13
11
30
450
1.
2.
3.
See ASX Announcement dated 30 September 2024
In comparison to the 30 September 2024 ASX Production Target forecast to the 27/06/2023 ASX Production Target.
Due to rounding to appropriate significant figures, minor discrepancies may occur, tonnages are dry metric tonnes.
www.kingstonresources.com.au I ASX: KSN
Long-hole open stopes
Oblique view of the Southern Ore Zone planned stopes
Mineral Hill: Life of Mine Update | Sep 2024
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Production Target extending Mineral Hill to 2030
Underground mining scheduled out to 2030, six years. 1
• Six-year life of mine with highly versatile processing
plant.
• Total open pit and underground Ore Reserves
increased to 1.1Mt.
• Copper and gold comprise 85% of the payable metal
in AuEq terms.
Open Pit
UG Ore
Production Target
Ore Reserve
Mineral Resource
Ore Reserve
Mineral Resource
Total Life of Mine
Annual Processing Rate
Payable Gold
Payable Copper
Payable Silver
Payable Lead
Payable Zinc
1.
Mt
Mt
Mt
Mt
Mt
ktpa
koz
kt
koz
kt
kt
0.35
0.19
0.7
1.0
2.2
380
117
12
858
11
6
Payable Metal (koz AuEq)
45
40
35
30
25
20
15
10
5
-
40
36
24
24
FY25
FY26
FY27
Copper
Silver
Gold
FY28
Lead
Zinc
36
36
FY29
FY30
AuEq oz
LOM forecast of payable metal
Calendar Year
2024
2025
2030 +
Open pit mining (Pearse)
Underground resource drilling
Underground mining
See ASX Announcement dated 30 September 2024.
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Mineral Hill: Life of Mine Update | Sep 2024
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Kingston group level growth strategy
Three focal points – grow cash, increase scale, realise value from Misima
1. Grow Cash
• Maximise throughput and margins.
• Capitalise on upside opportunities.
2. Increase Scale at Mineral Hill
• Exploration.
• Regional acquisition.
• Expand the plant.
3. Realise Value from Misima
• Open pit mining and processing is generating cash flow.
• Underground drilling to commence in Q1 2025.
• Potential crystallisation of Misima value through a sale or
JV deal could realise shareholder value and spur additional
growth.
• Fully functional plant increases scope to add regional
deposits and increase scale.
• Sale / JV.
• Progress to production.
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Mineral Hill: Life of Mine Update | Sep 2024
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Grow cash with open pit mining
Plant now operating at 400ktpa throughput rate1
Mining Oxides:
Mining open pit
oxides for dore
production.
Consistent
Performance:
Crushing /
grinding now
exceeding
nameplate.
Upside on Gold
Recovery:
Gold recovery
exceeding
budget of 85%.
Cash Flow:
Steady income
from weekly
gold and silver
dore sales.
Daily Throughput (t)
1,400
1,200
1,000
800
600
400
200
0
18-Sep
17-Sep
16-Sep
15-Sep
14-Sep
13-Sep
12-Sep
11-Sep
10-Sep
9-Sep
8-Sep
7-Sep
6-Sep
5-Sep
4-Sep
3-Sep
2-Sep
1-Sep
31-Aug
30-Aug
29-Aug
28-Aug
27-Aug
26-Aug
25-Aug
24-Aug
23-Aug
22-Aug
21-Aug
20-Aug
19-Aug
18-Aug
17-Aug
16-Aug
15-Aug
Mineral Hill gold/ silver dore (20% gold and 78% silver by weight)
1. See ASX Announcement dated 19 September 2024
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Mineral Hill: Life of Mine Update | Sep 2024
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Increase scale at Mineral Hill
Strategy on expanding Mineral Resources within the mine
EOZ high
grade Au
target
• Mineralisation over
2.5km.
GD140
target
Parkers Hill
MRE update and
extensions
• Multiple ore bodies.
Red Terror
target
• Existing development
in place.
Jacks Hut
Infill & Extension
SOZ MRE1
update
Mineral Resource Estimate for the Southern Ore Zone, September 20242
Tonnes (Mt)
Au g/t
Ag g/t
Cu %
Pb %
Zn %
3.80
1.29
19
0.9
1.6
New Lode
Extension
1.4
Mineral Resource Estimate for Jack’s Hut, 21 March 20232
Tonnes (Mt)
Au g/t
Ag g/t
Cu %
Pb %
Zn %
1.60
1.25
20
0.9
0.8
0.6
G-H Lode Infill
Mineral Resource Estimate for Parker’s Hill
Tonnes (Mt)
Au g/t
Ag g/t
Cu %
Pb %
Zn %
1.80
0.19
43
1.3
2.1
0.9
1. MRE – Mineral Resource Estimate
2. See ASX Announcement dated 21 March 2023 and 30 September 2024 for MRE announcements
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Mineral Hill: Life of Mine Update | Sep 2024
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Adding inventory with near mine exploration
Near mine advanced targets
on EL8334
4
Near Mine Targets
5
EL1999
• Four priority targets within the ML.
