Patronus Resources (PTN) Investor Presentation summary

Investment highlights

• $70 million in cash and investments provides strong funding for exploration and growth initiatives.

• Trading below asset value, with an enterprise value/resource multiple of $24/oz AuEq, indicating significant re-rate potential.

• Disciplined capital management and an aligned shareholder base support long-term value creation.

• Multi-commodity exposure includes gold, uranium, zinc, silver, and base metals across Tier-1 Australian jurisdictions.

• Active growth strategy through exploration and strategic M&A.

Project portfolio and resources

• Flagship projects in Leonora (WA) and Pine Creek (NT) with a combined 2.3Moz AuEq resource.

• Cardinia Gold Project in Leonora hosts a 1Moz open pit resource, with significant exploration upside at Mertondale and Cardinia East.

• Pine Creek offers district-scale opportunity with 283koz Au open pit resources and world-class uranium and VMS/base metal potential.

• Hayes Creek VMS Project contains 177kt Zn, 16Moz Ag, and 0.2Moz Au, with over 40km of prospective stratigraphy.

• Thunderball deposit in Pine Creek confirmed as a high-grade uranium discovery, with recent diamond drilling and bonanza-grade intercepts.

Exploration and development progress

• Upgraded Mertondale resource: 18% increase in grade to 1.4g/t Au and 28% increase in Indicated Resources to 303koz.

• Ongoing exploration at Mertondale East Shear Zone, Koi, and Merlin targets, with encouraging gold intercepts and results pending.

• Cardinia drilling at Guppy returns shallow gold intercepts, supporting near-surface potential.

• Pine Creek belt-scale geochemistry program has identified multiple kilometre-scale gold anomalies, with infill sampling and drill planning underway for 2026.

• Fountain Head Gold Project in NT has mining and processing approvals, with immediate expansion targets and high-grade drill results.