CLASSIC MINERALS LTD — Capital/Financing Update 2019

Sep 3, 2019

ASX Announcement

ASX: CLZ ACN 119 484 016

4 September 2019

KAT GAP EXTENDS AT DEPTH. HIGH GRADE GOLD INTERSECTED DOWN DIP.

Highlights:

• Kat Gap keeps on growing with the main granite-greenstone contact gold lode extending down dip a further 50m vertical below surface with significant gold mineralisation intersected adjacent to the cross-cutting Proterozoic dyke. This takes the average depth of gold mineralisation from 50-60m below surface down to 90-110m in the area adjacent to the dyke.

• High grade gold intercepts returned from down-dip extensions. Better results from the most recent drilling include:

9m grading 20.94 g/t gold from 123m, including 1m grading 125.00 g/t from 126m. 8m grading 8.26 g/t gold from 58m, including 2m grading 21.80 g/t from 61m. 13m grading 4.91 g/t gold from 33m, including 1m grading 22.10 g/t from 36m. 8m grading 4.19 g/t gold from 109m, including 1m grading 13.50 g/t from 115m. 3m grading 7.44 g/t gold from 92m, including 1m grading 17.40 g/t from 93m. 8m grading 5.86 g/t gold from 37m, including 1m grading 9.90 g/t from 41m.

• This round of RC drilling at Kat Gap was focused primarily on testing the down dip extent of previous high-grade intercepts on the main granite-greenstone contact adjacent to the crosscutting Proterozoic dyke. Drilling also focused on testing down-dip projections of recent highgrade intercepts in the newly extended northern zone. System remains open in all directions .

• High grades and shallow nature of the gold mineralised system on the granite-greenstone contact will enhance the economics of any future open pit mining operation.

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1. INTRODUCTION

WA-focused gold exploration and development company Classic Minerals Limited (ASX. CLZ) ("Classic", or "the Company") is pleased to announce that it has received assays results from its latest RC drilling program at its Forrestania Gold Project (FGP) in Western Australia. The Company completed a total of 17 holes for 1,880m at the 100% owned Kat Gap project with the aim of improving/increasing known high-grade gold mineralisation.

Drilling results from Kat Gap continued to impress with significant zones of gold mineralisation located on the granitegreenstone contact. Recent drilling at Kat Gap has shown that high-grade gold mineralisation projects very close to surface and continues down-dip with increasing width.

The Kat Gap Project is strategically located approximately 70km south-south east of the Company’s Forrestania Gold project containing the Lady Magdalene and Lady Ada gold resources. Kat Gap adjoins the Forrestania Nickel project currently operated by Western Areas Ltd.

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Figure 1: FGP tenure shown in red

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Classic CEO Dean Goodwin said:

These deeper gold intersections clearly show that Kat Gap has legs with the potential to grow significantly at depth. The further down we drill the wider the gold zones seem to be getting. This is a function of the structural setting. As the contact flattens out the fault zone opens up wider and the gold lodes thicken accordingly. I’ve seen this time and time again in the Goldfields. Only a handful of deep holes have been drilled at Kat Gap to date. We clearly need to drill more deeper holes to follow the system down.

We also ventured out into the granite to drill for the first time 400m west of the main granite-greenstone contact. Here we tested a very small section of the 4.4km long auger soil anomaly looking for primary gold within the granite. Results were very encouraging with plenty of anomalous gold below the oxide profile. I like to call this smoke and there’s plenty of smoke out in the granite. Where there’s smoke there’s generally a decent fire nearby.

The next stages for Kat Gap will be to extend the known gold mineralised zone further north and south from our current drilling area. This would entail testing the northerly extensions for another 300m and the southerly extensions for 300m. If successful that would give us a combined strike length of 1,000m. We would also probe at depth down dip along the entire 400m of gold mineralised granite-greenstone contact we have delineated to date. A few deep diamond holes to collect valuable structural data will also be incorporated into the program to probe at depth 200-300m below existing drill coverage.

