NAMDINI INFILL DRILLING INTERSECTS 147m at 3.1g/t

NAMDINI INFILL DRILLING INTERSECTS 147m at 3.1g/t

Cardinal Resources Limited (ASX/TSX: CDV) (“Cardinal” or “the Company”) is pleased to report assay results from its drilling programme on the Namdini Gold Project in Ghana. Detailed results of the drill programme are included below and in the attached schedules. Further results of the continuing drill programme will be released as assay results are obtained, with an updated Mineral Resource estimate expected Q3 2017.

Cardinal’s Chief Executive Officer / Managing Director, Archie Koimtsidis said: “We are once again very pleased with the return of additional results of our drilling programme that confirms continuity of the mineralisation. These results are very encouraging and are expected to improve the robustness of the Mineral Resource. More results are expected, which should upgrade the current Mineral Resource in both size and category.

Cardinal’s drill programme is ongoing with eleven drill rigs on site.” INFILL DRILLING PROGRAMME RESULTS Section F Highlights: NMDD092  147m at 3.1 g/t Au (LWAG1 ) o Includes:  53m at 2.6 g/t Au  20m at 4.2 g/t Au  13m at 3.8 g/t Au NMRC154  87m at 1.1 g/t Au (LWAG1 ) o Includes:  14m at 1.1 g/t Au  12m at 1.0 g/t Au  15m at 1.0 g/t Au Section G Highlights: NMDD079  173m at 1.3 g/t Au (LWAG1 ) o Includes:  26m at 1.2 g/t Au  10m at 1.4 g/t Au  41m at 2.2 g/t Au NMDD091  162m at 1.5 g/t Au (LWAG1 ) o Includes:  48m at 1.9 g/t Au  47m at 1.7 g/t Au  14m at 1.0 g/t Au 1 Length Weighted Average Grade (LWAG): Calculations are based on 3m minimum width, 3m maximum contiguous waste and 0.5 g/t Au cut-off. Page 2 of 18 www.cardinalresources.com.au ABN 56 147 325 620 DISCUSSIONS OF RESULTS Drilling results continue to be returned during the comprehensive campaign to infill and extend the defined Namdini Mineral Resource. Early results indicate the strong continuity of mineralised zones. Further results are pending and will form the basis for a Mineral Resource upgrade expected towards the end of Q3 2017.

