NEXUS MINERALS REVEALS MAJOR UPGRADE IN GOLD RESOURCES

Crusader-Templar MRE Surpasses 300,000 Ounces

Nexus Minerals Limited (ASX: NXM) today announced a significant update to its Crusader-Templar Mineral Resource Estimate (MRE), now boasting over 304,000 ounces of gold, marking an impressive 70% increase from previous figures. This revised estimate is based on new data obtained from the Wallbrook Gold Project in Western Australia, spotlighting the potential of the project’s eastern goldfields region.

Managing Director Andy Tudor stated:

The MRE update has yielded exceptional results with a 70%+ increase to 304,000 ounces of gold. This achievement is underpinned by a more robust geological and mineralisation model, and improved economic constraints using an optimised open pit shell for reporting.

The modelling exercise has demonstrated the value in orebody understanding and has continued to highlight the ongoing opportunity to build the project through exploration. Pleasingly, in the current market for gold, the optimisation work completed demonstrates the project provides significant scalability with the gold price.

The updated MRE details include:

  • Indicated Resources: 2,460 tonnes at 1.8 g/t for 140,000 ounces.
  • Inferred Resources: 3,210 tonnes at 1.6 g/t for 164,000 ounces.
  • Total Resources: 5,670 tonnes at 1.7 g/t for 304,000 ounces.

This update forms a strong foundation for ongoing mine studies at Crusader-Templar and coincides with plans for a comprehensive diamond drill program scheduled to begin in early May. The project continues to be supported by strong metallurgical recoveries, favourable environmental studies, and secure mining tenure, enhancing its infrastructure accessibility.

The exploration efforts are set to extend across the entire Wallbrook project, with the aim to further enrich the project’s portfolio over short, medium, and long-term prospects, continuing Nexus’s stride towards operational and strategic growth.

Read the full announcement

Goldman

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