Terrain Minerals Limited - Strategic Placement to Institutional Investors

About this update from Terrain Minerals Ltd

Terrain Minerals Limited (ASX: TMX) ('Terrain' or 'the Company') is pleased to announce that its board has approved the re-opening of the previously closed strategic placement, allowing a Brisbane -based specialist micro-cap fund manager to take an initial position in the Company at a premium to the recent placement (refer to ASX release January 22 , 2025). The Company raised approximately $450,000 (before costs) through the initial strategic placement at $0.003 per share. Following the closure of the books, an institutional investor expressed interest in acquiring an initial position in Terrain at a premium to the earlier placement. In response, the board has decided to accept an additional $150,000 at $0.0035 per share, representing a 16.67% premium to the prior placement price. This move aligns with the Company's ongoing strategy to attract long-term strategic investors to its shareholder base. Quote from Brisbane -based specialist micro-cap fund manager: 'We believe Terrain's Larin's Lane project is a unique early-stage opportunity for a potential gallium dominant resource in Australia . Extensive research has led us to believe gallium will be a critical resource in transformative and trillion-dollar market opportunities that are just emerging. Gallium plays a pivotal role in semiconductor manufacturing, advanced electronics, robotics, quantum computing, artificial intelligence and renewable energy infrastructure. The unique supply and demand characteristics and strategic geopolitical importance of gallium has led us to take a portfolio-based approach to gallium exposure with Terrain forming part of this portfolio.' The Placement Shares will settle in a single tranche on or around 30 January 2025 and will be issued within the Company's existing placement capacity pursuant to ASX Listing Rules 7.1A. Leeuwin Wealth are acting as Lead Manager to the Placement (Lead Manager) and will be paid a fee of 6% on direct funds raised. Quote from Justin Virgin Executive Director of Terrain:n 'We are thrilled to welcome this new strategic micro-cap fund to our register. This vote of confidence from an experienced investor underscores the significant potential of our Larins Lane Gallium project. 'In particular, the involvement of a major Malaysian-based investor and another significant long-term investor triggered the need for the first share issue, highlighting the growing interest in Terrain. This positive momentum continued even after the placement book had closed, with an Australian-based fund manager expressing interest in joining us. Moving forward, we aim to further strengthen the shareholder base. The top 200 shareholders currently holding 84% of the company (top 300 holding 90%). 'This successful placement, including the strategic investment, provides us with the necessary capital to advance exploration and further solidify our position as a key player in the evolving gallium market and across our Gold, Copper, Nickel and Lithium projects' The funds raised from both Placements will be directed towards additional drilling at the Company's Smokebush Gold Project , including the Stage 2 drilling campaign that has now commended, and the Larin's Lane Gallium prospect. Additionally, the funds will support the ongoing exploration campaign at the Lort River Nickel/Copper Projects, with high priority drilling focused on Targets T1 and T2, both have now been drill tested and result are now pending. T1 and T2 are bedrock conductors, located at the edge of an interpreted mafic or ultramafic intrusion (referred to as the Lort River 'eye'), and these conductors share similarities with IGO's Nova-Bollinger 'eye' feature. Both projects are situated within the Albany-Fraser belt of Western Australia . Funds will also be used to advance exploration across the Company's other projects and for general working capital needs. Contact: Justin Virgin Executive Director Tel: +61 8 9381 5558 Email: [email protected] ABOUT TERRAIN MINERALS LIMITED : Terrain Minerals Limited (ASX: TMX) is a mineral exploration company with an asset portfolio that includes: Information included in this report constitutes forward looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as 'may', 'will', 'expect', 'intend', 'plan', 'estimate', 'anticipate', 'continue' and 'guidance' or other similar words, and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs. Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the company's actual results, performance, and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the company operates or may in the future operate environmental conditions including extreme weather conditions, staffing and litigation. Forward looking statements are based on the company and its management's assumptions made in good faith relating to the financial, market, regulatory and other relevant environments that exist and effect the company's business operations in the future. Readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements are only current and relevant for the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the company does not undertake any obligation to publicly update or revise any of the forward-looking statements or advise of any change in events, conditions or circumstances on which such statement is based. (C) 2025 Electronic News Publishing, source ENP Newswire

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