# PTN: Annual Report to shareholders Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03145667 Publisher: asx Original announcement: 2026-09-29T22:12:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-29T23:48:48.176Z Atlas analysis updated: 2026-09-29T23:48:48.176Z - Company: Patronus Resources Limited - Ticker: PTN - Exchange: ASX - Region: Northern Territory, Western Australia - Primary commodity: Gold - Secondary commodities: Uranium, Zinc, Lead, Copper, Silver - Document categories: Resource update, Drill results, Agreement transaction, Other, Capital raise - Extracted: 2026-09-29 23:48:48 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Patronus Resources Limited's annual report highlights a year of significant exploration success, with multiple high-grade gold intercepts reported across its Northern Territory and Western Australian projects, including bonanza grades at Tally Ho and Guppy. The company also announced ultra high-grade uranium results at Thunderball and entered into strategic transactions, including the divestment of its uranium rights and the acquisition of full ownership in the Guppy-Benalla area. Patronus maintains a strong financial position with $65.1 million in cash and investments to support its ongoing exploration programs. Reasoning: The annual report showcases strong exploration results with numerous high-grade gold and uranium intercepts, alongside strategic corporate actions to streamline the portfolio and maintain a robust financial position, indicating positive progress and future potential. - Positive factor: Multiple high-grade gold intercepts reported across several projects, including bonanza grades at Tally Ho and Guppy, indicating significant exploration success and potential for resource growth. - Positive factor: Ultra high-grade uranium intercept at Thunderball demonstrates exceptional prospectivity, even as the company strategically divests these rights. - Positive factor: Strategic divestment of uranium exploration rights allows the company to focus on core gold and base metals assets while retaining exposure to uranium upside. - Positive factor: Acquisition of 100% ownership in the Guppy-Benalla area consolidates control over a promising gold prospect. - Positive factor: Strong cash and liquid assets position of $65.1 million provides financial flexibility for ongoing exploration and strategic opportunities. - Negative factor: The divestment of uranium rights is subject to various conditions and approvals, introducing some uncertainty. - Negative factor: Resource estimates presented in the report are historical and not new updates, limiting their novelty and immediate impact on valuation. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 44 ## Classification and evidence **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The intercept of 12m @ 12.41g/t Au at Guppy is exceptionally high-grade, well above the deposit-type norm for orogenic gold. Evidence · text > CA25AC100: 12m @ 12.41g/t Au from 20m **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The intercept of 10.76m @ 2.95% U3O8 at Thunderball is exceptionally high-grade, well above the deposit-type norm for uranium. Evidence · text > 10.76m @ 2.95% U3O8 from 87m **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The sub-interval of 3m @ 9.7% U3O8 at Thunderball is exceptionally high-grade, well above the deposit-type norm for uranium. Evidence · text > 3m @ 9.7% U3O8 from 88m **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: All reported drill intercepts are given as downhole widths with no true width or drill orientation information, meaning apparent width may overstate true thickness. Evidence · text > 2.61m @ 6.38g/t Au from 454m **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: The release does not explicitly disclose QA/QC procedures for the new drill results, meaning lab certification, CP/QP sign-off, and assay protocols cannot be checked from this document. Evidence · text > The diamond drilling is focused on advancing brownfields targets with resource growth potential, and RC drilling is targeting the high-priority geochemical anomalies identified during the surface sampling programme outlined above. **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: Drilling at Tally Ho confirmed potential to extend mineralisation at depth below the existing Mineral Resource, and identified new structural targets for follow-up drilling. Evidence · text > Collectively, the programme has demonstrated the potential for additional mineralisation at depth while also identifying new structural targets for follow-up drilling. **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: Drilling at Merlin extended the mineralised corridor a further 1.5km north of existing resources, indicating significant step-out potential. Evidence · text > These results confirm that the mineralised corridor extends a further 1.5km north of the existing Resources at Mertondale 3-4 and Mertondale North. **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: Drilling at Gargamel extended the known strike a further 500m south, demonstrating continuation of mineralisation into a newly identified shallow lode system. Evidence · text > Located immediately south of Merton’s Reward, drilling at the Gargamel Prospect intersected near-surface mineralisation and extended the known strike a further 500m south. **First-Pass Drilling** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: First-pass Reverse Circulation \(RC\) drilling at Golden Dyke returned shallow gold from the Davies No.2 prospect, marking the first modern drilling there in more than 30 years. Evidence · text > First-pass Reverse Circulation \(RC\) drilling at Golden Dyke returned shallow gold from the Davies No.2 prospect – the first modern drilling there in more than 30 years. **First-Pass