Kin Mining NL : ASX Investor – Gold Investor Event Presentation

Investor Presentation

ASX Investor - Gold Investor Event February 2020

Disclaimer

Disclaimer

This presentation is not a prospectus nor an offer for securities in any jurisdiction nor a securities recommendation. The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions in connection with any acquisition of securities, investors should rely on their own examination of Kin Mining NL and consult their own legal, business and/or financial advisers.

The information contained in this presentation has been prepared in good faith by Kin Mining NL, however no representation or warranty expressed or implied is made as to the accuracy, correctness, completeness or adequacy of any statements, estimates, opinions or other information contained in this presentation. To the maximum extent permitted by law, Kin Mining NL, its directors, officers, employees and agents disclaim liability for any loss or damage which may be suffered by any person through the use or reliance on anything contained in or omitted from this presentation.

Forward-Looking Statements

This release contains "forward-looking information" that is based on the Company's expectations, estimates and projections as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to the feasibility and definitive feasibility studies, the Company's' business strategy, plan, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, mineral reserves and resources, results of exploration and operational expenses. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as 'outlook', 'anticipate', 'project', 'target', 'likely',' believe', 'estimate', 'expect', 'intend', 'may', 'would', 'could', 'should', 'scheduled', 'will', 'plan', 'forecast', 'evolve' and similar expressions. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to the risk factors set out in the Company's Prospectus dated October 2014.

This list is not exhausted of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intent or obligations to revise any forward-looking statements whether as a result of new information, estimates, or options, future events or results or otherwise, unless required to do so by law. Statements regarding plans with respect to the Company's mineral properties may contain forward-looking statements in relation to future matters that can be only made where the Company has a reasonable basis for making those statements. This announcement has been prepared in compliance with the JORC Code 2012 Edition and the current ASX Listing Rules. The Company believes that it has a reasonable basis for making the forward-looking statements in this announcement, including with respect to any mining of mineralised material, modifying factors and production targets and financial forecasts.

Competent Person's Statement

The information contained in this report relating to Resource Estimation results relates to information compiled by Mr Jamie Logan. Mr Logan is a member of the Australian Institute of Geoscientists and is a full time employee of the company. Mr Logan has sufficient experience of relevance to the styles of mineralisation and the types of deposit under consideration, and to the activities undertaken to qualify as a Competent Person as defined in the 2012 edition of the JORC "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".

Mr. Logan consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

The information in this report that relates to 2017 Mineral Resources is based on information reviewed and compiled by Dr. Spero Carras of Carras Mining Pty Ltd (CM). Dr. Carras is a Fellow of the Australasian Institute Mining and Metallurgy (AusIMM) and has over 40 years 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. Mark Nelson, Consultant Geologist to CM with over 30 years experience and is a Member of the Australasian Institute Mining and Metallurgy (AusIMM) with sufficient experience in 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. Gary Powell Consultant Geologist to CM with over 30 years experience and is a Member of the Australasian Institute Mining and Metallurgy (AusIMM) and the AIG with sufficient experience in 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".

CM also acted as auditors of the 2009 McDonald Speijers resource estimates for Eclipse, Quicksilver, Forgotten Four and Krang.

Dr. S. Carras, Mr. Mark Nelson and Mr. Gary Powell consent to the inclusion in the report of the matters based on their information in the context in which it appears.

The information contained in this report relating to exploration results relates to information compiled or reviewed by Glenn Grayson. Mr. Grayson is a member of the Australasian Institute of Mining and Metallurgy and is a full time employee of the company. Mr. Grayson has sufficient experience of relevance to the styles of mineralisation and the types of deposit under consideration, and to the activities undertaken to qualify as a Competent Person as defined in the 2012 edition of the JORC "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".

Mr. Grayson consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

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Cardinia Gold Project

Delivering a more robust, higher returning gold project

A large gold development asset:

Mineral Resource of 841koz Au defined at the Cardinia Gold Project in both supergene and deeper mineralisation

Located in attractive gold mining region:

Large 414km2 land package 30km east of Leonora characterised by large mineral deposits with considerable untested exploration potential

Completed PFS shows positives future returns:

Baseline 8+ year mine life producing an average 51koz gold per annum for the first 5 years

Exploration programs underway to enhance project returns:

Targeting new, high value, higher grade gold deposits within close proximity to the proposed Cardinia processing plant site

Several new discoveries made in December 2019 drilling:

Promising results from Cardinia Hill, Lewis East and Comedy King point to a much larger mineralised system at Cardinia than previously defined

