CASSIUS MINING LIMITED — Regulatory Filings 2017

Mar 28, 2017

ASX ANNOUNCEMENT

29 MARCH 2017

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GBANE PROJECT DRILLING PROGRAMME TO COMMENCE IN APRIL 2017

HIGHLIGHTS

• 5,000m maiden drill programme to commence April 2017

• Use of two rigs operating 24 hours per day

• Construction of site camp facilities underway

Gulf Industrials Limited (“Gulf” or “The Company”) announces the commencement of Stage 1 of a targeted comprehensive Reverse Circulation (“RC”) and Diamond Core drilling programme within the Gbane Project in Ghana.

Recent geophysical and geochemical surveys, together with extensive surface geological mapping, have indicated the presence of granitic intrusives and related fracture systems, closely associated with anomalies in the distribution of key pathfinder elements for gold mineralisation in the project area. A results-driven drilling programme has been constructed to define the structural geology, and evaluate these anomalies to determine the distribution and nature of the gold mineralisation. (refer to ASX announcement on 27 March 2017)

Drilling Plan

• The programme will start in April 2017 with an expected duration of approximately 3045 days (extendable depending on results)

• A dual rig drilling programme across the primary mineralised target zones has been identified, based on prior geochemical, geophysical and geological mapping work already completed

• The programme is designed to generate key structural geological information whilst also intersecting potential multiple sub-surface mineralised zones of interest, using a multipurpose RC /Diamond rig and a 2[nd] dedicated Diamond rig

• Both rigs will drill along multiple drill lines at an approximate 400m separation, in a direction set perpendicular to the strike of the mineralised trend

• An initial series of predetermined primary RC holes will be drilled to a minimum 150 metre vertical depth at -60[o] inclination, to intersect the key mineralised zones

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• A second series of continuous Diamond Core holes will be constructed running parallel to key RC holes from the initial series (within 5m metres where practical for comparative twinning). This will gather critical structural geological information, whilst also simultaneously conduct Quality Control on the adjacent RC holes

• Further series of both RC and Diamond Core infill holes will then be subsequently constructed to advance the total geological model understanding. These holes will be located and defined along the drill lines based on real-time 3D geological modelling software interpretation and on-site data testing

• Gross drilling metres are estimated at up to 3000m (RC) and 2000m (Diamond Core), and may be increased depending on results.

Initial Drilling Budget

• The budget for the drilling and assay work has been approved up to USD$600,000. This will be reviewed as drilling progress is made and results evaluated, with the potential to be increased to allow an expanded programme.

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Camp Site Facilities

Work has commenced on the project camp site and storage facilities. An auger sterilisation programme has been recently completed to qualify the proposed area for immediate construction of a secured fenced exploration camp and storage facility which is approximately 1 hectare area. The facility is sited within close proximity to the drilling programme area, and also serviced by newly constructed local water bores which also servicing the drilling programme.

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Contact:

Wayne Kernaghan t: +61 2 8226 3323

James Arkoudis

e: wayne.kernaghan@gulfindustrials.com.au t: +61 2 8321 7943

e: james.arkoudis@gulfindustrials.com.au

Gulf Industrials Limited ACN 115 027 033 Level 7, 99 Macquarie Street m: PO Box R383 Sydney NSW 2000 Royal Exchange NSW 1225 Australia

Competent Person Statement

The information in Report that relates to Exploration Results is based on information compiled by Anthony Bainbridge who is a Member of the Institute of Materials, Minerals and Mining, a ‘Recognized Professional Organization’ (RPO) including in the list promulgated by the ASX from time to time. Bainbridge is a consultant working for Asia Intercept Mining Limited and has been engaged by Gulf Industrials Ltd to prepare documentation for the Gbane Project. He has sufficient experience which is related to the style of mineralization and type of deposit under consideration and to the activity which has been undertaken, to qualify as Competent Person as defined by the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”, Anthony Bainbridge consents to the report being issued in the form and context in which its appears.

Disclaimer and Forward Looking Statements

This announcement has been prepared by the Company. This announcement is being provided to investors for the sole purpose of providing preliminary background financial and other information to enable recipients to review the business activities of the Company. The document is not intended to constitute an invitation or an inducement to engage in any investment activity. The announcement is not intended to constitute investment advice and should not be relied upon as such. This document is not intended as an offer or recommendation with respect to the purchase or sale of any securities in the Company.

The content and graphical illustrations contained in the announcement are provided for information purposes and should not be relied upon to form any investment decisions or to predict future performance. The Company is wholly reliant upon third parties for the accuracy and completeness of the information in the announcement and has no duty of care owed to you in relation to such information. Although the information expressed is provided in good faith and the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved. Important factors that could cause actual results to differ materially from those included in the forward-looking statements include amongst others, unforeseen delays in project exploration and development, unfavourable results from the exploration program, falling resource prices and the ability of the Company to meet its stated business goals.

Prospective investors should make their own independent evaluation of an investment in the Company or seek advice from their financial adviser, accountant, lawyer, stockbroker or other professional adviser before making any investment decision. Nothing in this announcement should be construed as financial product advice, whether personal or general, for the purposes of Section 766B of the Corporations Act, or otherwise. This announcement does not amount to, involve or imply a recommendation or a statement of opinion in respect of whether to buy, sell or hold a financial product.

Neither Gulf or any of its or their associates or any of the Company’s directors’ (Gulf Group) shall have any liability whatsoever for: (a) investment advice; (b) a recommendation to enter into any transaction or strategy;

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(c) advice that a transaction or strategy is suitable or appropriate; (d) the primary basis for any investment decision;

(e) a reannouncement, warranty, guarantee with respect to the legal, accounting, tax or other implications of any transaction or strategy; or (f) to cause the Gulf Group to be an advisor or fiduciary of any recipient of this report or other third party. None of the Gulf Group shall be responsible for or have any liability to you for losses or damages (whether consequential, incidental or otherwise) arising in any way for errors or omissions in, or the use of or reliance upon the information contained in this document. To the greatest extent permitted by law, we exclude all conditions and warranties that might otherwise be implied by law with respect to the document, whether by operation of law, statute or otherwise, including as to their accuracy, completeness or fitness for purpose.

Unauthorised copying of this document is prohibited.

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