Tennant Minerals Ltd. announced that drill-testing of priority geophysical targets west of Bluebird in the Bluebird-Perseverance Target Zone 4 has intersected multiple new zones of mineralised and haematite-altered breccias, interpreted to lie above ironstone-hosted copper- gold deposits. Three, priority, coincident magnetic, gravity and induced polarisation (IP) low-resistivity targets were selected for initial drill-testing, including Perseverance North, Perseverance and Bluebird West. A multi-purpose (DDfirst half) rig was utilised to complete eight reverse-circulation (RC) holes with six diamond tails completed, for a total of 1981.1m.

The first new target tested was Perseverance North, where drilling tested a coincident gravity and reversely polarised magnetic zone associated with a low resistivity/high-conductivity IP anomaly. This is indicative of a mineralised structure by analogy with the low-resistivity anomaly associated with the high-grade Bluebird copper-gold discovery. Two pre-collared diamond drillholes tested across the IP anomaly, intersecting strongly brecciated, haematite-altered breccia lodes/structures from 225m to 240m (15m) downhole and from 261m to 268m downhole.

The haematite breccia structures correlate with the upper part of the low- resistivity zone detected by the IP survey. The geophysical pattern observed at Perseverance North is very similar to the Bluebird discovery. The haematite breccia lodes intersected by PNDD0002 are interpreted to lie above potentially copper- gold mineralised ironstone, as indicated by the gravity anomaly and the thickening low-resistivity zone at depth.

Further IP geophysics will be carried out along strike to the east and west of the central section tested at Perseverance North to map out the low resistivity mineralised structure. Modelling of the IP results, as well as inversion depth modelling of the gravity and magnetic data, will allow the Company to refine targets for further drilling to locate the potential copper-gold mineralised core of this highly prospective zone. At Perseverance, two drillholes tested below the historical gold mine workings (where previous drilling results include 3m @ 50.0 g/t Au from 42m in PERC0153 and 3m @ 43.2 g/t Au from 72m in PERC0012).

RC drillhole PVRC0001 intersected the hangingwall structure associated with the high-grade gold mineralisation before passing into a 23m zone with haematite alteration and potentially copper mineralisation from 60m to 83m downhole. The deeper diamond drillhole, PVDD0001 intersected a similar zone including haematite alteration from 90m to 130m downhole. The high gold values in previous drilling at Perseverance indicate potential for a similar discovery to the nearby Nobles Nob deposit, 20km to the west, which produced 2 million tonnes of ore grading 17.3 g/t Au from 1947 to 19865.

Additional IP geophysics will be carried out along strike to the east of Perseverance to map out the low- resistivity structure. Modelling of the IP results, as well as inversion depth modelling of the gravity and magnetic data, will allow the Company to determine the depth at which the mineralised structure at Perseverance intersects the ironstone ­ the targeted location of a repeat of the Bluebird discovery. Further drilling is planned to test the Perseverance structure at depth and along strike to the east, where gravity imagery and modelling indicates a link with the Bluebird discovery located 1.6km to the east of Perseverance.

At Bluebird West, haematite-altered mineralised structures have also been intersected, associated with an IP low-resistivity (high-conductivity) anomaly analogous to the IP low resistivity zone associated with the Bluebird discovery. Breccia filled fault zones at 234m, 254m and 276-277m downhole in BWDD0001 correlate with the upper part of the low-resistivity zone detected by the IP survey. Further IP geophysics will be carried out along strike to the east and west of the section tested at Bluebird West to map out the low-resistivity structure.

Modelling of the IP results, as well as inversion depth modelling of the gravity and magnetic anomalies, will allow the Company to refine targets for further drilling to locate a potential repeat of the Bluebird copper-gold deposit along strike and at depth within this highly prospective zone. Further IP geophysics will be carried out east of the Bluebird discovery, where previous shallow drilling produced highly anomalous copper and gold results associated with extensions of the east-south-east. Step-out IP sections will also be carried out west of Bluebird to target drilling to extend the mineralisation, which remains completely open to the west and at depth.

The gravity high associated with the Bluebird discovery continues east and west of Bluebird, linking with the Perseverance Target zone, which indicates potential for multiple high-grade copper-gold deposits within a major, more than 2km strike-length, mineralised corridor. The high-grade Bluebird copper-gold discovery is located within the Company's 100% owned Barkly Project, at the eastern edge of the Tennant Creek (copper-gold) Mineral Field (TCMF), which produced over 5Moz of gold and over 500kt of copper from 1934 to 20055. The latest diamond drilling intersections in the Stage 2 drilling program have extended the thick high-grade dilational zone of mineralisation at Bluebird 120m to the west of the Stage 1 high-grade copper-gold intersections (total now 240m strike-length and open in all directions) previously announced by the Company1,2, which include: 63.0m @ 2.1% Cu and 4.6g/t Au from 153m (down hole) in BBDD00122 (448,360mE), including 40.0m @ 3.0% Cu and 7.3g/t Au from 155.0m, including 27.55m @ 3.6% Cu and 10.0g/t Au from 160.45m.

40m @ 2.6% Cu and 1.34g/t Au from 131m (down hole) in BDD00136 (448,340mE), including 24.5m @ 3.9% Cu and 0.45g/t Au from 146.5m, including 4.75m @ 15.2% Cu and 0.36g/t Au from 164m. 50.0m @ 2.7% Cu and 0.52 g/t Au from 158m (down hole) in BBDD00071 (448,380mE), including 24.0m @ 5.01% Cu and 1.01 g/t Au from 159m, including 4.3m @ 14.7% Cu and 3.10 g/t Au from 176.6m. The most recent drilling which targeted depth extensions of the Bluebird deposit produced results including 17.8m @ 3.7% Cu, 0.34g/t Au from 277m (including 9.5m @ 6.0% Cu) in BBDD00156, which indicates proximity to a second dilational (thickened) zone target at depth.

The results of the IP program carried out at Bluebird revealed a distinct low-resistivity (high conductivity) and coincident chargeability response corresponding with the Bluebird mineralisation on the central section 448,360mE, thus confirming that Bluebird can be detected with IP. This section includes the BBDD0012 intersection of 63m @ 2.1% Cu, 4.6g/t Au2 and the IP low-resistivity zone indicates continuity below 400m depth.