CASTLE MINERALS LIMITED — Capital/Financing Update 2018

Feb 20, 2018

Beasley Creek Prospectivity Enhanced

• Detailed mapping and interpretation confirms Mt Roe Basalt and Conglomerate to be considerably more extensive than expected

• • Conglomerates mapped above, within and below Mt Roe Basalt with latter receiving most attention in broader Pilbara context

• Four key prospect areas now identified along 16km unconformity surface

• • Historical RC drilling (1998) intersected interpreted Hardey Conglomerate with best intercept of **4m at 11.4g/t Au from 20m (RRC15)

• Target finessing planned next. To be followed by bulk sampling after licence grant

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“The broader prospectivity at Beasley Creek has been considerably enhanced following the confirmation of several more kilometres of previously unrecognised Mt Roe Basalt and especially Mt Roe Conglomerate along the 16km unconformity” Castle Managing Director, Stephen Stone said.

“ The recovery of previously reported numerous small gold nuggets* proximal to the Mt Roe and Hardey conglomerates plus anomalous historical RC drilling intercepts in the Hardey conglomerate reinforce Beasley Creek as a credible and sizable target for conglomeratehosted gold mineralisation”.

*(Refer ASX release dated 20th December 2017 and included Table 1).

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ASX & Media Release ASX Code: CDT 21 February 2018

Suite 2 / 11 Ventnor Ave West Perth WA 6005 PO Box 437 West Perth WA 6872 Tel: +618 9322 7018 ACN 116 095 802

www.castleminerals.com info@castleminerals.com Registered Office: Suite 5 / 95 Hay Street Subiaco WA 6008

Capital Structure: Quoted Shares: 221.8M 3c Options: 6M Board:

Michael Atkins Chairman

Stephen Stone Managing Director

Ian Hobson Non-Executive Director and Company Secretary

**The historical drilling results referred to in this release were obtained by previous explorers. Information pertaining to the drilling, sampling and assaying techniques has been extracted from reports lodged in 1998 with Geological Survey of Western Australia (GSWA). Castle personnel have located and verified in the field the collar positions of the referred to holes. (Refer Appendix 1 and 2).

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Castle Minerals Limited: Beasley Creek Update – 21 February 2018

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Photo1: Mt Roe Conglomerate outcrop at Beasley West

Photo 2: Detectorist at alluvial workings overlying Hardey Conglomerate at Beasley Central

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Castle Minerals Limited (“Castle” or the Company) (ASX: CDT) advises that a recently completed analysis of detailed field mapping undertaken in late-December 2017 plus acquired historical data has considerably enhanced the prospectivity of its Beasley Creek Conglomerate-Hosted Gold Project, Pilbara Region, Western Australia.

In addition to the presence of Mt Roe Basalt, prospective Mt Roe Conglomerate has also now been identified outcropping and sub-outcropping more extensively than first thought over the 16km Beasley Creek unconformity with the underlying Old Archean rocks. The Mt Roe Conglomerate varies from very narrow up to 40m thick.

The unconformity was mapped in detail in December 2017 by Castle’s geologist in association with two metal detectorists who tested for nuggets in the vicinity of known gold workings and on a more reconnaissance basis at several other areas along the unconformity (Figures 1, 2 and 3 and Photos 1, 2, 3 and 4).

This and a number of other factors now confirm Beasley Creek as a credible and sizable target for conglomerate-hosted gold mineralisation.

These other factors are the previously reported recovery of numerous small nuggets from three separate areas that are proximal to the Mt Roe and Hardey conglomerates and recently retrieved historical reverse circulation (RC) drilling data where ‘in-situ’ gold mineralisation in the Hardey Conglomerate was intersected, with one hole returning *4m at 11.4g/t Au from 20m (Refer Appendix 1 and 2)(Refer ASX release dated 20th December 2017 and included Table 1).

The Mt Roe Basalt at Beasley Creek is believed to represent remnants of a more extensive sequence that flanked the locally prominent Rocklea Dome and which subsequently was eroded pre-Hardey Formation deposition. The remaining Mt Roe Basalt most likely occupied depressions, lagoons and channels in the paleo-topography.

