Saracen Mineral Holdings Ltd

Published : August 18th, 2016

Corporate Update -

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Keywords :   Australia | Diamond | Georgia | Gold | Gold Mines | K Street | Mines | Target |

Corporate Update - 18 August 2016

ASX ANNOUNCEMENT 18 August 2016

CORPORATE UPDATE

ASX: NXM

Capital Structure

Shares on Issue 70.4 million Unlisted Options 2.5 million

Corporate Directory

Mr Paul Boyatzis

Non-Executive Chairman

Mr Andy Tudor Managing Director

Dr Mark Elliott

Non-Executive Director

Mr Bruce Maluish

Non-Executive Director

Mr Phillip Macleod Company Secretary

Company Projects Eastern Goldfields WA Company and Farm-In JV tenements

Pinnacles JV Project (Gold) Pinnacles Project (Gold) Triumph Project (Gold)

Mt Celia Project (Gold)

Nexus Minerals Limited (ASX: NXM) (Nexus or the Company) is pleased to advise the following corporate update.

Nexus is pursuing a capital raising via a placement of shares to fund the advancement of the Pinnacles gold project. This includes the resource drill out of the Pinnacles East resource area and associated mine development studies. The funds will also allow for the acceleration of the Company's regional exploration program across the highly prospective 100km2 Pinnacles tenement package (Fig 1), and working capital requirements.

Figure 1. Pinnacles Gold Project

Nexus Minerals Limited (ASX: NXM) ABN: 96 122 074 006

41-47 Colin Street, West Perth, Western Australia 6005 PO Box 2803, West Perth WA 6872

T:+61 8 9481 1749 F: +61 8 9481 1756 W: www.nexus-minerals.com

Page 1 of 2

Nexus has recently completed the latest Pinnacles gold resource extension drill program (see ASX release 25 July 2016). This phase 3 program continued to test the potential for depth and strike extensions to the south of, and beneath, high grade gold mineralisation identified to date. The 6 hole, 2,244m program was a combination of RC drilling, and RC drill pre-collars with Diamond core tails.

The drill holes intersected geology, alteration and structures similar to those observed in previous Nexus drilling and historic drill holes by previous operators. Drill samples have been submitted for analysis with initial results expected early September 2016. On completion of geological assessment, the results will be released.

The regional program (6 hole / 825m RC drilling), was designed to test two target areas identified by recent geological / geophysical work undertaken by the Company. Drill samples have been submitted for analysis with initial results expected late September 2016. On completion of geological assessment, these results will also be released.

About Nexus

Nexus has entered into a Farm-in and Joint Venture Agreement over the Pinnacles JV Gold Project with Saracen Gold Mines Pty Ltd, a subsidiary of Saracen Mineral Holdings Limited (ASX:SAR) (see ASX Release 17 September 2015). This investment is consistent with the Company strategy of investing in advanced gold exploration assets.

Nexus Minerals is a well-funded resource company with a portfolio of gold projects in Western Australia. With a capable and well-credentialed Board, assisted by an experienced management team, the Company is well placed to capitalise on opportunities as they emerge in the resource sector.

Nexus looks forward to keeping shareholders informed of any material developments.

- Ends - Enquiries Mr Andy Tudor, Managing Director

Mr Paul Boyatzis, Non-Executive Chairman

Contact Phone: 08 9481 1749

Fax: 08 9481 1756

Website www.nexus-minerals.com ASX Code NXM

For Media and Broker Enquiries:

Warrick Hazeldine / Andrew Rowell Cannings Purple

+61 8 6314 6304

The information in this report that relates to Exploration Results is based on, and fairly represents, information and supporting documentation prepared, or reviewed, by Mr Andy Tudor, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Tudor is a full-time employee of Nexus Minerals Limited. Mr Tudor has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity for which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Tudor consents to the inclusion of the matters presented in the announcement in the form and context in which they appear.

Page 2 of 2

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Australia | Georgia | All
Gold and Silver Prices for these countries : Australia | Georgia | All

Saracen Mineral Holdings Ltd

PRODUCER
CODE : SAR.AX
ISIN : AU000000SAR9
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Saracen Minerals Holdings is a gold producing company based in Australia.

