Short Term Trading Week Starting: 11 Mar, page-76

CAI Calidus Resources
Exciting times ahead .

Key Activities and Achievements for the 6 months ended 31 December
• Resource Development Drilling Expands Mineralisation at Warrawoona
• Multiple New Drill Targets Highlighted by Geochem Survey
• Announcement of New Discovery at St George Shear
• Disposal of Non-core Conglomerate Gold Rights for C$3.5M
• Copenhagen Delivers Shallow, High-Grade Gold Mineralisation
• Strategic Placement to Alkane Resources Raises $3.7 million
• Appointment of Project Manager for pre-feasibility study that is underway Key Activities and Achievements subsequent to the 6 months ended 31 December • Calidus Grows Resource by 75% to 1.25 Moz
• Appointment of Chief Operating Officer

The year ahead will be a time of transition for Calidus as it implements a twin stream approach to the development and further exploration of the Warrawoona Gold Project. The Company plans to release the pre-feasibility study for the current 1.25 million ounce resource in Q3 of this year and thereafter, submit all its applications for permitting of the project. It will then immediately progress in to completing a definitive feasibility study and in parallel commence funding discussions. Whilst these studies and financing discussions are occurring, the Company will be undertaking first pass regional drilling and exploration of its 780sqkm of tenements which have seen limited to no exploration previously. In addition, Calidus will target adjacent extensions to the Klondyke Resource.

Fully funded through to Pre-feasibility Study (PFS) completion
Located in close proximity to high quality infrastructure and operating mines
Uniquely positioned as one of few remaining high grade open-pit gold development companies on the ASX

2.5c exercisable options to raise $2.2m due June 2019
Alkane will take equity positions and potentially support development financing.