Blackstone Minerals Continues to Intersect High-grade Nickel at Ban Chang

• Blackstone has intersected further high-grade Nickel-Cu-PGE at the Ban Chang prospect with the
  following significant results:
• BC20-04 21.5m @ 0.69% Ni, 0.66% Cu, 0.03% Co & 0.81g/t PGE1 from 71m
  13.4m @ 1.01% Ni, 0.96% Cu, 0.05% Co & 1.14g/t PGE from 76m

Incl. 2.1m @ 2.53% Ni, 1.36% Cu, 0.11% Co & 0.76g/t PGE from 77.6m
¹ Platinum (Pt) + Palladium (Pd) + Gold (Au)

• Blackstone’s four maiden drill holes at Ban Chang have all intersected high-grade massive
  sulfide nickel over a 1.2km strike within a 1.2km-long massive sulfide target zone defined by high
  priority electromagnetic (EM) plates (refer to Figure 1);

• Blackstone’s drill holes BC20-01, BC20-02 and BC20-03 all delivered high-grade results including (ASX announcements from 17 June 2020, 02 July 2020, and 22 July 2020) (refer to Figure 1):
• BC20-01 5.2m @ 0.66% Ni, 0.73% Cu, 0.04% Co & 0.79g/t PGE from 58.0m
  1.5m @ 2.20% Ni, 2.12% Cu, 0.13% Co & 2.66g/t PGE from 58.5m
  Incl. 1.05m @ 2.98% Ni, 1.22% Cu, 0.18% Co & 3.43g/t PGE from 58.5m
• BC20-02 4.1m @ 0.92% Ni, 0.69% Cu, 0.05% Co & 0.26g/t PGE from 85.9m
  2.3m @ 1.6% Ni, 1.09% Cu, 0.09% Co & 0.43g/t PGE from 85.9m
  Incl. 1.8m @ 2.01% Ni, 1.27% Cu, 0.12% Co & 0.53g/t PGE from 86.4m
• BC20-03 9.8m @ 1.45% Ni, 0.9% Cu, 0.08% Co & 0.70g/t PGE from 57.05m
  5.7m @ 2.07% Ni, 1.08% Cu, 0.12% Co & 0.95g/t PGE from 60.0m
  Incl. 1.85m @ 3.59% Ni, 1.18% Cu, 0.20% Co & 1.97g/t PGE from 63.35m

• Blackstone is targeting massive sulfide vein (MSV) prospects analogous to the Ban Phuc MSV, where
  previous owners successfully mined 975kt of high-grade ore at average grades of 2.4% Ni & 1.0% Cu from an average vein width of 1.3m for 3.5 years between 2013 and 2016, producing 20.7kt Ni, 10.1kt Cu and 0.67kt Co;

• A recently purchased third drill rig will follow the geophysics crew throughout the Ta Khoa nickel
  sulfide district, testing high priority EM targets generated from 25 MSV prospects including King
  Snake, Ban Khoa, Ban Chang, and Ta Cuong (refer to Figure 3);

• Drilling continues with Blackstone’s largest drill rig testing the King Cobra Discovery zone (KCZ) and
  Blackstone’s two smaller drill rigs at Ban Chang East and Ban Chang West;

• Blackstone’s Scoping Study on downstream processing to produce nickel sulfate for the lithiumion battery industry and Ban Phuc maiden resource are on track for completion in Q3, CY20.

Blackstone Minerals’ Managing Director Scott Williamson commented:

“Hole 4 has delivered our broadest Ban Chang intersection to date and confirms we have a bulk tonnage opportunity that has potential to deliver significant high-grade nickel to our future mine plan which will be underpinned by a base load feed coming from our flagship Ban Phuc orebody which includes the KCZ.

Ban Chang is the first of our 25 MSV targets to be tested throughout the Ta Khoa Ni-Cu-PGE district, leaving plenty of upside for adding high-grade feed to what looks like a bulk open pit mining scenario at Ban Phuc and KCZ.”

Blackstone Minerals Limited (ASX:BSX) is pleased to announce it has intersected high-grade massive sulfide Nickel-Cu-PGE in four maiden drill holes at Ban Chang, part of its Ta Khoa Nickel-Cu-PGE project in Vietnam (refer to Figure 4), after receiving results for the latest hole, BC20-04. The four maiden drill holes were drilled more than 1.2km apart and along strike within a 1.2km-long massive sulfide target zone defined by high priority EM plates. The Company has quickly moved to an aggressive drill out phase to delineate a maiden resource at Ban Chang to supplement the ongoing studies focused on producing nickel sulfate for the lithium-ion battery industry.

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