Nexus Minerals : Drilling Advances Geological Knowledge on Pinnacles JV - 5 May 2016

fcb648fc-c9e2-4c9d-9451-148077eec6dd.pdf ASX ANNOUNCEMENT 5 May 2016 Drilling Advances Geological Knowledge on Pinnacles JV Tenement ASX: NXM Capital Structure

Shares on Issue 70.4 million Unlisted Options 3.5 million

Corporate Directory

Mr Paul Boyatzis

Non-Executive Chairman

Dr Mark Elliott

Non-Executive Director

Mr Bruce Maluish

Non-Executive Director

Mr Phillip Macleod

Non-Executive Director and Company Secretary

Mr Andy Tudor

Chief Executive Officer

Company Projects Eastern Goldfields WA Company and Farm-In JV tenements

Pinnacles JV Project (Gold) Pinnacles Project (Gold) Triumph Project (Gold)

Mt Celia Project (Gold)

• Latest 4 hole RC drill program intersects fault block immediately to the north of resource area
• Pinnacles West prospect interpreted to represent the displaced position of the Pinnacles East mineralisation within the fault block
• The Pinnacles North 1.6km x 300m coincident Au (>15ppb) / As (>50ppm) soil anomaly strikes in a northerly direction and is interpreted to be the extension of Pinnacles East mineralisation to the north of the fault block
• Resource area remains open to the south and at depth - to be targeted in next round of RC / DDH drilling
• Southern Geoscience Consultants engaged to undertake aeromagnetic data processing, imaging and interpretation
• Ground IP geophysical program commences mid May to assist in mineralisation targeting and structural interpretation

Eastern Goldfields gold explorer, Nexus Minerals Limited (ASX: NXM) (Nexus or the Company) provides an update from the latest 4 hole, 1164m RC drill program at the Pinnacles JV Project (Table 1 and Fig. 1).

The program was designed to test for extensions immediately to the north of high grade mineralisation intersected in previous drill holes (see Nexus ASX release 31/3/16). It was also designed to gain a better geological understanding of hydrothermal brecciation and silica flooding observed in these holes.

It is apparent from the recent drilling that these features are localised (

This fault block exhibits sinistral movement to the south-west, where the Pinnacles West prospect is interpreted to represent the relocated Pinnacles East mineralisation within the fault block. The Pinnacles North gold soil anomaly, recently identified by Nexus (see ASX release 3/5/16), representing the possible extension of the Pinnacles East resource area mineralisation to the north of the fault block.

The lithological weakness represented by the faults, have allowed the emplacement of late stage barren dolerite dykes in these locations.

Nexus Minerals Limited (ASX: NXM) ABN: 96 122 074 006

41-47 Colin Street, West Perth, Western Australia 6005 PO Box 2803, West Perth WA 6872

T:+61 8 9481 1749 F: +61 8 9481 1756 W: www.nexus-minerals.com

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Hole ID	Northing	Easting	RL	Depth (m)	Dip	Azimuth	Result
NMPRC8	6649460	439542	360	312	-60	105	NSI
NMPRC9	6649506	439557	359	348	-60	105	NSI
NMPRC10	6649490	439611	360	300	-60	122	NSI
NMPRC11	6649485	439662	361	204	-60	122	NSI

Table 1: Nexus Drill Holes RC Drill results. NSI - No Significant Intersections (1.0g/t Au cut off). Figure 1. Pinnacles JV tenement, April 2016 RC Drill Hole Locations and Interpretation. Figure 2. Pinnacles JV Long Section. Figure 3: Nexus Project Locations - Eastern Goldfields, Western Australia.

About Nexus

Nexus Minerals is a well-funded, diversified resources company with a portfolio of gold projects in Western Australia. With a capable and well-credentialed Board, assisted by an experienced management team, the Company is well placed to capitalise on opportunities as they emerge in the resource sector.

- Ends - Enquiries Mr Andy Tudor, Chief Executive Office Mr Paul Boyatzis, Non-Executive Chairman Contact Phone: 08 9481 1749 Fax: 08 9481 1756 Website www.nexus-minerals.com ASX Code NXM For Media and Broker Enquiries: Warrick Hazeldine / Andrew Rowell Cannings Purple +61 8 6314 6304

The information in this report that relates to Exploration Results is based on information compiled or reviewed by Mr Andy Tudor, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Tudor is a full- time employee of Nexus Minerals Limited. Mr Tudor has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity for which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". The exploration results are available to be viewed on the Company website www.nexus-minerals.com. The Company confirms it is not aware of any new information that materially affects the information included in the original announcement, and in the case of Mineral resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original announcements. Mr Tudor consents to the inclusion in the reports of the matters based on his information in the form and context in which it appears.