White Cliff Minerals : New Gold and Copper Zones Identified 2-4 km East of Aucu

11 January 2019

ASX Code: WCN

New Gold and Copper Zones Identified 2-4 km East of Aucu

Highlights

• • New outcropping gold and copper zones identified 2-4 kilometres east of Aucu

• • Rock sample results include grades up to 6.7 g/t gold and up to 7.8% copper

• • Mineralised structures now identified and mapped over an 8km wide zone

White Cliff Minerals Limited ("White Cliff" or the "Company") is pleased to report that assay results have been received from the new mineralised structures identified 2-4 kilometres east of the Aucu Gold Project in the Kyrgyz Republic.

Mapping and rock sampling was conducted over a large area based on the results from the recent soil geochemistry sampling program (ASX release 9th December 2018). The mapping identified multiple new shear zones and assays of rock samples have identified significant gold and copper mineralisation with gold assays up to 6.7 g/t gold and copper assays up to 7.8% copper. The sampling confirms that the scale of the Aucu gold and copper system extends over at least 8 kilometres west to east and is still untested to the south.

Blue dashed lines are mapped mineralised zones yet to be drilled

Existing Inferred Copper Resource

17.2 Mt at 0.36% Cu for 64,000 t copper

6.7 g/t gold

Figure 1: Rock geochemistry (gold) highlights new mineralised zones identified east of the Aucu gold deposit and hints at additional mineralised porphyry intrusions.

White Cliff Minerals Limited ABN 22 126 299 125 Suite 2, 47 Havelock Street, West Perth WA 6005, PO Box 368 West Perth WA 6872.

Telephone [phone] Facsimile [phone]www.wcminerals.com.au

White Cliff Minerals Limited 1

Existing Inferred

Copper Resource

17.2 Mt at 0.36% Cu for

64,000 t copper

3% copper

5.4% copper

7.8% copper

Figure 2: Rock geochemistry (Copper) highlights new mineralised zones identified east of the Aucu gold deposit and hints at additional mineralised porphyry intrusions.

The copper and gold results are associated with both porphyry and the overlying sandstones. Mineralisation occurs as within shear zones in both lithologies and as a layer of thermally altered magnetite rich skarn that is sandwiched between the sandstone and porphyry.

The highest copper and gold results are associated with chalcopyrite and copper oxides (malachite and azurite) usually within shear zones cutting through the sandstones and porphyries.

Moderate copper grades (1-2% Cu) and lower gold grades (0.1-0.7 g/t Au) are associated with the magnetite rich skarn. Key results are summarised in Table 1.

Table 1: Key copper and gold results

Sample	Easting	Northing	Gold (ppm)	Copper (%)	Zinc (ppm)
CHPT18-14-02	701,575	4,624,578	6.70	0.02	42
CHPT18-15-06	700,715	4,624,831	2.11	1.21	150
CHPT18-15-08	700,546	4,642,777	1.86	5.47	8
CHPT18-15-09	700,539	4,624,783	2.99	0.21	26
CHPT18-15-10	700,413	4,625,002	1.63	0.01	9
CHPT18-16-01	700,724	4,625,437	0.13	1.54	6,551
CHPT18-17-01	701,556	4,625,426	1.54	1.44	264
CHPT18-17-02	701,605	4,625,435	1.13	1.83	734
CHPT18-17-06	701,794	4,625,534	1.03	1.80	162
CHPT18-17-07	701,636	4,625,507	0.54	1.89	884
CHT18E-01-06	699,591	4,625,098	0.09	1.48	217
CHT18E-02-12	699,606	4,625,088	0.46	3.04	740
CHPT18-01-01	696,076	4,626,666	2.18	0.14	8
CHPT18-03-03	699,606	4,625,091	0.38	7.82	188
White Cliff Minerals Limited 2

Geological Interpretation

The current geological interpretation is that the whole area is underlain by a larger mineralised system with an upper zone of structurally controlled epithermal gold mineralisation within a broad copper porphyry alteration zone.

Gold mineralisation now extends at least 8 kilometres from west to east and is currently open to the west, south and north. Copper mineralisation is currently associated with central porphyry and large alteration halo with the possibility that further mineralised porphyries have been identified to the east of Aucu.

Table 2: Rock chip sampling results

Sample	Easting
CHPT18-13-01	699,680
CHPT18-14-01	701,428
CHPT18-14-02	701,575
CHPT18-15-01	700,004
CHPT18-15-02	700,797
CHPT18-15-03	700,958
CHPT18-15-04	700,982
CHPT18-15-05	701,011
CHPT18-15-06	700,715
CHPT18-15-07	700,699
CHPT18-15-08	700,546
CHPT18-15-09	700,539
CHPT18-15-10	700,413
CHPT18-15-11	700,403
CHPT18-16-01	700,724
CHPT18-16-02	700,760
CHPT18-16-03	700,936
CHPT18-16-04	700,913
CHPT18-16-05	700,944
CHPT18-16-06	701,126	4,625,527	0.29
CHPT18-17-01	701,556	4,625,426	1.54
CHPT18-17-02	701,605	4,625,435	1.13
CHPT18-17-03	701,620	4,625,471	-	0.05
CHPT18-17-04	701,643	4,625,436	0.42
CHPT18-17-05	701,820	4,625,424	0.24
CHPT18-17-06	701,794	4,625,534	1.03
CHPT18-17-07	701,636	4,625,507	0.54
CHPT18-17-08	701,791	4,625,396	0.18
CHT18E-01-01	699,594	4,625,103	-	0.05
CHT18E-01-02	699,593	4,625,102	-	0.05
CHT18E-01-03	699,593	4,625,101	-	0.05
CHT18E-01-04	699,592	4,625,100	0.23
CHT18E-01-05	699,591	4,625,099	0.05
CHT18E-01-06	699,591	4,625,098	0.09
CHT18E-02-01	699,613	4,625,097	-	0.05
CHT18E-02-02	699,612	4,625,096	-	0.05
CHT18E-02-03	699,612	4,625,095	0.19
CHT18E-02-04	699,611	4,625,094	0.25
CHT18E-02-05	699,610	4,625,093	-	0.05
CHT18E-02-06	699,610	4,625,092	-	0.05
CHT18E-02-07	699,609	4,625,092	-	0.05
CHT18E-02-08	699,609	4,625,091	-	0.05
CHT18E-02-09	699,608	4,625,090	-	0.05

