Fountain Head and Hayes Creek Project Development
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
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•
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
3View entire presentation