Congratulations to PNX Metals on its positive results

MT BONNIE RESOURCE ESTIMATE BOOSTS HAYES CREEK PROJECT, NT

• Mt Bonnie Mineral Resource estimate (reported in accordance with JORC Code, 2012) completed for:
  • 1.3 million tonnes @ 4.2% Zn, 1.3 g/t Au, 133 g/t Ag, 1.3% Pb, and 0.3% Cu
• 35% of the resource in the higher confidence Indication category
• The Mineral Resource occurs from approximately 25 m to 150 m depth and is amenable to open pit mining methods
• Global Mineral Resource for the Hayes Creek project now contains approximately 178,000 tonnes of zinc, 257,000 ounces
• Result is a major boost for the Hayes Creek Scoping study which is on target to be completed by March 2016

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SOURCE: PNX METALS
DATE: 1 FEBRUARY, 2016