Nimy Resources : Semi Massive Sulphide Intercepted at Godley

Mons Nickel Project, WA

Semi massive sulphides within a 438m nickel - copper zone

• • The second diamond drill hole at the Godley prospect within the Mons project (NRRD002) has intersected a 438m thick zone of ultramafic and mafic rocks containing nickel and copper sulphides

• • Nickel sulphides (pentlandite) chalcopyrite, pyrrhotite and pyrite were observed in the logged core; the nickel sulphides were recorded as replacement, disseminated, blebby and semi massive

• • Nickel and copper mineralisation confirmed using pXRF; native copper was also observed

• • The first hole (NRDD001) at Godley intersected nickel sulphides and nickel and copper mineralisation using pXRF over a 275m zone

• • Assays are pending on both holes

• • In light of these highly promising results, down-hole electro-magnetic surveys have been prioritised

• • Lithological and structural interpretation underway

Nimy Chairman, Simon Lill, said:

"This is a highly promising start to our drilling campaign at Mons. We have now intersected nickel sulphides with nickel and copper mineralisation over substantial widths in two holes.

These results provide strong evidence that Godley hosts a large mineralised system with potential for high-grade zones.

We will now prioritise down-hole EM to help us with drill targeting at Godley while at the same time drilling is underway at the Dease target 7km to the north, where we recently discovered a nickel-bearing gossan at surface".

RELEASE DATE

13th April 2022

COMPANY DETAILS

ASX:NIM

Registered Office

254 Adelaide Tce, Perth, WA, 6000

Websitewww.nimy.com.au

[e-mail]

BOARD AND MANAGEMENT

Simon Lill

Non-Executive Chairman

Luke Hampson Executive Director

Christian Price Executive Director

Henko Vos Secretary/CFO

Ian Glacken

Geological Technical Advisor

CAPITAL STRUCTURE

Shares on Issue - 114m

Options Issue - 12.5m

Nimy Resources (ASX:NIM) is pleased to announce that the second diamond drill hole at the Godley target within its Mons Nickel Project in WA has intersected semi-massive sulphides with nickel and copper mineralisation.

The mineralistion was identified using pXRF over a 438m intersection. The first hole at Godley intersected mineralised nickel and copper sulphides over a 275m zone (see ASX release dated March 17, 2022).

The two diamond holes represent the first deep drilling at Mons Project (1761km²). The previous campaign (October 2020) of Reverse Circulation drilling drilled to a maximum depth of 220m.

Both holes intersected intervals of nickel sulphide (pentlandite), copper sulphide (chalcopyrite) along with pyrite and pyrrhotite. Hole NRDD002 also intersected native copper at 51.67m (Figure 1). The primary objectives of obtaining lithological, structural, depth (basal contact) and mineralisation information have been met.

Hole 1 (NRDD001 - depth 413.85m) intersected visible sulphide intervals predominately disseminated pentlandite.

Hole 2 (NRDD002 - depth 516.8m) collared on the same pad at azimuth 330⁰ dip 70⁰ intersected visible sulphide intervals the highlight being a semi -massive sulphide (pentlandite and chalcopyrite) zone (Figure 2) from 315.57 -317.08m downhole. Figure 3 to Figure 5 show sulphide intervals. Figure 6 shows the holes in cross-section.

Moving Loop EM (MLEM) and Downhole EM (DEM) are being conducted over the Godley target.

Figure 1 - Diamond Hole -NRDD002 - Native copper - 51.67m

Figure 2 - Diamond Hole NRDD002 (Dry and wet) - Semi massive sulphide (pentlandite (5%) and chalcopyrite (5%)) from 315.57m to 317.08m

Figure 3 - Diamond Hole NRDD002 (Dry and wet) - Tray #91 - Disseminated sulphide (pentlandite 2%)

from 323.3m to 327.4m

Figure 4 - Diamond Hole NRDD002 (Dry and wet) - Tray #92 - Disseminated sulphide (pentlandite 2%)

from 323.3m to 327.4m

Figure 5 - Diamond Hole NRDD001 (Dry and wet) - Disseminated sulphide (pentlandite 1%) from 242m - 243m

Work Management Process

Nimy Resources engaged Petricore Solutions (Kalgoorlie) to complete core logging, photography and sample preparation of the initial two diamond holes from the Godley target. Magnetic susceptability and specific gravity measurements were also taken for both holes by Petricore.

Samples for geochemical assay (NRDD001 335 samples, NRDD002 610 samples) have been despatched from Kalgoorlie to the Bureau Veritas laboratory in Perth.

Nimy collated pXRF readings of Ni, Cu, S, MgO and SiO2 levels to assist in lithological logging and initial identification of mineralisation styles present.

Diamond hole NRRD001 (Previously reported - ASX announcement 17th March 2022) core logging (now complete) recorded multiple intervals of visible sulphides (Refer Table 1).

Diamond hole NRDD002 core logging (now also complete) recorded multiple intervals of visible sulphides (Refer Table 2).

An Olympus Vanta Series pXRF was used to collect the readings.