PREDICTIVE DISCOVERY LIMITED — Capital/Financing Update 2018

Mar 5, 2018

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ASX

Announcement

Predictive Discovery Limited is a gold exploration company with strong technical capabilities focused on its advanced gold exploration projects in West Africa.

ASX: PDI

Issued Capital: 236 million shares

Share Price: 3.5 cents

Market Capitalisation: $8.3 M

Directors

Phillip Jackson Non-Exec Chairman

Paul Roberts Managing Director

David Kelly Non-Executive Director

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6[th] March 2018

More Good Drill Results, Bobosso Joint Venture, Cote D’Ivoire

Predictive Discovery Limited (ASX: PDI) is pleased to announce more positive RC drill results from the Bobosso Joint Venture with Progress Minerals International (Inc.) in Cote D’Ivoire:

• Best new intercepts:

• 56m @ 1.58g/t Au from 47m including 3m at 6.10g/t Au

• 18m at 2.05g/t Au from 9m including 4m at 5.59g/t Au ,

• 8m at 1.95g/t Au from 31m,

• 8m at 1.73g/t Au from 19m,

• 8m at 1.58g/t Au from 98m,

• 1m at 15.53g/t Au from 61m,

• 4m at 3.05g/t Au from 23m.

• Six zones within the very large Bobosso gold mineralised system have now been tested by RC drilling, with mineralised strike lengths of 100 to 300m, all of which are open along strike and could therefore become larger.

Mr Paul Roberts, Predictive’s Managing Director said: “These results add to the good initial drill assays we reported on 16[th] January 2018. Two drill programs have now been completed by the joint venture, both of which have yielded encouraging results and added to our knowledge of this very large gold mineralised system. We remain confident that there are more gold mineralised zones with good continuity to be found at Bobosso - both as extensions to the zones we have already drilled and in new, as yet untested, areas.”

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Figure 1: RC drill hole locations plotted on a map showing historical drilling superimposed on a gold-in-soil geochemistry gridded image (red “peaks” with higher gold values and green “flats” with low grades).

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Figure 2: Locality map showing the Bobosso Project. The granted Wendene and Bassawa permits lie directly to the south of the Dabakala permit application (highlighted). The map also shows the initial Toro Joint Venture permits (brown), the GIV Joint Venture permits and permit applications (blue), the new wholly owned Ivoirian Resources SARL permit applications (in green) and the recent, optioned Sika Resources SARL permit applications (in magenta).

INTRODUCTION

The Bobosso Project consists of two granted exploration permits, Bassawa and Wendene in northern Cote D’Ivoire (Figure 1), which are held by an Ivoirian company, XMI SARl ( XMI ). Bassawa and Wendene are located in the southern extension of the well mineralised Hounde Belt in Burkina Faso, which includes Semafo’s Mana Mine (5 Moz in ore resources and reserves[1] ).

Previous exploration by Equigold, Lihir and Newcrest including a series of large drilling programs totalling 569 RC holes and 11 diamond drill holes. This obtained many gold mineralised intercepts

1 See http://www.semafo.com/English/operations-and-exploration/reserves-and-resources/default.aspx

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beneath a 7km[2] gold-in-soil geochemical anomaly (ASX release dated 28/10/15) indicating the presence of a large gold mineralised system.

Earlier geological mapping and re-logging of historical diamond drill core by Predictive staff has demonstrated that the gold mineralisation is hosted in a sequence of mafic volcanics, with lesser felsic to intermediate volcanics and minor metasediments. Gold mineralisation is found in both broad, moderate grade alteration zones (carbonate-silica-sericite-pyrite) and narrower, higher grade quartz veins.

PDI entered the Bobosso project through an agreement which was signed in October 2015 with the owner of XMI, West Africa Venture Investment ( WAVI ). In 2017, Predictive and WAVI entered into a funding agreement with Progress Minerals Inc ( Progress ) through which Progress has now funded US$1 million of expenditure to earn a 30% equity in the project. Progress may increase its equity in the project to 55% by spending an additional US$1.5 million. Predictive’s current equity stands at 30%.