Hole	Northing	Easting	From (m)	To (m)	Width (m)	Grade (g/t)
FKGRC090	6372280 764743 33 46 13 4.91 g/t Au
	Including 36 37 1 22.10 g/t Au
FGKRC091	6372275 764750 37 45 8 5.86 g/t Au
	Including 41 42 1 9.90 g/t Au
FKGRC092	6372282 764758 58 66 8 8.26 g/t Au
	Including 61 63 2 21.80 g/t Au
FKGRC093	6372295 764784 92 95 3 7.44 g/t Au
	Including 93 94 1 17.40 g/t Au
FGKRC094	6372317 764781 109 117 8 4.19 g/t Au
	Including 115 116 1 13.50 g/t Au
FKGRC095	6372331 764793 123 132 9 20.94 g/t Au
	Including 126 127 1 125.00 g/t Au

Table 1: Drill Highlights

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2. DRILLING JUST COMPLETED AT KAT GAP

Classic drilled a total of 17 holes for 1880m at Kat Gap with 12 holes drilled along the granite-greenstone contact and 5 holes drilled out into the granite 300-400m west of our current drilling area. The drilling conducted along the granite-greenstone contact has now extended the down-dip projection, adjacent to the Proterozoic dyke, to over 100m vertical below surface with mineralisation open in all directions.

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Figure 1: Kat Gap plan view showing recent and previous Classic RC drilling plus significant gold intersections.

Twelve RC holes FKGRC090 - FKGRC098 and FKGRC104 – FKGRC106 for a total of 1,360m were drilled testing the up-dip and down-dip projections of the main granite-greenstone contact lode in the vicinity of the cross-cutting Proterozoic dyke and the down-dip extent of the northern extension zone. This drilling was designed primarily to test the down-dip extent of previous high-grade intercepts where the contact flattened. It was also conducted to provide enhanced detail around gold lode structural orientation including potential plunge direction. Better results from these holes include:

• 13m @ 4.91g/t Au from 33m including 1m @ 22.10g/t Au from 36m in FKGRC090

• 8m @ 5.86 g/t Au from 37m including 1m @ 9.90 g/t Au from 41m in FKGRC091

• 8m @ 8.26 g/t Au from 58m including 2m @ 21.80 g/t Au from 61m in FKGRC092

• 3m @ 7.44 g/t Au from 92m including 1m @ 17.40 g/t Au from 93m in FKGRC093

• 8m @ 4.19 g/t Au from 109m including 1m @ 13.50 g/t Au from 115m in FKGRC094

• 9m @ 20.94 g/t Au from 123m including 1m @ 125.00 g/t Au from 126m in FKGRC095

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The deeper drilling has shown the main granite – greenstone contact continues to roll or flatten out in the down dip projection. Where the contact is steep the gold lode tends to narrow and weaken in grade. As the contact rolls to a flatter angle both the width and grade of the gold lode tends to increase (see section 92710N).

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Figure 2: Kat Gap Cross Section 92710N (local grid) Looking North

Five RC holes FKGRC099 - FKGRC103 for a total of 520m were also completed out in the granite on a single traverse crossing a portion of the large 4.4km long auger soil anomaly located 400-600m west of the main granite-greenstone contact. They were drilled on 40m spacings and orientated both in a grid east to west and grid west to east orientation. The holes intersected broad zones of anomalous gold mineralization up to 20m thick within the granite grading from 0.1-0.5g/t associated with zones of minor quartz veining, biotite and albite alteration. The best result was from FKGRC100 which returned 3m @ 1.29g/t from 96m close to the bottom of the hole. Further drilling is required to locate the source of the auger anomaly as the widths and gold grades returned from these first few holes do not explain the size and magnitude of the auger soil anomaly.

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3. PREVIOUS RC DRILLING AT KAT GAP BY CLASSIC

Classic has completed 5 separate drilling campaigns at Kat Gap prior to the most recent RC drilling program. A total of 89 holes for 5931m was completed between May 2018 and June 2019 all returning significant high-grade gold intercepts. The majority of the drilling is relatively shallow, down to approximately 60m vertical depth below surface and covered a strike length of the granite – greenstone contact of approximately 400m. The main area of drilling has been focused primarily on and adjacent to both contacts of a cross-cutting Proterozoic dyke where it intersects the main granite-greenstone contact. At this location the gold mineralisation has been significantly enriched. Better results from the first five drilling programs include:

