Nelson Resources Limited (Nelson or the Company) to provide a drilling and exploration update for its 100% owned Woodline and Tempest projects in the Fraser Range, Western Australia. At Woodline the aim of this Aircore drilling campaign is to test multiple targets identified in a review of the projects. This Aircore drilling program is intended to investigate gold-in-soil anomalies that are untested or poorly tested, extend the defined mineralisation over existing targets to expand the footprint of existing RC drilling targets and confirm the gold distribution in existing targets.

It is anticipated that there will be significant new targets generated that will be tested with RC drilling which is planned for later in the year. At Tempest, a passive seismic survey has demonstrated that the strong EM trend, interpreted to be a paleochannel draining south from the Tempest project, is likely to be the major structure seen in aeromagnetic imagery. This structure separates the prospective, strongly magnetic unit in the south-east of Tempest from the Fraser Complex to the west.

This structure is the target of the planned Aircore drilling program. The Company expects the Woodline and Tempest drilling campaign to be completed in approximately 6 weeks. Nelson's exploration program for the remainder of 2022 includes: Assessing the data obtained from the current drilling programs at Woodline and Tempest.

RC Drilling - At Fortnum a first pass drilling program over the main target zone identified through the recent project review. This is currently planned for September /October and is subject to Native Title clearance. At Socrates, Grindall and Redmill, several planned RC holes were not completed last year and these will be revisited for 2022.

In addition, new RC drilling targets are anticipated to be generated from the ongoing project review. Diamond Drilling - None for the remainder of the year. Other - Conduct Induced Polarisation and additional electromagnetic geophysical surveys to map the disseminated sulphides at West Socrates to assist with definition of drill targets.

Conduct Induced Polarisation and additional electromagnetic geophysical surveys to begin to map identified disseminated sulphides at Grindall and potentially Redmill. Follow-up surface geochemistry, geophysics and drilling at the Morris nickel prospect. This work will be done in conjunction with on-going exploration at the Company's Tempest gold and nickel project which is located 100 km east of Woodline.

Nelson Resources is an exploration company with a significant and highly prospective 1,488km² tenure holding (Granted and Pending). The key focus for the Company is its 1,220km² Woodline Project (Granted and Pending). The Woodline Project lies on the boundary of the Albany Fraser Oregon and the Norseman - Wiluna Greenstone belt in Western Australia.

The Woodline Project contains: 65km of the Cundeelee Shear Zone which already consists of a known +20km Gold Geochemical and bedrock anomaly, hosted in the same geological structural setting 2 as the 7.7 million ounce Tropicana Gold mine. 30km of significantly unexplored greenstones along the Norseman-Wiluna greenstone belt. A significant and unique holding within the confluence of the Keith-Kilkenny Fault /the Claypan Shear Zone and the Cundeelee Shear Zone.

These three Shears have hosted many of the larger gold projects in Western Australia. Historical exploration of $16 million by the Company, Sipa Resources, Newmont and MRG. The 7.7 million ounce Tropicana Gold Mine which is operated by AngloGold Ashanti was discovered in 2005 by IGO Group Limited via a gold-in-soil anomaly that led to further exploration and is one of the most important gold discoveries in Australia for decades.

Tropicana currently produces approximately 450,000 ounces per annum2. The Tempest and Fortnum srojects present significant Gold exploration opportunities for the Company. The Fortnum project is located in a poorly explored section of greenstone belt and based on historical exploration the project should deliver an effective return at a low cost to the Company.

Nelson Resources confirms that it is not aware of any new information or data that materially affects the exploration results included in this announcement.