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1 Click to edit Master title style Conference, Hong Kong March 2017 ASX:PNR

2 Rapidly Click to Growing edit Master Gold Production title style Pantoro is a gold production company which owns 100% of the Nicolsons Gold Project in Western Australia. New producer consistently achieving targets within specified timelines. Region is exceptionally under-explored. Pantoro exploration effort is yielding excellent results. Immediate growth opportunities with low capex requirement. Management Paul Cmrlec Managing Director Scott Huffadine Operations Director David Okeby Company Secretary Scott Balloch - CFO Board Paul Cmrlec Managing Director Scott Huffadine Operations Director Michael Jefferies Non-Executive Chairman Kyle Edwards Non-Executive Director 2

3 Click Corporate to edit Overview Master of title Pantoro style Share Price Capital Structure Share Price (23/3/17) 19.5 cps Cents Per Share Mar 16 Apr 16 May 16 Jun 16 Volume Jul 16 Aug 16 Sep 16 Share Price Oct 16 Nov 16 Dec 16 Jan 17 Feb Volume (Millions) Ordinary Shares Listed Options Employee and unlisted options and rights Fully Diluted Market Capitalisation Cash and gold (31/12/16) Debt (28 /2/17) million 32 million 32 million 809 million A$171 million $11.7 million 6980 oz Au Top % Top Holders Bell Potter Nominees Ltd 18.5% ASX:PNR Citicorp Nominees Pty Ltd 14.3% HSBC Custody Nominees (Aust) Ltd 10.2% JP Morgan Nominees Aust Ltd 3.9% 3

4 Click to edit Master title style Nicolsons Gold Mine 4

5 Halls Click Creek to Project edit Master 100% title Pantoro style 100% owner of the Halls Creek Project, which includes the Nicolsons Gold Mine. Current run rate ramping up to + 50,000 Oz per annum. Immediate options to expand to 80,000 to 100,000 Oz per annum. High grade ore currently being mined from one underground and two open pits. Only gold processing plant within 300km. Only small companies exploring in region huge exploration upside and only production option. Very well serviced only 8km off of Great Northern Highway fully sealed road between Perth and Darwin. Only 45km from town of Halls Creek. 5

6 Click to edit Master Pantoro title tenure style Contiguous land package Processing plant central to current tenure. Current mines all within 2 km of processing plant Full pipe line of exploration projects in surrounding tenure Full card of drill targets for foreseeable future Nicolsons plant and underground mine Wagtail North & Rowdies Pits Wagtail South Pit Company considers additional tenure on a merit based assessment. Drill Targets 6

7 Nicolsons - High grade Click and to edit Open Master in All Directions title style Johnston (south) Hall/Anderson (north) 13.6g/t (RC) 4.3g/t (RC) 3.3g/t (RC) 5.8g/t (RC) 22g/t (diamond) 6.7g/t (RC) 7.4g/t (RC) Figure shows current Reserve and Resource 700m along strike with continuous high grade. Resource and Reserve upgrade due end May 17 and covered in subsequent slides Johnston lode is 40m offset to the West (in foot wall) of Hall/Anderson Red lines represent same Northing on each Ongoing drilling returning high grades at depth High grade ore continuing to be encountered well outside of modelled Ore Reserve and Mineral Resource 7

8 Nicolsons Underground - New Resource and Reserve Click to edit Master title style Estimate due in May 2017 First level development Johnston South Decline Advancing with current resource in green Ore Development Ongoing Open to the North with high grade results continuing Ore Development Ongoing Mother Hall Open at depth with high grade results continuing at current drilled depth 8

9 Nicolsons Underground - New Resource and Reserve Click to edit Master title style Estimate due in May 2017 Undrilled to the South Mother Open at depth No drilling below resource Ore Development Ongoing Open to the North no drilling North Open at depth no drilling below 9

10 Development in place Click to double to edit output Master when title desired style Johnston First level development Johnston Anderson/ Hall Capital Development in place to mine Johnston Ore Development Ongoing Ore Development Ongoing Mother All production to date from Hall/Anderson Only Drilling shows Johnston has grade intercepts as good or better than current mined lodes. Production continuing to accelerate with a large developed stocks inventory. Advancing development in Southern (Johnston) lodes ore to be accessed in current quarter. Hall Continuing to mine outside of current Ore Reserve blocks. 10

