Project

Ownership: 100% Terrain Minerals Limited

Location: 350 kilometres north of Perth, within the Murchison Gold Province of Western Australia. The project is contained within contiguous Licenses enclosing a total area of approximately ~170 square kilometres. Additional areas have also been pegged and granted and are 100% owned. The tenements can be accessed via the unsealed Perenjori - Warriedar Road, and thence via extensive historical exploration grid lines, station tracks and fences lines.

Background: Terrain’s Smokebush Gallium Project is positioned between granites and to the east the projects advanced gold targets.

Incorporates the following sub-projects:

Gallium/REE Project: Larin’s Lane, Gallium oxide (sand/regolith) Project.
Gold Targets: Refer to the Smokebush Gold tab for advanced gold targets.

Larin's Lane: Unlocking Gallium Potential

• JORC Exploration Target: Released November 2024, covering just 5% of the 27km² target area—significant opportunity remains with the 9km x 3km zone still open.
• Promising Geological Findings: 
  • High-grade Gallium Oxide/Clays overlying a layer of Rare Earth Elements (REE).
  • 70% of drill holes delivered impressive Gallium intersections, up to 64m wide.
  • Multiple high-grade zones identified, with values up to 53.74 g/t (ppm) Ga₂O₃.

  Selected holes include:

  Applying: Gallium Oxide (Ga0) cut-off 40.32 g/t (ppm)

  • 16m @ 53.74 g/t Ga203 from 64m - (23SBAC035)
  • 20m @ 48.33 g/t Ga203 from 4m - (23SBAC045)
  • 30m @ 40.32 g/t Ga203 from 24m - (23SBAC071)
  • 24m @ 46.34 g/t Ga203 from 32m - (23SBAC077)
  • 8m @ 52.62 g/t Ga203 from 20m - (23SBAC080)
    For additional results data including JORC see ASX release 27 May 2024.
    
  
  
• Current and Future Initiatives: 
  • Metallurgical study underway, via MRIWA study with results expected late December 2026.
  • Minerals Research Institute of WA (MRIWA) is an Industry and WA Government funded initiative with studies being conducted jointly with RSC and Curtin University of WA.
  • Ongoing discussions with industry and offtake partners to advance project opportunities.
    
  
  
• What is Gallium?
  • Gallium is classified as a critical metal by the USA, United Kingdom, Japan, European Union and Australia.
  • Main applications are in defence, semi-conductors and computer chips, electronic circuitry and photovoltaic cells. lasers, NdFeB magnets and Light Emitting Diodes (LED’s).
  • Presently 98% of global supply is ex-China. USA, Japan and European semi-conductors manufacturers are actively encouraging a more geographically balanced supply chain.
  • Terrain is rapidly expanding its Gallium focus to dovetail with the exponential growth of quantum computing and generative AI (and the associated demand for semi-conductors).
  • Gallium chips and other electrical components draw less power, switch faster and operate at higher temperatures.

For addition information and references, refer to ASX releases:

• 16 August 2023 - Gallium (Ga) Discovered at Smokebush RC drilling campaign.
• 31 October 2023 – Quarterly Activities Report:  September 2023.
• 23 October 2023 – Gallium Clays in drilling at Lort River.
• 11 March 2024 - Highly encouraging REE & Gallium results at Larins Lane Project, only ~25% of samples assayed to date.
• 27 May 2024 - Exciting Gallium & REE drilling results at Larin’s Lane.
• 06 November 2024 - Larin’s Lane Phase One JORC Exploration Target Outlines Potential.
• 05 December 2024 - Larin’s Lane Gallium Project Metallurgical Studies Underway MRIWA Research Project M10528.

Diagram 1: The Smokebush project area map showing gold targets and the Larins Lane gallium project.

Diagram 2: The Smokebush project area map showing the Larins Lane gallium project and current drill targets and hole density.

Diagram 3: The Smokebush projects location to other critical mineral projects.