TECHGEN METALS LTD — Capital/Financing Update 2022

Dec 19, 2022

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INTRUSIVE ROCK TYPES CONFIRMED AT JOHN BULL

TechGen Metals Limited (ACN 624 721 035) (“ TechGen ” or the “ Company ”) is pleased to provide an exciting update on petrology results from the John Bull Gold Project in New South Wales (Figures 1, 2 & 4). The John Bull Gold Project is located between Glen Innes and Grafton in northern New South Wales within the New England Orogen.

STRATEGIC HIGHLIGHTS

• ➢ Petrology confirms intrusive rock types in project area.

• ➢ Gold mineralisation may represent an Intrusion Related Gold System (IRGS) style of mineralisation.

• ➢ Further field mapping to commence in the new year.

Evidence of gold mineralisation at the John Bull Project is seen by the presence of several small-scale gold shafts (circa 1880’s) and areas of historic gold sluicing activities (circa 1940’s). More recent exploration included a surface trench/costean from the 1980’s (Kennecott Exploration (Australia) & Southern Goldfields Ltd) that contained a mineralised interval of 160m @ 1.2 g/t Au. No drilling had been completed in the project area until TechGen drilled a 7 hole RC program in July 2022.

All 7 drill holes returned assays of greater than 1 g/t Au including some broad mineralised intersections such as 68m @ 1.0 g/t Au, including 23m @ 2.02 g/t from surface (hole JBRC001) and 66m @ 1.14 g/t Au from 32m (hole JBRC006). Outstanding soil sampling results were released in November from a sampling program designed to step out in all directions away from the recently completed RC drilling. Soil results returned a peak soil sample result of 8.56 g/t gold . Thirty-eight ( 38 ) soil samples returned values + 1 g/t gold. Two broad zones of + 0.1 g/t Au (100 ppb Au) soil anomalism were identified. Zone 1, which includes the RC drilling area, extends over an area of 550 metres x 275 metres & Zone 2, to the southwest of Zone 1, extends over an area of 250 metres x 150 metres. Both the soil anomaly zones remain open. Results from the final 157 soil samples are still awaited.

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10cm
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Photo 1 & 2: Micro-monzonite outcrop in the field and closeup view.

ABN: 66 624 721 035 | Registered Office: 683 Murray Street, West Perth 6005 Telephone: +61 427 268 999 | Email: admin@techgenmetals.com.au | Website: techgenmetals.com.au

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Eight rock samples collected during soil sampling were submitted for petrographic thin section preparation and description (Photo 1 & 2). The samples were all taken from outcrops located south and southwest of the recent RC drilling traverse (150 metres to 400 metres from RC drill holes).

Six samples have been confirmed as igneous rocks ranging from trachyandesite to micro-monzonite to micromonzodiorite and are interpreted as shallow crustal level intrusives. Two samples were of sedimentary rock types, greywacke and chert. All rock types intersected in the recent 7-hole RC drilling program were sedimentary in nature and no intrusive rock units were intersected.

Several features of the geology and mineralisation at the John Bull Project, including the presence of intermediate subvolcanic trachyte to micro-monzonite bodies and sheeted and stockwork quartz veins with associated sulphides support the Company’s interpretation of a possible Intrusion Related Gold System model for gold mineralisation at John Bull. In addition, IRGS gold deposits are known in the John Bull area with the previously mined Timbarra Gold Mine, located 40km north of John Bull.

Figure 3 represents a schematic cross section showing, on the left side, the Intrusion Related Gold System Model and how gold mineralisation can occur in relation to an intrusive body. The right-hand side of Figure 3 shows the interpreted position of the John Bull Project within the IRGS model.

Further field mapping at the project area is due to commence in the new year and planning and permitting is currently underway for a follow-up RC and diamond drilling program to test for depth extensions beneath recent RC drill intersections and also to undertake step out drill lines to both the north and south of recent drilling.

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Figure 1: Diagram showing historic shafts, sluicing areas, RC collars, costean and rock chips.

ABN: 66 624 721 035 | Registered Office: 683 Murray Street, West Perth 6005 Telephone: +61 427 268 999 | Email: admin@techgenmetals.com.au | Website: techgenmetals.com.au

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20 [th ] December 2022
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OPEN
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Figure 2: Gold soil sampling results, RC collars, costean and rock chips, John Bull Project.

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Figure 3: (Left) Schematic representation of the Intrusion Related Gold System (IRGS) mineralisation model. (Right) The interpreted position of the Jackadgery Project within the IRGS model.

ABN: 66 624 721 035 | Registered Office: 683 Murray Street, West Perth 6005 Telephone: +61 427 268 999 | Email: admin@techgenmetals.com.au | Website: techgenmetals.com.au

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Figure 4: Project location map with regional mineral endowment.

ENDS

ABN: 66 624 721 035 | Registered Office: 683 Murray Street, West Perth 6005 Telephone: +61 427 268 999 | Email: admin@techgenmetals.com.au | Website: techgenmetals.com.au

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About TechGen Metals Limited

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TechGen is an Australian registered exploration Company with a primary focus on exploring and developing its gold and base metal projects across Australia. TechGen holds a portfolio of twenty-five exploration licences strategically located in five highly prospective geological regions in WA, and one in NSW.

Authorisation

For the purpose of Listing Rule 15.5, this announcement has been authorised for release by the Board of Directors of TechGen Metals Limited.

Competent Person Statement

The information in this announcement that relates to Exploration Results is based on and fairly represents information compiled and reviewed by Andrew Jones, a Competent Person who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM). Andrew Jones is employed as a Director of TechGen Metals Limited. Andrew Jones has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves. Andrew Jones consents to the inclusion in this announcement of the matters based on his work in the form and context in which it appears.

Previously Reported Information

Any information in this announcement that references previous exploration results is extracted from previous ASX Announcements made by the Company.

For further information, please contact:

Mr Ashley Hood, Managing Director P: +61 427 268 999

ABN: 66 624 721 035 | Registered Office: 683 Murray Street, West Perth 6005 Telephone: +61 427 268 999 | Email: admin@techgenmetals.com.au | Website: techgenmetals.com.au

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