• Patronus to buyback 158,125,983 shares from St Barbara
• Buyback as consideration for sale of significant interest in Geopacific Resources
• Buyback will provide a significant concentration of the Patronus share register

Patronus Resources Limited (ASX: PTN; 'Patronus' or 'the Company') is pleased to advise that it has agreed to a selective buyback with St Barbara Limited (ASX: SBM; 'St Barbara') of all of its 158,125,983 shares in Patronus (subject to shareholder approval). This buyback will provide a significant (9.66%) concentration of the Patronus share register providing an equal benefit to all Patronus shareholders. St Barbara's stated strategy has been active management of their investment portfolio while being patient and looking for opportunities to add value. St Barbara saw limited opportunities to add value to Patronus, but plenty of opportunity to improve the value of a shareholding in Geopacific given its intimate knowledge of the Simberi geology which is similar to the geological setting at the Woodlark Project. This transaction secures St Barbara's exit and removes this substantial overhang from the Patronus register. Patronus will transfer 458,565,351 shares in GPR to St Barbara in exchange for the return of 158,125,983 shares in PTN. Patronus Shareholder Meeting Patronus shareholders are required to approve the transaction and a general meeting for that purpose will be called soon. The General Meeting will include a Special Resolution for shareholders to approve the Selective Buy-back.