• Drilling at the new Southwest Prospect has intersected a 58m thick titano-magnetite reef layer
• The intercept occurs within a corridor where 5.2km of new reef strike has recently been mapped
• Phase 3 drilling is ongoing with numerous high-priority targets still to be tested

Terra Metals has announced the successful results of its recently commenced Phase 3 drilling program at the 100%-owned Dante Project in Western Australia. Drilling at the new Southwest Prospect has intersected a 58-metre-thick titano-magnetite reef layer, the thickest reef interval encountered to date at the project. The intercept, from 132m to 190m downhole, was observed in drill hole SWRC008 and confirms the company's exploration strategy of targeting thicker and higher-grade portions of reef mineralisation. The new results come shortly after the delivery of a 148Mt maiden Mineral Resource Estimate and provide immediate growth momentum as the Phase 3 program progresses. The Southwest Prospect is a newly defined and highly prospective 12km2 target area within the Dante Project, representing one of the most compelling growth opportunities across the broader Jameson Layered Intrusion. The prospect is supported by multiple layers of evidence, including structural complexity, geochemical fertility, magnetic anomalism, historical drill confirmation, and new mapping, making it one of the most highly ranked targets within the Dante Project. The indications of Bushveld-style reef stratigraphy reinforce the potential for the Southwest Prospect to host a globally significant, multi-commodity critical metals system that could materially expand the Dante resource base. With less than 10% of the total strike drilled to date, the company sees substantial potential for further discoveries and Mineral Resource growth across the broader Dante Project.

The company remains well funded for all planned exploration and metallurgical testwork, supported by a recent $15 million institutional placement. With a large pipeline of high-priority targets still to be drilled, the potential for further discoveries and significant Mineral Resource expansion remains high.