Announcement PDF ASX/Media Announcement 14 May 2024 Amended Announcement - Increase in Contained Gold and Silver at Pearse North Kingston Resources Limited (“Kingston” or the “Company”) refers to the announcement titled Increase in Contained Gold and Silver at Pearse North which was lodged with ASX on 7 May 2024. The amended announcement now includes; • Additional information directly addressing Listing Rule 5.8.1, including certain inputs such as the cut-off grade used for mineralisation wireframing and metal pricing; • Inclusion of final assays for five geotechnical holes drilled in 2023, which informed the updated Mineral Resource estimate; and • Inclusion of information under Section 1 of JORC Table 1. ASX: KSN Shares on Issue: 633.7M Market Cap: A$50M Cash: (8 April 2024) A$10.7m 202/201 Miller Street, North Sydney, NSW 2060 +61 2 8021 7492 info@kingstonresources.com.au www.kingstonresources.com.au @KSNResources Increase in Contained Gold and Silver at Pearse North Updated open pit mineral resource estimate at Mineral Hill Highlights • MRE for Pearse North increased for gold and silver by 30% and 67% respectively to 292kt @ 3.2 g/t Au and 34 g/t Ag for 30 koz of gold and 318 koz of silver. • Confirmed high grade structures with peak gold assays of 4.47g/t Au (PNGT01), 5.64g/t Au (PNGT02) and 3.76g/t Au (PNGT04). • Greater confidence in the deposit’s continuity: Review of the orientation of mineralisation shows greater spatial continuity than previously modelled. • Optimising the mine plan for current gold prices: The planned pit design is being re-optimised to take advantage of current gold prices. Kingston Resources Limited (ASX:KSN) (‘Kingston’, or ‘The Company’) is pleased to announce an updated JORC 2012 Mineral Resource Estimate (MRE) for the Pearse North of 292kt @ 3.2 g/t Au and 34 g/t Ag for 30,000 oz of gold and 318,000 oz of silver. This update is supported by additional drilling data and final assays from five geotechnical diamond drill holes that were completed in 2023, and refinement of the geological interpretation. In comparison to the 2022 MRE for Pearse North, contained gold and silver has increased 30% and 67% respectively. This update presents a significant opportunity to take advantage of recent momentum in the gold price. Mining at Pearse North is scheduled to commence in the current quarter. Pearse North will be mined as an open pit with an update of the pit optimisation and mine design with this MRE currently underway. Gold and silver production from the Pearse pits is expected to have a material impact on Kingston’s balance sheet. Further updates will be provided when the updated mining schedule is finalised. The refurbishment of the processing plant is progressing on time and budget in readiness for treatment of the gold ore from the Pearse deposits. Table 1: Pearse North Mineral Resource Estimate at 1.0g/t Au Cut Off. Classification Indicated Inferred Total Tonnes kt 270 22 292 Grade Au g/t 3.2 2.9 3.2 Grade Ag g/t 34.2 29.1 33.9 Metal Au koz 28 2 30 Metal Ag koz 297 21 318 * Due to rounding to appropriate significant figures, minor discrepancies may occur, tonnages are dry metric tonnes. Kingston Resources Managing Director, Andrew Corbett, comments: “We are excited about the transition from tailings mining to open pit mining at our Pearse North Project. This shift will allow us to significantly expand our gold production over the coming year, while also