Abandoned Todd gold mine

HIGH GRADE GOLD AT FORRESTANIA

Classic Minerals Ltd (“Classic” or the “Company“) has completed the Phase 2 reverse circulation (“RC”) drilling program at the Gap Zone – a priority target situated between the Lady Magdalene and Lady Ada deposits within the Forrestania Gold Project in Western Australia.

In addition, on-ground geological work has included mapping and prospecting, particularly around the Lady Ada deposit, which has yielded high grade gold samples ( in the form of visible gold in quartz samples).

After extensive geological review and interpretation (including use of data generated from the Company’s Phase 1 drill campaign), Classic believes there is significant potential to uncover a repetition of the Lady Ada/Lady Magdalene ore bodies between the existing deposits. Furthermore, Classic has identified analogous characteristics between Lady Ada and Lady Magdalene (ore body starting off with a flat structure and then deepening on an SE trend whilst increasing in grade).

This area between the Lady Ada/Lady Magdalene ore bodies has previously only been subjected to very shallow drilling, with some near surface hits indicative of the flat lying feature shared by both Lady Ada and Lady Magdalene respectively. The potential identification of an additional ore body linking both the Lady Ada and Lady Magdalene deposits would result in is a significant increase to the existing Mineral Resource base – unlocking a gold system that is approximately 1.7km in length (or longer if mineralisation continues to extend to the south of Lady Ada).

There are additional holes planned to be drilled at Lady Magdalene over the coming weeks. The program, which is expected in Q2 2018, has been designed to further test high-grade extensions of both the Lady Magdalene and Lady Ada deposits identified during the recently completed Phase 1 drilling program.

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