Nemex Resources : Company update/Director appointment

Microsoft Word - 0001 - ASX 150716 Board Appointment - Wavefront update.docx

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Company Update / Director Appointment

15 July 2016

Fast Facts Capital Structure Shares on issue 241.3M

ASX Code NXR

Directors Hui Zhang Chairman Tao Ding

Non-Exec Director

Yongjin Li

Non-Exec Director

Contacts Mr Hui Zhang

T: +61 8 9388 2277

www.nemexres.com.au

Nemex Resources Limited (ASX: NXR) (Nemex or Company) provides the following update with respect to the Company and its investment in Wavefront Biometric Technologies Pty Ltd (Wavefront).

The Company is pleased to welcome Mr Yongjin Li as a Non-Executive Director of the Company. Mr Li graduated from the University of Science and Technology in 1983 and spent 15 years working for China Non Ferrous Metal Corporation (CNNC) which is owned by the China State owned Assets Supervision and Administration Commission of the State Council (SASAC).

Mr. Li has extensive experience working with Chinese State-owned companies and will assist with introducing Wavefront to potential technology development partners in China.

Nemex continues to assist and support Wavefront with respect to resolving the issues associated with the International Centre for Biometric Research at Purdue University ("Purdue ICBR") testing and with its ongoing technology development.

Wavefront has advised the Company it has engaged the services of a software development group based in Australia to upgrade Wavefront's system software to provide data output to calculate performance metrics in a format typically reviewed by Purdue ICBR.

The initial program, which is ongoing, has allowed image data to be captured and entered into the Wavefront algorithm and the resulting output data to be read in a format that is compatible with many commercial biometric readers.

Wavefront has advised that the initial work conducted has revealed that further refinements of the Wavefront technology should be undertaken before undertaking further independent validation at Purdue ICBR.

The further enhancements are expected to include:

• Development of the front end image capture capability;

• Refine the algorithm in terms of accuracy and possibly speed; and

• Optimization of the multi-modal aspects of the technology by creating an intelligent fusion methodology which could aid in the improvement of performance.

O BOX 281, Mount Hawthorn WA 6915 T: +61 8 9388 2277 F: +61 8 9380 6761

www.nemexres.com.au

Wavefront is targeting completion of the next phase of this work by September 2016 with a view to undertaking further independent validation at Purdue ICBR and reporting on its results by December 2016.

ASX has advised the company that it will need to provide submissions to determine whether the Company's shares can be reinstated to trading on ASX. The timeframe provided by ASX for this determination is approximately 2-3 weeks.

For further information about Nemex contact:

Hui Zhang (Chairman) Nemex Resources Limited P: 08 9388 2277

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