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Kingston Resources - Quarterly Activities Report

Mineral Hill Mine, NSW 

* Acquisition of the Mineral Hill Mine (Cobar, NSW) completed on 17 January 2022.
* Gold and silver production for the quarter totalled 1,757koz Au and 3,378koz Ag.
* Tonnes processed for the quarter totalled 159,205kt, with throughput at or above nameplate in March.
* Recoveries continued to ramp up through the quarter, reaching 87% of target levels in March.
* Exploration and development program is underway to establish mine production following completion of the tailings processing operation.
* Drilling through the quarter targeted the Pearse North and SOZ deposits, with first results from Pearse North being reported in April, delivering high-grade gold intercepts including:
-- 39m @ 4.19g/t Au and 37g/t Ag from 37m 

Misima Gold Project, PNG

* Major DFS engineering packages, test work and mine design finalised during the quarter, with final project estimating, execution planning and financial modelling nearing completion.
* Updated Misima Ore Reserve estimate finalised and released in conjunction with the completion of the DFS.
* Independent studies for the Environmental and Social Impact Assessment (ESIA) largely complete, with work advancing on finalising the full ESIA report for submission.
* Studies required for the Mining Licence (ML) Application are also nearing completion, with submission anticipated alongside the ESIA.  


* Quarter-end cash balance of $10.8 million.
* During the quarter, Kingston replaced the Mineral Hill environmental bond ($3.5 million) and paid the cash consideration for Mineral Hill ($1.4 million).
* Exploration and development expenditure for the quarter totalled $3.5m. 

For more information, download the attached PDF.

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