Perth, Australia (ABN Newswire) - Cardinal Resources Limited (ASX:CDV) ("Cardinal" "the Company") is pleased to announce that Van Eck Associates Corporation ("Van Eck") from New York has increased its holding in Cardinal to 6.32%.

Van Eck become a substantial shareholder of Cardinal on 30 November 2016 with an equity position of 5.28%, since this time Van Eck has increased its holding to 6.32%.

Archie Koimtsidis, Managing Director 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.

"Their shareholding supports the tremendous potential of our Ghanaian Projects."



About Cardinal Resources Ltd:

Cardinal Resources Ltd (ASX:CDV) is a focused gold exploration and development company with its key assets located in the mineral-rich country of Ghana, West Africa. Cardinal owns and operates 2 drill rigs and has in country infrastructure which allows it to be a low cost exploration and development company.



Source:

Cardinal Resources Ltd



Contact:

Archie Koimtsidis
Managing Director
Cardinal Resources Limited
P: +233-26-190-5220
Skype: cardinal.archie