BPM Minerals : Earaheedy Sampling Program Returns Polymetallic Targets

11 February 2022

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EARAHEEDY SAMPLING PROGRAM RETURNS POLYMETALLIC TARGETS

BPM Minerals Ltd (ASX: BPM) ('BPM' or 'the Company') is pleased to announce stream sediment sampling results from the Company's 100%-owned Ivan Well Project, located in Western Australia's Earaheedy Basin.

HIGHLIGHTS

• Assay results received from 33 stream sediment samples collected in late 2021 from BPM's Ivan Well Project.1
• Two priority Ag-Cu-Zn +/- Au +/-Ba polymetallic targets have been identified; both coincide with the interpreted outcropping position of the prospective Frere-Yelma unconformity.
• Ivan Well is located on the north-eastern margin of the Earaheedy Super Basin, an emerging metallogenic province (Fig. 1).

Figure 1 - BPM Minerals Earaheedy Basin project portfolio overlain prospective Basin geology.

1 See Table 1 for comprehensive set of stream sediment sample assay results

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11 February 2022

• The Frere-Yelma contact outcrops along the northeast side of the project and dips back under the project at a relatively shallow angle.
• Stream sediment sampling is effective and low-cost geochemical exploration which identifies water catchment areas that potentially contain outcropping mineralisation or related structures/fluid pathways (Fig. 2).

Figure 2 - BPM's Ivan Well Project, location of stream sediment samples highlighting priority polymetallic

targets overlain prospective geology

Commenting on the results, BPM Exploration Manager Oliver Judd:

"While Hawkins remains the Company's primary focus in the Earaheedy, work will continue to progress both the Ivan Well and Rhodes Projects which have both demonstrated to be prospective for a range of precious and base-metals. This part of the Earaheedy remains vastly underexplored and with previous work targeting only Iron, the northeast part of the Basin remains a priority for BPM."

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11 February 2022

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NEXT STEPS

• Historic Fe-focused exploration at Ivan Well didn't assay for base metals, BPM is currently compiling a large historical database, including stream sediment, soil, rock- chip, reverse circulation drilling, diamond drilling, and geophysical data.
• Given the significant body of previous Fe-focused work, the Company is planning lead-zinc-silver focussed exploration programs including follow-up on the priority anomalous catchments with soil grids, mapping and rock chipping to target the base of the prospective Frere-Yelma unconformity that is host to the recent lead-zinc discovery by Rumble Resources.
• • END -

This release is authorised by the Board of Directors of BPM Minerals Limited.

For further information contact:

Chris Swallow

Chief Executive Officer

1. [e-mail]

1. [phone]

Competent Person's Statement

The information in this announcement that relates to Exploration Results is based on information compiled by Oliver Judd, who is a Member of AusIMM and who has more than

five years' experience in the field of activity being reported on. The information in the market

announcement is an accurate representation of the available data.

Mr. Judd has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a

Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Judd consents to the

inclusion in the report of the matters based on his information in the form and context in which it appears.

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11 February 2022

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ABOUT BPM MINERALS

BPM Minerals Limited (ASX:BPM) is a Perth-based gold, nickel and base-metal explorer with a portfolio of projects located across some of Western Australia's most prolific greenstone belts and base-metal basins (Fig. 3). The Company is building its landholdings within Tier-1 mining locations, close to existing deposits and world-class infrastructure.

Figure 3 - BPM Minerals Western Australian Base and Precious Metals Projects.

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TABLE 1 - IVAN WELL STREAM SAMPLING ASSAY RESULTS

only	Sample_ID	MGA_E	MGA_N	Au_ppm	Ag_ppm	Ba_ppm	Cd_ppm	Cu_ppm	Mn_ppm	Pb_ppm	Zn_ppm
	IWST001	311750	7189152	0.0008	0.015	31.2	0.022	16.6	273	9.65	18.2
use	IWST002	312237	7188861	0.0003	0.018	43.5	0.045	20.3	378	11.1	17.8
IWST003	312907	7188632	0.0006	0.016	64.2	0.027	19.2	559	11.3	14.3
IWST004	313250	7188341	0.0008	0.016	36.7	0.018	16.1	520	13.15	16
IWST005	313670	7188193	0.0006	0.017	32.9	0.026	17.45	311	11.2	18.3
IWST006	314252	7187748	0.0006	0.016	39.3	0.029	16	769	13.4	13.9
IWST007	314909	7187525	0.0009	0.009	30.2	0.022	15.75	439	12.7	12.9
personal	IWST008	315158	7187234	0.0005	0.012	92.4	0.022	17.3	952	13.4	14.6
IWST015	316819	7185828	0.0006	0.012	53.1	0.04	19.1	612	11.35	17
	IWST009	315603	7186921	0.0011	0.01	45.5	0.009	17.35	585	15.2	14.2
	IWST010	315946	7186888	0.0008	0.012	18	0.014	15.45	672	13.35	11.4
	IWST011	316125	7186638	0.0009	0.007	19.6	0.013	16.05	381	11.45	12.4
	IWST012	316343	7187424	0.0005	0.013	19.8	0.012	15.6	247	10.1	12
	IWST013	316431	7187503	0.0012	0.03	88.3	0.015	27	499	13.75	21.9
	IWST014	316501	7185963	0.0012	0.012	42	0.008	13.15	148.5	9.17	11.8

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