# NIM: Annual Report to Shareholders Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03143601 Publisher: asx Original announcement: 2026-09-24T08:12:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-24T09:07:43.858Z Atlas analysis updated: 2026-09-24T09:07:43.858Z - Company: Nimy Resources Limited - Ticker: NIM - Exchange: ASX - Region: Western Australia - Primary commodity: Gallium - Secondary commodities: Rare earth oxides, Neodymium praseodymium, Copper, Zinc, Gold, Nickel, Cobalt, Pge, Silver, Lead, Molybdenum, Bismuth, Arsenic, Antimony, Tellurium, Tungsten, Sulfur - Document categories: Resource update, Metallurgy, Capital raise, Drill results - Extracted: 2026-09-24 09:07:44 UTC Narrative sentiment: 0.70 · Bullish ## Minestarters Atlas summary Nimy Resources Limited reported a transformative year, highlighted by a maiden JORC Inferred Mineral Resource for high-grade gallium and rare earth oxides at its Block 3 project in Western Australia. The company also announced positive metallurgical test work results for gallium and REE, alongside successful capital raises totaling over $6.6 million. Exploration efforts advanced other targets, including a new district-scale gold system and promising copper-nickel-PGE and VHMS prospects, despite facing a legal dispute and ongoing going concern considerations. Reasoning: Nimy Resources reported a highly positive year with a maiden high-grade gallium resource, strong metallurgical results, and successful capital raises. New gold and base metal discoveries add significant exploration upside. However, the company faces a material legal dispute and ongoing financial challenges, and the drill results for Sneaky Squirrel are low grade. - Positive factor: Maiden JORC Inferred Mineral Resource for high-grade gallium and rare earth oxides at Block 3. - Positive factor: Positive metallurgical test work results for gallium \(84% recovery\) and rare earth elements \(80-95% recovery\), matching or improving on prior results. - Positive factor: Successful capital raises through placement and Share Purchase Plan, providing significant funding. - Positive factor: Discovery of a new district-scale gold system \(Corporate James\) from extensive soil geochemistry. - Positive factor: Advancement of copper-nickel-PGE \(Masson\) and VHMS \(Sneaky Squirrel\) targets with geophysical surveys and drilling. - Positive factor: JORC 2012 compliant reporting for resource estimate and metallurgical results, with named Competent Persons. - Negative factor: Company is involved in a legal dispute with Lind Global Fund II, LP, claiming over $3.7 million plus interest and costs. - Negative factor: The company reported a net loss and net current liability, indicating ongoing going concern considerations. - Negative factor: The gallium resource is currently in the Inferred category, which is the lowest confidence level for resource estimates. - Negative factor: Drill results from Sneaky Squirrel show generally low-grade copper and zinc intercepts, significantly below the company's average copper grades from other projects. - Negative factor: Metallurgical process technology is described as proprietary, which may imply unproven or experimental aspects. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 61 ## Classification and evidence **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a flotation route \("concentrate"\) **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) ## Extracted facts Stored fact records: 61. Some facts used in scoring do not have a stored record. ## Drill Results (25) ### NRRC161 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-36) Sneaky Squirrel · zinc #### Identity - Hole ID: NRRC161 - Project: Sneaky Squirrel - Commodity: zinc - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 0.62 - Grade Unit: % - Intercept: 8 m - From: 183 m - To: 191 m - Intercept Depth: 183 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC161:183-191 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows low-grade zinc in an exploration hole, which is below economic thresholds for a VMS deposit, but contributes to understanding the system. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel. - Negative factor: Low zinc grade \(0.62%\) for a VMS system, below the weak threshold of 2%. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 0.62% Zn Context: 8m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Low Grade Intercept** — Rejected; excluded from scoring Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Reason: The zinc grade of 0.62% is below the weak threshold of 2% for VMS zinc deposits. Evidence · table > 0.62% Zn Context: 8m **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 8m Context: NRRC161 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC161 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-37) Sneaky Squirrel · copper #### Identity - Hole ID: NRRC161 - Project: Sneaky Squirrel - Commodity: copper - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 557 - Grade Unit: ppm - Intercept: 8 m - From: 183 m - To: 191 m - Intercept Depth: 183 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC161:183-191 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows very low-grade copper in an exploration hole, which is well below economic thresholds for a VMS deposit, but provides geological information. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel. - Negative factor: Very low copper grade \(557ppm or 0.0557%\) for a VMS system, well below the weak threshold of 0.4%. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 557ppm Cu Context: 8m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Low Grade Intercept** — Rejected; excluded from scoring Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Reason: The copper grade of 557ppm \(0.0557%\) is well below the weak threshold of 0.4% for VMS copper deposits. Evidence · table > 557ppm Cu Context: 8m **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 8m Context: NRRC161 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC161 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-38) Sneaky Squirrel · sulfur #### Identity - Hole ID: NRRC161 - Project: Sneaky Squirrel - Commodity: sulfur - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 1.75 - Grade Unit: % - Intercept: 8 m - From: 183 m - To: 191 m - Intercept Depth: 183 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC161:183-191 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows sulfur content, which is indicative of sulphide mineralization in a VMS system, providing geological information for further exploration. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel, providing geological context. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 1.75% S Context: 8m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 8m Context: NRRC161 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC162 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-39) Sneaky Squirrel · zinc #### Identity - Hole ID: NRRC162 - Project: Sneaky Squirrel - Commodity: zinc - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 0.21 - Grade Unit: % - Intercept: 8 m - From: 68 m - To: 76 m - Intercept Depth: 68 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC162:68-76 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows very low-grade zinc in an exploration hole, which is well below economic thresholds for a VMS deposit. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel. - Negative factor: Very low zinc grade \(0.21%\) for a VMS system, well below the weak threshold of 2%. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 0.21% Zn Context: 8m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Low Grade Intercept** — Rejected; excluded from scoring Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Reason: The zinc grade of 0.21% is well below the weak threshold of 2% for VMS zinc deposits. Evidence · table > 0.21% Zn Context: 8m **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 8m Context: NRRC162 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC162 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-40) Sneaky Squirrel · copper #### Identity - Hole ID: NRRC162 - Project: Sneaky Squirrel - Commodity: copper - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 69 - Grade Unit: ppm - Intercept: 8 m - From: 68 m - To: 76 m - Intercept Depth: 68 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC162:68-76 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows extremely low-grade copper in an exploration hole, which is not economically significant for a VMS deposit. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel. - Negative factor: Extremely low copper grade \(69ppm or 0.0069%\) for a VMS system, significantly below economic thresholds. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 69ppm Cu Context: 8m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Low Grade Intercept** — Rejected; excluded from scoring Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Reason: The copper grade of 69ppm \(0.0069%\) is extremely low and well below the weak threshold of 0.4% for VMS copper deposits. Evidence · table > 69ppm Cu Context: 8m **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 8m Context: NRRC162 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC162 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-41) Sneaky Squirrel · sulfur #### Identity - Hole ID: NRRC162 - Project: Sneaky Squirrel - Commodity: sulfur - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 0.26 - Grade Unit: % - Intercept: 8 m - From: 68 m - To: 76 m - Intercept Depth: 68 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC162:68-76 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows sulfur content, which is indicative of sulphide mineralization in a VMS system, providing geological information for further exploration. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel, providing geological context. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 0.26% S Context: 8m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 8m Context: NRRC162 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC162 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-42) Sneaky Squirrel · zinc #### Identity - Hole ID: NRRC162 - Project: Sneaky Squirrel - Commodity: zinc - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 0.22 - Grade Unit: % - Intercept: 4 m - From: 128 m - To: 132 m - Intercept Depth: 128 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC162:128-132 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows very low-grade zinc in an exploration hole, which is well below economic thresholds for a VMS deposit. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel. - Negative factor: Very low zinc grade \(0.22%\) for a VMS system, well below the weak threshold of 2%. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 0.22% Zn Context: 4m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Low Grade Intercept** — Rejected; excluded from scoring Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Reason: The zinc grade of 0.22% is well below the weak threshold of 2% for VMS zinc deposits. Evidence · table > 0.22% Zn Context: 4m **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 4m Context: NRRC162 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC162 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-43) Sneaky Squirrel · copper #### Identity - Hole ID: NRRC162 - Project: Sneaky Squirrel - Commodity: copper - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 336 - Grade Unit: ppm - Intercept: 4 m - From: 128 m - To: 132 m - Intercept Depth: 128 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC162:128-132 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows very low-grade copper in an exploration hole, which is well below economic thresholds for a VMS deposit. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel. - Negative factor: Very low copper grade \(336ppm or 0.0336%\) for a VMS system, well below the weak threshold of 0.4%. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 336ppm Cu Context: 4m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Low Grade Intercept** — Rejected; excluded from scoring Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Reason: The copper grade of 336ppm \(0.0336%\) is well below the weak threshold of 0.4% for VMS copper deposits. Evidence · table > 336ppm Cu Context: 4m **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 4m Context: NRRC162 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC162 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-44) Sneaky Squirrel · sulfur #### Identity - Hole ID: NRRC162 - Project: Sneaky Squirrel - Commodity: sulfur - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 0.98 - Grade Unit: % - Intercept: 4 m - From: 128 m - To: 132 m - Intercept Depth: 128 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC162:128-132 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows sulfur content, which is indicative of sulphide mineralization in a VMS system, providing geological information for further exploration. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel, providing geological context. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 0.98% S Context: 4m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 4m Context: NRRC162 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC163 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-45) Sneaky Squirrel · zinc #### Identity - Hole ID: NRRC163 - Project: Sneaky Squirrel - Commodity: zinc - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 0.11 - Grade Unit: % - Intercept: 4 m - From: 92 m - To: 96 m - Intercept Depth: 92 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC163:92-96 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows very low-grade zinc in an exploration hole, which is well below economic thresholds for a VMS deposit. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel. - Negative factor: Very low zinc grade \(0.11%\) for a VMS system, well below the weak threshold of 2%. