Poseidon Nickel provided the following update on the Silver Swan drilling program which is aiming to increase the high-grade resource base. The aim of this program is to increase the confidence in the resource, by converting existing resources from Inferred to Indicated and to potentially find high-grade mineralisation outside the current known resources. This latest hole will most certainly increase the amount of material in the Indicated Resource category. Infill drilling in and around the Tundra-Mute Mineral Resource continues. To date 18 holes have been completed with an outstanding intersection of 13.6m of massive sulphides being intersected in PTMD018. Estimated true width of the intersection is 9.8m. The abbreviated log of the visually mineralised interval is included as Table 1, with the core photographs included as Figure 1. The hole has been sampled and sent for analysis at SGS. The Company advises that visual estimates of sulphide material should never be considered a proxy for laboratory analysis, which are required to determine grade and widths for geological reporting and all reported intersection widths are measured down hole, not true thickness. These visual estimates potentially provide no information regarding potential impurities or deleterious physical properties. Assay results will be announced when they become available. The aim of the Tundra-Mute drilling program is to increase the confidence in the current Silver Swan Resource, by converting existing resources from Inferred to Indicated. If the drilling is successful, the Silver Swan Reserve should increase, which will assist the economics of the Fill the Mill Strategy. The intersection in PTMD018 falls within the previously announced Tundra-Mute Inferred Resource area as shown in Figure 2 and is typical of Silver Swan style mineralisation (refer ASX release dated 5 August 2019, "Silver Swan Resource Upgrade"). The Silver Swan Resource Estimate is included as Table 3 of this announcement. Once the current resource infill drilling program is completed at Tundra Mute the plan is to drill at least two deeper holes below the resource which will be used as EM platform holes. Assay results received to date from drilling in the Silver Swan Channel are presented in Table 2. It is believed that the mineralisation seen in PPCD009 is a remobilised stringer within fractured material associated with the emplacement of the Feral Fault, while the mineralisation seen in PPCD006 is 9 metres from the footwall contact and will be of insufficient width to be included in a mineral resource estimate. The current drill program is also testing for more high-grade mineralisation outside the current resources. EM surveys will be conducted in holes already drilled at Peking Duck and Fledgling Canard when an EM crew becomes available.