WA-focused gold exploration and development company Classic Minerals Limited (ASX. CLZ) ('Classic', or 'the Company') announces a major milestone on its path to gold production.

Classic was granted the Mining Lease (M74/249) on 22nd April 20213.

The management lodged its Mining Proposal (including Mine Closure Plan) with the Department of Mines, Industry Regulation and Safety (DMIRS) on the 30th of April 2021. This application has now been approved.

Classic can now progress to full scale mining.

The Company will provide regular updates as it moves forward. Chairman John Lester said, 'The completion of the extensive environmental and social approvals process by the DMIRS is a significant achievement for the Company. Securing the necessary approvals will enable full-scale construction and mining activities to begin. Classic wishes to thank its key staff and consultants who were involved in the approvals process. Special thanks to our manager Jacob Doutch and consultant Matt Holmes of Significant Environmental Services for their outstanding efforts working through this complex approval process.

ABOUT THE FORRESTANIA GOLD PROJECT

The FGP Tenements (excluding Kat Gap) are registered in the name of Reed Exploration Pty Ltd, a wholly owned subsidiary of ASX listed Hannans Ltd (ASX: HNR). Classic has acquired 80% of the gold rights on the FGP Tenements from a third party, whilst Hannans has maintained its 20% interest in the gold rights. For the avoidance of doubt Classic Ltd owns a 100% interest in the gold rights on the Kat Gap Tenements and also non-gold rights including but not limited to nickel, lithium and other metals. Classic has a Global Mineral Resource of 8.24 Mt at 1.52 g/t for 403,906 ounces of gold, classified and reported in accordance with the JORC Code (2012), with a recent Scoping Study suggesting both the technical and financial viability of the project.

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