COMPANY PRESENTATION RIU EXPLORERS CONFERENCE 2018 · 21 February 2018 COMPANY PRESENTATION – RIU...

ASX Release (CZI) 21 February 2018

COMPANY PRESENTATION –

RIU EXPLORERS CONFERENCE 2018

Cassini Resources Limited (ASX: CZI) is pleased to lodge a copy of the presentation that Managing Director Mr Richard Bevan will be presenting at the RIU Explorers conference in Fremantle, Western Australia today.

The presentation focuses on the significant exploration activity planned at the West Musgrave Project and its other projects for the 2018 field season.

Mr Bevan will be presenting at 12.20pm WST today, Wednesday 21 February 2018.

For further information, please contact:

Richard Bevan Managing Director Cassini Resources Limited Telephone: +61 8 6164 8900 E-mail: 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

world-class asset which currently has over 1.0 million tonnes of contained nickel and 2.0 million tonnes of contained

copper in Resource. 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, an early stage zinc exploration project in the West Arunta

region and also has an option to acquire 80% of the Yarawindah Nickel - Copper - Cobalt Project, all located in

Western Australia.

Cassini Resources Limited (ASX:CZI, FWB: ICR)

Explorers’ Conference, Fremantle Western Australia 20-23 February 2018 Richard Bevan, Managing Director

2 CASSINIRESOURCESLIMITED(ASX:CZI|FWB:ICR)

Disclaimer and important notice

TheinformaAoncontainedinthispresentaAonisforinformaAonalpurposesonlyanddoesnotconsAtuteanoffertoissue,orarrangetoissue,securiAesorotherfinancialproducts.TheinformaAoncontainedinthispresentaAonisnotinvestmentorfinancialproductadviceandisnotintendedtobeusedasthebasisformakinganinvestmentdecision.ThepresentaAonhasbeenpreparedwithouttakingintoaccounttheinvestmentobjecAves,financialsituaAonorparAcularneedsofanyparAcularperson.Beforemakingan investmentdecision,youshouldconsider,withorwithouttheassistanceofafinancialadviser,whetheran investment isappropriate in lightofyourparAcular InvestmentNeeds,ObjecAvesAndFinancialCircumstances.

NorepresentaAonorwarranty,expressorimplied,ismadeastothefairness,accuracy,completenessorcorrectnessoftheinformaAon,opinionsandconclusionscontainedinthispresentaAon.TothemaximumextentpermiUedbylaw,noneofCassiniResourcesLtd,theirdirectors,employeesoragents,noranyotherpersonacceptsanyliability,including,withoutlimitaAon,anyliabilityarisingoutoffaultofnegligence,foranylossarisingfromtheuseoftheinformaAoncontainedinthispresentaAon. In parAcular, no representaAon orwarranty, express or implied is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness or any forecasts, prospects or returns contained in thispresentaAonnorisanyobligaAonassumedtoupdatesuchinformaAon.Suchforecasts,prospectsorreturnsarebytheirnaturesubjecttosignificantuncertainAesandconAngencies.

Competent Persons Statement TheinformaAoninthisstatementwhichrelatestotheMineralResourcedata,includingtenementinformaAon,drilling,sampling,andanalyAcalresults,geologyinterpretaAon,andselecAonofcut-offgradehasbeenoverseenbyMrGregMileswhoisafull-AmeemployeeofCassiniResourcesLtdandaMemberoftheAustralasianInsAtuteofGeoscienAsts.MrMileshassufficientrelevantexperiencetothestyleofmineralisaAonandtypeofdepositunderconsideraAonandtotheacAvityforwhichheisundertakingtoqualifyasaCompetentPersonasdefinedintheJORCCode,2012EdiAon.

TheinformaAoninthisreportwhichrelatestotheNebo-BabelMineralResourceesAmaAonandclassificaAonhasbeenpreparedbyMrAndrewWeekswhoisafull-AmeemployeeofGolderAssociatesPtyLtdandaFellowoftheAustralasianInsAtuteofMiningandMetallurgy.MrWeekshassufficientrelevantexperiencetothestyleofmineralisaAonandtypeofdepositunderconsideraAonandtotheacAvityforwhichheisundertakingtoqualifyasaCompetentPersonasdefinedintheJORCCode,2012EdiAon.BothMrMilesandMrWeeksconsenttotheinclusioninthisreportofthemaUersbasedoninformaAonintheformandcontextinwhichitappears.

PleaserefertoCassini’sASXannouncementof7December2015fortheCompetentPersonStatementandJORCdisclosuretablesrelaAngtotheSuccothMineralResourceEsAmate.

