Directorate Change

17 April 2018

Directorate Changes

Crusader Resources Limited (ASX: CAS, AIM: CAS) ("Crusader" or the "Company"), the independent gold explorer and developer, is pleased to announce the appointment of Andrew Vickerman as Non-Executive Chairman of the Company, with immediate effect. Further details relating to Andrew Vickerman under schedule 2 paragraph (g) of the AIM Rules were contained in the Company's admission document dated 12 April 2018.

Andrew brings significant experience to the role and is currently also a member of the Board of Trafigura Pte Ltd, an independent commodity trading and logistics house. He was a non-executive director at Petropavlovsk PLC, a London listed mining company and spent almost 20 years with Rio Tinto, the last 10 years as a member of the Operations and Executive Committees with responsibility for global communications and external relations.

As part of Crusader's London AIM listing and as previously announced, Stephen Copulos has stepped down as Chairman and Director, with immediate effect. The Company wishes to thank Stephen for his support since his appointment in March 2013. Stephen remains a significant shareholder of the Company.

For further information, please contact:

Mr. Paul Stephen

Executive Director

Office (Aus): +61 8 9320 7500

Email: [email protected]

Investor Relations

Office (Aus): +61 8 9320 7500

Email: [email protected] 

Smith & Williamson Corporate Finance Limited (Azhic Basirov / Katy Birkin / Ben Jeynes)

Nominated Adviser

Office: +44 (0)20 7131 4000

Hannam & Partners (Neil Passmore / Andrew Chubb)

Joint Financial Adviser, Joint Lead Manager and Joint Broker

Office: +44 (0)20 7907 8500

Camarco (Gordon Poole / Nick Hennis)

Financial PR

Office: +44(0)20 3757 4997 / +44(0)20 3781 8330

About Crusader

Crusader Resources Limited (ASX: CAS, AIM: CAS) is a minerals exploration and development company listed on the Australian Securities Exchange and the AIM Market of the London Stock Exchange. Its major focus is Brazil; a country Crusader believes is vastly underexplored and which offers high potential for the discovery of world class mineral deposits.

Crusader has two key Gold Assets;

Borborema Gold Project

The Borborema Gold Project is in the Seridó area of the Borborema province in north-eastern Brazil. It is 100% owned by Crusader and consists of three mining leases covering a total area of 29 km2 including freehold title over the main prospect area.

The Borborema Gold Project benefits from a favourable taxation regime, existing on-site facilities and excellent infrastructure such as buildings, grid power, water, sealed roads and is close to major cities and regional centres. The project's Ore Reserve includes Proven and Probable Ore Reserves of 1.61Moz of mineable gold from 42.4Mt @ 1.18g/t (0.4 & 0.5g/t cut-offs for oxide & fresh). The measured, indicated and inferred Mineral Resource Estimate of 2.43Moz @ 1.10g/t gold, remains open in all directions.

Juruena Gold Project

The Juruena Gold Project is located in the highly prospective Juruena-Alta Floresta Gold Belt, which stretches east-west for >400km and has historically produced more than 7Moz of gold from 40 known gold deposits. Historically there is a database of more than 30,000 meters of drilling and extensive geological data.