Patronus Resources (PTN) investor relations material

Financial Position and Corporate Strategy

• Holds AUD 65 million in cash and investments, supporting fully funded exploration and disciplined capital allocation.

• Maintains one of the lowest EV to resources ratios in the industry, trading at a discount to cash and asset backing.

• Market cap of $86M and enterprise value of $12M, reflecting a compelling valuation.

• Focuses on disciplined spending and strategic growth in two Tier-1 gold jurisdictions: Pine Creek (NT) and Leonora/Cardinia (WA).

• Leadership team with deep experience in exploration, mine development, and corporate strategy, supporting aggressive exploration targets.

Exploration Activities and Project Updates

• Multi-rig, 30,000-meter drilling campaign underway at Pine Creek, targeting multiple high-priority gold anomalies and resource growth.

• Fountain Head deposit holds 283koz Au with mining and processing approvals; recent drilling intersected 2.61m at 6.4g/t gold, confirming mineralisation extensions.

• Cardinia Gold Project near Leonora hosts a 1Moz Au resource, with strong third-party processing options and heritage protection agreement process advancing.

• Guppy is an emerging gold discovery south of Cardinia East, with shallow, coherent mineralisation open along strike and down-dip; follow-up drilling planned.

• Mertondale features high-priority growth targets at Koi and Merlin, with drilling confirming high-grade mineralisation beyond current resources.

Industry Context and Regional Outlook

• Pine Creek is an underexplored gold province with a 20-million-ounce endowment and collaborative industry environment.

• Major players like Agnico Eagle are investing heavily in resource upgrades, with 48,000 meters of drilling planned in the region.

• Local mills and infrastructure provide multiple processing options for future discoveries.

• Resource base includes gold, silver, and base metals, with significant expansion potential across both NT and WA hubs.