TECHGEN METALS LTD — Capital/Financing Update 2024

Feb 21, 2024

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9 [th] November2023 22 [nd] February 2024
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February 2024 Exploration Update

TechGen Metals Limited (ACN 624 721 035) (“ TechGen ” or the “ Company ”) is pleased to provide an exploration progress update across its active portfolio of strategic and highly prospective exploration projects. Several projects currently have works underway or the next phase of work commencing shortly.

STRATEGIC HIGHLIGHTS

➢ Ida Valley Lithium WA:

• RC drilling to commence targeting Northwest & Central priority 1 lithium targets. Historic data identifying lithium and caesium in soils up to 144.5ppm Li (311ppm Li2O) at Northwestern target.

• Recent inaugural mapping at the Central Prospect identified 5 massive pegmatites not previously sampled or recorded within a +500m east – west area and remaining open to the north and south.

• New Central and additional Northwestern rock chip samples in for testing.

• ➢ Mt Boggola WA Uranium – Thorium anomaly field mapping and scintillometer mapping to commence.

• ➢ Station Creek WA Copper/Gold: Mapping targeting offset shear zones in an under explored and highly promising Ashburton copper/gold belt.

• ➢ Company well-funded following recent oversubscribed placement. Continued assessment of strategic growth opportunities, portfolio streamlining to maximise return on projects and maintaining fiscal responsibility.

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Photos 1 & 2: Central priority Target 1 - New Massive Pegmatites mapped & sampled.

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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9 [th] November2023
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TechGen’s Managing Director, Ashley Hood, commented : “ Our exploration efforts are ongoing, with an immediate focus on multiple projects within our WA portfolio, Ida Valley (lithium), Station Creek (copper), and Mt Boggola (uranium).

We are about to commence our maiden RC drilling Lithium campaign at our 100% owned and managed Ida Valley Lithium Project, our RC rig is mobilising over the weekend all going to schedule. To date geochemistry soils modelling for lithium, caesium, tantalum (LCT) and other pathfinder elements suggests pegmatite fertility for lithium in the immediate area. While planning for our imminent RC drilling campaign, several large pegmatites were observed and sampled along an east - west RC drill line in the northern portion of the Central priority 1 LCT target area.

At the completion of this maiden RC lithium drilling campaign, our independent technical field teams will head to test identified copper and uranium targets at Station Creek and Mt Boggola in the Ashburton Province while the Company awaits its pegmatite assays.

As part of our ongoing efforts, we have been conducting a comprehensive review of our existing project portfolio. We aim to streamline our current holdings where necessary, while simultaneously exploring new opportunities for highquality acquisitions that have the potential to enhance our portfolio with tier-one scale prospects. This aligns with our overarching objectives, which include assessing strategic growth opportunities, streamlining our portfolio to maximise returns on key projects, and maintaining fiscal responsibility while enhancing shareholder value.”

Ida Valley - Lithium

The Ida Valley Project has previously been subject to geochemical surveys and RC drilling targeting structural gold mineralisation along the Ida Fault. The project contains its own concealed greenstone belt approximately 50km north along strike from Delta Lithium’s Mt Ida deposit (12.7Mt @ 1.2% Li2O; Refer to DLI ASX announcement 8[th] Aug 2023).

Two priority 1 areas identified by an independent geochemist are Northwest (peak soil values of 144.5ppm Li & 16.15ppm Cs – BBGA1707 ) and Central (peak soil value of 92.2ppm Li – BBGA032 ). The Northwest area contains a 1.6km long +10ppm lithium soil anomaly with a peak of 144.5ppm lithium with the Central area containing a 2.5km long +10ppm lithium soil anomaly with a peak of 92.2ppm lithium.

The Company’s Ida Valley gold RC drilling programs (refer to ASX announcements 17[th] June 2021 and 2[nd] September 2021) intersected pegmatites within amphibolite and ultramafic units with only stage 2 RC tested for multi elements including lithium, with these selected assay results returning no anomalous lithium values from the drilled pegmatites. The Central (~2km) and Northwest (~18km) soil areas are located well away from any previous drilling activities.

Field logs recorded during soil sampling activities record widespread outcrops of granite, mafic rocks, pegmatite, pegmatite within granite and pegmatite veining in mafic rocks. Field work due to commence shortly will visit areas of highest lithium, caesium and rubidium anomalism.

