Cazaly to Proceed with Kaoko Kobalt Project

• Due Diligence completed and transaction to proceed
• Project located in the Kunene Cobalt Province, Northern Namibia
• Hosts the probable continuation of Celsius Resources’ Opuwo cobalt –copper bearing ‘DOF’ horizon
• Project contains ~27km of prospective potential DOF equivalent in three areas
• Project includes a very large ~20km x 5km long Cu-Co soil anomaly at the Kamwe prospect – potential DOF Cu-Co source?
• Numerous, widespread base metal occurrences
• Next steps to set up local team and begin initial field work

Cazaly Resources Limited is pleased to announce that it has finalised its due diligence into the Kaoko Kobalt project which is primarily prospective for copper-cobalt mineralisation (“the Project”). Details of the project and deal were previously announced by the Company to the ASX on the 26th March, 2018. The due diligence confirmed the potential of the project and did not encounter any issues to preclude the deal proceeding. Accordingly, the Company will proceed to finalising the transaction which will see it having the right to earn a 95% interest in the project.

Cazaly to Proceed with Kaoko Kobalt Project