Ann: Positive Diamond Results Allow For Scoping Study Update, page-2

Positive Crusader-Templar Diamond Results allow for Scoping Study Update
✓ Assays returned for Crusader-Templar Deposit diamond program. Program designed to
complement Mine Studies at the Wallbrook Gold Project - 13 holes completed for 1,473 metres
✓ Assay results confirm shallow location and high-grade tenor of the modeled mineralisation,
demonstrating high level of confidence in the interpretation of the deposit. Results included,
o 1.7m @ 23.50g/t Au (within 11.0m @ 4.04g/t Au) from 24.0 metres
o 5.1m @ 4.58g/t Au (within 14.0m @ 2.38g/t Au) from 24.0 metres
o 3.3m @ 5.10g/t Au (within 9.4m @ 2.03g/t Au) from 51.8 metres
o 4.3m @ 2.57g/t Au (within 19.0m @ 1.83g/t Au) from 65.0 metres
o 3.6m @ 6.27g/t Au (within 4.6m @ 4.93g/t Au) from 98.4 metres
✓ Metallurgical, Geotechnical, Waste Rock Characterisation and Water Monitoring studies
completed, supporting a low-risk open pit mine
✓ Nexus continues to engage with a variety of mining contractors and service providers to
establish more accurate costings and low-risk management structures
✓ Scoping Study update to commence in the coming weeks
Nexus Minerals Limited (ASX: NXM) (Nexus or the Company) is pleased to announce the results of the
recently completed diamond program at the Crusader-Templar Gold Deposit, situated at the Wallbrook Gold
Project, 140km northeast of Kalgoorlie, WA. This program was designed to complement ongoing mine studies
by gaining further insight on metallurgical, geotechnical, waste rock characteristics, and dewatering
parameters. These studies are now complete and with positive outcomes received from all aspects of the drill
program, an updated scoping study will now be undertaken
Nexus Managing Director Andy Tudor commented “These diamond assay results continue to reinforce our
confidence in the Crusader-Templar Gold Deposit and the opportunity it presents. Intercepting the orebody as
planned, and returning the shallow high-grade gold assay results that mirror the previous RC drill programs, is
a huge vote of confidence in the recent combined Mineral Resource update and the technical team’s
understanding of the deposit. With detailed mine study components now completed, we will update the
scoping study and continue to de-risk the project.
In addition to the ongoing mine studies, the aircore drill rig is in the midst of a 10,000 metre regional
exploration program which seeks to materially build on the success at Crusader-Templar Gold Deposit through
additional shallow gold discoveries - across the broader Wallbrook Gold Project. We look forward to sharing
updates as they become available during an exciting time on the project.”