RC DRILLING PROGRAM

An RC drilling program, totalling 45 holes and 4,244m, was completed on 21[st] December 2017. It was designed to explore six small target areas within the large Bobosso gold mineralised system by testing:

• for extensions to gold mineralisation intersected in the earlier diamond drilling e.g. Targets 1 and 4,

• for a postulated flat mineralised zone at the Wendene Hill location, and

• along strike from historical drill intercepts e.g. BRC39, BRC104 and BRC135.

The holes were mostly drilled towards the SSE on a 160 degree azimuth in keeping with the previously inferred ENE strike and north dip of the mineralised zones.

The program was carried out by Foramin and the drill samples were assayed by Bureau Veritas in Abidjan. Additional details about the program are provided in Table 1.

Drilling of the first four targets all obtained very encouraging results including:

• Wendene Hill target:

• 12m at 4.93g/t Au from 5m including 1m at 41.33g/t Au ,

• 15m at 1.06g/t Au from 20m.

• Target 4:

• 19m at 1.28g/t Au from 73m,

• 19m at 1.00g/t Au from 23m,

• 9m at 1.47g/t Au from 40m.

• BRC135 target:

• 21m at 1.59g/t Au from 61m.

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• BRC09 target

• 28m at 2.18g/t Au from 5m including 1m at 14.16g/t Au

• 19m at 2.13g/t Au from 3m

Drill results from the remaining two target areas are reported here:

Target 1

Figure 3 illustrates the distribution of gold mineralised intercepts in this prospect, highlighting the results of this drill program, and showing both historical drill intercepts (ASX release dated 28/10/15) and the joint venture’s 2017 diamond drill results (ASX release dated 20/7/17). The gold mineralised zone is now known to extend approximately 300m along strike and is open to the east-north-east and west-south-west. Several mineralised zones are indicated, and appear to dip steeply to the north.

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Figure 3: Target 1 plan view showing results of recent RC drill program (yellow labels) along with historical results in black (reported to the ASX on 28/10/15) and 2017 diamond drill results (reported to the ASX on 20/7/17).

BRC104 target

Figure 4 illustrates the distribution of gold mineralised intercepts in this prospect, highlighting the results of this drill program along with historical drill intercepts (ASX release dated 28/10/15). The zone appears to strike east-north-east similar to target however the dip is not clear and may be steep towards the south – unlike all other mineralised zones drilled to date. The BOBRC057 intercept extends to 103m downhole, indicating that good grade mineralisation can continue at depth.

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Figure 4: BRC104 target plan view showing results of recent RC drill program (yellow labels) along with historical results in black (reported to the ASX on 28/10/15).

Conclusions

All of the RC drill results have now been reported. This program has shown that:

• The strike orientations of the gold mineralised zones in the Bobosso system (associated with wide alteration zones and disseminated pyrite) range from east-west to northnorth-east. Therefore, given the lack of outcrop in most areas, extensions to each mineralised zone need to be tested carefully in a stepwise fashion until mineralisation strike and dip is established.

• Gold grades and widths are generally highest in the near-surface, suggesting some supergene enrichment. Resource drilling will therefore need to obtain a shallow intercept on each section to ensure that a representative picture of average grades and widths at open pit mineable depths are obtained. The BOBRC057 intercept does illustrate, however, that good grades and widths can persist to depth in fresh rock.

• The mineralised alteration continuity that was observed in the 2017 diamond drilling has been confirmed by the RC drilling. The primary alteration is very characteristic (pale coloured carbonate-silica-sericite) and much of it is gold-anomalous especially where pyrite and/or quartz veining is present.

• The flat mineralised zone at Wendene Hill may be the first of a number yet to be discovered within the Bobosso mineralised system. Such zones could be important targets, especially in the near surface, as they present the opportunity to discover

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significant volumes of mineralisation within the zone of supergene enrichment and with potentially low stripping ratios if they are shown to be economically viable to mine.

