CLASSIC MINERALS LTD — Interim / Quarterly Report 2017

Oct 30, 2016

September Quarterly Activity Statement

ASX: CLZ ACN 119 484 016

31[st] October 2016

Classic Minerals Limited (Classic or the Company) (ASX Code: CLZ) is pleased to announce the following developments relating to the Company’s Activity period for the September Quarter 2016.

Highlights

 Mining Warden dismisses Application for Forfeiture at Doherty’s Project  1 Million Dollar Funding facility

The Sale of Mining Rights Interest at the Doherty’s Gold Project (M57/619) Mining Warden dismisses “Plaint”

On the 27[th] July 2016, an application of forfeiture (No: 4912989) (“the Plaint”) was lodged with the Warden’s Court relating to the Doherty’s tenement. This Plaint (which was the subject of an ASX Announcement dated 13[th] September 2016) over the company’s Doherty’s Gold Project has now been withdrawn and the Mining Warden has confirmed that this matter has been dismissed. The Company has advised Accelerated Mining (“Accmin”) of the Mining Warden’s decision regarding the withdrawal of the Plaint.

Accmin has advised Classic that they wish to extend the settlement date to 1[st] of December 2016. Classic Minerals will consider the extension request from Accmin and look to finalise and conclude the transaction.

Funding Facility

Classic Minerals has entered into a Standby Subscription Agreement (Facility) with Melbourne based capital firm Stock Assist Group Pty Ltd (Investor). The Facility arrangement will be for $1,000,000 to progress with the company’s ongoing exploration commitments and working capital.

Under the Facility the Investor agrees to subscribe for Shares if requested by the Company subject to the terms and conditions of this Facility. The Company need not use the Facility, however, if the Company wants to use the Facility, it may do so by one or more drawdowns at any time over the next 5 years. Under the Facility the Company may give a Drawdown Notice to the Investor for funds to be received within 2 business days. Unless otherwise agreed between the Company and Investor the payment of subscription moneys and issue of Shares on a Drawdown Date will be effected in accordance with the ASX Listing Rules.

Fully paid ordinary Shares will be issued to the value of the Drawdown Notice at an Issue Price of 80% of the 5 day VWAP prior to the issue of the shares. The Company has the right to terminate the Facility at no cost.

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ASX Announcement

On behalf of the Board Justin Doutch Managing Director

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: admin@classicminerals.com.au

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