• New results from 2025 resource upgrade drilling confirm exceptional geological continuity, with thick, predictable Ti-V-Cu-PGM mineralisation
• Metallurgical testwork indicates ability to produce high-grade concentrates using simple, low-cost processing
• First-pass drilling at Legacy and Reef 5 confirms additional high-grade oxide reefs, demonstrating significant upside for further resource expansion

Terra Metals Limited (ASX: TM1) is pleased to report a comprehensive set of assay results from drilling at Reef 1 North (Crius), Reef 2 (Hyperion), Legacy, and Reef 5 prospects within the Dante Project, confirming a laterally and vertically continuous, multi-reef titanium ('Ti')-vanadium ('V')-copper ('Cu')-platinum group metal ('PGM') system extending over tens of kilometres of strike. Results are reported here from 77 reverse circulation ('RC') drillholes and 4 diamond drillholes ('DD'). Drilling at Crius continues to demonstrate a robust, stratiform reef system characterised by thick mineralised envelopes with multiple higher-grade internal zones enriched in titanium, vanadium, copper and PGMs. Drilling at Hyperion has confirmed the presence of a second, laterally continuous Ti-V reef of comparable thickness and grade, reinforcing the predictable, high-tonnage nature of mineralisation. Drilling at Legacy has confirmed the presence of an additional high-grade oxide reef situated higher in the stratigraphy, while results from Reef 5 also demonstrate the presence of multiple stacked oxide horizons above Hyperion, highlighting the potential for additional mineralised reef packages further up-section.

The Company will continue to optimise the flowsheet and advance studies on the Dante Reefs Mineral Resource Estimate, while turning its on-ground focus toward unlocking the high-grade PGM-Cu-Ni sulfide system at Southwest, as well as targeting regional Southwest analogues.