Tennant Minerals : Bluebird Native Copper Intersected & Extended Down Plunge

The previously reported mineralised intersections, including BBDD0009 which intersected 50m of intense haematite, brecciation and minor to abundant malachite/chalcocite4, have now been logged and are being sampled for analyses2

ASX ANNOUNCEMENT
21 December 2021	ASX code: TMS
only	Native Copper Intersected in Bluebird Drilling
Mineralised Zone Extended and Open Down Plunge
use	Five diamond drillholes have now been completed at the Bluebird Prospect for 1,048m:

• all diamond drillholes have intersected significant intervals of haematite alteration with visible copper mineralisation, including malachite, chalcocite and native copper
• The fourth hole, BBDD0010 (down-plunge of previous hole, BBRC019, which ended in 3.9g/t Au, 4.8% Cu1) intersected over 35m of haematite alteration with copper mineralisation, including native copper
• The latest diamond hole, BBDD0011, a step out of over 30m west of any previous intersections, intersecting 27m of alteration with haematite and minor to strong malachite that remains open down-plungeto the southwest as well as up and down dip

personalTennant Minerals Limited (ASX: TMS) (TMS or the Company) is pleased to announce that five diamond drillholes have now been completed at the Bluebird Prospect for 1048m and all five holes have intersected intense

haematite alteration with visible copper mineralisation (malachite and/or chalcocite and native copper).

ForThe last two "step-out" holes of the current program, BBDD0010 and BBDD0011, intersected 36m and 27m of alteration respectively, with haematite and copper mineralisation including malachite, native copper and sulphides (chalcocite and pyrite). These step-out holes have extended the mineralisation both down dip and down plunge over 30m to the southwest of any previous intersections (see longitudinal projection Figure 1).

Tennant Minerals Chairman, Mr Matthew Driscoll, commented:

"This Bluebird diamond drilling program has already achieved its key objectives, including successfully testing the main target zone and intersecting significant thicknesses of mineralisation well into the footwall, with visible copper minerals, including native copper.

"The latest step-out drillholes have extended the footprint of the Bluebird copper-gold deposit by over thirty metres down plunge, and the zone remains open in all directions.

"We look forward to seeing the results of the Bluebird drilling completed to date so that we can plan the next stage of this exciting program."

Tennant Minerals Limited ACN 086 471 007 I Level 1, 247 Oxford Street, West Leederville WA 6007 I www.tennantminerals.com

Diamond drillhole BBDD0010 intersected 35m of quartz veining, haematite alteration and copper mineralisation (including malachite, chalcocite and native copper)from 190m. This mineralised intersection is

a further 20m down plunge from the previously reported 50m mineralised intersection in BBDD00094 and

onlyimmediately below previous hole, BBRC019, that was abandoned in 3.9 g/t Au, 4.8% Cu1 after intersecting usepersonal

"only" 15m of mineralisation (15m @ 3.46% Cu, 0.61g/t Au from 172m1) (see cross section 448,360mE, Figure 1, and longitudinal projection, Figure 2).

For	Figure 1: Bluebird cross-section 448,360mE with the BBDD0010 mineralised intersection below previous intersection
BBRC0019 that was abandoned in 4.8% Cu, 3.96 g/t Au1,2

The final hole of the current program, BBDD0011, tested the Bluebird mineralisation over 30m down-plungeto the west of previous intersections, and intersected 27m of alteration with ironstone/haematite and strong malachite (copper carbonate)in fractures with quartz veining on the periphery (see cross section 448,340mE,

Figure 3).

The previously reported, BBDD0009, intersected a 50m zone from 165.6m of intense haematite-silicabreccia with minor to abundant malachite with chalcocite (copper sulphide) in the main target zone, continuing into the newly discovered footwall zone to 216m4,5(see cross section 448,380mE, Figure 4).

** This announcement is authorised by the board on behalf of the Company **

Tennant Minerals Limited ACN 086 471 007 I Level 1, 247 Oxford Street, West Leederville WA 6007 I www.tennantminerals.com

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For	Figure 2: Bluebird longitudinal projection showing BBDD0007, BBDD0008 and BBDD009 pierce points

Further drilling will be required to define the extent the Bluebird copper-gold deposit and determine if the scale, as well as the grade, can replicate other major high-gradecopper-gold deposits in the Tennant Creek Mineral Field such as the Peko deposit, that produced 147,000 tonnes of 4% Cu and 414Koz at 10 g/t Au and lies only 20km to the west of Bluebird (see location, Figure 5). This drilling is currently being planned with the current contractors scheduled to return after the Northern Territory wet season, in the March quarter 2022.

Drillcore is currently being logged and sampled prior to despatch to the Intertek laboratory in Alice Springs for sample preparation then pulps to be sent for a full ICP suite of analyses at Intertek, Perth.

** This announcement is authorised by the board on behalf of the Company **

Tennant Minerals Limited ACN 086 471 007 I Level 1, 247 Oxford Street, West Leederville WA 6007 I www.tennantminerals.com

Figure 3: Bluebird cross-section448,340mE with the BBDD0011 mineralised intersection, open in all directions

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personalForThe mineralisation intersected at Bluebird is typical of the high-gradecopper-goldore-bodies in the Tennant Creek Mineral Field of the Iron-Oxide-Copper-Gold (IOCG) type. The high-grade mineralisation is associated with intense haematite alteration and brecciation with quartz veining inside a halo chlorite alteration and variable haematite development. The upper parts of the shoots include secondary malachite (copper-carbonate) minerals as well as native copper, which transitions to primary sulphide mineralisation at depth e.g. chalcocite, bornite, chalcopyrite or tennantite.

The drilling to date has only just penetrated the transition to primary sulphide mineralisation in association with the IOCG mineralisation. Orebodies such as Peko (Figure 5, location) occur as multiple shoots within a plunging alteration zone of similar dimensions to Bluebird. The shoot currently being drilled may represent only the

upper zone of a much larger deposit and deeper drilling will be required to test for repeats/extensions at depth.

** This announcement is authorised by the board on behalf of the Company **

Tennant Minerals Limited ACN 086 471 007 I Level 1, 247 Oxford Street, West Leederville WA 6007 I www.tennantminerals.com

In addition to Bluebird, there is excellent potential to discover multiple high-gradecopper-gold shoots within
the 5km strike length corridor of coincident magnetic and gravity highs that includes Bluebird and the
Perseverance mine (Figure 6). This corridor has had minimal testing below the leached zone that continues to
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>50m below surface. Further modelling of the magnetic and gravity data will help determine depths to target
to assist further drill targeting.
For	Figure 4: Bluebird cross-section 448,380mE with the BBDD0009, 50m, mineralised intersection

Appendix 1 includes drillhole details to date.

Appendix 2 includes JORC table 1, including details and sampling procedures in previous holes.

** This announcement is authorised by the board on behalf of the Company **

Tennant Minerals Limited ACN 086 471 007 I Level 1, 247 Oxford Street, West Leederville WA 6007 I www.tennantminerals.com