Cassini Resources Limited (ASX: CZI) ('Cassini' or the 'Company') is pleased to announce encouraging early results from drilling at the Yarawindah Brook Project located 130km northeast of Perth, on agricultural land near the township of New Norcia in Western Australia.

The Company has a 80% beneficial interest in the project which is prospective for nickel, copper, cobalt and PGE's. Kalgoorliebased prospector, Mr Scott Wilson, retains a 20% interest in the Project.

The Company is undertaking a diamond drilling program targeting multiple electromagnetic conductors identified following an airborne and ground electromagnetic surveys in 2018. The current program is the Company's first-ever drilling at the Project.

Brassica Prospect

The Company has had immediate success with the first two drill holes intersecting over 50m thick sequences of metagabbro's containing trace to minor pentlandite and chalcopyrite. Drilling has targeted the XC05 Conductor, now re-named the 'Brassica Prospect' located approximately 4km to the southwest of the main Yarawindah Prospect. The XC05 Conductor has been modelled as three distinct electromagnetic conductors extending over a strike length of 300m, with modelled plate conductance of up to 2,400S, consistent with sulphide accumulations.

Assay results include promising intercepts of 1.1m @ 0.50% Ni, 0.10% Cu & 0.08% Co from 92.9m in YAD0002 and 0.7m @ 0.09% Ni, 1.46% Cu & 0.02% Co from 71.4m in YAD0001. The metagabbro's are strongly anomalous in Ni and Cu (approx. 500ppm) throughout.

Regional Context

The Yarrawindah Brook project area was targeted by the company because it represents a maficultramafic intrusive complex, located at a major regional-scale structural intersection of the Darling Fault and the Meckering structural zone. Such tectonic intersections are a first-order control on the formation of major Ni-Cu-PGE sulphide deposits. Several phases of previous exploration have confirmed the presence of Ni-Cu-PGE magmatic sulphides, associated with mafic and ultramafic intrusive rocks. The Brassica Prospect is a new discovery by Cassini that has never been previously drilled. It is located 4km southwest of the main Yarawindah Prospect. Historical drilling was only conducted at the main Yarawindah Prospect and was primarily targeting shallow, supergene platinum and palladium mineralisation. The current exploration program is targeting massive/matrix sulphide bodies and accumulations associated with the mafic-ultramafic intrusions.

The first two drill holes have both intersected over 50m thick sequences of metagabbro's which have intruded into and are intercalated with strongly foliated, deformed and locally pyrrhotite- and pyritebearing mafic and felsic country rock gneisses. Metagabbro's contain pyrrhotite and pyrite disseminations throughout and trace pentlandite and chalcopyrite Locally, predominantly pyrrhotite-rich massive sulphides and chalcopyrite-rich veinlets are also present within the metagabbro's and country rocks.

Although the mineralisation identified so far is not economic, the company considers these results very encouraging for a completely new target area at a very early stage of exploration. The results to date have already demonstrated the Project's potential to host multiple magmatic nickel and copper deposits

Next Steps

Drilling has now re-commenced at Yarawindah following the Christmas-New Year break, with the third hole at Brassica underway. Following completion of this hole the rig will move to the main Yarawindah Prospect to drill the AN01 & AN02 conductors which are believed to be extensions to previously identified mineralisation such as 7m @ 1.30% Ni and 0.22% Cu in YWRC0083. A further six holes are planned, subject to visual results. All holes will be surveyed by Downhole Electromagnetics (DHEM) to assist further targeting.

The sequence of drilling has been timed to accommodate crop harvest at each of the targets. The Company would like to acknowledge the owners of 'Fauna Park' and 'Arlunya' for their assistance with the current drilling program.

Project Background

The Yarawindah Brook Project is located 130km northeast of Perth, on agricultural land near the township of New Norcia. The Project has had limited nickel, copper and cobalt exploration, despite a favourable regional setting, prospective geology and near-surface occurrences of nickel and copper mineralisation. The Company views platinum and palladium enrichment in the regolith as 'path-finders' for potential massive nickel - copper - cobalt sulphides which have been proven to exist through historic exploration. Confirming this, previous drilling in 2007 returned several significant intercepts of sulphide mineralisation such as 7m @ 1.30% Ni, 0.22% Cu, 0.06% Co and 432ppb Pd from 74m (YWRC0083). No follow-up drilling was conducted.

The Company completed an airborne electromagnetic survey (AEM) over the project in early 2018 identifying numerous conductors worthy of further investigation. A surface fixed loop electromagnetic (FLEM) survey was also completed over several of the higher priority AEM anomalies in order to confirm and better constrain the conductors prior to drilling. The FLEM reinforced the XC05 and XC06 anomalies as priority targets. Target depth is approximately 100m below surface. Only the XC05 conductor will be tested in this program due to access difficulties at XC06.

This is the first-ever drill testing in this area of the project, which is a distinctly different part of the belt which hosts the AN01 & AN02 conductors. Cassini has re-modelled surface and downhole electromagnetic (DHEM) data at AN01 & AN02 and identified multiple off-hole conductors which may represent extensions to recognised mineralisation in YWRC083. Target depths are a maximum of 120m below surface.

Contact:

Richard Bevan

Tel: +61 8 6164 8900

Email: admin@cassiniresources.com.au

About the Company

Cassini Resources Limited (ASX: CZI) is a base and precious metals developer and explorer based in Perth. In April 2014, Cassini acquired its flagship West Musgrave Project (WMP), located in Western Australia. The Project is a new mining camp with three existing nickel and copper sulphide deposits and a number of other significant regional exploration targets already identified. The WMP is the largest undeveloped nickel - copper project in Australia.

In August 2016, Cassini entered into a three-stage $36M Farm-in/Joint Venture Agreement with prominent Australian mining company OZ Minerals Ltd (ASX: OZL). The Joint Venture provides a clear pathway to a decision to mine and potential cash flow for Cassini. Cassini is also progressing its Mt Squires Gold Project (CZI 100%), and the Yarawindah Brook Nickel - Copper - Cobalt Project (CZI 80%), both located in Western Australia.

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