ASX ANNOUNCEMENT AND MEDIA RELEASE

27 March 2017

VAN ECK CORPORATION INCREASES HOLDING TO 8.49%

Cardinal Resources Limited (ASX: CDV) ("Cardinal" "the Company") is pleased to announce that Van Eck Corporation ("Van Eck") from New York, USA has increased its holding in Cardinal.

Van Eck held an equity position of 7.42% and has now increased its holding to 8.49% buying on market since Cardinal's "Interim Metallurgical Update" was announced on the ASX platform.

Archie Koimtsidis, CEO/MD of Cardinal, said:

"We are very pleased with Van Eck's continued support in Cardinal as a key institutional investor and a substantial shareholder of the Company.

"In particular, we would also like to thank their Technical Team and most Senior Management. "Their shareholding supports the tremendous potential of our Namdini Project."

For further information contact:

Archie Koimtsidis Managing Director

Cardinal Resources Limited

P: +233 (0)26 190 52 20

Skype: cardinal.archie

Cardinal Resources Limited ABN 56 147 325 620

www.cardinalresources.com.au

Ghana: Durugu Residential Area, Kumbosco, Bolgatanga, Ghana P: +233 (0) 261905220 SKYPE: cardinal.archie 1 Australia: Level 1, 115 Cambridge Street, West Leederville, Perth, 6007 P: +61 (8) 9322 6600 F: +61 (8) 9322 6610

Cardinal Resources Limited published this content on 27 March 2017 and is solely responsible for the information contained herein.
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