Caeneus Minerals Ltd. announced that its Phase 2 Reverse Circulation (RC) drilling program on its wholly owned Pardoo Nickel Project has been completed. The drilling program follows on from the highly successful Phase 1 drilling completed by the Company which intersected thick and shallow Ni-Co-Cu-Pd mineralisation. The Phase 2 holes were designed to begin infilling an historical and potentially open-pittable region at a 50 x 50 m spacing whilst continuing to define down-dip extensions.

Planned DHEM surveys will further test the continuity of the mineralisation at depth with the possibility of identifying off hole conductors which may vector to higher grade mineralsation within the ore body. The Phase 2 program comprised a total of 4157 m drilled for 20 RC drillholes bringing the total number of metres drilled by the company at Highway to 5865 m for a total of 34 RC drillholes. This new drilling is expected to provide the foundations for a JORC 2012 MRE which will be carried out by Entech Mining Consultants of Perth, WA.

During the Phase 2 drill program the team from Entech visited the Highway deposit to observe the RC drilling and view the nickel sulphide mineralisation being logged in the company's RC chips. The first assay results are anticipated for late November, after which Entech will start it's MRE work which is estimated for completion by early February 2023. 4157 m drilled for a total of 20 RC drillholes; 4561 samples sent for geochemical analysis; First assay results expected by late November; 5 priority deep RC drill holes successfully cased for DHEM surveying; Southern Geoscience Consultants (SGC) engaged to conduct a geophysical review of the Pardoo tenements and model EM plates from down-hole data; Entech Mining Consultants completed site visit for JORC (2012) compliance prior to a new Mineral Resource Estimate (MRE) commencement.