CLASSIC MINERALS LTD — Capital/Financing Update 2020

Jul 8, 2020

ASX Announcement

9 July 2020

NEW HIGH-GRADE GOLD LODE INTERSECTED WEST OF MAIN CONTACT ZONE AT KAT GAP.

Highlights:

• Very high-grade gold intersected in a new granite hosted footwall position west of the main contact lodes at Kat Gap. FKGRC184 returns 4 metres grading 76.72 grams per tonne gold from 79 metres including 1 metre grading 304 grams per tonne gold from 82 metres. No historical or Classic RC drilling conducted around this drill hole.

• This new high-grade zone is located west out into the granite. Further deeper drilling will be conducted by Classic to determine extent and significance of this new potential footwall gold lode.

• Infill RC drilling conducted north of the Proterozoic dyke covering approximately 100m of strike in readiness for future open pit optimisation work.

• Better results from the most recent drilling include:

• 4 metres grading 76.72 grams per tonne gold from 79 metres

• 9 metres grading 8.69 grams per tonne gold from 14 metres

• 3 metres grading 10.97 grams per tonne gold from 50 metres

• 3 metre grading 7.48 grams per tonne gold from 57 metres

• 3 metres grading 7.28 grams per tonne gold from 49 metres

• 5 metres grading 4.76 grams per tonne gold from 61 metres

• 7 metres grading 3.79 grams per tonne gold from 62 metres

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ASX Announcement

9 July 2020

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 most recent RC drilling program at its Forrestania Gold Project (FGP) in Western Australia. The Company completed a total of 21 holes for 1,304m at the Kat Gap project which is a continuation of the infill and extensional drilling program interrupted by the onset of COVID-19.

RC drilling at Kat Gap continued to deliver significant zones of gold mineralisation located on the granitegreenstone contact. Recent drilling at Kat Gap also showed that very high-grade gold occurs west of the main granite – greenstone contact lodes well out into the granite. Kat Gap is strategically located approximately 70km south-south east of the Company’s Forrestania Gold project containing the Lady Magdalene and Lady Ada gold resources.

==> picture [290 x 428] intentionally omitted <==

Figure 1: Kat Gap tenements

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9 July 2020

Classic CEO Dean Goodwin said:

This new very high-grade intersection out into the granite is an exciting development for the Kat Gap Project. We decided to extend some of our planned drill holes west of our current drill pattern to see if further gold lodes were lurking out in the granite. We were right. Now we just have to work out what orientation this new lode is running at. We had a feeling something was out there as we had a handful of old historical drill holes along strike that had a few lower grade sniffs out in the granite. This new intersection really bodes well for our future drilling programs that will be conducted out in the granite following up the historical auger geochemical anomalies.

We also started a program of infill drilling north of the Proterozoic dyke in readiness for future open pit optimisation studies. Existing RC drilling is a little far apart to get meaningful data, so we need to infill drill for about 400m of strike . These new results are only the start of that extensive program with many more results to come over the next few months.

We will also be conducting extensional RC drilling to the north and south of our current drill pattern. This should hopefully see the deposit grow another 200m or so.

Hole	Northing	Easting	From (m)	To (m)	Width (m)	Grade (g/t)
FKGRC176	6372351 764686 57 60 3 7.48 g/t Au
	Including 59 60 1 10.70 g/t Au
FKGRC180	6372300 764693 62 69 7 3.79 g/t Au
	Including 68 69 1 14.70 g/t Au
FKGRC181	6372304 764699 72 73 1 11.20 g/t Au
FKGRC184	6372301 764713 79 83 4 76.72 g/t Au
	Including 82 83 1 304.00 g/t Au
FGKRC186	6372289 764709 14 23 9 8.69 g/t Au
	Including 18 19 1 21.80 g/t Au
FKGRC191	6372289 764733 49 52 3 7.28 g/t Au
	Including 49 50 1 14.90 g/t Au
FKGRC195	6372270 764745 50 53 3 10.97 g/t Au
	including 51 52 1 30.00 g/t Au

Table 1: Drill Highlights

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ASX Announcement

9 July 2020

2. DRILLING COMPLETED AT KAT GAP

Classic drilled a total of 21 RC holes for 1,304m at Kat Gap and is pleased to confirm that most holes returned gold mineralisation striking in a northwest-southeast direction. The infill drilling has confirmed continuity of mineralised zones within the current inferred resource model north of the Proterozoic dyke. Mineralisation remains open in all directions.

This round of RC drilling is a continuation of the infill and extensional RC drilling program undertaken prior to the onset of COVID 19. Drilling was primarily focused on testing the main granite-greenstone contact up to 100m north of the Proterozoic dyke.

