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NEOMETALS NEWS

UPDATED 26 NORTH RESOURCE AT MT EDWARDS INCREASES BY 51%

HIGHLIGHTS

  • Re-estimation of the Mt Edwards 26 North Nickel Sulphide Mineral Resource results in updated estimate of 871,000 tonnes at 1.43% nickel for 12,400 contained nickel tonnes, a 51% increase in contained nickel; and
  • Global Mineral Resources at the Mt Edwards Project now 10.215 million tonnes at 1.6% nickel for 162,510 contained nickel tonnes. Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”) is pleased to announce an updated Inferred Mineral Resource estimate for the Mt Edwards 26 North deposit (“Mt Edwards 26N”). The Mt Edwards 26N Mineral Resource was re-estimated by Richard Maddocks from Auralia Mining Consultants and reviewed by Snowden Mining Industry Consultants. The update at Mt Edwards 26N brings the global Mt Edwards Project Mineral Resources to 10.215 million tonnes at 1.6% nickel for 162,510 tonnes of contained nickel (refer to Table 2 on page 2 for the global Mt Edwards Project Mineral Resource Table).Mt Edwards 26N , often simply referred to as Mt Edwards, was mined for nickel sulphide between 1981 and 1994. Production records show 951,568 tonnes at 2.69% nickel grade for 25,632 tonnes of contained nickel were mined, initially by way of a shaft which remains in place today, and then through a box cut, portal and decline.