• 8m @ 19.05 g/t Au from 32m including 4m @ 28.80 g/t Au in FKGRC008 • 12m @ 7.52 g/t Au from 39m including 2m @ 20.20 g/t Au in FKGRC006 • 12m @ 5.39 g/t Au from 30m including 1m @ 20.80 g/t Au in FKGRC012 • 10m @ 30.78 g/t Au from 28m including 2m @ 116.10 g/t Au in FKGRC018 • 10m @ 4.18 g/t Au from 26m including 1m @ 15.10 g/t Au in FKGRC022 • 9m @ 8.08 g/t Au from 95m including 1m @ 62.30 g/t Au in FKGRC025 • 3m @ 38.33 g/t Au from 21m including 1m @ 111.00 g/t Au in FKGRC039 • 5m @ 5.61 g/t Au from 6m including 1m @ 12.00 g/t Au in FKGRC040 • 3m @ 14.10 g/t Au from 10m including 1m @ 37.40 g/t Au in FKGRC042 • 3m @ 9.64 g/t Au from 20m including 1m @ 25.10 g/t Au in FKGRC043 • 10m @ 8.17 g/t Au from 7m including 1m @ 66.20 g/t Au in FKGRC059 • 7m @ 24.34 g/t Au from 24m including 1m @ 78.50 g/t Au in FKGRC060 • 9m @ 15.21 g/t Au from 22m including 1m @ 58.30 g/t Au in FKGRC061 • 7m @ 9.55 g/t Au from 89m including 1m @ 42.40 g/t Au in FKGRC063 • 3m @ 11.03 g/t Au from 50m including 1m @ 28.04 g/t Au in FKGRC082

4. FUTURE DRILLING PLANNED FOR KAT GAP

Future drilling programs at Kat Gap will focus on testing the main granite – greenstone contact further north and south along strike from the current drilling area. The next few RC drilling programs will test the northerly and southerly extensions for another 200-300m along strike. RC Drilling will also probe at depth below the current shallow holes along the entire 400m of strike delineated by Classic to date. Several deep orientated diamond holes designed to collect valuable structural data will probe the system to 300m vertical below surface.

Aircore and RC drilling programs will also be conducted out into the granite to test the large 4.4 km long geochemical anomaly identified in historical auger soil sampling. The initial program will focus around the cross-cutting Proterozoic dyke where high auger values were returned along with a dilational site located in the north-eastern most area of the geochemical anomaly.

Historical RC drilling at Kat Gap is mostly on 100m – 200m line spacings. There is strong potential for additional mineralisation to be identified up-dip, down-dip and along strike, both outside of and within the existing RC drill coverage.

Classic has planned follow up RC and diamond holes with drilling scheduled for mid-October.

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Figure 3: Kat Gap plan view showing strike length to be tested in follow up drilling

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5. ABOUT THE FORRESTANIA GOLD PROJECT

The FGP Tenements (excluding Kat Gap and Lady Lila) are registered in the name of Reed Exploration Pty Ltd, a wholly owned subsidiary of ASX listed Hannans Ltd (ASX:HNR). Classic has acquired 80% of the gold rights on the FGP Tenements from a third party, whilst Hannans has maintained its 20% interest in the gold rights. For the avoidance of doubt Classic Ltd owns a 100% interest in non-gold rights on the Kat Gap and Lady Lila Tenements including but not limited to nickel, lithium and other metals.

The FGP contains an existing Mineral Resource of 5.3 Mt at 1.39 g/t for 240,000 ounces of gold, classified and reported in accordance with the JORC Code (2012), with a recent Scoping Study (see ASX Announcement released 2nd May 2017) suggesting both the technical and financial viability of the project. The current post-mining Mineral Resource for Lady Ada, Lady Magdalene and Lady Lila is tabulated below.

Additional technical detail on the Mineral Resource estimation is provided, further in the text below and in the JORC Table 1 as attached to ASX announcements dated 14[th] March 2017 and 21[st] March 2017.

		Indicated			Inferred			Total
Prospect	Tonnes	Grade(Aug/t)	Ounces	Tonnes	Grade(Aug/t)	Ounces Au	Tonnes	Grade(au)	Ounces
Lady Ada	283,500	1.78	~~A~~ 16,200	260,000	2.2	18,750	543,500	1.99	34,950
Lady Magdalene	1,828,500	1.08	63,700	2,450,000	1.5	118,000	4,278,500	1.32	181,700
LadyLila				541,000	1.38	24,000	541,000	1.38	24,000
Sub-Total	2,112,000	1.17	79,900	3,251,000	1.53	160,750	5,363,000	1.39	240,650

Notes:

