CANNINDAH RESOURCES LIMITED — Capital/Financing Update 2021

Aug 5, 2021

ASX RELEASE

6 August 2021

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ASX Code: CAE

DRILLING COMMENCED AT MT CANNINDAH COPPER GOLD PROJECT

Cannindah Resources Limited (ASX: CAE) has commenced the planned 1450m diamond drilling program at the significant Mt Cannindah copper gold project south of Gladstone near Monto in central Queensland

The diamond drilling program is proceeding well, averaging close to 30m per shift. The scheduled program is designed such that it may extend the current JORC resource, as well as test the continuity of higher-grade copper zones within the project area and possibly locate new areas of interest for follow up and potential in-fill drilling.

The first significant hole is on track to be completed next week whereupon the core will be sent for assay as soon as possible.

Examples of core from the current program are outlined in the figures below.

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Figure 1. Hydrothermal breccia showing some chalcopyrite and pyrite as matrix infill.

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Figure 2. Continuation of hydrothermally breccia with chalcopyrite infill between hornfelsed sediment and felsic intrusive clasts.

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Fig 3. Mt Cannindah Drilling

For further information, please contact:

Tom Pickett

Executive Chairman Ph: 61 7 3357 3988