CASSIUS MINING LIMITED — Board/Management Information 2010

Aug 30, 2010

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ASX ANNOUNCEMENT 31 AUGUST 2010

Appoints Former Mining Communications Chairman Chris Innis as Non Executive Director

Gulf Industrials (‘Gulf’ or ‘the Company’), the East African focused industrial mineral developer is pleased to announce the appointment of Mr Christopher Innis as a Non Executive Director. Chris is a well known figure in the global mining industry, having previously served as Chairman and Non Executive Director for Mining Communications in London.

Chris is a professional manager with a background in strategy, marketing and finance and has worked across a number of industries including investment banking, media and mining in senior positions including Chairman and Board Director. pChris specialises in growing businesses and is skilled in re‐engineering business strategies and implementing and managing growth plans. In his role as Non Executive Director at Gulf, Chris will play a key role in overseeing the move from a pure exploration company into a multi commodity production house.

Mr Innis is currently Chairman of Intierra Pty Ltd, a global competitive intelligence service for the mining industry and Edge Custom Media, a content agency for multiple media channels. Previous experience includes Chairman of Mining Communications where he initiated, led and arranged the management buy in, achieving an exit of approximately nine times money for original investors and 22 times for management. Chris was previously a director of London listed Angus & Ross and AIM Resources (now Blackthorn Resources ASX : BTR) where he assisted in raising $30 million in London. Chris has also served on the management board of EMAP plc and was an Associate Director at Hambros Bank plc where he worked in corporate finance. He trained as a lawyer and has two degrees from the University of Sydney.

Commenting on the appointment Chairman Scott Reid said, “Chris is well versed in global markets having worked in London, New York and Paris, in addition to Australia and we believe his experience will be instrumental in propelling Gulf forward as we move towards becoming a recognised industrial minerals production company”.

The Appendix 3X for Chris Innis is attached.

*ENDS***

FURTHER INFORMATION

Scott Reid, Executive Chairman t | 02 8247 5333 Wayne Kernaghan, Finance Director and Company Secretary t | 02 8247 5333 Victoria Thomas, Six Degrees Investor Communication t | 03 9674 0347

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	CHRIS INNIS
Date of appointment	31 AUGUST 2010

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

800,000 FULLY PAID ORDINARY SHARES

• See chapter 19 for defined terms.

11/3/2002

Appendix 3X Page 1

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