Terrain Minerals Limited (ASX: TMX) (Terrain) is excited to provide the following update at its 100% owned Smokebush Project, located 350 kilometres north of Perth, Western Australia.

Induced Polarisation (IP) New Drill Targets Identified - Survey 70% Complete

Terrain is pleased to announce that two thirds of the IP program has now been completed by the Newexco Exploration team over the Hurley & Paradise City prospects. The initial data is ground-based gradient array IP shown in plan view or single dimension. Two drill worth gold anomalies have been identified, both hidden under cover. The first being 400 metres long located near Hurley with the second 600 metres long located near Paradise City and both previously unknown (refer to Diagram 1 & 2). The Monza IP survey will commence next week along with additional work over the two identified targets. The current data helps guide the next stage of the survey being dipole-dipole IP to enable a 3D modelling for targeting purposes for which drilling permits (POW) are already granted over.

Soil Sampling Program Completed over Larin's Lane - Gold Exploration

XM Logistic has completed the close spaced Mobile Metal Ion (MMI) soil sampling program over the Larin's Lane target area with 834 sample submitted to the Company's assay lab for multi-element analysis (foot note 1). The results from this sampling program are expected within the next four weeks (refer to diagram 4).

Smokebush - Pegmatite Samples & Further Field Activities

Terrain has recently identified 20+ pegmatites which have been sampled for Lithium (foot note 1). Samples results are currently overdue due to excessive demand for lithium testing and are expected in the next 2-3 weeks. In the meantime, Terrain has engaged the services of a senior geologist with extensive field experience with lithium bearing pegmatites from RSC - Mining & Minerals Exploration who will be on site next week to better assess the known pegmatite occurrences. The RSC team will be following up petrology sample data received by the Company that highlighted the possible existence of lithium-rich lepidolite mineralisation (refer to Appendix 1).

Location & Access

The Smokebush Project area is located approximately 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 (refer to diagram 1). 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)

Contact:

Tel: +61 8 9381 5558

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