Nimy Resources Limited announced Carbonatite initially identified by previous explorer AngloGold Ashanti Australia in 2015 Structure presents as a caldera shaped magnetic high around a low magnetic core /dike Geophysical similarities to other known carbonatites such as the Mt Weld carbonatite Soil sampling has been undertaken and will continue across an expanded grid. Samples have been dispatched for ultrafine assay Drill program is being planned and anticipated to commence once POWs have been approved The Nimy Resources Mons Project tenement E77/2683 contains a caldera shaped geophysical feature interpreted in 2015 by AngloGold Ashanti Australia (WAMEX report A108135 Pindabunna Project 2015-2016) as a potential carbonatite intrusion. AngloGold Ashanti noted the potential carbonatite could be host to rare-earth or other economic minerals, but it was not tested as rare earth elements were not a target commodity for the company.

Carbonatites are rare igneous rocks (commonly intrusive) and can contain deposits of rare earth elements (REE) amongst a suite of other minerals such as niobium and phosphate. The Nimy Resources Mons Project carbonatite presents geophysically as similar to the Mt Weld carbonatite a world class producer of REEs. Geophysics indicate a magnetic low presenting as a core (possibly a dike) within a circular magnetic high.

There are no other interpreted magnetic anomalies high or low in the vicinity. Nimy Resources was granted the exploration tenement licence (E77/2683) in March 2021 and following extensive historical research have visited the site to conduct drone arial photography followed by the now completed initial soil sampling program. Twenty one samples have been submitted for assay.

The samples were collected on a west to east bearing across the centre of the carbonatite prospect. This will enable a first pass look at the surface geochemistry and inform future work. A more comprehensive soil sampling program is in process.

The area is heavily wooded and has little outcropping hence the use of a drone to assist in locating any outcropping present. Outcropping shown is a siliceous hard caprock of brecciated quartz in a clay matrix. There has been a significant focus on the increased demand for rare earths specifically around the part to be played in achieving net zero carbon emissions through the provision of clean energy technologies.

The carbonatite prospect exploration strategy will be accelerated to meet the opportunity presented with the discovery of critical rare earth elements. The immediate work plan includes further soil sampling and a reverse circulation test drill hole to 300m. Forward work plan The company's forward work plan at the Carbonatite prospect: · Process of soil sampling assays · Complete soil sampling across carbonatite area · POW and native title approvals · Lithological test via reverse circulation drilling of 1 hole to 300m · Assay of REE suite · Assess merits of reverse circulation, air core or diamond drilling follow up campaigns.