The Company is pleased to announce it has increased its Northern Territory exploration footprint in an area highly prospective for gold, base metals, and uranium.

The Company has satisfied the terms of a Farm-In Agreement with private operators Oz Uranium Pty Ltd and Rockland Resources Pty Ltd, covering two granted Mineral Leases, one Mining Lease Application and five Exploration Licences.

This acquisition continues to strengthen PNX’s footprint in the Pine Creek region. The new licenses are contiguous with PNX’s existing tenements at Hayes Creek that host the zinc-gold-silver mineral resource at Iron Blow. The Iron Blow and Mt Bonnie massive sulphide zinc-gold-silver deposits form a core part of PNX’s proposed Fountain Head and Hayes Creek Project development