Terrain Minerals Limited announced that recent field mapping has identified up to 20 pegmatites at the now 100% owned Smokebush gold exploration project. Pegmatites are the preferred host lithology of lithium mineralisation across Western Australia. Terrains geological team are taking rock chip samples from these pegmatites which will be tested for lithium mineralisation.

Assay results from this sampling program are anticipated to be received by Terrain in February 2023. Terrain is encouraged that the Smokebush pegmatites are located within the so-called goldilocks zone being the distance between two and six kilometres from a granite intrusive (in this case, the Mt Mulgine granite intrusive immediately west of the Smokebush tenements), which is interpreted as being the most prospective zone within a pegmatite for lithium mineralisation. Location & Access: The Smokebush Project area is located approximately approx.

350km from Perth Western Australia and 85 kilometres east northeast of the Perenjori township and 65 kilometres west of Paynes Find within the Yalgoo Mineral Field. The tenements can be accessed via the unsealed Perenjori - Warriedar Road, and thence via extensive historical exploration grid lines, station tracks and fences lines. The now 100% owned project consist of Prospecting Licenses (P59/2125, 2126, 2127, 2128 & 2774) and Exploration Licence E59/2234, 2435, 2482 & 2700.

The geology of the area consists predominantly of a complexly folded, regionally metamorphosed Archaean greenstone sequence at the southern end of the Yalgoo Singleton Greenstone Belt that has been subjected to multi-phase granitoid intrusion. Located adjacent to a large tungsten resource at Mt Mulgine (Tungsten Mining NL) and a number of recently developed gold open pit mines (Minjar Gold Pty Ltd).