Kin Mining NL (ASX: KIN or the Company) is pleased to advise of two new agreements which continue to advance its strategy of focusing on advanced targets around the Cardinia Gold Project (CGP) in Western Australia.

Kin is currently conducting a drilling program at the CGP with the aim of testing new targets in close proximity to the proposed processing plant site (refer ASX announcement 3 December 2019).

Tenement Acquisition

The Company has entered into a sale and purchase agreement with Golden Mile Resources Limited (ASX: G88) for Kin to acquire 100% of two tenements that are contiguous with Kin's existing CGP tenure, one to the north of the Cardinia mining centre and one to the south.

The tenements are interpreted to capture positions of mineralised cherts similar to those encountered within the CGP.

Northern tenement P37/7878, is interpreted to contain strike extensions of the Comedy King - Triangle Trend and the Hobby-Rangoon Trend.

Southern tenement P37/8223, is interpreted to contain strike extension of the Golden Dolerite Trend.

Kin has agreed to make a $30k cash payment to G88 as consideration. Deeds of assumption containing royalty payments of 1% of gold production have been executed with third party royalty holders. The tenements acquired from G88 have undergone only prospecting level exploration. Initial work by Kin will include soil sampling, geological mapping and rock chip sampling of prospective horizons and surface mineralisation.

Desdemona North Earn-in

Kin has agreed to privately-owned Yilgarn Exploration Ventures PL (Yilgarn) earning into exploration tenure at Desdemona North, 40km south west from the CGP. Kin and Yilgarn have now entered into an agreement with the following key terms: Initial due diligence period to 31 January 2020

Two stage earn-in comprising the following: Stage 1 - Yilgarn sole funding $3.5m to earn 75% over three years with a minimum expenditure commitment of $250k in the first year. If the full $3.5M is not achieved within three years, Kin retains 100% ownership.

Stage 2 - Upon completing the Stage 1 commitment, Kin may elect to contribute for its 25% or elect to dilute by Yilgarn sole funding further exploration expenditure. If Kin's interest falls to 5%, it is deemed to have withdrawn and its ownership reverts to a 1% Net Smelter Royalty.

Desdemona South Farm-in

As advised earlier this month, Kin has also agreed to Genesis Minerals Ltd (ASX: GMD) farming into the Desdemona South tenements (refer GMD ASX announcement 10 December 2019)

The key terms of the three stage earn-in are as follows: Stage 1 - GMD to sole fund $1.0m of expenditure over three years to earn a 60% interest. Minimum expenditure commitment of $250k in the first 18 months. If $1.0m of expenditure is not achieved in the first three years, Kin retains 100% ownership.

Stage 2 - GMD can increase its interest to 70% by sole funding an additional $0.55m of expenditure.

Stage 3 - GMD can increase its interest to 80% by sole funding an additional $1.1m of expenditure.

Kin may elect to participate and fund its share of exploration expenditure at the 40%, 30% or 20% level. If Kin's interest falls to 5%, it is deemed to have withdrawn and its ownership reverts to a 1% Net Smelter Royalty.

Contact:

Andrew Munckton

Tel: +61 8 9242 2227

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