Tambourah Metals : Drilling Completed and Pegmatites Identified at Tambourah

5 April 2022

Drilling Completed and

Pegmatites Identified at Tambourah Project

Highlights:

• • RC drilling for gold mineralisation completed and samples submitted to the lab

• • First pass prospecting has confirmed Pegmatites at Tambourah

• • No previous Lithium exploration has been undertaken at Tambourah Gold Project

• • 15 Rock chip samples collected during reconnaissance mapping, with assays pending

Gold RC Drilling Summary

Tambourah Metals Limited ("Tambourah" or "the Company") is pleased to announce the completion of 23 RC holes for 2527m first pass drilling at the Tambourah Gold Field. The drill targets were along strike from, and beneath, the historic workings at Tambourah King, Western Chief, Western Chief South, Federal and Kushmattie (See figure 1).

Drilling confirmed the presence of sulphides and quartz veins in the interpreted mineralised zones within the barren amphibolite host rock. All samples have been submitted to ALS laboratories in Perth, with results expected to be returned in approximately 3 months.

The geological logs will be compiled in the coming weeks and cross sections of the geological results modelled to increase the understanding of the geological model for the mineralisation at Tambourah. An improved geological model will assist with refined drill targeting.

The drilling at the historic Federal Workings was completed using a 2021 DMIRS EIS grant.

Figure 1 Tambourah Drill Hole Locations

Pegmatite Exploration

Pegmatites are hosted in the Soansville Group Formation which hosts Pilbara Minerals' (ASX:PLS) Pilgangora Lithium Deposit 226Mt @ 1.29% Li2O and Mineral Rersources' (ASX:MRL) Wodgina Lithium deposit 236Mt @ 1.2% Li2O.

Company geologists Dr Peter Kovac and Kelvin Fox undertook first pass prospecting at Tambourah Gold project and identified the presence of pegmatite rocks at several sites across the project area (see figures 2 and 3 and table 1).

Project

SampleNo.

Tambourah Li001	725,633 7,593,092
Tambourah Li002	726,823 7,592,940
Tambourah Li003	726,840 7,592,853
Tambourah Li004	727,048 7,592,782
Tambourah Li005	726,153 7,586,188

Table 1 Tambourah Initial Prospecting Pegmatite Locations

Follow-up prospecting is being undertaken to assess these initial sites (see figure 4) and more widely across the project to identify more potential pegmatite sites.

The pegmatites appear to occur in 3 geological settings:

• • At the contacts of granites and greenstones

• • Wholly within the granites

• • Wholly within the greenstones.

These geological settings are consistent with the regional settings for hosting pegmatites within the broader Tambourah district (see figure 5).1

Executive chairperson Rita Brooks noted "The successful completion of the maiden drill program at Tambourah marks a significant milestone for Tambourah Metals and we look forward to receiving the assay results. Potential lithium bearing pegmatites have been identified across the Tambourah Goldfield. Mapping and sampling for pegmatites will commence in the upcoming weeks."

Figure 2 Pegmatite Samples Li0001 and Li0003

Figure 3 Pegmatite Sample Li005

Tambourah Gold and Lithium Project

Tambourah is located approximately 200km south southeast of Port Hedland and 80km southwest of Marble Bar within the Pilbara Mineral Field. Access is via the Great Northern Highway or the Marble Bar-Port Hedland Road and the connecting-Woodstock-Hillside rd. In 2013, Altura Mininng, to the north of the Tambourah goldfield, identified outcropping lithium mineralisation hosted within pegmatites. These dykes are up to 1km strike length and 100 metres in width along the granite-greenstone margin. No historic lithium exploration has been undertaken at the TMB gold and lithium project and the next phase of exploration will assess the size and continuity of the pegmatites within the TMB tenure.