• New assays confirm a large, continuous, and thick PGM-Cu-Ni sulfide discovery.
• Drilling targeted a mineralised ultramafic package ranging from 150m to over 500m thick.
• All reported RC pre-collars ended in mineralisation, with deeper diamond tails pending assays.
• Multiple rigs continue extensional and infill drilling, identifying multiple large mineralised sulfide units.
• Heritage surveys scheduled to expand drill access for future grid-spaced resource drilling.

Terra Metals Ltd reports significant drilling results from the Southwest Discovery at the Dante Project, confirming a large and continuous platinum-group-metal (PGM), nickel, and copper sulfide system within a newly recognised ultramafic package. The RC pre-collars successfully demonstrated the continuity of this large mineralised system, with all holes ending in mineralisation. The deeper diamond tails, completed to depths of up to 919 metres, remain pending assays and represent significant additional upside. The new assay results confirm broad intervals of PGM-Ni-Cu sulfide mineralisation hosted within a mineralised ultramafic package between the SW5 and SW6 discovery zones. The results significantly improve confidence in the scale and continuity of the mineralised system, with continuity of the mineralisation now confirmed between the previously reported discovery areas.

The Company considers Southwest to remain at an early stage, with ongoing drilling expected to further define the scale, continuity, grade distribution, and potential higher-grade sulfide positions within the broader mafic-ultramafic hosted sulfide system.