GME Resources Ltd. announced that a bulk sample collection and sonic metallurgical drilling program is underway at the NiWest Nickel Cobalt Project ("NiWest" or the "Project"). The site work program will take approximately eight weeks to complete with results expected in the March quarter 2023. NiWest is an advanced project with a large, high-grade laterite resource of 85.2 million tonnes grading 1.03% nickel and 0.065% cobalt containing 878kt of nickel and 55.4kt of cobalt.

A Definitive Feasibility Study ("DFS") has already commenced and is to include front end engineering and early constructor involvement. The current drill program will support the DFS revised mine plan and the Company's battery metals offtake and partnership strategy. A bulk 10 tonne sample at the Mt Kilkenny project area has been completed, with material in the process of being transported to Perth for metallurgical processing.

The material will be subjected to the proposed NiWest process route at a pilot scale to produce battery-grade nickel and cobalt sulphate products for provision to potential offtake partners. This includes Stellantis which GME has signed a non-binding Memorandum of Understanding being for the future sale of quantities of battery-grade nickel and cobalt sulphate products. The Sonic drill program will produce a significant quantity of high-quality mineralised sample to be used to confirm and support previous metallurgical results achieved at Hepi, Mt Kilkenny and Eucalyptus.

The program also includes testing of the Wanbanna deposit (Figure 2) which hosts a resource containing 111kt of nickel and 7.2kt of cobalt which was not included in the 2018 NiWest Pre-Feasibility Study (PFS) mine plan. Inclusion of Wanbanna into the current DFS mine plan has potential to further enhance project economics and extend mine life potentially beyond 30 years.