Nueva Esperanza Exploration Update – 8 January 2018

Step-out Drilling Expands New Silver Rich Zone at Nueva Esperanza, Chile

Kingsgate Consolidated (ASX:KCN) (“Kingsgate” or the “Company”) is pleased to report the results of seven step-out drill holes from the silver rich Cerro Blanco West Zone (“CBW”) at its 100% owned Nueva Esperanza precious metals project in Chile.

Nueva Esperanza is a feasibility-stage development project with a resource base of approximately 1.9 million ounces gold equivalent1.

Nine Reverse Circulation (“RC”) follow-up drill holes totalling 1,136 metres were completed on the Cerro Blanco West target in late 2017 (See Figure 1) following up on eight initial exploration holes previously reported (See Kingsgate ASX Release titled “New Silver Discovery at Nueva Esperanza, Chile” dated 17 July 2017).

The best holes were:

• KRCO66, intercepted 18 metres at 207.54g/t Ag;
• KRCO58, intercepted 42 metres at 41.58g/t Ag;
• KRCO59, intercepted 30 metres at 32.26g/t Ag;
• KRC063, intercepted 12 metres at 44.35g/t Ag; and
• KRCO65, intercepted 22 metres at 46.01g/t Ag.

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