Ann: Hayes Creek Zinc-Gold-Silver Project Update, page-2

Managing Director Comment
PNX Managing Director James Fox said “The Hayes Creek DFS drill program has been a great success, particularly in terms of identifying potential to increase feed to the proposed Process Plant from Mt Bonnie. The intersection of massive sulphides below the existing pit design and outside of the existing resource area bodes well for providing incremental growth to the initial 6.5yr mine life modelled for the Hayes Creek Project, and is expected to have a positive flow through effect on the already strong project economics.
We look forward to receiving the assays from this program which are due early in the New Year and to recommencing our exciting exploration in 2018 where we will look to test high priority targets in close proximity to the Hayes Creek Project.