CassiniisnotawareofanynewinformaAonordata,otherthanthatdisclosedinthisreport,thatmateriallyaffectstheinformaAonincludedinthisreportandthatallmaterialassumpAonsandparametersunderpinningExploraAonResults,MineralResourceEsAmatesandProducAonTargetsconAnuetoapplyandhavenotmateriallychanged.

Thenickelequivalent(NiEq)andcopperequivalent(CuEq)calculaAonstakeintoaccountresources,reserves,andgradesasstatedinlatestASXreleasesandassumes100%payabilityforallmetalsrecoveredgeneraAngacommodityequivalentvalueforNi,Cu,Co,Zn,Au,Ag,PbandMo.OnlyprojectswithJORC2012resourcesandreserveshavebeenused.Nickelequivalentgrade=Ni%+Cu%x0.56.Copperequivalentgrade=Cu%+Ni%x1.97.Basedonassumedrecoveriesof73%forCuand59%forNiandcommoditypricesshownbelow.ItistheCassini’sopinionthatalltheelementsincludedinthemetalequivalentscalculaAonhaveareasonablepotenAaltoberecoveredandsold..NiEqgradeshavebeenpublishedtoenableacomparisontosimilarsizednickelsulphideassets.CuEqgradeshavebeenpublishedtoenableacomparisontosimilarsizedcopperassets.

Forward Looking Statements SomestatementsinthisreportregardingesAmatesorfutureeventsareforward-lookingstatements.TheyincludeindicaAonsof,andguidanceon,futureearnings,cashflow,costsandfinancialperformance.Forward-lookingstatementsinclude,butarenot limited to, statementsprecededbywords suchas “planned”, “expected”, “projected”, “esAmated”, “may”, “scheduled”, “intends”, “anAcipates”, “believes”, “potenAal”, “could”, “nominal”, “conceptual”and similarexpressions.Forward-lookingstatements,opinionsandesAmatesincludedinthisannouncementarebasedonassumpAonsandconAngencieswhicharesubjecttochangewithoutnoAce,asarestatementsaboutmarketandindustrytrends,whicharebasedoninterpretaAonsofcurrentmarketcondiAons.Forward-lookingstatementsareprovidedasageneralguideonlyandshouldnotbereliedonasaguaranteeoffutureperformance.Forward-lookingstatementsmaybeaffectedbyarangeofvariablesthatcouldcauseactualresultstodifferfromesAmatedresults,andmaycausetheCompany’sactualperformanceandfinancialresultsinfutureperiodstomateriallydifferfromanyprojecAonsoffutureperformanceorresultsexpressedorimpliedbysuchforward-lookingstatements.TheserisksanduncertainAesincludebutarenotlimitedtoliabiliAesinherentinminedevelopmentandproducAon,geological,miningandprocessingtechnicalproblems,theinabilitytoobtainminelicenses,permitsandotherregulatoryapprovalsrequiredinconnecAonwithminingandprocessingoperaAons,compeAAonforamongotherthings,capital,acquisiAonsofreserves,undevelopedlandsandskilledpersonnel;incorrectassessmentsofthevalueofacquisiAons;changesincommoditypricesandexchangerates;currencyandinterestratefluctuaAons;variouseventswhichcoulddisruptoperaAonsand/orthetransportaAonofmineralproducts,includinglabourstoppagesandsevereweathercondiAons;thedemandforandavailabilityoftransportaAonservices;theabilitytosecureadequatefinancingandmanagement'sabilitytoanAcipateandmanagetheforegoingfactorsandrisks.Therecanbenoassurancethatforward-lookingstatementswillprovetobecorrect.

TheproducAontargetsreferredtointhisannouncementarebasedon74%In-pitIndicatedResourcesand26%InferredMineralResources.TheInferredResourcesdonotdeterminetheeconomicviabilityoftheproject,andapproximately80%ofresourceswithintheopAmisaAonpitshellsareintheIndicatedCategoryduringthepay-backperiod.ThereisalowlevelofgeologicalconfidenceassociatedwithInferredMineralResourcesandthereisnocertaintythatfurtherexploraAonworkwillresultinthedeterminaAonofIndicatedMineralResourcesorthattheproducAontargetsthemselveswillberealised.

TheScopingStudywaspreparedata±35%levelofaccuracy.

StatementsregardingplanswithrespecttotheCompany’smineralproperAesmaycontainforwardlookingstatements.Statements inrelaAontofuturemaUerscanonlybemadewheretheCompanyhasareasonablebasisformakingthosestatements.