Drilling** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The Guppy target was initially an early-stage conceptual target with AC and RC drilling representing initial systematic testing. Evidence · text > The Guppy target sits 6km south of the Cardinia East resource area and was initially an early-stage conceptual target based on gold-arsenic auger soils anomalism in an area rich with historical shafts, pits, and more recent prospector ‘scrape and detect’ workings. **Historical Estimate Only** Polarity: negative Story-specific tag Definition: Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling. Why it applies: The resource estimates for Fountain Head, Tally Ho, Glencoe, Iron Blow, Mt Bonnie, and Hayes Creek are explicitly stated as being extracted from prior ASX announcements dating back to 2017-2022. Evidence · text > The information in this table that relates to the Mineral Resources for Fountain Head and Tally Ho have been extracted from the ASX announcement of PNX Metals Limited \(PNX\) on 16 June 2020 titled “Mineral Resource Update at Fountain Head” **JORC Compliant** Polarity: positive Story-specific tag Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: All resource estimates are explicitly stated as being reported in accordance with JORC 2012. Evidence · text > Mineral Resources reported in accordance with JORC 2012 using a 0.4 g/t Au cut-off within AUD2,600 optimisation shells1. **QP/CP Signed** Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The resource estimates are JORC 2012 compliant, which requires sign-off by a Competent Person. Evidence · text > The Company confirms that the form and context in which the Competent Persons findings are presented have not been materially modified from any of the original announcements. **Strategic Divestment** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company entered into a binding term sheet to sell its uranium exploration rights to Greenvale Energy, allowing it to focus on core gold and base metals assets. Evidence · text > During the June 2026 Quarter, Patronus signed a binding term sheet to sell the uranium exploration rights in the Pine Creek region to ASX-listed uranium explorer Greenvale Energy \(ASX:GRV\) **Strategic Divestment** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Patronus divested the non-core Desdemona Project to CGN Resources Limited, consistent with its core focus on the Cardinia Gold Project and Pine Creek Project. Evidence · text > Patronus has divested the non-core Desdemona Project in Western Australia to CGN Resources Limited \(ASX: CGR\). **Strategic Acquisition** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Patronus acquired the remaining 20% interest in the Guppy-Benalla area, securing 100% ownership and removing joint venture constraints for a promising gold prospect. Evidence · text > During the reporting period, Patronus acquired the remaining 20% interest in the Guppy-Benalla area for $250,000 in cash, securing 100% ownership and removing joint venture constraints. ## Extracted facts Stored fact records: 40. Some facts used in scoring do not have a stored record. ## Drill Results (9) ### TH26DD004 [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-drill-facts-0) Fountain Head · gold #### Identity - Hole ID: TH26DD004 - Project: Fountain Head - Commodity: gold - Region: australia\_nt - Reported Region: australia\_nt - Ticker: PTN #### Geometry - Grade: 2.28 - Grade Unit: g/t - Intercept: 1 m - From: 235 m - To: 236 m - Intercept Depth: 235 m #### Classification - Program: exploration - Sample Type: drill - Group ID: TH26DD004:235-236 #### QA/QC - QP Signed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A moderate-grade but narrow gold intercept, contributing to the overall positive exploration results at Tally Ho. - Positive factor: Moderate-grade gold intercept \(2.28 g/t Au\) is strong for an orogenic gold deposit. - Negative factor: Narrow intercept length \(1.0m\) limits overall contained metal. - Negative factor: True width not disclosed, so apparent width may overstate true thickness. - Negative factor: QA/QC procedures not explicitly detailed in this document. Evidence · text > 1.0m @ 2.28g/t Au from 235m \(TH26DD004\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### THRD069 [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-drill-facts-1) Fountain Head · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: THRD069 - Project: Fountain Head - Commodity: gold - Region: australia\_nt - Reported Region: australia\_nt - Ticker: PTN #### Geometry - Grade: 59.88 - Grade Unit: g/t - Intercept: 15.2 m - From: 139 m - To: 154.2 m - Intercept Depth: 139 m #### Classification - Program: exploration - Sample Type: drill - Group ID: THRD069:139-154.2 #### QA/QC - QP Signed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2018-06-14T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: An exceptional historical gold intercept that highlights the high-grade potential of the Tally Ho deposit, though it is not new information. - Positive factor: Bonanza grade gold intercept \(59.88 g/t Au\) over a significant width \(15.2m\) is an exceptional historical result for an orogenic gold deposit. - Negative factor: This is a historical result and not new information from this report. - Negative factor: True width not disclosed, so apparent width may overstate true thickness. - Negative factor: QA/QC procedures not explicitly detailed in this document. Evidence · text > 15.2m @ 59.88g/t from 139m \(THRD069\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### FHRC106 [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-drill-facts-2) Fountain Head · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: FHRC106 - Project: Fountain Head - Commodity: gold - Region: australia\_nt - Reported Region: australia\_nt - Ticker: PTN #### Geometry - Grade: 25.94 - Grade Unit: g/t - Intercept: 