PTR MINERALS LTD — Capital/Financing Update 2025

Mar 6, 2025

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7 March 2025

Successful $8.1 Million Placement Boosts Funding to Expedite Muckanippie Titanium HMS Project

Highlights

• Petratherm has received firm commitments to raise $8.1 million by way of a placement of new shares to existing and new investors, including several funds and institutions.

• Proceeds of the placement to be used to rapidly advance the Muckanippie Titanium HMS Project.

• Drilling scheduled to commence within two weeks, focussing on both extension and infill at the Rosewood Prospect plus testing new titanium targets within Muckanippie Project.

Petratherm Limited (ASX: PTR) (“PTR” or “the Company”) is pleased to advise that it has received firm commitments to raise $8.1 million (before costs) through a share placement (the “Placement”). The Placement was strongly supported by existing and new investors, including several funds and institutions. Directors and management have committed to contribute a total of $272,000, with Director participation of $220,000 subject to shareholder approval.

The proceeds of the placement will be used for exploration drilling operations at Muckanippie, advancing metallurgical test work, as well as providing for general working capital and costs of the offer.

Chief Executive Officer Peter Reid commented:

“We are extremely pleased with the strong support for the Placement, which places Petratherm in a well-funded position to advance the exciting potentially world class Muckanippie Titanium HMS Project.

“The Rosewood Prospect at Muckanippie has successfully demonstrated high-grade HM mineralisation over a continuous 15km[2] area which remains open for expansion in multiple directions. Concurrently, we have also received excellent results from first pass mineralogy and particle sizing, indicating the presence of high value minerals with potential for conventional processing.

“Phase 2 drilling is commencing this month and will be rapidly pushing forward on all aspects of exploration and mineral and metallurgical analysis to continue advancing the project quickly.”

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P +61 8 8133 5000 E admin@petratherm.com.au petratherm.com.au

@petratherm-ltd @petrathermltd

LIMITED ASX:PTR

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Over the past six months Petratherm has rapidly advanced the Muckanippie Project in central South Australia. In the last four weeks alone, the Company has announced results of drilling which confirmed high-grade, titanium-rich Heavy Mineral Sands mineralisation extending over a 15km[2] area at the Rosewood Prospect[1] , reported a new style of extremely high-grade HM mineralisation within saprolitic clays at several other sites[2] , and posted positive results from HM sizing analysis from representative samples at Rosewood[3] .

With proceeds of the Placement, the Company will continue to advance the project rapidly, with the primary focus being to resume aircore drilling, with a drill rig currently booked to commence on 16[th] March for a program of approximately 6000 metres. Drilling operations will:

• 1) test extensions of the HM mineralisation beyond the currently defined outline at Rosewood;

• 2) conduct some broad spaced infill drilling to better characterise the grade and thickness of mineralisation at Rosewood;

• 3) obtain bulk (>500 kilogram) samples for bulk metallurgical test work from Rosewood, and

• 4) test new sedimentary and saprolitic titanium targets elsewhere on the Muckanippie Project.

The Company looks forward to updating investors as these activities progress.

PLACEMENT DETAILS

The Placement, at an issue price of $0.22 (22 cents), will comprise of the issue of 35.8 million ordinary shares to sophisticated, professional and institutional investors identified by the sole Lead Manager, Taylor Collison Limited, and 1 million ordinary shares to Directors, conditional on the approval of the Company’s shareholders under ASX Listing Rule 10.11.

The unconditional component of the Placement will be issued in accordance with the Company’s available placement capacity pursuant to ASX Listing Rule 7.1, with the issue price of $0.22 per share representing a discount of:

• 6.4% discount to the last traded price on Tuesday, 4 March 2025; and

• 17.1% discount to the Company’s five day Volume Weighted Average Price (VWAP) up to and including the last trading day on Tuesday, 4 March 2025

The new shares will rank equally with existing Petratherm ordinary shares quoted on the ASX.

Settlement of the Placement and receipt of the funds is expected to occur on or around Thursday 13 March 2025 and the Company anticipates that it will make an application to the ASX for quotation of the Placement securities on Friday 14 March 2025.

Taylor Collison Limited is the sole Lead Manager to the Placement. The Placement is not underwritten.

1 PTR ASX release 6 February 2025 – Drilling Confirms Potential for World-Class Titanium Project

2 PTR ASX release 19 February 2025 – New Style of Titanium Mineralisation at Muckanippie

3 PTR ASX release 5 March 2025 – Positive Rosewood Heavy Mineral Size Analysis

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P +61 8 8133 5000 E admin@petratherm.com.au petratherm.com.au

@petratherm-ltd

LIMITED ASX:PTR

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@petrathermltd

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-ENDS-

This announcement has been authorised for release on the ASX by the Company’s Board of Directors.

For further information: Media and Broker Contact Peter Reid Jason Mack Chief Executive Officer White Noise Communications preid@petratherm.com.au jason@whitenoisecomms.com 0435 181 705 0410 611 709

Competent Persons Statement:

The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Mr Peter Reid, who is a Competent Person, and a Member of the Australian Institute of Geoscientists. Mr Reid is not aware of any new information or data that materially affects the historical exploration results included in this report. Mr Reid is an employee of Petratherm Limited. Mr Reid has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Reid consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

About Petratherm Limited

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@petratherm-ltd @petrathermltd

P +61 8 8133 5000 E admin@petratherm.com.au petratherm.com.au

LIMITED ASX:PTR

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Petratherm Limited (ASX: PTR) is a copper and critical minerals explorer focused on the discovery of worldclass deposits in both frontier and mature mineral provinces. The Company has a major project holding in the northern Gawler Craton of South Australia. Recent exploration has uncovered significant concentrations of titanium rich heavy mineral sands (HMS) over large areas at its Muckanippie Project Area. The Project contains 100% owned Petratherm tenure and the JV tenements, EL 6715 (Narryer Metals Limited, ASX:NYM)[4] and EL6873 (G4 Metals)[5] . The mineral sands are associated with the weathering of a major intrusive complex, the Muckanippie Suite, which has been found to be highly prospective for critical minerals including Platinum Group Elements, Vanadium, and Titanium. This is an early-stage Greenfields project with exceptional upside potential.

The Company has two major exploration projects in the world-class Olympic Copper-Gold Province of South Australia. Work in the region has uncovered Iron-Oxide Copper-Gold style alteration/mineralisation at both its Mabel Creek and Woomera Project Areas. Geophysical targeting work has defined several compelling Tier-1 Copper-Gold targets which the Company is aiming to drill test during the 2025 calendar period.

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PTR’s Project Locations in South Australia

4 PTR ASX release 18 April 2024 – Farm-in Agreement Expands Muckanippie Project

• 5 PTR ASX release 29 Feb 2024 – Farm-In Agreement Executed – Muckanippie Project Expansion

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@petratherm-ltd

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P +61 8 8133 5000 E admin@petratherm.com.au petratherm.com.au

LIMITED ASX:PTR

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@petrathermltd