Kin Mining NL reported that assay results from the first deep diamond hole completed at the Mount Flora Project, located 20km east of its 100%-owned 1.28Moz Cardinia Gold Project (CGP) near Leonora in Western Australia, have successfully extended the high-grade mineralisation at depth and revealed a new zone of mineralisation. Diamond hole MF21DD001 was completed in November and targeted the area beneath previously reported high-grade air-core (AC) drilling results. The diamond hole returned two high-grade intercepts beneath the Eastern Zone, which have confirmed the extent of the mineralization to 150m vertical depth.

MF21DD001 returned intercepts of 8.1m at 2.58g/t Au from 54m including 4m at 4.80g/t Au and 5.3m at 6.49g/t Au from 188.3m, from an area located down-dip from air-core holes MF21AC522 (which intersected 22m at 8.96g/t Au from 24m) and MF21AC525 (which intersected 8m at 2.79g/t Au from 28m), together with other significant shallow results. Confirmation of the presence of a high-grade primary gold system beneath the air-core drilling is a significant development, providing further confidence in the potential of the emerging Mt Flora discovery. Importantly, these zones of mineralisation display a distinctive style of alteration, with quartz-carbonate- pyrite-scheelite veining present in a silica ­ biotite altered basalt.

The mineralisation is rich in tungsten (W) with elevated tellurium (Te) and sulphur (S) which are being used to map the alteration system. Overall, the combination of soil geochemistry, AC drill results and now the high-grade primary mineralization returned from the maiden diamond drill hole have confirmed the discovery of a zone of gold mineralization approximately 700m long and up to 150m deep at the Eastern Zone and 400m long at the North-Western Zone. The Mount Flora prospect remains as a priority satellite exploration target for the Company's exploration team, alongside the 1.28Moz CGP.

The Mount Flora prospect was identified by a regional, wide-spaced auger sampling program undertaken in late 2020. The auger program identified a number of gold and pathfinder elements-in-soil anomalies, which were NNE-trending, parallel to the dominant north-east oriented structural trend, represented by the Federation, Sligo Creek and Lady Susan Faults. Kin Mining completed the program of air-core drilling at Mount Flora in two stages comprising an initial program of 269 drill-holes for 10,166m on 11 lines of drilling at 200m line spacings and a follow-up program completed in July 2021 comprised an additional 268 AC holes for 10,763m on 13 lines to: In-fill the Eastern Zone and North-Western Zone mineralisation to 100m line spacing; Test potential extensions of the Eastern Zone to the north and south at 200m line spacing; and Test further east along existing lines where favourable geology and quartz veins were intersected in the end-of-line holes completed in the initial AC drilling program.

Assay results from both programs confirmed that a continuous zone of mineralised lodes spanning at least 700m of strike and up to 150m width is present at the Eastern Zone and several mineralised lodes spanning 400m strike and up to 80m width are present at the North-Western Zone. Multi-element assay results for bottom-of-hole samples used to characterise the mineralisation, alteration and rock types have confirmed that the gold mineralisation is associated with anomalous silver, tellurium and tungsten in sulphide-rich quartz carbonate vein structures within mafic rocks. RC drilling totalling 3,169m in 25 holes was completed in November 2021.

Assay results for all RC drilling are awaited. The RC drilling was focused on the Eastern Zone and completed mostly on 80m spaced and 40m spaced sections spanning approximately 600m of strike length. Initial RC drilling beneath anomalous AC drilling results was also completed at the North-Western Zone.

A single diamond drill hole, MF21DD001, was completed to test potential depth extensions of near-surface mineralisation intersected in AC drilling at the Eastern Zone and to understand the stratigraphy of the rock package. The diamond drill hole intersected two zones of high-grade gold mineralisation at approximately 54m to 62m downhole and 188m to 194m down-hole. In both cases, the mineralisation appears to be associated with fine quartz-carbonate-scheelite veining in a silica and biotite altered basalt rock.

Gold mineralisation is associated with fine pyrite and scheelite (calcium tungstate) with anomalous tellurium.