Ann: Mineralised Zone Extended to 11 km at Opuwo Cobalt Project, page-3

MINERALISED ZONE EXTENDED TO 11 KM AT OPUWO COBALT PROJECT
HIGHLIGHTS

• Cobalt-copper mineralisation now confirmed by assays over approximately 11 km of strike.

• Drilling in progress at the Western Zone, where higher grade cobalt mineralisation
(up to 4,300 ppm, or 0.43%) has been identified at surface.

• Highest grade cobalt intercept to date in DOFR12.
Results include:
 5 m @ 0.20% cobalt and 0.52% copper (DOFR12)
 6 m @ 0.13% cobalt and 0.37% copper (DOFR14)
 5 m @ 0.12% cobalt and 0.66% copper (DOFR19)

• Mineralisation continues to return low levels of deleterious elements such as arsenic, cadmium and uranium.
• Reverse Circulation (RC) drilling continuing across 30 km of prospective strike extent.
Further assay results pending.
• Diamond drilling to commence later this month, providing samples for first pass metallurgical testing.
• Metallurgical testing program, preliminary mining studies and
resource definition drilling planned to provide input into Project Scoping Study,
with completion before the end of 2017.

Celsius Managing Director, Brendan Borg commented:
“The assay results from Opuwo continue to demonstrate that an extensive mineralised system is present at the Project.
Drilling is underway in the western sector of the Project,
where the highest grades of cobalt were identified in surface samples and trenches.”