Nimy Resources Limited announces bstantial Nickel Sulphide Mineralisation at Godley. The two diamond holes collared on the same pad represent the first deep drilling at the Mons Project. The previous campaign of reverse circulation drilling drilled to a maximum depth of 220m.

The two holes have provided excellent information enabling the primary objectives of obtaining lithological, structural, depth and mineralisation information to be met. The results confirm a significant body of potential nickel mineralisation at the Godley Prospect. NRDD001 returned a substantial intersection of 368m Ni @ 0.14% and 25.72% MgO from within 12m to 395m which includes pre-collar NRDD002 returned a substantial intersection of 427m Ni @ 0.14% and 26.03% MgO from within 19m to 456m.

A cut-off grade of 1000ppm nickel allowing for less than 2 metres internal dilution has been applied. The location and comparative significance of the first two diamond holes. The extent of the strike is ~39.4kms with a width of ~6.2kms. The point-to-point polygonal area containing potential nickel mineralisation measures 182.5kms. Both holes intersected intervals of nickel sulphide, copper sulphide along with pyrite and pyrrhotite.MgO is significant in helping determine the rock type.

Mineralisation remains open with Ni:Cr and ratios being applied supporting a western contact accumulation of the possible ore-grade mineralisation. The ratios support the structural interpretation around D1 of the komatiite flow, now dipping to the E-SE with the basal contact expected on the western contact of the flow. The Dease Prospect has further results pending including diamond hole NRDD004 whereby a 487.2m intersection of komatiite ultramafic rocks was logged beginning at 383.6 and continuing to the end of hole at 870.8. Thus, demonstrating evidence for a large nickel mineralising system at the Mons Project.

Also, at Dease, the gossan discovery and pending geochemical results take on special significance. Downhole EM was completed in NRDD002 and did not detect a bedrock conductor within an estimated range of 50m from the hole. The result is consistent with the hole location within the structural model relative to basement.

Electro-magnetic massive sulphide bedrock conductors are detectable within a limited range of a downhole survey. Disseminated sulphides are generally not detectable. A MLEM survey was completed over the Godley Prospect.

The survey was impacted by large areas of induced polarisation effects causing the EM response to be reduced or even negative. It has been recommended to Nimy that a FLTEM survey coupled with a SQUID sensor be undertaken. Work has commenced assessing the current data set including manually removing the IP effect and the merits of the FLTEM SQUID survey.

The MLEM data is being modelled in conjunction with radiometrics, gravity, DEM data, drilling, geological mapping and modelling, and geophysical datasets. The EM data is currently undergoing decay channel gridding, imaging and conductor plate modelling. The resultant work will assist in further target generation and drillhole planning at the Godley prospect.

This updated information will continue to be used for updating the Mons exploration targeting model and pipeline of exploration targets. Anomalous levels of lithium has been returned within narrow intervals of NRDD001 and NRDD002. The company's forward work plan at the Godley prospect: Complete MLEM survey analysis - decay channel gridding, imaging and conductor plate modelling.

Complete model in conjunction with radiometrics, gravity, DEM data, drilling, geological mapping and modelling and geophysical datasets. Target generation and drillhole planning at the Godley prospect. The Dease prospect has 4 diamond holes awaiting geochemical assay completion.

Dease prospect MLEM survey analysis is underway and will be coupled with structural interpretation, lithology and interpretation of geochemical results upon receipt. Diamond hole NRDD001 Ni:Cr ratios indicate that the rocks are increasing in prospectivity with depth. Values ranging from 0-1 identify rocks that are less prospective and are present from 12-282m in NRDD001.

Values ranging from 1-10 identify rocks that are more prospective and are present from 286-396m in NRDD001. Diamond hole NRDD002 contains: Rocks that are less prospective present from 18.65-361.53m. Prospective rocks are present from 363.75-455.7m.

Ni:Cr values between 10 and 100 likely represent potentially sulphide-bearing cumulates.