Crusader Resources : Juruena’s 2nd Prospect Delivers Bonanza Gold Grades

• First holes have been received from core drilling at Dona Maria, with bonanza gold results including:

  • 1.50m @ 141.36 g/t gold from 45m in hole MD‐06;

  • 4.00m @ 8.00g/t gold from 96m (including 1m @ 27.99 g/t) in MD‐06; and

  • 4.00m @ 3.98 g/t gold from 77m (including 1m @ 11.09 g/t) in MD‐06

• Traces of gold were observed in the core during the geological logging process with bonanza grades indicating gold was associated with intense sericite/chlorite/pyrite alteration

• In hole MD‐09, located directly below MD‐06, significant gold in the core has also been observed as demonstrated in Figure 1 below. There are no assays available yet for hole MD‐09

• Querosene geological logging has also recorded gold in hole QD‐044 at 148.15m (see Figure 2) ‐no assays are available as yet

• A total of 7,722m were completed to finalise the Juruena drilling program

• All projects located within 2km of each other and provide significant justification for Crusaders view that Juruena represents a district of Gold projects with a uniquely high grade profile.

Brazil‐focused, resource development company Crusader Resources (ASX: CAS) ("Crusader" or "the Company") is pleased to announce bonanza gold results from the resource‐infill and expansion drilling program at the Dona Maria prospect at its 100% owned high‐grade Juruena Gold Project.

The current Drilling program at Juruena has now completed a total of 7,722m, with 38 holes at Querosene, 14 holes at Dona Maria, 7 holes at Tomate and 4 holes at Mauro.

Commenting on the drill program, Crusader Resources' Managing Director Rob Smakman said: "logging visual gold in the drill core at Dona Maria and Querosene is a real thrill for our team and it's great to get some encouraging results from the early holes at Dona Maria. We have also observed interesting alteration at both Mauro and Tomate and are very much looking forward to the results from these new prospects. We continue to believe that Juruena is more about the multiple targets that will hopefully be developed as part of new district gold play.

Figure 1: Visible Gold in drill‐hole MD‐09‐2016 at ~133.3m depth. Gold appears concentrated along fractures in an intensely altered dyke. There was also minor gold observed at 128.75m. Laboratory assays for this section is expected in coming weeks.

Figure 2: Gold in drill‐hole QD‐044 at 148.15m from the Querosene prospect. Zone is an intensely altered 'hydrothermalite' with minor quartz and disseminated sulphides. No assays are available for this interval.

The drill program initially targeted the Querosene and Dona Maria prospects, in order to convert inferred resources into indicated or better. Crusader is looking forward to updating the resources at these targets as soon as results have been received from the drilling.

The Juruena Project (~400 km2 of contiguous tenements) is located in Central Brazil on the southern fringe of the Amazon Basin. Situated on the western end of the prospective Juruena‐Alta Floresta gold belt (estimated to have produced

~7Moz Au), Juruena has been explored extensively by artisanal miners since the 1980's, producing an estimated 500koz of gold.

Figure 3: Juruena gold District with various prospects.

Dona Maria Prospect

Dona Maria is located adjacent to the Crentes prospect, approximately 1 kilometre along the Juruena fault zone from Querosene (see Figure 3). Mineralisation at Dona Maria is perpendicular to the main Crentes trend (WNW) toward the NNW. There is a broad, relatively shallow garimpo working over the mineralised trend and historical intercepts indicate both very high‐grade narrower intercepts and broad, moderate grade disseminated intervals. (See Figure 4).

The high‐grade intercept (1.50m @ 141.35 g/t) recorded in hole MD‐06 was shallower (from 45m down hole) than expected and could indicate multiple mineralised zones at Dona Maria (see Figure 5). There are two subsequent intervals in MD‐06 which better match the expected mineralised zone, final interpretation will only be possible once results from MD‐09 are received and reported. Additional sampling in hole MD‐06 and MD‐09 will be performed to ensure no mineralised zones are missed, however the alteration associated with the mineralisation is visible and typically predictable once logged.

The cross section with holes MD‐06 and MD‐09 is approximately 30m to the south of some of the best historical drill results from Dona Maria, which include 8m @ 64 g/tm in MR‐010 and 5.8m @ 52.4 g/t and 10.5m @ 14.6 g/t in J‐07. Further results from this region are eagerly anticipated and will form a critical part of the planned update to the mineral resource estimate.

A total of 14 holes for 1,787m were completed at Dona Maria and results will be presented as they come to hand.

Figure 4; Drill plan for Dona Maria showing the western end of Crentes prospect. Dona Maria strikes NNW and appears to dip near vertically.

Figure 5: Cross‐section 90,150mN at Dona Maria. Hole MD‐06 returned multiple zones of mineralisation and significant visible gold was observed in core for hole MD‐09. Assays for MD‐09 not yet available and are expected in coming weeks.

Querosene Prospect

The Querosene prospect is located on the eastern end of the Juruena Project area and was the first prospect targeted in the Crusader 2015 and 2016 drilling campaigns, due to consistent high‐grade drilling results from previous explorers.

Results released today include several batches with results from a key hole‐ QD‐41. QD‐41 which returned 0.70m @

6.00 g/t Au from 102m, is located in the centre of the Querosene orebody and completes the most impressive section across Querosene‐ see Figures 6 & 7 below.