Nexus Minerals Limited announced further significant broad high-grade gold assay results from drilling completed at the Crusader - Templar Prospect, within the Company's Wallbrook gold project in the eastern goldfields of WA. Nexus drill campaigns have concentrated on a mineralized corridor 1.6km in length and some 300m wide, with the drilling being undertaken on granted mining tenements. The highly prospective tenure is situated between Northern Star's operating Porphyry mining center and its multi-million ounce Carosue Dam mining operation - where Northern Star's 3.2 million tonne per annum gold processing plant is located.

The Crusader-Templar drilling has successfully shown the mineralization to be continuous along the full extent of the 1.6km mineralized corridor tested to date, with multiple sub-vertical sheeted mineralized porphyry units being mapped effectively. The strong continuity of mineralization associated with these sub-vertical porphyry units allows for effective drill targeting of the mineralized zones. Drilling at the most northern end of the Crusader-Templar prospect has been focused on the detailed 20mx20m pattern drilling of the oxide component of the mineralization down to ~100m.

This targeted shallow drilling has been designed to allow the detail required for inclusion in a mineral resource estimate and pit design optimization studies, to be undertaken on any potential shallow oxide resource. Previous metallurgical test work on this oxide material returned positive results with gold recoveries of 98% being achieved. The density of drilling is now providing evidence for a southerly plunge to the high-grade gold shoots.

Recent deeper RC drilling has effectively targeted these zones in the fresh rock, with gold recoveries of up to 98% also being achieved. Recent results from Nexus targeted drilling include: Shallow Oxide Mineralization <100m: 9m @ 7.30g/t Au (within 19m @ 3.81g/t Au from 43m); 7m @ 2.34g/t Au (within 11m @ 1.62g/t Au from 25m); 5m @ 3.26g/t Au (within 12m @ 1.53g/t Au from 68m); 17m @ 1.31g/t Au (within 42m @ 0.79g/t Au from 18m);5m @ 2.19g/t Au (within 12m @ 1.43g/t Au from 71m). Transition Mineralization 100m-175m: 20m @ 4.60g/t Au (within 33m @ 2.96g/t Au from 110m); 5m @ 4.65g/t Au (within 9m @ 2.88g/t Au from 123m); 3m @ 4.19g/t Au (within 7m @ 2.09g/t Au from 158m); 4m @ 2.92g/t Au (within 8m @ 1.50g/t Au from 117m).

Deeper Primary Mineralization >175m 4m @ 7.09g/t Au from 188m; 3m @ 4.05g/t Au (within 12m @ 1.12g/t Au from 175m); 4m @ 3.89g/t Au from 296-300m (EOH); 2m @ 5.17g/t Au (within 8m @ 1.37 from 202m); 8m @ 2.36g/t Au (within 22m @ 1.03g/t Au from 173m). In association with Company geologists, Snowden Optiro mining consultants have commenced geological modelling and four initial cross sections have been prepared. The four cross-sections are representative of the geology and mineralization across the 1.6km Crusader-Templar corridor.

Their location is annotated (as Northings) on Figure 2, with the cross-sections clearly demonstrating the continuity of the mineralization, and the emerging multiple sub-vertical mineralized porphyry units (highlighted and numbered in red). Importantly these gold bearing porphyry units are now mapped along 1.6km of strike from near surface to depths exceeding 600m vertically. Are now able to map out specific porphyry units by their specific mineralogy/alteration assemblage.

Porphyry's 7 and 8 have now been mapped in diamond core and fresh rock RC chips in all sections for the full extent of the 1.6km and are continuous. Porphyry's 7 and 8, and the host rocks in-between them, to date exhibit the best gold mineralization, and whilst Porphyry 4 is highly mineralized, further drilling will be required to determine the extent of the mineralization. The Templar drilling is now mostly at a density of 80x80m with some 40x40m and a small portion of 20x20m.

Mineralization is much broader and exhibits elevated gold grades particularly in the oxide material. More drilling is required from a depth of around 200m to better assess the deeper mineralization associated with P? and P? (yet to be numbered and annotated as P?). These two new porphyry units have been identified to the east (yet to be numbered and annotated as P?).

Company geologists are waiting on petrology on a number of samples to better define the mineralogy and alteration assemblages, and ultimately number these porphyry units. More drilling is needed to fully assess these new porphyry units, with deeper drilling returning 4m @ 5.09g/t Au (within 28m @ 1.65g/t Au from 336m), and 300m north of that intersection, 5m @ 5.09g/t Au (within 24m @ 2.10g/t Au from 298m). When the Templar sections are overlain, they show good correlation to the mineralization and porphyry units, confirming the continuous nature of the main mineralized Porphyries 7 and 8, and the newly identified mineralized porphyries P?.

Crusader drilling is now mostly at a density of 20x20m (down to 200m) and provides a clear picture of the mineralized porphyries. The two Crusader sections provided (figures 5 and 6) are some 340m apart and when overlaid show good correlation to the mineralization and porphyry units, confirming the continuous nature of the main mineralized Porphyries 7 and 8. When all four sections are laid over each other they show the full extent of the 1.6km continuous nature to both the strike of the mineralization and also the depth correlation to the mineralization, and in particular the P7 and P8 porphyry association to the mineralization. The Link Zone drilling has a low drill density of less than 80x80m, with some sections containing no drill testing at all.

Porphyries 7 and 8 show good continuity through the Link Zone and in addition to them, the multiple porphyries P? remain to be tested through this zone.