1. The Mineral Resource is classified in accordance with JORC, 2012 edition

2. The effective date of the mineral resource estimate is 31 December 2016.

3. The mineral resource is contained within FGP tenements

4. Estimates are rounded to reflect the level of confidence in these resources at the present time.

5. The mineral resource is reported at 0.5 g/t Au cut-off grade

6. Depletion of the resource from historic open pit mining has been considered

On behalf of the board,

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Dean Goodwin CEO

Forward Looking Statements

This announcement may contain certain “forward-looking statements” which may not have been based solely on historical facts, but rather may be based on the Company’s current expectations about future events and results. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have reasonable basis. However, forward looking statements are subjected to risks, uncertainties, assumptions and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to Resource risk, metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, as well as political and operational risks in the Countries and States in which we operate or sell product to, and governmental regulation and judicial outcomes. For a more detailed discussion of such risks and other factors, see the Company’s annual reports, as well as the Company’s other filings. Readers should not place undue reliance on forward looking information. The Company does not undertake any obligation to release publicly any revisions to any “forward-looking statements” to reflect events or circumstances after the date of this announcement, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

Competent Persons Statement

The information contained in this report that relates to Mineral resources and Exploration Results is based on information compiled by Dean Goodwin, a Competent Person who is a Member of the Australian Institute of Geoscientists (AIG). Mr Goodwin is a consultant exploration geologist with Reliant Resources Pty Ltd and consults to Classic Minerals Ltd. Mr. Goodwin has sufficient experience that is relevant to the style of mineralisation and the type of deposit under consideration, and to the activity being undertaken 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. Goodwin consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Classic Minerals Limited

Phone: (08) 6305 0221 Address: 71 Furniss Road, Landsdale WA 6065 Postal: PO Box 487, Osborne Park WA 6917 Website: www.classicminerals.com.au Email: contact@classicminerals.com.au

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Kat Gap Drill hole Locations

HOLE ID	Northing	Easting	RL	Dip	Azi	Depth
FKGRC090	6372280	764743	415	-60	222	60
FKGRC091	6372275	764750	415	-60	222	60
FKGRC092	6372282	764758	415	-60	222	90
FKGRC093	6372295	764784	415	-60	222	130
FKGRC094	6372317	764781	415	-60	222	130
FKGRC095	6372331	764793	415	-60	222	150
FKGRC096	6372339	764757	415	-60	222	150
FKGRC097	6372393	764670	415	-60	222	110
FKGRC098	6372405	764682	415	-60	222	130
FKGRC099	6372089	764443	415	-60	042	100
FKGRC100	6372059	764414	415	-60	042	100
FKGRC101	6372074	764429	415	-60	222	120
FKGRC102	6372103	764456	415	-60	222	100
FKGRC103	6372131	764481	415	-60	222	100
FKGRC104	6372414	764638	415	-60	222	90
FKGRC105	6372427	764649	415	-60	222	110
FKGRC106	6372324	764811	415	-60	222	150

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RC Drill Samples Grading >0.50 g/t

HoleID	N(MGA94Z50)	E(MGA94Z50)	From	To	**Sample Type **	Au_ppm
FKGRC090	6372280	764743			standard228	8.23
FKGRC090			32	33	1m sample	0.54
FKGRC090			33	34	1m sample	1.47
FKGRC090			34	35	1m sample	3.51
FKGRC090			35	36	1m sample	0.57
FKGRC090			36	37	1m sample	22.10
FKGRC090			37	38	1m sample	2.10
FKGRC090			38	39	1m sample	3.59
FKGRC090			39	40	1m sample	0.85
FKGRC090			40	41	1m sample	10.80
FKGRC090			41	42	1m sample	11.00
FKGRC090			42	43	1m sample	0.92
FKGRC090			43	44	1m sample	3.40
FKGRC090			45	46	1m sample	3.07
FKGRC090			46	47	1m sample	0.75
FKGRC090					standard 214	3.09

