Clancy Exploration Limited 3 Corporation Place

Orange NSW 2800 Australia

Phone: (02) 6361 1285

Fax: (02) 6361 1202

www.clancyexploration.com [email protected]

ASX / MEDIA ANNOUNCEMENT

1 April 2016

RAMELIUS WITHDRAWS FROM THE CONDOBOLIN GOLD PROJECT IN NSW

Clancy Exploration Limited (ASX: CLY) advises that it has received notice from Ramelius Resources Limited (Ramelius) advising of its intention to withdraw from the Condobolin joint venture project.

Condobolin (EL7399) is located in the central west of NSW immediately north of the Condobolin township. It has a substantial mining history, predominantly as a base metals field (lead, zinc and copper), as well as gold. The mineralisation is hosted in epithermal-style quartz veins within the metasedimentary units of the Ordovician Girilambone Group.

Ramelius was earning 80% of the Condobolin project by funding A$2 million for exploration over four years. The ownership of the Condobolin Project will now revert 100% to Clancy. Clancy will seek a new partner for Condobolin.

Condobolin

Figure 1 - Map showing the location of Clancy's exploration projects in NSW with Condobolin highlighted.

-ENDS-

Clancy Exploration Limited (ASX: CLY) ASX / Media Announcement

The information in this announcement that relates to Initial Exploration Results is based on information compiled by Mr Gordon Barnes who is a Member of the Australian Institute of Geoscientists. Mr Barnes is a consultant to Clancy Exploration Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves". Mr Gordon Barnes consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Please direct enquiries to:

Nathan Featherby

Non-Executive Director Phone: +61 2 6361 1285

Email: [email protected] Web: www.clancyexploration.com

About Clancy Exploration

Clancy Exploration (ASX: CLY) is an Australian-focused copper, gold and base metals explorer. The Company's portfolio consists of copper-gold projects in the Lachlan Fold Belt of NSW where Clancy has 6 wholly owned and managed projects (following Ramelius' withdraw from Condobolin) and 1 joint venture project with Alkane Resources Ltd (ASX: ALK). This mix of Clancy and joint venture project funding allows a high level of exploration activity to be maintained, whilst prudently managing Clancy's financial resources. Details of Clancy's projects can be found at the Company's website: www.clancyexploration.com.