The drilling also encompassed extending several RC holes at depth to test an area west of our current drilling pattern for high grade gold out in the granite.

Drill hole FKGRC184 extended further out into the granite than the rest of the RC holes some 30-35m from the main contact lodes west of Classic’s existing drilling. Very high-grade gold was intersected near the end of the hole comprising smokey grey quartz veining and biotite alteration. The interval contained abundant visible gold together with disseminated pyrite and molybdenite (see figure 2.0). Further drilling is required at depth and along strike from this newly discovered zone. Best result from this hole was:

• 4m @ 76.72g/t Au from 79m including 1m @ 304g/t Au from 82m.

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9 July 2020

==> picture [299 x 620] intentionally omitted <==

Figure 2: Visible gold in panning dish from hole FKGRC184 at 82-83m grading 304 g/t Au.

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Twenty-one RC holes were drilled within an area north of the Proterozoic dyke infilling areas previously drilled on 10m and 20m spaced sections. These holes were completed to aid in future open pit optimisation studies.

Better results from these holes include:

• 3m @ 7.48g/t Au from 57m including 1m @ 10.70g/t Au from 59m in FKGRC176

• 7m @ 3.79g/t Au from 62m including 1m @ 14.70g/t Au from 68m in FKGRC180

• • 1m @ 11.20g/t Au from 72m in FKGRC181

• 9m @ 8.69g/t Au from 14m including 1m @ 21.80g/t Au from 18m in FKGRC186

• 6m @ 2.50g/t Au from 12m in FKGRC188

• 8m @ 2.06g/t Ay from 23m in FKGRC189

• 3m @ 7.28g/t Au from 49m including 1m @ 14.90g/t Au from 49m in FKGRC191

• 5m @ 4.76g/t Au from 61m in FKGRC192

• 3m @ 10.97g/t Au from 50m including 1m @ 30.00g/t Au from 51m in FKGRC195

==> picture [293 x 390] intentionally omitted <==

Figure 3: JUNE 2020 Drilling – Kat Gap

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ASX Announcement

9 July 2020

3. PREVIOUS RC DRILLING AT KAT GAP BY CLASSIC

Classic has completed 10 separate drilling campaigns at Kat Gap prior to the most recent RC drilling program. A total of 174 holes for 13,074m was completed between M ay 2018 and March 2020 all returning significant high-grade gold intercepts. The majority of the drilling is relatively shallow, down to approximately 70m vertical depth below surface and covered a strike length of the granite – greenstone contact of approximately 500m. 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 nine drilling programs include:

					See legend
					below
•	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	****
•	13m @ 4.91 g/t Au	from 33m	including 1m @ 22.00 g/t Au	in FKGRC090	*
•	8m @ 8.26 g/t Au	from 58m	including 1m @ 21.80 g/t Au	in FKGRC092	*
•	9m @ 20.94 g/t Au	from 123m	including 1m @ 125.00 g/t Au	in FKGRC095	*
•	3m @ 20.70 g/t Au	from 39m	including 1m @ 37.40 g/t Au	in FKGRC113	**
•	6m @ 4.84 g/t Au	from 59m	including 1m @ 17.50 g/t Au	in FKGRC114	**
•	4m @ 5.85 g/t Au	from 18m	including 1m @ 13.40 g/t Au	in FKGRC120	**
•	3m @ 13.18 g/t Au	from 143m	including 1m @ 27.80 g/t Au	in FKGRC133	**
•	6m @ 11.54 g/t Au	from 20m	including 2m @ 25.95 g/t Au	in FKGRC139	**
•	8m @ 7.91 g/t Au	from 60m	including 4m @ 13.56 g/t Au	in FKGRC145	# # #
•	3m @ 62.10 g/t Au	from 36m	including 1m @ 181.00 g/t Au	in FKGRC157	*

Legend fortable above.	Legend fortable above.	Legend fortable above.	Legend fortable above.
Ref	Date oforiginal ASX Announcement	Ref	Date oforiginal ASX Announcement
*	12/06/2018	****	30/07/2019
**	24/07/2018	****	30/07/2019
**	24/07/2018	****	30/07/2019
**	24/07/2018	****	30/07/2019
**	24/07/2018	*	04/09/2019
**	24/07/2018	*	04/09/2019
***	08/10/2018	**	10/12/2019
***	08/10/2018	*	28/01/2020
***	08/10/2018	*	28/01/2020
##	12/12/2018	**	30/03/2020
# # #	27/02/2020	**	30/03/2020
The Company confirms that it is not aware of any new information or data that materially affects the information included in the initial announcements as referenced in the table above.

