Good announcement by Nex of resource upgrade to 538,000 ounces....

Good announcement by Nex of resource upgrade to 538,000 ounces. But this figure will grow for the following reasons;

- the orient well figures do not include the latest round of drilling. As Nex mentioned about orient well in their latest quarterly;

" A total of 583 holes for 3,609 metres of drilling was completed to infill the existing drilling dataset on a 10m X
10m and 25m X25m grid pattern. The results display continuity of the mineralised Laterite over the entire area
suggesting a significant resource will be unearthed by this drilling ". Note the words "significant resource" which is not included in the 538,000 ounces.

- $1m drilling program taking place at phase 3 high grade cosmopolitan, diamantina and cumberland - 538,000 ounces only from phases 1 and 2

The other things to note are;

- the maximum depth of the 538,000 ounces is 120m
- Nex believe that there is potential to extend the mineralisation both at depth and along strike within the
Nex’s tenements, hence there is potential to expand this resource.
- low costs due to heap leach
- 538,000 ounces is JORC compliant

All leading towards large, low cost JORC compliant resource right when the gold price is peaking.

DYOR