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January 14th 2019

Australian Securities Exchange Limited Via ASX Market Announcements Platform

Response to Media Article

Gascoyne Resources Limited (ASX: GCY) ("Gascoyne" or the "Company") refers to the article published in The Australian today regarding the appointment of Macquarie Capital (Australia) Limited ("Macquarie") as "financial advisor".

Gascoyne confirms it engaged Macquarie to provide advice to the Company on a number of corporate and financial matters following the material fall in the Company's share price experienced in the December quarter 2018.

The advice from Macquarie forms part of the Board's ongoing efforts to maximise returns to Gascoyne shareholders. Improving the operating performance at the Dalgaranga Gold Project remains the key focus of the Company. As outlined in Gascoyne's ASX release dated 24 December 2018, there are a number of initiatives being implemented at Dalgaranga which are expected to see the project outputs improve materially throughout 2019.

Gascoyne confirms that it is in compliance with ASX Listing Rule 3.1 and will ensure shareholders are informed of any material developments, should they occur.

On behalf of the board of

Gascoyne Resources Limited

Eva O'Malley

Company Secretary Gascoyne Resources Limited

For further information, please contact:

Investor enquiries: Mike Ball

Media enquiries:

Interim CEO

Ph: +61 89481 3434

Michael Vaughan Fivemark Partners Ph: +61 422 602 720

P.O. Box 1449, West Perth, Western Australia 6872

Level 1, 41-47 Colin Street, West Perth, Western Australia 6005

Telephone +61 8 9481 3434, Facsimile +61 8 9481 0411

Email:admin@gascoyneresources.com.au, Web: www.gascoyneresources.com.au

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Disclaimer

Gascoyne Resources Ltd. published this content on 14 January 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 January 2019 02:08:21 UTC