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 ASX:CDVCardinal Resources Ltd (ASX:CDV) (OTCMKTS:CRDNF) is an African gold-focused exploration and development company which holds interests in tenements within Ghana, West Africa.

The Company’s Namdini Project has a declared 4Moz Maiden Gold Resource which is open. The Company is focused on the development of the Namdini project through a resource expansion drilling programme, prefeasibility studies, detailed metallurgical test work and process flowsheet studies. Exploration activity is also underway on the Company’s Bolgatanga and Subranum Projects.

 


Contact

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



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