increasing operating cash flow. The high-grade nature of the pits and the momentum in the gold price provide a strong backdrop for maximising margins from this highly lucrative resource. The entire technical team has done a fantastic job ensuring the Project has access to high-quality Mineral Resources and Ore Reserves necessary to support a successful Mine Plan.” 2 www.kingstonresources.com.au Pearse Overview Pearse North is one of two shear hosted gold-silver deposits that are located ~1.6 km WNW of the Mineral Hill processing plant. Pearse South, located 350m to the SE, was historically mined as an open pit with the existing open pit void, haul roads and waste dump areas remaining intact and accessible. The list of work completed by Kingston on the Pearse open pits since acquiring Mineral Hill in 2022 includes: • • • • Resource definition drilling at Pearse North, with results reported in the ASX announcement 28 July 2022). Reporting of an updated Mineral Resource and Ore Reserve for both Pearse North and Pearse South (see ASX announcement dated 15 March 2023). The completion of four geotechnical diamond drill holes at Pearse North and reporting of preliminary assay results (see ASX announcement on 5 September 2024). Reporting of an updated Mineral Resource Estimate for Pearse North using the final assays from the four geotechnical holes (the subject of this announcement). Both Pearse North and Pearse South are scheduled to be mined as open pits with Pearse South being a cut back of the existing pit and Pearse North to be a new pit. The mining, metallurgical and other modifying factors considered to date have been informed by the historical production and processing performance, additional metallurgical test work, and revision of mining, operating and processing costs based on the current mining and processing operations at Mineral Hill. Additional information directly addressing Listing Rule 5.8.1 is shown in the attached Mineral Resource Report below. Final Assays from Geotechnical Drill Holes Table 5 shows the final assays received for the five geotechnical drill holes completed at Pearse North. Preliminary assays were previously reported in the ASX Announcement released to the market on 5 September 2023 and are updated in this release as final assays. The significant intercepts listed in Table 4 support the previous geological interpretation and have served as a basis for updating the geology, mineralised lode interpretation and Mineral Resource Estimate. Key highlights from the five holes include: • PNGT01 – 7.4m @ 2.91g/t Au and 27g/t Ag from 0.6m (1.0g/t Au cut off). o • PNGT02 - 3.6m @ 4.90g/t Au and 70g/t Ag from 42.4m (1.0g/t Au cut off). o • Including 1.5m @ 3.46g/t Au and 30g/t Ag from 52.0m (2.5g/t Au cut off). PNGT04 – 4.0m @ 3.35g/t Au and 90g/t Ag from 22.0m (1.0g/t Au cut off). o • Including 3m @ 5.64g/t Au and 81g/t Ag from 43m (2.5g/t Au cut off). PNGT03 - 3.0m @ 2.12g/t and 20g/t Ag from 52.0m (1.0g/t Au cut off). o • Including 3.4m @ 4.17g/t Au and 50g/t Ag from 0.6m (2.5g/t Au cut off). Including 3.0m @ .3.76g/t Au and 27g/t Ag from 23m (2.5g/t Au cut off). PNGT04 – 9.82m @ 2.46g/t Au and 19g/t Ag from 28.2m (1.0g/t Au cut off). o Including 4.3m @ 3.76g/t Au and 19g/t Ag from 31.7m (2.5g/t Au cut off). www.kingstonresources.com.au 3 Figure 1: Cross section looking northwest (+-10m section window, line PN10,000). Updated mineralisation wireframes (green) versus the previous