Classic Minerals Limited: Licensed to Drill Second Water Bore

Perth, Australia - Gold development company Classic Minerals Ltd. (ASX:CLZ) (FRA:2I7) (OTCMKTS:CSMRF) announces that the Department of Water and Environmental Regulation (DWER) has granted the Company a Licence to drill a second groundwater bore for Kat Gap Gold Project. Under the Licence to Take Water Instrument number: GWL207298, Classic is permitted to extract an annual amount of 100,000Kl of water.

The grant of this additional water bore licence will secure access to water to support the processing and operational needs of the Kat Gap Gold Project. The total abstraction limit, of 100,000Kl per annum, still applies but will now be covered by the 2 bores. This will provide security of supply for the Kat Gap gold project. Classic Minerals Ltd. is committed to responsible and sustainable mining practices, and these licences will ensure the project's water requirements are met in an environmentally conscious manner.

The water will be used for processing, dust suppression, and development activities within Classic Minerals' Kat Gap Gold Project.

Classic Minerals Ltd. has achieved another significant milestone by successfully submitting the Tailings Storage Facility (TSF) Critical Containment Infrastructure Report for the Kat Gap gold Project, meeting the requirements set by DWER.

This submission is a crucial step in obtaining the necessary licensing for the Kat Gap processing facility's TSF. The company's meticulous preparation and submission of the report highlight its dedication to environmental and regulatory compliance, ensuring the safe containment and management of tailings throughout the project's operation.

With the TSF report submitted, Classic Minerals Ltd. can commence utilising the facility while the processing plant undergoes commissioning and processes the bulk sample ore. This uninterrupted operation allows for a smooth transition during the commissioning phase. The certified TSF enables efficient and environmentally safe management of the tailings.

Mr. Dean Goodwin, CEO of Classic Minerals, stated: "Water always has been a significant challenge for any mining and processing operation. We now can rely on a secure water source for Kat Gap."

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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