11 Typical Level Development Click to edit Very Master High Grade title Veins style 400m Strike Length (Excludes Johnston ) Anderson Darcy Very high grades often exceeding 100 g/t Hall 11

12 Rowdies and Wagtail: Click to A edit Repeat Master of Nicolsons? title style Only 1.5 km south of Nicolsons Reserve 5.55g/t. Additional mineralisation identified by drilling currently being mined. Many very high grade drill results including: g/t Au including g/t Au g/t Au g/t Au g/t Au, including g/t Au g/t Au. Drilling under pit provides strong potential for next underground development. Further drilling is continuing. Mining completed late Ore blending with underground ore for next two years. *Announced to ASX on 29/8/2016 and 22/9/

13 Wagtail pits delivering very high Click to edit Master title style grade zones beyond expectation Zones of Very high grade ore similar to bonanza zones in Nicolsons being encountered. Grade control drilling shows high grade continuing at depth in pits Ore blocks found to be consistent along strike as modelled. Wagtail North 382.5m RL HG Ore Zone Drilling under Wagtail and Rowdies pits underway. Aiming to identify next underground mine. *Grades shown are grade control results collected by ripping trenches by bull dozer and sampling across the trench and completing Bulk Leach Extractable Gold (BLEG) assays in site laboratory 13

14 Rowdies Click to and edit Wagtail Master long title Section style 100 m Depth Limit of Open Pits Area between resources completely undrilled Area between resources completely undrilled 200 m Resource extends well below limit of open pits and completely open at depth. Strong results beneath open pits Additional diamond drilling in full swing targeting additional underground development late

15 Wagtail Sections Recent drilling demonstrates continued Click high grade to edit well Master below title open style pits First drilling program at depth below pits has demonstrated continuing high grade mineralisation. New hits approximately at current depth of Nicolsons mine with only 7 new holes drilled to date. Intention to continue drilling throughout 2017 with a view to commencing additional underground mine(s) once pits are completed at end of year. 15

16 Click to edit Master title style Exploration Focus 16

17 Archer Fault Controlling Click Mineralisation to edit Master along title strike style Archer Fault Anderson UNTESTED Northern Repeats? Known s controlled by Archer Fault. s stack up along fault. Hall Rowdies Pit UNTESTED Hall Repeat? Pantoro holds 15km of strike along fault with a number of additional undrilled veins noted. Johnston UNTESTED Hall Repeat? Wagtail Pits UNTESTED Southern Repeats? Magnetic survey suggests that a number of similar fault/ore systems may exist in area of tenements. Isometric Original Reserve Nicolsons Plan 2160mRL Regional Plan View 17

18 Repeats at depth along fault Click demonstrated to edit Master underground title style Hall Hall Section shows known association between Hall and Johnstone in existing Mineral Resources New drilling further north (19530) suggests Johnston continues to the North at depth. Johnston Depth Repeat North North 18

19 Full development pipeline with Click to edit Master title style numerous drill targets being advanced Springvale Fault - 1.5km Outcrop up to 10m Wide, historical high grade surface rock chip samples and drilling with no systematic exploration in last 12 years Archer Fault Projection Nicolsons North 13.6g/t from 55m, further drilling planned Hyena Rock-Chip Samples 22 and 32 g/t. Not drilled. Nicolsons plant and underground mine No/minimal tested along strike of Archer Fault, and even less work completed away from most advanced line of lode (Nicolsons/Wagtail) Wagtail North & Rowdies Pits Shiftys 700m long quartz veins Drilling underway Wagtail South Pit Only plant within 300km; New tenements in process of being granted including areas with historical high grade drilling; Entire area now covered by close spaced aero-magnetics very effective for identifying structures Drill Targets 19

20 First drilling at depth yields very high grade results including: 6.23 g/t from 55m including 12.67g/t from 58m g/t from 72.6 m including 40.5 g/t 7.77 g/t from 70m Approximately 1km from existing Mineral Resource line of lode. Mineralisation noted over strike length of approximately 200m in historical near surface drilling and completely open in both directions. Now testing at depth. Follow-up drilling program underway. Paddock Well The Newest High Click to edit Master title style Grade Discovery off of main mine trend 20