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 0.11% Zn Context: 4m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Low Grade Intercept** — Rejected; excluded from scoring Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Reason: The zinc grade of 0.11% is well below the weak threshold of 2% for VMS zinc deposits. Evidence · table > 0.11% Zn Context: 4m **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 4m Context: NRRC163 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC163 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-46) Sneaky Squirrel · copper #### Identity - Hole ID: NRRC163 - Project: Sneaky Squirrel - Commodity: copper - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 135 - Grade Unit: ppm - Intercept: 4 m - From: 92 m - To: 96 m - Intercept Depth: 92 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC163:92-96 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows very low-grade copper in an exploration hole, which is well below economic thresholds for a VMS deposit. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel. - Negative factor: Very low copper grade \(135ppm or 0.0135%\) for a VMS system, well below the weak threshold of 0.4%. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 135ppm Cu Context: 4m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Low Grade Intercept** — Rejected; excluded from scoring Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Reason: The copper grade of 135ppm \(0.0135%\) is well below the weak threshold of 0.4% for VMS copper deposits. Evidence · table > 135ppm Cu Context: 4m **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 4m Context: NRRC163 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC163 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-47) Sneaky Squirrel · sulfur #### Identity - Hole ID: NRRC163 - Project: Sneaky Squirrel - Commodity: sulfur - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 0.42 - Grade Unit: % - Intercept: 4 m - From: 92 m - To: 96 m - Intercept Depth: 92 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC163:92-96 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows sulfur content, which is indicative of sulphide mineralization in a VMS system, providing geological information for further exploration. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel, providing geological context. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 0.42% S Context: 4m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 4m Context: NRRC163 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC163 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-48) Sneaky Squirrel · zinc #### Identity - Hole ID: NRRC163 - Project: Sneaky Squirrel - Commodity: zinc - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 0.19 - Grade Unit: % - Intercept: 4 m - From: 108 m - To: 112 m - Intercept Depth: 108 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC163:108-112 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows very low-grade zinc in an exploration hole, which is well below economic thresholds for a VMS deposit. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel. - Negative factor: Very low zinc grade \(0.19%\) for a VMS system, well below the weak threshold of 2%. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 0.19% Zn Context: 4m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Low Grade Intercept** — Rejected; excluded from scoring Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Reason: The zinc grade of 0.19% is well below the weak threshold of 2% for VMS zinc deposits. Evidence · table > 0.19% Zn Context: 4m **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 4m Context: NRRC163 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC163 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-49) Sneaky Squirrel · copper #### Identity - Hole ID: NRRC163 - Project: Sneaky Squirrel - Commodity: copper - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 153 - Grade Unit: ppm - Intercept: 4 m - From: 108 m - To: 112 m - Intercept Depth: 108 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC163:108-112 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows very low-grade copper in an exploration hole, which is well below economic thresholds for a VMS deposit. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel. - Negative factor: Very low copper grade \(153ppm or 0.0153%\) for a VMS system, well below the weak threshold of 0.4%. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 153ppm Cu Context: 4m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Low Grade Intercept** — Rejected; excluded from scoring Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Reason: The copper grade of 153ppm \(0.0153%\) is well below the weak threshold of 0.4% for VMS copper deposits. Evidence · table > 153ppm Cu Context: 4m **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 4m Context: NRRC163 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC163 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-50) Sneaky Squirrel · sulfur #### Identity - Hole ID: NRRC163 - Project: Sneaky Squirrel - Commodity: sulfur - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 0.68 - Grade Unit: % - Intercept: 4 m - From: 108 m - To: 112 m - Intercept Depth: 108 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC163:108-112 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows sulfur content, which is indicative of sulphide mineralization in a VMS system, providing geological information for further exploration. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel, providing geological context. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 0.68% S Context: 4m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 4m Context: NRRC163 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC163 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-51) Sneaky Squirrel · zinc #### Identity - Hole ID: NRRC163 - Project: Sneaky Squirrel - Commodity: zinc - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 0.1 - Grade Unit: % - Intercept: 4 m - From: 132 m - To: 136 m - Intercept Depth: 132 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC163:132-136 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows very low-grade zinc in an exploration hole, which is well below economic thresholds for a VMS deposit. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel. - Negative factor: Very low zinc grade \(0.10%\) for a VMS system, well below the weak threshold of 2%. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 0.10% Zn Context: 4m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Low Grade Intercept** — Rejected; excluded from scoring Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Reason: The zinc grade of 0.10% is well below the weak threshold of 2% for VMS zinc deposits. Evidence · table > 0.10% Zn Context: 4m **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 4m Context: NRRC163 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC163 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-52) Sneaky Squirrel · copper #### Identity - Hole ID: NRRC163 - Project: Sneaky Squirrel - Commodity: copper - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 80 - Grade Unit: ppm - Intercept: 4 m - From: 132 m - To: 136 m - Intercept Depth: 132 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC163:132-136 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows extremely low-grade copper in an exploration hole, which is not economically significant for a VMS deposit. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel. - Negative factor: Extremely low copper grade \(80ppm or 0.008%\) for a VMS system, significantly below economic thresholds. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 80ppm Cu Context: 4m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Low Grade Intercept** — Rejected; excluded from scoring Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Reason: The copper grade of 80ppm \(0.008%\) is extremely low and well below the weak threshold of 0.4% for VMS copper deposits. Evidence · table > 80ppm Cu Context: 4m **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 4m Context: NRRC163 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC163 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-53) Sneaky Squirrel · sulfur #### Identity - Hole ID: NRRC163 - Project: Sneaky Squirrel - Commodity: sulfur - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 0.4 - Grade Unit: % - Intercept: 4 m - From: 132 m - To: 136 m - Intercept Depth: 132 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC163:132-136 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows sulfur content, which is indicative of sulphide mineralization in a VMS system, providing geological information for further exploration. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel, providing geological context. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 0.40% S Context: 4m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 4m Context: NRRC163 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC164 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-54) Sneaky Squirrel · zinc #### Identity - Hole ID: NRRC164 - Project: Sneaky Squirrel - Commodity: zinc - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 0.18 - Grade Unit: % - Intercept: 4 m - From: 36 m - To: 40 m - Intercept Depth: 36 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC164:36-40 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows very low-grade zinc in an exploration hole, which is well below economic thresholds for a VMS deposit. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel. - Negative factor: Very low zinc grade \(0.18%\) for a VMS system, well below the weak threshold of 2%. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 0.18% Zn Context: 4m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Low Grade Intercept** — Rejected; excluded from scoring Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Reason: The zinc grade of 0.18% is well below the weak threshold of 2% for VMS zinc deposits. Evidence · table > 0.18% Zn Context: 4m **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 4m Context: NRRC164 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC164 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-55) Sneaky Squirrel · copper #### Identity - Hole ID: NRRC164 - Project: Sneaky Squirrel - Commodity: copper - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 464 - Grade Unit: ppm - Intercept: 4 m - From: 36 m - To: 40 m - Intercept Depth: 36 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC164:36-40 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows very low-grade copper in an exploration hole, which is well below economic thresholds for a VMS deposit. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel. - Negative factor: Very low copper grade \(464ppm or 0.0464%\) for a VMS system, well below the weak threshold of 0.4%. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 464ppm Cu Context: 4m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Low Grade Intercept** — Rejected; excluded from scoring Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Reason: The copper grade of 464ppm \(0.0464%\) is well below the weak threshold of 0.4% for VMS copper deposits. Evidence · table > 464ppm Cu Context: 4m **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 4m Context: NRRC164 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC164 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-56) Sneaky Squirrel · zinc #### Identity - Hole ID: NRRC164 - Project: Sneaky Squirrel - Commodity: zinc - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 0.15 - Grade Unit: % - Intercept: 12 m - From: 64 m - To: 76 m - Intercept Depth: 64 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC164:64-76 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows very low-grade zinc in an exploration hole, which is well below economic thresholds for a VMS deposit. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel. - Negative factor: Very low zinc grade \(0.15%\) for a VMS system, well below the weak threshold of 2%. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 0.15% Zn Context: 12m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Low Grade Intercept** — Rejected; excluded from scoring Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Reason: The zinc grade of 0.15% is well below the weak threshold of 2% for VMS zinc deposits. Evidence · table > 0.15% Zn Context: 12m **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 12m Context: NRRC164 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC164 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-57) Sneaky Squirrel · copper #### Identity - Hole ID: NRRC164 - Project: Sneaky Squirrel - Commodity: copper - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 383 - Grade Unit: ppm - Intercept: 12 m - From: 64 m - To: 76 m - Intercept Depth: 64 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC164:64-76 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows very low-grade copper in an exploration hole, which is well below economic thresholds for a VMS deposit. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel. - Negative factor: Very low copper grade \(383ppm or 0.0383%\) for a VMS system, well below the weak threshold of 0.4%. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 383ppm Cu Context: 12m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Low Grade Intercept** — Rejected; excluded from scoring Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Reason: The copper grade of 383ppm \(0.0383%\) is well below the weak threshold of 0.4% for VMS copper deposits. Evidence · table > 383ppm Cu Context: 12m **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 12m Context: NRRC164 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC164 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-58) Sneaky Squirrel · sulfur #### Identity - Hole ID: NRRC164 - Project: Sneaky Squirrel - Commodity: sulfur - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 0.62 - Grade Unit: % - Intercept: 12 m - From: 64 m - To: 76 m - Intercept Depth: 64 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC164:64-76 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows sulfur content, which is indicative of sulphide mineralization in a VMS system, providing geological information for further exploration. