The Company is pleased to advise that a reverse circulation drill program of up to 2,800 metres has commenced at the Fountain Head Gold Project (“Fountain Head”). The program aims to test newly identified exploration targets with the potential to host additional ‘near-mine’ gold resources. Fountain Head is 100% owned by PNX and located on granted Mineral Leases approximately 170 km south of Darwin in the Pine Creek region of the Northern Territory.