Kin Mining NL (ASX: KIN or 'the Company') is pleased to announce an updated Mineral Resource Estimate (MRE) for the Cardinia Hill deposit, part of its flagship 100%-owned Cardinia Gold Project (CGP), located near Leonora in Western Australia.

The updated Cardinia Hill Indicated and Inferred Mineral Resource of 2.2Mt at 1.5g/t Au for 106koz of contained gold represents an increase of 45k ounces from the previous Mineral Resource estimate announced on 17 May 2021 ('CGP Mineral Resource Estimate Increases to 1.23Moz'). This updated MRE includes the same optimisation parameters used for all existing mineralisation models using a gold price and operating cost assumptions in line with recent experience for open pit extraction.

All open pit Mineral Resource Estimates are reported within optimised shells using the same stringent criteria for costs, recoveries and geotechnical parameters as established in the 2019 Pre-Feasibility Study (PFS) for the CGP, and the application of a 2021 mining cost and gold price assumption of A$2,600/oz.

Stope optimisation studies have not been undertaken for material below the optimised pits. Underground resources have been constrained to the main lode that displays mineralisation continuity that is amenable to underground extraction methods. A cut-off grade of 2.0g/t Au has been utilised. Kin Mining Managing Director Andrew Munckton said the Company was continuing to regularly update its Mineral Resource inventory as drilling results were progressively received from its Phase 4 drilling program across the Cardinia Gold Project.

'This is another pleasing update to the Cardinia Hill Project Resource, delivering a 72 per cent increase in contained ounces, while also ensuring the project-wide MRE is constrained by optimised pit shells and is based on the latest gold price and operating cost assumptions,' Mr Munckton said. 'We are pleased to have delivered a Mineral Resource of over 100,000 ounces for the recently-discovered Cardinia Hill deposit, including a maiden Underground Mineral resource estimate. We believe that Cardinia Hill and several of our other deposits hold potential for similar underground estimates where we see strong potential for MRE growth and category upgrades with further drilling.

'We also have a strong pipeline of depositsthat are yet to be fully assessed which are outside the latest Mineral Resource Estimate, including Eagle-Crow, Mt Flora, Iron King and further depth extensions to Bruno-Lewis deposit with further updates expected during 2022.'

Cardinia Hill Mineral Resource

Cardinia Hill is located approximately 2.5km north-east of the Cardinia office and the centre of the Cardinia Gold Project.

The Cardinia Hill deposit lies within the Welcome Well Formation, a package of intermediate to felsic volcanic rocks and derived sediments. The geology consists of a discordant structure with footwall andesitic volcanic rocks and dominantly hanging-wall dolerite and mafic intrusive rocks. The Northern lode of Cardinia Hill is controlled by the discordant Cardinia Hill Fault, with the Southern lode controlled by a felsic porphyry in the hanging-wall of the fault. Both lodes have extensive carbonate replacement alteration, where the dolerite host rock is completely replaced by siderite and dolomite. High grade gold mineralisation is coincident with strongly anomalous and occasionally high-grade Silver, Bismuth, Copper, Molybdenum, Lead, Antimony, Tellurium, Tungsten and Zinc.

Contact:

Andrew Munckton

Tel: +61 8 9242 2227

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