Ann: Gold Asset Decision, page-2

"Connected IO Limited (ASX:CIO) (the Company) refers to its announcements made on 8 November 2017 and 19 June 2017 regarding the Company’s application for E37/1232 and Mr Andrew Paterson’s application for judicial review of the Minister for Mines decision to terminate his application for E37/1220 which overlaps the same area as the Company’s E37/1232.

A single judge of the Supreme Court has upheld Mr Paterson’s application for judicial review and ordered the Company to pay Mr Paterson’s legal costs of these proceedings. The Company has 21 days in which to appeal the decision to the Western Australian Court of Appeal. The Company is taking advice and considering its position in relation to an appeal.

The effect of the Supreme Court decision, unless appealed by the Company, is that the applications will return before the Minister of Mines for determination."