Ann: Trading Halt, page-13

Company Snapshot

Shares on Issue: 114,802,142

Options: 44,959,868

Current Price: 8.1c

Cash: ~ $ 0.55M

Market Cap: @ 7.5c ~$8.61M (undiluted)

EV: ~$8.06M (undiluted)

Investment Highlights:

• Attractively priced with $8M EV.

• Shell value with little price attributed to the enormous and highly prospective land package -Hunting for the next Tropicana.

• Takeover target.ASX listed PGM recently gone substantial and flagging change in corporate strategy to “Going for Gold”.

• Company owned RC & Diamond Rigs. Significantly reducing operating costs and lead times in a tight market.

• Encouraging historical results, including1m @ 142 g/t Au and 192m @ 0.5 g/t Au drilled by NES in 2018.

• Plan to drill 12,000m; consistent/monthly news flow

Please have firm bids in by2pm AWST today

• The Company seeks to raise A$1.5 million through the issue of circa 20 million new fully paid ordinary shares in the Company at A$0.075 per share, with the ability to accept oversubscriptions up to approximately $0.65m.

• 7.4% discount to last traded price of 8.1c; 11.6% discount to 5-day VWAP; 20.3% discount to 10-day; and 20.1% discount to 15-day.

• The Placement will take place in a single tranche and will fall within the Company’s placement capacity available for issue

Company Overview

• Nelson Resources Ltd (ASX:NES) is an ASX-listed gold exploration company with a portfolio of 956km² of wholly owned gold projects located in Western Australia.

• Nelson’s flagship project is the 828 km2 Woodline Project which is located at the boundary between the Proterozoic Albany-Fraser Orogen and the Archean Yilgarn-Craton.

• Woodline has:

• Four large scale gold targets identified with $14 million worth of exploration expenditure spent by the Company, Sipa Resources, Newmont & MRG

• 45km of the Cundeelee Fault

• 20km long gold geochemical / bedrock anomalyin the same structural setting as Tropicana

• 30km of currently unexplored greenstone within the Norseman – Wiluna Greenstone belt

• Three major fault lines that all host significant gold projects confluence within the tenure

• The Socrates project with excellent results in recent drilling

• Significant exploration close to the tenure by FMG, Silverlake, and others.

Woodline Project

Grindall-Redmill-Harvey

• Systematic exploration was carried out for Tropicana style mineralization by Sipa Resources and Newmont between 2006 and 2012. The work resulted in identification of a gold surface anomaly that extends over a strike length of more than 20km.

• Reported results included:

• TFC010: 10m @ 1.29g/t Au from 64m, including 1m @ 7.80g/t Au from 71m

• HRC001: 1m @ 9.14g/t Au from 93m

Socrates

• Located approximately 100km East-South-East of the 10MOz+ St Ives Gold Mine; covering 12sqkm.

• Notable intercepts:

• 1m @ 142 g/t Au

• 192m @ 0.5 g/t Au

• 8m @ 3.53 g/t Au

• 25m @ 2.06 g/t Au

Tempest

• Adjacent to the Independence Group (IGO) / Rumble Resources (RTR) Thunderstorm Joint Venture.

• IGO has been conducting an aggressive exploration program throughout this region which is amongst other minerals prospective for Ni-Cu-Co and Au.

• NES’ 105 km² Tempest project is on the Eastern boundary of the Thunderstorm project. Recent drilling by IGO included Aircore (AC) results of 25m @2.42g/t Au at the Themis Prospect and 4m @ 3.8g/t Au at the Pion Prospect.

Timetable

	Trading Halt	Wednesday, 20 January 2021
1	Firm Bids Due	2PMWST Wednesday, 20 January 2021
2	Confirmation Forms Due	12PMWSTThursday, 21 January 2021
3	Announcement of Placement / Trading Halt Lifted	Friday, 22 January 2021
4	Proposed Settlement Date (DVP facility)	Friday, 29 January 2021
5	Allotment of Shares	Monday, 1 February 2021

Please see attached a copy of the latest presentation.

If you are interested in bidding for some of the NES placement please contact myself or Joel.

Best Regards

Joel Ridley|Managing Director

MERCHANT CAPITAL PARTNERS PTY LTD