Terrain Minerals Limited (ASX: TMX) ('Terrain' or the 'Company') is pleased to announce the Larins Lane (E59/2482) Mobile Metals Ions (MMI) extension program has been highly successful at the Company's 100% owned Smokebush Project, located approximately 350 kilometres north of Perth, Western Australia.

The MMI extension soils program has extended existing anomalies (potential poly-metallic) as well as identifying a very exciting new target. Preparation for the maiden drill program in now underway targeting a November 2023 start date. Drilling permits have been approved and a drill rig has been secured from Raglan Drilling.

Larins Lane - MMI Extension Program Highlights: 'Extended' Target 3 - additional 500m in length uncovered. The anomaly is now 1,100m by 350m. Nickel, Copper, Silver and Gold in soil geochemical anomaly, with common areas of overlap between the elevated elements. 'New' Target 4 - Measuring 900m by 400m 'remains open' to the southeast. Comprising of elevated values of Nickel, Copper, Gold and to a lesser extent Silver, (potential poly-metallic) and lies on the edge of the monzogranite unit adjacent to what is likely to be a dolerite dyke. Target 1 - Large Gold Anomaly 700m by 250m identified during the first MMI program. Maiden drill program November 2023 - Testing for bedrock hosted primary mineralisation. Geology at Larin's Lane prospect interpreted as potentially part of same greenstone belt that hosts the Golden Grove Copper + Gold + Silver + Zinc + Lead Mine. Rights issue now open and closing Tuesday 24 October 2023 (effective price of $0.0045 each taking into account free attaching shares plus unlisted options).

The newly identified Target areas have the elements Nickel (Ni), Copper (Cu), Gold (Au) and Silver (Ag) showed similar spatial distributions of elevated/anomalous values over the area of interest. Mobile Metals Ions (MMI) (refer to below explanation) readings that were higher in Cu (>1.9ppm) and Au (>0.24ppb) were first identified and contoured. Significant areas of overlap between elevated values in these contoured elements are the most promising areas in terms of prospectivity. The Cu-Au system in these areas also shares similar spatial distributions with other elements - particularly Ag (>4.85ppb) and Ni (>0.39ppm), which is worth following up (refer to diagram 1 to 3). The Larin's Lane prospect has been interpreted as a 4km long by 300-400m wide Archean greenstone unit between two monzogranites. Located in the southeast of the Smokebush Project and potentially being the same Archean greenstone unit, being part of the Yalgoo-Singleton greenstone belt, host of 29Metals (ASX: 29M) Golden Grove Copper + Gold + Silver + Zinc + Lead Mine

Contact:

Tel: +61 8 9381 5558

ABOUT TERRAIN MINERALS LIMITED

Terrain Minerals Limited (ASX: TMX) is a mineral exploration company with a Western Australian based asset portfolio consisting of:

Trade Opportunities: Terrain is always open to commercial discussions of full/partial sales and or JV of assets. Lort River - WA Rare Earth Elements Exploration Project 100% owned. Covering 320km2 of highly prospective exploration acreage for REE within the now tightly held and emerging southern Esperance clay hosted REE province of Western Australia. Terrain has recently executed a roadside air core drilling program. Drill results are pending. The Company's Lort River Project immediately adjoins Meeka Metals Limited's (ASX: MEK) Cascade REE Project and OD6 Metals Limited's (ASX: OD6) Grass Patch REE Project. Smokebush (SB): 100% owned gold, copper gallium and lithium exploration project located within the prospective Yalgoo Mineral Field of Western Australia. The Company's Smokebush Project neighbours Warriedar Resources Limited's (ASX: WA8) (formally Minjar, Golden Dragon Project), The Company's exploration campaigns are targeting both gold, lithium, and new Copper/Ni targets across the tenement package: SB - Gold IP Survey - IP survey program identified multiple drill targets, now drill tested with results pending - expected late October 2023. SB - Lithium - 20+ pegmatites identified, ranging up 20m wide and up to 200m long before appearing to go under cover. The pegmatite swarms run along a 4 km long zone with the most prospective targets around the Monza and Hurly areas. Results expected late October 2023. SB - Larin's Lane - MMI soil sampling results have identified multiple exciting drill targets refer to above ASX market realise, including preparation for the maiden drill program. Wild Viper Project: 100% owned gold exploration project, located 70 kilometres north of Leonora, Western Australia, and incorporates the strategic land holding known as Wilsons Patch. The Company's Wild Viper Project is strategically located and surrounds Red5 Limited's (ASX; RED) Great Western Mine as well as being adjacent to Northern Star Resources Limited's (ASX: NST) Bundarra gold deposits. Project Review: Terrain Minerals Limited continues to investigate potential projects across various commodities including gold, copper, nickel, rare earth elements, and other industrial minerals. Western Australian based projects are the Company's current focus, but other parts of Australia are being seriously examined and considered as are other jurisdictions like Africa, Europe, and the Americas. Several Canadian Lithium opportunities are currently being reviewed. Pending Applications: Terrain has several pending tenement (packages) applications across Western Australian and now Queensland. These applications include: Biloela Copper & Gold Project located along strike of the Cracow Gold Mine in Qld (ASX release 21 June 2023); Carlindie Lithium Project located near Lithium Power International's Tabba Tabba Lithium Project in the Pilbara WA; Mukinbudin (WA) Rare Earths and Lithium Project which neighbours Rio Tinto's landholding in the region. The Company does not incur any holding or ongoing costs in relation to pending applications. It should be noted that there is no guarantee that pending application will be granted.

(C) 2023 Electronic News Publishing, source ENP Newswire