• This drilling has contributed to the ongoing process of identifying mineralised zones with significant gold-bearing widths, especially in the near surface, most of which are open along strike. The historical drilling has been a useful starting point for testing new areas, however given the generally incorrect historical drill orientation and the prevalence of better grades and widths in the near surface, which were not optimally tested, there is a substantial opportunity to find more zones of the type described here. Furthermore, as Figure 1 demonstrates, there are large untested areas within the outline of the Bobosso soil geochemical anomaly which have seen no drilling at all.

NEXT STEPS

The joint venture partners are discussing the results of this drill program. The next exploration program, both for the Bobosso gold mineralised system and the surrounding exploration permits, will be determined in the next few weeks. More drilling is expected during 2018.

TABLE 1 – RC DRILL RESULTS – BOBOSSO PROJECT –

PROGRESS MINERALS JV

Hole No.	UTM 30N Easting	UTM 30N Northing	RL (m)	Hole depth (m)	Hole dip (°)	Azimu th (°)	0.25g/t Au cutoff	0.25g/t Au cutoff	0.25g/t Au cutoff	0.5g/t Au cutoff	0.5g/t Au cutoff	0.5g/t Au cutoff	Comments
							Depth from (m)	Inter val (m)	Au (g/t)	Depth from (m)	Inter val (m)	Au (g/t)
BOBRC046	380481	943580	269	100	-60	160	47	1	2.48	47	1	2.48
BOBRC046	380481	943580	269	100	-60	160	54	2	1.06	54	2	1.06
BOBRC046	380481	943580	269	100	-60	160	67	6	0.92	68	4	1.20
BOBRC047	380497	943539	273	75	-60	160	4	1	2.08	4	1	2.08
BOBRC047	380497	943539	273	75	-60	160	20	3	2.18	21	2	3.06
BOBRC048	380385	943556	272	100	-60	160	64	10	0.91	64	7	1.15
BOBRC049	380397	943505	265	94	-60	160	0	21	1.04	0	2	2.37
BOBRC049	380397	943505	265	94	-60	160				10	6	2.15
BOBRC049	380397	943505	265	94	-60	160	30	5	2.61	30	5	2.61
BOBRC050	380339	943503	266	75	-60	160		20			18		includes 4m @
							9		1.88	9		2.05
													5.59g/t Au
BOBRC050	380339	943503	266	75	-60	160	61	1	15.53	61	1	15.53
BOBRC051	380309	943525	268	89	-60	160	0	9	0.53	3	6	0.61
BOBRC051	380309	943525	268	89	-60	160	23	2	0.82	23	2	0.82
BOBRC051	380309	943525	268	89	-60	160	54	2	0.72	54	2	0.72
BOBRC051	380309	943525	268	89	-60	160	77	4	0.44
BOBRC052	380301	943500	275	100	-60	160	0	14	0.97	0	14	0.97
BOBRC052	380301	943500	275	100	-60	160	31	10	1.62	33	8	1.95
BOBRC052	380301	943500	275	100	-60	160	49	4	0.62	51	2	0.95

