Poseidon Nickel provided its second update on the Black Swan 1.1Mtpa "Fill the Mill" project and the Bankable Feasibility Study process. KEY POINTS: Fill the Mill Strategy: Growing mine inventory supports restart strategy based on feeding the 1.1Mtpa processing circuit from a combination of feed sources to maximise nickel units produced. Further exploration success at Silver Swan ­ very high grade intersections: Assay results received from recent resource drilling at Silver Swan indicate potential for increased Reserve (up from current Silver Swan JORC Reserve of 6,800t Ni): PTMD005: 12.9m @ 10.63% Ni; PTMD007: 6m @ 11.36% Ni; PTMD014: 11m @ 13.26% Ni; PTMD015: 3.5m @ 16.30% Ni; PTMD018: 15m @ 17.92% Ni. Drilling in Black Swan Disseminated mineralisation returning positive results: Drilling results indicating potentially greater consistency of metallurgically favourable serpentinite mineralisation in the disseminated zone below the existing pit. Preliminary Investment Decision: Progress to date on the Fill the Mill strategy supports fast tracking a number of initiatives, including: further exploration down plunge of the existing Silver Swan resource to grow the high- grade mining inventory. commence studies on dewatering the Black Swan open pit in 2022. commence environmental and mine approvals process. employ personnel for key project management roles. undertake studies on site-based accommodation and commence approvals process. progress planning and approval for grid power allocation. Marketing and Project Funding: Indicative terms requested from prospective offtake parties indicate interest from market in preliminary Black Swan concentrate specification.