wireframes (hatched red). Figure 2: Pearse North plan view at 290mRL (+-10m section window). www.kingstonresources.com.au 4 Mineral Resource Estimate The Pearse North deposit at Mineral Hill is interpreted to be a stacked set of shear-hosted gold-silver (AuAg) lodes (Figure 3) within the Late Silurian to Early Devonian Mineral Hill Volcanics. The sulphide mineralisation, comprising predominantly pyrite, arsenopyrite and stibnite, is typically disseminated within quartz-mica (sericite) schist. Style of mineralisation is consistent between the two deposits. Geological modelling of the mineralisation at Pearse North has been revised, using the significant intercepts from the 2023 geotechnical drill holes (see Table 4). The results showed that the lodes have a steeper dip and greater continuity along strike than previously interpreted (see Figure 3). Figure 3: Plan view of the Pearse North mineralisation wireframes. Drilling methods in the dataset comprise reverse circulation (RC) and diamond core (DDH). Reverse circulation drilling samples were collected at 1m intervals directly from the rig cyclone (with a cone splitter attached). The diamond core was cut and sampled, with half core sample lengths ranging from 0.3m to 1.0m. Samples were analysed at SGS laboratory using Multi element 4-acid digest and gold by Fire Assay technique with an Atomic Absorption Spectrometry (AAS) instrument finish. KSN utilised QAQC in the form of standards, blanks and duplicates to ensure all data was of suitable quality for inclusion in the estimate. No specific metallurgical assumptions were made in the preparation of this MRE. www.kingstonresources.com.au 5 Revised geometry of mineralised structures was interpreted by creating 3D wireframe models using a 0.5g/t Au lower cutoff (previously 2g/t) that is correlated with geological features that define a mineralised lode at Pearse North, this has led to a better-defined lode model. Grade estimation was undertaken using ordinary kriging estimate methodology into a 3D block model. Classification of the MRE into confidence categories has been completed based on distance to samples and the average slope of regression. Indicated portions have a distance to the nearest sample of <25m and a slope of regression > 0.7, while Inferred portions have an average distance to samples > 30m and slope of regression < 0.6. Reporting Mineral Resources To remain consistent with historical resource reporting at Pearse North (See ASX Announcement 18 March 2023, Pearse Ore Reserve Update), Mineral Resources are reported at a 1.0g/t Au cut off within a Whittle optimisation shell using metal pricing of AUD$3200/oz for gold, AUD$37/oz for silver, and cost and recovery data sourced from the operation at Mineral Hill. The 2024 Pearse North Mineral Resource is estimated as 292kt @ 3.2 g/t Au and 34 g/t Ag for 30,000 oz of gold and 318,000 oz of silver. Table 2 Pearse North Mineral Resource Estimate at 1.0g/t Au Cut Off. Classification Indicated Inferred Total Tonnes kt 270 22 292 Grade Au g/t 3.2 2.9 3.2 Grade Ag g/t 34.2 29.1 33.9 Metal Au koz 28 2 30 Metal Ag koz 297 21 318 * Due to rounding to appropriate significant figures, minor discrepancies may occur, tonnages are dry metric tonnes. Key contributing factors to the increase in the Pearse North Mineral Resource include: • • • • • Five additional diamond drill holes with anomalous gold-silver mineralisation and orientation data (Table 