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Kin Mining NL : Notification to Ineligible Shareholders

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10/12/2018 | 03:48am CEST

12 October 2018

Dear Shareholder,

RIGHTS ISSUE - NOTIFICATION TO INELIGIBLE SHAREHOLDERS

We are writing to you as a registered holder of shares in Kin Mining NL (Company).

As announced to ASX on 9 October 2018, the Company is undertaking a pro rata non- renounceable offer of ordinary fully paid shares to eligible shareholders. The offer is on the basis of two (2) new shares (New Share) for every five (5) shares held by eligible shareholders of the Company as at 5.00pm WST on Wednesday, 17th October 2018 (Record Date) at an issue price of $0.08 per Share, to raise approximately A$10.4 million (Offer).

The Company is making the Offer available to eligible shareholders, being persons who are registered as shareholders of the Company on the Record Date and have a registered address in Australia, Hong Kong, New Zealand, Germany and Singapore. In calculating entitlements under the Offer, fractions will be rounded up to the nearest whole number. Shareholders who, at the Record Date, do not have an address registered in either Australia, Hong Kong, New Zealand, Germany or Singapore will not be eligible to participate in the Offer.

New Shares issued pursuant to the Offer will rank equally to existing ordinary shares currently on issue. The Company has applied for official quotation of the New Shares.

An Offer Document in relation to the Offer has been lodged with ASX setting out the timetable for the Offer. A copy of the Offer Document is available on the ASX website at www.asx.com.au (ASX code: KIN) and on the Company's website at www.kinmining.com.au.

Ineligible shareholders

A Shareholder who has a registered address outside Australia, Hong Kong, New Zealand, Germany and Singapore (Ineligible Shareholder) will not be eligible to participate in the Offer. You are not eligible to participate in the Offer and you will not be sent a copy of the Offer Document. This decision has been made pursuant to Listing Rule 7.7.1(a) of the ASX Listing Rules after taking into consideration the costs of complying with legal and regulatory requirements in jurisdictions outside of Australia, Hong Kong, New Zealand, Germany and Singapore compared with the small number of Ineligible Shareholders and the number and value of Shares to which they would otherwise be entitled.

Use of Proceeds

Proceeds from the Offer will be applied to the development of the Leonora Gold Project, to exploration programs and to repay and retire the outstanding current Sprott facility as well as provide for the expenses of the offer and working capital.

Capital Structure

The capital structure of the Company following completion of the Offer is summarised below:

Shares

Numbers

Shares on Issue at date of the Offer1

324,730,577

New Shares offered under the Offer2

129,892,231

Total Shares on issue at completion of the Offer1

454,622,808

Options

Numbers

Options Currently on issue at date of the Offer

37,335,750

Unlisted Options exercisable at $0.3220 on or before 21 November 2018

100,000

Unlisted Options exercisable at $0.4000 on or before 31 March 2019

12,235,750

Unlisted Options exercisable at $0.2700 on or before 10 April 2020

5,000,000

Unlisted Options exercisable at $0.7500 on or before 15 September 2020

9,000,000

Unlisted Options exercisable at $1.0000 on or before 15 September 2021

6,000,000

Unlisted Options exercisable at $1.2500 on or before 15 September 2022

4,000,000

Unlisted Options exercisable at $0.36 on or before 15 January 2020

1,000,000

Options offered under the Offer

Nil

Total Options on issue at completion of the Offer

37,335,750

Notes:

1.

The number of Shares on issue assumes that no Options currently on issue are

exercised prior to the Record Date.

2.

The number of New Shares issued assumes that the Offer is fully subscribed and that

no Options currently on issue are exercised prior to the Record Date.

Further information

The Rights Issue is made to Shareholders with registered addresses in Australia, Hong Kong, New Zealand, Germany and Singapore.

Full detail of the Rights Issue will be contained in the Offer Document that will be mailed to all Eligible Shareholders who are registered on the Record Date. Shareholders eligible to participate should read the Offer Document carefully.

If you have any questions in relation to any of the above matters, please contact the Company on +61 8 9242 2227. For other questions, you should seek professional advice.

Yours Sincerely

Stephen Jones Company Secretary

Disclaimer

Kin Mining NL published this content on 12 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 12 October 2018 01:47:02 UTC

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