3 m - From: 117 m - To: 120 m - Intercept Depth: 117 m #### Classification - Program: exploration - Sample Type: drill - Group ID: FHRC106:117-120 #### QA/QC - QP Signed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2019-11-21T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: An exceptional historical gold intercept that highlights the high-grade potential of the Fountain Head area, though it is not new information. - Positive factor: Bonanza grade gold intercept \(25.94 g/t Au\) is an exceptional historical result for an orogenic gold deposit. - Negative factor: This is a historical result and not new information from this report. - Negative factor: True width not disclosed, so apparent width may overstate true thickness. - Negative factor: QA/QC procedures not explicitly detailed in this document. Evidence · text > 3m @ 25.94g/t from 117m \(FHRC106\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### FHRC156 [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-drill-facts-3) Fountain Head · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: FHRC156 - Project: Fountain Head - Commodity: gold - Region: australia\_nt - Reported Region: australia\_nt - Ticker: PTN #### Geometry - Grade: 9.22 - Grade Unit: g/t - Intercept: 14 m - From: 17 m - To: 31 m - Intercept Depth: 17 m #### Classification - Program: exploration - Sample Type: drill - Group ID: FHRC156:17-31 #### QA/QC - QP Signed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2020-03-16T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A strong historical gold intercept that highlights the high-grade potential of the Fountain Head area, though it is not new information. - Positive factor: High-grade gold intercept \(9.22 g/t Au\) over a significant width \(14m\) is a strong historical result for an orogenic gold deposit. - Negative factor: This is a historical result and not new information from this report. - Negative factor: True width not disclosed, so apparent width may overstate true thickness. - Negative factor: QA/QC procedures not explicitly detailed in this document. Evidence · text > 14m @ 9.22g/t from 17m \(FHRC156\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### TB25DD007 [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-drill-facts-4) Thunderball Uranium · uranium #### Identity - Hole ID: TB25DD007 - Project: Thunderball Uranium - Commodity: uranium - Region: australia\_nt - Reported Region: australia\_nt - Ticker: PTN #### Geometry - Grade: 0.04 - Grade Unit: % - Intercept: 4.2 m - From: 128 m - To: 132.2 m - Intercept Depth: 128 m #### Classification - Program: exploration - Sample Type: drill - Group ID: TB25DD007:128-132.2 #### QA/QC - QP Signed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A weak-grade uranium intercept over a moderate width, providing geological information but with limited economic significance on its own. - Positive factor: Weak-grade uranium intercept \(0.04% U3O8\) over a moderate width \(4.2m\) contributes to understanding the mineralisation footprint. - Negative factor: Grade is at the lower end of economic viability for uranium. - Negative factor: True width not disclosed, so apparent width may overstate true thickness. - Negative factor: QA/QC procedures not explicitly detailed in this document. Evidence · text > 4.2m @ 0.04% \(456ppm\) U3O8 from 128m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### TPCRD093 [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-drill-facts-5) Thunderball Uranium · uranium Historical result Needs review: historical\_restatement #### Identity - Hole ID: TPCRD093 - Project: Thunderball Uranium - Commodity: uranium - Region: australia\_nt - Reported Region: australia\_nt - Ticker: PTN #### Geometry - Grade: 0.7 - Grade Unit: % - Intercept: 13 m - From: 135 m - To: 148 m - Intercept Depth: 135 m #### Classification - Program: exploration - Sample Type: drill - Group ID: TPCRD093:135-148 #### QA/QC - QP Signed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-07-21T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A strong historical uranium intercept that highlights the high-grade potential of the Thunderball deposit, though it is not new information. - Positive factor: Strong grade uranium intercept \(0.70% U3O8\) over a significant width \(13m\) is a strong historical result. - Negative factor: This is a historical result and not new information from this report. - Negative factor: True width not disclosed, so apparent width may overstate true thickness. - Negative factor: QA/QC procedures not explicitly detailed in this document. Evidence · text > TPCRD093:13m @ 0.70% \(7,045ppm\) U3O8 from 135m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### RO25AC098 [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-drill-facts-6) Cardinia East · gold #### Identity - Hole ID: RO25AC098 - Project: Cardinia East - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: PTN #### Geometry - Grade: 1.04 - Grade Unit: g/t - Intercept: 8 m - From: 16 m - To: 24 m - Intercept Depth: 16 m #### Classification - Program: exploration - Sample Type: drill - Group ID: RO25AC098:16-24 #### QA/QC - QP Signed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A moderate-grade gold intercept at shallow depth over a good width, contributing to the positive results at The Royals Prospect. - Positive factor: Moderate-grade gold intercept \(1.04 g/t Au\) over a good width \(8m\) is a good result for an orogenic gold deposit. - Positive factor: Shallow depth \(from 16m\) indicates potential for open-pit mining. - Negative factor: True width not disclosed, so apparent width may overstate true thickness. - Negative factor: QA/QC procedures not explicitly detailed in this document. Evidence · text > RO25AC098: 8m @ 1.04g/t Au from 16m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### X424AC016 [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-drill-facts-7) Cardinia East · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: X424AC016 - Project: Cardinia East - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: PTN #### Geometry - Grade: 1.69 - Grade Unit: g/t - Intercept: 4 m - From: 44 m - To: 48 m - Intercept Depth: 44 m #### Classification - Program: exploration - Sample Type: drill - Group ID: X424AC016:44-48 #### QA/QC - QP Signed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-04-28T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A good historical gold intercept at shallow depth, highlighting the potential of the X4 Prospect, though it is not new information. - Positive factor: Moderate-grade gold intercept \(1.69 g/t Au\) over a good width \(4m\) is a good historical result for an orogenic gold deposit. - Positive factor: Shallow depth \(from 44m\) indicates potential for open-pit mining. - Negative factor: This is a historical result and not new information from this report. - Negative factor: True width not disclosed, so apparent width may overstate true thickness. - Negative factor: QA/QC procedures not explicitly detailed in this document. Evidence · text > X424AC016: 4m @ 1.69g/t Au, from 44m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### MT25RC015 [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-drill-facts-8) Mertondale North · gold #### Identity - Hole ID: MT25RC015 - Project: Mertondale North - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: PTN #### Geometry - Grade: 1.43 - Grade Unit: g/t - Intercept: 4 m - From: 37 m - To: 41 m - Intercept Depth: 37 m #### Classification - Program: exploration - Sample Type: drill - Group ID: MT25RC015:37-41 #### QA/QC - QP Signed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A moderate-grade gold intercept at shallow depth over a good width, contributing to the positive results at Gargamel. - Positive factor: Moderate-grade gold intercept \(1.43 g/t Au\) over a good width \(4m\) is a good result for an orogenic gold deposit. - Positive factor: Shallow depth \(from 37m\) indicates potential for open-pit mining. - Negative factor: True width not disclosed, so apparent width may overstate true thickness. - Negative factor: QA/QC procedures not explicitly detailed in this document. Evidence · text > MT25RC015: 4m @ 1.43g/t Au from 37m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## Resource Estimates (31) ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-9) Fountain Head Gold Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Fountain Head Gold Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:bf6e4c3a4b9d37de2463 #### Resource Data - Category: inferred - Grade: 1.4 - Grade Unit: g/t - Contained Metal: 234000 - Contained Unit: oz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2020-03-16 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2020-03-16T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant gold resource of moderate size, providing a baseline for the project but lacking novelty as it is not a new update. - Positive factor: A combined resource of 234,000oz gold at 1.4 g/t Au is a moderate-sized resource for an orogenic gold deposit. - Positive factor: Reported under JORC standards, indicating a degree of reliability. - Negative factor: This is a historical resource estimate, not a new update, limiting its novelty. - Negative factor: The resource is likely predominantly Inferred, given the context of exploration, which carries lower confidence. - Negative factor: The effective date is several years old, raising concerns about data currency. Evidence · text > Fountain Head area comprises the Fountain Head, Tally Ho and Glencoe Deposits and hosts a combined Mineral Resource of 234,000oz at 1.4 g/t. #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 6.5 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-10) Hayes Creek VMS Project · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: zinc - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:cdb6821af3f9760a1dc3 - Deposit or zone: Iron Blow #### Resource Data - Category: indicated - Tonnes: 2080000 - Grade: 5.49 - Grade Unit: % - Contained Metal: 119 - Contained Unit: kt - Cutoff Grade: 1 - Cutoff Unit: g/t AuEq #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 13.39 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Indicated resource with strong zinc grades, providing a baseline for the project but lacking novelty due to its age. - Positive factor: Indicated category provides reasonable geological confidence. - Positive factor: Strong zinc grade \(5.49%\) for a VMS deposit. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 5.49 Context: 2.08 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-11) Hayes Creek VMS Project · lead Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: lead - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:cdb6821af3f9760a1dc3 - Deposit or zone: Iron Blow #### Resource Data - Category: indicated - Tonnes: 2080000 - Grade: 0.91 - Grade Unit: % - Contained Metal: 18 - Contained Unit: kt - Cutoff Grade: 1 - Cutoff Unit: g/t AuEq #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 13.39 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Indicated resource with lead as a byproduct, providing context but lacking novelty due to its age. - Positive factor: Indicated category provides reasonable geological confidence. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 0.91 Context: 2.08 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-12) Hayes Creek VMS Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:cdb6821af3f9760a1dc3 - Deposit or zone: Iron Blow #### Resource Data - Category: indicated - Tonnes: 2080000 - Grade: 0.3 - Grade Unit: % - Contained Metal: 7 - Contained Unit: kt - Cutoff Grade: 1 - Cutoff Unit: g/t AuEq #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 13.39 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Indicated resource with copper as a byproduct, providing context but lacking novelty due to its age. - Positive factor: Indicated category provides reasonable geological confidence. