Nexus Minerals Advances Crusader-Templar Mining with Macro Gold JV

Strategic Partnership to Unlock Crusader-Templar

Nexus Minerals Ltd (ASX:NXM) has taken a decisive step towards commercialising its Crusader-Templar gold deposit with a new Memorandum of Understanding (MOU) signed with Macro Gold Mining Services (MGMS). MGMS is a joint venture between Macro Metals Limited (ASX:M4M) and Goldfields Technical Services (GTS), combining mining operational expertise and technical know-how tailored for small to medium open pit gold projects.

Under the MOU, MGMS will fully fund and operate the mine development and mining operations at Crusader-Templar, with profits to be shared 60% to Nexus and 40% to MGMS after cost recovery. This arrangement positions Nexus to advance the project without upfront capital outlay on mining infrastructure, a significant advantage given the capital-intensive nature of gold mining.

Permitting Milestones and Operational Readiness

Securing the native vegetation clearing permit in March 2026 cleared a major regulatory hurdle, enabling the formalisation of the MOU. This approval complements earlier permits including mining leases, water abstraction licenses, and mining development plans, collectively setting the stage for mining operations to proceed.

While the MOU remains non-binding except for exclusivity and confidentiality clauses, it marks a critical formalisation of a relationship that had been developing informally. The parties anticipate converting the MOU into a binding profit share agreement once a definitive ore processing solution is finalised, with discussions ongoing with third-party processing plants to secure an ore sale and purchase agreement (OPA).

Resource Base and Exploration Upside

The Crusader-Templar deposit underpins the Wallbrook Gold Project with a combined mineral resource estimate of 304,000 ounces at an average grade of 1.7 g/t gold. Recent drilling programs, including a ~22,000 metre RC campaign, are testing lateral extensions and regional prospects such as Clement, Payns, and Branches, which have shown promising mineralisation in prior aircore and RC drilling phases.

These exploration efforts build on a series of encouraging high-grade intersections and resource optimisations reported earlier, reinforcing the potential to expand the resource base and improve project economics. The project’s proximity to Northern Star’s Carosue Dam operations adds strategic value, situating Wallbrook within a prolific gold mining district.

Market Conditions and Next Steps

The current gold price exceeding A$6,000 per ounce enhances the project's economic potential, underpinning the urgency to progress mining operations. MGMS’s operational experience, including recent projects for Kumarina Resources and Lunnon Metals, complements Nexus’s exploration expertise, suggesting a well-rounded team to advance Crusader-Templar.

Finalising the ore processing arrangement remains the pivotal next step before executing a binding mining agreement. This milestone will unlock detailed mine development planning, inventory finalisation, and project financing clarity.

The MOU’s six-month term sets a timeline for these developments, with termination or extension subject to mutual agreement. Investors will be watching how quickly Nexus and MGMS can convert this collaboration into tangible mining activity, potentially transforming Wallbrook from exploration to production.

This announcement builds on Nexus’s recent high-grade drilling success and the identification of five new gold prospects that continue to fuel the project’s growth trajectory.