Northing 4,625,206

Copper (%)
0.00	5
0.06	145
0.02	42
0.00	13
0.02	12
0.02	32
0.01	13
0.01	10
1.21	150
0.01	67
5.47	8
0.21	26
0.01	9
0.00	9
1.54	6,551
0.21	143
4,625,580	-
4,625,625	-
4,625,576	-
0.63	332
1.44	264
1.83	734
0.63	1,092
0.29	207
0.60	140
1.80	162
1.89	884
0.28	52
0.02	125
0.04	126
0.03	92
0.73	222
0.19	95
1.48	217
0.05	156
0.04	166
0.01	13
0.02	38
0.01	63
0.01	80
0.00	35
0.00	31
0.00	37
White Cliff Minerals Limited 3

Gold (ppm)

Zinc (ppm)

• - 0.05

• -4,624,550 0.49

  4,624,578 6.70

  4,624,963 0.10

  4,624,577 0.26

  4,624,642 0.55

  4,624,640 0.60

  4,624,647 0.20

  4,624,831 2.11

  4,624,798

• - 0.05

  4,642,777 1.86

  4,624,783 2.99

  4,625,002 1.63

  4,625,013 0.14

  4,625,437 0.13

  4,625,500

• - 0.05

Sample	Easting	Northing
CHT18E-02-10	699,608	4,625,089	-	0.05
CHT18E-02-11	699,607	4,625,088	0.09
CHT18E-02-12	699,606	4,625,088	0.46
CHT18E-02-13	699,606	4,625,087	0.40
CHPT18-01-01	696,076	4,626,666	2.18
CHPT18-02-01	697,356	4,627,603	0.06
CHPT18-03-01	700,507	4,625,230	-	0.05
CHPT18-03-02	699,472	4,625,072	0.15
CHPT18-03-03	699,606	4,625,091	0.38
CHPT18-04-01	696,740	4,627,261	0.07
CHPT18-04-02	696,742	4,627,261	0.05
CHPT18-04-03	697,147	4,627,336	-	0.05
CHPT18-04-04	697,360	4,627,294	-
Current Exploration

Gold (ppm)	Copper (%)	Zinc (ppm)
0.01	130
0.27	206
3.04	740
0.71	274
0.14	8
0.09	1,222
0.05	477
0.01	18
7.82	188
0.02	56
0.27	1,441
0.00	24
0.09	34

Due to heavy winter snows and ice build-up on the roads the Company has unable to safely conduct drilling on the main targets and so has concentrated on testing the gold potential along the floor of the main valley. The cost of drilling through frozen gravels to obtain small samples has proven prohibitive so the Company has opted to used excavators to bulk sample the alluvial material. Prior to winter closing access to the Chanach valley the Company completed 13 bulk samples to 5 metres depth with each hole consisting of approximately 35 cubic metres. Each metre in depth was sampled separately and assessed for alluvial gold, and rock and clay particle size distribution. 40-60 kilogram sub-samples were collected and manually panned down to a concentrate. These samples will be submitted to the laboratory for analysis shortly.

Project Background: Aucu Gold Deposit

The Aucu gold deposit currently contains an Inferred Gold Mineral Resource above a cut-off grade of 1 g/t gold of 2.95 Million tonnes grading 5.1 g/t gold for 484,000 ounces of contained gold. The new resource reported in May 2018 represented a 60% increase in contained gold over the previously reported April 2017 inferred gold resource.

The project also contains an Inferred Copper Mineral Resource of 17.2Mt at 0.36% copper containing 64,000 tonnes of copper.

The drilling defining these resources has tested less than 5% of the identified mineralised structures and is currently open in all directions. The exploration carried out in this announcement has identified substantial additional potential over a large area on the eastern side of the project with rock chip samples of outcropping shear zones, veins and skarn alteration carrying gold grades of up to 6.7 g/t gold and 7.8% copper. As yet, no exploration has been conducted to the south or to the west of the main porphyry system.

In addition to the hard rock potential, the Company has identified visible gold in the alluvial river gravels that extend 16 kilometres from west to east across the Aucu project area.

For further information please contact:[e-mail]

Todd Hibberd Managing Director [phone] Suite 2, Level 1,

47 Havelock Street, West Perth WA 6872

White Cliff Minerals Limited 4

Resource Map: Location map of drilling showing Inferred gold resources (red hatch) that represent less than 5% of the identified mineralised faults. 95% of the mineralised faults identified by rock chip sampling are still to be drilled (dashed blue and green lines)

Location Map: Northwest Kyrgyz Republic, Central Asia

White Cliff Minerals Limited 5