ASX ANNOUNCEMENT AND MEDIA RELEASE

6 July 2016

MINERALISED DOWNDIP EXTENSION CONFIRMED WITH STEP‐OUT HOLE

HIGHLIGHTS

• Namdini mineralised gold zone extended down dip with step‐out Diamond drilling

• 200m wide mineralised gold zone extends to 290m vertical depth

• Significant gold mineralised intersections within Section O include:

o 54m @ 2.00 g/t gold o 47.5m @ 1.30 g/t gold o 27m @ 1.56 g/t gold o 12m @ 2.61 g/t gold

Cardinal Resources Limited (ASX: CDV) ("Cardinal" or "the Company") is pleased to report the results of a down dip RC/Diamond drill hole, NMRD483‐749, recently completed on the Namdini Project ("Namdini"), Ghana (Figure 1).

This drill hole has enabled Section O to be compiled with a 200m wide gold mineralised zone extending to a 290m vertical depth (Figure 2). This mineralised section confirms the continuation of wide gold mineralisation at depth within the Namdini Project.

The potential of the Namdini Project to host a world‐class gold project continues to be confirmed by the intersection of long mineralised zones, including 54m @ 2.00 g/t Au, 47.5m @ 1.30 g/t Au and 27m @ 1.56 g/t Au.

Recently received assay results have enabled Section J to be compiled with a 300m mineralised zone within altered volcaniclastics, granitoids and diorites (Figure 5, Appendix 2 and Appendix 3).

The hydrothermally altered volcaniclastics, granitoids and diorites intersected in these drill holes are mineralised throughout which confirm that gold mineralisation is consistently being intersected along strike and at depth.

Infill Diamond drilling has been completed on 50m spacings, between previous 100m spaced Diamond drill sections, to confirm and enhance the gold mineralisation previously intersected within the volcaniclastics, granitoids and diorites (Figure 1).

Assay results are pending for a further 13 Diamond and 9 RC drill holes, which should provide a constant flow of results in the weeks ahead. The Company has divided up its core submissions between SGS Laboratories in Burkina Faso and Ghana to assist in accelerating receipt of assay results (Figure 1).

Figure 1: Location of drill holes within Section O and Section J

Figure 2: Drill Hole NMRD483‐749 with mineralised zone of 200m extending to 290m

NMRD483‐749 intersected 192m of gold mineralisation within hydrothermally altered volcaniclastics, granitoids and diorites from 100m to 292m vertical depths with multiple zones of mineralisation down the drill hole, including 7m @ 1.14 g/t, 27m @ 1.56 g/t, 12m @ 2.61 g/t and 3m @ 3.41 g/t, confirming continuity of mineralisation with depth (Figures 2 to 4).

Figure 3: Mineralised volcaniclastic and granitoid within 27m @ 1.56 g/t Au zone (NMRD483‐749)

Figure 4: Mineralised diorite with quartz veining within 12m @ 2.61 g/t Au zone (NMDD483‐749)

Figure 5: Section J (NMDD432‐740 and NMDD428‐758) showing a 300m mineralised zone)