Classic Minerals Limited: High Grade Gold Results Confirmed at Lady Ada

Perth, Australia - WA-focused gold exploration and development company Classic Minerals Ltd. (ASX:CLZ) is pleased to announce that it has finally received assays results from a small program of RC drilling conducted in November 2021 at its Forrestania Gold Project (FGP) in Western Australia. The Company completed a total of 13 holes for 1,419 metres at Lady Ada and Lady Magdalene.

Significant results from the latest drilling program are tabled below*.

Classic has received assay results from its latest RC drilling program completed back in November 2021. The drilling program consisted of 13 RC holes for 1,419m from both Lady Ada and Lady Magdalene.

Lady Ada RC drilling

A program of 5 RC holes (MARC076-080) for 644m were completed in a small portion of the known inferred resource covering an area approximately 50m along strike to the south-east of the Lady Ada open pit. The holes were designed by independent resource geological firm Cadre Geology and Mining Pty Ltd to test existing high-grade intercepts from historical drillholes to compare old assay data with new assay data prior to further resource upgrade work.

Better results from Lady Ada infill RC drilling include:

- 7m @ 5.42g/t Au from 44m including 1m @ 22.10g/t Au from 48m in MARC076.
- 2m @ 7.75g/t Au from 118m including 1m @ 14.30g/t Au from 119m in MARC078.
- 5m @ 27.76g/t Au from 101m including 1m @ 74.80g/t Au from 104m in MARC079.
- 2m @ 14.27g/t Au from 110m including 1m @ 23.90g/t Au from 111m in MARC080.

Lady Magdalene Infill RC Drilling

A program of 8 RC holes (MARC081-088) for 775m were completed within a larger portion of the known Lady Magdalene inferred resource covering an area approximately 250m along strike. The Lady Magdalene inferred resource is located approximately 700m north of the Lady Ada open pit. The holes were again designed by Cadre Geology and Mining Pty Ltd to test existing high-grade intercepts from historical drillholes to compare old assay data with new assay data prior to further resource upgrade work.

Better results from Lady Magdalene infill RC drilling include:

- 13m @ 1.22g/t Au from 55m in MARC081
- 6m @ 2.90g/t Au from 37m in MARC082.
- 8m @ 3.30g/t Au from 28m in MARC084.
- 24m @ 1.20g/t Au from 43m in MARC084.
- 7m @ 1.34g/t Au from 48m in MARC085.
- 16m @ 1.79g/t Au from 60m in MARC085.
- 7m @ 1.55g/t Au from 69m in MARC086.
- 5m @ 2.02g/t Au from 93m in MARC087.
- 6m @ 1.86g/t Au from 45m in MARC088.

Classic will be heading back to Forrestania in late April to conduct further infill drilling if directed by independent resource geologists Cadre.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/XFT2N31X

About Classic Minerals Limited:

Classic Minerals Ltd. (ASX:CLZ) is an exploration and development company focused on gold deposits in Western Australia's famous Goldfields region. In March 2017, Classic acquired the Forrestania Gold Project, with seven tenements stretching across 450km2. Strategically located in a very prospective region, the FGP is an underexplored package surrounded by multimillion ounce deposits such as Bounty (2Moz) and Yilgarn Star (1.5Moz).

Source:
Classic Minerals Ltd.

Contact:

Classic Minerals Ltd. T: +61-8-6305-0221 E: contact@classicminerals.com.au WWW: www.classicminerals.com.au