CASSIUS MINING LIMITED — Capital/Financing Update 2009

Feb 25, 2009

26 February 2009

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ASX ANNOUNCEMENT

GULF to purchase production asset in East Africa

The Directors of Gulf Resources Limited are pleased to announce the signing of a heads of agreement with a major resources group to purchase an operating asset (industrial minerals sector) in Eastern Africa. The terms of the sale and other operational details are considered commercial in confidence as this stage. The company is currently completing due diligence and will release further details in due course.

Further Information:

Andrew Johnstone, COO t: 02 8247 5333 Scott Reid, Chairman t: 02 8247 5333

Attribution

The information in this report that relates to Exploration Results is based on information compiled by Andrew Johnstone who is a Fellow of the Financial Services Institute of Australasia, members of both the Australian and American Societies of Exploration Geophysicists, and member of the Australasian Institute of Geoscientists (AIG). Mr Johnstone provides exploration management services to Gulf Resources Ltd. Mr Johnstone has extensive qualifications and experience in the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Johnstone consents to the inclusion in the report of the matters based on information provided by him and in the form and context in which it appears.

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.gulfresources.com.au

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