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ASX Announcement

9 July 2020

4. FUTURE DRILLING PLANNED FOR KAT GAP

The next few rounds of RC drilling at Kat Gap will focus mainly on infill testing the main granite – greenstone contact north of the Proterozoic dyke for a strike length of some 400m. This work will assist engineers in conducting more accurate open pit optimization studies prior to future mining operations.

Further RC drilling will also test the northerly and southerly extensions for another 100-200m along strike. RC Drilling will also test the extent of the recently discovered supergene horizon south of the Proterozoic dyke out in the granite. Further drilling will be conducted to determine the source of this new supergene zone.

RC drilling programs will also be carried out in the granite to test the large 5 km long geochemical anomaly identified in previous 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 historical RC drill coverage.

Classic is continuing its follow up RC drilling campaign.

==> picture [433 x 293] intentionally omitted <==

Figure 4: Kat Gap plan view showing strike length to be tested in follow up drilling

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9 July 2020

5. ABOUT THE FORRESTANIA GOLD PROJECT (FGP)

The FGP Tenements (excluding Kat Gap) 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 the gold rights on the Kat Gap Tenements and also non-gold rights including but not limited to nickel, lithium and other metals.

Classic has a Global Mineral Resource of 8.24 Mt at 1.52 g/t for 403,906 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 Kat Gap 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 18[th] December 2019, 21[st] January 2020, and 20 April 2020.

		Indicated			Inferred			Total
Prospect	Ton nes	Grade (Au g/t)	Ounces Au	Tonnes	Grade (Au g/t)	Ounces Au	Tonnes	Grade (au)	Ounces
Lady Ada	257	2.01	16,600	1,090,800	1.23	43,100	1,348,100	1.38	59,700
Lady Magdalene				5,922,700	1.32	251,350	5,922,700	1.32	251,350
Kat Gap				975,722	2.96	92,856	975,722	2.96	92,856
Total	257	2.01	16,600	7,989,222	1.50	387,306	8,246,522	1.52	403,906

Notes:

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

2. The effective date of the mineral resource estimate is 20 April 2020.

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,

==> picture [74 x 51] intentionally omitted <==

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 1318, Wangara DC WA 6947 Website: www.classicminerals.com.au Email: contact@classicminerals.com.au

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9 July 2020

Kat Gap Drill Hole Locations

Hole_ID	Northing	Easting	RL	Dip	Azi	Depth
FKGRC175	6372326	764662	390	-60	222	60
FKGRC176	6372351	764686	390	-60	222	80
FKGRC177	6372317	764685	390	-60	222	79
FKGRC178	6372323	764690	390	-60	222	80
FKGRC179	6372332	764716	390	-60	222	85
FKGRC180	6372300	764693	390	-60	222	70
FKGRC181	6372304	764699	390	-60	222	80
FKGRC182	6372283	764689	390	-60	222	49
FKGRC183	6372291	764696	390	-60	222	55
FKGRC184	6372301	764713	390	-60	222	83
FKGRC185	6372281	764703	390	-60	222	31
FKGRC186	6372289	764709	390	-60	222	31
FKGRC187	6372297	764716	390	-60	222	55
FKGRC188	6372283	764715	390	-60	222	49
FKGRC189	6372287	764719	390	-60	222	61
FKGRC190	6372294	764725	390	-60	222	67
FKGRC191	6372289	764733	390	-60	222	85
FKGRC192	6372300	764747	390	-60	222	76
FKGRC193	6372268	764730	390	-60	222	37
FKGRC194	6372261	764737	390	-60	222	37
FKGRC195	6372270	764745	390	-60	222	55

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Drill Samples Grading >0.50 g/t

