Terrain Minerals : 7/12/2020 - Notice of Release from Escrow

ASX RELEASE	ABN: 45 116 153 514
7 December 2020	ASX: TMX

Notice of Release from Escrow

In accordance with Listing Rule 3.10A, Terrain Minerals Limited (ASX: TMX) (Company) advises that 5,000,000 fully paid ordinary shares (Shares) are due to be released from escrow on 20 December 2020. Shares were issued as part of the acquisition payment in respect to the Smokebush Gold Project.

Melissa Chapman

Company Secretary

For further information, please contact:

Melissa Chapman

Email: [e-mail]

Phone: [phone]

| 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: [phone]|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 has followed up on the newly identified zones of mineralisation from its August 2020 RC program and has recently competed at ~2,400 meters air core program. Samples are currently at the laboratory awaiting processing.
• 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. Terrain is excited about the results from its successful program and has now commenced a detailed ground mag and mapping program around the Monza prospect and over the greater Smokebush area, including the Paradise City Prospect, which is located on a newly granted tenement and 100% owned.
• 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.

Authority:

This announcement has been authorised for release by Justin Virgin, Executive Director of Terrain Minerals Limited.

| 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: [phone]|www.terrainminerals.com.au|

| 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: [phone]|www.terrainminerals.com.au|