Ann: IP Survey Significantly Enhances Exploration Potential, page-2

And so it begins .

Calidus Geophysics Survey Significantly Enhances Warrawoona Exploration Potential New target identified parallel to 1.15Moz Klondyke deposit
HIGHLIGHTS
 Strong chargeability anomaly modelled across the Highway Shear immediately adjacent to the 1.15 million ounce Klondyke Mineral Resource;
 IP modelling indicates mineralised structures are sub‐vertical and remain open at depth;
 Drill testing of geophysical targets planned for second half of this calendar year;
 Regional drilling programme completed, results pending;
 Resource infill drilling commenced;
 PFS on track for delivery in July 2019
Calidus Resources Limited (ASX: CAI) is pleased to announce strong results from the recent Induced Polarisation (IP) survey at its Warrawoona gold project in WA’s Pilbara. Calidus Managing Director Dave Reeves said the results highlighted the potential for further growth in the 1.25Moz Resource at Warrawoona, which will further underpin the project’s production profile, mine life and economics. The IP reconnaissance programme highlighted a parallel shear 400m south of Klondyke buried at a depth of approximately 60‐80m with similar chargeability signatures to the 1.15Moz Klondyke deposit. This reinforces Calidus’ view that the deposit represents a much larger system than current drilling suggests. “The IP traverses show a clear correlation between gold mineralisation and IP anomalism and we are excited to further examine the strong Klondyke‐style chargeability anomaly identified over the Highway Shear which has never been drilled,” Mr Reeves said. “As the Highway Shear is located immediately adjacent to the planned 2km‐long open pit and underground being contemplated in the PFS, we will undertake drilling here in Q3 as a priority.”