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FKGRC091	6372275	764750			standard 228	8.19
FKGRC091			37	38	1m sample	7.40
FKGRC091			38	39	1m sample	3.93
FKGRC091			39	40	1m sample	9.22
FKGRC091			40	41	1m sample	3.74
FKGRC091			41	42	1m sample	9.90
FKGRC091			42	43	1m sample	9.66
FKGRC091			43	44	1m sample	0.89
FKGRC091			44	45	1m sample	2.14
FKGRC091			45	46	1m sample	0.63
FKGRC091			57	58	1m sample	0.85
FKGRC092	6372282	764758	6	7	1m sample	1.11
FKGRC092			7	8	1m sample	0.53
FKGRC092					standard 228	8.52
FKGRC092					standard 214	3.00
FKGRC092			58	59	1m sample	6.94
FKGRC092			59	60	1m sample	6.63
FKGRC092			60	61	1m sample	0.78
FKGRC092			61	62	1m sample	30.10
FKGRC092			62	63	1m sample	13.50
FKGRC092			63	64	1m sample	4.52
FKGRC092			64	65	1m sample	2.32
FKGRC092			65	66	1m sample	1.29
FKGRC092					standard 218	8.32

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FKGRC092			88	89	1m sample	1.05
FKGRC092			89	90	1m sample	0.65
FKGRC093	6372295	764784			standard 228	8.21
FKGRC093					standard 214	3.10
FKGRC093			91	92	1m sample	0.64
FKGRC093			92	93	1m sample	3.62
FKGRC093			93	94	1m sample	17.40
FKGRC093			94	95	1m sample	1.31
FKGRC093					standard 218	0.54
FKGRC094	6372317	764781			standard 228	8.61
FKGRC094					standard 214	3.01
FKGRC094					standard 218	0.52
FKGRC094			100	101	1m sample	1.53
FKGRC094			106	107	1m sample	2.53
FKGRC094			109	110	1m sample	3.02
FKGRC094			110	111	1m sample	10.30
FKGRC094			112	113	1m sample	0.50
FKGRC094			113	114	1m sample	2.19
FKGRC094			114	115	1m sample	1.84
FKGRC094			115	116	1m sample	13.50
FKGRC094			116	117	1m sample	1.93
FKGRC094			121	122	1m sample	0.55

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FKGRC095	6372331	764793			standard 228	8.52
FKGRC095					standard 214	2.98
FKGRC095					standard 218	0.52
FKGRC095			116	117	1m sample	0.53
FKGRC095			123	124	1m sample	0.73
FKGRC095			124	125	1m sample	0.84
FKGRC095			125	126	1m sample	8.39
FKGRC095					standard 228	8.76
FKGRC095			126	127	1m sample	125.00
FKGRC095			127	128	1m sample	40.70
FKGRC095			128	129	1m sample	6.74
FKGRC095			129	130	1m sample	2.33
FKGRC095			130	131	1m sample	1.43
FKGRC095			131	132	1m sample	2.32
FKGRC096	6372339	764757			standard 214	2.96
FKGRC096					standard 218	0.52
FKGRC096					standard 228	8.63
FKGRC096			102	103	1m sample	4.71
FKGRC096			104	105	1m sample	2.33
FKGRC096			105	106	1m sample	0.97
FKGRC096			109	110	1m sample	3.37
FKGRC096					standard 214	2.95

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FKGRC097	6372393	764670			standard 218	3.05
FKGRC097			21	22	1m sample	1.79
FKGRC097			22	23	1m sample	0.57
FKGRC097			47	48	1m sample	0.61
FKGRC097					standard 228	0.51
FKGRC097					standard 214	8.85
FKGRC098	6372405	764682			standard 218	0.53
FKGRC098					standard 218	0.53
FKGRC098					standard 228	8.75
FKGRC098			99	100	1m sample	0.98
FKGRC098			102	103	1m sample	0.53
FKGRC098			104	105	1m sample	1.04
FKGRC098					standard 214	3.20
FKGRC099	6372089	764443			standard 228	8.58
FKGRC099					standard 214	3.05
FKGRC099			73	74	1m sample	1.79
FKGRC099			74	75	1m sample	0.57
FKGRC099			99	100	1m sample	0.61

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FKGRC100	6372059	764414			standard 218	0.51
FKGRC100					standard 228	8.85
FKGRC100			82	83	1m sample	1.21
FKGRC100					standard 214	2.97
FKGRC100			96	97	1m sample	1.07
FKGRC100			97	98	1m sample	2.35
FKGRC101	6372074	764429	0	1	1m sample	0.83
FKGRC101					standard 218	0.51
FKGRC101					standard 228	8.70
FKGRC101					standard 214	3.12
FKGRC102	6372103	764456	56	57	1m sample	0.70
FKGRC102					standard 218	0.55
FKGRC103	6372131	764481	0	1	1m sample	0.91
FKGRC103					standard 228	8.78
FKGRC103					standard 214	3.00
FKGRC103			79	80	1m sample	0.65
FKGRC103					standard 218	0.54

