Overview of Poseidon Nickel Limited's recent update

Poseidon Nickel Limited (ASX: $POS) has received a termination notice from Mineral Resources Limited (ASX: $MIN) regarding the proposed sale of the Lake Johnston Project. The notice of termination was received on 8 May 2024, following the Binding Heads of Agreement entered into by both parties on 15 March 2024.

Executive commentary on the termination notice

The Company is currently considering the notice of termination and will provide further updates as necessary. This announcement was authorised for lodgement by the Board of Poseidon Nickel Limited. For further information, contact Brendan Shalders at +61 (0)8 6167 6600.

Summary of Poseidon Nickel Limited's announcement

Poseidon Nickel Limited has received a termination notice from Mineral Resources Limited regarding the proposed sale of the Lake Johnston Project. The Company's strategy is focused on the exploration and eventual restart of its established nickel operation in Western Australia with the aim of being a profitable and sustainable nickel producer. Despite the termination notice, Poseidon Nickel Limited remains committed to its strategic goals and will provide further updates as necessary.