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel, providing geological context. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 0.62% S Context: 12m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 12m Context: NRRC164 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC164 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-59) Sneaky Squirrel · zinc #### Identity - Hole ID: NRRC164 - Project: Sneaky Squirrel - Commodity: zinc - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 0.31 - Grade Unit: % - Intercept: 4 m - From: 68 m - To: 72 m - Intercept Depth: 68 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC164:68-72 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows a higher-grade sub-interval of zinc, but still below economic thresholds for a VMS deposit, providing more detailed geological information. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel, representing a higher-grade sub-interval. - Negative factor: Low zinc grade \(0.31%\) for a VMS system, below the weak threshold of 2%. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 0.31% Zn Context: 4m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Low Grade Intercept** — Rejected; excluded from scoring Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Reason: The zinc grade of 0.31% is below the weak threshold of 2% for VMS zinc deposits. Evidence · table > 0.31% Zn Context: 4m **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 4m Context: NRRC164 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ### NRRC164 [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-drill-facts-60) Sneaky Squirrel · copper #### Identity - Hole ID: NRRC164 - Project: Sneaky Squirrel - Commodity: copper - Region: australia\_wa - Reported Region: australia\_wa - Ticker: NIM #### Geometry - Grade: 497 - Grade Unit: ppm - Intercept: 4 m - From: 68 m - To: 72 m - Intercept Depth: 68 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NRRC164:68-72 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept shows a higher-grade sub-interval of copper, but still well below economic thresholds for a VMS deposit, providing more detailed geological information. - Positive factor: New drill intercept from an exploration program at Sneaky Squirrel, representing a higher-grade sub-interval. - Negative factor: Very low copper grade \(497ppm or 0.0497%\) for a VMS system, well below the weak threshold of 0.4%. - Negative factor: Only apparent width is disclosed, true width is unknown. Evidence · table > 497ppm Cu Context: 4m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Low Grade Intercept** — Rejected; excluded from scoring Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Reason: The copper grade of 497ppm \(0.0497%\) is well below the weak threshold of 0.4% for VMS copper deposits. Evidence · table > 497ppm Cu Context: 4m **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: The interval is given as downhole width with no true width or drill orientation. Evidence · table > 4m Context: NRRC164 **QP/CP Signed** — Rejected; excluded from scoring Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Reason: Mr Fergus Jockel is a Competent Person for exploration results. Evidence · text > Mr Fergus Jockel, a full-time employee of Fergus Jockel Geological Services Pty Ltd. Mr Jockel is a Member of the Australasian Institute of Mining and Metallurgy \(1987\) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code\). ## Resource Estimates (33) ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-0) Block 3 – Mons Gallium and Rare Earths Resource · gallium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: gallium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:cde2ce327b4e5881013c #### Resource Data - Category: inferred - Tonnes: 65800000 - Grade: 41 - Grade Unit: g/t - Contained Metal: 2730 - Contained Unit: t - Cutoff Grade: 0 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for gallium, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for a critical metal, indicating significant potential. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 41 Context: 65.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-1) Block 3 – Mons Gallium and Rare Earths Resource · rare earth oxides #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: rare earth oxides - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:cde2ce327b4e5881013c #### Resource Data - Category: inferred - Tonnes: 65800000 - Grade: 502 - Grade Unit: ppm - Contained Metal: 33040 - Contained Unit: t - Cutoff Grade: 0 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for rare earth oxides, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 502 Context: 65.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-2) Block 3 – Mons Gallium and Rare Earths Resource · neodymium praseodymium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: neodymium praseodymium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:cde2ce327b4e5881013c #### Resource Data - Category: inferred - Tonnes: 65800000 - Grade: 96 - Grade Unit: ppm - Contained Metal: 6290 - Contained Unit: t - Cutoff Grade: 0 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for neodymium praseodymium, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 96 Context: 65.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-3) Block 3 – Mons Gallium and Rare Earths Resource · gallium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: gallium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:cde2ce327b4e5881013c #### Resource Data - Category: inferred - Tonnes: 65800000 - Grade: 41 - Grade Unit: g/t - Contained Metal: 2730 - Contained Unit: t - Cutoff Grade: 10 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for gallium, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for a critical metal, indicating significant tonnage potential. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 41 Context: 65.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-4) Block 3 – Mons Gallium and Rare Earths Resource · rare earth oxides #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: rare earth oxides - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:cde2ce327b4e5881013c #### Resource Data - Category: inferred - Tonnes: 65800000 - Grade: 502 - Grade Unit: ppm - Contained Metal: 33030 - Contained Unit: t - Cutoff Grade: 10 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for rare earth oxides, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 502 Context: 65.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-5) Block 3 – Mons Gallium and Rare Earths Resource · neodymium praseodymium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: neodymium praseodymium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:cde2ce327b4e5881013c #### Resource Data - Category: inferred - Tonnes: 65800000 - Grade: 96 - Grade Unit: ppm - Contained Metal: 6290 - Contained Unit: t - Cutoff Grade: 10 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for neodymium praseodymium, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 96 Context: 65.