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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 3
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