Fountain Head Exploration
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 + 177,200+ zinc
Stage 1+2 Project Pre-tax NPV (8) of A$171m / 63% IRR
Project PFS Fountain Head Stage 1 Near-term Gold Production
~30koz Au per year
.
•
Gold/silver production 157,600 oz AuEq over 5 years
Total funding of A$46m to commence production
Government and Environmental approvals from Q1 2022
Stand-alone gold plant construction from Q1 2022
Gold production target from Q3 2022
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
Undervalued Investment Opportunity
PNX AU EV only A$23.3m = ~$49.6/oz gold (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