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PROBABLE ORE RESERVE CARDINAL RESOURCES NAMDINI Cut off Tonnes Grade MAIDEN ORE RESERVE September 2018 (g/t Au) 0.5 (Mt) 129.6 (g/t Au) Metal (Moz Au) 1.14 4.76 ■ 4.76 Moz Au contained in 129.6 Mt at 1.14 g/t Au at a cut-off of 0.5 g/t Au Probable Ore Reserve ■ 6.5 Moz Au contained in 180 Mt at 1.13 g/t Au at a cut-off of 0.5 g/t Au Indicated Mineral Resource ■ 0.5 Moz Au contained in 13 Mt at 1.2g/t Au at a cut-off of 0.5 g/t Au Inferred Mineral Resource ■ Remains open along strike and down dip The Ore Reserve conforms with and uses JORC Code 2012 recommendations and Canadian Institute of Mining, Metallurgy and Petroleum "CIM Definition Standards for Mineral Resources and Mineral Reserves" (CIM, 2014). No inferred material has been used in the Ore Reserve estimates. Appropriate modifying factors have been considered, these include but are not restricted to mining, processing, metallurgical, infrastructure, economic marketing, legal, environmental, social and governmental factors. Cut off (g/t Au) 0.5 Cut off (g/t Au) 0.5 INDICATED MINERAL RESOURCE Tonnes Grade Metal (Mt) 180 (g/t Au) 1.1 (Moz Au) 6.5 INFERRED MINERAL RESOURCE Tonnes (Mt) 13 Grade (g/t Au) 1.2 0.5 Metal (Moz Au) This is in accordance with the guidelines of Reasonable Prospects for Eventual Economic Extraction ("RPEEE") per the Canadian Institute of Mining, Metallurgy and Petroleum "CIM Definition Standards for Mineral Resources and Mineral Reserves" (CIM, 2014) and the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code 2012). The Mineral Resources are inclusive of the Ore Reserve. ASX/TSX: CDV | 8 CARDINAL RESOURCES

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