Cassius Mining Limited advised that Phase 2 of its coring programme is to commence on 22 August 2022 at the Soalara Limestone Project in Madagascar. The rig is scheduled to arrive on site on August 20th/21st and is anticipated to commence coring from 22 August 2022. It is estimated the programme will take 35-45 days.

Phase 2 will core five vertical holes to a depth of 100m each, adjacent to Phase 1 holes on the same drill collar grid. Phases 1 and 2 combined form a nine hole coring programme targeting a potential upgrade from the existing JORC Exploration Target to a JORC Mineral Resource, to be estimated after Phase 2 is complete. The Company has already selected its consultants to conduct this Mineral Resource Estimate ("MRE").

Four vertical holes were each cored to 100m. Multiple thick limestone sequences were confirmed with purities from >98.5% to 93.5% CaCO3, overburden free, with only thin interbedded clayish limestones/clays. Upper Limestone sequences are of higher purity, with further significant sequences to 100m in every hole.

Lateral and vertical limestone continuity was confirmed with depth between all four holes. 73% of assays from every metre cored showed an average of 97.02%wt CaCO3 ("High purity" limestone4), on track to a potential upgrade from the current Exploration Target to a Mineral Resource.