Nexus Minerals : Wallbrook Regional Drilling Intersects High-Grade Gold

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ASX: NXM

Capital Structure

Shares on Issue 289 million Options 20 million

Corporate Directory

Mr Paul Boyatzis Non-Executive Chairman

Mr Andy Tudor

Managing Director

Dr Mark Elliott Non-Executive Director

Mr Bruce Maluish Non-Executive Director

Mr Phillip Macleod

Company Secretary

Company Projects

Wallbrook Gold Project

Bethanga Copper-Gold Project

Pinnacles Gold Project

Pinnacles JV Gold Project

(with Northern Star Limited

ASX:NST)

Mt Celia Gold Project

Regional Prospect Highlights

• Branches, Solomon and Clement Prospects all intersect high-grade gold mineralisation - hosted in the same rocks and alteration style as Nexus' Crusader-Templar Prospect
• Branches Prospect delivers high-grade drilling results including:
• • 5m @ 17.91g/t Au (within 8m @ 11.37g/t Au from 118m);
  • 5m @ 5.45g/t Au and 3m @ 6.07g/t Au (within 36m @ 2.04g/t Au from 43m);
  • 6m @ 3.95g/t Au (within 31m @ 1.31g/t Au from 113m);
  • 8m @ 2.52g/t Au (within 13m @ 1.66g/t Au from 134m);
  • 6m @ 3.05g/t Au (within 9m @ 2.22g/t Au from 232m).
• Branches follow-up 4,000m RC drill program underway
• Solomon Prospect drilling intersects "The Right Rocks" with significant results including:
• • 10m @ 3.40g/t Au (within 22m @ 1.88g/t Au from 123m);
  • 3m @ 4.69g/t Au (within 26m @ 1.06g/t Au from 258m);
  • 3m @ 1.79g/t Au (within 6m @ 1.06g/t Au from 34m);
  • 2m @ 1.55g/t Au (within 8m @ 0.52g/t Au from 43m).
• Infill drill program being planned to test full strike extent of 5km+ of Mineralised Corridor 1 (MC1) from Crusader-Templar to Branches
• High-gradegold intersected at Clement Prospect - the first prospect to be tested at the southern end of the Mineralised Corridor 2 (MC2) 500m to the east of Crusader-Templar
• Clement returned mineralised gold intercepts from "The Right Rocks". Results from 3 holes, out of 7 drilled, received to date incl:
• • 4m @ 3.73g/t Au (within 10m @ 1.70g/t Au from 151m);
  • 2m @ 5.57g/t Au (within 10m @ 1.29g/t Au from 71m).
• Regional gravity survey completed - processing underway
• Multiple mineralised corridors and prospects demonstrates potential for an emerging gold camp
• Five drill rigs continue to operate on site - three RC drill rigs and two diamond drill rigs

Nexus Minerals Limited (ASX: NXM) (Nexus or the Company) is pleased to announce significant high-gradegold assay results from drilling completed at regional prospects, Branches, Solomon and Clement (new prospect), within the Company's Wallbrook gold project in WA.

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Nexus Managing Director Andy Tudor commented "Whilst still early in the evolution of the Wallbrook Gold Project, the scale of metal endowment of this large mineralised system is extremely encouraging. To have received such high-grade gold results from this early-stage regional drilling, in both near surface drilling and at a depth of over 200m vertically, leads Nexus to believe that we may be sitting on a significant gold camp. Our aggressive exploration strategy continues to reap rewards and on receipt of these stunning results from Branches Prospect, a follow-up RC drill program has already commenced."

Photo 1: Branches Prospect - follow up RC drill program underway

Nexus is undertaking a significant drill campaign at its Wallbrook gold project, 140km northeast of Kalgoorlie Western Australia. Three RC drill rigs and two diamond drill rigs are currently operating to evaluate the gold prospectivity across Nexus' extensive 250km2 tenement package.

Initial regional drilling has concentrated on the Branches and Solomon Prospects. Solomon lies 800m north of Templar, with Branches a further 2km north. These prospects sit on mineralised corridor 1 (MC1) that has been defined over 5km in length and some 300m wide. The mineralised corridor remains completely open at depth and to the north, where Nexus tenure continues along strike for a further 5km to beyond The Gap Prospect.

In a parallel mineralised corridor, the newly named Clement Prospect is located 500m to the east of the Crusader-Templar prospect on the next mineralised corridor 2 (MC2). A seven hole 1,104m RC drill program was recently completed at Clement and encouragingly sheared and hematite altered mineralised quartz porphyry units were intersected, with results from three holes received to date. The results from the other four holes are pending.

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Drilling at the Branches prospect consisted of a 4,814m, 22-hole RC program. The drilling successfully intersected mineralisation associated with sheared and hematite altered mineralised quartz porphyry units - "the right rocks", and the same rocks that host the gold mineralisation at the companies Crusader-Templar gold prospect over 5km to the south, and Northern Star's multi-million ounce Carosue Dam Gold Project a further 30km to the south.

A ~4,000m follow-up RC drill program has commenced to test for depth and strike extensions to the mineralisation.

Recent results from Branches Prospect drilling (sorted by depth) include:

1. Hole #418: 5m @ 5.45g/t Au and 3m @ 6.07g/t Au (within 36m @ 2.04g/t Au from 43m); o Hole #414: 6m @ 3.95g/t Au (within 31m @ 1.31g/t Au from 113m);
   o Hole #416: 5m @ 17.91g/t Au (within 8m @ 11.37g/t Au from 118m);
   o Hole #383: 8m @ 2.52g/t Au (within 13m @ 1.66g/t Au from 134m);
   o Hole #424: 6m @ 3.05g/t Au (within 9m @ 2.22g/t Au from 232m).

Photo 2 (left): Hole #418 5m @ 5.45g/t Au (from 43m) and 3m @ 6.07g/t Au (from 71m) within 36m @ 2.04g/t Au from 43m

Photo 3 (centre): Hole #416 5m @ 17.91g/t Au (within 8m @ 11.37g/t Au from 118m)

Photo 4 (right): Hole #424 6m @ 3.05g/t Au (within 9m @ 2.22g/t Au from 232m)