Perth, Australia (ABN Newswire) - Cardinal Resources Limited (ASX:CDV) (OTCMKTS:CRDNF) ("Cardinal" or the "Company") is pleased to announce that Commonwealth Bank of Australia (ASX:CBA) ("CBA") and its related bodies, which includes Colonial First State, has become a substantial shareholder of Cardinal through on-market purchases.

CBA became a substantial shareholder of Cardinal on 18 May 2017 with an ordinary shareholding of 5.01%.

Archie Koimtsidis, MD/CEO of Cardinal, said:

"We welcome CBA and their team at Colonial First State as a substantial shareholder of the Company. Their investment confirms the tremendous potential of our Ghanaian Projects."



About Cardinal Resources Ltd:

Cardinal Resources Ltd (ASX:CDV) (OTCMKTS:CRDNF) 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. Cardinal has its operational base located within close proximity to the Bolgatanga Project in North East Ghana and has its corporate office located in Perth, Western Australia.



Source:

Cardinal Resources Ltd



Contact:

Archie Koimtsidis
MD / CEO
Cardinal Resources Limited
P: +61-8-6558-0573