Ann: RC Drilling update at Forrestania, page-7

Email received from Argonaut this arvo:

Good afternoon,

Please find attached a drilling update made by the board of Classic Minerals this afternoon.

The update is encouraging on a number of fronts.

·The drilling campaign at the high grade Kat Gap project was increased by 50% from 12 holes to 18 holes.

·Multiple mineralised zones intersected with visible gold in panning dish

·Significantly, this drilling confirmed the discovery of granite hosted gold mineralisation. Given the setting of Kat Gap on the granite/greenstone contact and the extent of this contact on CLZ’s tenements, what was previously thought to be barren could substantially add to the gold inventory that is building up.

·CLZ have drilled step out RC holes to test the extent of this mineralisation.

·Assays are expected in 3 week’s time.

CLZ CEO and geologist Dean Goodwin summed up it up:

The Forrestania Gold Project continues to deliver fantastic results for Classic and its shareholders. We encountered high grade zones of mineralisation at each of the drill targets which all remain open along strike with high priority zones requiring urgent follow up. Kat Gap is shaping up to become a prolific shallow high-grade gold deposit with so much remaining upside potential. We have only tested >200m of 3.5km of potential strike along this granite-greenstone contact and received excellent gold grades from 11 of the 12 holes previously drilled.

During this programme, after recognising encouraging mineralisation in the drill samples, I decided to increase the number of drill holes from 12 to 18 with the goal of extending the mineralised zone at the granite/greenstone contact.

We look forward to the assay results matching the enthusiasm of Mr Goodwin!