Segue Resources Limited (Segue or the Company) is pleased to...

Segue Resources Limited (Segue or the Company) is pleased to provide an update on planned exploration activities at the Plumridge Nickel Project (Project) in the Fraser Range Province of Western Australia. The Project comprises ~2,500km2 of exploration licences, 200km north of the Nova Ni‐Cu Project. Segue owns a 100% interest in the Project, with MMG Exploration Pty Ltd (MMG), a wholly‐owned subsidiary of international base metals company MMG Limited (HKEx: 1208, ASX: MMG), earning an initial 51% interest in the Project by funding $6.5m of exploration (Stage 1). Following Stage 1, MMG has the right to increase its interest in the Project to 70% through funding an additional $7.5m of exploration (Stage 2). Figure 1: Project location map Figure 2: Tenement map over regional magnetics During 2016, MMG completed a high resolution gravity survey (10,679 stations) over the majority of the Project area. The gravity survey data was combined with other geophysical and geological datasets and over 30 target areas identified. In June 2016, MMG commenced moving loop electromagnetic (MLEM) surveys to test the target areas and identify conductors for drill testing. However, due to mechanical difficulties and weather impacts, only 15 target areas have been tested to the end of 2016. ASX Code: SEG Page 2 2017 Exploration Programme An assessment of results of historical and new EM data by MMG and external specialists has indicated that airborne EM is more viable than initially estimated. As a result, MMG has contracted Geotech Ltd to complete a ~6,000 line kilometre, low frequency, high power, airborne (helicopter) EM survey (Figure 3). The survey will be undertaken in April 2017. Figure 3: Plumridge Project airborne EM survey plan over regional magnetics Page 3 All data will be processed by an external consultant, who is an expert in interpretation of airborne geophysical data and inversion of EM data affected by IP (induced polarisation). 2D sections will be used to identify conductors which can then be modelled and assessed in 3D with potential field inversions and drilling (if available). The review is expected to be completed by the end of May. Top ranked targets will then be followed up with high powered, low frequency, fixed loop ground EM to further constrain geometry and assist in ranking drill targets. Ground EM is expected to take 3‐4 weeks, and will take place approximately one month after the airborne EM survey is completed. MMG plans on completing RC drilling on the highest priority targets in July/August 2017. All holes will be cased for downhole EM (DHEM) surveying to be undertaken in a short campaign during the latter stages of drilling.