ORE RESERVES FOR PANDA HILL DECLARED

13 June 2016. ASX Release ASX code : CXX. ORE RESERVES FOR PANDA hill DECLARED . Highlights PANDA hill Ore RESERVES - million tonnes at average grade Nb2O5. All mill feed within first 10 years of the planned production schedule are now classified as Ore RESERVES Cradle Resources Limited ( Cradle ) is pleased to announce the maiden Ore reserve Estimate for the PANDA hill Niobium Project ( Project ) in Tanzania. The Ore RESERVES are reported in accordance with jorc code (2012) and incorporate the results of the recently completed Cradle Definitive Feasibility Study ( DFS ) inclusive of the extensive investigations and work carried out since 2012 by Cradle and more recently by PANDA hill Tanzania Limited ( PHT ).

2 The Ore Reserves have been prepared and reported in accordance with the JORC Code (2012) by the DFS consultants. Specific mine planning aspects, relating to the application of the modifying factors, taking into account guidance from

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  Reserve, Code, Hill, Declared, Pandas, Jorc code, Jorc, Reserves for panda hill declared

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