Four areas of particular interest have been identified at Beasley Creek within the 16km unconformity:

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Figure 1: Beasley Creek: Map showing 16km geological unconformity between Lower Fortescue Group and Old Archean, almost continuous Hardey Formation and/or Conglomerate, intermittently outcropping Mt Roe Basalt plus location of historical workings, scrapings and RC drilling

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Beasley Central

Beasley Central is the most interesting target and occupies a valley approximately 2km long. Hardey Conglomerate up to 40m thick and dipping 40o to the northeast has been mapped against the Old Archean unconformity surface and overlying sandstones of the Hardey Formation. The conglomerate comprises polymictic clasts of basalt, granite and quartz set in a coarse-grained sandy matrix. The pebbles are rounded and range from coarse to boulder sized.

Gold has been recovered since the late 1970’s from colluvium overlying the Hardey Conglomerate in the central part of the prospect. There is evidence of extensive mechanical scraping and treating of the dirt through a now removed screening plant to extract the coarse nugget gold. Screened material from the processing was been placed in vats constructed on the flats on the eastern side of the valley presumably for leaching. GSWA records indicate 70oz of gold production to 1994. However, these records appear incomplete and understated given the extent of the workings and infrastructure.

CRA Exploration completed nickel and PGE exploration over the area between 1993 – 1995 with the focus being mineralisation within dolerite intrusions in the Hardey Sandstone sequence. CRA’s work included regional stream sediment sampling, soil sampling and limited drilling. The regional stream sediment sampling identified gold anomalism in creeks draining the prospect. CRA recognised the association of the gold scrapings and conglomerate rocks as a possible Witwatersrand-style setting and completed a programme of five, very shallow trenches across the conglomerates which it channel sampled. No anomalous nickel-PGE values were returned and the project was surrendered.

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Figure 2: Beasley Central prospect geology

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After CRA a private company, Vageta Pty Ltd, secured the ground and followed-up on the CRA results with further stream sediment sampling and soil sampling covering the Old Archean as well as Fortescue Group sequences.

From 1997 to 1999 Diamond Rose NL (ASX: DSN) farmed into the ground and completed a programme of reverse circulation drilling directly targeting the conglomerate units that it believed to be the source of the alluvial gold, as well as a number of geochemical targets in the underlying Old Archean stratigraphy.

Diamond Rose drilled a total of 23 inclined and vertical holes over a strike of approximately 900m of the Hardey Conglomerate and reported its work to Geological Survey of Western Australia (GSWA) in WAMEX Report A59957. The results (4m composite samples) were also released to ASX on the 30[th] November 1998.

Of the 23 holes, 19 intersected Hardey Conglomerate with several returning anomalous gold values (Appendix 1 and 2). The best intercept of 11.4g/t Au from 20m (RRC 15) was obtained close to the contact between the Old Archean surface and conglomerate boundary.

These historical results, if to be relied upon, would indicate that the anomalous gold mineralisation is from within the conglomerate unit. However, given the issues with effectively sampling this style of high nugget content mineralisation, the relevance of the drill results was probably not recognised at the time.

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Castle Minerals Limited: Beasley Creek Update – 21 February 2018

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Current Programme

Castle’s recent programme mapped in detail the location of the unconformity surface and conglomerate units through the Beasley Central prospect. The conglomerate unit appears to be part of the lower member of the Hardey Formation. Finer grained laminated sandstones of the Hardey Formation conformably overly the conglomerates to the north. Outcrops of Mt Roe Basalt lying directly on the unconformity surface were mapped immediately to the west of the prospect. A number of holes drilled by Diamond Rose logged basalt below the conglomerates in the central part of the prospect area suggesting a lower unconformity surface may also be present at depth. Subject to the paleo-topography in this particular area, this is likely to be Mt Roe Basalt and possibly Conglomerates.

The metal detecting team recovered a number of nuggets across the prospect with the majority found in alluvial material overlying the conglomerate. However, due to the disturbances caused by historical scraping activity, none of the nuggets recovered can be confirmed as having been originally ‘in-situ’.

Beasley East

The Beasley East Prospect covers a strike of approximately 2km. Mt Roe Conglomerates up to 60m thick are mapped directly on the Old Archean unconformity and are overlain in part by basalts belonging to the Mt Roe Basalt Formation. On the eastern side of the prospect a younger conglomerate, possibly of Hardey Formation age, overlies the basalt. Sandstones belonging to the Hardey Formation outcrop further to the northwest. No nuggets were detected on the prospect. However, access into the area is difficult and the cover in places is quite thick. Given the likelihood of two unconformity surfaces to explore, this area is nevertheless considered to be high-priority for further work.

