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Kin Mining NL

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Summary

Project:

Leonora

Deposit:Mertons Reward
Location:Australia
Commodities:Gold
Date:12/1/2016
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resource Increase/Upgrade
Report details:1-12-2016: Kin Mining NL announces an Exploration/Drilling Update report for its Mertons Reward deposit at the Leonora project. Drilling results incl. 29m @ 1.4g/t Au from 6m. Kin Mining NL (ASX: KIN) is pleased to announce high-grade drilling results of
Resources:(Resource): 1.08Mt @ 2.6g/t Au for 91000oz Au contained at Merton's Reward
CP/QP:[Overall Report]: Paul Maher (Internal)
ABSTRACT:Kin Mining NL (ASX: KIN) is pleased to announce high-grade drilling results of up to 22.5 g/t from the Merton’s Reward deposit at its Leonora Gold Project in WA. Some of the drill results come from outside the planned open pit design. The latest results will be included in the revised JORC Resource-Reserve estimate which will be calculated as part of the Definitive Feasibility Study on the Leonora Gold Project in the first half of next calendar year. The project currently has a JORC Resource of 722,000 oz (see ASX Announcement dated October 31st 2016). Kin is on track to release the updated Pre-feasibility Study on the Leonora Project this month. The study centres on an operation producing at a rate of 45,000 - 50,000 ozpa (see ASX Announcement dated November 24th 2016). Kin confirms that in accordance with the "Positive Scoping Study" announcement dated 9th May 2016 that all the material assumptions underpinning the annual production targets as provided in that report continue to apply and have not materially changed. The latest results from the Merton’s Reward come from a 940 m (270°/-60°) drilling program (drill holes MR16RC022 to MR16RC032) which was designed to intersect shallow gold mineralisation amenable to open pit development. Multiple wide zones of gold mineralisation were intersected close to surface, complementing the significant drill results returned from the June-July Merton’s Reward drill program (see ASX Announcement dated July 11th 2016). The latest drilling not only intersected zones of mineralisation within the confines of the proposed pit, but also confirmed that the mineralised envelope extends beyond the current pit design. Kin Managing Director Trevor Dixon said “The results provided further strong evidence of the potential to grow the inventory and mine life at the Leonora Gold Project. We believe there is a lot more gold to be found at Mertondale and these results support our view.” “Given the wide zones and shallow depths that we are continuing to see, the impact on the economics of the project could be substantial” Mr. Dixon said.

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