Investor Presentaiton

Northern Australia based Projects Long-term Scalable Production in a low-risk 53 jurisdiction Total Metals Inventory in Mineral Resources (MRE) 1 470,000oz gold + 16.2Moz silver + 177,200t zinc Stage 1+2 Project Pre-tax NPV (8) of A$171m / 63% IRR Near-term Gold Production • • Project PFS Fountain Head Stage 1 ~30koz Au per year - Gold/silver production 157,600 oz AuEq over 5 years Plant and Infrastructure cost ~A$46m Government and Environmental approvals ongoing Development decision pending Govt/Env approvals and financing Hayes Creek Stage 2 - High grade zinc-gold-silver sulphides Low cost, high-margin development opportunity Uses void space from Stage 1 gold mining for tailings Regional Exploration Focus Large 1,500km² gold/base metals exploration portfolio Priority targets with significant gold potential identified Strong Funding Support Supportive cornerstone investors Argonaut PCF appointed as Debt Advisor Undervalued Investment Opportunity PNX EV only A$20.2m = Au EV~$46.8/oz (excl. Ag & Zn) Well below peer group (explorer/developer) average of A$70- 100/oz gold 1. See Appendix for further information on Mineral Resources and PFS 3

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