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Corporate overview

ASX: KIN

Share price (10 Feb 2020)	A$0.042
Ordinary shares on issue	571.0M
Options (exercise $0.27 - $1.25)	24.0M
Market capitalisation (undiluted)	$24.0M
Cash (31 December 2019)	$2.7M
Debt	Nil
Liquidity (avg. daily traded shares)	531,000

Board of Directors

Andrew Munckton	Managing Director
Joe Graziano	Chairman
Brian Dawes	Non-Executive Director
Nicholas Anderson	Non-Executive Director
Hansjoerg Plaggemars	Non-Executive Director

Shareholders

Retail Investors

Directors

High Net Worths

Institutional

Share price - 12 months

$0.09

$0.08

$0.07

$0.06

$0.05

$0.04

$0.03

$0.02

$0.01

$0.00

2%

31%

65%2%

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Technical and geology team

Technical management

Key consultants

Andrew Munckton

Managing Director and

CEO

Glenn Grayson

Exploration Manager

• Geologist with 35+ years experience, technical and operations, underground and open pit
• Previous Managing Director of Avalon Minerals, General Manager Gindalbie Metals
• Previously General Manager of Operations Paddington, Kanowna Belle and Kundana
• Geologist with 23+ years experience
• Extensive experience with resource development and extension at Kundana, Kanowna Belle, Fosterville
• Previous senior positions with Northern Star Resources, Barrick and Northgate Minerals

Entech	•	Respected industry consultants
	• Specialists in Open Pit Optimisation,
		mine design and scheduling
Como Engineers	•	Established industry consultants with
		long history
	•	Delivering process engineering,
		metallurgy and construction services
Jon Standing	•	Expert stratigraphic structural and
		economic geologist
	• Comprehensive mapping of the
		company Tenure
Russel Mortimer	•	Consultancy assisting with

John Kelly

Engineering Manager

• Engineer with 30+ years industry experience
• Extensive experience with operations and contract mining in both open pit and underground
• Previous senior positions with Resolute, Roche, Alcoa, Mt Gibson, Sinosteel Midwest

/Southern	geophysical advice and strategy
Geoscience	around acquiring the appropriate
	field data
Nigel Brand	• Geochemical consultant specialising
	in exploration geochemistry
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Minerie Greenstone Belt

A large mineralised system delivering new gold discoveries

• The Cardinia Gold Project (CGP) is centred around a controlling 414km2 landholding in an underexplored greenstone belt which has yielded multiple deposits
• Large alteration systems related to gold mineralisation identified throughout the area
• Until recently, exploration completed during the past decade was focused on areas of known deposits
• Over 60% of the tenure is under recently transported cover and has seen little modern exploration
• Primary mineralisation below 100m remains largely untested throughout the region
• Exploration completed during 2H 2019 has targeted new deposits within 5km of the process plant site

Mertondale 5

Eclipse, Tonto

Quicksilver

Mertondale 2, 3-4

Gambier Lass

Bruno-Lewis

Websters

Michelangelo

Randwick

Hobby

Helens

Recent exploration success

Three potentially significant new discoveries made in drill testing of six gold targets in December 2019

• Key objective of identifying new deposits with potential to enhance the CGP mine plan as outlined in the 2019 PFS
• Comedy King aircore results included:
• • 12m at 14.9 g/t Au from 4m
  • 4m at 8.3 g/t Au from 20m (end of hole)
  • 20m at 2.3 g/t Au from 0m
  • 12m at 2.7 g/t Au from 4m
• Lewis East aircore results included:
• • 4m at 11.6 g/t Au from 8m
  • 53m at 1.3 g/t Au from 4m (end of hole)
  • 32m at 1.1 g/t Au from 0m
• Cardinia Hill aircore results included:
• • 20m at 1.4g/t Au from 8m
  • 24m at 1.6g/t Au from 24m (end of hole)

Completed aircore lines at the Comedy King over historical drilling and recent rock chip results

Completed aircore lines at Lewis East over	7
historical drilling results

Cardinia area depth potential

Major mineralised corridor ineffectively tested . At Cardinia 400Koz Mineral Resource within 75m of surface

All drilling

Drilling deeper than 50m vertical depth

Drilling deeper than 100m vertical depth

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Exploration momentum to continue

Extensional drilling of new discovery areas to resume in the current

March quarter 2020

Hobby

• Cardinia is a large mineralised system with substantial high-grade zones within broader zones of alteration containing lower grade material
• The NE trending Lewis Fault and associated subsidiary faults are the key structures controlling mineralisation. These will be the target of future exploration programs
• Cardinia Hill, Comedy King and Lewis East remain open and warrant immediate follow-up drilling
• Drilling in March 2020 is expected to target:
• • Extensions of high grade vein style mineralisation at Comedy King
  • Strike and depth extensions at Cardinia Hill
  • Infill drilling at Lewis East
  • Extension drilling of high-grade mineralised positions along the Lewis Fault