CASSINIRESOURCESLIMITED(ASX:CZI|FWB:ICR) 3

•  MajormilestoneachievedwithposiAveScopingStudyoutcomessecuringfundingforNebo-BabelPFS

•  Significantopportunityexiststoaddfurthervalueovernext12-18monthsthrough:

»  RealisingidenAfiedupsideopportuniAesduringPFS

»  FurtherexploraAonsuccessbothwithinNebo-Babeldevelopmentandregionally

»  Improvingmacroenvironment

•  CZItomanageregionalexplora;onprogram–acAviAesandnewsflow•  AddiAonalhighqualityCZI100%ownedexploraAonsprojectsingold,zinc

andnickel/PGE/cosulphideswillbeprogressed

A Company On the Move

Well positioned to meet growing demand from EV and battery market

West Musgrave Project (Ni, Cu, Co, PGE)

Stage:PreFeasibility

NEBO-BABELDEPOSITS•  1MtofcontainedNiand1.1MtCu•  Openpit,lowoperaAngcost,longminelife

Earnin/JointVenture

Asset Portfolio

Mt Squires Project (Au) Stage:Explora;onShallow gold mineralisation •  50kmprospecAvestructuraltrend•  Historicaldrilling

–  15m@2.3g/tAufrom31m,including–  5m@4.7g/tfrom34m.

West Arunta Project (Zn) Stage:EarlyExplora;onEmerging project in a potential new zinc region •  35kmprospecAvehorizon•  Maidendrillprogramintersectedbroad

zincenrichedzones•  MulAplefollow-uptargets

Yarawindah Brook (Ni, Cu, Co, PGE) Stage:Explora;onMassive sulphide mineralisation •  “Walk-up”drilltargets•  Surfaceanomaliesnotyettested•  Geophysicsanddrillingin2018

100%CZIOwned

Stage:AdvancedExplora;on

SUCCOTHDEPOSIT•  936,000tofcontainedCu•  SignificantpotenAaltoincreaseresource

Stage:Explora;on•  40kmmineralisedcorridor•  MulApletargets

Significant exploration upside remains

West Musgrave Project

Stage EarninrequirementOZLinterestatendofStage Timeframe Operator Status

MinimumCommitment

•  A$3mfurtherscopingstudy•  2fullAmeOZMineralstechnicalstaff

0% Upto12months CZI Completed

Nov2017

Stage1•  A$15mexpendituretowardsPFS/DFS

•  A$4mregionalexploraAon51% Upto

18monthsOZLCZI

CommencedDec2017

Stage2•  A$10mexpendituretowardsDFS

•  A$4mregionalexpenditure70% Upto

12monthsOZLCZI

StagesandTermsofJVagreement

STAGE1KEYMETRICS•  OZMineralstocontribute$15MtoNebo-Babeldevelopmentand$4mtoregionalexploraAonwithin18months

•  CassinitomangeexploraAonspendandOZLtomanagePFS•  OZLearns51%atendofStage1

West Musgrave Project: OZ Minerals Earnin/Joint Venture

3 stage, A$36m funding to a “Decision to mine”

Nebo-Babel Prefeasibility Study – Opportunities to add value

•  Conversionofinferredresourcetoindicatedaddingsignificant“reportable”minelife

•  ImprovemetallurgicalrecoveriesthroughopAmisaAonandalternaAveflowsheets

•  OpAmisemineschedulingandstockpilemanagement

•  ReducepowercostsfurtherthroughaddiAonofwindenergytodiesel-solargeneratedpower

Targeted Outcomes

Indicative Project Development Timetable

West Musgrave Exploration

Nebo-Babel Targets – Positive Development Implications

•  SimilarcharacterisAcsto,andpotenAallyafault-offsetconAnuaAonoftheStartmeupShoot

•  DHEMplateBW3isthehighestconduc;vityanomalyintheNebo-Babelsystem

•  Previouslyintersectedbyasinglehole,WMN4049;»  25.1m@0.94%Ni,0.94%Cufrom311.6m

•  PotenAaltoaddanewsignificanthigh-gradeundergroundoropenpitcut-backopportunity

•  FundedaspartofPFS

BW3 Conductor - Startmeup Shoot Extension

Regional Exploration within the West Musgrave Project

•  ExploraAonstrategytoidenAfyhigh-grademineralisaAontosupplementNebo-Babeldevelopment

•  ExisAngpipelineofgreenfield,intermediateandadvancedprospects

•  Leveragingoffalargehistoricalgeologicaldatabase

•  SignificantscalewithNi+CumineralisaAonidenAfiedover40kmofstrike

•  Backtobasics:TherearesAllareaswheretherehasbeenliUleorineffecAveexploraAon

•  Programscommencingearly2018

Up to $8m in OZL funded regional exploration

Yappsu Prospect – A Nebo “look-a-like”

•  High-grademassiveandbrecciasulphideswithinbroaddisseminatedzones,similartoNebo,eg:

»  2.55m@2.42%Ni,0.48%Cuwithin

»  44.25m@0.49%Ni,0.48%Cu

•  ButallholeshavemissedthecoreofEMconductors!

