Phase 2 Mining at Ulysses West Commences & Viking Drilling Recommences. Exciting times ahead for Genesis Minerals Limited.

MINING RESUMES AT ULYSSES WEST

Second phase mining campaign underway to extract remaining high-grade material at base of pit as Genesis awaits assays for recently completed RC and aircore drilling programs

Key points:

 Blast hole drilling and dewatering underway with mining fleet set to resume operations later in the week, using smaller equipment.  Limited mining campaign (~4 weeks) designed to extract an additional ~10,000t of high-grade material (~5g/t Au) remaining at the base of the Ulysses West open pit.

 All ore from the previous mining campaign (completed prior to Christmas) now processed through the Paddington mill, with final reconciliations and payments expected in the coming weeks.  Final payments have been delayed due to batches UW4 and UW5 undergoing umpire analyses with overall grades above the mine claimed grades.

 1,500m Reverse Circulation (RC) drill program targeting the 1.3km long Ulysses East gold anomaly now completed with assay results awaited.

 6,000m wide-spaced aircore drilling designed to test a number of strike-parallel targets to the main mineralised trend and new areas at Ulysses has also been completed – assays awaited.

http://www.genesisminerals.com.au/downloads/announcements/gmd2017032101.pdf