CASSIUS MINING LIMITED — Board/Management Information 2011

Jan 9, 2011

7 January 2011

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ASX ANNOUNCEMENT

Appointment of Two New Directors

Gulf Industrials (‘Gulf’ or ‘the Company’), the East African focused industrial mineral producer and developer is pleased to announce the appointments of Mr Vic Fitzmaurice the Chief Executive Officer as an Executive Director and of Mr Mike Brook as Non‐Executive Director. The appointments are effective from 7 January 2011.

Mr Fitzmaurice has over 20 years’ experience working as a mining engineer in Australia and Africa with commodities including gold, diamonds, platinum, chrome, base metals and other bulk mineral operations both underground and surface. Prior experience includes working with major mining companies such as BHP Billiton (Glencore), De Beers and Aquarius Platinum in addition to a number of junior companies.

Mr Fitzmaurice is well versed in the full spectrum of project development from initial project acquisition through pre‐feasibility to full bankable feasibility studies, in addition to being highly experienced in mine design, construction and commissioning of mines and processing facilities. He also has extensive corporate level experience including project assessment / valuation, mergers and acquisitions and finance structuring. Mr Fitzmaurice has been with Gulf since 2008 and has been a key player in championing the recommissioning of the Namekara Vermiculite Mine in Uganda.

Mr Brook has 30 years’ experience working within the mining industry having graduated with a Bachelor of Science in Mining Geology from the University of Wales in 1981. He joined MIM Holdings in Queensland in 1983 as a mine geologist in the copper and lead‐zinc‐silver operations before progressing to Chief Geologist for the copper mining operations. In 1993 Mr Brook joined Stockbrokers J B Were & Son as a resource analyst specialising in emerging resource companies in the gold, base metal and mineral sands sectors. In 2000 Mr Brook’s research was awarded the prestigious Best Junior Company Research Award from the Australian Gold Council.

In 2001 Mr Brook joined Lion Selection Group, a mining investment company with exposure to investments made by the special purpose African Lion investments funds (African Lion, African Lion 2 and African Lion 3) and Asian Lion fund, of which he became an Executive Director of in 2004. The African Lion 3 Fund is a major shareholder in Gulf and currently owns 19.8% of the issued share capital.

The Appendix 3X’s for Messrs Fitzmaurice and Brook are attached.

*ENDS***

*ENDS***
FURTHER INFORMATION
Scott Reid, Executive Deputy Chairman	t
Wayne Kernaghan, Finance Director and Company Secretary	t
Victoria Thomas, Six Degrees Investor Communication	t

Level 10 Gold Fields House 1 Alfred StreetSydney NSW 2000 ●PO Box R745 Royal Exchange NSW 1225 Australia t +61 2 8247 5333 ● f +61 2 9247 7722

ACN 115 027 033

www.gulfindustrials.com.au

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity Gulf Industrials Limited ABN 13 115 027 033

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Michael David Brook
Date of appointment	7 January 2011

Part 1 - Director’s relevant interests in securities of which the director is the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Number & class of securities

Nil

• See chapter 19 for defined terms.

Appendix 3X Page 1

11/3/2002

Appendix 3X Initial Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

	Name of holder & nature of interest Note: Provide details of the circumstances giving rise to the relevant interest. Nil	Number & class of Securities

Part 3 – Director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	Nil
Nature of interest
Name of registered holder (if issued securities)
No. and class of securities to which interest relates

• See chapter 19 for defined terms.

Appendix 3X Page 2

11/3/2002

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity Gulf Industrials Limited ABN 13 115 027 033

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Victor-Mark Fitzmaurice
Date of appointment	7 January 2011

Part 1 - Director’s relevant interests in securities of which the director is the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Number & class of securities

2,133,333 fully paid ordinary shares

1,122,898 options expiring 30 June 2011

1,775,000 options expiring 31 March 2013

• See chapter 19 for defined terms.

Appendix 3X Page 1

11/3/2002

Appendix 3X Initial Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

	Name of holder & nature of interest Note: Provide details of the circumstances giving rise to the relevant interest. Nil	Number & class of Securities

Part 3 – Director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	Nil
Nature of interest
Name of registered holder (if issued securities)
No. and class of securities to which interest relates

• See chapter 19 for defined terms.

Appendix 3X Page 2

11/3/2002