Perth, May 22, 2017 AEST (ABN Newswire) - Cardinal Resources Limited (ASX:CDV) (OTCMKTS:CRDNF) ("Cardinal" or the "Company") is pleased to announce that Commonwealth Bank of Australia (ASX:CBA) ("CBA") and its related bodies, which includes Colonial First State, has become a substantial shareholder of Cardinal through on-market purchases.

CBA became a substantial shareholder of Cardinal on 18 May 2017 with an ordinary shareholding of 5.01%.

Archie Koimtsidis, MD/CEO of Cardinal, said:

"We welcome CBA and their team at Colonial First State as a substantial shareholder of the Company. Their investment confirms the tremendous potential of our Ghanaian Projects."


About Cardinal Resources Ltd

Cardinal Resources Ltd (ASX:CDV) (TSE:CDV) (OTCMKTS:CRDNF) is an African gold-focused exploration and development company which holds interests in tenements within Ghana, West Africa. The Company is focused on the development of the Namdini project through a resource expansion drilling programme, pre-feasibility studies, detailed metallurgical test work, and process flowsheet studies. Exploration activity is also underway on the Company’s Bolgatanga and Subranum Projects.

For more information on the Company, Investors should review the Company’s filings that are available at http://www.sedar.com

 


Contact

Archie Koimtsidis
MD / CEO
Cardinal Resources Limited
P: +61-8-6558-0573



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