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BOBRC052	380301	943500	275	100	-60	160	71	2	0.69
BOBRC052	380301	943500	275	100	-60	160	90	2	1.01	90	2	1.01
BOBRC053	380263	943479	275	106	-60	160	21	1	6.38	21	1	6.38
BOBRC053	380263	943479	275	106	-60	160	56	4	0.38
BOBRC053	380263	943479	275	106	-60	160	67	7	0.54	67	6	0.57
BOBRC053	380263	943479	275	106	-60	160	78	6	0.48	82	2	0.94
BOBRC053	380263	943479	275	106	-60	160	89	3	0.53	89	2	0.57
BOBRC053	380263	943479	275	106	-60	160	101	2	0.63	101	2	0.63
BOBRC054	380248	943534	274	112	-60	160	9	8	1.02	9	8	1.02
BOBRC054	380248	943534	274	112	-60	160	24	10	0.75	24	8	0.87
BOBRC054	380248	943534	274	112	-60	160	98	4	0.69	100	2	0.99
BOBRC055	380182	943437	279	106	-60	160	7	2	1.18	7	2	1.18
BOBRC055	380182	943437	279	106	-60	160	19	8	1.73	23	4	3.05
BOBRC055	380182	943437	279	106	-60	160	57	12	1.09	58	5	2.16
BOBRC055	380182	943437	279	106	-60	160	78	2	1.44	78	2	1.44
BOBRC055	380182	943437	279	106	-60	160	90	2	0.98	90	2	0.98
BOBRC055	380182	943437	279	106	-60	160	102	2	0.97	102	2	0.97
BOBRC056	379325	943393	272	112	-60	160		no	significant result
BOBRC057	379341	943356	276	130	-60	160	29	3	0.90	29	1	2.05
BOBRC057	379341	943356	276	130	-60	160		57			56		includes
													3m@6.10g/t Au
							46		1.56	47		1.58
													and 1m @ 10.79
													g/t Au
BOBRC057	379341	943356	276	130	-60	160	108	3	1.59	109	1	4.52
BOBRC057	379341	943356	276	130	-60	160	120	10	0.83	120	10	0.83	stopped in mineralisation
BOBRC058	379238	943331	265	112	-60	160	23	5	0.75	23	3	1.04
BOBRC058	379238	943331	265	112	-60	160	102	5	0.58	104	2	0.88
BOBRC059	379255	943283	267	112	-60	160	9	2	0.90	9	2	0.90
BOBRC059	379255	943283	267	112	-60	160	35	1	4.83	35	1	4.83
BOBRC059	379255	943283	267	112	-60	160	98	8	1.58	98	8	1.58
BOBRC060	379134	943352	266	117	-60	160	2	11	0.95	3	7	1.30
BOBRC061	379143	943315	271	112	-60	160		no	significant result
BOBRC062	379093	943417	263	118	-60	160	59	9	0.50

Section 1: Sampling Techniques and Data

Section 1: Sampling Techniques and Data	Section 1: Sampling Techniques and Data	Section 1: Sampling Techniques and Data
Criteria	JORC Code Explanation	Commentary
Sampling Technique	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 downhole 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	All of the sampling described in Table 1 refers to RC drill holes. A representative subsample of the sample was obtained by riffle splitting. The assayed drill samples are judged to be representative of the rock being drilled because representative sub- sampling of the RC samples was achieved.

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	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.
Drilling	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).	The drilling was carried out by the reverse circulation drilling method.
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.	Sample recovery was assessed by weighing sample bags. The geologists on site reported that recoveries are consistently good.
Logging	Whether core and chip samples have been geologically and geotechnical 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/Trench, channel, etc) photography. The total length and percentage of the relevant intersections logged.	Logging of RC drill holes records lithology, mineralogy, mineralisation, alteration, structure, weathering and other features of the samples. Logging of sulphide mineralization and veining is quantitative. All holes were logged in full. No judgement has yet been made by independent qualified consultants on whether the geological and geotechnical logging has been sufficient to support Mineral Resource estimation, mining and metallurgical studies.
Sub-Sampling Technique 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	The samples were riffle split on site. The sampled material is considered to be representative of the samples as a whole.

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	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.
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.	All samples reported in this release were prepared and assayed for gold by 50g fire assay at the Bureau Veritas laboratory in Abidjan, Cote D’Ivoire. At the lab, regular assay repeats, lab standards, checks and blanks were inserted and analysed. Unlabelled standards (Certified Reference Materials) and blanks were also inserted by team members on site at Bobosso.
Verification of Sampling and Assaying	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes The verification of significant intersections by either independent or alternative company personnel. Discuss any adjustment to assay data	No twinning was undertaken in this program however re- assaying of pulps covering the thick BOBRC057 mineralised interval was carried out. Both the initial results and the subsequent re-assays yielded essentially the same bulk grade. Field data collection was undertaken by site geologists and supervised largely by Progress management.
Location of Data points	Accuracy and quality of surveysused tolocate 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	Collar positions were located using a hand held GPS with a location error of +/-3m. Collar coordinates listed in the table are for the WGS84 datum, Zone 30 North.
Data Spacing and Distribution	Data spacing for reporting of Exploration Results Whether the data spacing and distribution is sufficient to establish the degree of	The holes reported here were drilled as shown on the included locality plans. No judgement has yet been made by an independent qualified consultant on whether the drill density is sufficient to calculate a Mineral Resource.

