ASX ANNOUNCEMENT 22 December 2014

TRIUMPH GOLD PROJECT UPDATE

 Ground Geology and Structural Mapping Assessment Completed

 Heritage "Work Area" Clearance Survey Completed

 High Resolution Ground Magnetics Interpretation Underway

 Ground Geophysical IP Survey underway

 Drill program planning being finalized for Phase 1 4,000m RC drilling

 POW submitted for phase 1 and 2 drill programs

As previously announced, Nexus Minerals Limited (Nexus) (ASX:NXM) has entered into a farm-in and joint venture agreement over the Triumph Gold Project. The Triumph Project is located in the Eastern Goldfields of Western Australia, some 145km northeast of Kalgoorlie (figure 1).

Figure 1. Triumph Project location, Western Australia

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 www.nexus-minerals.com

Company geologists have completed a number of geological fact mapping and structural interpretation assessment programs across the project area, confirming the strike and extent of the mineralised structure, contained within an extensive high strain zone.
A heritage survey was completed across the tenement package with the Work Areas (the complete tenement area) surveyed with the aim to identify ethnographic and /or archaeological areas of significance. An archaeological reconnaissance survey of the work areas was also conducted. No areas of Aboriginal Heritage significance were located on the Work Areas.
A high resolution ground magnetic survey had been completed in 2012, but no detailed assessment of the results had been undertaken. This is now being undertaken in conjunction with geological fact mapping to produce a detailed interpretation.
A ground geophysical IP survey is currently underway which will be completed before Christmas. The aim of the survey is to complete 6 x 1km lines across the tenements to identify extensive sulphide zones associated with gold mineralization. Four are designed to cross through the middle of significant historical mining centres, while two will be "control" lines crossing in areas with no historical mining activity. The results will be layered on top of the geology/structural interpretation to improve the Company's knowledge of the structural controls on mineralization in the project area.
A 4,000m RC drill program has been developed and a program of works (POW) submitted to the Department of Mines and Petroleum. The program is scheduled to commence mid February 2015 subject to receipt of POW approval. Drill pads have been cleared and Nexus is in final negotiations with drill contractors to undertake the work. This first phase of drilling will test for the depth extensions of the mineralised structures identified to date.
The Triumph Project represents an excellent opportunity for Nexus to farm into an underexplored gold exploration project showing high grades over a significant strike length and open below 30m depth. The Project has the potential to establish significant gold resources at depth from high grade mineralised structure identified from shallow drilling.
Nexus has the right to elect to exit the JV after a minimum spend of $100,000 (excluding deposit).

Ends

Enquiries: Mr Andy Tudor, Chief Executive Office

Mr Paul Boyatzis, Non-Executive Chairman

Contact Phone: 08 9481 1749

Fax: 08 9481 1756

Website: www.nexus-minerals.com

Competent Person's Statement

The information in this report that relates to Exploration Results is based on information compiled by 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 that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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 in the report of the matters based on his information in the form and context in which it appears.

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