Announcement PDF Step change in cash flow with open pit mining Equity Raising Presentation Accelerating exploration to expand Mineral Hill Gold and Copper production Drill to expand the resource base December 2024 Realise value with a Misima transaction 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 Kingston Resources - Equity Raise Presentation - December 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 Kingston Resources - Equity Raise Presentation - December 2024 3 Table of Contents 1 Kingston Resources Overview 2 Equity Raising 3 Mineral Hill – NSW Gold/Copper Production 4 Misima – PNG Value Realisation 5 Appendix 6 Reserves and Resources 7 Key Risks www.kingstonresources.com.au I ASX: KSN Kingston Resources - Equity Raise Presentation - December 2024 4 1. Kingston Resources Overview www.kingstonresources.com.au I ASX: KSN Kingston Resources - Equity Raise Presentation - December 2024 5 Kingston Resources overview Vision To become a mid-tier gold/copper miner with multiple producing assets Cash flow from open pit mining Misima value realisation Mineral Hill Mine (100%) NSW • Operating mine at 350-400ktpa with approvals in place to operate at 700ktpa • Currently producing gold and silver. Copper production in FY26. • Initial six-year LOM plan at ~35kozpa (AuEq). Plant expansion potential Exploration drilling Misima Gold Project (100%) PNG • Strategic process to realise value against backdrop of: • Strength in gold price • Increasing interest in PNG; and • Recent track record of strong outcomes being achieved in transactions involving material gold assets • Entering the resource growth stage with exploration drilling to underpin the doubling of production • Historical production: 3.7Moz Au and 22Moz Ag • 8Mt Resource base with multiple extension opportunities • Mineral Resource 3.8Moz Au, Ore Reserve 1.9Moz Au • Multiple high priority exploration targets • 20-year mine life (DFS1) • Growth options in Cobar Basin - operating polymetallic plant with a CIL • Pre-tax NPV A$956m, IRR 22% (base case gold price of A$2517/oz). Pre-tax NPV of A$2.7bn at spot gold price www.kingstonresources.com.au I ASX: KSN 1. See KSN ASX announcements on 6 June 2022 for further detail Kingston Resources - Equity Raise Presentation - December 2024 6 Corporate snapshot Shares on issue 1-Year Share Price Performance Market Volume('000) RHS 707m Warrants & options2,3 170.4m Share price $0.09 Market cap $64m Cash @ 30 Nov 20241 $5.0m Restricted cash for environmental bond $7.4m Debt4 $15m Close Price (A$) (LHS) 0.12 0.11 0.1 0.09 0.08 0.07 0.06 0.05 0.04 0.03 0.02 0.01 0 9000 8000 7000 6000 5000 4000 3000 2000 1000 0 Shareholder Structure Delphi 15% Quintana 9.4% Winchester 9.1% Farjoy 6.7% Other 59.8% 1. Estimated Cash balance, as at 30 Nov 2024, excludes $7.4m cash backed environmental bond. 2. 38m unlisted options @ $0.14, exp 31 July 25. 3. 25m unlisted warrants @ $0.0846, exp 07 July 2027, 35.7m unlisted warrants @ $0.0846 exp 29 June 2028. 69.7m unlisted warrants @ 0.118 exp 23 Feb 2028. 4. Debt payback - $5m matures 7 July 2026, $5m matures 23 February 2027,$5m matures 29 June 2027 www.kingstonresources.com.au I ASX: KSN Kingston Resources - Equity Raise Presentation - December 2024 7 Highly experienced and well-regarded Executive Team / Board 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. His operational experience has included senior management roles with contractor and ownermining operations. He was also previously Co-Portfolio Manager of the Global Resource Fund at Perpetual Investments. 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. www.kingstonresources.com.au I ASX: KSN Kingston Resources - Equity Raise Presentation - December 2024 8 Key achievements Building the Company’s operating capability to enable scaling of the business • Self managing – in-house planning and execution to meet delivery at all stages of the mining cycle • Self performing – owner-operator focused, with local employment and a problem-solving attitude TSF Mining Complete • Kingston’s first cash producing asset • Reprocessed 1.6 Mt of tailings • Generated $99m in sales and $26m in operating cashflow Plant Refurbishment Complete Open Pit Mining Commenced Underground Mining Preparations • Refurbishment of the Mineral Hill process plant for $13.5m • Recommenced hard rock mining in June 2024 • Underground drilling to commence in Jan 2025 • Mining rate now meeting plant nameplate • High value, polymetallic orebodies • Independently managed and executed • High capital efficiency • Locally employed mining team trained up • The long-term future of Mineral Hill Potential to lift production and underpin a long term precious and base metals business www.kingstonresources.com.au I ASX: KSN Kingston Resources - Equity Raise Presentation - December 2024 9 2. Equity Raising www.kingstonresources.com.au I ASX: KSN Kingston Resources - Equity Raise Presentation - December 2024 10 Equity Raising Summary Equity Raising will fund surface and underground exploration. Cash flow from Mineral Hill open pit mining to be dedicated to expansion projects Offer size and structure • c.A$8.4 million institutional Placement (“Placement”) at A$0.075 per share (“Offer Price”) • The Placement will consist of the issue of a total of c. 85 million shares (“New Shares”) utilising the Company’s existing placement capacity under ASX Listing Rules 7.1 and 7.1A • The Company will also conduct a Share Purchase Plan (“SPP”), raising up to A$2.0 million at the same price as the Offer Price Placement pricing • New Shares will be issued at the Offer Price, which represents a discount of: • 16.7% to the last closing price of A$0.09 per share on 5 December 2024 • 17.1% discount to the 15-day VWAP of A$0.09 as at 5 December 2024 Use of proceeds • Proceeds will be used to fund surface and underground exploration drilling at Mineral Hill with a view to facilitating expansion of Mineral Hill gold/copper production. Ranking • New Shares issued under the Placement will rank equally in all respects with existing ordinary shares Syndicate • Blue Ocean Equities Pty Ltd is acting as Lead Manager and Bookrunner for the Placement www.kingstonresources.com.au I ASX: KSN Kingston Resources - Equity Raise Presentation - December 2024 11 Indicative Equity Raising Timeline Event Date Trading halt - Placement Offer opens 6 December 2024 Record date for the SPP 6 December 2024 Trading Halt lifted, trading resumes 9 December 2024 Settlement of New Shares issued under the Placement 13 December 2024 Allotment of New Shares issued under the Placement 16 December 2024 SPP offer Opening Date 16 December 2024 SPP offer Closing Date 15 January 2025 Allotment of securities issued under SPP 22 January 2025 Allotment of securities issued under SPP 23 January 2025 www.kingstonresources.com.au I ASX: KSN Kingston Resources - Equity Raise Presentation - December 2024 12 Sources and Uses of Funds (excl. Op. Cash Flow from Pearse) Equity Raising to accelerate exploration with a view to leveraging the Mineral Hill plant and targeting a doubling of gold/ copper production Multilple valuation drivers: free cash flow, drilling, Misima process • The Equity Raising will accelerate the exploration strategy at Mineral Hill to grow the resource base and underpin our target to double production. • Along with the Equity Raising proceeds, production from the Pearse open pits is expected to generate material free cash flow in CY2025. • Value realisation from a successful Misima transaction provides the opportunity to further transform the Kingston balance sheet. • The versatile processing plant provides strategic options to expand within the Cobar region (three concentrates and dore). • The Mineral Hill plant is currently operating at 350-400ktpa. Approved to produce at 700ktpa. Sources of Funds (excl. Op. Cash Flow from Pearse) A$m Placement proceeds $6.4 SPP Proceeds $2.0 Cash estimated as at 30 Nov 2024 $5.0 Total Sources of Funds (excl. Op. Cash Flow from Pearse) $13.4 Uses of Funds (excl. Op. Cash Flow from Pearse) A$m Underground resource development drilling $2.0 Underground exploration drilling $2.0 Regional surface drilling $3.0 Working capital Total Uses of Funds $6.4 $13.4 Strategy to transform the Kingston balance sheet and position the company for regional expansion www.kingstonresources.com.au I ASX: KSN Kingston Resources - Equity Raise Presentation - December 2024 13 Pearse North November 2024 3. Mineral Hill Gold and Copper Mine www.kingstonresources.com.au I ASX: KSN Kingston Resources - Equity Raise Presentation - December 2024 14 Kingston extends Mineral Hill Mine life out to 2030 Six-year mine life extension with updated Ore Reserves 1,2 • Extended Mine Life: Life of mine now six years, extended to +2030. • Increased Ore Reserves: Increased open pit Ore Reserves, plus maiden underground Ore Reserves. • Owner Mining: Focused on local employment, with a hands-on training approach to develop our own operators. • Approved and operating mine: Leveraging the fully approved mine, multi commodity plant to grow our production and cashflow. 