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-6) Block 3 – Mons Gallium and Rare Earths Resource · gallium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: gallium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:7f3545e8ff4bbd397369 #### Resource Data - Category: inferred - Tonnes: 64300000 - Grade: 42 - Grade Unit: g/t - Contained Metal: 2700 - Contained Unit: t - Cutoff Grade: 20 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for gallium, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for a critical metal, indicating significant tonnage potential. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 42 Context: 64.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-7) Block 3 – Mons Gallium and Rare Earths Resource · rare earth oxides #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: rare earth oxides - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:7f3545e8ff4bbd397369 #### Resource Data - Category: inferred - Tonnes: 64300000 - Grade: 507 - Grade Unit: ppm - Contained Metal: 32600 - Contained Unit: t - Cutoff Grade: 20 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for rare earth oxides, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 507 Context: 64.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-8) Block 3 – Mons Gallium and Rare Earths Resource · neodymium praseodymium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: neodymium praseodymium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:7f3545e8ff4bbd397369 #### Resource Data - Category: inferred - Tonnes: 64300000 - Grade: 96 - Grade Unit: ppm - Contained Metal: 6180 - Contained Unit: t - Cutoff Grade: 20 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for neodymium praseodymium, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 96 Context: 64.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-9) Block 3 – Mons Gallium and Rare Earths Resource · gallium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: gallium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:dfefc58bd80db440fb45 #### Resource Data - Category: inferred - Tonnes: 42600000 - Grade: 50 - Grade Unit: g/t - Contained Metal: 2140 - Contained Unit: t - Cutoff Grade: 30 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for gallium, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for a critical metal, indicating significant tonnage potential. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 50 Context: 42.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-10) Block 3 – Mons Gallium and Rare Earths Resource · rare earth oxides #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: rare earth oxides - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:dfefc58bd80db440fb45 #### Resource Data - Category: inferred - Tonnes: 42600000 - Grade: 571 - Grade Unit: ppm - Contained Metal: 24300 - Contained Unit: t - Cutoff Grade: 30 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for rare earth oxides, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 571 Context: 42.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-11) Block 3 – Mons Gallium and Rare Earths Resource · neodymium praseodymium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: neodymium praseodymium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:dfefc58bd80db440fb45 #### Resource Data - Category: inferred - Tonnes: 42600000 - Grade: 106 - Grade Unit: ppm - Contained Metal: 4510 - Contained Unit: t - Cutoff Grade: 30 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for neodymium praseodymium, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 106 Context: 42.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-12) Block 3 – Mons Gallium and Rare Earths Resource · gallium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: gallium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:3f412ea358df8b94a8f5 #### Resource Data - Category: inferred - Tonnes: 18500000 - Grade: 72 - Grade Unit: g/t - Contained Metal: 1320 - Contained Unit: t - Cutoff Grade: 40 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for gallium, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for a critical metal, indicating significant tonnage potential. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 72 Context: 18.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-13) Block 3 – Mons Gallium and Rare Earths Resource · rare earth oxides #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: rare earth oxides - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:3f412ea358df8b94a8f5 #### Resource Data - Category: inferred - Tonnes: 18500000 - Grade: 598 - Grade Unit: ppm - Contained Metal: 11050 - Contained Unit: t - Cutoff Grade: 40 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for rare earth oxides, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 598 Context: 18.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-14) Block 3 – Mons Gallium and Rare Earths Resource · neodymium praseodymium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: neodymium praseodymium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:3f412ea358df8b94a8f5 #### Resource Data - Category: inferred - Tonnes: 18500000 - Grade: 113 - Grade Unit: ppm - Contained Metal: 2090 - Contained Unit: t - Cutoff Grade: 40 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for neodymium praseodymium, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 113 Context: 18.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-15) Block 3 – Mons Gallium and Rare Earths Resource · gallium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: gallium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:5a770cdc7e8792fafb79 #### Resource Data - Category: inferred - Tonnes: 13400000 - Grade: 82 - Grade Unit: g/t - Contained Metal: 1100 - Contained Unit: t - Cutoff Grade: 50 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for gallium, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for a critical metal, indicating significant tonnage potential. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 82 Context: 13.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-16) Block 3 – Mons Gallium and Rare Earths Resource · rare earth oxides #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: rare earth oxides - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:5a770cdc7e8792fafb79 #### Resource Data - Category: inferred - Tonnes: 13400000 - Grade: 583 - Grade Unit: ppm - Contained Metal: 7790 - Contained Unit: t - Cutoff Grade: 50 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for rare earth oxides, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 583 Context: 13.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-17) Block 3 – Mons Gallium and Rare Earths Resource · neodymium praseodymium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: neodymium praseodymium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:5a770cdc7e8792fafb79 #### Resource Data - Category: inferred - Tonnes: 13400000 - Grade: 111 - Grade Unit: ppm - Contained Metal: 1480 - Contained Unit: t - Cutoff Grade: 50 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for neodymium praseodymium, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 111 Context: 13.