ASX RELEASE 24 Oct 2017 Stratex Update - Shareholder Meeting

As previously announced by Crusader Resources Limited (ASX: CAS) (Crusader), Stratex International plc (Stratex) has received a notice from a group of its shareholders requisitioning Stratex to convene a General Meeting to consider certain resolutions, including for the proposed merger with Crusader to be terminated. Please refer to Crusader's announcement of 20 September 2017 for further detail.

Stratex has today released an announcement on AIM in relation to the requisitioned shareholder meeting. This announcement can be viewed on the Stratex International plc website or on the AIM platform.

For further information, please contact: Mr. Rob Smakman Mr. Paul Stephen Managing Director, Brazil Executive Director, Australia

Office (Brazil): +55 31 2515 0740 Office (Aus): +61 8 9320 7500

Email: rob@crusaderdobrasil.com Email: paul@crusaderresources.com

About Crusader

Crusader Resources Limited (ASX:CAS) is a minerals exploration and mining 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 three key assets:

Juruena Gold

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.

The Juruena Project has been worked extensively by artisanal miners (garimpeiros) since the 1980s, producing ~500koz in that time. Historically there is a database of more than 30,000 meters of drilling and extensive geological data.

Borborema Gold

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 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.

Competent Person Statement

The information in this announcement that relates to the Mineral Resource estimate for the Borborema Gold project was first reported in accordance with ASX Listing Rule 5.8 on 24 July 2017. Crusader confirms that it is not aware of any new information or data that materially affects the information included in the announcement of 24 July 2017 and that all material assumptions and technical parameters underpinning the Mineral Resource estimate continue to apply and have not materially changed.

The information in this announcement that relates to the Ore Reserve estimate for the Borborema Gold Project was first reported in accordance with ASX Listing Rule 5.9 on 24 July 2017. Crusader confirms that it is not aware of any new information or data that materially affects the information included in the announcement of 24 July 2017 and that all material assumptions and technical parameters underpinning the Ore Reserve estimate continue to apply and have not materially changed.

The information in this announcement that relates to the Mineral Resource estimate for the Juruena Gold project was first reported in accordance with ASX Listing Rule 5.8 on 22 December 2016. Crusader confirms that it is not aware of any new information or data that materially affects the information included in the announcement of 22 December 2016 and that all material assumptions and technical parameters underpinning the Mineral Resource estimate continue to apply and have not materially changed.

Crusader Resources Limited published this content on 24 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 October 2017 06:37:00 UTC.

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