Saracen Minerals Holdings holds various exploration projects in Australia.

Its main assets in production are CAROSUE DAM and SOUTH LAVERTON in Australia, its main assets in development are PORPHYRY, SAFARI BORE and RED OCTOBER in Australia and its main exploration properties are DEEP SOUTH UNDERGROUND, MEXICO, ELLIOTS LODE, MILLION DOLLAR, MONTYS DAM, MARGARET, YUNDAMINDERA, TWIN PEAKS, BUTCHER WELL, ENTERPRISE, DEEP SOUTH, WALLBROOK, PORPHYRY UNDERGROUND, KARARI and WHIRLING DERVISH in Australia.

Saracen Minerals Holdings is listed in Australia. Its market capitalisation is AU$ 3.8 billions as of today (US$ 2.9 billions, € 2.4 billions).

Its stock quote reached its lowest recent point on July 12, 2013 at AU$ 0.09, and its highest recent level on July 31, 2020 at AU$ 6.75.

Saracen Minerals Holdings has 807 550 016 shares outstanding.

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Corporate Presentations of Saracen Mineral Holdings Ltd
1/30/2008Upgrade in Resources to 2.6m Ounces
Project news of Saracen Mineral Holdings Ltd
8/20/2015150820 ASX - KOTH and Kailis acquisition
11/4/2009(Carosue Dam)Major Gold Ore Reserves increase at Carosue Dam
5/25/2009(South Laverton)South Laverton Gold Project – 60% Ore Reserve Increase
1/29/2008(Whirling Dervish)Whirling Dervish - Substantial Resource Increase
Corporate news of Saracen Mineral Holdings Ltd
8/18/2016Corporate Update -
7/29/2016RBC - SAR Outperform PT$1.80
7/27/2016FY17 Exploration and production outlook
7/7/2016June Qtr Pre-release 160707
6/15/2016UK Asia Corporate Presentation 160614
5/24/2016Resources Rising Stars Corporate Presentation 160524
5/19/2016RBC - Saracen Upside PT $1.50
5/17/2016RBC - Saracen Outperform -160512
5/11/2016Deep South ramp-up
5/10/2016Commercial production declared at Thunderbox -160510ASX
5/4/2016SAR Corporate Presentation - 160504
5/3/2016SAR Added to ASX200
4/27/2016March 2016 Quarterly Report-160427 ASX
4/21/2016Purchase of Thunderbox royalty - 160421 ASX
4/14/2016Saracen Ready to Flex its Muscles - RBC
4/13/2016Karari Resource and Reserve Growth - 160413 ASX
4/6/2016160406 ASX - March Qtr Pre-release
2/1/2016Thunderbox commissioning underway - 160201 ASX
1/29/2016Dec 2015 Quarterly
1/21/2016High Grade Gold Intersections at Pinnacles JV Gold Project -...
1/15/2016160115 Hartleys upgrade target price to 88c
1/11/2016160111 ASX - December Qtr Pre-release
12/22/2015151222 ASX - TBO update
11/25/2015151125 ASX - TBO update
10/15/2015Low Cost Growth Presentation - MBL
10/15/2015151015 ASX - CDO Robust 5 Year Outlook
10/7/2015Sept 2015 Qtly production summary
9/30/2015Full Year Statutory Accounts
9/16/2015Thunderbox progress & guidance
8/27/20152015 Financial Year Results
8/5/2015SAR Presentation Diggers 2015
8/3/2015150731 ASX Thunderbox Site Visit Presentation
7/22/2015June 2015 Quarterly Final
7/8/2015Kalpini Project - High grade intersections
7/7/2015June 2015 Quarterly
7/3/2015150702 ASX - Karari Drilling Update
6/10/2015150609 ASX - Blue Manna Exploration Update
4/9/2015March 2015 Quarterly Report
3/23/2015150323 ASX - MBL Debt Hedging Thunderbox Decision
11/17/2014Notice of General Meeting/Proxy Form
11/5/2014Capital return and special dividend
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