Western Australian Projects
Cardinia / Mertondale
The 100% owned Cardinia Gold Project is located in the highly prospective North-Eastern Goldfields region of Western Australia, 40km NE of Leonora. The tenure is located within the Minerie Domain in the central part of the Norseman-Wiluna Greenstone Belt, which extends for approximately 600 km on a North-North-West trend across the Archean Yilgarn Craton of Western Australia.
The Cardinia Gold Project comprises the Mertondale and Cardinia East Projects. Together they contain 1Moz’s of JORC compliant gold Resources. The Project is located close to existing third party processing infrastructure.

Resources
The company confirms that it is not aware of any new information or data that materially affects the information included in the ASX Announcements above, and that all material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed.
The information in this table that relates to the Mineral Resources for Mertons Reward, Mert 3-4/Nth and Mert 5 have been extracted from PTN ASX Announcement on 12th Feb 2025 titled ‘Mertondale MRE Update’. Resources for Quicksilver, Eclipse, Tonto and Cardinia East have been extracted from the Company’s ASX announcement on 3 July 2023 titled “Cardinia Gold Project Mineral Resource Passes 1.5Moz” and are available at www.asx.com. Mineral Resources reported in accordance with JORC 2012 using a 0.4 g/t Au cut-off within AUD2,600 optimisation shells1. Underground Resources are reported using a 2.0 g/t cut-ff grade outside AUD2,600 optimisation shells.

Base Metals
Patronus began re-assessing the potential for base metal mineralisation within the under explored Minerie Domain in 2023. Model Earth was engaged to analyse geochemistry around the Cardinia area and complete detailed surface mapping and re-logging of previous drilling.
Detailed mapping and re-logging of core identified fertile areas and further prospective horizons. VMS mineralisation was identified in IP22DD001 which returned 5.7m @ 5.3% Zn, 0.34% Cu, 0.3% Pb, 40ppm Ag, 1.00 ppm Au from 270.3m down hole (See ASX KIN 8 Jnuary 2024). The geology and mineral assemblage is consistent with a distal facies of a volcanogenic base metals sulphide deposit (VMS). Continued systematic exploration for VMS mineralisation at Cardinia is ongoing along the newly identified favourable horizons (Viktor, Albus, Luna, Cedric, Minerva).
To date, 40 km of prospective horizons have been identified which will be the focus of future exploration programs.
Other Projects

Desdemona
The Desdemona project is a contiguous tenement package immediately south of the Sons of Gwalia mine and contains the north-south trending structural corridor between two major through-going structures, the Gwalia Shear Zone and the Ockerburry Fault. Desdemona contains the same stratigraphy and structures of both the Sons of Gwalia and Ulysses mines, operated by Genesis Minerals Ltd.
Early exploration activities at Desdemona were hindered by the presence of widespread cover, high water flows and deep clays. Many previous drill programs failed to reach target depth and in several cases bedrock testing could not be achieved. Nonetheless, the Project has generated numerous target zones that warrant follow up investigation. The area displays anomalous historical geochemical soil and drill results over several buried targets scattered over large areas, indicating gold mineralisation.
The most notable significant historical intercepts include:
3m @ 17.3 g/t Au at El Capitain CWA728 from 42m
18m @ 10.4 g/t Au at Desdemona South HWA037 from 60m
Additionally, there is a historical Ni, Cu and PGE target at Kingfisher, which was discovered in the late 70’s by Glomex Exploration. It is associated with a brecciated shear contact between peridotites over basal rhyolite, in an open NE trending syncline.
Significant historical intercepts include:
0.9m @ 2.0% Ni and 1.5% Cu from 101.2m and 1.8m @ 1.55 g/t Pt and 6.51 g/t Pd from 100.6m in HWDD2
0.3m @ 1.33% Ni and 0.25% Cu from 111.9m in HWDD3


Iron King
The Iron King Project is located 14km NW of the King of the Hills gold mine and 50km NNW of Leonora, in WA. The Project overlies the eastern flank of the Tarmoola Anticline, positioned between the Clifford Fault to the east (interpreted to be the northern extensions of the Gwalia Shear Zone), and the Minnieritchie Fault to the west. The archean greenstone sequence is comprised of a highly deformed NW to NNW trending shears intruded by numerous granites, porphyries and proterozoic dolerite dykes. Gold anomalism occurs along the entire length of the shear system, and all are associated with historic workings.
The project area is adjacent to the historic high-grade Iron King, Blue Spec and Victory mines.Pre 1954 production figures include:
Blue Spec - 177 tonnes @ 56.6 g/t Au
Victory - 3,726 tonnes @ 95.6 g/t Au
Iron King - 96.6 tonnes @ 23 g/t Au
Iron King was first pass tested with Reverse Circulation drilling in 2022 with numerous encouraging results that have yet to be followed up, including;
8m @ 1.79 g/t from 13m (IK22RC005)
2m at 2.74 g/t from 54m (IK22RC006)
See ASX announcement 28th July 2022
Results proved that there is gold mineralisation associated with quartz veining and sulphides adjacent to a granodiorite intrusion.
