06 Dec 2021

MLEM Survey Underway at Nepean Nickel Project

Level 1 , 10 Outram Street West Perth, WA 6005 | contact@bpmminerals.com | +61 8 9467 6393 1 6 December 2021 MLEM SURVEY UNDERWAY AT NEPEAN NICKEL PROJECT BPM Minerals Ltd ( ASX: BPM) ( ‘ BPM ’ or ‘ the Company ’ ) is pleased to announce that a Major M oving - L oop E lectromagnetic ( ‘ MLEM ’ ) survey has commenced at the Nepean Nickel Project (Fig. 1) , located 25km from Coolgardie, Western Australia. Figure 1 – Nepean Nickel Project with MLEM Survey Area overlain BPM’s maiden aircore drilling Level 1 , 10 Outram Street West Perth, WA 6005 | contact@bpmminerals.com | +61 8 9467 6393 2 6 December 2021 MLEM SURVEY OVERVIEW • Major moving - loop electromagnetic survey has commenced over aircore targets (N1 - N3) to identify potential bedrock conductors. • Previous aircore drilling successfully mapped three broad zones of ultramafic/mafic rocks which are potentially fertile for nickel sulphide mineralisation. • Initial aircore results from BPM drilling outlined a shallow 200m - long nickel (Ni) anomaly, up to 47m thick which re mains open to the southeast and will be covered by the MLEM survey. • GEM Geophysic s are completing the MLEM Program on 100 m station spacing and 400 m line spacing. • Electromagnetic surveys are particularly effective in detecting nickel - copper massive sulphides at significant depths below surface due to their conductivity. • BPM’s Nepean Nickel Project directly abuts the historic high - grade Nepean nickel sulphide mine, which produced 32,303t of nickel metal at an average recovered grade of 2.99% Ni 1 ( Fig. 1) . • M LEM surve y to cover a large portion of the Nepean Project to prioritise areas for Reverse Circulation drilling . ABOUT NEPEAN The Nepean Gold and Nickel Project comprises a single granted exploration licence covering an area of approximately 39km 2 . The historical Nepean nickel sulphide deposit, which was discovered in 1968, directly abuts BPM’s Nepean Gold and Nickel Project. Previous exploration during the 1980s targeted nickel sulphide mineralisation with only some drill hole samples sporadically a nalysed for gold. The Nepean Gold and Nickel Project is only lightly explored with the majority of the Project area under cover. The Project is considered to be prospective for both nickel sulphide mineralisation and gold mineralisation. The Project is loc ated approximately 25 km south - southwest of Coolgardie within the Coolgardie Geological Domain, close to the Bullabulling Domain which are separated by the Bullabulling Shear Zone. 1 ASX Announcement – Focus Minerals commences Feasibility study on Nepean Nickel Project (12 June 2007) . Level 1 , 10 Outram Street West Perth, WA 6005 | contact@bpmminerals.com | +61 8 9467 6393 3 6 December 2021 - END – This release is authorised by the Board of Directors of BPM Minerals Limited. For further information contact: Chris Swallow Chief Executive Officer E: contact@bpmminerals.com P: +61 412 174 882 Competent Person ’ s Statement The information in this announcement that relates to Exploration Results is based on information compiled by Oliver Judd , who is a Member of AusIMM and who has more than five years’ experience in the field of activity being reported on. T he information in the market announcement is an accurate representation of the available data. Mr. Judd has sufficient experience which is relevant to the style of m ineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Rese rves’. Mr. Judd consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Level 1 , 10 Outram Street West Perth, WA 6005 | contact@bpmminerals.com | +61 8 9467 6393 4 6 December 2021 ABOUT BPM MINERALS BPM Minerals Limited (ASX:BPM) is a Perth - based gold, nickel and base - metal explorer with a portfolio of projects located across some of Western Australia’s most prolific greenstone belts and base - metal basins (Fig . 2 ) . The Company is building its landholdings within Tier - 1 mining locations, close to existing deposits and world - class infrastructure. Figure 2 - BPM Minerals Western Australian Base and Precious Metals Projects .
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