Cardinal Resources Limited (ASX/TSX: CDV) is an African gold-focused exploration and development Company which holds interests in tenements within Ghana, West Africa. The Company’s Namdini Project has a declared gold Mineral Resource of 23.86Mt @ 1.21 g/t for 931,000 oz Indicated and 100.15Mt @ 1.13 g/t for 3.63 Moz Inferred (Refer to Cardinal “Technical Report on Namdini” dated 5 April 2017). The Company is focused on the development of the Namdini Project through a resource expansion drilling programme, prefeasibility studies, detailed metallurgical test work and process flowsheet studies. Exploration activity is also underway at the Company’s Bolgatanga (Northern Ghana) and Subranum (Southern Ghana) Projects. For further information contact: Archie Koimtsidis Alec Rowlands CEO / MD IR / Corp Dev Cardinal Resources Limited Cardinal Resources Limited P: +61 8 6558 0573 P: +1 647 256 1922 Cardinal technical staff maintain a set of standard procedures for both diamond drilling and reverse circulation drilling. For diamond drilling (which is completed using HQ core collection), the key aspects are that the holes are electronically surveyed every 30 metres down hole, all core runs are routinely oriented using a Reflex digital orientation instrument, core recovery is measured and geotechnical logging is completed as the core is recovered at the rig site. Back at the Bolgatanga office the core is photographed wet and dry and after logging onto digital data recorders, the core is cut such that a half HQ core is retained for reference. The same sector of core, relative to the core orientation mark is routinely sampled for assaying. For RC drilling, samples are collected on a one metre interval using a multi‐‐‐tier riffle splitter, duplicate field samples are routinely collected (one in 20), the cyclone is thoroughly cleaned on each rod change and the splitter is cleaned after each metre sample. The sample bag weights for each metre interval are routinely weighed, as are the split samples for submission to the assay laboratory and approximately 2.5 to 3 kilogram chip samples are dispatched to the laboratory. Amongst the samples, a suite of internationally accredited and certified reference material along with blanks are included in the sample submission sequence. The standards cover the gold grade range expected at Namdini. The individual sample bags for both core and drill chips are sealed at the Bolgatanga site office and are grouped into tens for placement in a large plastic bag, which is, in turn, sealed. The assay laboratory provides sample transport from Bolgatanga such that the chain of custody passes from Cardinal to the assay laboratory at the Bolgatanga sample logging facility. Page 6 of 18 www.cardinalresources.com.au ABN 56 147 325 620 Once sample bags and pulps are returned from the assay laboratory to Cardinal’s Bolgatanga facility, a representative suite of pulps, covering the entire range of both sample batches and gold grades are chosen for ‘referee’ analysis at an accredited independent laboratory. As with the routine sample submission, a suite of international certified standards and blanks are inserted into the referee assaying pulp sequence. Cardinal technical staff carry out routine analysis of the quality control data on receipt of assay results from the laboratory in order to determine if the batch of samples has passed industry standard levels for control samples. If the batch ‘fails’, the batch of assays is rejected and a re‐assay request for the batch of samples is made to the laboratory. Competent Person’s Statement The information in this press release has been compiled and reviewed by Mr. Richard Bray, a Registered Professional Geologist with the Australian Institute of Geoscientists and Mr. Ekow Taylor, a Chartered Professional Geologist with the Australasian Institute of Mining and Metallurgy. Mr. Bray and Mr. Taylor have more than five years’ experience relevant to the styles of mineralisation and type of deposits under consideration and to the activity which is being undertaken to qualify as a Competent Person, as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” and as a Qualified Person as defined by the NI43-101 instrument. Mr. Bray and Mr. Taylor are full-time employees of Cardinal and hold equity securities in the Company. Mr. Bray and Mr. Taylor have consented to the inclusion of the matters in this report based on the information in the form and context in which it appears. Disclaimer This ASX / TSX press release has been prepared by Cardinal Resources Limited (ABN: 56 147 325 620) (“Cardinal” or “the Company”). Neither the ASX or the TSX, nor their regulation service providers accept responsibility for the adequacy or accuracy of this press release. This press release contains summary information about Cardinal, its subsidiaries and their activities, which is current as at the date of this press release. The information in this press release is of a general nature and does not purport to be complete nor does it contain all the information, which a prospective investor may require in evaluating a possible investment inCardinal. By its very nature exploration for minerals is a high‐risk business and is not suitable for certain investors. Cardinal’s securities are speculative. Potential investors should consult their stockbroker or financial advisor. There are a number of risks, both specific to Cardinal and of a general nature which may affect the future operating and financial performance of Cardinal and the value of an investment in Cardinal including but not limited to economic conditions, stock market fluctuations, gold price movements, regional infrastructure constraints, timing of approvals from relevant authorities, regulatory risks, operational risks and reliance on key personnel and foreign currency fluctuations. Except for statutory liability which cannot be excluded, each of Cardinal’s officers, employees and advisors expressly disclaim any responsibility for the accuracy or completeness of the material contained in this press release and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this Announcement or any error or omission here from. The Company is under no obligation to update any person regarding any inaccuracy, omission or change in information in this press release or any other information made available to a person nor any obligation to furnish the person with any further information. Recipients of this press release should make their own independent assessment Page 7 of 18 www.cardinalresources.com.au ABN 56 147 325 620 and determination as to the Company’s prospects, its business, assets and liabilities as well as the matters covered in this press release. Forward‐looking statements Certain statements contained in this press release, including information as to the future financial or operating performance of Cardinal and its projects may also include statements which are ‘forward‐looking statements’ that may include, amongst other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, capital expenditures and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions. These ‘forward – looking statements’ are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Cardinal, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies and involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward‐looking statements. Cardinal disclaims any intent or obligation to update publicly or release any revisions to any forward‐looking statements, whether as a result of new information, future events, circumstances or results or otherwise after today’s date or to reflect the occurrence of unanticipated events, other than required by the Corporations Act and ASX and TSX Listing Rules. The words ‘believe’, ‘expect’, ‘anticipate’, ‘indicate’, ‘contemplate’, ‘target’, ‘plan’, ‘intends’, ‘continue’, ‘budget’, ‘estimate’, ‘may’, ‘will’, ‘schedule’ and similar expressionsidentify forward‐looking statements. All forward‐looking statements made in this press release are qualified by the foregoing cautionary statements. Investors are cautioned that forward‐looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward‐looking statements due to the inherent uncertainty therein.



 

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NAMDINI INFILL DRILLING INTERSECTS 147m at 3.1g/t