The Ida Valley Project comprises two granted Exploration Licences, E29/1053 and E36/1015. The Ida Valley Project lies within the northern sector of the Norseman-Wiluna Greenstone Belt with an area previously misunderstood due to lack of regional mapping and poor access until now. The Company looks forward to further updates on the RC drilling program as it progresses to test the Northwest and Central priority 1 lithium target areas.

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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9 [th] November2023
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Figure 2: Ida Valley location- Leonora Mining District WA.

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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9 [th] November2023
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Mt Boggola – Uranium/Thorium

The Mt Boggola Project is located 60km south of Paraburdoo in Western Australia. The project comprises four Exploration Licences, E08/2996, E08/3269, E08/3458 and E08/3473, covering a combined area of 352km[2] .

Field work to sample and assess radiometric (Thorium & Uranium) target regions is due to commence following completion of RC drilling at the Ida Valley Lithium Project.

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Ashburton Basin
Possible unconformity
related uranium
Uranium targets
Edmund Basin
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Figure 2 : Uranium & Thorium Radiometric anomalies on satellite imagery.

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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Station Creek - Copper/Gold

The Station Creek Project is located 70km southwest of Paraburdoo in northern Western Australia. The project comprises Exploration Licence E08/2946 covering an area of 54km[2] . Recent rock chip sampling of target PGN9, originally identified by PGN Geoscience, returned 27.7% Cu & 6.64g/t Au and high-grade silver of 145g/t (Refer to ASX announcement 4th September 2023). Target PGN9’s potential has been increased based on mapping by neighbouring Norwest Minerals Limited (ASX announcement 2 September 2022 [ASX: NWM]) who reported the V1, V2 and V3 targets trending southeast towards the Company’s Station Creek Project.

Key dominant lithologies are chloritic mudstone, siltstone with subordinate lithic sandstones folded around west north westly trending fold axes forming moderately dipping open folds. Favourable structural contact target areas PGN12 and PGN13 remain to be followed up situated on a geological unconformity boundary, later stage offsets favourable for copper/gold and or uranium (+/- other base metals).

Mapping and sampling of target areas is due to commence following completion of RC drilling at the Ida Valley Lithium Project.

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V2
Offset structural
copper targets.
Unconformity
copper targets.
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Figure 3: Structural and geochemistry targets (PGN5 -13), Station Creek Project.

ENDS

ABN: 66 624 721 035 | Registered Office: 683 Murray Street, West Perth 6005

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Telephone: +61 427 268 999 | Email: admin@techgenmetals.com.au | Website: techgenmetals.com.au V3

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9 [th] November2023
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About TechGen Metals Limited

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Photo: Ida Valley Station Access Rd.
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TechGen is an Australian registered exploration Company with a primary focus on exploring and developing its lithium, gold, and base metal projects strategically located in highly prospective geological regions in WA, and one in NSW.

For more information, please visit our website: www.techgenmetals.com.au

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.

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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Forward Looking Statements

Certain information in this document refers to the intentions of TechGen, however these are not intended to be forecasts, forward looking statements, or statements about the future matters for the purposes of the Corporations Act or any other applicable law. Statements regarding plans with respect to TechGen’s projects are forward looking statements and can generally be identified using words such as ‘project’, ‘foresee’, ‘plan’, ‘expect’, ‘aim’, ‘intend’, ‘anticipate’, ‘believe’, ‘estimate’, ‘may’, ‘should’, ‘will’ or similar expressions. There can be no assurance that the TechGen’s plans for its projects will proceed as expected and there can be no assurance of future events which are subject to risk, uncertainties and other actions that may cause TechGen’s actual results, performance, or achievements to differ from those referred to in this document. While the information contained in this document has been prepared in good faith, there can be given no assurance or guarantee that the occurrence of these events referred to in the document will occur as contemplated. Accordingly, to the maximum extent permitted by law, TechGen and any of its affiliates and their directors, officers, employees, agents and advisors disclaim any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of, the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for negligence).

For further information, please contact:

Mr Ashley Hood, Managing Director P: +61 427 268 999 E: admin@techgenmetals.com.au www.techgenmetals.com.au

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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