Annual General Meeting 2009 - Nex Metals Explorations Ltd

Ken Allen, Managing Director

Work completed by Nex Metals post the Kookynie Gold Project Purchase - 6 months

The Nex Metals 3 Phase Plan for Growth. Delineation of a strategy for Nex to grow and extract the best possible value out of the Kookynie Gold Project.
Grade Control Drilling Phase 1
Preliminary Metallurgy Phase 2
Diamond Drilling Phase 3
Metallurgical Results Phase 1
Initial Mineral Resource Estimate Phase 1 the Orient Well Laterite.
Nex Metals Purchases additional leases.
Phase 2 Initial Mineral Resource Estimate
Visible Gold intersected in Diamond Drilling beneath the historical Cosmopolitan Goldmine.
Nex Assesses 100,000 ounces per annum gold production target.
Nex appoints Alan Matthysen (formerly St Ives Heap Leach Superintendent) as Project Manager Kookynie Gold Project.
Metallurgical test work Phase 1 - Orient Well Laterite - provides excellent recoveries from Dump Leach trials (64% and final result likely to be higher yet).

Nex 3 Phase Plan for Growth

Phase 1 Swift Low Cost Cash Flow

A starter project located at the Orient Well area. Nex targets 17,000 ounce gold production from a Laterite Dump Leach. Independent resource estimation & favourable metallurgy completed, 1.84Mt resource with significant potential to increase.

Phase 2 Open Cut re-optimisation of previously mined shallow open pits

Nex targets 100,000 ounce p/a gold production at the Butterfly - Admiral & Orient Well areas. Independent resource estimation & favourable preliminary metallurgy completed.

Phase 3 Establishing a high grade underground Goldmine

Nex targets 50,000 ounce per annum gold production from the Cosmopolitan, Champion and Homeward Bound areas. Drilling beneath historical Cosmopolitan Underground Goldmine intersects visible gold.

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