NickelX Limited announced that it has completed, and processed data from, a detailed close spaced drone Magnetic Survey over the Dalwallinu project, refining targets where the Company is seeking Julimar Style Nickel-Copper-PGE mineralisation. The detailed magnetic survey covered the entire Barra Barra mafic ­ ultra- mafic intrusive target with 50m spaced flight lines. Nickel X to commence a detailed infill soil sampling programs on 50m x 50m grids to refine and to extend selected targets (current survey completed on 100m x 200m grid).

Previous surface geochemistry sampling recorded some of the Western Yilgarn PGE recordings (73.7ppb Pt & Pb with a 5km +10ppb Pt & Pb north-south strike) and 466ppm Ni and 843ppm Cu. The Dalwallinu project covers 86km2 of the entire Barra Barra Greenstone Belt, 150km NE of Julimar, is on accessible private farmland, containing sealed road frontage and where native title has been extinguished. Ground geophysics (electromagnetics (EM)) to commence over targets and planning of a maiden drill program to test priority EM and geochemistry target.

Discussions with private landowners underway such that the next stage of work programs seeking Julimar style of Nickel-Copper-PGE mineralisation can commence. Dalwallinu Nickel Copper Pge Project: The Company contracted SensorEM to carry out a drone airborne magnetic survey over the entire Dalwallinu project tenement E70/5398. The survey was flown on 50m spaced lines, oriented east-west at a sensor height of 40m above ground.

In all 771 line-kilometres of magnetic data was obtained over the project. The new magnetic data represents a far superior product to the previous regional magnetic data for target delineation on the project. Preliminary interpretation of the new magnetic data indicates that the Barra Barra Greenstone Belt intrusive targeted for Ni-Cu-PGE mineralisation represents a folded tabular body, either originally a dyke or a sill.

The body appears to be tightly folded, with a western antiformal structure plunging steeply to the north in the west of the tenement, and a shallowly north plunging synformal structure in the east of the project. Overlaying the previously reported auger geochemistry data on the new magnetic data highlights an apparent intrusive body horizon just outboard and bordering the main folded magnetic strata, that is anomalous for Ni-Cu-PGE. This may represent a sill- like body lying structurally below and folded with the magnetic strata.

Four areas are highlighted with anomalous metal values in the auger geochemistry data. These areas represent priority targets for follow-up exploration, as does investigation of the margins of the antiform folded magnetic body in the west of the project. Planning is currently underway to infill auger geochemistry over these four priority areas, with follow up ground electromagnetic surveys to follow.

The results of the infill geochemistry and EM will be targeted with a maiden drilling program once appropriate permitting is in place. Dalwallinu Nickel Copper Pge Project: The Dalwallinu Nickel Project (E70/5398) covers 86km2 of the underexplored Barra Barra Greenstone belt in the emerging West Yilgarn, which is host to several recent Nickel-Copper- PGE discoveries including the world class Julimar Nickel-Copper-PGE discovery. Recent geochemical and geophysical work programs, evaluated by the Company have identified priority Nickel-Copper-PGE targets over a strike length of 6km, with more detailed geochemical, geophysical and drilling work planned.