•  ThereforepotenAalforhighergradeandthickermineralisaAonaswellassAllbeingopenupanddownplunge

•  NewMLEMsurveytoidenAfyextensionspriortodrilltesAng

One Tree Hill Prospect – a priority exploration target

•  15kmSEofNebo-Babeldeposits•  Only5holesdrilledtodate•  LowlevelPGEandCuanomalismis

widespreadincountryrocksrepresenAngapossiblehaloofalargesystem

•  BreakthroughinDec2016,intersectedtwomagmaAcmineralisedzones

•  CZD0017»  13.4m@0.85%Cufrom129.6m

»  34.0m@1.05%Cu&0.12%Nifrom332m;includingmassivesulphideof;3.2m@2.16%Cu,0.58%Ni,0.10%Co,1.0g/tPGEfrom344.85m

•  Geologicallyunconstrained•  PotenAalformorehigh-valuemassive

sulphidemineralisaAon

Succoth – A Sleeping Giant •  CurrentInferredresourceof156mt@0.6%Cu•  Notcurrentlyindevelopmentplans,butprovidesenormousleverageandflexibility•  ExploraAontargeAng:

»  Highergrade,thickzonesofmineralisaAonclosetosurface»  NickelmineralisaAonremainsafocus–apotenAalgamechanger

WMN4023–226.1m:1.96%Ni,0.13%Cu1.2g/tPt+Pd.Ni-richmassivesulphidefromBabylon(hostedinlatedoleritethereforeremobilised,butproximaltosource)

Other Exploration Projects (CZI 100%)

•  Large-scalegreenfieldsgoldproject•  SignificantmineralisaAonidenAfiedattheHandpumpProspect:»  15m@2.3g/tAufrom31m,incl5m@4.7g/tfrom34m»  12m@1.3g/tAufrom25m,incl5m@2.0g/tfrom25m

50km long structure with confirmed gold mineralisation

Mt Squires Project (Au)

•  MulAplenewtargetsidenAfiedwithnopreviousexploraAon

•  Allclearancesreceived•  Ongroundprogramscheduledearly2018

•  Early-stage,sedimentaryzincproject-firstmoveradvantageduetominimalhistoricalexploraAoninregion

•  MaidendrillprogramidenAfiedbroadzonesofsub-surfaceenrichmentinzincandassociatedelements

•  JanusProspect–gravityanomaly,primaryexploraAontarget

•  GroundgeophysicstoassisttargeAngin2018•  WellplacedtotakeadvantageofthestrongzincmarketcondiAonsandalackofhighqualityzincprojects

West Arunta Project (Zn)

Multiple prospective zinc targets across a 35km strike horizon

WestArunta,LakeMacKayregion,WA

Regionalprojects(projectowner)•  Tanami(NYSE:NEM)•  MacKaySOP(ASX:AMN)•  LakeMacKayJV(ASX:ABU,ASX:IGO)

•  Theseus(ASX:TOE)

•  EarlystagemassiveNi-Cu-Co-PGEsulphideproject

•  SignificantinterceptsnotfollowedupduetoGFC»  7m@1.29%Ni,0.21%Cu,0.06%Co

»  3m@2.70%Ni,0.80%Cu,0.19%Co

•  Anomaloussurfacerocksnottested–nogeophysics,nodrilling

•  Infrastructureadvantages–closetopower,transport&water

•  CassiniapplyinglearningsandexperAsefromWestMusgravetoasimilar,butunder-exploredproject

Yarawindah Brook (Ni+Cu+Co+PGE) CZI option to earn 80%

Increasing exposure to critical EV and battery metals

ü  Worldclassnickel+coppersulphideassetdevelopmentfundedbyASX100partnerOZMinerals

ü  CassiniisanacAvepartnermanagingexploraAonspend

ü  SignificantdiscoveryopportunityexistsatWestMusgravewithupto$8monfundedexploraAonofnext2stagesofJV

ü  Progressing100%ownedprojectsingold,zincandNickel/CoinWA

ü  HistoricalnickelheadwindsabaAng.Thefuturelooksbright

ü  2018exploraAonprogramaboutcommence

Cassini – Not just an awesome development story!

THANK YOU Visit us at Booth #23

www.cassiniresources.com.au

COMPANY PRESENTATION RIU EXPLORERS CONFERENCE 2018 · 21 February 2018 COMPANY PRESENTATION – RIU...

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