Torian Resources Limited (ASX: TNR) has reported an additional new rare earths discovery at its Mt Stirling Project in Western Australia after identifying further Yttrium oxide mineralisation in close proximity to its recently announced Yttria clean heavy rare earths elements (HREE) prospect.

Surface pXRF identified a 1.3km strike at the Wishbone prospect near the Arktos Fault approximately 2.5km north-west of Yttria. Subsequently auger vacuum (AV) drilling confirmed a cluster of nine discrete Yttrium (Y) contour anomalies ranging from 100ppm to a peak of 296ppm Y.

These are all likely to be interlinked and range in strike from 140m to 350m. Combined, Wishbone and Yttria HREE mineralisation has a potential strike of around 3.6km. Both surface pXRF and AV drilling will continue to be used to delineate prospective mineralised corridors for reverse circulation (RC) and further AV extensional and infill drilling. Full details of scope of this extensive drilling campaign will be presented to the market in coming weeks. At this time, extensional drilling continues to expand Wishbone mineralisation on a 160m x 40m drill spacing, with AV drilling also targeting the 1km strike extension between Yttria and Wishbone. Samples to confirm full spectrum rare earth elements (REE) assays and total rare earths and yttrium oxidation (TREYO) are expected within three weeks. The Company understands there to be a general correlation between elevated copper, cobalt and nickel with yttrium supporting the interpretation that yttrium in the regolith was derived from a mafic and ultramafic source.

This explains why the mineral system is so devoid of uranium and thorium. The elevated zinc and yttrium suggest that the source of these metals was an alkaline intrusion. This is an important observation as these intrusions are recognised as primary hosts for rare earth element and other critical metal mineralisation. As has been previously announced the market, following a short hiatus over the Easter and ANZAC day public holidays, the Yttria Mineralogical study being conducted by the University of Queensland (UQ CHEMSCAN) continues, with favourable preliminary results being compiled for a market update in the coming weeks.

The aforementioned, an extensive infill and extensional RC and AV drilling programs are currently being planned, so as to extend the REE mineralisation and deliver on a maiden JORC Resource by end of Q3 2022.The Company is currently awaiting permitting for the RC program across 9 tenements, with drill contracts in place for remainder of 2022-23. In addition an ongoing systematic surface pXRF survey continues to test an interpreted 7.5km of REE prospectivity

Torian is entering the most exciting period in the Company's exploration history.

'Our gold exploration program at our Mt Stirling Project is due to deliver extra ounces later this month while several months of further exploration and analysis has considerably increased the board's enthusiasm and confidence in our REE discovery at Yttria and now Wishbone. In consultation with our exploration manager Claudio Sheriff-Zegers and REE consultant Professor Ken Collerson, to date, we've found no negatives at Yttria while continuing to gain a deeper understanding of the prospect's uniqueness, size and quality, on an international scale.

Contact:

Tel: 0417 711 108

Email: info@torianresources.com.au

About Torian Resources

Torian Resources Ltd (ASX: TNR) is a highly active gold and rare earths exploration and development company with over 400km-2 of tenure in Western Australia's Eastern Goldfields region, near the mining town of Leonora. All projects are nearby to excellent infrastructure. Torian's flagship Mt Stirling Project hosts a current JORC compliant total mineral resource estimate of 118,400 gold ounces1 and neighbours Red 5's King of the Hills mine. The region has recently produced approximately 14M oz of gold from mines such as Tower Hills, Sons of Gwalia, Thunderbox, Harbour Lights and Gwalia. Rare Earths with an extremely high ratio of the significant critical and valuable Heavy Rare Earths (HREEs) to Total Rare Earths (TREEs) have been discovered throughout clays and regolith horizons at Yttria at Mt Stirling. Yttria has a high ratio of HREOs to TREOs and hosts all five most critical REEs; Dysprosium / Terbium / Europium / Neodymium and Yttrium, with significant anomalous concentrations of Scandium.

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