Neometals Ltd. announced encouraging assay results from reverse circulation ("RC") drilling at the Mt Edwards nickel project. Drilling, sampling and down-hole electromagnetic ("DHEM") surveys were conducted at the Armstrong deposit on Mining Lease M15/99, and on the recently acquired Exploration Licence E15/1553 located less than 2 kilometres directly north and along strike from Mincor's Resources NL (Mincor) Cassini Mineral Resource. The drilling at Armstrong and the yet to be named exploration licence E15/1553 comprised 11 RC holes for a total of 2,083 metres completed in November and December 2019. The program included a sampling and assay program with rigid QAQC controls that will enable results to be used in future Mineral Resource estimations. Throughout 2019, Neometals has been actively engaged in multiple drilling and exploration programs across the various deposits and prospects comprising its Mt Edwards project. The Company has been methodically validating and improving its drill-hole database, isolating high grade mineralisation and growing its Mineral Resource base. Exploration results to date, including the outcomes from this program, have provided strong encouragement regarding alternatives to realise value at Mt Edwards. Drilling at Armstrong was planned to infill and test extents of the Armstrong Mineral Resource (320,000 tones @ 2.6% nickel for 8,180 nickel tonnes), with a focus on understanding the interpreted down plunge mineralised zone, and remobilised high-grade shoots at depth below the main ultramafic-basalt contact. Assay results on M15/99 support the interpretation of thick disseminated nickel sulphide intercepts (up to 34 metres down-hole width) with high-grade zones of matrix to massive nickel sulphide up to 5 metres thick (5 metres at 9.63% nickel). The Company will now consider a campaign of diamond core drilling at Armstrong to further understand the structural orientation and metallurgical properties of the deposit. At E15/1553 ground geophysical surveys are planned to augment the geological knowledge gained from the recent drill and DHEM surveys. The Mt Edwards nickel project is centred around the small township of Widgiemooltha, located 90 kilometres south of Kalgoorlie in Western Australia. The project consists of 46 granted and pending mining tenements spanning approximately 50 kilometres of strike length over the Widgiemooltha Dome. The Widgiemooltha Dome is a world class nickel sulphide camp that has hosted several historical nickel mines. In November and December 2019 an RC drill program was conducted at the Armstrong deposit on Mining Lease M15/99 (3 holes for 826 metres), and on the recently acquired exploration licence E15/1553 (8 holes for 1,257 metres). Exploration Licence E15/1553 is located amongst the southern group of tenements held by Neometals at Mt Edwards, directly north and along strike from Mincor's Cassini Mineral Resource, and adjacent to Neometals Lake Eaton prospect. Drilling at the Armstrong deposit focussed on testing the down plunge component of an interpreted nickel sulphide channel located north of the previously mined open pit. In the existing data from previous drilling circa 2006 the association between the mineralised zones and the ultramafic-basalt contact was unclear, and areas of high-grade nickel located in basalt below this contact also warranted investigation. It was previously interpreted that there are some very high-grade nickel (>10%) zones at depth, which were shoots of remobilised nickel along fractures, joints and fault zones. All three RC holes successfully intercepted the "main" ore zone, with the first drill hole (MERC106) testing 60 metres "up plunge" from a known mineralised zone drilled in 2005. Logging showed a five-metre zone of massive sulphide considered nickel bearing from 207 metres downhole at the base of a broad 34 metre disseminated sulphide zone starting at 180 metres downhole. Assay results have confirmed the logging with nickel values of 9.4%, 10.8%, 10.3%, 12.1% and 5.6% in consecutive metres from 207 metres down hole, for an intercept of 5 metres at 9.6% nickel. The mineralised zone is in ultramafic rock which sits directly on the contact with the basalt, with the last metre of mineralisation at 213 metres down hole. The second hole drilled (MERC107) tested an area directly above and to the north of a mineralised zone known from previous drilling in 2005. Unfortunately, the drill trace deviated north from about 50 metres depth and missed the planned target area by about 15 metres. A zone of matrix sulphides where intercepted from 242 to 252 metres downhole, and assay results show a significant intercept of 10 metres at 1.65% Ni, including 1 metre at 5% nickel at 244 metres. Like drill hole MERC106, mineralization was elevated at the base of a broader disseminated zone, with 24 metres at 1.1% nickel from 229 metres downhole. Again, this mineralised zone sits directly on the ultramafic - basalt contact. It is interpreted that due to the deviation to the north and some lifting drill hole MERC107 has only tested the top edge of a north plunging mineralised channel. The size of the deviation of the drill path (20o) is much greater than other drilling around this location, which suggests there is a significant structural feature or strong localised foliation in this area. At 272 metres downhole depth MERC107 drilled from basalt back into an ultramafic rock, with an elevated nickel grade of 0.8% in a 4-metre composite sample received.