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Cassini acquires interest in 3 prospective gold projects in Nevada USA

Potential company making projects.

Poised for near term exploration success.

Projects located in world class mining districts.

Excellent in-country management and expertise.

Joint Venture partner with excellent discovery track record.

Fully funded for initial exploration program.

Exploration and development of existing assets continues.

The Directors of Cassini Resources Limited (ASX:CZI) (“Cassini”) are pleased to announce they have signed a binding Share Sale Agreement with Australian unlisted public company Search Resources Limited (Search) to acquire 100% of the issued capital of Search.

The acquisition will be settled via the payment of AUD$200,000 and the issue of 8.8M new ordinary Cassini shares.

The agreement is conditional upon Cassini undertaking final routine due diligence and obtaining shareholder approval for the issue of securities as consideration for the transaction under ASX listing rules 7.1 and 10.11.

On completion of the transaction, Cassini will acquire the rights of the existing Joint Venture (JV) Agreements to earn a 70% equity interest in 3 prospective gold exploration projects in Nevada USA. The earn-in is based on an exploration spend of US$1M per project over 4 years. The timing of this spend varies per project, based on its exploration stage and strategy. The minimum spend commitment over the next two years on the projects to be acquired is a maximum of $1,100,000 over all three projects. Cassini will fund the projects 100% to Bank Feasibility Study (BFS), and from then on, funding is pro-rata on an equity basis.

The JV Agreements allow Cassini to assess each of the projects on an on-going basis, with the right to hand back a single project and not affect the status of the remaining projects. If this circumstance occurred, the expenditure commitment required by Cassini would be reduced.

Cassini expects to be able to fund the initial exploration program from its existing working capital. There will be no significant change to the expenditure programme for the company’s existing assets.

Through a 100% owned subsidiary, Search also has six (6) applications over exploration tenement licences in Peru. There are no expenditure requirements on these licences.

ASX Announcement & Media Release Friday 20 April 2012 Capital Structure Shares on Issue 25,750,001 Shares Trading 17,000,000 Market Cap* $4.64 M Cash on hand $2.5M *As at 17/4/2012 Unlisted Options 7,000,000 (20 cents, 30 June 2015) Directors Mike Young Non Exec Chairman

Richard Bevan Managing Director

Greg Miles Non Exec Director

Phil Warren Non Exec Director & Co. Sec

Proposed Transaction Timeline* Sign Transaction documents

19 April 2012

Issue Notice of Meeting

26 April 2012

Shareholder Meeting

28 May 2012

* This timetable is indicative only and may be subject to change

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Joint Venture Partner – Renaissance Gold Inc.

Renaissance Gold Inc. (TSX:REN) www.rengold.com (Market Cap CAD$24.6M) is a Nevada-based gold/silver focused exploration company. They have a high level of technical expertise and their core capability is in the identification and generation of exploration projects. RenGold has an impressive history of exploration success in Nevada and other parts of the world. Their most recent success has been in the joint venture with Fronteer Gold Inc. which identified the Long Canyon deposit in north eastern Nevada. Mr. David Johnson to join Cassini Board On achieving shareholder approval for the the transaction, Mr David Johnson will join the Cassini board as Executive Director – Exploration. David is based in Salt Lake City, Utah in the USA and has been involved in identifying the JV partner and exploration projects. David is a member of the Australian Institute of Geoscientists and has been involved in mineral exploration since 1990, working on nickel, gold, copper, base metal, diamond, and other mineral commodities in Australia, Asia, Scandinavia, North America and Africa. David worked for WMC, Rio Tinto, LionOre and Independence Group prior to forming Revelation Geoscience Ltd, a multidisciplinary exploration consulting group based in Vancouver BC. David holds a Master of Science (Geophysics) degree from the University of Utah, a Bachelor of Science (Honours) degree from the University of Melbourne, and a Graduate Diploma in Applied Finance and Investment from the Securities Institute of Australia. On David’s appointment to the Board, the company is seeking shareholder approval to issue 1 million share options. The share options would have the same terms and conditions as the existing Director options issued by the company. They are proposed to be exercisable at $0.25 and expiring on 30 June 2015. Details of these will form part of the Notice of Meeting issued to shareholders.

Mining in Nevada – Snapshot 6.1M ounces of gold were produced in Nevada produced in 2011. This equates to about 83% of US

gold production.1

Significant recent discoveries are still being made, despite 150 years of exploration. (Long Canyon, Railroad, South Carlin, Spring Valley).

Exploration and mining friendly jurisdiction, with over 20 major gold/silver mines. There is significant local infrastructure, with a high level of exploration and mining expertise and

knowledge. Major companies are on the ground, with Barrick & Newmont having invested +US$6b and this

investment is still growing. There are seven (7) +20Moz gold deposits in the state of Nevada. The regulatory system provides recent examples of rapid permitting. Recent M&A activity: Newmont paid $575/oz of gold in the ground to acquire Fronteer.

