• Kingsgate and Thailand mutually agree to terminate TAFTA arbitration proceedings
• Agreement reflects a refreshed relationship between the parties
• Continuance of successful gold and silver mining operations at Chatree Mine expected to deliver significant benefits

Kingsgate Consolidated Ltd (ASX:KCN) has announced that following discussions with the Thai Government, the company and the Kingdom of Thailand have mutually agreed to terminate arbitration proceedings commenced in November 2017 under the Thailand-Australia Free Trade Agreement (TAFTA) without issuance of an award. The Tribunal has acknowledged the parties' agreement and will issue a termination order in due course. This amicable agreement between Kingsgate and Thailand reflects a refreshed relationship between the parties. Importantly, this relationship is expected to deliver significant benefits to the people of Thailand, Kingsgate, its shareholders and all others who stand to benefit from the continuance of successful gold and silver mining operations at the Chatree Mine. Kingsgate looks forward to working with the Thai government in a constructive, collaborative and good-faith manner to achieve long-term prosperity for all stakeholders in the Chatree Gold Mine. The Board considers this agreement represents the most appropriate path to generate long-term value for Kingsgate's shareholders and other stakeholders, including the Kingdom of Thailand, the local communities surrounding Chatree and Kingsgate's staff and contractors at Chatree.

Kingsgate and the Thai Government have agreed to work together in a constructive, collaborative and good-faith manner to achieve long-term prosperity for all stakeholders in the Chatree Gold Mine.