Cannindah Resources Limited announced the next set of completed assay results from the drilling program currently underway at Mt Cannindah, copper gold silver project south of Gladstone near Monto in central Queensland pertaining to full results for holes 21CAEDD007 & 21CAEDD008. HIGHLIGHTS: Hole 7 delivers 75m of copper across two separate zones being 20m @ 1.19 Copper Equivalent (CuEq) from 95m and a further 55m @ 0.97CuEq from 192m A completely new high grade gold zone discovery in hole 7 being 3m @ 28.87g/tAu, 39.2g/tAg from 449m including 1m @ bonanza grade of 81.6g/tAu. Hole 8 returned an impressive 278m @ 1.26% CuEq from surface Supergene zone of 2m @ 4.78% CuEq from 17m in hole 8. High grade gold 1m @ 8.18g/tAu from 478m also in hole 8. Both holes are located 140m to the south of holes 2 and 3 in the southern section of Mt Cannindah and open up the possibilities of the southern section New Gold zone is a good chance to extend through to the gold zone in lower section of hole 3 approximately 150m horizontal distance away.

Technical highlights and details of hole 7 and hole 8 below: Thick intersections of copper, gold, silver in hydrothermal breccia: In Hole 8: 278m @ 0.87% Cu, 0.43 g/t Au, 15 g/t Ag from surface, converts to 278m @ 1.26% Copper Equivalent (Cu Eq). includes 43m @ 1.33% Cu, 0.67 g/t Au, 29 g/t Ag from 41m in hole 8 (43m @ 1.98 % Cu Eq). and 29m @ 1.34% Cu, 0.3 g/t Au, 22.2 g/t Ag from 166m in hole 8 (29m @ 1.70 % Cu Eq).

In Hole 7: 20m @ 1.19% Cu, 0.55 g/t Au, 46 g/t Ag from 95m, converts to 20m @ 1.89% Cu Eq. In Hole 7: 55m @ 0.77% Cu, 0.21 g/t Au, 8.7 g/t Ag from 192m, converts to 55m @ 0.97 % Cu Eq. New discovery of high grade gold zone 200m further down hole than previous copper resource: In Hole 7: 3m @ 28.87 g/t Au, 39.2 g/t Ag from 449m.

Includes 1m @ 81.6 g/t Au, 107 g/t Ag (450m-451m,hole 7). In hole 8: 1m @ 8.18 g/t Au, 478m-479m. CAE holes 7 & 8 were designed to test grade, mineralisation style and continuity, and the geological relationships of the copper-gold-silver bearing infill breccia as it plunges to the west.

Holes 7 & 8 are in the southern section of the Mt Cannndah Mine area, 140m south of the collars of Holes 2 & 3. These are the first holes in this area to drill from east to west with the objective of drilling down the long axis of the Mt Cannindah breccia. CAE hole # 7, drilled along the western margin of breccia, drilling through a large hornfels block before intersecting two sections of infill chalcopyrite rich hydrothermal breccia down to 320m ie 20m @ 1.19% Cu, 0.55 g/t Au, 46 g/t Ag from 95m-115m; 55m @ 0.77% Cu, 0.21g/t Au,8.7g/t Ag from 192m to 247m. Hole 7 then drilled a mixture of pyritic clast supported breccia, strongly altered, bleached, dioritic porphyry and post mineral andesitic dykes before pasing back into hydrothermal infill breccia with variable chalcopyrite contents at 424m.

CAE then discovered a notable gold bearing zone from 438m to 452m, associated with semi- massive pyrite and quartz infill within a steeply dipping vein structure. Elevated gold is also present associated with felsic dykes. Bonanza gold grades up to 1m @ 81.64 g/t Au and 109.2 g/t Ag demonstrate the significance and potential of the discovery.

The Au value for this metre is an average of original analysis of 96.9 g/t Au and repeat analysis of 66.4 g/t Au. Hole # 7 then passed through a rock crush/fault zone and drilled mainly pyritic clast supported breccia, some strongly altered, bleached, dioritic porphyry and post mineral andesitic dykes through to the end of hole at 538.9m. CAE hole # 8, was drilled 40m to the east and underneath CAE hole # 7 to determine the continuity of copper bearing breccia under the large hornfels block intersected in hole # 7. The latter block was interpreted as being a probable barrier to mineralising fluid and may have led to copper and other metal deposition on the footwall (eastern side) of the steeply dipping block.

Hole # 8 successfully drilled a thick intersection of chalcopyrite rich, hydrothermal infill breccia. aggregating 278m @ 0.87% Cu, 0.43 g/t Au, 16 g/t Ag from surface. Hole # 8 then drilled (in a similar fashion to Hole # 7) a mixture of pyritic clast-supported breccia, strongly altered, bleached, dioritic porphyry and post mineral andesitic dykes,passing in and out of hydrothermal infill breccia with variable chalcopyrite content.

Gold was present at 478m to 479m, (1m @ 8.18 g/t Au) and again at 507m to 508m, with elevated silver. These gold bearing zones sit below measured and oriented,sub-vertical structures in hole # 7, consequently,Terra Search consultant geologists have interpreted the gold bearing zones to be connected . In a similar fashion, the measured north west orientation of the high gold bearing structure in hole # 7 is on trend and has a good chance of extending through to the gold zone that CAE recently discovered in the lower part of hole # 3 (11m @ 3.4 g/t Au from 567m to 578m), 150m horizontal distance away.