Neometals Ltd. announced details of the updated nickel Mineral Resource at the Munda deposit, estimated in accordance with the 2012 JORC Code. Acquired in early September 2019, Munda forms part of the Mt Edwards project which sits in an area of historic nickel sulphide producing mines. The Mineral Resource was estimated by Richard Maddocks from Auralia Mining Consultants, using historical and new drilling and assay data. The updated Munda Mineral Resource estimate showcases a respectable nickel grade and it bolsters the global contained nickel in the Mt Edwards Mineral Resources by approximately 5.8% to over 130,400 contained nickel tonnes. Recent diamond core drilling at Munda intercepted nickel sulphide in an area east of the main Munda nickel channel. The assay results confirm an 8.3 metre (down hole width) zone of nickel sulphide mineralisation from 93 metres down hole, with an enriched zone of 2.3m @ 6.11% nickel at the base of the ultramafic unit. This was the first drilling at Munda conducted for nickel exploration since 2007 and warranted a reinterpretation of the geology. The updated Mineral Resource estimate at Munda compliments the strategy of increasing the mineral inventory at Mt Edwards while seeking new discoveries. Neometals is targeting distinct highgrade zones on what is a large land holding in a wellrecognised nickel mining district. Consolidated Nickel had up to 38 geologists exploring for nickel on the Mt Edwards tenements and surrounding region prior to the global financial crisis. While the regional prospectivity has not changed, much of the knowledge was lost creating a significant opportunity for Neometals. Greater certainty on the tenor and scale of mineralisation aids the internal process which is underway to realise value from Mt Edwards. Future work at Munda will include diamond core drilling and sampling to firm up understanding of the specific gravity and mineralogy, which will likely increase confidence and enable an upgrade in the Mineral Resource classification and pave the way for mining studies. Mineral Resource Estimation; The Mineral Resource estimate for the Munda Deposit of 320k tonnes at 2.23% nickel for 7,140 nickel tonnes is reported in accordance with the 2012 Edition of the `Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' prepared by the Joint Or Reserves Committee of The Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (JORC Code). The Mineral Resource estimate follows a detailed interrogation and review of the available data, including the earlier reported Mineral Resource estimates by the previous holders of Nickel Mineral Rights on the tenement. Geology and Geological Interpretation; The Munda tenement lies at the northern end of the Widgiemooltha Dome, a double plunging anticlinal structure cored by deformed granitoid. The stratigraphy of basalt and ultramafic trends eastwest in the vicinity of the Munda deposit. Depth of complete oxidation varies from 10 to 80 metres below the natural surface but is typically around 4,050 metres in depth. While both gold and nickel mines occur in the Widgiemooltha area, Munda is unusual as gold and nickel occur within the same deposit albeit in adjacent areas, and not in the same rocks. Only the nickel mineralisation is discussed here, which is the interest of Neometals. Nickel Mineralisation The mineralised ultramaficfootwall contact dips northwards at 45o to 55o. The mineralisation is hosted within three shoots, which all plunge to the north east with a plunge component of approximately 70o. Disseminated sulphides, containing 0.5% to 1.5% nickel, form the bulk of the mineralisation which is concentrated in the basal metres of the ultramafic. High tenor massivematrix nickel sulphide mineralisation associated with the basal contact is poddy in nature.