• Maiden Mineral Resource Estimate of 148Mt @ 14.8% TiO2, 0.54% V2O5, 0.18% Cu, 0.33g/t 3PGE
• High-grade Indicated Resource of 38Mt @ 18.4% TiO2, 0.73% V2O5, 0.23% Cu, 0.72g/t 3PGE
• Metallurgical testwork confirms excellent recoveries and concentrate grades across all key metals

Terra Metals Ltd is pleased to report the maiden Mineral Resource Estimate (MRE) for its 100%-owned Dante Project, located in the West Musgrave region of Western Australia. The Dante Reefs discovery hosts a large-scale, near-surface, polymetallic system comprising titanium, vanadium, copper, gold, and platinum group metals (PGMs) mineralisation. The MRE was independently prepared by Pivot Mining Consultants and delivered just 12 months from the initial discovery. The total Mineral Resource (Indicated and Inferred) is 148Mt @ 14.8% TiO2, 0.54% V2O5, 0.18% Cu, 0.33g/t 3PGE (1.38% CuEq), containing approximately 22Mt TiO2, 800kt V2O5, 270kt Cu, and 1.6Moz 3PGE. The higher-grade Indicated Mineral Resource is 38Mt @ 18.4% TiO2, 0.73% V2O5, 0.23% Cu, 0.71g/t 3PGE (1.87% CuEq), containing approximately 7Mt TiO2, 280kt V2O5, 90kt Cu, and 870koz 3PGE. The mineralisation remains open along strike and at depth, with the current resource area covering less than 10% of the mapped mineralised trend. Metallurgical testwork completed by Dr. Evan Kirby has delivered promising results, with excellent recovery rates for copper (95.8%), titanium dioxide (65.6%), vanadium pentoxide (90.9%), platinum group metals (74.4%), and gold (75.8%).

The Company is well funded for all currently planned drilling, reconnaissance exploration and metallurgical test work, following a $4 million strategic placement.

With Phase 3 drilling about to commence and the mineral system remaining wide open, the Company sees a clear path to rapid, low-cost resource growth and potential further discoveries across this vast, underexplored province.