Maximus Resources Limited provided an update on activities at the Spargoville Gold and Nickel Project, located 25km from BHP's Nickel Concentrator in the world-class Kambalda district, Western Australia. A ~6,500m air-core drill campaign will commence in the coming weeks on several high-priority nickel and gold targets generated from legacy geochemistry datasets and completed high-resolution geophysical surveys. A comprehensive review of the project was conducted by the company's recently appointed Exploration Manager, and this new programme reflects a cost-effective, systematic staged approach.

Nickel Exploration: The company's Spargoville tenement package is highly prospective for Kambalda-style komatiite-hosted nickel sulphide mineralisation, presenting the Company with an excellent opportunity to potentially discover nickel sulphides in a highly fertile area in parallel with advanced gold exploration. The principal source of economic nickel deposits within the Kambalda region is associated with the basal contact position of Komatiite channels and determining the basal contact position is essential in narrowing the search for discovering Kambalda-style nickel sulphide deposits. The Company has prioritised the targeting of several untested legacy copper and nickel soil anomalies in favourable stratigraphy.

The early stage air-core drill programme aims to define the exact location of basal contact and provide vital geochemistry data, to narrow in on prospective targets, for follow-up drilling. Central Nickel Target (Nickel rights 80% MXR, 20% ESS): The Central Nickel Target is ~5km of highly prospective stratigraphy between Estrella Resources Limited's 1A nickel mine to the north and Andrews Shaft /5A /5B to the south. The Andrews Shaft mine was active between 1974 and 1979 and closed due to low nickel prices.

Production from Andrew's Shaft was estimated at ~7,800t Ni in concentrate equivalent to approximately ~310,000t at 2.5% Ni. Hilditch - Nickel (90% MXR, 10% Bullabulling Pty Ltd). The Hilditch area is characterised by a structurally complex zone of mineralised komatiites.

Previous exploration focused on outcropping nickel-rich gossans and an extensive surface geochemical anomaly. Initial shallow drilling of the Hilditch target returned promising results including 2m at 2.4% Ni from 73m (HRC025) and 4m at 1.8% nickel from 25m (HRC052). Recently captured high-resolution drone magnetic surveys have provided greater detail of localised folding of known komatiite areas which may result in the remobilisation of nickel sulphides such as observed in the Nickel-Copper-Cobalt RC drill intersections at Hilditch West which included: 5m at 1.2% Ni and 2m at 1.5% Ni.

1A North /Central Area (Nickel rights 80% MXR, 20% ESS): Several air core drilling fence lines are planned to target an interpreted basal contact position along strike (north and south) from Estrella Resources Limited's historical 1A nickel mine which produced ~112,000t at ~3.8% Ni. Historical nickel intersections along the strike to the north suggest legacy drilling intersected the flank of an interpreted mineralised channel. To the South of the 1A nickel mine, drilling is designed to test the up-dip position of EM plates for pathfinder elements to determine if the conductive response is related to nickel-bearing or barren sedimentary sulphides.

Kemble - Gold (100% MXR): The Kemble gold prospect has a substantial gold-in-soil anomaly within an underexplored mineralised corridor, located ~3km north of the Company's Wattle Dam Gold Project. The tenement has had limited exploration comprising surface sampling and several shallow drill holes. Recent prospecting activities have yielded a considerable amount of gold near-surface, with the majority of recovered gold nuggets showing primary textures, indicating potential in-situ mineralisation at depth.