Blackstone Intersects 375m of Nickel Sulfide from 2m

Blackstone Minerals Limited ("Blackstone" or the "Company") is pleased to provide results from the final infill drill program at the Ban Phuc DSS deposit at its Ta Khoa Nickel – CopperPGE Project in Northern Vietnam. (refer Figure 1, Table 1, Table 2 & Appendix 1).

Current reporting includes some of the best broad DSS intersections at Ban Phuc:

• The Ban Phuc DSS deposit will underpin the Upstream Business Unit (UBU) PFS due later this calendar year
• Successful completion of the final infill drilling program is aimed at increasing the confidence of the existing JORC resource:
  • Indicated Mineral Resource of 44.3Mt @ 0.52% Ni for 229kt Ni; and
  • Inferred Mineral Resource of 14.3Mt @0.35% Ni for 50Kt Ni (refer ASX announcement 18 October 2020)
• The Company will assess mining scenarios as part of the UBU PFS. Results from the final infill drilling program bode well for the potential to increase mining inventory at Ban Phuc, as compared to the Company's Scoping Study (refer ASX announcement 18 October 2020).

Blackstone Minerals' Managing Director Scott Williamson commented:

"The high tenor of results from the final infill drilling program increases the confidence of the resource at Ban Phuc, and the mine plan that will underpin Blackstone's UBU PFS. In the relatively short amount of time since acquiring the Ta Khoa Nickel – Copper – PGE Project, Blackstone has been able to define a large, disseminated sulfide deposit which considerably adds to the security of supply for the Company's vertically integrated downstream refinery."

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