PAYNS PROSPECT CONTINUES TO DELIVER HIGH-GRADE GOLD AT WALLBROOK

Nexus intersects visible gold and expands mineralised footprint to 900m x 750m

Nexus Minerals Limited (ASX:NXM) has reported further strong gold intercepts from aircore drilling at the Payns Prospect, part of the Wallbrook Gold Project in Western Australia. The results are from a recently completed 313-hole, 11,691-metre regional program across Payns, Target MC2.1 and Target MC5.3.

Recent assays from Payns continue to highlight broad and high-grade mineralisation, including visible gold.

Best intercepts from the latest round include:

4m @ 5.40 g/t Au from 28m
4m @ 4.39 g/t Au (within 8m @ 2.72 g/t Au) from 24m
4m @ 3.82 g/t Au (within 8m @ 2.73 g/t Au) from 32m
1m @ 5.69 g/t Au to EOH (within 3m @ 2.15 g/t Au) from 20m
4m @ 2.80 g/t Au (within 8m @ 1.47 g/t Au) from 40m – VISIBLE GOLD

These results follow earlier intercepts including:

4m @ 7.12 g/t Au (within 20m @ 1.77 g/t Au) from 8m
4m @ 6.98 g/t Au (within 8m @ 3.44 g/t Au) from 40m
4m @ 6.85 g/t Au (within 16m @ 2.74 g/t Au) from 28m

The mineralised zone at Payns now extends over an area of 900m by 750m, with drill planning already underway for RC follow-up. Final results from Targets MC2.1 and MC5.3 are expected by the end of April, with the next regional aircore program scheduled to start in mid-April.

Nexus Managing Director Andy Tudor commented:

Payns Prospect has once again provided some great broad high-grade gold results for the Wallbrook Gold Project. The expanded mineralised zone now covers some 900m x 750m of prospective geology and mineralisation. The prospect is ideally situated, located immediately along strike of major deposits currently being mined by Northern Star Resources. The tenor and spatial significance of gold mineralisation identified to date represents a major regional success, and observation of visible gold further supports our confidence in the ongoing potential at the Payns prospect. The prospect already ranks highly in regards to our regional exploration targeting program, and as such RC drill hole planning has now commenced.
We already have the next aircore drill program confirmed to commence in mid-April, as assessment and ranking of priority regional targets accelerates. We look forward to sharing the results of MC2.1 and MC5.3 by the end of April.