Terrain Minerals Limited (ASX: TMX) is pleased to announce that it has analysed the results from the ground-based geophysics program conducted in December 2020 over the Smokebush gold project.

The geophysics concentrated on 3 key areas; Monza, Wildflower and Paradise City. All data has been merged with the existing data to create an advanced data base for precise drill targeting.

The program also consisted of a very detailed mapping program which extended beyond the key areas. This has identified several new areas that now require further investigation. One of these new areas is situated along the newly identified Monza corridor.

The Survey Covered: Monza (TMX earn in 80%) 700 by 1000-meter area was covered by 50m spaced northsouth ground magnetic lines. The information will assist with preparation for drilling which will be targeting depth and strike extents, as well as testing new areas along the 800m plus strike.

Wildflower (TMX earn in 80%) 650 by 1000-meter area was covered by 50m spaced northsouth ground magnetic lines. This prospect requires further investigation to understand structural controls on gold mineralisation due to transported cover, an air core program is currently being designed.

Paradise City (100% TMX) 600 by 1200-meter area was covered 50m spaced east-west ground magnetic lines. Planning is now underway for the maiden drill program which follows up on an exceptional historic first pass RC program (refer ASX announcement 3 December 2020). This target shares similarities to Monza prior to Terrain's successful maiden drilling program. The structure appears to head north towards other known mineralisation some 3km to the north.

Preparation for drilling is underway which is following on from the highly successful maiden drill program at Monza Gold prospect conducted in August 2020 (refer ASX announcement 12 October 2020). Terrain has submitted program of works (POW) applications to the Department of Mines to conduct maiden drilling at Wildflower and Paradise City. The market will be updated regarding the progress of permitting and plans for drilling.

Contact:

Justin Virgin

Tel: +61 8 9381 5558

Email: terrain@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 - which incorporates the strategic land holding 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 plans to continue exploration over this strategic located tenement.

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 completed a detailed ground mag and mapping program around the Monza prospect and over the greater Smokebush area, including the Paradise City (100% TMX) and Wildflower prospects. Preparing for drilling over these key areas as now commenced.

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-19 Situation - 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.

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