CLASSIC MINERALS LTD — Capital/Financing Update 2015

Feb 24, 2015

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ASX Announcement 25 FebruAry 2015

neW DRILLInG PRoGRAm tARGetS “GRAVItY coRRIDoR”

classic minerals Limited (ASX code: cLZ) is pleased to announce the start date for the definition drilling program at the Alpha copper Deposit to delineate the shallow and outcropping copper mineralisation. the Rc Drilling program and mobilisation will commence today – 25[th] February 2015. the drill program is scheduled to be completed in two weeks with analysis results expected by the end of march.

Classic Minerals Limited’s (ASX:CLZ) latest rC drilling program, which commences today (Wednesday, February 25) will, in addition to outlining a workable resource at its Alpha copper deposit, pursue mineralisation in dense rocks of the “gravity corridor” running through a significant area of the Fraser range.

Classic’s Managing Director, Justin Doutch, said the company already had aeromagnetic data awaiting interpretation which, coupled with the results of the current drilling program, would help to determine the presence of a geological model link between the Alpha deposit and other significant recent finds in the Fraser range.

“The theory of a ‘gravity corridor’, where dense rocks have been thrust up to the surface, bringing nickel and other sulphides, was originally raised by Sirius resources, and strengthened by recent significant results produced by Mount ridley Mines this month,” said Mr. Doutch.

“Images of the gravity anomaly for the Fraser range area show that the Classic tenement is also in this corridor,” he said.

He said Classic’s Alpha deposit was just 60kms north east of Sirius’ Nova and bollinger deposits, with the area covered by Mt. ridley’s recent results a further 120kms to the south west along strike.

“I’m confident the results of our current program will further raise awareness of the real potential of Fraser range, which is still relatively unexplored,” said Mr Doutch.

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Justin Doutch

Managing Director Phone: 08 94453008 justin@classicminerals.com.au

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