Rangoon

Comedy

King

Bruno

LewisCardinia

Hill

Black

Chief Helens

Kyte

Lewis

East

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Pre-Feasibility Study outcomes

A viable development project with significant leverage to the Australian dollar gold price

• An 8+ year mine life producing an average 51koz gold per annum for the first five years
• New discoveries have potential to improve forecast gold output and returns by displacing higher cost ounces from Mertondale area in the early years

PROJECT ECONOMICS

Base Case gold price (A$)	$2,000/oz	$2,200/oz
Exchange Rate (US$:A$)	0.70	0.70
Life of Mine Revenue (A$)	$736.2M	$809.8M
C1 Cash Costs 2	$1,284/oz	$1,284/oz
Adjusted Operating Costs 3	$1,349/oz	$1,349/oz
All-In-Sustaining Costs 4	$1,442/oz	$1,442/oz
Pre-Tax Operating Cash Surplus	$128.4M	$199.8M
Net Present Value (NPV8%)	$66.8M	$118.0M
Internal Rate of Return (IRR)	17%	29%

• Cut-offgrade 0.5 g/t Au

2 C1 Cash Costs (C1) includes all mining, surface haulage, processing, refining, by-product credits and onsite overhead costs 3 Adjusted Operating Costs (AOC) includes C1 costs plus royalties

4 All-In-Sustaining Costs (AISC) includes AOC plus closure costs and sustaining capital, but excludes head office corporate costs and Tax Totals may vary due to rounding	10

Processing centre

Development foundations established

• Ownership of existing processing infrastructure enables ability to expedite future project development
• Lawlers process plant deconstruction commenced 3 February 2020
• Ball mill, workshop, office and tanks (in part) already at Cardinia
• Development is based on two open pit mining centres at Cardinia and Mertondale which feed a 1.5Mtpa conventional CIL processing plant located at Cardinia
• PFS contemplates processing 11.4Mt at 1.09g/t Au (398koz) to deliver 368koz of recovered gold over an initial Life of Mine of 8.2 years

Lawlers process plant - ball mill and crushing plant

Cardinia process plant site works

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Investment proposition

Delivering a more robust, higher returning gold project

							$
Advanced 841Koz		The first drilling of		New discoveries		Extensional drilling of	Attractive valuation of
gold project in an		new target areas at		have potential to		the new discovery	existing development
attractive gold mining		Cardinia in a decade		significantly enhance		areas to be	project with significant
region with		has immediately		the forecast returns		undertaken in the	potential to deliver
considerable		yielded three new		outlined in the 2019		current March	further exploration
untested exploration		gold discoveries		PFS		quarter 2020	valuation upside
potential now being		within 5km of the
delivered upon		process plant site

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Contact details

Kin Mining NL

Level 1, 342 Scarborough Beach Rd Osborne Park WA 6017

1. 61 8 9242 2227

1. [e-mail]

ASX: KIN

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Appendices

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APPENDIX A

CGP Resource & Reserve underpins future mine plan1

• Total Mineral Resource estimate of 18.2Mt @ 1.4g/t for 841koz (June 2019)
• Predominantly defined in Cardinia and Mertondale areas
• Probable Ore Reserve estimate of 7.9Mt @ 1.1g/t Au for 283koz (August 2019)
• Total mill feed of 11.4Mt @ 1.1g/t Au at estimated 92% recovery for forecast 368koz recovered gold
• Baseload feed sourced from the Bruno-Lewis system, located only 1km from the process plant site
• Higher grade satellite sources at Helens, Kyte, Mertondale 5 and Mertondale 3-4

Resource and Reserve estimates

Increase in total Mineral Resource tonnage, grade and contained ounces from March 2019 estimate

New Ore Reserve based on more conservative modifying factors including pit wall angles, dilution and recoveries applied

Further significant upside potential to Mineral Resource, Ore Reserve and forecast mill feed from additional drilling

1 For full Mineral Resource and Ore Reserve estimate information, please refer to Appendix E and F slides

APPENDIX B - Kin Mining NL Mineral Resources

Notes

• See ASX Announcement 9 July 2019 "Bruno-Lewis Mineral Resource Update"
• See ASX Announcement 1 April 2019 "Cardinia Gold Project Mineral Resource Update"
• The Company confirms that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed at the time of publication.
• Totals may not tally due to rounding of values.
• Mineral Resources estimated by Jamie Logan of Kin Mining NL and reported in accordance with JORC 2012 using a 0.5g/t Au cut-off within Entech A$2,000 optimisation shells.