• Focus on resource expansion and extending the mine
life.
• Grow high margin feed stock adjacent to the plant.
1
2.5km
SOZ infill & extension drilling.
2
Parkers Hill – GD140 resource updates.
3
Jacks Hut and EOZ extensions.
4
Bogong target – drilling.
5
EL8334- Webers Gossan and Long Panel – regional
exploration.
3
2
EL1999
1
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EL1999
Mineral Hill: Life of Mine Update | Sep 2024
14
Grow the operating scale with regional exploration
Highly prospective drill targets and geochemical signatures
Shift to creating value with exploration
• Capital spend on mining and
processing now largely complete.
• Cash flow from Mineral Hill and
potential Misima transaction.
Advancing untested targets in EL8334
High priority
targets
• Drilling of under-explored ground –
potential growth catalyst.
• Highly prospective geology and
regional scale structures.
• Extensive lead-in-soil anomalies.
Federation discovered with this tool.
• Coincident geophysical anomalies.
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Add projects within trucking distance to Mineral Hill
Justify expansion of grinding and flotation from 380ktpa to 700ktpa
Mineral Hill Processing Capacity
700 ktpa
380 ktpa
Today
The Future
Float capacity
CIL capacity
Mineral Hill is the only facility in the southern Cobar
Basin with a CIL and multiple concentrate capability
Mineral Hill
Extensions
Regional
Acquisition
Regional
Exploration EL8334
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1. See ASX Announcement dated 2 April 2024 & 27 June 2023, for further detail and key assumptions
Increase
grinding &
flotation
capacity
Mineral Hill: Life of Mine Update | Sep 2024
16
Misima
Gold Project
Mineral Hill: Life of Mine Update | Sep 2024
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Misima – high value growth asset
Large scale, long-life, low-cost open pit gold and silver mine
• Large, low-cost, 20-year gold project averaging
128koz gold per annum.
• NPV of A$956m1 at a gold price US$1,800/oz
Definitive Feasibility Study1
Resource
Resource
• Gold price scenario of $2,000/oz lifts LOM NPV to
$1.3bn.
3.8Moz Gold
22.1Moz Silver
Ore Reserve
Ore Reserve
• Sale / JV process underway to bring about value
realisation.
1.73Moz Gold
4.1Moz Silver
Production
NPV
2.4Moz Gold
$956M pre-tax
AISC
NPV
A$1,217/oz
22%
LOM Revenue
$6.1bn
Extensive
mining history
LOM pre-tax FCF
de-risks development
pathway
SIMBERI
6
PNG Mines and projects
Estimated Gold Endowment AuEq Moz
66
LIHIR
17 FRIEDA RIVER
24
PORGERA
17 OK TEDI
23 PANGUNA
KAINANTU
2
27
WOODLARK
WAFI-GOLPU
HIDDEN VALLEY
4
Papua
New Guinea
TOLUKUMA
2
1.6
2
PORT
MORESBY
7
Misima
GOLD RIDGE
$2.7bn
1. See KSN ASX announcements on 6 June 2022 for further detail
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Mineral Hill: Life of Mine Update | Sep 2024
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Exploration Upside Potential and Site Layout
Excellent infrastructure and proven accessibility
Abundant Exploration Targets
N
• Potential for additional high-grade
inventory by targeting the Umuna
corridor.
• Extension potential at depth and along
strike.
• New discovery potential between
Ewatinona pit and process plant location
(Abi-Kila).
Misima Gold Project Plant Layout
• Simple layout, utilising previous plant
location.
• Leveraging existing land topography and
historical footprint.
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Exploration prospects and targets relative to proposed mining and processing infrastructure locations.