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 www.kingstonresources.com.au I ASX: KSN Pearse North open pit mining operations Kingston Resources - Equity Raise Presentation - December 2024 15 Open pit mining – Pearse North Pearse North mining commenced in late June 2024 – mining rate now > 3Mtpa 80000 70000 60000 50000 40000 30000 20000 10000 0 3 June 10 June 17 June 24 June 1 July 8 July 15 July 22 July 29 July 5 Aug 12 Aug 19 Aug 26 Aug 2 Sep 9 Sep 16 Sep 23 Sep 30 Sep 7 Oct 14 Oct 21 Oct 28 Oct 4 Nov 11 Nov 18 Nov Tonnes (ore and waste) 60-70k tonnes trucked per week = 3Mtpa of ore and waste Weeks Tonnes Mt Grade Au g/t Grade Ag g/t 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* Metal Au Metal Ag koz koz * Due to rounding to appropriate significant figures, minor discrepancies may occur, tonnages are dry metric tonnes. 1. See ASX Announcement dated 30 September 2024 www.kingstonresources.com.au I ASX: KSN Pearse North and South pit designs Kingston Resources - Equity Raise Presentation - December 2024 16 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 Mt Cu % Pb % Zn % Au g/t Ag g/t Cu kt Pb kt Zn kt Au koz Ag koz Total 3.78 1.0 1.3 1.1 1.83 17 37 51 40 222 2,038 Southern Ore Zone Underground Ore Reserve3 Class Probable 1. 2. 3. Tonnes Mt Cu % Pb % Zn % Au g/t Ag g/t Cu kt Pb kt Zn kt Au koz Ag koz 0.7 0.8 1.9 1.6 1.4 20 5.5 13 11 30 450 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 Kingston Resources - Equity Raise Presentation - December 2024 17 Increase scale at Mineral Hill Strategy on expanding Mineral Resources within the mine GD140 target EOZ high grade Au target Plan: • Underground drilling at SOZ • Update Mineral Resource estimates Red Terror target • Extend the LOM Jacks Hut Infill & Extension SOZ MRE1 update 12.5m @ 3.41% CuEq Underground Mineral Resource Estimates2 Resource Tonnes (Mt) Cu % Pb % Zn % Au g/t Ag g/t Southern Ore Zone 3.78 1.0 1.3 1.1 1.83 17 Jack’s Hut 1.60 0.9 0.8 0.6 1.25 20 Parker’s Hill 1.80 1.3 2.1 0.9 0.19 43 Total Underground 7.3 1.0 1.4 0.9 1.28 24 1. SOZ – Southern Ore Zone, MRE – Mineral Resource Estimate 2. See ASX Announcement dated 21 March 2023 and 30 September 2024 for MRE announcements www.kingstonresources.com.au I ASX: KSN Parkers Hill MRE update and extensions G-H Lode Infill New Lode Extension Kingston Resources - Equity Raise Presentation - December 2024 18 Add projects within trucking distance to Mineral Hill Mineral Hill is the only processing facility in the southern Cobar Basin Grow resources to expand grinding and flotation 700 Approved for 700ktpa 380 Current Expansion Potential Resource growth strategy Mineral Hill Extensions Regional Acquisition Increase grinding & flotation capacity Regional Exploration EL8334 www.kingstonresources.com.au I ASX: KSN 1. See ASX Announcement dated 2 April 2024 & 27 June 2023, for further detail and key assumptions Kingston Resources - Equity Raise Presentation - December 2024 19 on EL8334 4 Adding inventory with near mine exploration 5 EL1999 Near mine advanced targets • Underground drilling to commence in Q1 2025. • Resource growth opportunities within the ML. • Focus on extending the mine life. • Grow high margin feed stock adjacent to the plant. 2.5km 3 1 SOZ infill & extension drilling. 2 Parkers Hill – GD140 resource updates. 3 Jacks Hut and EOZ extensions. 4 Bogong target – drilling. 5 Regional exploration on EL8334- Webers Gossan Long Panel and China Workings. 