Cardinal Resources Ltd.: Hits More High-Grade Shallow Gold at Ndongo East

Perth, Australia - Cardinal Resources Ltd. (ASX:CDV) (TSE:CDV) ("Cardinal" or "the Company") is pleased to announce that first drilling results following the recent wet season have commenced, intersecting further high-grade and shallow gold ineralisation at the new Ndongo East discovery. Importantly, the Ndongo Prospecting License is located only 24km north of the Company's Namdini Gold Project for which Cardinal declared a Maiden Probable Ore Reserve of 4.76Moz on the 18 September 2018 (see Figure 1 in link below).

Highlights

- Today's high-grade gold intersection from Ndongo East includes:

o 14m @ 7.0 g/t Au from 69m in NDDD046 (including 2m @ 42.2g/t from 80m)

- Previous high-grade gold intersections from Ndongo East included:

o 9m @ 23.3 g/t Au from 60m in NDRC248*

o 7m @ 4.4 g/t Au from 14m in NDRC216*

o 6m @ 12.6 g/t Au from 2m in NDRC275*

o 3m @ 29.3 g/t Au from 45m in NDDD036*

*Refer to press releases dated 16 July 2018 and 29 August 2018 on Ndongo East

- Gold mineralisation demonstrated over a strike length of approximately 1.2km at Ndongo East;

- Drilling has encountered multiple intercepts of near-surface mineralisation;

- Drilling is ongoing and will continue to evaluate the strike and depth extension of the Ndongo East mineralised system;

- Additional parallel mineralised structures striking NE-SW remain to be evaluated by drilling and provide high priority drill targets;

On 16 July and 29 August 2018, Cardinal reported several intersections of high-grade gold at its new Ndongo East discovery within the Ndongo Prospecting License and has now intersected further high-grade gold in recently completed diamond drilling which has recently re-commenced following the wet season. It is planned to steadily ramp up exploration as ground conditions improve and drilling results are interpreted.

Cardinal's Chief Executive Officer / Managing Director, Archie Koimtsidis commented:

"We are increasingly encouraged at how Ndongo East is evolving. This new discovery has the potential to add further high-grade gold ounces to our Maiden Probable Ore Reserve of 4.76Moz within the Namdini Gold Project located 24km to the south.

"The Ndongo East discovery is particularly encouraging with the initial 450m strike length of strong, shallow gold mineralisation still open along strike and at depth (see Figures 2 and 3 in link below).

"Beyond this initial mineralised zone, a further 750m of gold mineralisation has been intersected along strike towards the south west, which appears to be extending the overall gold mineralisation of the Ndongo East discovery to approximately 1.2km (see Figure 2 in link below).

"The Ndongo East prospect lies within a larger target area of approximately 7km in length that has yet to be drill tested. We have now recommenced drilling after the 2018 wet season with further results pending".

Ndongo Prospecting License

The Ndongo Prospecting License covers an area of 295 km2 and is considered highly prospective for the discovery of economic gold mineralisation associated with the prolific Nangodi Shear Zone, a splay fault off the main regional-scale Bole-Bolgatanga Shear. Elsewhere, the Nangodi Shear Zone is spatially related to no fewer than four gold discoveries, including the Company's Namdini Gold Project with a 4.76Moz Probable Reserve, the Shaanxi Gold Mine, the historic Nangodi Gold Mine and the 2.1 Moz Youga Gold Mine in Burkina Faso, adjacent to the Ghanaian border. In addition, there are numerous historic shallow artisanal workings along many parts of this shear zone ~15 to 25 km north of the Namdini Gold Project (see Figure 1 in link below).

Ndongo East Prospect

The Ndongo East Prospect is located within NE-SW trending Birimian metavolcanics and metasediments. Gold mineralisation is developed mostly along diorite-granodiorite contact zones where competency contrasts create brittle fracturing allowing the ingress and precipitation of gold mineralising fluids (see Figures 2 and 3 in link below). The mineralised horizons contain variable chlorite-silica-carbonate-sericite alteration with sulphides (mainly pyrite with very minor arsenopyrite).

Previously announced drilling intersected higher-grade mineralised structures concentrated in the northern portion of the shear zone, over a 450m strike length with coincident gold-in-soil and geophysical targets. Subsequent RC drilling along fence lines further to the southwest along strike and at depth to test for mineralisation has proven encouraging with further high-grade intercepts within the mineralised structures. This indicates that the mineralised system is open along a NE-SW strike and at depth with multiple mineralised intersections. The furthest drill fence to the southwest intersected 2m at 27.0 g/t Au from 10m downhole in NDRC247 which suggests a strike potential up to 1.2km of mineralised structures. (refer to Cardinal's ASX/TSX Press Release 29 August 2018 "Cardinal Extends Ndongo East Discovery Strike Length").

Additional diamond drilling is continuing at Ndongo East to test the strike and depth extents of the mineralised system and to evaluate the structural components of the various lithological units.

Drill holes for this release are detailed in Schedule 1, Tables 1 and 2 below (see link below).

To view tables and figures, please visit:
http://abnnewswire.net/lnk/41813Q3O

About Cardinal Resources Ltd:

Cardinal Resources Ltd. (ASX:CDV) (TSE:CDV) (OTCMKTS:CRDNF) is a West African gold-focused exploration and development Company that holds interests in tenements within Ghana, West Africa.

The Company is focused on the development of the Namdini Project with a Maiden Ore Reserve of 4.76Moz and is now advancing the feasibility study.

Exploration programmes are also underway at the Company's Bolgatanga (Northern Ghana) and Subranum (Southern Ghana) Projects.

Source: Cardinal Resources Ltd.



Contact:

Archie Koimtsidis CEO / MD Cardinal Resources Ltd. P: +61-8-6558-0573 Alec Rowlands IR / Corp Dev Cardinal Resources Ltd. P: +1-647-256-1922 Bettina Filippone Renmark Financial Communications Inc E: bfilippone@renmarkfinancial.com P: +1-416-644-2020 or +1-514-939-3989 Peta Baldwin / Andrew Rowell Cannings Purple E: pbaldwin@canningspurple.com.au P: +61-455-081-008 (PB) / +61-400-466-226 (AR)