Cassini Resources Limited (ASX: CZI) (Cassini or Company) is pleased to announce that Cassini shareholders have today approved, by the requisite majorities, the proposed schemes of arrangement pursuant to which it is proposed that: (a) OZ Minerals Limited (OZ Minerals) will acquire 100% of the shares in Cassini (Acquisition Scheme) and (b) Caspin Resources Limited (Caspin), a wholly owned subsidiary of Cassini, will be demerged from Cassini by way of a capital reduction which will result in 100% of the shares in Caspin being distributed to Cassini shareholders (Demerger Scheme), (together, the Schemes).

Cassini is also pleased to announce that Cassini shareholders have today approved a resolution pursuant to which Cassini's share capital will be reduced on the implementation date for the Demerger Scheme and returned to Cassini shareholders (Capital Reduction). The Acquisition Scheme and the Demerger Scheme are conditional on the Capital Reduction being approved by Cassini shareholders.

Although Cassini shareholder approval has been obtained, the Schemes remain subject to a number of conditions as set out in the Acquisition Scheme Implementation Deed and Demerger Scheme Implementation Deed (full copies of which are disclosed within the respective scheme booklets, which are available on the ASX website at www.asx.com.au and on Cassini's website at www.cassiniresources.com.au), including: the Supreme Court of Western Australia approving the Schemes (Second Court Hearing); the independent expert continuing to conclude that the Schemes are in the best interests of shareholders and the satisfaction or waiver of any remaining conditions prior to the Second Court Hearing.

Subject to these remaining conditions being satisfied or waived, implementation of the Schemes are expected to occur in early October 2020.

Notice of Second Court Hearing Date

Cassini's lawyers (Thomson Geer) will now seek Court approval of the Schemes. The Second Court Hearing will be held at 10:00am (AWST) on 23 September 2020 at the Supreme Court of Western Australia at 28 Barrack Street, Perth, Western Australia.

Contact:

Richard Bevan

Tel: +61 8 6164 8900

Email: admin@cassiniresources.com.au

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