Figure 3: Beasley East prospect geology

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Beasley West

The Beasley West prospect is in an approximately 1.2km long and between 200m and 600m wide paleodepression on the Old Archean unconformity surface. On the eastern side of the prospect basalt, believed to be Mt Roe Basalt, and conglomerate outcrop on the unconformity surface. There is evidence of inter-fingering of basalt and conglomerate along the contact. Intermittent outcrops of basalt occur on the unconformity surface further along the contact to the west, but outcrop is poor.

To the north, immediately below a prominent ridge of outcropping fine grained Hardey Sandstone, a thin conglomerate horizon has been mapped over a strike of approximately 700m and is likely to be Hardey Formation.

Work by the metal detecting team identified three gold nuggets in colluvium below the outcropping Hardey Formation conglomerate and above the unconformity surface. The area where the nuggets were found is largely covered by scree with little outcrop. At this stage, it is uncertain if the nuggets were derived from either the lower Mt Roe Basalt conglomerate or the Hardey Conglomerate units.

Beasley Far West

At the Beasley Far West prospect, Mt Roe Conglomerate has been mapped filling a paleo-depression in the unconformity surface approximately 300m wide. Late stage dolerite dykes have been mapped crosscutting the stratigraphy.

The conglomerate is approximately 70m thick and tapers out to the east and west but outcrops poorly. To date no gold nuggets have been found in this area.

Photo 3: Conglomerate outcrop at Beasley Far Photo 4: Conglomerate outcrop at Beasley East West

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Follow-up programme

Castle is planning a further round of work at Beasley Creek as soon as weather and access conditions allow. This will include detailed metal detecting and the collection of stream sediment samples from the advanced targets defined to date. Once the Exploration Licence is granted, Castle plans to bulk sample the conglomerate at the Beasley Central prospect.

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Update on Coolyia Creek

The field mapping, detecting and sampling programme at Coolyia Creek is planned to proceed once the restrictive weather and field conditions abate.

Stephen Stone Managing Director Mb 0418804564 stone@castleminerals.com

About Castle Minerals Limited

Castle Minerals is listed on the Australian Stock Exchange (ASX: CDT) and headquartered in Perth, Western Australia. In addition to its interest in the Coolyia Creek and Beasley Creek ‘Witwatersrandstyle’ conglomerate-hosted gold projects in the Pilbara region of Western Australia, it has a large contiguous tenure position in the Upper West region of Ghana, West Africa, a country with a long history of gold exploration and mining. Its Ghana licence holdings encompass large tracts of highly prospective Birimian geological terrane, the host to many of West Africa’s multi-million-ounce gold mines. All of Castle’s ground in Western Australia and Ghana, whilst at a relatively early stage of exploration, presents a number of compelling targets that offer considerable opportunities for discoveries.

Cautionary Statement

The Coolyia Creek and Beasley Creek Projects are considered to be of early stage, grass roots exploration status. No Competent Person has done sufficient work in accordance with JORC Code 2012 to conclusively determine if gold is present in conglomerates on the licences applied for or to estimate in what quantities but in each case the general integrity of mapping by the GSWA has been confirmed. It is possible that following further evaluation and/or exploration work that the confidence in the information used to identify and acquire interests in the areas of interest in the Pilbara may be reduced when reported under JORC Code 2012. No work other than a desk-top review or low-impact reconnaissance mapping and sampling can be undertaken at either Project until the licences are granted which amongst other things requires the consent of the Minister, or an Officer of the department acting with the authority of the Minister, and is also subject to the statutory Native Title notification and negotiation period.

Competent Persons Statement

The scientific and technical information in this Report that relates to the geology of the deposits and exploration results is based on information compiled by Mr Stephen Stone, who is a Director of Castle Minerals Limited. Mr Stone is a Member of the Australian Institute of Mining and Metallurgy and has sufficient experience which is relevant to 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 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Stone is the Qualified Person overseeing Castle’s exploration projects and has reviewed and approved the disclosure of all scientific or technical information contained in this announcement that relates to the geology of the deposits and exploration results.

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Forward Looking Statement

Statements regarding Castle’s plans, forecasts and projections with respect to its mineral properties and programmes are forward-looking statements. There can be no assurance that Castle’s plans for development of its mineral properties will proceed as currently expected. There can be no assurance that Castle will be able to confirm the presence of Mineral Resources or Ore Reserves, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of Castle’s mineral properties. The performance of Castle may be influenced by a number of factors which are outside the control of the Company, its Directors, staff or contractors.

