ASX RELEASE

20 November 2020

ABN: 45 116 153 514

ASX: TMX

Result of Annual General Meeting

In accordance with Listing Rule 3.13.2 and section 251AA of the Corporations Act, Terrain Minerals Limited (ASX: TMX) (the Company) provides information in relation to the resolutions and proxies received for its Annual General Meeting (AGM) of Shareholders held at 8am WST on 20 November 2020, as set out in the attached schedule. Each resolution was decided by a poll and was carried.

This announcement has been authorised for release to the ASX by the Company Secretary of the Company.

Melissa Chapman

Company Secretary

For further information, please contact:

Melissa Chapman

Email: terrain@terrainminerals.com.au

Phone: +61 8 9381 5558

| Terrain Minerals Limited | ASX:TMX | ABN 45 116 153 514 |

|Registered Office: S2, 28 Outram Street, West Perth, WA, 6005|

|Mail: PO BOX 79, West Perth, WA, 6872|Ph: +61 8 9381 5558|www.terrainminerals.com.au|

ABOUT TERRAIN MINERALS LIMITED:

Terrain Minerals Limited (ASX: TMX) is a minerals exploration company with a Western Australian based asset portfolio consisting of:

  • Wild-viper- WA gold exploration Project 100% owned - Key strategic land holding recently secured know as Wilson Patch (WP). Wild-viper tenement package is strategically located and also surrounds Red5 Ltd - Great Western Project (GW) as well as being adjacent to Saracen's (ASX: SAR) Bundarra gold deposits. As of the date of this announcement Terrain held 3.5 million Red5 shares (ASX: RED) from the GW sale. Terrain is currently following up on the newly identified zones of mineralisation from its August 2020 RC program. Please refer to the above announcement.
  • Smokebush - WA gold exploration Project JV to earn 80% - Terrain has identified multiple drill targets along with several other prospective areas that require additional work. Terrain executed its maiden RC drill program in August 2020, which followed up on historic drilling, that Terrain believes failed to comprehensibly test these targets. Terrain is excited from the results of this successful drill program. Please refer to the above release for a project update.
  • Project Review - Terrain Minerals is currently searching and has been assessing potential projects: Gold, Copper, Nickle and industrial minerals in Australia. Due to COVID-19 travel restrictions all regions outside of WA as well as foreign jurisdictions are still being considered but are becoming more problematic as due diligence cannot be carried out and staff safety cannot be guaranteed. All economic commodities are being considered as indicated in previous Quarterly reports.
  • Due to the COVID-19Situation - Terrain has been concentrating on WA based opportunities, due to the current travel restrictions that are in place. The board will continue to monitor advice from the relevant authorities (WHO and Australian Government) about the virus and the factors effecting the health and safety of all Terrain's stake holders, as well as the current travel restrictions.

| Terrain Minerals Limited | ASX:TMX | ABN 45 116 153 514 |

|Registered Office: S2, 28 Outram Street, West Perth, WA, 6005|

|Mail: PO BOX 79, West Perth, WA, 6872|Ph: +61 8 9381 5558|www.terrainminerals.com.au|

Results of Annual General Meeting held at 8am WST on 20 November 2020 (Proxy Votes)

Resolution details

Instructions given to validly appointed proxies (as at

Number of votes cast on the poll

Resolution

proxy close)

Result

No

Resolution

For

Against

Proxy

Abstain

For

Against

Abstain*

Carried / Not

Discretion

Carried

1

Remuneration report

160,163,170

476,111

15,560,121

703,000

175,973,391

476,111

703,000

Carried

(Non-binding)

2

Re-election of

Director - Mr Trevor

184,477,856

259,111

15,560,121

400,000

200,288,077

259,111

400,000

Carried

Bradley

3

Approval of 10%

184,452,856

103,000

15,560,121

581,111

200,263,077

103,000

581,111

Carried

placement capacity

4

Approval of Grant of

Options to Justin

143,863,170

16,629,111

16,010,121

400,000

160,123,391

16,629,111

400,000

Carried

Virgin

5

Approval of Grant of

Options to Trevor

168,182,856

16,629,111

15,485,121

400,000

183,918,077

16,629,111

400,000

Carried

Bradley

6

Approval of Grant of

Options to Johannes

168,182,856

16,629,111

15,485,121

400,000

183,918,077

16,629,111

400,000

Carried

Lin

7

Ratification of Prior

Issue of Shares

184,402,856

103,000

15,610,121

581,111

200,263,077

103,000

581,111

Carried

Smokebush Farm-in

Agreement

8

Amendment to the

183,927,856

459,111

15,560,121

750,000

199,738,077

459,111

750,000

Carried

Constitution

* Votes cast by a person who abstains on an item are not counted in calculating the required majority on a poll

| Terrain Minerals Limited | ASX:TMX | ABN 45 116 153 514 |

|Registered Office: S2, 28 Outram Street, West Perth, WA, 6005|

|Mail: PO BOX 79, West Perth, WA, 6872|Ph: +61 8 9381 5558|www.terrainminerals.com.au|

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Terrain Minerals Limited published this content on 20 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 November 2020 06:32:00 UTC