3, Table 4). Updated pit slope design parameters. Improved confidence in the continuity of mineralised structure interpretations leading to increased volumes of material. Increased confidence associated with mining, processing, and operating cost estimates. Increase in gold and silver commodity prices to reflect the near term commencement and relatively short duration of open pit mining operations. Mineral Resource Models are assessed as meeting reasonable prospects for eventual economic extraction (RPEEE) criteria and are fit for purpose as input into Mining and Feasibility Studies. All the information required under Listing Rule 5.8.1 is provided within the Mineral Hill Mine Pearse North Mineral Resource Estimate Report April 2024 which is included as Appendix. Further details are provided in JORC Table 1, which is included as Appendix A. www.kingstonresources.com.au 6 Table 3: Pearse North geotechnical drill hole collars (datum: MGA94 Zone 55). Hole ID Hole Type Dip Total Depth GDA Azimuth MHG Azimuth GDA mE GDA mN AHD MHG mE MHG mN MHG mRL PNGT01 DDH -59.8 68 229.9 274.9 497064.8 6395749 331.36 54.1 2201.5 1331.4 PNGT02 DDH -59.4 66.2 60 105 497088.2 6395763 331.75 80.52 2194.76 1331.8 PNGT03 DDH -61.8 60.2 57.7 102.7 497082.7 6395804 334.29 106.2 2228.2 1334.4 PNGT04 DDH -60.2 60.2 237.1 282.1 497108.4 6395752 330.84 87.1 2172.9 1330.9 PNGT05 DDH -59.9 75.2 310.5 355.5 497061 6395804 334.98 90.8 2243.5 1335 Total 329.8 * See KSN ASX Announcement dated 5 September 2023. www.kingstonresources.com.au 7 Table 4: Pearse North geotechnical drillhole significant intercepts. Hole ID From To Interval (m) Au (g/t) Ag (g/t) As (ppm) Sb (ppm) Au g/t COG PNGT01 0.6 20 19.4 1.6 22 1323 331 0.1 PNGT01 0.6 19 including 18.4 1.68 23 1377 346 0.5 PNGT01 0.6 8 including 7.4 2.91 27 2525 602 1 PNGT01 0.6 4 including 3.4 4.17 50 3516 821 2.5 PNGT01 7 8 and including 1 2.77 5 2275 502 2.5 PNGT01 11 16 and including 5 1.34 25 165 192 1 PNGT01 12 13 including 1 3.48 4 42 32 2.5 PNGT01 30.64 51 20.36 0.91 46 849 704 0.1 PNGT01 33 39.4 including 6.4 1.68 38 1151 1112 1 PNGT01 38.7 39.4 including 0.7 4.47 32 1315 848 2.5 PNGT01 43 47 and including 4 1.2 48 188 325 1 PNGT01 56.5 62.86 6.36 0.55 6 3954 362 0.1 PNGT01 57 58 1 1.94 1 7818 517 1 PNGT02 34 46 12 1.66 26 986 1385 0.1 PNGT02 42.39 46 including 3.61 4.9 70 1944 4179 1 PNGT02 43 46 including 3 5.64 81 2318 4876 2.5 PNGT03 18 44 26 0.42 0 542 358 0.1 PNGT03 27 31.2 including 4.2 0.8 0 247 145 0.5 PNGT03 27 30.5 including 3.5 0.82 0 244 122 1 PNGT03 37 44 and including 7 0.75 1 1474 1099 0.5 PNGT03 37 38 including 1 1.15 3 1412 290 1 PNGT03 42 43 and including PNGT03 50.8 59 PNGT03 51.5 58 PNGT03 52 PNGT03 including 1 1.41 1 2427 426 1 8.2 1.12 13 1134 1364 0.1 including 6.5 1.38 16 1285 1486 0.5 55 including 3 2.12 20 2059 2062 1 52 53.5 including 1.5 3.46 30 3634 3454 2.5 PNGT04 22 38 16 2.38 18 2480 822 0.1 PNGT04 22 26 including 4 3.35 23 3876 2125 1 PNGT04 23 26 including PNGT04 28.18 38 PNGT04 31.69 36 PNGT05 52 59 PNGT05 53 55 including PNGT05 53 54 including PNGT05 68 74.5 including 3 3.76 27 3844 2655 2.5 9.82 2.46 19 2224 421 1 4.31 3.76 19 3140 353 2.5 7 0.4 1 529 95 0.1 2 1.1 3 834 142 0.5 1 1.46 4 413 169 1 6.5 0.8 11 1469 578 0.1 ** Mineralised intercepts include continuous zone of mineralisation with a maximum 2.0m internal waste, and 0.3m minimum sample length are calculated at 0.1, 0.5 and 1.0g/t Au cut off grades. ***Geotechnical samples