News

Drilling commenced at the Glencoe gold deposit

2021-07-16T08:07:27+09:30

The Company is pleased to advise that a reverse circulation (RC) drill program of up to 2,000 metres has commenced at the Glencoe gold deposit (“Glencoe”). Approximately 1/3 of the drill program is designed to test for immediate extensions where near-surface gold anomalism highlights along-strike potential, with the remainder to be drilled within the boundary of the Mineral Resource to increase geological confidence. Glencoe is located on a granted Mineral Lease approximately 170km south of Darwin and 3km to the north of PNX’s Fountain Head Gold Project in the Pine Creek region of the Northern Territory.

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Engineers engaged to fast-track gold plant development at Fountain Head

2021-06-29T08:43:34+09:30

The Company is pleased to advise that it has engaged Como Engineers Pty Ltd (“Como”) to assist with fast-tracking the Fountain Head Gold Project development. Fountain Head is 100% owned by PNX and located on granted Mineral Leases approximately 170km south of Darwin in the Pine Creek region of the Northern Territory, and is part of a broader sequential development strategy that includes the Hayes Creek Project (refer ASX release 17 June 2021 ‘Positive PFS supports long-term gold, silver, zinc Project development’). Como is an experienced and well-regarded engineering group that specialises in ‘fit for purpose’ solutions and utilises modular

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Drilling Underway at the Fountain Head Gold Project

2021-06-23T09:32:03+09:30

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.

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Director Appointments

2021-06-18T09:49:02+09:30

The Company is pleased to announce the appointment of Dr Frank Bierlein and Mr Richard Willson as non-executive directors of the Company effective today.

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Positive PFS supports long term gold, silver, zinc Project

2021-06-17T11:36:42+09:30

The Company is pleased to announce the results of a Preliminary Feasibility Study (PFS) that supports the sequential development of its 100% owned Fountain Head gold and Hayes Creek gold-silver-zinc Projects (Project), both of which are located approximately 170km south of Darwin in the Pine Creek region of the Northern Territory. Over the last 12 months the Company has studied a range of options and completed a comprehensive assessment of the technical and economic parameters relating to the sequential development of the Project, that the Company believes holds the best potential to maximise shareholder returns. The proposed development will make

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Environmental Impact Statement lodged for FH Gold Project

2021-06-01T09:16:45+09:30

The Company is pleased to advise that the Environmental Impact Statement (EIS) for the Fountain Head Gold Project (Project) has been lodged with the Northern Territory Environmental Protection Authority. The EIS is an important milestone in the Project approval process and the culmination of a significant detailed body of work by the Company and its Environmental Consultants, ERIAS Group, to identify potential Project environmental impacts and risks and mitigate these through careful and considered management. The EIS contains a comprehensive risk assessment, and studies on groundwater and surface water, biodiversity, Aboriginal and cultural heritage, socioeconomic impacts, transport, air quality, noise,

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New Glencoe MRE expands Fountain Head Development

2021-04-28T14:34:35+09:30

The Company is pleased to announce its first Mineral Resource Estimate for the Glencoe gold deposit (“Glencoe”) (reported in accordance with the JORC Code, 2012) which is located 3 kilometres north of PNX’s 100% owned Fountain Head Gold Project (“Fountain Head”) in the Pine Creek region of the Northern Territory. The Glencoe acquisition represents a ‘bolt on’ asset that will significantly expand the proposed Fountain Head development as gold resources between Fountain Head and Glencoe now total 235,000 oz. Under the Sale and Purchase Agreement (executed 27 April 2021) with private company, Ausgold Trading Pty Ltd, PNX has acquired Glencoe

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PNX Fountain Head Presentation at the AGES Conference

2021-04-20T09:43:41+09:30

PNX advises that the attached presentation will be made at the Annual Geoscience Exploration Seminar (AGES) being held today in Alice Springs and will be presented by the Company’s Resource Geologist, Marco Scardigno. AGES is held every year and is the Northern Territory’s premier exploration focused event. AGES is a technical exploration conference with a range of talks from the Northern Territory Geological Survey, its research partners and the exploration industry.

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First development approval received for Fountain Head Gold

2021-03-24T09:24:53+09:30

PNX Metals Limited is pleased to announce that it has received approval from the Northern Territory Department of Industry, Tourism and Trade (DITT) for a variation to the Company’s Mine Management Plan to allow dewatering of the Fountain Head Pit. This approval is the first stage in the approvals process for the development of the Fountain Head gold Project, where the Company is targeting first production in 2022.

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Key Development Appointment

2021-03-16T09:05:12+09:30

PNX Metals Limited is pleased to announce the engagement of Mr Craig Wilson as the Company’s Mining, Infrastructure and Studies Manager who will take a leading role in transitioning the Fountain Head gold and Hayes Creek zinc-gold-silver Projects into production. Craig brings a wealth of operational, mine planning and management experience to PNX which will be invaluable as the Company continues to develop exploration areas into operational mines. He is a Mining Engineer (B.Eng. Mining) with over 30 years of industry experience and has been engaged by the Company for the past two years as a consultant.

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Fountain Head Gold Project Development

2021-03-04T09:15:38+09:30

The Company is pleased to provide an update on the Fountain Head Gold Project development with a number of important milestones reached. The Company has finalised the Sale and Purchase Agreement (SPA) with private company, Ausgold Trading Pty Ltd (“Ausgold”), to acquire the Glencoe Gold Deposit (Glencoe) for a total consideration of $1.875 million. A $0.5 million payment was made in Dec 20’ (fully refundable under certain conditions), with a further $0.675 million due upon execution of the SPA, and the balance to be paid by 31 December 2021 (refer to Key Terms in ASX announcement 10 December 2020 for

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RCR Research Report

2021-02-18T11:14:01+09:30

PNX Metals Limited - Gold and silver developer preparing for mine approval PNX Metals (ASX: PNX) holds a unique mix of zinc, gold and silver assets 170km south of Darwin in the Northern Territory. Gold resources of 400koz, 16.2Moz of silver and 180kt of zinc, are located on 100% owned Mining Licences. At the Fountain Head Gold Mine, construction of a ±A$40M CIL plant is being evaluated with potential for commencement in 2021. The recent Glencoe acquisition (43koz at 1.9g/t, JORC 2004) shows promise to augment the gold mine and grow resources. We have a Speculative Buy, with a 12-month

Appendix 3G

2021-02-02T14:14:09+09:30

Appendix 3G in relation to the grant of unquoted Performance Rights under the PNX Metals Limited Employee Performance Rights Plan approved by shareholders at the Annual General Meeting held on 23 October 2019.

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Cleansing Notice Under Section 708A(5)(e)

2021-01-29T14:28:11+09:30

This notice is given under section 708A(5)(e) of the Corporations Act 2001 (Cth) and the Company’s confirms that it has issued a total of 202,288,206 ordinary shares on 29 January 2021 to sophisticated and professional investors being a placement of the shortfall shares under the non-renounceable rights issue announced to the ASX on 30 November 2020. The related Appendix 2A was lodged with the ASX on 25 January 2021.

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Refer to PNX’s company page at www.asx.com.au for Announcements prior to 1 July 2014.