Appendix 1: 4m composite intercepts of gold within Hardey Conglomerate stratigraphy obtained by RC holes completed in 1998 by the Vageta / Diamond Rose NL joint venture on the Beasley Central Prospect (WAMEX Report A59957)

Hole	Easting	Northing	RL	Depth (m)	Azim	Dip	From (m)	To (m)	Interval (m)	Grade (g/t Au)
RRC01	535789	7483102	479	124	0	-90	4	8	4	0.023
						and	16	20	4	0.017
						and	32	36	4	0.1
RRC02	535839	7483096	484	60	0	-90	4	40	36	0.02
RRC03	535884	7483083	473	80	0	-90	20	28	8	0.046
RRC04	535932	7483068	470	60	0	-90	4	36	32	0.02
RRC05*	535976	7483041	470	100	0	-90	0	36	36	0.023
RRC06	536016	7483007	467	80	194	-60	0	8	8	0.016
RRC07	536059	7482991	466	60	0	-90	8	12	4	0.011
RRC08	535961	7483015	470	51	0	-90	0	12	12	0.047
RRC09	535914	7483042	472	70	0	-90	4	24	20	0.034
RRC10	535880	7483060	467	60	0	-90	0	8	8	0.151
						incl	0	4	4	0.29
RRC11	535825	7483062	472	80	201	-60	No Hardey Conglomerate
RRC12	535790	7483063	475	50	0	-90	0	12	12	0.038
RRC13*	535745	7483120	483	124	0	-90	4	28	24	0.02
RRC14*	535720	7483149	484	100	0	-90	24	40	16	0.017
RRC15	535656	7483159	477	100	0	-90	0	24	24	1.91
						inc	20	24	4	11.4
RRC16	535607	7483172	472	100	0	-90	0	24	24	0.02
RRC17	535562	7483188	471	80	0	-90	0	16	16	0.017
RRC18	535511	7483201	469	80	0	-90	20	32	12	0.024
RRC19	535461	7483228	469	80	195	-90	No Hardey Conglomerate
RRC20	535563	7483168	464	120	0	-90	20	32	12	0.07

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Hole	Easting	Northing	RL	Depth (m)	Azim	Dip	From (m)	To (m)	Interval (m)	Grade (g/t Au)
						incl	20	24	4	0.18
RRC21	535645	7483137	469	60	0	-90	No Hardey Conglomerate
RRC22	535685	7483122	468	123	195	-60	No Hardey Conglomerate
RRC23	535731	7483094	477	60	0	-90	0	8	8	0.03

NB: Collar co-ordinates from Castle GPS survey

*Assumed collar position as collar unable to be located in field by Castle

Appendix 2: JORC Code, 2012 Edition – Table 1

• Section 1: Sampling Techniques and Data

Criteria	JORC Code explanation	Certified Person Commentary
Sampling techniques	Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.	Sampling has been undertaken with Reverse Circulation (RC) drilling. Sampling was carried out using protocols established by Vageta Pty Ltd at the time. Prospectors / metal detectorists working under the direction of the mapping geologist used metal detectors to identify flake and nugget gold
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	RC samples were described as being collected as single metre intervals. No other details are available
	Aspects of the determination of mineralisation that are Material to the Public Report.	The gold mineralisation expected in the conglomerate unit is coarse grained with a high nugget component causing sampling to be problematic
	In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1m samples from which 3kg was pulverised to produce a 30g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	No description of the methods used to undertake the sampling have been described. It is assumed standard industry techniques were applied. Four metre composite samples were routinely collected down the hole and submitted for assay.
Drilling techniques	Drill type (eg core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	Reverse Circulation drill technique
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	Information not available

