Resource Upgrade Drilling Continues to Confirm Thick Reef

• Thick, laterally continuous Ti-V-Cu-PGM-Au mineralization from surface
• Infill drilling returns highest individual metal grades seen at Reef 2
• Reef 1 and 2 differ from Southwest PGM-Cu-Ni discovery in metal associations

Terra Metals Limited (ASX: TM1) is pleased to report a second round of assay results from resource upgrade drilling at Reef 2 (Hyperion) within the Dante Project, confirming thick, laterally continuous titanium-vanadium-platinum group metals (PGM)-copper-gold mineralization from surface. Infill and step-out drilling continues to demonstrate a robust, stratiform reef system characterized by broad mineralized envelopes containing higher-grade internal reef zones, supporting both resource growth and future confidence upgrades. Some of the highest individual metal grades recorded to date at Reef 2 (Hyperion) have now been returned, highlighting the upside potential within previously drilled areas. Reef 2, together with Reef 1 (Crius), forms part of the existing Dante Reefs Mineral Resource Estimate and represents a titanium-vanadium-PGM-gold-copper-dominant system, distinctly different in style and metal association from the newly discovered palladium-rich PGM-Cu-Ni sulfide systems at Southwest. With assays still pending for more than 50% of the 2025 resource upgrade drillholes, Terra expects a strong ongoing flow of results as the Company continues to systematically advance the Dante Project.