Mineral Hill: Life of Mine Update | Sep 2024
19
Misima Project history
5
High leverage to the gold price
4
Gold Price
3
$2,500.00
2
1
2017 - KSN
commences
Misima earn-in
$2,000.00
2019 – KSN
completes
100%
ownership
2021
Resource
grows to
3.8Moz
KSN initiates
sale/JV
process
2022
Misima
DFS
5
4
3
2
$1,500.00
1
1988
Commencement of
mining, 4.0Moz AuEq
over 15 years
$1,000.00
2004
Misima
decommissioned by
Placer Dome
$500.00
$0.00
1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024
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Summary: Focus on executing our clearly defined strategy
Leveraging the existing gold-copper asset base while advancing future growth opportunities
Experienced Management Team: Focus on maximising
returns from Mineral Hill and Misima
Prime Cobar Location: Mineral Hill in the heart of Cobar
Basin, rich in copper & gold (clean energy transition)
Fast-Track Production Boost: Expanding production from
open pit mining and moving into underground mining
Strategic advantage: Fully approved and operating
processing plant with multiple growth options
Misima Gold Project: Large scale, long-life, low-cost open pit
gold and silver mine
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Mineral Hill: Life of Mine Update | Sep 2024
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Appendix
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Highly experienced and well-regarded Executive Team
Significant experience across the development life cycle through to production
Mick Wilkes
Andrew Corbett
Tony Wehby
Stuart Rechner
Non-Executive Chairman
Managing Director
Non-Executive Director
Non-Executive Director
Mick is a seasoned mining
professional with 35 years’
experience in the industry,
primarily in gold and base
metals. He has specialised in
sustainable project
development, construction, and
operations throughout his
career.
Andrew is a highly experienced
mining engineer with over 25
years in mine management and
financial markets. He has an indepth understanding of mining,
equity markets, business
development and corporate
strategy.
Tony is a highly experienced
board member and chairman,
previously Non-Executive
Chairman of Tellus Resources
Limited and Aurelia Metals
Limited, and a Director of
Ensurance Ltd.
Stuart is an experienced
company director and geologist
with a background in project
generation and acquisition in
Australia and overseas. Mr
Rechner holds degrees in both
geology and law.
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Mineral Hill: Life of Mine Update | Sep 2024
23
Building a safe and
sustainable culture
Investing in our people and
our community
A large employer in
Condobolin
ESG framework: safe,
responsible and sustainable
Investing in our local and
residential workforce
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Mineral Hill: Life of Mine Update | Sep 2024
24
Mineral Hill – Social License
Environmental and Social Licence to operate
Permits in place for mining and processing
Cash backed environmental bonds
Tailings capacity in place and expansion plans
scheduled
Biodiversity offset established
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Competent Person Statement
Competent Person’sStatement - Mineral Resource Reported in Accordance with 2012 JORC Code – Mineral Hill
Competent Person’sStatement - Mineral Resource Reported in Accordance with 2012 JORC Code – Misima
The information in this report that relates to the reporting of the Mineral Hill Mine Mineral Resource Estimate is based on and fairly represents,
information and supporting documentation compiled by Mr. Stuart Hayward (BAppSc (Geology)) MAIG ,who is a Member of the Australian
Institute of Geoscientists. Mr. Stuart Hayward is a full-time employee of Kingston Resources Limited. Mr. Hayward has sufficient 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. Hayward confirms that the information in the market announcement provided is an accurate representation of the available data
and studies for the material mining project and consents to the inclusion in this report of the matters based upon the information in the form and
context in which it appears. The Company confirms that the form and context in which the Competent Person’s findings are presented have not
been materially modified from the original report.
The information in this report that relates to the reporting of the Misima Mineral Resource Estimate is based on and fairly represents, information
and supporting documentation compiled by Mr. Stuart Hayward (BAppSc (Geology)) MAIG ,who is a Member of the Australian Institute of
Geoscientists. Mr. Stuart Hayward is a full-time employee of Kingston Resources Limited. Mr. Hayward has sufficient 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. Hayward
confirms that the information in the market announcement provided is an accurate representation of the available data and studies for the
material mining project and consents to the inclusion in this report of the matters based upon the information in the form and context in which it
appears. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially
modified from the original report.
Competent Person’sStatement - Mineral Resource Reported in Accordance with 2004 JORC Code – Mineral Hill
Competent Person’sStatement – Ore Reserve Reported in Accordance with 2012 JORC Code – Misima
The information in this release that relates to Mineral Resources is based on information reviewed by Mr. Stuart Hayward (BAppSc (Geology))
MAIG, who is a Member of The Australian Institute of Geoscientists and a full-time employee of Kingston Resources Limited. Mr Hayward has
sufficient experience in the style of mineralisation and types of deposit under consideration and to the activity he is undertaking to qualify as a
Competent Person as defined in the 2004 Edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves’. Mr. Hayward confirms that the information in the market announcement provided is an accurate representation of the available data
and studies for the material mining project and consents to the inclusion in the report of the matters based on his information in the form and
context in which it appears. All Mineral Resource estimates were prepared and first disclosed under the JORC Code 2004 and are an accurate
representation of the available data and studies for the Mineral Hill Mine. This information has not been updated since to comply with the JORC
Code 2012 on the basis that the information has not materially changed since it was last reported. Work will commence on close of acquisition by
the Company to bring each of the Mineral Resourcesinto line with the JORC Code 2012.