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FKGRC104	6372414	764638			standard 228	8.67
FKGRC104					standard 214	3.08
FKGRC104			72	73	1m sample	3.60
FKGRC104			73	74	1m sample	0.63
FKGRC104			75	76	1m sample	0.52
FKGRC104			76	77	1m sample	1.09
FKGRC104			78	79	1m sample	2.42
FKGRC105	6372427	764649			standard 218	0.54
FKGRC105					standard 228	8.54
FKGRC105					standard 214	3.07
FKGRC105			91	92	1m sample	0.80
FKGRC105			92	93	1m sample	0.65
FKGRC105			100	101	1m sample	0.51
FKGRC106	6372324	764811			standard 218	0.64
FKGRC106					standard 228	8.71
FKGRC106					standard 214	3.03
FKGRC106			119	120	1m sample	0.56
FKGRC106			126	127	1m sample	3.44
FKGRC106			127	128	1m sample	1.06
FKGRC106			132	133	1m sample	6.90
FKGRC106					standard 218	0.54

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Appendix 1: JORC (2012) Table1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (eg 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. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g 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 (eg submarine nodules) may warrant disclosure of detailed information.	• The samples were taken by a RC face sampling hammer drill. All RC holes were sampled at one-metre intervals. • Care was taken to control metre delineation, and loss of fines. • The determination of mineralisation was done via industry standard methods, including RC drilling, followed by splitting, crushing and fire assaying
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).	• All drilling was completed using reverse circulation method, using a Hydco 350 model rig and 6m Remet Harlsen 4 ½ inch rods. The rig mounted Airtruck has 1150 cfm 500 psi auxiliary couples with a hurricane 7t Booster 2400 cfm /1000 psi booster. The bit size was 5 5/8,
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples.	• Recoveries from the drilling are not known, as sample weights were not recorded at this stage of exploration,but visual inspection of

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	• 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.	samples in the field indicate that recoveries were sufficient. • The shroud tolerance was monitored, and metre delineation was kept in check. Loss of fines was controlled through mist injection. • It is not clear whether a relationship between recovery and grade occurs as recovery data was not collected (e.g. bagweights).
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. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged.	• Core and chips were logged to a level of detail to support the Mineral Resource estimation. • Logging was qualitative in nature. • All intersections were logged
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. • 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. • Whether sample sizes are appropriate to the grain size of the material being sampled.	• The nature and quality of the sampling suits the purpose, being exploration. The laboratory preparation is standard practice and has not been further refined to match the ore. • QC in the lab prep stage was limited to taking pulp duplicates (e.g. no coarse crush duplicates were submitted) • The sample split sizes (4-5 kg are regarded as more than adequate for the nature and type of material sampled.
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. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	• Standard 50g fire assays with an AAS finish were used to get assay results. This is a total technique, and considered appropriate for this level of exploration. • Quality control was carried out by inserting blanks and standards into the sampling chain and 5% intervals. These all showed acceptable levels of accuracy and precision.

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Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	• Significant intersections have not been validated by independent or alternative personnel. • No twin holes were included in this programme, as it is not relevant to the stage of exploration and purpose of this drilling. • All primary data was collected on spread sheets which have been validated for errors and included into an Access database. • Assaydata has not been adjusted
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. • Specification of the grid system used. • Quality and adequacy of topographic control.	• Drill hole locations were determined by GPS in the field in UTM zone 50. • Topographic control is available through a detailed satellite-derived DTM.
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • 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. • Whether sample compositing has been applied.	• Holes were not drilled on a pattern and there was no specific drill hole spacing. In general holes are drilled within 40m from previous intersections. • The data spacing is considered sufficient to demonstrate geological and grade continuity for estimation procedures. • Samples were not composited.
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • 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.	• The orientation of sampling has achieved unbiased sampling of structures, with drilling perpendicular to the dip and strike of the mineralised zones • The relationship between the drilling orientation and the orientation of key mineralised structures is not considered to have introduced a samplingbias.
Sample security	• The measures taken to ensure sample security.	• Samples were immediately dispatched to the laboratory and have at all times been in possession of CLM or its designated contractors. Chain of custody was maintained throughout.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data	• No audits of any of the data have been carried out.

