CLASSIC MINERALS LTD — Capital/Financing Update 2018

Feb 8, 2018

==> picture [276 x 41] intentionally omitted <==

9 February 2018

ASX & MEDIA ANNOUNCEMENT

Forrestania Gold Project – High Grade Gold

• ∂ Drilling at Lady Ada has returned high grade gold results from outside the current Scoping Study pit design, highlighting significant potential to expand current Mineral Resource estimate at the Forrestania Gold Project (FGP)

∂ Hannans owns a 20% free-carried interest in the FGP

Hannans Ltd’s (ASX: HNR) joint venture partner Classic Minerals Ltd (ASX:CLZ) has announced additional high grade gold results from the FGP located approximately 120km south of Southern Cross in the Goldfields region of Western Australia (refer Figures 1 and 2 on page 2). Hannans owns a 20% interest in the FGP[1] . Please refer to www.asx.com.au for full details of the release by Classic Minerals.

Hannans' interest is free-carried, meaning the Company 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 tenements including but not limited to nickel, lithium and other metals.

For further information, please contact:

Damian Hicks Executive Director +61 8 9324 3388 (M) damianh@hannansreward.com (E)

About Hannans Ltd

Hannans Ltd (ASX:HNR) is an exploration company with a focus on nickel, gold and lithium in Western Australia. Hannans’ major shareholder is leading Australian specialty minerals company Neometals Ltd. Since listing on the ASX in 2003 Hannans has signed agreements with Vale Inco, Rio Tinto, Anglo American, Boliden, Warwick Resources, Cullen Resources, Azure Minerals, Neometals, Tasman Metals, Grängesberg Iron, Lovisagruvan and Montezuma Mining Company. Shareholders at various times since listing have included Rio Tinto, Anglo American, OM Holdings, Craton Capital and BlackRock. For more information, please visit www.hannansreward.com.

1 Refer to the ASX release made by Classic Minerals Ltd dated 2 May 2017 for full details of the mineral resource and compliance with the JORC Code, 2012 Edition. Hannans has no interest in the Lady Lila prospect which is part of the FGP resource. The tenements containing the FGP are registered in the name of Reed Exploration Pty Ltd, a wholly owned subsidiary of Hannans Ltd.

==> picture [483 x 52] intentionally omitted <==

LIMITED

==> picture [100 x 15] intentionally omitted <==

==> picture [335 x 303] intentionally omitted <==

Figure 1: Location Map showing Hannans’ Forrestania Project (adjacent to Mt Holland Lithium) and Queen Victoria Rocks Project and Lake Johnston Joint Venture Project (Hannans free-carried)

==> picture [339 x 272] intentionally omitted <==

Figure 2: Hannans holds a 20% free-carried interest in the FGP. This map shows all the

gold targets identified by Classic Minerals Ltd

2 | Page