with no assays are included within these intercepts as returning zero grade. **** See KSN ASX Announcement dated 5 September 2023 www.kingstonresources.com.au 8 Figure 4: Cross section looking northwest (+-10m section window, section line PN9,980). Updated mineralisation wireframes (green) versus the previous wireframes (hatched red). Figure 5: Cross section looking northwest (+-10m section window, section line PN10,030). Updated mineralisation wireframes (green) versus the previous wireframes (hatched red). www.kingstonresources.com.au 9 Figure 6: Long section looking towards 228° (+-10m section window). Updated mineralisation wireframes (green) versus the previous wireframes (hatched red). Table 5: Pearse North detailed geochemical analysis of anomalous intervals from geotechnical drill holes. Hole ID From To Length Au (g/t) PNGT01 0.35 0.45 0.1 0.07 1.4 552 35 PNGT01 0.6 1 0.4 7.39 10.6 2572 502 1600 PNGT01 1 2 1 3.2 17.8 4700 999 3100 PNGT01 2 3 1 5.32 92.1 4263 744 2700 PNGT01 3 4 1 2.69 54.8 1962 849 1600 PNGT01 4 5 1 1.1 18.6 1009 303 2000 PNGT01 5 6 1 2.44 5 1024 519 1800 PNGT01 6 7 1 1.05 2.8 2422 339 3200 PNGT01 7 8 1 2.77 5.4 2275 502 1900 PNGT01 8 9 1 0.5 4.7 1594 272 1600 PNGT01 9 10 1 0.54 6.1 2727 244 1300 PNGT01 10 11 1 0.42 3.3 1270 156 PNGT01 11 12 1 1.29 14 497 319 3400 PNGT01 12 13 1 3.48 20.9 212 162 3000 PNGT01 13 14 1 0.58 41.1 47 173 4100 PNGT01 14 15 1 0.1 19.9 33 133 PNGT01 15 16 1 1.26 31.3 36 171 5300 PNGT01 16 17 1 0.66 42.8 45 142 3900 PNGT01 17 18 1 0.14 19.5 25 74 PNGT01 18 18.8 0.8 0.05 8.1 28 34 PNGT01 18.8 19 0.2 1.56 17.5 701 183 PNGT01 19 20 1 0.28 2.9 337 58 PNGT01 20 21 1 -0.01 -0.5 267 33 www.kingstonresources.com.au Ag (g/t) As (ppm) Sb (ppm) F (ppm) 4200 10 Hole ID From To Length Au (g/t) Ag (g/t) As (ppm) Sb (ppm) PNGT01 21 22 1 0.01 -0.5 824 16 PNGT01 22 23 1 -0.01 -0.5 344 13 PNGT01 23 24 1 0.01 -0.5 704 21 PNGT01 24 25 1 -0.01 -0.5 427 14 PNGT01 25 26 1 0.02 -0.5 165 24 PNGT01 26 26.21 0.21 -0.01 -0.5 281 31 PNGT01 26.21 27 0.79 -0.01 -0.5 1185 44 PNGT01 27 28 1 0.02 -0.5 2630 154 PNGT01 28 28.5 0.5 0.03 -0.5 4390 145 PNGT01 28.5 29.24 0.74 -0.01 -0.5 4190 148 PNGT01 29.24 29.46 0.22 0.01 -0.5 4142 310 PNGT01 29.46 30.35 0.89 0.01 -0.5 2823 380 PNGT01 30.35 30.64 0.29 0.03 -0.5 2260 267 PNGT01 30.64 31.5 0.86 0.1 -0.5 1893 232 PNGT01 31.5 32 0.5 0.18 -0.5 2914 295 PNGT01 32 33 1 0.01 -0.5 2184 207 PNGT01 33 34 1 1 -0.5 4483 798 2000 PNGT01 34 35 1 1.53 1.1 343 922 5200 PNGT01 35 36 1 1.84 47.5 844 1082 4600 PNGT01 36 37 1 0.87 83.2 189 1007 3000 PNGT01 37 38 1 1.4 55.8 323 1967 4900 PNGT01 38 38.7 0.7 1.37 51.3 378 1069 6200 PNGT01 38.7 39.4 0.7 4.47 32.4 1315 848 4900 PNGT01 39.4 39.9 0.5 0.12 12.1 701 216 PNGT01 39.9 40.13 0.23 0.16 5.7 873 769 PNGT01 40.13 41 0.87 0.38 17.4 1342 628 PNGT01 41 41.5 0.5 0.3 21.8 1209 537 PNGT01 41.5 42.2 0.7 0.15 10.2 313 2399 PNGT01 42.2 43 0.8 0.45 6.1 393 1051 PNGT01 43 44 1 1.39 75.6 145 477 3900 PNGT01 44 45 1 1.14 23.8 76 235 2300 PNGT01 45 46 1 1.25 11.1 188 217 1900 PNGT01 46 47 1 1 80.7 344 370 3400 PNGT01 47 48 1 0.16 347 201 481 PNGT01 48 49 1 0.22 24.6 103 300 PNGT01 49 50 1 0.71 45.2 319 315 6500 PNGT01 50 51 1 0.61 30 421 655 6900 PNGT01 51 52 1 0.03 1.7 82 135 PNGT01 52 53 1 0.02 1.9 27 237 PNGT01 53 54 1 0.02 1.6 24 280 PNGT01 54 54.5 0.5 -0.01 1.7 27 140 PNGT01 54.5 55.33 0.83 -0.01 1.1 6 147 PNGT01 55.33 55.52 0.19 PNGT01 55.52 56.5 0.98 0.05 64.9 38 598 PNGT01 56.5 57 0.5 0.42 46.8 5186 778 