March 2022


onlyImportant Information

Disclaimer, Forward Looking and CP Statements

C mpetent Person's Statement

The information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Tony Donaghy who is a Registered Professional Geoscientist (P.Geo) with the association of Professional Geoscientists of Ontario (PGO), a Recognised

Professional Organisation (RPO). Mr Donaghy is an employee of CSA Global, an ERM Company, and is contracted as Exploration Management useConsultant to Nickel X Limited. Mr Donaghy has sufficient experience which is relevant to the style of mineralisation and types of deposit under

consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Donaghy consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward Looking Statements

Some statements in this announcement regarding estimates or future events are forward-looking statements. Forward-looking statements include, but

are not limited to, statements preceded by words such as "planned", "expected", "projected", "estimated", "may", "scheduled", "intends",

"anticipates", "believes", "potential", "could", "nominal", "conceptual" and similar expressions. Forward-looking statements, opinions and estimates included in this announcement are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Statements regarding plans with respect to the Company's mineral properties may also contain forward looking statements. Forward-looking statements are provided as a general guide only and should not be relied on as a guarantee of future performance. Forward-looking statements may be affected by a range of variables that could cause actual results to differ from estimated results expressed or implied by such forward-looking statements. These risks and uncertainties include but are not limited to liabilities inherent in exploration and development activities, geological, mining, processing and technical problems, the inability to obtain exploration and mine licenses, permits and other regulatory approvals required in connection with operations, competition for among other things, capital, undeveloped lands and skilled personnel; incorrect assessments of prospectivity and the value of acquisitions; the inability to identify further mineralisation at the Company's tenements, changes in commodity prices and exchange rates; currency and interest rate fluctuations; various events which could disrupt exploration development activities, operations and/or the transportation of mineral products, including labour stoppages and evere weather conditions; the demand for and availability of transportation services; the ability to secure adequate financing and management's ability to anticipate and manage the foregoing factors and risks and various other risks. There can be no assurance that forward-looking statements

will prove to be correct.



Building nickel sulphide assets

Drill ready targets and a pipeline of opportunities

NickelX has received overwhelming shareholder support to acquire the Cosmos South Nickel Project in the world class Nickel

onlyproducing Wiluna Greenstone Belt (WGB), dominated by IGO and BHP.

Cosmos South is ~10km south of the world class Cosmos Operations (ASX:IGO) and ~20km north of the world class Leinster

Operations (ASX:BHP) within the prolific Wiluna Greenstone Belt (WGB),

Ultramafic rocks which host Nickel mineralisation to the north and south, interpreted to strike through the Cosmos South Nickel


project, which has been identified from preliminary review of existing Magnetic data

A high priority electromagnetic conductivity anomaly target at CS1 has been identified, via geological interpretation and


geophysical data review including Moving Loop Electromagnetic (MLEM) and Fixed Loop Electromagnetic (FLEM) surveys.

The CS1 target in MLEM data is interpreted to be shallow (depth to top ~60m), multiple large conductors, with a time

constant estimated to be 500ms and modelled conductance of 12,000 Siemens.

The CS1 target in subsequent FLEM data is interpreted to be a shallow (depth to top ~80m) large bedrock conductor with a

strike length of 565m and depth extent of 850m, a time constant of 700ms and modelled conductance of 11,300 Siemens.

The project has not been the subject of any systematic exploration drilling, due to the targets being obscured beneath cover

associated with Lake Miranda, yet significant exploration and discoveries have been undertaken directly north and south of

the project area, where the bedrock outcrops.


Capital Structure

Well valued MC and Fully Funded


Current Price


Shares on issue(undiluted)



Market Capitalisation (undiluted)


Shares on issue (fully diluted)


Market Cap. (fully diluted)


Current Enterprise Value (EV)



Cash at Bank (June)



Team with significant nickel experience

Deep corporate and technical capabilities




Mr Downes is a mining executive with 25 years' experience in the mining industry and has

Jonathan Downes

worked in various geological and corporate capacities. Jonathan has experience with


nickel, gold and base metals and has also been involved with numerous private and public

capital raisings in the mining industry

Mr Matthew Gauci

Mr Gauci is a mining executive with 20 years' experience in the mining industry and has

generated and developed exploration and mining projects internationally and successfully

Managing Director

transacted with major funds & companies. Mr Gauci is a member of the Corporate and Tax


Committee of the Association of Mining and Exploration Companies (AMEC).

Dr Kreuzer is a corporate geoscientist and recognised project generation and targeting

Dr Oliver Kreuzer

specialist, having been involved in the generation and exploration of significant gold, base

Technical Director

and energy metals exploration projects in Australia, North America and Africa.

Dr Kris Butera

Dr Butera is a highly experienced and well respected discovery and corporate geologist

with significant executive leadership experience, and has been involved in the generation,

Exploration Director

discovery and marketing of significant Australian base and precious metals projects.

Mr Tony Donaghy

Mr Donaghy is an internationally recognized expert in the global search for nickel, copper,

cobalt and platinum group elements (PGEs) and a skilled exploration geologist who is

Nickel Consultant

familiar with most geological environments and a broad variety of mineral commodities.


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Nickelx Ltd. published this content on 17 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2022 02:20:08 UTC.