Sample No	HoleID	N (MGA94Z50)	E (MGA94Z50)	From	To	Sample Type	Au_ppm
464376	FKGRC175	6372326	764662	34	35	1m samples	0.53
464381	FKGRC175			38	39	1m samples	1.85
464386	FKGRC175			43	44	1m samples	1.73
464387	FKGRC175			44	45	1m samples	4.12
464388	FKGRC175			45	46	1m samples	0.74
464391	FKGRC175			47	48	1m samples	0.72
464394	FKGRC175			50	51	1m samples	1.51
464402	FKGRC175			58	59	1m samples	0.55
464390	FKGRC175					standard	2.56
464340	FKGRC175					standard -218	0.53
464433	FKGRC176	6372351	764686	27	28	1m samples	0.56
464446	FKGRC176			39	40	1m samples	0.53
464451	FKGRC176			44	45	1m samples	1.20
464464	FKGRC176			57	58	1m samples	3.32
464465	FKGRC176			57	58	dupliacte	0.95
464466	FKGRC176			58	59	1m samples	8.41
464467	FKGRC176			59	60	1m samples	10.70
464479	FKGRC176			71	72	1m samples	0.83
464440	FKGRC176					standard-218	0.54
464525	FKGRC177	6372317	764685	33	34	duplicate	0.64
464526	FKGRC177			34	35	1m samples	0.65
464527	FKGRC177			35	36	1m samples	2.27
464528	FKGRC177			36	37	1m samples	5.14
464530	FKGRC177			38	39	1m samples	3.72
464532	FKGRC177			40	41	1m samples	2.34
464549	FKGRC177			56	57	1m samples	0.81
464551	FKGRC177			57	58	1m samples	0.64
464490	FKGRC177					standard-254	2.55
464550	FKGRC177					standard-254	2.53
464500	FKGRC177					standard-254	0.51

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464621	FKGRC178	6372323	764690	49	50	1m samples	1.00
464623	FKGRC178			51	52	1m samples	0.53
464625	FKGRC178			52	53	duplicate	1.18
464624	FKGRC178			52	53	1m samples	0.58
464627	FKGRC178			54	55	1m samples	1.02
464654	FKGRC178			79	80	1m samples	1.92
464650	FKGRC178					standard-254	2.59
464600	FKGRC178					standard-218	0.51
464717	FKGRC179	6372332	764716	59	60	1m samples	0.85
464730	FKGRC179			71	72	1m samples	2.68
464734	FKGRC179			75	76	1m samples	0.50
464700	FKGRC179					standard-218	0.52
464765	FKGRC180	6372300	764693	19	20	1m samples	1.64
464766	FKGRC180			20	21	1m samples	0.53
464767	FKGRC180			21	22	1m samples	1.87
464772	FKGRC180			26	27	1m samples	1.20
464788	FKGRC180			41	42	1m samples	0.83
464795	FKGRC180			47	48	1m samples	1.69
464801	FKGRC180			52	53	1m samples	0.87
464803	FKGRC180			54	55	1m samples	0.81
464811	FKGRC180			62	63	1m samples	10.10
464815	FKGRC180			66	67	1m samples	0.53
464817	FKGRC180			68	69	1m samples	14.70
464750	FKGRC180					standard-254	2.55
464800	FKGRC180					standard-254	0.52
464851	FKGRC181	6372304	764699	29	30	1m samples	2.84
464858	FKGRC181			36	37	1m samples	1.29
464885	FKGRC181			62	63	1m samples	2.92
464893	FKGRC181			69	70	1m samples	2.35
464896	FKGRC181			72	73	1m samples	11.20
464850	FKGRC181					standard-254	2.54
464900	FKGRC181					standard-218	0.52
464950	FKGRC182	6372283	764689			standard-254	2.50

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464958	FKGRC183	6372291	764696	1	2	1m samples	0.96
464967	FKGRC183			10	11	1m samples	0.86
464970	FKGRC183			13	14	1m samples	1.43
464972	FKGRC183			15	16	1m samples	0.57
465006	FKGRC183			46	47	1m samples	1.12
465007	FKGRC183			47	48	1m samples	0.70
465000	FKGRC183					standard-218	0.52
465047	FKGRC184	6372301	764713	30	31	1m samples	0.72
465048	FKGRC184			31	32	1m samples	2.22
465054	FKGRC184			36	37	1m samples	0.86
465064	FKGRC184			46	47	1m samples	1.37
465075	FKGRC184			56	57	duplicate	0.52
465079	FKGRC184			60	61	1m samples	2.62
465099	FKGRC184			79	80	1m samples	2.19
465103	FKGRC184			82	83	1m samples	304.00
465050	FKGRC184					standard-254	2.57
465100	FKGRC184					standard-218	0.51
465104	FKGRC185	6372281	764703	0	1	1m samples	0.69
465109	FKGRC185			5	6	1m samples	0.87
465110	FKGRC185			6	7	1m samples	0.57
465145	FKGRC186	6372289	764709	8	9	1m samples	0.71
465149	FKGRC186			12	13	1m samples	0.69
465152	FKGRC186			14	15	1m samples	1.15
465153	FKGRC186			15	16	1m samples	18.60
465154	FKGRC186			16	17	1m samples	5.71
465155	FKGRC186			17	18	1m samples	16.70
465156	FKGRC186			18	19	1m samples	21.80
465157	FKGRC186			19	20	1m samples	9.03
465160	FKGRC186			22	23	1m samples	4.65
465150	FKGRC186					standard-254	2.58
465198	FKGRC187	6372297	764716	27	28	1m samples	0.66
465204	FKGRC187			32	33	1m samples	2.19
465205	FKGRC187			33	34	1m samples	0.80
465206	FKGRC187			34	35	1m samples	1.01
465200	FKGRC187					standard-218	0.54