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	geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied	The 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.	All drill holes reported here were drilled approximately at right angles to the anticipated strike of the gold mineralisation.
Sample Security	The measures taken to ensure sample security	Reference RC samples are currently stored securely at rented premises at Dabakala, the closest town to the Bobosso project area.
Audits or Reviews	The results of any audits or reviews of sampling techniques and data	No audits or reviews of sampling techniques and data have been carried out given the reconnaissance nature of this drill program.
	Section 2 Reporting of Exploration Results
Mineral Tenement and Land Tenure Status	Type, reference name/number, location and ownership including agreements or material issues with third partiessuch asjoint 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 Wendene exploration permit (on which the Bobosso prospect is located) was granted to XMI SARL in December 2015. Currently, Predictive Discovery Limited holds 37% and West Africa Mine Investment (WAVI) holds 63%. Progress Minerals Inc has earned 30% by expenditure of $US1 million on exploration. Progress now holds 30%, Predictive 30% and WAVI 40%.
Exploration Done by Other Parties	Acknowledgment and appraisal of exploration by other parties.	A substantial amount of exploration was carried out by Equigold and Lihir Gold Limited. This work has been acknowledged and the historical drill results reported to the ASX on 20/1015.
Geology	Deposit type, geological setting and style of mineralisation.	The geology of the Bobosso permit consists of mafic volcanics and intrusives, metasediments, intermediate volcanics and intrusives. The target deposit is type is “orogenic gold”.
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: • easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole	All the required data is provided in Table 1 (above).

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	• down hole length and interception depth • 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.
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.	The RC samples were all sampled and assayed in 1m intervals. No top cuts have been applied to the drill results. Up to 3m (down-hole) of internal waste is included. Mineralised intervals are reported on a weighted average basis.
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’).	True widths have generally not yet been estimated as these will be guided by a 3D interpretation of the drill results which is still in progress.
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 plans and representative cross sections are included in this release.
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 misleading reporting of Exploration Results.	Intercepts are reported at 0.25g/t Au and 0.5g/t Au cutoffs and containing at least 1g/t x m with a maximum thickness of internal waste of 3m.
Other	Other exploration data, if	All relevant exploration data is either reported in this release

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Substantive Exploration Data	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.	or has been reported previously and is referred to in the release.
Further Work	The nature and scale of planned further work (eg tests for lateral 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 commercially sensitive.	The next exploration program is not yet decided but is expected to include more drilling on the Bobosso gold mineralised system.

Predictive Discovery Limited (PDI) was established in late 2007 and listed on the ASX in December 2010. The Company is focused on exploration for gold in West Africa. The Company operates in Burkina Faso, West Africa where it has assembled a substantial regional ground position covering 949km[2] and has been exploring for large, open-pittable gold deposits. Exploration in eastern Burkina Faso has yielded a large portfolio of exciting gold prospects, including the high grade Bongou gold deposit on which a resource estimate was calculated in September 2014. PDI also has interests in a large portfolio of permits and permit applications in Côte D’Ivoire covering a total area of over 6,000 km[2] .

Competent Persons Statement

The exploration results reported herein, insofar as they relate to mineralisation are based on information compiled by Mr Paul Roberts (Fellow of the Australian Institute of Geoscientists). Mr Roberts is a full time employee of the company and has sufficient experience relevant to the style of mineralisation and type of deposits being considered to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Roberts consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

For further details please contact:

Paul Roberts Ric Moore Managing Director Company Secretary Tel: +61 402 857 249 Tel: +61 8 6143 1840 Email: Email: paul.roberts@predictivediscovery.com rmoore@auroraminerals.com

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