• Second batch of assays confirm a major PGM sulfide discovery at Southwest
• Highlights include 14m @ 6.71g/t PGE3 from 68m, including 1m @ 52.97g/t PGE3
• PGM-Cu-Ni mineralisation defined over a large area, open in all directions

Terra Metals Limited (ASX: TM1) has reported confirmation of a major high-grade platinum group metal (PGM) sulfide discovery at the Southwest Prospect within the Dante Project, following receipt of second-pass assay results from the SW5 target. New reverse circulation (RC) drilling results from drillhole SWT008 have returned exceptionally high PGM grades, including individual assays up to 52.97 g/t PGE3, within broad mineralised intervals starting from near surface. These results substantially upgrade the tenor of mineralisation previously reported at SW5 and confirm the presence of extensive and high-grade PGM-Cu-Ni sulfide mineralisation within the Southwest corridor, which now spans more than 850m in strike length, and 250m in width (open). The SW5 discovery builds directly on earlier PGM-Cu-Ni sulfide mineralisation intersected at SW6 and supports an interpretation that mineralisation at Southwest is linked to a shared feeder conduit or magma plumbing system supplying the broader, gently tilted layered mafic intrusion. Assays remain outstanding for multiple visually identified sulfide intervals across Southwest, providing a continued pipeline of results.

The Company believes the Southwest Prospect at the Dante Project has significant potential for further high-grade PGM-Cu-Ni discoveries, with mineralisation remaining open in all directions and at depth. Follow-up drilling is planned to accurately constrain true widths, internal layering and structural controls, and test down-dip and along-strike continuity of the sulfide-bearing units.