Exercise of Unlisted Options

TORONTO, Dec. 11, 2020 (GLOBE NEWSWIRE) -- Cardinal Resources Limited (ASX/TSX: CDV) (“Cardinal” or “Company”) advises that 16,000,000 unlisted options exercisable at $0.50 per share have been exercised in the Company to raise AU$8.0 million.

Attached to this release is the Company’s Appendix 2A – Application for Quotation of Securities and the Appendix 3Y ‐ Change of Director’s Interest Notice for each of the relevant Directors.

Authorised for release by the Board of Cardinal Resources Limited.

For further information contact:

Sarah Shipway	Alec Rowlands
Company Secretary	IR / Corp Dev
Cardinal Resources Limited (Australia)	Cardinal Resources Limited (Canada)
P: [phone]	P: [phone]

Cannings Purple (Investor Relations, Australia)
Peta Baldwin or Warrick Hazeldine
E: [e-mail]
E: [e-mail]

Disclaimer
Cardinal confirms that it is not aware of any new information or data that materially affects the information included in its announcement of the Ore Reserve of April 3, 2019. All material assumptions and technical parameters underpinning this estimate continue to apply and have not materially changed.

This ASX / TSX press release has been prepared by Cardinal Resources Limited (ABN: 56 147 325 620) (“Cardinal” or “the Company”). Neither the ASX or the TSX, nor their regulation service providers accept responsibility for the adequacy or accuracy of this press release.

This press release contains summary information about Cardinal, its subsidiaries and their activities, which is current as at the date of this press release. The information in this press release is of a general nature and does not purport to be complete nor does it contain all the information, which a prospective investor may require in evaluating a possible investment in Cardinal.

By its very nature exploration for minerals is a high‐risk business and is not suitable for certain investors. Cardinal’s securities are speculative. Potential investors should consult their stockbroker or financial advisor. There are a number of risks, both specific to Cardinal and of a general nature which may affect the future operating and financial performance of Cardinal and the value of an investment in Cardinal including but not limited to economic conditions, stock market fluctuations, gold price movements, regional infrastructure constraints, timing of approvals from relevant authorities, regulatory risks, operational risks and reliance on key personnel and foreign currency fluctuations.