Crusader Resources : London Investment Bank Initiates Research on Crusader

London Investment Bank Initiates Research coverage on Crusader Resources

Crusader Resources Limited (ASX:CAS) ("Crusader" or the "Company") is pleased to advise that leading London‐based Investment Bank Hannam and Partners has completed an Initiation Research Report on the Company.

The Report, entitled Crusader Resources ‐ Creating a Mid‐Tier Gold Miner, highlights the development strategy for the Company's flagship Borborema Gold Project in North Eastern Brazil, ongoing exploration programs and the outlook for the Company over the next 12 months.

A full copy of the report can be found on the following link at the Company's website:http://www.crusaderresources.com/investor‐relations/broker‐reports‐2/

DISCLAIMER

This information is produced by a third party (third party information). It may contain information about the activities of Crusader and its subsidiaries (Group) but it does not purport to be a complete description of the Group and/or its various business activities. No representation or warranty, express or implied is made by any person including Crusader or its directors, officers, employees, advisers, agents or affiliates as to the fairness, accuracy, completeness, or correctness of the information, opinions and conclusions contained in this Third Party Information, or the reasonableness of any assumptions, forecasts, prospects or returns contained in, or implied by, this Third Party Information or any part of it. Crusader assumes no liability and has no obligation to tell recipients if it becomes aware of any inaccuracies in or omissions from Third Party Information.

Except for statutory liability which may not be excluded, no responsibility is accepted by Crusader or any of its directors, officers, employees, advisers, agents or affiliates for any loss or damage howsoever occurring (including through negligence) resulting from the access, use or reliance upon any Third Party Information by any person, and such access, use or reliance is solely at your own risk. You are responsible for forming your own opinions and should seek your own independent professional advice in relation to Third Party Information. In particular, you are cautioned not to place undue reliance on any forward‐looking statements, forecasts or views as to prospects in any Third Party Information, as there can be no assurances that actual outcomes will not differ materially from such forward‐looking statements.

For further information, please contact:

Mr. Paul Stephen

Executive Director

Office (Aus): +61 8 9320 7500 Email:paul@crusaderresources.com

Investor Relations

Office (Aus): +61 8 9320 7500

Email:admin@crusaderresources.com

Camarco (Gordon Poole / Nick Hennis) Financial PR

Office: +44(0)20 3757 4997 / +44(0)20 3781 8330

About Crusader

Crusader Resources Limited (ASX:CAS) is a minerals exploration and development company listed on the Australian Securities Exchange. Its major focus is Brazil; a country Crusader believes is vastly underexplored and which offers high potential for the discovery of world class mineral deposits.

Crusader has two key Gold Assets;

Borborema Gold Project

The Borborema Gold Project is in the Seridó area of the Borborema province in north‐eastern Brazil. It is 100% owned by Crusader and consists of three mining leases covering a total area of 29 km2 including freehold title over the main prospect area.

The Borborema Gold Project benefits from a favourable taxation regime, existing on‐site facilities and excellent infrastructure such as buildings, grid power, water, sealed roads and is close to major cities and regional centres. The project's Ore Reserve includes Proven and Probable Ore Reserves of 1.61Moz of mineable gold from 42.4Mt @ 1.18g/t (0.4 & 0.5g/t cut‐offs for oxide & fresh). The measured, indicated and inferred Mineral Resource Estimate of 2.43Moz @ 1.10g/t gold, remains open in all directions.

Juruena Gold Project

The Juruena Gold Project is located in the highly prospective Juruena‐Alta Floresta Gold Belt, which stretches east‐west for >400km and has historically produced more than 7Moz of gold from 40 known gold deposits. Historically there is a database of more than 30,000 meters of drilling and extensive geological data.