www.kingstonresources.com.au F (ppm) 11 Hole ID From To Length Au (g/t) Ag (g/t) As (ppm) Sb (ppm) F (ppm) PNGT01 57 58 1 1.94 1.2 7818 517 1500 PNGT01 58 58.5 0.5 0.47 2.2 3459 363 PNGT01 58.5 59.16 0.66 0.17 1.8 3933 343 PNGT01 59.16 59.37 0.21 0.1 1.6 6118 483 PNGT01 59.37 60 0.63 0.08 4.5 9448 464 PNGT01 60 61 1 0.56 7.5 2414 436 PNGT01 61 61.5 0.5 0.15 1.2 672 117 PNGT01 61.5 62 0.5 0.46 2.3 558 76 PNGT01 62 62.86 0.86 0.1 0.8 172 73 PNGT01 62.86 63.15 0.29 -0.01 -0.5 51 60 PNGT02 33 34 1 0.02 -0.5 75 60 PNGT02 34 35 1 0.25 2.2 365 187 PNGT02 35 36 1 0.27 1 66 69 PNGT02 36 37 1 0.43 0.9 40 136 PNGT02 37 38 1 0.21 -0.5 40 89 PNGT02 38 39 1 0.13 -0.5 32 83 PNGT02 39 40 1 0.01 0.9 -3 76 PNGT02 40 41 1 0.37 45 85 237 PNGT02 41 41.5 0.5 0.31 6.9 69 138 PNGT02 41.5 42.2 0.7 0.16 -0.5 48 137 PNGT02 42.2 42.39 0.19 PNGT02 42.39 43 0.61 1.27 13.2 103 747 1700 PNGT02 43 44 1 6.38 33.9 678 1526 4200 PNGT02 44 45 1 6.39 39.1 2322 1838 2100 PNGT02 45 46 1 4.14 171 3954 11265 3500 PNGT02 46 47 1 0.24 7 4122 490 PNGT02 47 48 1 0.05 -0.5 1648 169 PNGT02 48 49 1 0.04 -0.5 876 69 PNGT03 16.07 16.26 0.19 0.03 -0.5 46 13 PNGT03 16.26 17 0.74 0.04 -0.5 38 25 PNGT03 17 18 1 0.06 -0.5 42 24 PNGT03 18 18.5 0.5 0.11 -0.5 704 34 PNGT03 18.5 19.32 0.82 0.21 -0.5 232 25 PNGT03 19.32 19.68 0.36 0.27 -0.5 119 17 PNGT03 19.68 20.5 0.82 0.06 -0.5 50 21 PNGT03 20.5 21 0.5 0.07 -0.5 25 25 PNGT03 21 22 1 0.11 -0.5 26 47 PNGT03 22 23 1 0.16 -0.5 38 31 PNGT03 23 23.5 0.5 0.02 -0.5 37 29 PNGT03 23.5 24.46 0.96 0.02 -0.5 107 37 PNGT03 24.46 24.68 0.22 0.15 2.8 38 92 PNGT03 24.68 25.5 0.82 0.15 -0.5 182 40 PNGT03 25.5 26 0.5 0.26 -0.5 240 49 PNGT03 26 27 1 0.2 -0.5 563 68 www.kingstonresources.com.au 1900 12 Hole ID From To Length Au (g/t) Ag (g/t) As (ppm) Sb (ppm) F (ppm) PNGT03 27 28 1 1.15 -0.5 488 131 1000 PNGT03 28 29 1 1.07 -0.5 248 109 1300 PNGT03 29 30 1 0.09 -0.5 72 110 PNGT03 30 30.5 0.5 1.09 0.6 89 154 1900 PNGT03 30.5 31.2 0.7 0.73 -0.5 263 261 1400 PNGT03 31.2 31.35 0.15 0.02 -0.5 117 177 PNGT03 31.35 32 0.65 0.34 -0.5 109 193 PNGT03 32 33 1 0.33 -0.5 125 131 PNGT03 33 34 1 0.38 0.6 133 177 PNGT03 34 35 1 0.21 0.6 564 65 PNGT03 35 36 1 0.02 -0.5 104 74 PNGT03 36 37 1 0.02 -0.5 49 54 PNGT03 37 38 1 1.15 2.5 1412 290 2300 PNGT03 38 39 1 0.97 1.5 1840 1737 2700 PNGT03 39 40 1 0.3 1.2 475 1810 PNGT03 40 41 1 0.72 3.6 1961 2778 PNGT03 41 42 1 0.16 -0.5 1154 419 PNGT03 42 43 1 1.41 -0.5 2427 426 2200 PNGT03 43 44 1 0.55 -0.5 1047 235 1800 PNGT03 44 44.54 0.54 0.05 -0.5 336 129 PNGT03 44.77 45.5 0.73 0.03 -0.5 96 166 PNGT03 45.5 46.5 1 0.03 -0.5 118 112 PNGT03 46.5 47 0.5 0.04 -0.5 238 90 PNGT03 47 48 1 0.06 -0.5 246 72 PNGT03 48 49 1 0.07 -0.5 249 151 PNGT03 49 50 1 0.04 -0.5 506 386 PNGT03 50 50.8 0.8 0.07 -0.5 351 3124 PNGT03 50.8 50.98 0.18 0.18 0.7 475 167 PNGT03 50.98 51.5 0.52 0.08 0.8 541 630 PNGT03 51.5 52 0.5 0.76 1.4 1204 1466 3800 PNGT03 52 52.7 0.7 2.69 32.5 5394 2054 3300 PNGT03 52.7 52.92 0.22 1.53 22.6 3439 4839 PNGT03 52.92 53.5 0.58 5.11 29.3 1584 4619 PNGT03 53.5 54 0.5 0.17 2.5 713 205 PNGT03 54 55 1 1.1 13.3 369 903 PNGT03 55 56 1 0.35 9.6 721 357 PNGT03 56 57 1 0.88 11.6 190 1839 3200 PNGT03 57 58 1 0.97 23 665 546 3700 PNGT03 58 59 1 0.2 2.8 576 1169 PNGT03 59 59.5 0.5 0.08 -0.5 158 129 PNGT03 59.5 60.2 0.7 0.05 -0.5 135 156 PNGT04 20.75 21.5 0.75 0.04 4.3 2678 82 PNGT04 21.5 22 0.5 0.07 7.9 2327 44 PNGT04 22 23 1 2.11 11.8 3972 536 www.kingstonresources.com.au 3400 3400 3400 2100 13 Hole ID From