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 0.30 Context: 2.08 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-13) Hayes Creek VMS Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:cdb6821af3f9760a1dc3 - Deposit or zone: Iron Blow #### Resource Data - Category: indicated - Tonnes: 2080000 - Grade: 143 - Grade Unit: g/t - Contained Metal: 9.9 - Contained Unit: moz - Cutoff Grade: 1 - Cutoff Unit: g/t AuEq #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 13.39 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Indicated resource with strong silver grades, providing context but lacking novelty due to its age. - Positive factor: Indicated category provides reasonable geological confidence. - Positive factor: Strong silver grade \(143 g/t\) for a VMS deposit. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 143 Context: 2.08 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-14) Hayes Creek VMS Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:cdb6821af3f9760a1dc3 - Deposit or zone: Iron Blow #### Resource Data - Category: indicated - Tonnes: 2080000 - Grade: 2.19 - Grade Unit: g/t - Contained Metal: 171 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: g/t AuEq #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 13.39 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Indicated resource with strong gold grades, providing context but lacking novelty due to its age. - Positive factor: Indicated category provides reasonable geological confidence. - Positive factor: Strong gold grade \(2.19 g/t\) for a VMS deposit. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 2.19 Context: 2.08 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-15) Hayes Creek VMS Project · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: zinc - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:ad507ab25448d0529bd1 - Deposit or zone: Iron Blow #### Resource Data - Category: inferred - Tonnes: 450000 - Grade: 1.11 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: g/t AuEq #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 4.38 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Inferred resource with lower zinc grades, providing context but with limited confidence and novelty due to its age and category. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: Inferred category carries lower geological confidence. - Negative factor: Lower zinc grade \(1.11%\) compared to the Indicated category. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 1.11 Context: 0.45 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-16) Hayes Creek VMS Project · lead Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: lead - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:ad507ab25448d0529bd1 - Deposit or zone: Iron Blow #### Resource Data - Category: inferred - Tonnes: 450000 - Grade: 0.18 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: g/t AuEq #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 4.38 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Inferred resource with lead as a byproduct, providing context but with limited confidence and novelty due to its age and category. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: Inferred category carries lower geological confidence. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 0.18 Context: 0.45 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-17) Hayes Creek VMS Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:ad507ab25448d0529bd1 - Deposit or zone: Iron Blow #### Resource Data - Category: inferred - Tonnes: 450000 - Grade: 0.07 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: g/t AuEq #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 4.38 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Inferred resource with copper as a byproduct, providing context but with limited confidence and novelty due to its age and category. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: Inferred category carries lower geological confidence. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 0.07 Context: 0.45 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-18) Hayes Creek VMS Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:ad507ab25448d0529bd1 - Deposit or zone: Iron Blow #### Resource Data - Category: inferred - Tonnes: 450000 - Grade: 27 - Grade Unit: g/t - Cutoff Grade: 1 - Cutoff Unit: g/t AuEq #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 4.38 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Inferred resource with lower silver grades, providing context but with limited confidence and novelty due to its age and category. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: Inferred category carries lower geological confidence. - Negative factor: Lower silver grade \(27 g/t\) compared to the Indicated category. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 27 Context: 0.45 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-19) Hayes Creek VMS Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:ad507ab25448d0529bd1 - Deposit or zone: Iron Blow #### Resource Data - Category: inferred - Tonnes: 450000 - Grade: 1.71 - Grade Unit: g/t - Cutoff Grade: 1 - Cutoff Unit: g/t AuEq #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 4.38 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Inferred resource with gold as a byproduct, providing context but with limited confidence and novelty due to its age and category. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: Inferred category carries lower geological confidence. