Ann: Increase in Contained Gold and Silver at Pearse North, page-2

Increase in Contained Gold and Silver at Pearse North
Updated open pit mineral resource estimate at Mineral Hill
Highlights
• MRE for Pearse North increased for gold and silver by 30% and 67% respectively to 292kt @
3.2 g/t Au and 34 g/t Ag for 30 koz of gold and 318 koz of silver.
• Greater confidence in the deposit’s continuity: Review of the orientation of mineralisation shows
greater spatial continuity than previously modelled.
• Optimising the mine plan for current gold prices: The planned pit design is being re-optimised to
take advantage of current gold prices.
Kingston Resources Limited (ASX:KSN) (“Kingston’, or ‘The Company’ is pleased to announce an updated
JORC 2012 Mineral Resource Estimate (MRE) for the Pearse North of 292kt @ 3.2 g/t Au and 34 g/t Ag for
30,000 oz of gold and 318,000 oz of silver. This update is supported by additional drilling data that was
acquired in 2023 and the refinement of the geological interpretation.
In comparison to the 2022 MRE for Pearse North, contained gold and silver has increased 30% and 67%
respectively. This update presents a significant opportunity to take advantage of recent momentum in the
gold price. Mining at Pearse North is scheduled to commence in the current quarter.
An update of the pit optimisation and mine design with this MRE is currently underway. Gold and silver
production from the Pearse pits is expected to have a material impact on Kingston’s balance sheet. Further
updates will be provided when the updated mining schedule is finalised. The refurbishment of the processing
plant is progressing on time and budget in readiness for treatment of the gold ore from the Pearse deposits.
Table 1: Pearse North Mineral Resource Estimate at 1.0g/t Au Cut Off
Classification Tonnes kt Grade Au g/t Grade Ag g/t Metal Au koz Metal Ag koz
Indicated 270 3.2 34.2 28 297
Inferred 22 2.9 29.1 2 21
Total 292 3.2 33.9 30 318
* Due to rounding to appropriate significant figures, minor discrepancies may occur, tonnages are dry metric tonnes.
Kingston Resources Managing Director, Andrew Corbett, comments:
“We are excited about the transition from tailings mining to open pit mining at our Pearse North Project. This
shift will allow us to significantly expand our gold production over the coming year, while also increasing
operating cash flow. The high-grade nature of the pits and the momentum in the gold price provide a strong
backdrop for maximising margins from this highly lucrative resource.
The entire technical team has done a fantastic job ensuring the Project has access to high-quality Mineral
Resources and Ore Reserves necessary to support a successful Mine Plan.”