Terrain Minerals Ltd (“TMX”) is a West Australian based minerals exploration company focused on the world class mineral provinces in Western Australia and Queensland. Focusing on Nickel, Gallium and REE exploration in WA. Terrain is also prioritising the grant of two key project area, which will be the companies focus going forward, these are expected to be granted later in 2024: Firstly: the East Pilbara WA Carlindie Lithium Project which has circular +850km2 near to Wildcats lithium projects and ~50km north of the Pilbara lithium operations. Secondly: Biloela QLD Copper/Gold ~2,500km2 area along strike to Cracow gold mine, with up to 9 historic copper mines and extensive untested copper and gold targets over the project area.

TMX is currently advancing these projects:

LORT RIVER - NICKEL PROJECT:
(Helicopter Vtem survey just completed & data being process due in ~4 weeks).
100% owned exploration project that covers more than ~500 square kilometres of highly prospective exploration acreage located approximately 50 kilometres northwest of Esperance, Western Australia. Lort River is situated within the highly prospective Albany-Fraser Belt, being home to Nova-Bollinger nickel-copper ore bodies. The host geology of the Nova-Bollinger nickel-copper orebody appears as a very distinctive “eye” in the aeromagnetic data. Terrain has identified a possible repetition of the Nova-style eye feature in its recently granted tenement E63/2447 within its Lort River Project. Consequently, in keeping with its 22 February 2024 ASX release, Terrain remains committed to fast-tracking exploration of this potential repetition of the Nova-Bollinger style magnetic nickel-copper in tenement E63/2447. Refer to ASX release on the 16 April 2024 and 07 May 2024, which details the commencement of the arial Vtem survey.

SMOKEBUSH EXPLORATION PROJECT:
100% owned exploration project located within the prospective Yalgoo Mineral Field of Western Australia which neighbours Warriedar Resources Limited’s (ASX: WA8) Golden Dragon Project. The Company’s previous exploration campaign have targeting gold, and other commodities across the tenement package:

LARIN LANE - GALLIUM CLAYS AND REE PROJECT:
Larin’s Lane project located within the emerging mid-west clay-hosted Gallium and rare earth elements (REE) district of Western Australia, which is quickly earning a reputation as Australia’s premier destination for REE mineralisation. The Company’s maiden drilling program in late 2023 intersected broad zones of high-grade REE mineralisation over ~9 kilometres of interpreted strike. This mineralisation remains open in all directions and has the potential to grow into a significant clay hosted Gallium and REE project. The project area benefits from year-round access and within close proximity to established mining infrastructure.


Pending Applications (Priority Treatments Biloela & Carlindie):
Terrain has several pending tenement (packages) applications across Australia. These applications include:

- Biloela: Copper & Gold Project is located along strike of the Cracow Gold Mine in Queensland (See ASX release dated 21 June 2023 for more information on the rationale, geological setting and walk-up drill targets already identified within this key project area).

- Carlindie: Lithium Project is strategically located between Wildcat Resources (ASX: WC8) and Kali Metals (ASX: KM1) tenements in the East Pilbara of Western Australia. The Company has prioritised the granting of its Carlindie tenement package and is continuing to work
successfully towards achieving its goal. Terrain will provide further updates on the grant process of this highly prospective tenement package over the course of the next 6 months.

- Mukinbudin: Niobium and Rare Earth Elements Project is located within the Mukinbudin region of Western Australia, with the tenement package neighbouring both Rio Tinto’s (ASX: RIO) and IGO Limited (ASX: IGO) landholdings in the region.