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 1.71 Context: 0.45 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-20) Hayes Creek VMS Project · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: zinc - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:5f4746755c22a2f15d93 - Deposit or zone: Mt Bonnie #### Resource Data - Category: indicated - Tonnes: 1380000 - Grade: 3.96 - Grade Unit: % - Contained Metal: 58 - Contained Unit: kt - Cutoff Grade: 1 - Cutoff Unit: % Zn #### Prior Estimate - Resource Date: 2017-02-08 #### Metal Equivalent - Metal Eq. Grade: 9.87 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-02-08T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Indicated resource with strong zinc grades, providing a baseline for the project but lacking novelty due to its age. - Positive factor: Indicated category provides reasonable geological confidence. - Positive factor: Strong zinc grade \(3.96%\) for a VMS deposit. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 3.96 Context: 1.38 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.6 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-21) Hayes Creek VMS Project · lead Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: lead - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:5f4746755c22a2f15d93 - Deposit or zone: Mt Bonnie #### Resource Data - Category: indicated - Tonnes: 1380000 - Grade: 1.15 - Grade Unit: % - Contained Metal: 17 - Contained Unit: kt - Cutoff Grade: 1 - Cutoff Unit: % Zn #### Prior Estimate - Resource Date: 2017-02-08 #### Metal Equivalent - Metal Eq. Grade: 9.87 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-02-08T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Indicated resource with lead as a byproduct, providing context but lacking novelty due to its age. - Positive factor: Indicated category provides reasonable geological confidence. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 1.15 Context: 1.38 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.6 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-22) Hayes Creek VMS Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:5f4746755c22a2f15d93 - Deposit or zone: Mt Bonnie #### Resource Data - Category: indicated - Tonnes: 1380000 - Grade: 0.23 - Grade Unit: % - Contained Metal: 3 - Contained Unit: kt - Cutoff Grade: 1 - Cutoff Unit: % Zn #### Prior Estimate - Resource Date: 2017-02-08 #### Metal Equivalent - Metal Eq. Grade: 9.87 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-02-08T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Indicated resource with copper as a byproduct, providing context but lacking novelty due to its age. - Positive factor: Indicated category provides reasonable geological confidence. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 0.23 Context: 1.38 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.6 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-23) Hayes Creek VMS Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:5f4746755c22a2f15d93 - Deposit or zone: Mt Bonnie #### Resource Data - Category: indicated - Tonnes: 1380000 - Grade: 128 - Grade Unit: g/t - Contained Metal: 6.3 - Contained Unit: moz - Cutoff Grade: 1 - Cutoff Unit: % Zn #### Prior Estimate - Resource Date: 2017-02-08 #### Metal Equivalent - Metal Eq. Grade: 9.87 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-02-08T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Indicated resource with strong silver grades, providing context but lacking novelty due to its age. - Positive factor: Indicated category provides reasonable geological confidence. - Positive factor: Strong silver grade \(128 g/t\) for a VMS deposit. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 128 Context: 1.38 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.6 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-24) Hayes Creek VMS Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:5f4746755c22a2f15d93 - Deposit or zone: Mt Bonnie #### Resource Data - Category: indicated - Tonnes: 1380000 - Grade: 1.41 - Grade Unit: g/t - Contained Metal: 69 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % Zn #### Prior Estimate - Resource Date: 2017-02-08 #### Metal Equivalent - Metal Eq. Grade: 9.87 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-02-08T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Indicated resource with moderate gold grades, providing context but lacking novelty due to its age. - Positive factor: Indicated category provides reasonable geological confidence. - Positive factor: Moderate gold grade \(1.41 g/t\) for a VMS deposit. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 1.41 Context: 1.38 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.6 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-25) Hayes Creek VMS Project · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: zinc - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:9b5250c5e6d53f9fd7d9 - Deposit or zone: Mt Bonnie #### Resource Data - Category: inferred - Tonnes: 170000 - Grade: 2.11 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % Zn #### Prior Estimate - Resource Date: 2017-02-08 #### Metal Equivalent - Metal Eq. Grade: 6.73 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-02-08T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Inferred resource with lower zinc grades, providing context but with limited confidence and novelty due to its age and category. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: Inferred category carries lower geological confidence. - Negative factor: Lower zinc grade \(2.11%\) compared to the Indicated category. