NickelX Limited announced that it is due to commence drilling at the Dalwallinu Project in late January 2024. The Company also advises that the Euro Option previously announced on 5 July 2023 and 7 July 2023 has lapsed, and the Company has executed a Finders' Fee agreement with Eyre Metals Limited ("Eyre Metals") to provide the data and intellectual property in respect of the Euro Option to Eyre Metals in consideration for 1,000,000 fully paid ordinary shares in Eyre Metals, subject to Eyre Metals successfully listing on the ASX. Eyre Metals intends to pursue the nickel and lithium projects in Central Europe the subject of the Euro Option via its own agreement with the project vendors.

Eyre Metals is an Australian, public unlisted entity that is proposing to list on the ASX in 2024. NickelX Limited is an Australian, ASX listed, Nickel exploration company exploring for Nickel sulphide deposits in the SE and SW Yilgarn supported by the Company's Nickel prospectivity database. The Company's primary focus is the highly prospective Dalwallinu Nickel-Copper-PGE project, where 2 high priority targets and 6 priority targets have been identified via geochemical, geophysical and geological evaluation, and where permitting and drilling contractors have been organized.

Competent 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 Consultant to NickelX 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.