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Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	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. • 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 FGP Tenements (containing the Van Uden West prospect) are registered in the name of Reed Exploration Pty Ltd, which is a wholly owned subsidiary of ASX-listed Hannans Ltd (ASX code: HNR). Classic has acquired 80% of the gold rights only, with the remaining 20% of the gold rights held free-carried by Hannans Ltd until a decision to mine. Hannans Ltd also holds all of the non- gold rights on the FGP tenements including but not limited to nickel, lithium and other metals • The acquisition includes 80% of the gold rights (other mineral rights retained by tenement holder) in the following granted tenements: E77/2207; E77/2219; E77/2239; P77/4290; P77/4291; E77/2303; E77/2220. • Lady Lila is situated upon 100% owned CLZ tenements P77/4325 and P77/4326 (details in announcement dated 21 March 2017) • Kat Gap is situated upon E74/467, held by Sulphide Resources Pty Ltd. CLZ acquired 100% of these tenements in January 2019 (details in announcement dated 9th Jan 2019)
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• All exploration was carried out by previous owners of the tenements (Aztec Mining, Forrestania Gold NL, Viceroy Australia, Sons of Gwalia, Sulphide Resources PtyLtd)
Geology	• Deposit type, geological setting and style of mineralisation.	• The deposit is an Archean shear-zone hosted gold deposit. • Geological interpretation indicates that the general stratigraphy consists of metasediments, BIF’s and cherts to the east of the tenement, overlying an older sequence of metamorphosed komatiitic and high-magnesian basalts to the west. Black shales/pelites occur as small interbedded units throughout the stratigraphy, which dips gently to the east (10-35°) and strikes N-S,bendingin a NNW

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==> picture [299 x 661] intentionally omitted <==

• direction in the far north of the tenement.

• An Archaean-aged quartz dolerite unit (informally the ‘Wattle Rocks Dolerite’) is emplaced along a contact between high-MgO basalt to the west and low-MgO ultramafic to the east, in the western part of the tenement and is the host rock for the Lady Ada (and Lady Magdalene) mineralisation. Strongly magnetic Proterozoic dolerite dykes cross-cut the stratigraphy in an east-west direction, splaying to the ENE, following fault directions interpreted from the aeromagnetics. A number of narrow shear zones lie subparallel to the shallow-dipping metasediment-mafic contact within the host stratigraphy and are important sites and conduits for the observed mineralisation. The Sapphire shear zone strikes approximately ENE, dipping to the SE at about 25°, and appears to crosscut all lithologies. This shear zone and associated shears host the bulk of the gold mineralisation at Wattle Rocks. Similar flat-dipping shears are known to crosscut the Lady Magdalene area. Approximately 8-12 metres of transported sands and a gold depleted weathering profile of saprolitic clays overly the Lady Ada and Lady Magdalene mineralisation.

• • Structurally, the Wattle Rocks area is quite complex and is positioned near the intersection of several major breakages and flexures in the regional stratigraphy in this part of the Forrestania Greenstone belt. Numerous shear zones are evident throughout the area, particularly at changes of rock stratigraphy where there are rheological differences. Narrow, stacked, flat-dipping shear zones are evident within the quartz dolerite unit and may have resulted from thrusting of the younger sedimentary sequence over the mafic package from east to west. A similar model is predicted for Van Uden (10 km northwards) where mineralised quartz veins appear to ‘stack’ through a host ferruginous metasediment.

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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. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	• This information is provided in attached tables
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. • 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. • The assumptions used for any reporting of metal equivalent values should be clearly stated.	• High grades were not cut in the reporting of weighted averages in this Report. • Summary drill hole results as reported in figures and in the appendix 2 to this Report are reported on a 1m internal dilution and 0.5 g/t Au cut-off.
Relationship between mineralisation widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • 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’).	• In almost all cases, the drill holes are perpendicular to the mineralisation. The true width is not expected to deviate much from intersection width.
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.	• Appropriate images have been provided in the Report.
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	• Figures represent specific selected drill intervals to demonstrate the general trend of high-grade trends. Cross sections show all relevant result in a balanced way.

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	avoid misleading reporting of Exploration Results.
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 relevant data is reported
Further work	• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commerciallysensitive.	• Further RC drilling is being considered. • Figures clearly demonstrate the areas of possible extensions

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