1 The Nevada Mineral Industry 2010. Nevada Bureau of Mines and Geology, Special Publication MI-2010

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The Projects – Nevada gold exploration

Potential company making projects Targeting large scale gold deposits +1Moz. Carlin style deposit. Sediment hosted gold

deposits include some of the largest and lowest cost in the world.

Poised for near term exploration success Well defined target at Pasco Canyon.

Permitted and ready to drill. Goldstar – large mineralised system, high

grade gold identified at surface, numerous targets.

Mineralisation over 7 km strike at Leonid. Advanced geophysical techniques will be utilised to define targets.

Projects located in world class mining districts Numerous +20Moz resources. Significant recent discoveries – Long Canyon

(2.2Moz), Railroad (recent reported intercept: 77.8 m @ 1.65 g/t Au, including 33.5 m @ 2.57 g/t Au in hole RR11-18), South Carlin and Spring Valley (inferred Resource 1.6Moz).

Excellent in-country management and expertise US based Geoscientist David Johnson to join

Cassini’s Board. Joint Venture partner with excellent

discovery track record Renaissance Gold, Nevada based. Technical focus.

Fully funded for initial exploration program.

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Leonid Project

Goldstar Project

The Leonid Project is located in the prolific Carlin trend in north east Nevada USA.

It has structural and stratigraphic similarities to the Rain Deposit (+6Moz) located 50km to the north and the recent Railroad deposit (+2Moz) 35km to the north.

Leonid is a conceptual target that has had some reconnaissance mapping and sampling completed showing anomalous gold and pathfinder elements. The remaining work will be finished by mid-year 2012.

Leakage of mineralizing fluids along faults into rocks overlying Carlin-style deposits results in gold and pathfinder element (As, Sb, Hg) anomalism at the present-day erosional surface.

The strategy is to locate these fluid pathways by mapping and rock chip sampling, and to test their intersection with permissive dirty carbonate host rocks at depth. Work by Renaissance Gold has already defined possible drill targets.

Initial stratigraphic drilling and target testing are expected to be completed in late 2012

Goldstar is an undrilled gold system boasting 19.8 g/t Au and 1,213g/t Ag at surface.

It is located 15km north of the town of Lovelock in the Trinity Mining District, Pershing County

It is in close proximity to • Rochester mine (world-class silver producer)

associated with similar age intrusive rock - produced 1.2 Moz Au and 125 Moz Ag.

• Florida Canyon mine - produced 2 Moz, with over 1 Moz remaining in leach pads plus significant in-ground reserves.

• Spring Valley which is emerging as major deposit.

There are numerous high grade veins which have been historically mined, but no modern drilling has been done.

The exploration strategy is to undertake detailed mapping and sampling on the remainder of the property, including historic workings. This will be completed prior to a drilling program anticipated in late 2012.

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Pasco Canyon Project

Capital Structure

Current Post Transaction

Shares on Issue 25,750,001 34,550,001

Shares Trading 17,000,000 20,750,001*

Unlisted Options ($0.20; 30/06/15)

7,000,000 7,000,000

Unlisted Options ($0.25; 30/06/15)

_ 1,000,000

Market cap @$0.20

$5.15M $6.19M

* This represents the 2,000,000 consideration shares not subject to escrow under the Share Sale Agreement; and 1,750,001 ordinary shares currently on issue that are due to be released from escrow on 6th May 2012

Pasco Canyon is on the east side of the Toquima Range in Northern Nye County.

It is located: • 25km north east of Round Mountain (+14Moz at

0.59g/t). • 20km north east Gold Hill (2Moz) • 12 km south of Northumberland mine (+3Moz at

1.92g/t).

Large area of breccia composed of volcanic fragments and containing coarsely bladed quartz after calcite, with low values of gold (200 ppb), elevated As, Sb & Hg; possibly the upper portion of a classic epithermal system.

Pasco provides a well-defined target. The exploration strategy is to drill two to four holes in order to intersect veining and brecciation at postulated zone of Au precipitation.

Drilling permits have already been granted and the program is currently being scheduled with the aim of commencing in August 2012.

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For further information please see detailed presentation on the company’s website www.cassiniresources.com.au or contact Richard Bevan on the contact details below. Richard Bevan Managing Director Telephone: +61 8 9322 6569 Email: richard.bevan@cassiniresources.com.au About Cassini Cassini Resources Limited (ASX: CZI) is a Perth based exploration company which recently completed an IPO to successfully list on the ASX in January this year. Cassini has exploration projects in the Forrestania, Musgrave, Peak Charles and Eucla Basin regions of Western Australia.

Cassini’s current exploration portfolio offers a mix of projects in mineral producing regions with good infrastructures, long mining histories and currently producing mines; and those of a more speculative nature with conceptual targets with limited previous exploration and potentially higher reward. Cassini aims to explore and develop its current projects, and to identify additional projects that are commercially attractive with the aim to increase shareholder value.

The information contained in the report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled or reviewed by Mr Greg Miles, who is a Director and employee of the Company. Mr Miles is a Member of the Australasian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which is being undertaken to qualify as a Competent Persons as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Miles has given consent to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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