NQ Minerals PLC (AQSE.NQMI) Hellyer Mine’s Q1 2021 Provisional Results

Hellyer Mine’s First Quarter 2021 Provisional Unaudited Financial Results

A$17.9 million – Gross Revenues

A$9.7 million – Operating Profit

A$4.8 million – Net Income

London listed NQ Minerals Plc (AQSE: NQMI, OTCQB: NQMLF, OTCQB:NQMIY), (“NQ” or the “Company”) the base and precious metals producer from its 100% owned flagship Hellyer Mine (“Hellyer”) and the 100% owner of the Beaconsfield Gold Mine, both in Tasmania, Australia, is pleased to report its First Quarter 2021 provisional and unaudited operating financial results and production results from NQ’s wholly owned subsidiary Hellyer Gold Mines Pty Ltd (“Hellyer”). These results do not factor in associated costs at the Plc level.

Provisional First Quarter 2021 Unaudited Financial Summary:

(Note: Results reported in Australian dollars (“A$”))

Mining and processing operations at Hellyer realised provisional First Quarter 2021 gross revenues of A$17.9m, operating profits from operations of A$9.7m and net income of A$4.8m for the period from 1 January 2021 to 31 March 2021.

A major capital works programme at Hellyer to construct the new circa A$15m Hellyer tailings storage facility (TSF2) was essentially completed by the end of the quarter. Worthy of note is that tailings from the Hellyer plant started flowing into TSF2 in the second week of this month and came in 17% under its original budget, which was an exceptional achievement from the site management teams.

Note: These unaudited results may vary post-audit completion.

NQ Minerals’ Chairman, Mr David Lenigas, said.

“Hellyer achieved another strong financial performance for the first quarter this year. The completion of the new A$15 million Stage 1 TSF tailings dam was a major technical achievement on site and stands the project in good stead for the future.”

About NQ Minerals

NQ Minerals Plc is listed on London’s Aquis Stock Exchange (AQSE) under the ticker NQMI and has its 1:100 ADR traded on the US OTC QB under ticker NQMIY and its ordinary shares are dual traded on the US OTC QB under the ticker NQMLF.

NQ Minerals operations are in Australia. NQ commenced base metal and precious metal production in 2018 at its 100% owned flagship Hellyer Gold Mine in Tasmania. Hellyer has a published JORC compliant Mineral Resource estimated as of the end of August 2020 at 7.57 Mt which is host to Gold at 2.60 g/t Au for 633,600 oz Au, Silver at 94 g/t Ag for 22,873,600 oz Ag, Lead at 3.01% Pb for 228,000 tonnes and Zinc at 2.33% Zn for 176,700 tonnes. In addition to these resources, the Hellyer assets include a large mill facility and full supporting infrastructure. The Company is also planning to re-open the historic high-grade Beaconsfield Gold Mine in Tasmania, which has a JORC (2012) compliant Mineral Resource Estimate of 1.454 Mt at 10.3 g/t Au for 483,000 ounces of gold. Regular updates on the progress of the Hellyer Gold Mine and Beaconsfield can be viewed on NQ’s website at www.nqminerals.com.

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