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 2.11 Context: 0.17 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.6 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-26) Hayes Creek VMS Project · lead Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: lead - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:9b5250c5e6d53f9fd7d9 - Deposit or zone: Mt Bonnie #### Resource Data - Category: inferred - Tonnes: 170000 - Grade: 0.87 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % Zn #### Prior Estimate - Resource Date: 2017-02-08 #### Metal Equivalent - Metal Eq. Grade: 6.73 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-02-08T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Inferred resource with lead as a byproduct, providing context but with limited confidence and novelty due to its age and category. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: Inferred category carries lower geological confidence. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 0.87 Context: 0.17 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.6 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-27) Hayes Creek VMS Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:9b5250c5e6d53f9fd7d9 - Deposit or zone: Mt Bonnie #### Resource Data - Category: inferred - Tonnes: 170000 - Grade: 0.16 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % Zn #### Prior Estimate - Resource Date: 2017-02-08 #### Metal Equivalent - Metal Eq. Grade: 6.73 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-02-08T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Inferred resource with copper as a byproduct, providing context but with limited confidence and novelty due to its age and category. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: Inferred category carries lower geological confidence. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 0.16 Context: 0.17 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.6 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-28) Hayes Creek VMS Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:9b5250c5e6d53f9fd7d9 - Deposit or zone: Mt Bonnie #### Resource Data - Category: inferred - Tonnes: 170000 - Grade: 118 - Grade Unit: g/t - Cutoff Grade: 1 - Cutoff Unit: % Zn #### Prior Estimate - Resource Date: 2017-02-08 #### Metal Equivalent - Metal Eq. Grade: 6.73 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-02-08T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Inferred resource with silver as a byproduct, providing context but with limited confidence and novelty due to its age and category. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: Inferred category carries lower geological confidence. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 118 Context: 0.17 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.6 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-29) Hayes Creek VMS Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:9b5250c5e6d53f9fd7d9 - Deposit or zone: Mt Bonnie #### Resource Data - Category: inferred - Tonnes: 170000 - Grade: 0.8 - Grade Unit: g/t - Cutoff Grade: 1 - Cutoff Unit: % Zn #### Prior Estimate - Resource Date: 2017-02-08 #### Metal Equivalent - Metal Eq. Grade: 6.73 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-02-08T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Inferred resource with gold as a byproduct, providing context but with limited confidence and novelty due to its age and category. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: Inferred category carries lower geological confidence. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 0.80 Context: 0.17 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.6 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-30) Hayes Creek VMS Project · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: zinc - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:268a9ce4950c4c824858 - Deposit or zone: Iron Blow + Mt Bonnie #### Resource Data - Category: indicated - Tonnes: 3460000 - Grade: 4.88 - Grade Unit: % - Contained Metal: 177 - Contained Unit: kt #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 11.99 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Indicated resource with strong zinc grades, providing a baseline for the project but lacking novelty due to its age. - Positive factor: Indicated category provides reasonable geological confidence. - Positive factor: Strong zinc grade \(4.88%\) for a VMS deposit. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 4.88 Context: 3.46 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-31) Hayes Creek VMS Project · lead Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: lead - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:268a9ce4950c4c824858 - Deposit or zone: Iron Blow + Mt Bonnie #### Resource Data - Category: indicated - Tonnes: 3460000 - Grade: 1.01 - Grade Unit: % - Contained Metal: 37 - Contained Unit: kt #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 11.99 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Indicated resource with lead as a byproduct, providing context but lacking novelty due to its age. - Positive factor: Indicated category provides reasonable geological confidence. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 1.01 Context: 3.46 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-32) Hayes Creek VMS Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:268a9ce4950c4c824858 - Deposit or zone: Iron Blow + Mt Bonnie #### Resource Data - Category: indicated - Tonnes: 3460000 - Grade: 0.27 - Grade Unit: % - Contained Metal: 10 - Contained Unit: kt #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 11.99 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Indicated resource with copper as a byproduct, providing context but lacking novelty due to its age. - Positive factor: Indicated category provides reasonable geological confidence. