White Cliff Minerals Ltd.: Corporate Restructure and Share Consolidation

Perth - White Cliff Minerals (ASX:WCN) ("White Cliff", "the Company") will seek shareholder approval to consolidate its issued share structure on a 50:1 basis and will seek to divest non-core assets. In conjunction with the consolidation the directors have agreed to cancel all outstanding performance incentives for no consideration.

Key Points:

- White Cliff Minerals to undertake corporate restructure including;

o Seeking shareholder approval to undertake a 50:1 share consolidation

o Divestment of Australian gold assets and selected cobalt-nickel projects via sale, joint venture or spin out

o Cancellation of all director performance share entitlements

- Cobalt strategy focus on resource definition drilling to crystallise cobalt-nickel value at Australian projects

- Gold strategy focus on extracting shareholder value from the 484,000 ounce Aucu gold deposit

Post consolidation, the Company will focus on extracting value for its gold deposit in the Kyrgyz Republic and advancing selected Australian cobalt and nickel deposits to JORC compliant resources and ultimately operating mines.

Corporate Restructure

Due to the Company's unwieldy issued capital structure and the granularity of changes in its share price at the current depressed prices the Company has decided to seek shareholder approval to consolidate its issued shares on a 50:1 basis. The consolidation will also affect both listed and unlisted options. Further all existing directors performance share rights have been cancelled for no consideration.

Further details are available in the Notice of Meeting dispatched today and released on the ASX announcement platform.

In conjunction with the share consolidation the Company is seeking to divest non-core assets including the Australian Gold assets and the Bremer range cobalt and nickel project via sale, joint venture or spin out.

In addition the Company will endeavour to convert some existing debt into scrip. A review of the composition and roles of the board of directors will also be undertaken.

Australian Cobalt Nickel Focus

The Company will focus on its cobalt and nickel projects located south-east of Laverton. Each of these projects have the potential to become significant mines in the near term. Although the projects are at early stages, White Cliff believes each could potentially support a stand-alone development of a size and quality that could rival some similar projects being promoted by the leaders in the Australian cobalt-nickel sector. The White Cliff projects all also benefit from being located close to Glencore's existing Murrin Murrin nickel-cobalt plant and GME Resources' proposed Mt Kilkenny nickel-cobalt plant, which offer alternative development options.

Gold Focus

The Company will also focus on extracting value from its 90%-owned Aucu Gold Project in the Kyrgyz Republic, which contains an inferred gold resource of 2.95 million tonnes at 5.1 g/t Au for 484,000 ounces of gold and an inferred copper resource of 17.2 Mt at 0.37% copper containing 64,000 tonnes of copper. Recent geochemical sampling across the project porphyry area has highlighted multiple significant gold-copper and base metals targets highlighting the scale potential of this mineralised system. The Company is actively seeking interested parties to assist with development of the project; and/or to acquire the project outright.

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About White Cliff Minerals Ltd:

White Cliff Minerals is a Gold, Copper, Cobalt, Nickel resources and mining company listed in Australia (ASX:WCN). The Company is focused on developing low cost high value mineral deposits that have near term cash flow potential.

Major projects include the Aucu gold deposit that contains 484,000 ounces of gold (3mt at 5.1 g/t) starting at surface and Chanach copper deposit that contains 64,000 tonnes of copper (17.2Mt at 0.37% copper). Both projects have substantial blue sky potential with drilling covering only 5% of the known structures. In Australia the company is developing the Coronation Dam cobalt–nickel deposit where a maiden resource will be announced in the late 2018.

Source: White Cliff Minerals Ltd.



Contact:

Todd Hibberd Managing Director
T: +61-8-9321-2233
W: www.wcminerals.com.au