Cardinia Gold Project: Mineral Resources: June 2019

	Resource	Lower	Measured Resources	Indicated Resources	Inferred Resources	Total Resources
Project Area	Gold Price	Cut off	Tonnes	Au	Au	Tonnes	Au	Au	Tonnes	Au	Au	Tonnes	Au	Au
	(AUD)	(g/t Au)	(Mt)	(g/t Au)	(k Oz)	(Mt)	(g/t Au)	(k Oz)	(Mt)	(g/t Au)	(k Oz)	(Mt)	(g/t Au)	(k Oz)
Mertondale
Mertons Reward	$2,000	0.5				0.8	2.3	60	0.4	1.0	15	1.2	1.9	74
Mertondale 3-4	$2,000	0.5				1.2	2.0	75	0.4	1.4	20	1.6	1.8	95
Tonto*	$2,000	0.5				1.8	1.3	75	0.0	1.3	0	1.8	1.3	75
Mertondale 5*	$2,000	0.5				0.6	2.2	40	0.0	2.2	3	0.6	2.2	43
Eclipse **	$2,200	0.5							1.2	1.4	55	1.2	1.4	55
Quicksilver **	$2,200	0.5							0.8	1.5	40	0.8	1.5	40
Subtotal Mertondale						4.3	1.8	250	3.0	1.4	132	7.3	1.6	383
Cardinia
Bruno	$2,000	0.5				0.9	1.0	28	1.9	1.3	78	2.8	1.2	106
Lewis	$2,000	0.5	0.4	1.0	12	3.6	0.9	108	1.0	1.1	33	4.9	1.0	153
Kyte	$2,000	0.5				0.3	1.6	16	0.0	1.3	2	0.4	1.5	18
Helens	$2,000	0.5				0.7	2.2	47	0.2	1.8	14	0.9	2.1	61
Fiona*	$2,000	0.5				0.2	1.8	13	0.1	1.5	3	0.3	1.7	16
Rangoon*	$2,000	0.5				0.3	1.5	15	0.1	1.1	2	0.4	1.5	17
Subtotal Cardinia			0.4	1.0	12	6.0	1.2	228	3.3	1.3	132	9.6	1.2	372
Raeside
Michaelangelo*	$2,000	0.5				0.8	2.0	53				0.8	2.0	53
Leonardo*	$2,000	0.5				0.1	2.3	9				0.1	2.3	9
Forgotten Four **	$2,200	0.5						0	0.2	2.1	14	0.2	2.1	14
Krang **	$2,200	0.5						0	0.2	2.1	10	0.2	2.1	10
Subtotal Raeside						0.9	2.1	63	0.4	2.1	24	1.3	2.1	87
TOTAL			0.4	1.0	12	11.3	1.5	541	6.6	1.4	289	18.2	1.4	841

*Mineral Resources estimated by Carras Mining Pty Ltd in 2017, and reported in accordance with JORC 2012 using a 0.5g/t Au cut-off within Entech A$2,000 optimisation shells.

** Mineral Resources estimated by McDonald Speijers in 2009, audited by Carras Mining Pty Ltd in 2017 and reported in accordance with JORC 2012 using a	16
0.5g/t Au cut-off within Entech A$2,200 optimisation shells.

APPENDIX C - Cardinia Gold Project - Ore Reserve Estimate1, 2, 3

Open Pit Mine	Classification	Tonnes (t)	Grade (g/t)	Metal (oz. Au)
Kyte	Probable	280,000	1.6	14,000
Bruno Lewis	Proved	430,000	0.9	13,000
Probable	4,790,000	0.8	127,000
Helens	Probable	480,000	1.8	28,000
Rangoon/Fiona	Probable	490,000	1.6	25,000
Mertondale 2/3/4/Reward	Probable	750,000	1.9	45,000
Mertondale 5	Probable	150,000	2.7	13,000
Eclipse	Probable	220,000	1.1	8,000
Tonto	Probable	300,000	1.2	12,000
	Proved	430,000	0.9	13,000
All Pits	Probable	7,460,000	1.1	272,000
	Total	7,890,000	1.1	283,000

• Calculations have been rounded to the nearest 10,000t of ore, 0.1g/t Au grade and 1,000oz Au metal.
  2 Assumes a gold price of A$1,800/oz for Pit Design and A$2000 for Financial analysis

3 Totals vary due to rounding.

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