Tennant Minerals Ltd. announced that the first new drillhole of the Stage 2 diamond drilling program at the Company's high-grade Bluebird copper-gold discovery, BBDD0018, has intersected a 7m zone of predominantly massive copper-sulphides from 164m (60% chalcopyrite ­ CuFeS2 and minor chalcocite Cu2S, see Photo 1) within a 32.5m intersection of intense haematite and copper mineralisation from 151.6m. Bluebird 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 20053. The Bluebird discovery is one of multiple targets identified within the Barkly Project along a 5km east-west trending gravity anomaly defined by Tennant, known as the "Bluebird Corridor".

This latest diamond drilling intersection on section 448,320mE has extended the thick high-grade dilational zone of mineralisation at Bluebird another 20m to the west of recent high-grade copper-gold intersections previously announced by the Company, including: o 63.0m @ 2.1% Cu and 4.6g/t Au from 153m (down hole) in BBDD00121 (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, and, o 40m @ 2.6% Cu and 1.34g/t Au from 131m (down hole) in BDD00132 (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 Significantly, modelling of IP geophysics has identified a low-resistivity/high-chargeability target zone similar to the anomaly detected over the centre of the Bluebird discovery located a further 80m to the west. This IP anomaly represents potential for major extensions of the Bluebird copper-gold mineralisation at shallow depth. Further drilling will now test 40m to the west of the BBDD0018 massive sulphide intersection the IP anomaly immediately west of Bluebird on section 448,240mE.

A second, multi-purpose (RC/diamond) drilling rig has been contracted to carry out this drilling and also test other targets within the Bluebird - Perseverance Target Zone to the west of Bluebird. Deeper diamond drill hole, BBDD0019, is in progress testing the centre of the identified Bluebird zone near the deepest significant intersection to date of 17.8m @ 3.7 % Cu, 0.34g/t Au from 277m (incl. 9.5m @ 6.0% Cu) in BBDD00152, which indicates proximity to a second dilational (thickened) zone target at depth.

Drilling to date has identified a steep westerly plunging zone of copper-gold mineralisation extending from 60m to more than 250m below surface and 150m along strike in an east-west orientation. Interpretation of the key drilling intersections, utilising structural data from logging of drill core, indicates that the thick and high-grade copper and gold intersections in BBDD00121 and BBDD00132 are associated with steeply-dipping structures that have intersected and "rolled-over" the axis of a shallow-plunging anticline, generating a thick dilational mineralised zone. The current, Stage 2 drilling program builds on the successful Stage 1 diamond drilling program recently completed at Bluebird.

Up to 10 holes for 3,000m are being drilled in Stage 2 with the aim of extending the Bluebird discovery to a depth of more than 400m and test for extensions/repeats of the high-grade copper- gold zone along strike to the west. This will define the potential for a high-grade copper-gold mineral resource of similar scale to the Peko deposit, 20km to the west of Bluebird, which produced 3.7Mt @ 4% Cu and 3.5g/t Au from 1934 and 19813. Up to seven diamond holes in the Stage 2 program will be drilled to test the steeply plunging zone at Bluebird to more than 400m below surface, and to also test for a second dilational zone immediately below BBDD0013 (17.8m @ 3.7 % Cu and 0.34g/t Au)2. An additional three drill holes are planned to follow up on the results of the IP geophysics program recently completed over the Bluebird mineralisation, to test the strong IP anomaly on 448,240mE, which represents an 80m step-out to the west of the BBDD0018 intersection described in this release.

The results of the IP program have shown 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 Au1. The Bluebird discovery is associated with a gravity high, which is part of a 5km long gravity anomaly, defining the "Bluebird Corridor".

This gravity anomaly reflects high-density, iron enrichment in the primary zone below the near surface leaching that extends to >80m depth at Bluebird. Interpretation of new detailed drone magnetics imagery and modelling, combined with the detailed gravity data, has identified 12 coincident magnetic-gravity copper-gold targets within a 2km "Bluebird-Perseverance Target Zone" extending west of the high-grade Bluebird copper-gold discovery2. This major target zone includes an exceptionally strong magnetic-gravity feature centred below the historical Perseverance gold workings.

Previous RC drilling under Perseverance produced shallow high-grade gold intersections such as 3m @ 50.0 g/t Au from 42m in PERC0155 and 3m @ 43.2 g/t Au from 72m in PERC0015. These high-grade gold intersections have not been followed up and the underlying ironstone copper-gold target is yet to be drill- tested. The Company has completed an IP geophysical survey over Bluebird which successfully detected a low resistivity, high chargeability response over the Bluebird mineralisation, along with extensions to this "fingerprint" 80m to the west on section 448,240mE.

Further IP traverses completed over the 12 gravity-magnetic targets, identified within the 2km Bluebird- Perseverance Target Zone4, have produced low-resistivity/high-chargeability anomalies similar to Bluebird in at least three target areas. Modelling of the IP data is in progress and second drilling rig has been mobilised to carry out further drilling to test the priority copper-gold targets identified from the magnetics and gravity modelling as well as the IP survey, within the Bluebird-Perseverance Target Zone.