NickelSearch Limited announced assay results from the maiden RC drill program completed in December 2021 and the completion of a second phase of resource infill and extension drilling (air core (AC) and RC) as well as metallurgical drilling (diamond, or DD) of the known nickel sulphide deposits at the Carlingup Nickel Project (Carlingup or the Project). In addition to previously reported remnant extensions to massive sulphide at Shoot 3: 5m at 2.5% Ni and Shoot 1: 5m at 1.0% Ni it is now confirmed from recently received assays that a very wide zone of disseminated nickel sulphide occurs to the west of Shoot 1 and the existing pit that will increase the size and confidence of the Mineral Resource estimate. The best intersections, occurring in drill holes NIS006 and NIS005, were 76 and 56 metre thick intervals respectively of multiple stacked zones of nickel mineralisation, demonstrating bulk tonnage potential including.

In addition to the results of the RC drilling, NickelSearch cut and resampled 8 historical diamond core holes stored at RAV8 to establish confidence in the current resource through new assays and density measurements. The sampling exercise had the added advantage to help establish the potential grades of lower grade disseminated nickel sulphide mineralisation that the Company believes is located on various stockpiles at the RAV8 mine site and available for early production. Locating and quantifying stockpile material will be undertaken in Third Quarter CY2022.

Diamond drilling at RAV8 has also been completed, where the Company drilled three holes for 377m. Analysis of core, including scanning by Minalyze Pty Ltd, is in progress and will provide density, structural, and additional resource data prior to metallurgical sample selection.