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Criteria	JORC Code explanation	Certified Person Commentary
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	Information not available
	Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	The gold mineralisation in the conglomerate rocks is believed to be coarse grained with a high nugget effect. The size of the sample and method of processing the samples is critical in establishing accurate grades for the intersections. The small sample size collected by RC drilling is not sufficient to accurately estimate the grade of the mineralisation.
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	All drill holes were geologically logged. The descriptions appear to be complete and provide a geological framework to constrain the mineralisation
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	Geological logging recorded a description of the major lithologies recovered from the drill chips. Quantitative estimates of the percentage of quartz veining were made.
	The total length and percentage of the relevant intersections logged.	All drill holes were geologically logged.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	N/A
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	N/A
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	Composite 4m samples were prepared from the 1m samples collected during the drilling. No details were provided on how the composite samples were collected. For sampling gold mineralisation with an expected high component of coarse gold the sample size is not considered representative.
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	Not described
	Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.	Not described
	Whether sample sizes are appropriate to the grain size of the material being sampled.	The sample size is not considered sufficient to adequately represent the mineralisation
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.	Samples were submitted to ALS Laboratories Pty Ltd. Gold was analysed by the PM205 technique with a lower detection limit of 0.001 ppm. Cu, Pb, Zn, Ag, As, Fe, Bi, Cd, Co, Mg, Mn, Mo, Ni, P, Sb, Cr were analysed bythe IC 205 technique
	For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determiningthe analysis	N/A

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Criteria	JORC Code explanation	Certified Person Commentary
	including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
	Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	Only internal laboratory QA/QC was undertaken
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	During the recent Castle field campaign, the remnants of sample bags from several holes were located close to drill collars. The bags were in a highly degraded condition and depth intervals obscured. Metal detecting of the sample bags failed to identify any gold nuggets or flakes
	The use of twinned holes.	No twinned holes
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	All information on the full drilling programme is described in “1999 Annual Report on E47/827,844 Rocklea Gold Project Pilbara WA “Vageta Pty Ltd WAMEX A59957.
	Discuss any adjustment to assay data.	No applicable
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	The coordinates for the drill holes were initially recorded in local grid coordinates. During the recent Castle field mapping campaign, the coordinates of the drill holes were measured by hand held GPS with an accuracy of approximately 3m. The hole identifications were made by comparing drill plans in the report with the GPS drillpickup
	Specification of the grid system used.	Local grid and GDA 94 Zone 50 datum
	Quality and adequacy of topographic control.	The topography in the area of drilling has moderate relief, the accuracy of the elevation data from a GPS may only be accurate to +/-10m, and is not considered to be an absolute elevation reading
Data spacing and distribution	Data spacing for reporting of Exploration Results.	Drilling was on sections spaced approximately 100m apart. Generally, two holes were drilled on each section spaced approximately 30m apart. Hole spacing was determined by topography
	Whether the data spacing, and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.	No mineral resources are reported in this announcement
	Whether sample compositing has been applied.	N/A
Orientation of data in relation to	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	The samples were collected from holes drilled approximately perpendicular through the stratigraphy

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Criteria	JORC Code explanation	Certified Person Commentary
geological structure	If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	Drill sections were positioned perpendicular to the strike of the stratigraphy. Holes were inclined either -60Oor vertical. The stratigraphy dips approximately 40O– 50Oto the north.
Sample security	The measures taken to ensure sample security.	No details are available on the steps Vageta took to ensure the security of the samples or field data.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	No audits or reviews of sampling techniques have been conducted.

• Section 2: Reporting of Exploration Results

Criteria	JORC Code explanation	Certified Person Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.	All work reported was completed on ELA47/ 3490 which is currently under application. Castle Minerals Ltd has acquired an 80% interest in the licence under the terms advised to the ASX on 7 November 2017. As the tenement has not been granted the metal detectingwas undertaken under a Miners Right
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	The tenement is still in the application stage. No impediments to grant have been identified.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	The project area has been subject to a number of past exploration campaigns. The most relevant work to the current work was completed by CRA Exploration Pty Ltd between 1993 and 1995, and a Vageta Pty Ltd / Diamond Rose Joint Venture between 1996 and 2000.
Geology	Deposit type, geological setting and style of mineralisation.	Castle is primarily exploring the project for placer conglomerate-hosted gold mineralisation situated on the unconformity surfaces within the Fortescue Group.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length.	Refer Appendix 1
	If the exclusion of this information is justified on the basis that the information is not Material	N/A

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Criteria	JORC Code explanation	Certified Person Commentary
	and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated	No weighting of drill results has been undertaken.
	Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.	Assay results reported are based on 4m composite samples originally collected by the Diamond Rose / Vageta JV during its drilling campaign
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	N/A
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results.	N/A
	If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.	N/A
	If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	N/A
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	N/A
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Reported results relate to those intercepts obtained in Hardey Conglomerate only and are provided purely to highlight anomalism in this unit.
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	No other material exploration data to report at this time.
Further work	The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).	Further work is planned as stated in this announcement.

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Criteria	JORC Code explanation	Certified Person Commentary
	Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	See figures in this announcement.

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