CLASSIC MINERALS LTD — Capital/Financing Update 2015

Feb 12, 2015

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ASX Announcement 13 FebruAry 2015

cLASSIc mIneRALS LtD AnnounceS DeFInItIon DRILLInG PRoGRAm At tHe ALPHA coPPeR DePoSIt, FRASeR RAnGe

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. mobilisation will commence on the 25th February 2015. the drill program is scheduled to be completed in two weeks with analysis results expected by the end of march.

This program follows up earlier rC drilling which intersected mineralisation over 500m to the Ne and dips West (Highest grade intersected at Alpha 1.95% Cu, refer to ASX announcement 29 August 2013).The mineralisation outcrops at the South end of the deposit, and is projected to outcrop to the east up dip of the existing drill holes. A new program of 20 rC holes and two Diamond core holes has been planned and has received POW approval (See figure 1). These holes are planned on grid lines 50m apart over 500m strike length along the estimated sub crop of mineralisation and should define the shallow copper mineralisation to a depth of 60 metres to allow Classic to estimate a resource in accordance with the 2014 JOrC Code. The two core holes will act as twin holes for validation of the adjacent rC holes and to provide core for density estimation and metallurgical test work.

Mr Justin Doutch, Managing Director of Classic Minerals, said the company was excited about the upcoming program.

“This has the potential to outline a resource for the company, within just two years of our initial listing. A conceptual open cut pit at the Alpha Copper deposit is under consideration. I believe that perseverance in this highly prospective area will result in substantial rewards for the Company and its shareholders.”

“Other explorers in the Fraser range have made noteworthy discoveries in the past two years, confirming the substantial potential of the area. I also believe that the result of new discoveries in the area will act like a rising tide which lifts all boats” he said.

Whilst on site the company will also consider to undertake the first pass of aircore drilling over the historical Cu, Ni, Zn geochemical anomaly in the central part of the tenement. This includes a follow up of the recent Fe, Mn anomaly which extends 3km along strike.

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Justin Doutch

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

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ASX Announcement 13 FebruAry 2015

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Figure 1: Location of proposed drill holes at the Alpha copper Deposit

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