CLASSIC MINERALS LTD — Capital/Financing Update 2024

Jul 10, 2024

C LASSIC MINERALS LIMITED 71 Furniss Rd, Landsdale Western Australia 6065 ASX: CLZ | ABN 77 119 484 016 contact@classicminerals.com.au

==> picture [34 x 842] intentionally omitted <==

11 July 2024

ASX Announcement

EXTENSION OF INVITATION TO PARTICIPATE IN CLASSIC MINERALS SHARE PURCHASE PLAN

PERTH, AUSTRALIA – July 07, 2024 - Classic Minerals Ltd (ASX: CLZ) (“ Classic ”, or the “ Company ” refers to its non-renounceable pro-rata rights issue of 1 new share for every shares held at an issue price of $0.004 per new share, with 1 bonus option for every 2 shares subscribed for, exercisable at $0.02 (two cents) on or before 30 June 2027 – to raise approximately $ 2.0 million ( Offer ). The Company announces an extension to the closing date of its Offer to 5.00pm (WST) on Wednesday 7 August 2024.

If you have not received your application form please contact the Company directly and we can arrange for the form to be emailed to you.

As a reminder, Eligible Shareholders who take up their full entitlement may also apply for additional new shares under the shortfall facility. Further information about how to apply for the additional entitlement is set out in section 2 of the Offer booklet.

The Company hereby advises that the indicative timetable set out in the Offer booklet is replaced with the timetable set out below.

Monday, 3 June 2024	Announcement of offer and lodgement of prospectus with ASIC
	and ASX
Friday, 7 June 2024	Record date
Wednesday, 12 June 2024	Offer opens
Wednesday, 7 August 2024	Closing date
Thursday, 8 August 2024	Shares quoted on a deferred settlement basis
Wednesday, 14 August 2024	Classic notifies ASX of under-subscriptions
Wednesday, 14 August 2024	Issue date / new shares entered into shareholders’ security
	holdings
Thursday, 15 August 2024	Quotation of new shares issued under the offer

About Classic Minerals Ltd

Expanding its focus from exploration to mining, West Australian-based, minerals house Classic Minerals Ltd holds a pipeline of projects and continues to examine new opportunities both cyclic and counter-cyclic. Currently, ASX-listed Classic holds approximately 578 km[2] of tenements across two major regional

==> picture [595 x 64] intentionally omitted <==

C LASSIC MINERALS LIMITED 71 Furniss Rd, Landsdale Western Australia 6065 ASX: CLZ | ABN 77 119 484 016 contact@classicminerals.com.au

==> picture [32 x 842] intentionally omitted <==

exploration areas in minerals-rich West Australia. Classic’s ground is in areas with identified high grade gold and base metal targets. Classic’s flagship Kat Gap Gold Project has been the recent focus of its exploration, mining and processing efforts and is strategically located some 170 km south of Southern Cross and some 50 km south of the Company’s Forrestania Gold Project. With strong grades and near-surface mineralisation Kat Gap is soon to attain full scale production.

This announcement has been approved by the Board. ENDS:

ABOUT THE FORRESTANIA GOLD PROJECT

The FGP Tenements (excluding Kat Gap) are registered in the name of Reed Exploration Pty Ltd, a wholly owned subsidiary of ASX listed Redivium Ltd (ASX: RIL), previously Hannans Ltd. Classic held 80% of the gold rights on the FGP Tenements via a third party, whilst Redivium maintained its 20% interest in the gold rights. Classic is in the process of purchasing the final 20% from Redivium pending terms of the binding sale agreement (CLZ HNR ASX release 03 Oct 2023 and RIL CLZ ASX release 5 June 2024). 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 and lithium.

Classic has inferred and indicated mineral resources of 8.09Mt at 1.45 g/t for 377,946 ounces of gold , classified and reported in accordance with the JORC Code (2012), with Scoping Study (see ASX Announcement released 2nd May 2017) suggesting both the technical and financial viability of the project. The current postmining 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 21 June 2023.

		Indicated			Inferred			Total
		Grade			Grade			Grade
Prospect	Tonnes		OzAu	Tonnes		OzAu	Tonnes		OzAu
		(Au g/t)			(Au g/t)			(Au g/t)
Lady Ada	540,339	1.62	28,143	809,642	1.23	32,018	1,349,981	1.39	60,161
Lady Magdalene	956,494	1.36	41,823	4,644,033	1.31	195,595	5,600,527	1.32	237,418
Kat Gap	254,900	2.5	20,488	886,512	2.11	60,139	1,141,412	2.19	80,367
Total	1,751,733	1.61	90,454	6,340,187	1.41	287,752	8,091,920	1.45	377,946

Notes:

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

2. The effective date of the mineral resource estimate is 10 June 2024.

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. Mineral resources for Lady Ada and Lady Magdalene (Ladies) are reported at 0.5 g/t Au cut-off grade, Kat Gap at 0g/t Au.

6. Depletion of the resource from historic open pit mining has been considered for the Ladies deposits. Trial pit mining depletion at Kap Gap has not been accounted for in the block model due to the ore remaining unprocessed.

The Company confirms that it is not aware of any new information or data that materially affects the information included in this market announcement and, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

==> picture [595 x 64] intentionally omitted <==

C LASSIC MINERALS LIMITED 71 Furniss Rd, Landsdale Western Australia 6065 ASX: CLZ | ABN 77 119 484 016 contact@classicminerals.com.au

==> picture [32 x 842] intentionally omitted <==

Forward Looking Statements - Disclaimer

This ASX announcement (Announcement) has been prepared by Classic Minerals Limited (“Classic” or “the Company”). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this Announcement.

This Announcement contains summary information about Classic, its subsidiaries and their activities which is current as at the date of this Announcement. The information in this Announcement is of a general nature and does not purport to be complete nor does it contain all the information which a prospective investor may require in evaluating a possible investment in Classic.

By its very nature exploration for minerals is a high-risk business and is not suitable for certain investors. Classic’s securities are speculative. Potential investors should consult their stockbroker or financial advisor. There are a number of risks, both specific to Classic and of a general nature which may affect the future operating and financial performance of Classic and the value of an investment in Classic including but not limited to economic conditions, stock market fluctuations, gold price movements, regional infrastructure constraints, timing of approvals from relevant authorities, regulatory risks, operational risks and reliance on key personnel.

Certain statements contained in this announcement, including information as to the future financial or operating performance of Classic and its ‐ projects, are forward looking statements that:

• may include, among other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, capital expenditures, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions;

• are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Classic, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies; and,

• involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated ‐ events or results reflected in such forward looking statements.

‐ Classic disclaims any intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or otherwise. The words ‘believe’, ‘expect’, ‘anticipate’, ‘indicate’, ‘contemplate’, ‘target’, ‘plan’, ‘intends’, ‘continue’, ‘budget’, ‘estimate’, ‐ ‘may’, ‘will’, ‘schedule’ and similar expressions identify forward looking statements.

All forward-looking statements made in this announcement are qualified by the foregoing cautionary statements. Investors are cautioned that forward‐looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward‐ looking statements due to the inherent uncertainty therein. No verification: Although all reasonable care has been undertaken to ensure that the facts and opinions given in this Announcement are accurate, the information provided in this Announcement has not been independently verif

==> picture [595 x 64] intentionally omitted <==