NickelSearch Limited announced that outstanding DHEM results have been received at its Javelin target, identifying a strongly conductive plate just to the south of drill hole 22NRC002. The DHEM surveys were conducted following the completion of a short program of reverse- circulation (RC) drilling at the Javelin and RAV8 targets at the Company's Carlingup Nickel Sulphide Project (Carlingup) located near Ravensthorpe in Western Australia. RC Drill Program Overview: The Company engaged Three Rivers Drilling to drill four holes at the Javelin and RAV8 targets at Carlingup.

Holes were sampled in their entirety and sent to SGS for assay, with the most prospective intervals flagged for priority analysis. A more extensive greenfield drill program will commence in coming weeks, through which the Company will drill at the priority DHEM plates defined at Javelin and test other regional greenfield targets defined through geochemistry and geophysics. Javelin: RC drilling at Javelin focused on two target areas identified as coincidental geochemical and geophysical anomalism.

The first hole, 22NRC001, was drilled just beyond the target depth of 80m, and the second hole, 22NRC002, reached the target depth of 120m. 22NRC001 hit an anomalous intersection of 3m at 0.25% Nickel (Ni) within the transitional zone from 58m. While not significant, it does confirm that this unit is prospective for nickel sulphides.

Visual logging of 22NRC002 identified two sulphide bearing horizons within basalts of disseminated to matrix and massive sulphides, with pyrite being the visually dominant species. These horizons were logged at 62- 66m and 84-90m downhole depth. Priority assays confirm visual logging with minor gold anomalism and 1m at 0.7% Ni from 93m.

The DHEM surveys then conducted by NickelSearch at Javelin produced outstanding results, with several plates modelled. The largest plate measures about 200m x 150m with a conductance of around 2,000 Siemens (S), probably representing a lithological boundary. However, the large plate down plunge from massive sulphides returned a very high conductive source measuring up to 18,000 S, indicating that there is sulphidic mineralisation potentially extending at least 130m down plunge with a possible extension along strike.

This is a high priority target for follow up drilling scheduled to commence imminently. Another plate just above it is coincidental to the disseminated to matrix sulphide mineralised horizon and produced a plate with a conductance of 10,000 S, itself a good indicator of sulphide mineralisation for follow up. Logging and priority assay results at Javelin show that this is an area with fertile ultramafics for nickel, and a good sulphur source available that warrants the immediate drill testing of the DHEM plates.

RAV8: Drilling at RAV8 targeted possible structurally remobilised sulphides associated with a DHEM plate to the east (22NRC003) and extension of the main massive sulphide shoots south of the pit in an area of a weak DHEM plate (22NRC004). 22NRC003 was logged as mostly felsic volcanics with a couple of mafic dykes. One of these intrusives, from 120-123m, returned 3m at 0.56% Ni including 1m at 1% Ni at 121m which is interpreted as remobilised stringer nickel mineralisation.

DHEM was unsuccessful in testing the original target in this hole as the pvc casing was blocked at 122m. The style of mineralisation encountered in this hole is consistent with other mineralisation at RAV8 and is an example of structural remobilisation that has occurred in this deposit. Drill hole 22NRC004 hit thick intervals of ultramafics but was stopped 40m short of target depth after hitting a structure that caused excessive water to enter the hole that could not be controlled.

DHEM was inconclusive due to distance from target. This is still a valid target and will be redrilled as RC with a diamond tail to get past the structure. Geochemistry: The soils programs run over the Carlingup project in the past year have been reviewed by Dr Nigel Brand, a noted Geochemist with more than 25 years' experience, starting with WMC.

He has identified nine (9) high priority and 15 medium priority nickel and VMS targets. This interpretation will be added to the NickelSearch geological database and will be used as part of the ongoing target ranking process. Further Work: Follow up drilling is planned and awaiting RC rig arrival.

The program is planned to be approximately 1,500m from 10 holes. The priority target area is Javelin, plus the geochemical and geophysical targets on Sexton and RAV8 South, with Lipple and Wadley targets awaiting regulatory approvals for drilling. NickelSearch is pleased to have engaged the services of Strike Drilling for this program, through which the Company can trial the use of Strike's `Enviropod', a watertight, self-contained sump that is designed to capture the outside return and drill sample spoils and leave no water or soil contamination on the ground.

This aligns well with NickelSearch's desire to keep its environmental footprint to a minimum.