CASSIUS MINING LIMITED — Board/Management Information 2012

Feb 12, 2012

13 February 2012

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ASX ANNOUNCEMENT

Board and Management Changes

Gulf Industrials Limited (“Gulf” or “the Company”) (ASX Code: GLF),the African focused mineral explorer, producer and developer wishes to announce the appointment of Mr Mark Arnesen as a Director and Chief Executive Officer effective immediately. Mr Arnesen had previously been Acting Chief Executive Officer & Chief Financial Officer of the Company since October 2011.

The Company also wishes to advise of the resignation of Mr Mike Brook as a non executive director of the company effective immediately.

Sir Sam Jonah commented, “I wish to express the entire Board’s appreciation for the contribution Mike has made to the development of Gulf over the past year. We all wish him the very best for the future.”

Mr Arnesen’s initial directors interest notice (Appendix 3X) and Mr Brook’s final directors interest notice (Appendix 3Z) are attached.

*ENDS***

FURTHER INFORMATION

Mark Arnesen, CEO Wayne Kernaghan, Director

t | 02 8247 5333 t | 02 8247 5333

ABOUT GULF

Gulf Industrials is an African focused mineral developer with exploration and development assets in Uganda and Madagascar.It is the company’s aim to create value for shareholders through the identification, acquisition and valorisation of resource focused projects, with a particular emphasis on regions where Gulf maintains relationships that provide a strategic advantage.

With a team of experienced engineering, project management, legal, financial and resource specialists, Gulf fosters and seeks to develop projects of major significance to both the company and the countries in which Gulf operates.

Gulf Industrials Limited Level 10 Gold Fields House 1 Alfred Street Sydney 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	Mark Richard Arnesen
Date of appointment	10/02/12

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

850,000 ordinary shares 600,000 listed options expiring 31 December 2012 exercisable at 2.5 cents 6,000,000 unlisted options expiring 10 March 2016 exercisable at 7.9 cents 12,000,000 unlisted options expiring 30 November 2016 exercisable at 2.5 cents

• 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.	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 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 3Z Final Director’s Interest Notice

Rule 3.19A.3

Appendix 3Z

Final 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.3 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of director	Michael David Brook
Date of last notice	28/4/11
Date that director ceased to be director	10/2/12

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

2,000,000 unlisted options exercisable at $0.086 expiring 31 March 2014

• See chapter 19 for defined terms.

Appendix 3Z Page 1

11/3/2002

Appendix 3Z Final Director’s Interest Notice

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

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.

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	Number & class of securities

Part 3 – Director’s interests in contracts

Detail of contract 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 3Z Page 2

11/3/2002