Resignation of Nominated Adviser

For immediate release

22 February 2019

Crusader Resources Limited

("Company" or "Crusader")

Resignation of Nominated Adviser

The Company's nominated adviser informed the Board today that it had resigned with immediate effect. Trading of the Company's securities on AIM was suspended on 1 October 2018 pending clarification of the Company's financial position ("Suspension"). The Company's ordinary shares now also remain suspended from trading on AIM pursuant to Rule 1 of the AIM Rules for Companies. As previously announced, a special resolution is being proposed at the General Meeting of the Company to be held on 28 February 2019 that the admission of the Company's Shares to trading on AIM be cancelled in accordance with Rule 41 of the AIM Rules. The cancellation, if approved, is expected to take effect on 8 March 2019. In the event that the proposed resolution to approve the cancellation is not approved, the admission of the Company's securities to trading on AIM is expected to be cancelled on the earlier of: (i) 25 March 2019, if the Company fails to appoint a new nominated adviser within one month of this announcement in accordance with Rule 1 of the AIM Rules; or (ii) 2 April 2019 if the Company's shares have not recommenced trading on AIM in accordance with Rule 41 of the AIM Rules (being six months from the Suspension of trading on AIM on 1 October 2018).

Special note concerning the Market Abuse Regulation

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ("MAR"). The person who arranged for the release of this announcement on behalf of the Company was Marcus Engelbrecht, Managing Director.

Website

A copy of this announcement is available from the Company's website at www.crusaderresources.com

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ENDS