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Kingston Resources - Misima DFS confirms 1.73Moz gold Reserve, $956m NPV

A significant, long-life Asia-Pacific gold operation:

* Total production of 2.4Moz of gold and 5.6Moz of silver, with gold production of 120-130kozpa
* LOM All In Sustaining Cost (AISC) of A$1,217/oz
* 6.1Mtpa mining and processing operation on a brownfields site with extensive mining history.
* Conventional CIL plant fed by the main Umuna pit and Ewatinona starter pit.

Compelling project economics:

* LOM revenue of A$6.1 billion.
* LOM undiscounted free cash-flows of A$2.7 billion (pre-tax)
* Pre-tax Net Present Value (NPV7%) of A$956m
* Pre-tax IRR of 22.2%

28% increase in Ore Reserves:

* Ore Reserve increased 28% to 76Mt @ 0.79 g/t for 1.73Moz

Project transitioning to approvals and funding

* Kingston now intends to consider a range of funding and strategic options to optimise the development pathway and maximise shareholder value
* Approvals submission anticipated upon conclusion of Environmental and Social Impact Assessment in Q3 2022.

Kingston Resources Limited (ASX: KSN) (Kingston or the Company) is pleased to advise that it has taken an important step towards bringing the Misima Gold Project into production with the completion of a positive Definitive Feasibility Study (DFS).

The DFS confirms the potential for a large-scale, long-life, low-cost operation delivering gold production of 2.4Moz over 20 years at forecast life-of-mine (LOM) all-in sustaining costs (AISC) of A$1,217/oz. Leading independent consultants have been engaged on all key aspects of the project and DFS technical outcomes were very consistent with the PFS confirming the technically robust, low risk nature of the Project.

For more information, download the attached PDF.

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