Ann: Fraser Range Update, page-2

•IGO exercises its rights to acquire 51% of the Fraser Range Tenements•IGO to spend a further $1,000,000 to take joint venture interest to 70%Classic Minerals Limited (ASX:CLZ)(the Companyor Classic) is pleased to announce that, in accordance with the terms of its Earn In and Joint Venture Agreement (Agreement) with IGONewsearch Pty Ltd, a wholly-owned subsidiary of IGO Limited (ASX:IGO) (together, IGO)(CLZ announcement to ASX dated 17 June 2019 refers), IGO has notified Classic ofa)its election to acquire a 51% interest in the Company’s Fraser Range tenements (Tenements), having earnt that interest by spending $1,500,000 on exploration of the Tenements; and(b)its intention to spend a further $1,000,000 exploring the Tenementsover the next 2 years to take its joint venture interest to 70%.Under the terms of the Agreement, uponthe transfer of the 51% interest, IGO will pay Classic $500,000.This announcement has been approved bythe Board.