Investor Presentaiton

Glencoe 100% owned MLS - Gold Deposit 3km north of Fountain Head Mined second in proposed Production Schedule 'Bolt on' asset that has significantly expanded the Fountain Head gold development Increased tailings and management flexibility water Updated MRE 2.1 Mt @ 1.2 g/t Au for 79,000 oz Au (Inferred)* Remains open with strong exploration potential and numerous open intercepts 'Historic' resources Inferred, lack of QAQC not to JORC 2012 standards, drilling to improve geological categorisation Numerous high-grade near-surface rock chips containing gold* Recent successful drilling highlights scale potential (see next slide) 8513500 8513000 8512500 ML 29679 Glencoe Project A Map Grid GDA94 (Zone 52) 0 100 200 300 400 500 m 771000 771500 PNZ METALS Fountain Head pit outlines Fountain Head MRE footprint Glencoe drilling combined 0.3 - 0.5 g/t Au 0.5 - 1.0 g/t Au >1.0 g/t Au Glencoe future mining optimised Plan view comparing Glencoe drilling and optimised pit shells with Fountain Head MRE outline superimposed in yellow PNZ METALS *See Appendix for further details including Full Mineral Resources 17

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