To Length Au (g/t) Ag (g/t) As (ppm) Sb (ppm) F (ppm) PNGT04 23 24 1 4.71 31.8 3898 2606 3400 PNGT04 24 25 1 0.26 13.6 2486 377 PNGT04 25 26 1 6.32 36.2 5147 4982 PNGT04 26 26.5 0.5 0.22 17.7 2083 500 PNGT04 26.5 27.09 0.59 0.05 2.8 1065 138 PNGT04 27.09 28 0.91 0.3 4.7 730 199 28 28.18 0.18 PNGT04 28.18 29 0.82 1.38 13.7 880 637 5300 PNGT04 29 30 1 1.19 19.3 668 114 2200 PNGT04 30 31 1 2.24 36.3 1063 311 1600 PNGT04 31 31.5 0.5 2.32 23.3 4951 2430 2100 PNGT04 31.5 31.69 0.19 0.38 3.4 1290 286 PNGT04 31.69 32.5 0.81 2.79 38.9 4024 550 1600 PNGT04 32.5 33 0.5 3.62 13.1 4233 395 2200 PNGT04 33 34 1 2.91 8.2 1079 208 2100 PNGT04 34 35 1 3.01 9.8 1607 358 3400 PNGT04 35 36 1 6.23 26.3 5471 312 3000 PNGT04 36 37 1 0.78 17.4 782 192 5700 PNGT04 37 38 1 1.4 5.4 2350 203 2500 38 38.18 0.18 PNGT04 38.18 39 0.82 0.01 -0.5 658 89 PNGT05 50 51 1 -0.01 -0.5 671 63 PNGT05 51 52 1 0.01 -0.5 467 81 PNGT05 52 53 1 0.18 0.9 139 79 PNGT05 53 54 1 1.46 4.1 413 169 2100 PNGT05 54 55 1 0.73 2.2 1254 115 1700 PNGT05 55 56 1 0.1 -0.5 1140 76 PNGT05 56 57 1 0.06 -0.5 384 74 PNGT05 57 58 1 0.15 -0.5 222 69 PNGT05 58 59 1 0.13 -0.5 149 82 PNGT05 59 60 1 0.09 -0.5 521 79 PNGT05 60 61 1 0.04 -0.5 196 81 PNGT05 61 62 1 0.03 -0.5 377 83 PNGT05 62 63 1 0.05 -0.5 230 58 PNGT05 63 63.5 0.5 0.02 -0.5 89 57 PNGT05 63.5 64.02 0.52 0.01 -0.5 60 39 PNGT05 64.02 64.29 0.27 0.03 -0.5 51 56 PNGT05 64.29 65 0.71 0.03 -0.5 132 41 PNGT05 65 66 1 0.03 -0.5 108 43 PNGT05 66 67 1 0.05 0.6 78 73 PNGT05 67 68 1 0.08 1.1 116 84 PNGT05 68 69 1 0.12 -0.5 167 48 PNGT05 69 70 1 0.16 1.1 469 54 PNGT05 70 71 1 0.2 1.6 245 58 www.kingstonresources.com.au 3900 14 Hole ID From To Length Au (g/t) Ag (g/t) As (ppm) Sb (ppm) PNGT05 71 71.5 0.5 0.04 1.1 134 38 PNGT05 71.5 72.35 0.85 0.04 0.6 110 34 PNGT05 72.35 72.58 0.23 0.06 -0.5 77 26 PNGT05 72.58 73.5 0.92 0.11 5.8 248 274 PNGT05 73.5 74 0.5 0.14 3.4 180 154 PNGT05 74 74.5 0.5 0.16 1.6 183 71 PNGT05 74.5 75.2 0.7 0.07 -0.5 141 24 www.kingstonresources.com.au F (ppm) 15 ABOUT KINGSTON RESOURCES Kingston Resources is currently producing gold from its Mineral Hill gold and copper mine in NSW and is developing the 3.8Moz Misima Gold Project in PNG. The Company’s objective is to establish itself as a midtier gold and base metals company with multiple producing assets. Mineral Hill Mine, NSW (100%) • • • • • Mine plan out to the end of 2027: Open pit and underground mining. Significant upside: Current life of mine only utilises 22% of the current 8.9Mt of Mineral Resources. Infrastructure excellence: Extensive existing infrastructure with all permits and approvals in place. Exploration potential: Exceptional upside within current Mining Leases (ML) and Exploration Licenses (EL). Current Focus: Completion of the Tailings Project gold production, transitioning to open pit mining at Pearse and production of concentrate for sale. Misima Gold Project, PNG (100%) • • • • • DFS Validation: potential for a robust, scalable, and low-cost open pit operation. Production Potential: Anticipated gold production of ~2.4Moz over a 20-Year Mine Life (Avg. 128kozpa). Strong Financial Viability: Pre-Tax Net Present Value (NPV) of A$956 Million (based on a US$1,800/oz Gold Price). Gold Price Upside: Highly leveraged to the upside of the gold price, amplifying potential returns. Current Focus: Prioritising ESIA reports, strategic funding & development strategies. Mineral Hill is a gold and copper mine located in the Cobar Basin