2 EL1999 www.kingstonresources.com.au I ASX: KSN 1 Kingston Resources - Equity Raise Presentation - December 2024 EL1999 20 Grow the operating scale with regional exploration Highly prospective drill targets and geochemical signatures Shift to creating value with exploration • Extension potential within the ML • Near mine targets within EL1999 (Bogong target) Advancing untested targets in EL8334 • Kingston’s ELs highly prospective • Targeting Mineral Hill repeats and Federation style deposits • Extensive lead-in-soil anomalies • Coincident geophysical anomalies www.kingstonresources.com.au I ASX: KSN Kingston Resources - Equity Raise Presentation - December 2024 21 Exploration potential at depth and regionally Mineral Hill remains open at depth and along the regional trends Extension potential at depth and regionally: • Depth of drilling at Mineral Hill less than 500m depth • Key mineral deposits in Cobar extend to ~1.8km • Numerous regional targets on Kingston’s exploration tenure 13km www.kingstonresources.com.au I ASX: KSN Kingston Resources - Equity Raise Presentation - December 2024 22 Misima Gold Mine – circa 1995 4. Misima Gold Project Kingston Resources - Equity Raise Presentation - December 2024 23 Misima – high value growth asset Large scale, long-life, low-cost open pit gold and silver mine • Forecasting 128koz gold per annum over 20-years Item • Base case NPV of A$956m1 (US$1,800/oz gold price) Unit Base Spot Gold Price USD/oz US$1,800/oz US$2,700/oz • Gold price scenario of $2,700/oz lifts NPV to $2.7bn Exchange Rate AUD:USD US$0.70 US$0.66 • Formal process being managed by Argonaut to bring about value realisation LOM Revenue A$m 6,116 9,730 LOM Free Cash Flow (pre-tax) A$m 2,726 6,367 • Potential transaction to crystallise asset value and allow Kingston build additional value in the Cobar Basin NPV (7% real) pre-tax A$m 956 2,696 NPV (7% real) post-tax A$m 624 1,859 IRR pre-tax % 22% 46% IRR post-tax % 18% 37% 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 DFS Highlights 27 WOODLARK WAFI-GOLPU HIDDEN VALLEY 4 Papua New Guinea TOLUKUMA 2 PORT MORESBY www.kingstonresources.com.au I ASX: KSN 2 1.6 GOLD RIDGE 2.4Moz 7 Misima 1. See KSN ASX announcements on 6 June 2022 for further detail LOM gold production 128koz pa average gold production (yrs 2-18) $2.7bn pre-tax FCF 20-year mine life – production target Kingston Resources - Equity Raise Presentation - December 2024 24 Exploration Upside Potential and Site Layout • Potential for additional high-grade inventory by targeting the Umuna corridor. 485,000 475,000 Abundant Exploration Targets 480,000 Excellent infrastructure and proven accessibility N 8,825,000 • Extension potential at depth and along strike. • New discovery potential between Ewatinona pit and process plant location (Abi-Kila). 8,820,000 Misima Gold Project Plant Layout • Simple layout, utilising previous plant location. • Leveraging existing land topography and historical footprint. Exploration prospects and targets relative to proposed mining and processing infrastructure locations. www.kingstonresources.com.au I ASX: KSN Kingston Resources - Equity Raise Presentation - December 2024 25 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 $1,000.00 2004 Misima decommissioned by Placer Dome Placer Dome Mining Period 4.0Moz AuEq over 15 years $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 www.kingstonresources.com.au I ASX: KSN Kingston Resources - Equity Raise Presentation - December 2024 26 Summary: Focus on executing our clearly defined strategy Leveraging the existing gold-copper asset base while advancing future growth opportunities Experienced Management Team: Focused on multiple value drivers; Mineral Hill cash flow, exploration and Misima value realisation Prime Cobar Basin Location: Accelerating drilling of highly prospective copper & gold targets Free cash flow from Mineral Hill: Expanding cashflow and production from open pit mining and moving into underground mining Strategic Advantage: Fully approved and operating processing plant with multiple drill targets and growth options Misima Gold Project: Formal strategic process provides potential for material transformation of the balance sheet www.kingstonresources.com.au I ASX: KSN Kingston Resources - Equity Raise Presentation - December 2024 27 Appendix www.kingstonresources.com.au I ASX: KSN Kingston Resources - Equity Raise Presentation - December 2024 28 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 www.kingstonresources.com.au I ASX: KSN Kingston Resources - Equity Raise Presentation - December 2024 29 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