Terrain Minerals Limited (ASX: TMX) (Terrain) is pleased to update the market regarding recent findings from field observations and corresponding rock chip sample results taken during two field trips during the quarter, over three new areas of interest identified at the Wild-viper Gold Project.

Terrain geologists mapped and sampled the Wild-viper Gold Project to improve the geological understanding of the area. A total of 51 rock chip samples were collected covering an area of approximately 400m as part of this work. The high-grade rock chips were taken from a zone of patchy subcrop near the eastern margin of Terrains tenement E 37/1214, in an area termed, 'Eastern Quartz Veins'. The high-grade rock chips are associated with a steeply dipping quartz vein array within host granitoid of the Bundarra batholith. Sub vertical vein sets occur in at least two strike orientations interpreted as a conjugate set.

The vein array occurs on the far east of the tenement in an area where sparse prior exploration has occurred, and only patches of previous RAB drilling. Historical RAB holes that transect parts of this newly identified area were limited in effectiveness because they were drilled vertically.

In addition to high grade rock chips identified in the East of Terrain tenement, Terrain has identified a new anomalous area with rock chips up to 2.6 g/t Au which has been named, 'Wilsons Arc'. Mineralisation in this area occurs within quartz veins in the southern portion south of the Great Western deposit and over the historic Wilson Patch area. There is a moderate level of historic exploration that corroborates these results and consist of small historic workings and patches of vertical RAB 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: Investments: As of the date of this announcement Terrain held 2 million Red 5 Limited shares (ASX: RED) from the GW sale. Issued at 19c - value at 28c = $560,000 AUD.

Smokebush - WA gold exploration Project JV (80% TMX) - Terrain has identified multiple drill targets along with several other prospective areas. Terrain executed its highly successful maiden RC drill program in August 2020, following up on historic drilling. The second phase of drilling has extended minerals a further 400m to 700m long and a has also identified a new zone Monza Norths that appears to be on a different orientation. Further follow up work is also required over Paradise City (100% TMX), Wildflower and Hurley prospects.

Wild-viper - WA gold exploration Project 100% owned - which incorporates the strategic land holding known as Wilson Patch (WP). Wild-viper tenement package is strategically located and surrounds Red5 Ltd - Great Western Project (GW) as well as being adjacent to Northern Star Resources (ASX: NST) Bundarra gold deposits. Terrain's geologist has recently conducted several on site mapping and sampling programs, following up from new in-house interpretation.

Project Review - Terrain Minerals continues to investigate potential projects across various commodities including Gold, Copper, Nickel and other industrial minerals, lithium, REE and the platinoids groups of metals in Australia and again in other jurisdictions like Africa, Continental Europe, and the Americas. Terrain is currently advancing conversations and investigating several opportunities offshore. The current COVID-19 travel restrictions, appear to be easing globally and foreign travel may become more readily available in the near term.

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