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465237	FKGRC188	6372283	764715	9	10	1m samples	1.06
465241	FKGRC188			12	13	1m samples	2.49
465242	FKGRC188			13	14	1m samples	2.85
465243	FKGRC188			14	15	1m samples	4.84
465244	FKGRC188			15	16	1m samples	2.79
465245	FKGRC188			16	17	1m samples	0.90
465246	FKGRC188			17	18	1m samples	1.15
465254	FKGRC188			24	25	1m samples	0.73
465255	FKGRC188			25	26	1m samples	0.54
465257	FKGRC188			27	28	1m samples	0.57
465250	FKGRC188					standard-254	2.58
465305	FKGRC189	6372287	764719	23	24	1m samples	5.08
465310	FKGRC189			28	29	1m samples	3.26
465311	FKGRC189			29	30	1m samples	4.31
465312	FKGRC189			30	31	1m samples	3.05
465343	FKGRC189			59	60	1m samples	1.94
465300	FKGRC189					standard-218	0.52
465380	FKGRC190	6372294	764725	33	34	1m samples	2.77
465381	FKGRC190			34	35	1m samples	2.48
465382	FKGRC190			35	36	1m samples	1.86
465388	FKGRC190			41	42	1m samples	4.16
465389	FKGRC190			42	43	1m samples	5.53
465393	FKGRC190			45	46	1m samples	0.57
465399	FKGRC190			51	52	1m samples	9.43
465350	FKGRC190					standard-254	2.55
465400	FKGRC190					standard-218	0.52
465456	FKGRC191	6372289	764733	37	38	1m samples	0.59
465457	FKGRC191			38	39	1m samples	2.01
465458	FKGRC191			39	40	1m samples	9.32
465459	FKGRC191			40	41	1m samples	0.51
465467	FKGRC191			48	49	1m samples	0.54
465468	FKGRC191			49	50	1m samples	14.90
465469	FKGRC191			50	51	1m samples	5.75
465470	FKGRC191			51	52	1m samples	1.19
465471	FKGRC191			52	53	1m samples	0.61
465450	FKGRC191					standard-254	2.53
465500	FKGRC191					standard-218	0.53

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465543	FKGRC192	6372300	764747	34	35	1m samples	1.41
465566	FKGRC192			56	57	1m samples	0.90
465571	FKGRC192			61	62	1m samples	5.04
465572	FKGRC192			62	63	1m samples	9.06
465573	FKGRC192			63	64	1m samples	1.18
465575	FKGRC192			64	65	duplicate	2.43
465574	FKGRC192			64	65	1m samples	1.68
465576	FKGRC192			65	66	1m samples	6.08
465550	FKGRC192					standard-254	2.49
465612	FKGRC193	6372268	764730	23	24	1m samples	0.64
465620	FKGRC193			31	32	1m samples	0.98
465600	FKGRC193					standard-218	0.53
465664	FKGRC194	6372261	764737	35	36	1m samples	0.76
465665	FKGRC194			36	37	1m samples	0.80
465650	FKGRC194					standard-254	2.50
465688	FKGRC195	6372270	764745	21	22	1m samples	0.73
465693	FKGRC195			25	26	1m samples	0.64
465719	FKGRC195			50	51	1m samples	2.01
465720	FKGRC195			51	52	1m samples	30.00
465721	FKGRC195			52	53	1m samples	0.91
465700	FKGRC195					standard-218	0.50

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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 and diamond core, using a multipurpose Hydco 450 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. Core size was NQ and HQ using standard tube.
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. • 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.	• Recoveries from the drilling are not known, as sample weights were not recorded at this stage of exploration, but visual inspection of 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).

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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. • Diamond core was cut and half core sent for analysis.
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.
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

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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 50m 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.

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-

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		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 a 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, bending in a NNW 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

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		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.
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	• This information is provided in attached tables

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	understanding of the report, the Competent Person should clearlyexplain whythis is the case.
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 clearlystated.	• 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 2m internal dilution and 0.5 g/t Au cuto-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 avoid misleadingreportingof Exploration Results.	• 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.
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 contaminatingsubstances.	• 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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