Terrain Minerals : Positive First Pass Drilling Results Smokebush Gold Project

Terrain Minerals Limited (ASX: TMX) (Terrain) is very pleased to update the market of the results from recent drilling at the Smokebush Gold Project.

A total of 16 RC holes were completed for 2,079 meters with four areas being tested.

First Pass Drilling over Monza (80% TMX) has successfully extended the strike of gold mineralisation by a further 400 meters to define 700 meters of mineralised strike extent within Tenement P59/2128. New Area: Monza North drilling identified a new offset mineralised gold structure that is open along strike and down dip.

The board is pleased to confirm that the program was executed safely and professionally. In addition, logging confirms that the programs design and targeting assumptions look to be correct which confirms Terrain's strategy of identifying targets by using technical based staged exploration techniques. Terrain's geological team has used extensive mapping and ground-based geophysics as part of this process at Smokebush.

Potential Follow-up Works Program

The last phase of exploration drill program has defined exciting new zones of gold mineralisation over a broad spatial area at Monza, Monza North and Paradise City. The next stage of exploration is now being investigated to better understand, test and target the interpreted extensional zones down dip, along trend at both Monza, Monza north, and along trend at Paradise City (Refer to diagrams 2 & 3). A reconnaissance air core program has also been planned for testing regional mineralisation within the broader tenement package and may also be considered over these new areas.

Monza North - New Area Monza north is a newly discovered mineralised zone on a NW-SE trending, shallowly dipping structural zone (shear and vein). Monza North appears to be separate from Monza and is open along strike and down dip. Terrain geological team is now re-examining its model over this area and are excited by its potential, which includes the potential for other off set structures in the Monza north area.

Geological Interpretation at Monza

Mineralisation at Monza occurs in variably altered (silica +/- sericite +/- muscovite +/- biotite +/- chlorite), weakly sheared dolerite proximal to felsic porphyry and pegmatite intrusives. The higher grade (> 0.5 g/t) intercepts occur where alteration is most intense and sulphide (pyrite +/- pyrrhotite +/- arsenopyrite +/- chalcopyrite +/- stibnite) mineralisation is strong (generally + 10%). These zones commonly occur within broader zones with weaker alteration, sulphide mineralisation and lower grades. The anomalous grade zones (>0.1 g/t) indicate potential for larger scale controls within the Monza mineralisation system.

Contact:

Justin Virgin

Tel: [phone]

Email: [e-mail]

ABOUT TERRAIN MINERALS LIMITED

Terrain Minerals Limited (ASX: TMX) is a minerals exploration company with a Western Australian based asset portfolio consisting of: Investments: As of the date of this announcement Terrain held 3.5 million Red5 ltd shares (ASX: RED) from the GW sale. Issued at 19c - value at 19c $665,000.

Smokebush - WA gold exploration Project JV (80% TMX) - Terrain has identified multiple drill targets along with several other prospective areas. Terrain executed its highly successful maiden RC drill program in August 2020, following up on historic drilling. Terrain is excited about the results following completion of the second phase of ground based geophysical survey and detailed mapping program over the new areas around Monza, Paradise City (100% TMX) and Wildflower prospects. The second phase 2,079m RC drilling program was recently completed, refer to above announcement for results.

Wild-viper - WA gold exploration Project 100% owned - which incorporates the strategic land holding known as Wilson Patch (WP). Wild-viper tenement package is strategically located and surrounds Red5 Ltd - Great Western Project (GW) as well as being adjacent to Saracen's (ASX: SAR) Bundarra gold deposits. Terrain's geologist recently visited site (week starting 24th May 2021) following up new theories identified from recent data reviews.

Project Review - Terrain Minerals continues to search potential projects across various commodities including Gold, Copper, Nickel, and industrial minerals in WA. Due to COVID-19 travel restrictions, all regions outside of WA, including foreign jurisdictions, are still being considered based on their individual merits.

Due to the COVID-19 Situation - Terrain has been concentrating on WA based opportunities, due to the current unpredictable travel restrictions. The board will continue to monitor health advice from the relevant authorities (WHO and Australian Government) and the factors effecting the health and safety of all Terrain's stake holders.

Compliance Statement

The Company notes that within the announcement all the information is referenced directly to the relevant original ASX market releases of that technical data. Terrain would like to confirm to readers that it is not aware of any new information or data that materially affects the information included in the relevant market announcement and, in the case of the estimates of mineral resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

Information included in this release constitutes forward looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as 'may', 'will', 'expect', 'intend', 'plan', 'estimate', 'anticipate', 'continue' and 'guidance' or other similar words, and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.

Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the company's actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the company operates or may in the future operate environmental conditions including extreme weather conditions, staffing and litigation. Forward looking statements are based on the company and its management's assumptions made in good faith relating to the financial, market, regulatory and other relevant environments that exist and effect the company's business operations in the future. Readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements are only current and relevant for the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the company does not undertake any obligation to publicly update or revise any of the forward-looking statements or advise of any change in events, conditions or circumstances ono which such statement is based.

(C) 2021 Electronic News Publishing, source ENP Newswire