CLASSIC MINERALS LTD — Capital/Financing Update 2017

Mar 13, 2017

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14 March 2017

ASX & MEDIA ANNOUNCEMENT

Gold Resource at Forrestania

 Hannans owns 20% free-carried interest in the Forrestania Gold Project (FGP)

 FGP contains 216,650 ounce gold resource[1]

Hannans Ltd (ASX: HNR) is pleased to advise that a gold resource for the Forrestania Gold Project was reported to ASX this morning by joint venture partner Classic Minerals Ltd (ASX:CLZ). The resource is reported in accordance with the JORC Code, 2012 Edition.

Hannans holds a 20% interest in the FGP[2] which is located south of Southern Cross, Western Australia. Hannans' interest is free-carried, meaning Hannans is not required to fund any activities on the FGP until a decision to mine has been made. Hannans shareholders therefore remain exposed to the upside on the FGP without the requirement to fund exploration.

For the avoidance of doubt Hannans Ltd owns a 100% interest in all non-gold rights on the FGP tenements including but not limited to nickel, lithium and other metals.

For further information, please contact:

Damian Hicks Executive Director +61 419 930 087 (M) damianh@hannansreward.com (E)

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1 Please refer to the release made by Classic Minerals Ltd to ASX dated 14 March 2017 for full details of the resource and compliance with the JORC Code, 2012 Edition.

2 The tenements containing the FGP are registered in the name of Reed Exploration Pty Ltd, a wholly owned subsidiary of Hannans.

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