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-18) Block 3 – Mons Gallium and Rare Earths Resource · gallium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: gallium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:ab2159aaabdff0354e7f #### Resource Data - Category: inferred - Tonnes: 9500000 - Grade: 93 - Grade Unit: g/t - Contained Metal: 880 - Contained Unit: t - Cutoff Grade: 60 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for gallium, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for a critical metal, indicating significant tonnage potential. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 93 Context: 9.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-19) Block 3 – Mons Gallium and Rare Earths Resource · rare earth oxides #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: rare earth oxides - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:ab2159aaabdff0354e7f #### Resource Data - Category: inferred - Tonnes: 9500000 - Grade: 563 - Grade Unit: ppm - Contained Metal: 5340 - Contained Unit: t - Cutoff Grade: 60 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for rare earth oxides, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 563 Context: 9.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-20) Block 3 – Mons Gallium and Rare Earths Resource · neodymium praseodymium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: neodymium praseodymium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:ab2159aaabdff0354e7f #### Resource Data - Category: inferred - Tonnes: 9500000 - Grade: 108 - Grade Unit: ppm - Contained Metal: 1020 - Contained Unit: t - Cutoff Grade: 60 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for neodymium praseodymium, a critical metal, at a low cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 108 Context: 9.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-21) Block 3 – Mons Gallium and Rare Earths Resource · gallium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: gallium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:b3d879ef4aeea7302fa9 #### Resource Data - Category: inferred - Tonnes: 7200000 - Grade: 102 - Grade Unit: g/t - Contained Metal: 740 - Contained Unit: t - Cutoff Grade: 70 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for high-grade gallium, a critical metal, at a reasonable cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: High-grade gallium resource, positioning the company as a potential key supplier. - Positive factor: Maiden resource estimate for a critical metal, indicating significant potential. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 102 Context: 7.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-22) Block 3 – Mons Gallium and Rare Earths Resource · rare earth oxides #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: rare earth oxides - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:b3d879ef4aeea7302fa9 #### Resource Data - Category: inferred - Tonnes: 7200000 - Grade: 538 - Grade Unit: ppm - Contained Metal: 3890 - Contained Unit: t - Cutoff Grade: 70 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for rare earth oxides, a critical metal, at a reasonable cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 538 Context: 7.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-23) Block 3 – Mons Gallium and Rare Earths Resource · neodymium praseodymium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: neodymium praseodymium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:b3d879ef4aeea7302fa9 #### Resource Data - Category: inferred - Tonnes: 7200000 - Grade: 104 - Grade Unit: ppm - Contained Metal: 750 - Contained Unit: t - Cutoff Grade: 70 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for neodymium praseodymium, a critical metal, at a reasonable cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 104 Context: 7.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-24) Block 3 – Mons Gallium and Rare Earths Resource · gallium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: gallium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:bc21be9f8c3c5692206b #### Resource Data - Category: inferred - Tonnes: 5400000 - Grade: 112 - Grade Unit: g/t - Contained Metal: 600 - Contained Unit: t - Cutoff Grade: 80 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for gallium, a critical metal, at a higher cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for a critical metal, indicating significant tonnage potential. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 112 Context: 5.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-25) Block 3 – Mons Gallium and Rare Earths Resource · rare earth oxides #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: rare earth oxides - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:bc21be9f8c3c5692206b #### Resource Data - Category: inferred - Tonnes: 5400000 - Grade: 508 - Grade Unit: ppm - Contained Metal: 2730 - Contained Unit: t - Cutoff Grade: 80 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for rare earth oxides, a critical metal, at a higher cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 508 Context: 5.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-26) Block 3 – Mons Gallium and Rare Earths Resource · neodymium praseodymium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: neodymium praseodymium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:bc21be9f8c3c5692206b #### Resource Data - Category: inferred - Tonnes: 5400000 - Grade: 101 - Grade Unit: ppm - Contained Metal: 540 - Contained Unit: t - Cutoff Grade: 80 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for neodymium praseodymium, a critical metal, at a higher cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 101 Context: 5.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-27) Block 3 – Mons Gallium and Rare Earths Resource · gallium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: gallium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:d7f3d0bff6fd7c4e2253 #### Resource Data - Category: inferred - Tonnes: 4000000 - Grade: 121 - Grade Unit: g/t - Contained Metal: 480 - Contained Unit: t - Cutoff Grade: 90 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for gallium, a critical metal, at a higher cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for a critical metal, indicating significant tonnage potential. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 121 Context: 4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-28) Block 3 – Mons Gallium and Rare Earths Resource · rare earth oxides #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: rare earth oxides - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:d7f3d0bff6fd7c4e2253 #### Resource Data - Category: inferred - Tonnes: 4000000 - Grade: 492 - Grade Unit: ppm - Contained Metal: 1950 - Contained Unit: t - Cutoff Grade: 90 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for rare earth oxides, a critical metal, at a higher cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 492 Context: 4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-29) Block 3 – Mons Gallium and Rare Earths Resource · neodymium praseodymium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: neodymium praseodymium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:d7f3d0bff6fd7c4e2253 #### Resource Data - Category: inferred - Tonnes: 4000000 - Grade: 99 - Grade Unit: ppm - Contained Metal: 390 - Contained Unit: t - Cutoff Grade: 90 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for neodymium praseodymium, a critical metal, at a higher cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 99 Context: 4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-30) Block 3 – Mons Gallium and Rare Earths Resource · gallium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: gallium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:a62dbd75ecc7fa5e3d39 #### Resource Data - Category: inferred - Tonnes: 2900000 - Grade: 131 - Grade Unit: g/t - Contained Metal: 380 - Contained Unit: t - Cutoff Grade: 100 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for gallium, a critical metal, at a high cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for a critical metal, indicating significant tonnage potential. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 131 Context: 2.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-31) Block 3 – Mons Gallium and Rare Earths Resource · rare earth oxides #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: rare earth oxides - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:a62dbd75ecc7fa5e3d39 #### Resource Data - Category: inferred - Tonnes: 2900000 - Grade: 448 - Grade Unit: ppm - Contained Metal: 1290 - Contained Unit: t - Cutoff Grade: 100 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for rare earth oxides, a critical metal, at a high cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 448 Context: 2.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-resource-facts-32) Block 3 – Mons Gallium and Rare Earths Resource · neodymium praseodymium #### Identity - Project: Block 3 – Mons Gallium and Rare Earths Resource - Commodity: neodymium praseodymium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rodney Brown - Resource group id: resource:a62dbd75ecc7fa5e3d39 #### Resource Data - Category: inferred - Tonnes: 2900000 - Grade: 92 - Grade Unit: ppm - Contained Metal: 270 - Contained Unit: t - Cutoff Grade: 100 - Cutoff Unit: g/t Ga2O3 #### Prior Estimate - Resource Date: 2025-11-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This is a maiden Inferred resource for neodymium praseodymium, a critical metal, at a high cut-off grade, indicating significant tonnage potential, but with low confidence. - Positive factor: Part of a maiden resource estimate for critical rare earth elements, adding significant value. - Positive factor: Cut-off grade is disclosed, allowing for transparent evaluation. - Negative factor: Resource is in the Inferred category, representing the lowest level of geological confidence. Evidence · table > 92 Context: 2.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource is classified as Inferred, which is the lowest confidence category. Evidence · table > Inferred Context: 7.23 ## Metallurgical Results (3) ### metallurgical testwork [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-metallurgical-facts-33) Block 3 · gallium #### Identity - Project: Block 3 - Commodity: gallium - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Test Work - Program Status: detailed - Test Type: metallurgical testwork - Processing Route: proprietary process technology #### Recovery - Recovery: 84 % - Recovery Basis: actual\_test #### Lab - Laboratory: Curtin University and Strategic Metallurgy Pty Ltd - Consultant: Strategic Metallurgy Pty Ltd #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Strong metallurgical results for gallium, with high recovery achieved through a proprietary process, indicating positive progress towards economic viability. - Positive factor: High recovery rate of 84% for gallium, matching prior results. - Positive factor: Test work conducted by reputable laboratories and consultants. - Positive factor: QP/CP signed off on the metallurgical results, ensuring credibility. - Negative factor: Processing route is described as proprietary, which may imply unproven or experimental aspects. Evidence · text > demonstrating extraction of 84% of contained gallium ### metallurgical testwork [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-metallurgical-facts-34) Block 3 · rare earth elements #### Identity - Project: Block 3 - Commodity: rare earth elements - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Test Work - Program Status: detailed - Test Type: metallurgical testwork - Processing Route: proprietary process technology #### Recovery - Recovery: 80 % - Recovery Basis: actual\_test #### Lab - Laboratory: Curtin University and Strategic Metallurgy Pty Ltd - Consultant: Strategic Metallurgy Pty Ltd #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Strong metallurgical results for rare earth elements, with high recovery achieved through a proprietary process, indicating positive progress towards economic viability. - Positive factor: High recovery rate of 80% for rare earth elements. - Positive factor: Test work conducted by reputable laboratories and consultants. - Positive factor: QP/CP signed off on the metallurgical results, ensuring credibility. - Negative factor: Processing route is described as proprietary, which may imply unproven or experimental aspects. Evidence · text > 80-95% of contained rare earth elements ### metallurgical testwork [Link to this fact](https://atlas-staging.minestarters.com/news/nim-annual-report-to-shareholders--ed450f86-0546-4e92-8764-5839f5391bf5#fact-metallurgical-facts-35) Block 3 · rare earth elements #### Identity - Project: Block 3 - Commodity: rare earth elements - Region: australia\_wa - Reported Region: Western Australia - Ticker: NIM #### Test Work - Program Status: detailed - Test Type: metallurgical testwork - Processing Route: proprietary process technology #### Recovery - Recovery: 95 % - Recovery Basis: actual\_test #### Lab - Laboratory: Curtin University and Strategic Metallurgy Pty Ltd - Consultant: Strategic Metallurgy Pty Ltd #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Strong metallurgical results for rare earth elements, with high recovery achieved through a proprietary process, indicating positive progress towards economic viability. - Positive factor: High recovery rate of 95% for rare earth elements. - Positive factor: Test work conducted by reputable laboratories and consultants. - Positive factor: QP/CP signed off on the metallurgical results, ensuring credibility. - Negative factor: Processing route is described as proprietary, which may imply unproven or experimental aspects. Evidence · text > 80-95% of contained rare earth elements ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.