of NSW. In June 2023, the company updated its life of mine plan, including both open pit and underground mining until 2027. The processing plant currently operates a CIL, and work is well advanced to recommission the existing crushing, grinding and flotation circuits for copper, lead and zinc concentrate production. In addition to current production, the company is focused on meeting near mine production targets located on the existing MLs. The aim is to extend the mine’s life through organic growth and consider regional deposits that could be processed at Mineral Hill’s processing plant. Misima hosts a JORC Resource of 3.8Moz Au and an Ore Reserve of 1.73Moz. Placer Pacific operated Misima as a profitable open pit mine between 1989 and 2001, producing over 3.7Moz before it was closed when the gold price was below US$300/oz. The Misima Project also offers great potential for additional resource growth through exploration success targeting extensions and additions to the current Resource base. For further information regarding the Misima Mineral Resource and Ore Reserve estimate, see ASX announcements on 24 November 2020 and 15 September 2021 and 6 June 2022. Further information is included within the original announcements. The Mineral Hill Mineral Resource estimate outlined below was released in ASX announcements on 18 November 2021 (TSF), 15 March 2023 (Pearse South and Pearse North), 24 November 2022 (Southern Ore Zone), 21 March 2023 (Jack’s Hut) and 13 September 2011(Parkers Hill by KBL). The Ore Reserve estimate outlined below was released in ASX announcements on 18 November 2021 (TSF), 15 March 2023 (Pearse South and Pearse North). Further information is included within the original announcements. Kingston is not aware of any new information or data that materially affects the information included in this announcement. All material assumptions and technical parameters underpinning the Mineral Resources and Ore Reserve estimates continue to apply and have not materially changed. www.kingstonresources.com.au 16 This release has been authorised by the Kingston Resources Limited Board. For all enquiries, please contact Managing Director, Andrew Corbett, on +61 2 8021 7492. MINERAL RESOURCES AND ORE RESERVES Misima JORC 2012 Mineral Resource & Ore Reserve summary table Resource Category Cut-off (g/t Au) Tonnes (Mt) Gold Grade (g/t Au) Silver Grade (g/t Ag) Au (Moz) Ag (Moz) Indicated 0.3 97.7 0.79 4.3 2.5 13.4 Inferred 0.3 71.3 0.59 3.8 1.4 8.7 Total 0.3 169 0.71 4.1 3.8 22.1 Reserve Cut-off (g/t Au) Tonnes (Mt) Gold Grade (g/t Au) Silver Grade (g/t Ag) Au (Moz) Ag (Moz) Probable 0.3 75.6 0.79 4.2 1.73 4.1 Mineral Hill JORC 2012 & JORC 2004 Mineral Resource & Ore Reserve summary table Resource Category Measured Tonnes (kt) 228 Gold Grade (g/t) 2.11 Silver Grade (g/t) 11 Cu % 1.3% Pb % 0.5% Zn % 0.3% Au (koz) 15 Ag (koz) 80 Cu (kt) 3 Pb (kt) 1.2 Zn (kt) 0.7 Indicated 4,893 1.08 28 1.2% 1.7% 1.1% 169 4,361 47 70 42 Inferred 3,098 1.17 23 0.7% 1.4% 1.2% 117 2,253 22 42 38 Total 8,220 1.14 27 1.0% 1.6% 1.1% 302 6,693 72 113 81 Reserve Category Proved Tonnes (kt) - Gold Grade (g/t) 0.00 Silver Grade (g/t) 0 Cu % Pb % Zn % Au (koz) - Ag (koz) 0 Cu (kt) Pb (kt) Zn (kt) Probable 697 1.95 57 44 470 Total 697 1.95 57 44 470 1. 2. 3. 4. 5. Due to rounding to appropriate significant figures, minor discrepancies may occur, tonnages are dry metric tonnes. Probable Ore Reserves are derived from Indica