TAMBOURAH METALS LTD — Capital/Financing Update 2021

Oct 31, 2021

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ASX Announcement | 1 November 2021

Wongan Hills South Project Acquisition

• Tambourah Metals Ltd to acquire a controlling interest in three exploration licenses at Wongan Hills South

• The acquisition will double the company’s Julimar North Tenement Area to 780 km[2]

• The project area is highly prospective for Cu‐Au & Ni‐PGE

Tambourah Metals Ltd ( Tambourah or Company ) (ASX:TMB) is pleased to advise that the Company has entered into an agreement to acquire an 80% interest in the 381.5km[2] Wongan Hills South Project ( WH Sth. ), extending its land holding in the highly prospective Julimar district to 780km[2 ] (see figure 1). The additional tenement package is less than 5km east of Caravel Minerals published resources (see figure 1). The agreement is subject to shareholder approval.

Tenement Details

At the completion of the transaction Tambourah Metals will hold an 80% interest in 3 granted exploration licenses (see table 1), comprising the WH Sth Project (see figure 1 for location).

Tenement	Grant Date	Area
E70/5730	17/08/2021	38 Blocks
E70/5755	26/07/2021	9 Blocks
E70/5796	4/08/2021	84 Blocks
	Total	381.5km2

Table 1: Tenements

Regional Prospectivity

The highly prospective WH Sth project is located adjacent to multiple significant deposits and prospects and is situated on significant regional magnetic structures (see figure 2).

Historic Gold exploration was undertaken by previous explorers in the region. The target style of mineralization was similar to Boddington and Griffin Finds, however there has been very limited exploration for other metals within the project area.

The company will focus on Cu‐Au & Ni‐PGE exploration in the WH Sth project and incorporate the new tenements into the existing regional exploration program.

Registered Address Tambourah Metals Limited ACN: 646 651 612 1/77 Hay Street, Subiaco WA 6008 T: +61 8 9481 8669

Board Members Rita Brooks Chairperson Chris Ramsay Non‐Executive Director Ben Donovan Non‐Executive Director E: admin@tambourahmetals.com.au

Market Information ASX Code: TMB Shares on Issue: 64,950,000

W: Tambourahmetals.com.au

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Figure 1. Tenement Location Plan on Regional Geology

Exploration Pathway

Historic exploration results over WH Sth are being compiled and assessed.

Airborne EM surveys are being planned over the most prospective targets within WH Sth tenements which will be followed up with ground EM to define target plates.

Target plates will be drilled with RC or diamond drilling as appropriate.

1/77 Hay Street, Subiaco WA 6008

Tambourah Metals Limited ASX: TMB | T +61 8 9481 8669

tambourahmetals.com.au

admin@tambourahmetals.com.au

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Figure 2. WH Sth Project Tenements on TMI Magnetics

Acquisition Details

The Company has entered into a binding Heads of Agreement (HoA) with Baracus Pty Ltd (ACN 009 132 334) (Baracus), a company controlled by Director, Rita Brooks, to acquire an 80% interest of the WH Sth Project, comprising exploration licences E 70/5730, E 70/5755 and E 70/5796 (Tenements).

In consideration for the Tenements, the Company has agreed to issue Baracus (or its nominee) fully paid Ordinary Shares* in the capital of the Company to the value of $200,000, at a deemed issue price per Share equal to the volume weighted average price (VWAP) of Shares traded on the ASX in the 20 days prior to the date of issue to Baracus (or their nominee). The issue of these shares is subject to shareholder approval which will be sought at the Annual General Meeting to be held on 30 November 2021.

* Escrowed for 2 years from the date of issue

Authorised for release by the Board of Directors of Tambourah Metals Ltd.

For further information, contact: Rita Brooks | Executive Chairperson +61 8 9481 8669

1/77 Hay Street, Subiaco WA 6008

Tambourah Metals Limited ASX: TMB | T +61 8 9481 8669

tambourahmetals.com.au

admin@tambourahmetals.com.au

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About Tambourah Metals Ltd

Tambourah Metals are one of the largest tenement holders in the Julimar Nth region. The company is exploring for Battery Metals including Ni‐PGE at Achilles (NE Goldfields) and Julimar Nth. They have Au and Ta‐Sn‐Li projects in the Pilbara. TMB listed on the ASX raising $8 million to carry exploration at the 2 Advanced Gold Projects at Tambourah Goldfield and Cheela Gold Project in the Pilbara.

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Location map of Tambourah Metal’s Projects

1/77 Hay Street, Subiaco WA 6008

Tambourah Metals Limited ASX: TMB | T +61 8 9481 8669

tambourahmetals.com.au admin@tambourahmetals.com.au