Terrain Minerals Limited (ASX: TMX) (Terrain) is pleased to provide the following update on its activities for the December 2020 quarter.

HIGHLIGHTS: Smokebush - Gold Exploration Project

Maiden RC Drilling Program at Monza (Au) Results Include: 4m at 4.46 g/t Au (incl 1m at 10.3 g/t) from 51 metres

7m at 2.72 g/t Au (incl 1m at 11.1 g/t) from 25 metres and 1m at 0.85g/t from 43m

6m at 2.12 g/t Au (incl 1m at 7.2 g/t) from 80 metres

8m at 1.37 g/t Au from 85 metres and 2m at 0.8 g/t from 96m

3m at 1.14 g/t Au from 103 metres and 1m at 0.74 g/t from 111m - New Zone

1m at 0.63 g/t Au from 28m, 1m at 0.57 g/t from 33m & 1m at 0.53 g/t from 54m

1m at 0.72 g/t Au from 14 metres SBRC009 - hole failed to reach target depth

Rock Chip Samples near Monza:

3.41 g/t Au - Sample description: Glassy quartz vein in working

7.09 g/t Au - Sample description: Felsic with fine stockwork veining

100 g/t Au - Sample description: Glassy quartz vein in working

About Smokebush Gold Project

Terrain has the right to earn up to 80% of the Smokebush tenements via expenditure of $250,000 over 2 years, refer to ASX release reference below for further details. New areas have been applied for which are 100% owned by Terrain (once granted). The Smokebush Project Area is located approximately 85 kilometres east northeast of the Perenjori township and 65 kilometres west of Paynes Find within the Yalgoo Mineral Field. The tenements can be accessed via the unsealed Perenjori - Warriedar Road, and thence via extensive historical exploration grid lines, station tracks and fences lines.

Contact:

Justin Virgin

Tel: +61 8 9381 5558

Email: terrain@terrainminerals.com.au

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