The Competent Person signing off on the overall Misima Ore Reserves Estimate is Mr John Wyche BE (Min Hon), of Australian Mine Design and
Development Pty Ltd, who is a Fellow of the Australasian Institute of Mining and Metallurgy and who has sufficient relevant experience in
operations and consulting for open pit metalliferous mines. Mr Wyche consents to the inclusion in this report of the matters based upon the
information in the form and context in which it appears.
Competent Person’sStatement – Ore Reserve Reported in Accordance with JORC Code – Mineral Hill
Deposit
JORC
ASX Announcement
Competent Person
Company
The Ore Reserve and Mineral Resources estimates were prepared by a Competent person in accordance with the JORC Code 2012 with
exception of the Parkers Hill Mineral Resource Estimates that have been prepared by a Competent Person in accordance with the JORC Code
2004 and have not been updated to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was
last reported. Pearse, Parkers Hill, Jacks Hut and the Southern Ore Zone Mineral Resource estimates and Ore Reserves have been adjusted by
mining depletion using the production wireframes created by the site survey department at the time of mining. These wireframes represent the
mining activities at these deposits to the best of Kingston’s knowledge although they are not to be viewed as complete or accurate in their
entirety and therefore mining depletion may be revised when Kingston is able to produce revised determinations on more complete data and
verification thereof. Information pertaining to Mineral Resource Estimates (MRE) and Ore Reserves (OR) in this presentation has been previously
released to the public. The tables on this page indicate the authors of the historical Resources/Reserves and the dates they were initially
published. Kingston is not reporting these estimates as its own with exception of the MRE and OR for the TSF which has not been reported
previously by any other company. The other original reports are available through the ASX website.
Misima
2012
KSN 06/06/2022
John Wyche
AMDAD
Pearse North
2012
KSN 30/9/2024
John Wyche
AMDAD
Pearse South
2012
KSN 30/9/2024
John Wyche
AMDAD
SOZ
2012
KSN 30/9/2024
John Wyche
AMDAD
Deposit
JORC
ASX Announcement
Competent Person
Company
Misima
2012
KSN 15/09/2021
Stuart Hayward
KSN
Pearse South
2012
KSN 15/03/2023
Stuart Hayward
KSN
Pearse North
2012
KSN 7/05/2024
Stuart Hayward
KSN
Southern Ore Zone
2012
KSN 30/09/2024
Stuart Hayward
KSN
Jack’s Hut
2012
KSN 21/03/2023
Stuart Hayward
KSN
Parkers Hill
2004
KBL 13/09/2011
Anthony Johnston
KBL
The Competent Person signing off on the the overall Pearse Opencut Ore Reserves Estimate is Mr John Wyche BE (Min Hon) BComm CP, of
Australian Mine Design and Development Pty Ltd, who is a Fellow of the AusIMM and who has sufficient relevant experience in operations and
consulting for open pit metalliferous mines. Mr Wyche consents to the inclusion in this report of the information pertaining Mineral Hill Pearse
open pit Ore Reserves in the form and context in which it appears.
The Competent Person signing off on the overall underground SOZ Ore Reserves Estimate is Mr Steven Weckert BE ME (Min) CP, of Australian
Mine Design and Development Pty Ltd, who is a Member of the AusIMM and who has sufficient relevant experience in operations and
consulting for underground metalliferous mines. Mr Weckert consents to the inclusion in this report of the information pertaining to the Mineral
Hill SOZ Ore Reserve in the form and context in which it appears.
www.kingstonresources.com.au I ASX: KSN
Kingston confirms that it is not aware of any new information or data that materially affects the information included in all ASX announcements
referenced in this release, and that all material assumptions and technical parameters underpinning the estimates in these announcements
continue to apply and have not materially changed.
Ore Reserve
Mineral Resource
Mineral Hill: Life of Mine Update | Sep 2024
26
Mineral Hill – Resources & Reserves
Attractive commodity base with significant growth potential
Total Probable Ore Reserves
Measured Resource Inventory
Kt
Au
(g/t)
Ag
(g/t)
Pearse South
140
4.30
85
19
383
Southern Ore Zone
233
2.01
11
1.2%
0.2%
Pearse North
2
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