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 0.27 Context: 3.46 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-33) Hayes Creek VMS Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:268a9ce4950c4c824858 - Deposit or zone: Iron Blow + Mt Bonnie #### Resource Data - Category: indicated - Tonnes: 3460000 - Grade: 137 - Grade Unit: g/t - Contained Metal: 16 - Contained Unit: moz #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 11.99 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Indicated resource with strong silver grades, providing context but lacking novelty due to its age. - Positive factor: Indicated category provides reasonable geological confidence. - Positive factor: Strong silver grade \(137 g/t\) for a VMS deposit. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 137.00 Context: 3.46 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-34) Hayes Creek VMS Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:268a9ce4950c4c824858 - Deposit or zone: Iron Blow + Mt Bonnie #### Resource Data - Category: indicated - Tonnes: 3460000 - Grade: 1.88 - Grade Unit: g/t - Contained Metal: 238 - Contained Unit: koz #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 11.99 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Indicated resource with strong gold grades, providing context but lacking novelty due to its age. - Positive factor: Indicated category provides reasonable geological confidence. - Positive factor: Strong gold grade \(1.88 g/t\) for a VMS deposit. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 1.88 Context: 3.46 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-35) Hayes Creek VMS Project · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: zinc - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:628ce9344e682d275d85 - Deposit or zone: Iron Blow + Mt Bonnie #### Resource Data - Category: inferred - Tonnes: 620000 - Grade: 1.39 - Grade Unit: % #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 5.03 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Inferred resource with lower zinc grades, providing context but with limited confidence and novelty due to its age and category. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: Inferred category carries lower geological confidence. - Negative factor: Lower zinc grade \(1.39%\) compared to the Indicated category. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 1.39 Context: 0.62 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-36) Hayes Creek VMS Project · lead Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: lead - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:628ce9344e682d275d85 - Deposit or zone: Iron Blow + Mt Bonnie #### Resource Data - Category: inferred - Tonnes: 620000 - Grade: 0.37 - Grade Unit: % #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 5.03 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Inferred resource with lead as a byproduct, providing context but with limited confidence and novelty due to its age and category. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: Inferred category carries lower geological confidence. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 0.37 Context: 0.62 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-37) Hayes Creek VMS Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:628ce9344e682d275d85 - Deposit or zone: Iron Blow + Mt Bonnie #### Resource Data - Category: inferred - Tonnes: 620000 - Grade: 0.1 - Grade Unit: % #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 5.03 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Inferred resource with copper as a byproduct, providing context but with limited confidence and novelty due to its age and category. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: Inferred category carries lower geological confidence. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 0.10 Context: 0.62 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-38) Hayes Creek VMS Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:628ce9344e682d275d85 - Deposit or zone: Iron Blow + Mt Bonnie #### Resource Data - Category: inferred - Tonnes: 620000 - Grade: 52 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 5.03 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Inferred resource with lower silver grades, providing context but with limited confidence and novelty due to its age and category. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: Inferred category carries lower geological confidence. - Negative factor: Lower silver grade \(52 g/t\) compared to the Indicated category. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 52.00 Context: 0.62 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ptn-annual-report-to-shareholders--092faf1a-f931-4467-bdeb-d9b544793715#fact-resource-facts-39) Hayes Creek VMS Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Hayes Creek VMS Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: PTN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:628ce9344e682d275d85 - Deposit or zone: Iron Blow + Mt Bonnie #### Resource Data - Category: inferred - Tonnes: 620000 - Grade: 1.46 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2017-05-03 #### Metal Equivalent - Metal Eq. Grade: 5.03 - Metal Eq. Unit: % ZnEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-05-03T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A historical JORC-compliant Inferred resource with gold as a byproduct, providing context but with limited confidence and novelty due to its age and category. - Positive factor: Reported under JORC standards, indicating reliability. - Positive factor: Metal equivalent assumptions are disclosed. - Negative factor: This is a historical resource estimate from 2017, limiting its novelty. - Negative factor: Inferred category carries lower geological confidence. - Negative factor: The effective date is significantly old, raising concerns about data currency. Evidence · table > 1.46 Context: 0.62 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 9.4 years before this release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.